You’ve worked hard to get your business to where it is. Whether you’re just starting out or are decades into the game, you deserve a business checking account that works just as hard for you.

Below, we’ve compiled the top 10 business checking accounts out there. These accounts provide flexibility with unlimited transactions and peace of mind with low to no fees so you can focus on what’s important — running your business.

Why trust us

ValuePenguin experts looked through dozens of business checking accounts across hundreds of nationally available banks and credit unions to compile this list. To determine our top picks, we prioritized accounts that have low to no monthly fees, as well as few other transactional fees.

We then looked at the account’s transaction limitations, preferring those that allow for unlimited transactions. We also considered minimum balance or deposit requirements, ATM accessibility, paper check availability, earned interest, cash deposit capability and whether the account offered any extra business management perks.

Top 10 business checking accounts

Account
Monthly fee
Free monthly transactions
BlueVine Business Checking$0Unlimited
nbkc Free Business Checking$0Unlimited
Radius Bank Tailored Checking$10, but waivable with $5,000 average monthly balanceUnlimited
Novo Business Banking$0Unlimited, except for check deposits
AXOS Basic Business Checking$0200 items
NorthOne Business Checking Account$10Unlimited
Brex$0No-cost transactions, but capped at credit limit
BBVA Business Connect Checking$0
  • 5 in-branch withdrawals or processed checks
  • 2 in-branch deposits
  • All others unlimited
Citizens Bank Clearly Better Business Checking®$0200 items
Capital One Spark Business Unlimited Checking$35, but waivable with $25,000 average 30- or 90-day balanceUnlimited

BlueVine Business Checking

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  • Monthly fee: $0
  • Minimum deposit: $0
  • Free monthly transaction limit: Unlimited

The BlueVine Business Checking account offers just about anything a business owner would want from a business account. For starters, it’s a free online business checking account, and it doesn’t have a minimum deposit or balance requirement. You also won’t have to worry about fees for nonsufficient funds (NSF) or incoming wire transfers.

You’re allowed to make an unlimited number of transactions from the account, which offers free access to MoneyPass ATMs nationwide. And while you can’t deposit cash at these ATMs, you can do so at participating GreenDot locations. You also get two free checkbooks with the account.

To top it off, balances up to $100,000 earn 1.00% APY. The Bancorp Bank provides FDIC insurance on your BlueVine balances — since BlueVine is a fintech company and not a bank itself — as well as the BlueVine Business Debit Mastercard that comes with this account.


nbkc Free Business Checking

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  • Monthly fee: $0
  • Minimum deposit: $0
  • Free monthly transaction limit: Unlimited

With the nbkc Free Business Checking account, there are no fees for mobile deposit, overdrafts or NSFs, stop payments or incoming domestic wires. Plus, nbkc is transparent about the two fees it does have: A $5 fee to send domestic wires and a $45 fee to send or receive international wires.

The account allows for unlimited transactions, including transfers, deposits and withdrawals made with the nbkc Business Debit Mastercard, which you can get upon request. You can also use the debit card at no cost at any nbkc or MoneyPass ATM nationwide, and nbkc also reimburses up to $12 a month for third-party ATM fees. Paper checks are available with the account, as is bill pay within the nbkc mobile app.


Radius Bank Tailored Checking

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  • Monthly fee: $10, but waivable with $5,000 average monthly balance
  • Minimum deposit: $100
  • Free monthly transaction limit: Unlimited

Radius Bank Tailored Checking works best if you’ll have at least $5,000 in the account each month as that allows you to waive the monthly fee. This balance will also earn you 0.10% APY. There are no transaction limits with Radius Bank, and whenever you make signature-based and online purchases with your Radius debit card, you can earn up to 1.50% cash back. Even better, you can use your debit card at any ATM worldwide without facing a Radius Bank fee; Radius will even reimburse you for an unlimited number of ATM surcharges.

