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Best Business Saving Accounts – USA

Best Business Saving Accounts

Savings Accounts for – Small businesses & freelancers

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USA – May 2023
  • All services are FDIC insured by US banking institutions.
  • Compare fees and anual yield (APY).
Last Updated May 2023
  • All deposits are FDIC insured.
  • Perfect for small businesses, freelancers & self-employed.
  • Compare fees to save money.
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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.

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Account Provider Pricing Card APY Main Advantages Score Open an Account
Free plan More Info Bluevine Debit Mastercard
 2.0%
  • Checking account deposits earn 2.0% APY for eligible customers
  • Quick & easy migration of existing bank accounts
 9.8
Visit Site
BlueVine Review

Payments

Account Types
  • USD
Card type
  • Business debit Mastercard
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
  • Wire transfers to 26 countries outside of the U.S
Outgoing transfer fee (USD): $25
foreign transfer fee: $25 + 1.5% on base payment amount

Accounting Tools

  • green-check-mark Bill pay
  • green-check-mark Expense Management
  • green-check-mark Payment approvals

Security Features

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

Account Access

Based on 7,179 reviews
bluevine.com
Free plan More Info Live Oak Debit Mastercard
 4.0%
  • 4.0% APY on savings deposited in a designated account
 9.5
Visit Site
Live Oak Review

Payments

Domestic Transfers

Free incoming/outgoing ACH
Free incoming wire, $19 on outgoing wire

International Transfers

$19 on outgoing wire

Opening Deposit

$100 minimum opening deposit

Accounting Tools

  • green-check-mark Bill Pay
  • green-check-mark Invoicing
  • green-check-mark integration with Square, Quickbooks & Stripe

Security Features

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

Account Access

Based on 1 reviews
LiveOakbank.com
$15 Per month More Info Found business debit Mastercard
Found card
 1.5%
  • 1.5% APY on checking account balance of up to $20K
 9.1
Visit Site
Found
Found Review

Payments

Card type
  • Business Mastercard
Domestic Transfers
  • Unlimited free ACH transfers
  • No outgoing Wire transfer
  • Incoming Wire transfers only
International Transfers
  • No Wire transfers available

Accounting Tools

  • green-check-mark Expense Management
  • green-check-mark Invoicing
  • green-check-mark Tax estimation and saving tool
  • green-check-mark integration with Stripe, Square, PayPal & more

Security Features

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

Account Access

Based on 122 reviews
Found.com
$9 Per month More Info Lili Debit Visa
2.0%
  • Automated tax saving system
  • Expanse tracking feature & recipt scanner
 8.8
Visit Site
Lili's screenshot
Lili Review

Payments

Domestic Transfers
  • Free ACH Bank Transfer
International Transfers
  • Free debit transactions

Accounting Tools

  • green-check-mark Expense Management
  • green-check-mark Savings tools
  • green-check-mark Bookkeeping
  • green-check-mark Invoicing
  • green-check-mark QuickBooks, Venmo & more

Security Features

  • Deposits are insured up to $250,000 via Choice Financial Group, Member FDIC

Account Access

Based on 1,402 reviews
lili.co
$10 Per month More Info Axos Debit Visa
Axos card
 1.01%
  • Unlimited domestic ATM fee reimbursements
  • APY interest ranges from 0.1% to 1.01% for eligible users’
 8.5
Visit Site
Axos Bank Review

Payments

Cash Deposits
  • N/A
Minimum opening deposit
  • $100
Domestic Transfers
  • Free ACH transfers
  • $15 for outgoing wire transfers
International Transfers
  • $50 for outgoing international wire transfer

Accounting Tools

  • green-check-mark Savings tools
  • green-check-mark Bill pay
  • close-mark-black Expense Management
  • close-mark-black Invoicing
  • green-check-mark QuickBooks integration

Security Features

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

Account Access

Based on 88 reviews
axosbank.com
$15 Per month
$2K min. balance More Info		 Chase Debit Visa
 0.01%
  • Fee-free ATMs at 15,000 locations
  • Same-day cash deposits at no additional cost
 8.2
Visit Site
Chase Review

