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Best Business Savings Accounts – USA

Best Business Savings Accounts

Savings Accounts for – Small businesses & freelancers

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USA – July 2024
  • Compare and choose the best business savings provider for you
  • Find the highest APY with the lowest fees
  • All services are FDIC insured
Last Updated July 2024
  • Compare and choose the best business savings provider for you
  • Find the highest APY with the lowest fees
  • All services are FDIC insured
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Advertiser Disclosure

Top10BusinessBanks is a free online resource meant to help users find the information they need in order to make a confident decision. We spend countless hours of research to find the most relevant content and present it in the most accessible way. However, please don’t view the information presented here as a recommendation from our end.

Please note:

  • All the information displayed in this site is completely subjective. Moreover, we have broad editorial discretion as to the content we publish on the site and due to various reasons, the information you see may be incomplete and/or inaccurate. Please don’t hesitate to double-check the information we provide. It’s okay, we won’t be offended – on the contrary, we would love to hear your feedback!
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Business Banks Monthly Fees APY Benefits Score
Free plan More info 5.39%
  • Gain 5.39% yield on your savings
  • Unlimited fee-free transactions
  • Venture debt loans available for startups
 9.8
Visit Site
Mercury Review

Payments

Cards
  • Mercury Debit Mastercard
  • IO Credit Mastercard
Domestic wires
  • Free
USD international wires
  • Free
Currency exchange
  • 1% rate

Accounting Tools

  • green-check-mark Accounting integration
  • green-check-mark Money management

Security Features

  • Deposits up to $5,000,000 are insured by Choice Financial Group and Evolve Bank & Trust; Members FDIC.

Account Access

Based on 764 reviews
Mercury
Special Offer: Deposit $10K within your first 90 days and get $250 cash
$15
monthly fee More info 		4.34%
  • Fee waived with $10,000 minimum balance
  • Member FDIC
  • Physical branches in over 2,000 locations
 9.5
Visit Site
U.S. Bank Review

Payments

ATM access

Yes

Checking account link

Can be linked to your U.S. Bank business checking account for overdraft protection

Opening deposit

$100 minimum opening deposit

Accounting Tools

  • green-check-mark Invoicing
  • green-check-mark Checking
  • green-check-mark Billpay

Security Features

  • Deposit products (up to $250k) offered by U.S. Bank National Association. Member FDIC

Account Access

Based on 754 reviews
U.S. Bank
Get 4.25% bonus interest on new Platinum Business Money Market accounts
Free plan More info 4.0%
  • Open online account in minutes
  • 4.0% APY with zero monthly fees
 9.1
Visit Site
Live Oak Review

Payments

Monthly Fees

$0

Min. Daily Balance

$0

Min. Opening Deposit

$0

Accounting Tools

  • green-check-mark Quickbooks

Security Features

  • Deposits are insured up to $250,000 by Live Oak bank, Member FDIC

Account Access

Based on 308 reviews
Live Oak
Free plan More info 3.75%
  • No monthly fee and unlimited transactions
  • Open online in as little as 5 minutes
 8.8
Visit Site
Grasshopper Review

Payments

Domestic Transfers

Free incoming and outgoing ACH and Wire Transfer

 

International Transfers
  • International Wire Out: $25
  • International Wire In: $5
Checks

Mobile Check Deposit & Mailed Checks

Debit Card

Visa Rewards Debit Card with cash back & virtual cards. Earn more with Visa SavingsEdge.

Accounting Tools

  • green-check-mark Quickbooks
  • green-check-mark Bill Pay
  • green-check-mark Autobooks
  • green-check-mark Plaid
  • green-check-mark Digital Invoicing
  • green-check-mark Additional tools & Integrations available

Security Features

  • Grasshopper, Member FDIC. Deposits are insured up to $250,000.
  • Clients also have access to enhanced FDIC insurance up to $125 million. 

Account Access

Based on 112 reviews
Grasshopper.bank
Free plan More info 1%-3%
  • Get up to 3% APY in your savings
  • Get personalized customer support by email
 8.5
Visit Site
Relay Review

Payments

Domestic Transfers

Free ACH Bank Transfer

$5 fee for sending Wire transfer
International Transfers

Wire transfers

$10 fee for sending Wire transfer
Card

Relay Debit Visa

Cash

Deposits available at 55,000+ AllPoint ATMs.
Withdrawls are fee-free on any ATM

Check

Recieve: Check scanner
Send: Mailed for you on-demand.