Doing your business banking with Radius also gets you access to handy tools that allow you to send invoices, pay bills, send and manage ACH payments and order standard business checks. However, Radius Bank isn’t the most fee-free account on our list: It charges fees for nonsufficient funds, returned items, all wire transfers and other similar items.


Novo Business Banking

Novo Business Banking
  • Monthly fee: $0
  • Minimum deposit: $50
  • Free transaction limit: Unlimited, except only 20 monthly check deposits

After opening the Novo Business Banking account with the $50 minimum required deposit, there are no other minimum balance requirements or monthly fees to worry about. The account is also close to being fee-free; the only fees you may run into are for insufficient funds and uncollected funds returned, which cost $27 each. On top of that, Novo will refund any third-party ATM surcharges you face. You’re not limited to any ATM network either, as Novo will refund any ATM fees incurred into your account at the end of the month.

While this free business bank account doesn’t come with paper checks, it does allow you to send unlimited checks for free directly from your account. You also can’t deposit cash, although Novo suggests buying a money order elsewhere (which may cost a fee) and depositing it into your account as you would a check. Novo also gives you the chance to earn special perks like discounts and exclusive access to services like Stripe, Booking.com, Zendesk and Salesforce.


Axos Basic Business Checking

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  • Monthly fee: $0
  • Minimum deposit: $1,000
  • Free monthly transaction limit: 200

The first account on our list with a true monthly transaction limit, the Axos Basic Business Checking account maxes out at 200 free items per month, including debits, credits and deposited items; each additional item costs $0.30.

Still, this is a solid online business bank account to consider since it doesn’t charge a monthly fee. It also provides free nationwide ATM access and unlimited ATM surcharge reimbursements, although you cannot deposit cash into the account. If you need paper checks, your first set of 50 is free.


NorthOne Business Checking Account

NorthOne Business Checking Account
  • Monthly fee: $10
  • Minimum deposit: $50
  • Free monthly transaction limit: Unlimited

For an unwaivable $10 monthly fee, the NorthOne Business Checking Account allows for unlimited payments, deposits, transfers and debit card usage. You can also use the NorthOne Mastercard Business debit card for free deposits and withdrawals at any NYCE or MoneyPass ATM in the U.S. The debit card and other banking services are provided by Radius Bank, Member FDIC, since NorthOne is a fintech, not a bank itself.

This online business account includes extra features that may be helpful for your business like cashflow breakdowns, sub-accounts (used to better organize and save your money) and integration with a number of other services, including Square, PayPal and Shopify. Note that all wires in and out of the account will cost a fee ($10 for domestic wires and $25 for international wires); there are also other circumstantial fees to keep an eye out for like for nonsufficient funds.


Brex

Brex
  • Monthly fee: $0
  • Minimum deposit: $0
  • Free monthly transaction limit: Credit limit determined by company cash/equity and spending patterns

Brex is a unique approach to business banking: It is a free cash management account with a credit card and investment opportunities. The Brex Cash account is tied to the Brex Card, a credit card that you and your employees can use to make purchases. You can also move Brex Cash funds into a money market fund, which has a 0.03% 7-day yield, as of Feb. 10, 2021. Otherwise, your uninvested Brex Cash money does not earn interest. FDIC insurance is provided through Radius Bank.

With the credit card, you earn rewards points on all purchases and get extra points for making daily payments. You can redeem your points for cash back, gift cards or airline miles. There is no limit to the number of transactions you can make, but you’re still held to a credit limit based on your company’s cash flow or equity and its spending patterns.

The Brex credit card doesn’t hold you to a personal guaranty, but you cannot carry a balance and must pay your full balance each statement period. Applying for Brex will not affect your personal credit score, though Brex does report your company’s on-time payment history to Experian and Dun & Bradstreet so you can build corporate credit history.