Payments

Card type
  • VISA card
Domestic Transfers
  • ACH transfers: Outgoing: $25+¢15 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 852 reviews
chase.com
Score 9.8
BlueVine Review
APY 2.0%
Pricing Free Plan
Accounts
  • USD
Based on 7,179 reviews
Main Advantages
  • 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
Our most popular
1
9.8
Visit Site
  • 2.0% APY interest on eligible users’ balance
  • Quick & easy migration of existing bank accounts
More Info +
Score 9.5
Live Oak Review
APY 4.0%
Pricing Free plan
Accounts
  • USD
Based on 1 reviews
Based on 1 reviews
Main Advantages
  • Human-powered support
  • Open an account online in minutes
  • Access over 55,000 free in-network ATMs
  • No account opening or monthly maintenance fees
  • $100 minimum opening deposit
  • Bill pay service available
Visit Site
2
9.5
Visit Site
  • No fees on incoming wire transfers
  • Foreign transactions available at 3% fee
More Info +
Score 9.1
Found Review
APY 1.5%
Pricing Free Plan
Accounts

USD

Found card
Based on 122 reviews
Main Advantages
  • Unlimited transactions
  • No account fees, no minimum balance
  • Mastercard® business debit card and virtual card
  • Free ACH transfers
  • No outgoing Wire transfers
  • Incoming Wire available only to domestic transfers
  • Unlimited customizable invoices
  • Deposits up to $250k are insured by Piermont Bank; Member FDIC
Visit Site
Best for sole-proprietorships
3
9.1
Visit Site
  • Built-in tax calculator and tax-saving tools
  • Automatic expense tracking for self-employed
More Info +
Score 8.8
Lili Review
APY 2.0%
Pricing Free Plan
Accounts
  • USD
Based on 1,402 reviews
Main Advantages
  • No monthly fee and no minimum balance
  • Free cash withdrawal at 38,000+ locations
  • Real-time transaction notifications
  • Human-powered customer service
  • Integrates with multiple apps including: Stripe, Shopify, Etsy, Paypal, Quickbooks, Freshbooks, Xero, and more
  • Pro plan for $9/month including: fee-free overdraft up to $200, automatic savings with 1.5% APY, invoicing software
Visit Site
4
8.8
Visit Site
  • Automated tax saving system
  • Expanse tracking feature & recipt scanner
More Info +
Score 8.5
Axos Bank Review
APY 1.01%
Pricing $10/month
Accounts
  • USD
Axos card
Based on 88 reviews
Main Advantages
  • Cash deposits via MoneyPass and AllPoint networks
  • $100 minimum opening deposit
  • First set of 50 checks free
  • QuickBooks integration
Visit Site
5
8.5
Visit Site
  • Domestic ATM fee reimbursements
  • APY interest ranges from 0.1% to 1.01% for eligible users’
More Info +
Score 8.2
Chase Review
APY 0.01%
Pricing $15/month
$2,000 Minimum balance
Accounts
  • USD
Based on 852 reviews
Main Advantages
  • 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 +

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.

How Do I Compare & Choose the Best Bank account for My Business?

Features Icon
Banking Features
At the core, check for payment options, local and international money transfer services, corporate cards, account types and currencies available as well as invoicing and bookkeeping tools.
Fees Icon
Fees
Look for accounts offering simple & clear-cut plans, minimal or no fees on transfers & payments and free withdrawal options.
Corporate card
All business accounts include corporate cards for you & your employees – either through MasterCard or Visa. Check how many cards are included for free in your chosen plan & how much each additional card will cost if required.
Security Icon
Security
The banks we compare & review on Top10BusinessBanks.com are regulated by local authorities. FDIC regulates deposit insurance to at least $250,000
Accounting Icon
Accounting tools
Look for built in expense reporting, scheduled/recurring payments & direct debits. Most banks also offer seamless integration with bookkeeping & accounting tools.
Access Icon
Account Access
Today, some banks offer account access 24 hours a day, 7 days a week. While the majority of providers offer access via both mobile and desktop/web apps, some business banks only offer one or the other so check you have the access you need when selecting your preferred bank.

How Do I Compare & Choose the Best Bank account for My Business?

Features Icon
Banking Features
Accordeon button
At the core, check for payment options, local and international money transfer services, corporate cards, account types and currencies available as well as invoicing and bookkeeping tools.
Fees Icon
Fees
Accordeon button
Look for accounts offering simple & clear-cut plans, minimal or no fees on transfers & payments and free withdrawal options.
Corporate card
Accordeon button
All business accounts include corporate cards for you & your employees – either through MasterCard or Visa. Check how many cards are included for free in your chosen plan & how much each additional card will cost if required.
Security Icon
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 Icon
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.
Access Icon
Account Access
Accordeon button
Today, some banks offer account access 24 hours a day, 7 days a week. While the majority of providers offer access via both mobile and desktop/web apps, some business banks only offer one or the other so check you have the access you need when selecting your preferred bank.