 

Accounting Tools

  • green-check-mark Billpay
  • green-check-mark Savings account
  • close-mark-black Free unlimited invoicing
  • green-check-mark Expanse management
  • green-check-mark integration with QuickBooks, Xero, Gusto, Yodlee and more

Security Features

  • Deposits up to $2,500,000 are insured by the Evolve Bank & Trust and Thread Bank; Members FDIC.
  • Secure collaboration with accountants.

Account Access

Based on 1,204 reviews
Relay
$15 / $30 / $95
monthly fee More info 		0.01%
  • Fee-free ATMs at 15,000 locations
  • Same-day cash deposits at no additional cost
 8.2
Visit Site
Chase Review

Payments

Minimum Balance

$2k min. balance

Domestic Transfers

ACH transfers: Outgoing: $25 per payment

Wire Transfers: Incoming: $15, Outgoing:$25/$35

International Transfers

Wire Transfers: Incoming: $15, Outgoing:$40

Accounting Tools

  • close-mark-black Accounting integration
  • green-check-mark Bill Pay
  • green-check-mark Payment processing
  • close-mark-black Invoicing

Security Features

  • Deposits up to $250k are insured by Chase Bank; Member FDIC

Account Access

Based on 1,474 reviews
Chase
Free plan More info Up to 4.25%
  • Earn 2%- 4.25% APY on balances up to $3M
  • Quick & easy migration of existing bank accounts
 7.9
Visit Site
Bluevine Review

Payments

Domestic Transfers

Free ACH Transfers
Wire transfers

Standard ACH fee: $0
Same-day ACH fee: $10
Incoming Wire Fee: $0
Outgoing Wire Fee: $15
International Transfers

Transfers to 32 countries outside the U.S in 15 currencies

Outgoing transfer fee (USD): $25
foreign transfer fee: $25 + 1.5% on base payment amount
Card

Business debit Mastercard

Cash

Deposits and withdrawals available at 91,500+ Green Dot ATMs

Checks

Recieve: Check scanner.
Send: 2 free checkbooks.

After 2 checkbooks – $18.22 per checkbook, plus taxes and shipping.
Checking

Accounting Tools

  • green-check-mark Bill pay
  • green-check-mark Free unlimited invoicing
  • green-check-mark Expense Management
  • green-check-mark Payment approvals

Security Features

  • Deposits up to $3,000,000 are insured by Coastal Community Bank; Member FDIC and their program banks.

Account Access

Based on 7,503 reviews
Bluevine
Score 9.8
Mercury Review
APY 5.39%
Monthly Fees Free Plan
Accounts
  • USD
Based on 764 reviews
Benefits
  • Free domestic and international wire transfers
  • No monthly fees, transaction fees or minimum opening deposit
Get $250 when deposit $10K in the first 90 days
Visit Site
1
9.8
Visit Site
  • Unlimited fee-free transactions
  • Venture debt loans available for startups
More info + Free Plan
Get $250 cash when deposit $10K in the first 90 days
Score 9.5
U.S. Bank Review
APY 4.34%
Monthly Fees $0 / $20 / $30
monthly fee
Accounts
  • Fee waived with $10,000 minimum balance
  • Physical branches in over 2,000 locations
Based on 754 reviews
Benefits
  • 4.5% APY on money market savings account
  • $100 minimum deposit is required to open An account
  • At least 125 free transactions per month
  • Checkbooks, cash deposit & no-fee ATMs in 2,000 locations
  • Deposits up to $250k are insured by U.S. Bank National Association; Member FDIC
Get 4.25% bonus interest on new Platinum Business Money Market accounts
Visit Site
2
9.5
Visit Site
  • Online and mobile banking available
  • Physical branches in over 2,000 locations
More info + $0/$20/$30 month
Get 4.25% bonus interest on new Platinum Business Money Market accounts
Score 9.1
Live Oak Review
APY 4.0%
Monthly Fees Free plan
Accounts
  • USD
Based on 308 reviews
Benefits
  • Human-powered support
  • No fees on incoming wire transfers
  • No account opening or monthly maintenance fees
  • Access over 55,000 free in-network ATMs
  • Bill pay service available
Visit Site
3
9.1
Visit Site
  • Open online account in minutes
  • 4.0% APY with zero monthly fees
More info + Free plan
Score 8.8
Grasshopper Review
APY 3.75%
Monthly Fees Free Plan
Accounts
  • USD
Based on 112 reviews
Benefits
  • Open an account online in just 5 minutes
  • Free incoming and outgoing ACH & Wire Transfer
  • Bill Pay
  • Digital Invoicing 
  • Cash Flow Management & Budgeting Tools
  • Member FDIC. Deposits insured up to $250K
  • Access to enhanced FDIC insurance up to $125M
  • Integrations with Quickbooks, Autobooks, Plaid & more
Visit Site
4
8.8
Visit Site
  • Earn up to 2.25% APY and 1% Cash Back
  • Unlimited transactions and no monthly fees
More info + Free Plan
Score 8.5
Relay Review
APY 1%-3%
Monthly Fees Free Plan
Accounts
  • USD
Based on 1,204 reviews
Benefits
  • Open up to 20 individual checking with 2 savings accounts
  • Up to 50 virtual or physical debit cards
  • No overdraft fees
  • No minimum balance
  • Secure banking access for financial advisors & team members
  • Integrates with multiple apps including: Plaid, QuickBooks Online, Xero, Gusto, Yodlee, and more
  • Pro feature including: auto bill payment system, same day ACH, free outgoing wires, and more
Visit Site
5
8.5
Visit Site
  • Get up to 3% APY in your savings
  • Get personalized customer support by email
More info + Free Plan
Score 8.2
Chase Review
APY 0.01%
Monthly Fees $15 / $30 / $95
According to plan
Accounts
  • USD
Based on 1,474 reviews
Benefits
  • Accept card payments anytime in the US
  • User-friendly & secure app
  • QuickDeposit: check scanner tool for additional $25/month
  • Fee-free Chase ATMs at 15,000 locations
  • $3 fee for out-of-network ATM
  • $5 International out-of-network ATM fees
  • 0.01% APY interest
Visit Site
6
8.2
Visit Site
  • Fee-free Chase ATMs at 15,000 locations
  • Same-day cash deposits at no additional cost
More info + $15/$30/$95 month
Score 7.9
Bluevine Review
APY Up to 4.25%
Monthly Fees Free Plan
Accounts

USD

Based on 7,503 reviews
Benefits
  • Business loans are available up to $250K
  • Up to 5 sub-accounts with unique account no.
  • Dedicated secure access for team members
  • Automated payment for vendors
  • Wire transfers to 26 countries outside of the U.S
  • Paper checkbooks available
  • Unlimited transactions
  • Checkbooks, cash deposit & no-fee ATMs in 37,000 locations
Visit Site
7
7.9
Visit Site
  • Earn 2%- 4.25% APY on balances up to $3M
  • Quick & easy migration of existing bank accounts
More info + Free Plan

Why is it Beneficial to Open a Business Savings Account?

Small business owners face unique financial challenges that require careful planning and management. One essential step towards success is opening a dedicated business savings account. By separating personal and business finances, entrepreneurs can track the company’s financial standing more accurately and make informed decisions.

A business savings account also offers a range of benefits that can help entrepreneurs manage their finances and achieve their goals. For example, having a separate savings account allows entrepreneurs to allocate excess funds to investments, prepare for emergencies, and have a financial cushion during challenging times. By building a healthy savings balance, entrepreneurs can also access favorable rates and terms on loans and other financial products, making it easier to grow their business over time.

Why is it Beneficial to Open a Business Savings Account?

Small business owners face unique financial challenges that require careful planning and management. One essential step towards success is opening a dedicated business savings account. By separating personal and business finances, entrepreneurs can track the company’s financial standing more accurately and make informed decisions.

A business savings account also offers a range of benefits that can help entrepreneurs manage their finances and achieve their goals. For example, having a separate savings account allows entrepreneurs to allocate excess funds to investments, prepare for emergencies, and have a financial cushion during challenging times. By building a healthy savings balance, entrepreneurs can also access favorable rates and terms on loans and other financial products, making it easier to grow their business over time.

Top 3 Business Checking Accounts

Find the best fit for your business

9.8
Business bank accounts for the runway aheadVist site
9.5
Simplify your money management Vist site
9.1
Banking built around youVist site

Customer Experiences

Mercury was very easy to set up, use and until now it’s been very clear about everything. I’m happy to have chosen this as my first bank for this company.
F
Felipe Franz
Jan 5, 2024
As an entrepreneur and startup founder, I cannot emphasize enough how much Mercury will be a game-changer for start-up and small business.
D
David
Apr 28, 2023
Easy to open account. Very smooth communications and prompt response to queries. Efficient sending money via international wire transfers and ACH.
K
Keith
May 28, 2024
Can’t recommend the bank and app enough. the app can do do everything the web app can do which is really nice for being on the go
J
Jacin Lowe
Jan 24, 2024
I have banked with US bank for 8 years now and have had an amazing experience. I love that the app is simple and easy to use
H
Hannah Noonan
May 27, 2024
I have been with U. S. Bank for years and if I have a problem they are right there to fix it. Great customer service.
W
Wonetta Miller
Jan 23, 2020
Sometimes someone does something exceptional that changes your life. An employee at a U.S. Bank branch did for me.
B
Barb Gottas
Aug 23, 2023
I have a card with them and whenever I have a question I use their online chat or rarely call. They respond in less than a minute and they are KNOWLEDGEABLE.
V
VanessaL
Jul 17, 2023
Great high-yield savings account for our small business. Easy to sign up, transfer funds, earn interest, and connect the account to our QuickBooks for tracking.
B
Bryan
Jun 8, 2024
Live Oak are great folk! They are exceptional business partners focused on business and owners’ success.
M
Mike Harrison
Apr 18, 2024
The on-line system is very user friendly. The staff at Live Oak have helped when I needed personal attention. Their interest rates are really good for a business account.
K
Kathy
Apr 22, 2024
I have been banking with Relay for over three years, some of which was in their early startup phase.This is by far the best banking platform for my company and I am so grateful my accountant shared.
I have been banking with Relay for over three years, some of which was in their early startup phase.This is by far the best banking platform for my company and I am so grateful my accountant shared.

How to Compare and Choose the Best Business Checking Account?

Banking Features
Check for a variety of payment options, local and international money transfer services, corporate cards, account types and available currencies, as well as integrated invoicing and bookkeeping tools.
Fees
Look for built-in expense reporting, scheduled payments, and direct debits. Most banks integrate easily with bookkeeping and accounting tools.
Corporate Card
All business accounts offer MasterCard or Visa corporate cards for you and your employees. Verify the number of free cards included in your chosen plan and the cost of each additional card.
Security
The banks we compare & review on Top10BusinessBanks.com are regulated by local authorities. FDIC regulates deposit insurance to at least $250,000
Accounting Tools
Look for built in expense reporting, scheduled/recurring payments & direct debits. Most banks also offer seamless integration with bookkeeping & accounting tools.
Account Access
Some banks offer 24/7 account access through mobile and desktop apps, but others may not. Ensure your bank suits your needs.

How to Compare and Choose the Best Business Checking Account?

Banking Features
Accordeon button
Check for a variety of payment options, local and international money transfer services, corporate cards, account types and available currencies, as well as integrated invoicing and bookkeeping tools.
Fees
Accordeon button
Look for built-in expense reporting, scheduled payments, and direct debits. Most banks integrate easily with bookkeeping and accounting tools.
Corporate Card
Accordeon button
All business accounts offer MasterCard or Visa corporate cards for you and your employees. Verify the number of free cards included in your chosen plan and the cost of each additional card.
Security
Accordeon button
The banks we compare & review on Top10BusinessBanks.com are regulated by local authorities. FDIC regulates deposit insurance to at least $250,000
Accounting Tools
Accordeon button
Look for built in expense reporting, scheduled/recurring payments & direct debits. Most banks also offer seamless integration with bookkeeping & accounting tools.
Account Access
Accordeon button
Some banks offer 24/7 account access through mobile and desktop apps, but others may not. Ensure your bank suits your needs.