BBVA Business Connect Checking

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  • Monthly fee: $0
  • Minimum deposit: $100
  • Free monthly transaction limit: Unlimited, except only 5 in-branch withdrawals and/or processed checks and only 2 in-branch deposits

The BBVA Business Connect Checking account has no monthly service charge and no minimum balance requirements after your initial $100 deposit. Generally, your transactions are unlimited. BBVA only limits your free in-branch withdrawals and/or processed checks to five a month and in-branch deposits to two a month. Any in-branch withdrawals or processed checks made after that limit will cost $1, and any in-branch deposits made beyond two each month will cost $4.

A big plus that’s not common among brick-and-mortar banks is that BBVA allows you to use any ATM without facing a fee. Further, you can avoid ATM surcharges by using BBVA, Allpoint or participating 7-Eleven ATMs. You can deposit up to $5,000 into the account per month for free; BBVA will charge $0.003 for each dollar deposited above that amount. It’s best to receive online account statements for this account as paper statements cost $3.


Citizens Bank Clearly Better Business Checking®

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  • Monthly fee: $0
  • Minimum deposit: $0
  • Free monthly transaction limit: 200 items

Branded as a small business checking account, the Citizens Bank Clearly Better Business Checking account has no monthly fee, no minimum deposit and no minimum balance. You are, however, limited to 200 transactions per month, which includes when you deposit, pay or cash checks; each additional item after that costs $0.50. The account offers the option to order paper checks for your business.


Capital One Spark Business Unlimited Checking

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  • Monthly fee: $35, waived with $25,000 average daily balance
  • Minimum deposit: $250
  • Free monthly transaction limit: Unlimited

Although a pricier account than the others on our list, this small business bank account from Capital One is still worth your consideration due to its limitless transaction allowance. You can also waive the fee associated with the Capital One Spark Business Unlimited Checking account if you’re able to maintain an average daily balance of $25,000.

This account likely won’t be a match for larger businesses with large cash dealings, however, as cash deposits max out at $40,000 per month. All incoming domestic wires are free, as are the first five domestic outgoing wires; additional outgoing domestic wires cost $25 each.

What to consider to find the best business checking account

Balance and deposit requirements: First things first, you want to make sure your new business checking account is within reach for your business. When comparing your options, check whether an account has a minimum deposit or balance requirement, as you’ll need to at least match that amount to open and keep the account.

Monthly transactions: Unlike personal checking accounts, business accounts often limit the number of transactions you can make each month. This includes withdrawals, purchases and checks deposited. If you tend to make hundreds or thousands of transactions a month, you’ll want to look for accounts that allow a higher or even unlimited number of transactions.

Wiring allowances: If your business requires you to send and/or receive wire transfers, make sure to check an account’s wiring allowances. Some accounts may charge for outgoing wires but not incoming, while others may charge for both. Fees also tend to increase for international wires.

Cash deposits: Unfortunately for businesses that deal with a lot of cash, some business checking accounts limit the amount of cash you can deposit or the number of times you can make a cash deposit in a month. For every time you go over the limit, you’ll get charged a fee. Other banks may not even accept cash deposits at all, so it’s important to check an account’s parameters.

ATM access: Explore a bank’s ATM network before signing up, especially if you find yourself running to the ATM often. Most large traditional banks limit you to its own branded ATMs. On the other hand, online business accounts often provide access to thousands more ATMs nationwide through partner networks. You should also check whether ATM access includes both cash withdrawals and deposits.

Bank location: Similarly, if you can’t do without in-person branch access, check each bank’s availability in your area and in places you might be traveling to as well. If you choose to bank more locally, you may be more limited geographically. However, many credit unions are a part of the CO-OP Shared Branches network, which provides members with nationwide branch and ATM access.

What are the benefits of a business checking account?

  • Keeps all of your business transactions in one place: With a business checking account, you can easily differentiate your business spending from your personal spending.
  • Ability to add other users: Business accounts may allow you to add other users onto the account, which can be a huge help as a business owner.
  • Access to helpful tools and services: Often, business accounts offer business-specific tools and services that can make keeping track of your finances easier.
  • Possibility to get financing in the same place: You can frequently find business financing services through the same institution that provides your business checking account, making it easier to do everything in one place.

Business checking account fees to be aware of

Business accounts can be rife with fees. Luckily, there are a handful of free business checking accounts (see our top picks above). Still, it’s important to be aware of the fees to look out for when you want to open a business bank account. These can include:

Monthly service fee: This fee is charged each month simply for owning the account. At more traditional brick-and-mortar banks, the more perks an account has, the higher the monthly fee typically runs.

Excessive transaction fee: Since business checking accounts often limit your transactions, that means you’ll face a fee every time you surpass that limit. This fee is typically around $0.50 per excess transaction.

Overdraft fee: An overdraft fee is charged when you make a transaction that is more than your account can cover, thus requiring the bank to step in and cover the difference for you.

Nonsufficient funds fee: Also known as an NSF fee, this fee applies when you make a transaction that is more than your account can cover. Unfortunately, traditional banks often charge this fee alongside an overdraft fee.

Returned deposit item fee: This tricky fee penalizes you when you deposit or cash a check and the check bounces — meaning it was rejected by the issuing bank — even though it’s through no fault of your own.

Wire transfer fees: Look out for fees for both incoming and outgoing domestic wire transfers. Not all banks charge fees for wire transfers; you may also come across banks that charge for outgoing wires but not incoming wires. Additionally, international wires are typically costlier than domestic ones.

Business checking account vs. personal checking account

Business checking account
Personal checking account
Transaction limitsYesNo
Debit cardYes, sometimes by requestYes
Monthly feeVaries by accountVaries by account
Paper checksVaries by accountVaries by account

A business checking account is one made for your business, and it has several features that distinguish it from the personal checking accounts you’re likely used to. The main difference is that business checking accounts often limit the number of transactions you can make per month, with the exact limit varying by account and by bank.

Business checking accounts also often include special features and tools that can help you manage your business, although these may come at an extra charge. Another thing to note is that business checking accounts don’t always guarantee a linked debit card, and some may require you to request the card. With personal accounts, on the other hand, a free debit or ATM card is almost always a given.

Do I need a business checking account?

Opening a business bank account to handle your business affairs is a smart move for a few reasons. For one, it makes it easy to separate business from pleasure — at least financially. You can keep track of your business transactions in one place and your personal transactions in another. A business checking account can also help prevent you from mixing up your business’ money and your own.

Further, this separation will come in handy when tax season arrives — you’re less likely to get any wires crossed, which is crucial when filing your taxes.

You'll likely need a business checking account to receive business financing, too. Having a separate business checking account can also better protect your personal assets in case of any legal troubles related to your business.

Do I need an LLC to open a business account?

No, business checking accounts are usually open to types of businesses other than an LLC. This includes, but may not be limited to:

  • Sole proprietors
  • Partnerships
  • Corporations

It’s important to check an account’s requirements and limitations first to see if you’re eligible.

How to open a business checking account

You can often open a business checking account online, although some banks may require you to open the account in person at a branch. Sometimes, sole proprietors may be able to open a business account online while owners of other business types will have to visit the branch.

Whichever way you go, you'll need to provide a slew of information and documentation. Personal identification information can include your name, address, Social Security number, a government-issued ID and proof of address. Business information you'll likely need to provide includes:

  • Legal name, physical address and telephone number of business
  • Type of business
  • Tax ID number, ownership structure and number of employees
  • Percent of ownership and annual gross revenue

The documentation needed to open a business bank account varies depending on the type of business you have. These documents can include, if applicable:

  • Business license or certificate of good standing
  • Assumed name certificate
  • Copy of EIN assignment document
  • Letters testamentary or letters of administration
  • Trust agreement
  • Partnership agreement

Banks are generally forthcoming online about the information you'll need to bring to open a business account. If you’re having trouble finding this information or have questions, you can always call the institution or visit a branch.

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners.