13 Best Business Checking Accounts for 2021


Opening a business checking account can be a little daunting. Finding a good business checking account is important for so many reasons; for smooth business operation, organized recordkeeping, and more.

Every business has different needs as far as checking account features go. The best business checking accounts will meet a number of needs for your company’s finances:

  • The features you need
  • Low fees
  • The right accessibility tools

Which one is best for you? We’re sharing information on some of today’s most popular banks for business owners so you can more easily make that decision. Check out the scoop on each one and see which one might be best for your business.

Table of Contents
  1. 1. BlueVine Business Checking
  2. 2. Radius Bank Tailored Checking for Business
  3. 3. nbkc Bank Free Business Checking
  4. 4. Novo Business Checking Account
  5. 5. Chase Business Complete Banking
  6. 6. Axos Bank Basic Business Checking
  7. 7. Huntington Bank Business Checking 100
  8. 8. Citizens Bank Clearly Better Business Checking
  9. 9. BBVA USA Business Connect
  10. 10. U.S. Bank Silver Business Checking
  11. 11. NorthOne
  12. 12. First Internet Bank Small Business Checking
  13. 13. Wells Fargo Initiate Business Checking
  14. Summary

1. BlueVine Business Checking

BlueVine is a bank that was created especially for small business owners. BlueVine Business Checking is a free business checking account and the company also offers lines of credit and other benefits such as vendor and bill pay.

BlueVine Business Checking main features:

  • Minimum opening deposit/balance requirements: None
  • Monthly fees: None
  • ATM fees: None at over 38,000 ATMs
  • Transactions: Unlimited

They don’t have physical locations but you can deposit cash at one of their 90,000 retail partners through Green Dot. Oh, and they’ll pay you 1% interest on bank balances of up to $100,000.

They’re FDIC insured through their partnership with Bancorp Bank, and they have a phone and an email customer service option.

Best For: Small business owners that keep a healthy account balance and want to earn interest

Get started with BlueVine

2. Radius Bank Tailored Checking for Business

Radius Bank was founded in 1987 and is headquartered in Boston, Massachusetts. One cool thing about the Radius Tailored business checking account is that it pays cash back on debit card purchases and pays interest on balances if you keep a minimum balance of $5,000 in the account.

However, you are not required to keep a minimum balance with this account.

Tailored Checking for Business main features:

  • Minimum opening deposit/balance requirements: $100/None
  • Monthly fees: $10, waived with minimum balance of $5,000
  • ATM fees: Unlimited ATM fee reimbursements
  • Transactions: Unlimited

The Radius Bank online accounts allow for 24/7 mobile banking including digital invoices, bill pay, mobile deposit, and other features. And the ATM fee reimbursement promise covers ATM usage worldwide.

You can open a Radius Bank business checking account online in less than 10 minutes.

Best For: Those wanting to earn cash back on purchases and interest on balances

Get started with Radius Bank

3. nbkc Bank Free Business Checking

The nbkc Bank Free Business Checking rounds out our list for several reasons. First, they are named by Glassdoor as one of the best places to work in 2019. They seem to treat their employees well and offer perks such as four weeks of paid time off to new employees.

And nbkc’s Free Business Checking is very competitive in terms of what it offers business owners.

nbkc Free Business Checking account features:

  • Minimum opening deposit/balance requirements: None
  • Monthly fees: None
  • ATM fees: No charge for in-network ATM usage
  • Transactions: Unlimited

The one thing you might want to keep in mind about this account is that they may hold your initial deposit for up to nine business days. Now, this is a standard practice with a lot of banks, but nbkc talks about it up front so customers are aware.

nbck does have four locations in Kansas for if you want to make cash deposits, but it primarily appeals to business owners that want to bank online.

Best For: Small businesses that wish to bank remotely

Get started with nbkc

4. Novo Business Checking Account

Novo is another online banking platform that was built specifically for business owners. They partner with Middlesex Federal Bank in Massachusetts so that bank deposits are FDIC insured.

Novo’s Best Business Checking Account main features:

  • Minimum opening deposit/balance requirements: $50/None
  • Monthly fees: None
  • ATM fees: All ATM fees will be refunded
  • Transactions: Some daily/monthly limits on transactions, for example, check deposits are limited to $40,000 per month

Novo says the transaction limits they’ve implemented are temporary as they build history and begin to learn about your banking habits. Novo partners with other business tools such as Stripe and Quickbooks as well.

The company offers free check mailing to vendors too – all via the app. Chip protected debit cards and bank-level security provide added benefits. And Novo has perks for business owners that can add up to thousands of dollars in savings on new products and services.

Best For: Startups and small businesses

Get started with Novo

5. Chase Business Complete Banking

Chase Business Complete Banking has the Chase reputation to back it up and gets high scores from organizations like Consumer Reports. It also offers built-in card acceptance with Chase QuickAccept via the app.

Chase Business Complete Banking main features:

  • Minimum opening deposit/balance requirements: None
  • Monthly fees: $15, with options to waive
  • ATM fees: Free in-network ATMs
  • Transactions: 100 free each month

Note that there are fees for using the QuickAccept app feature. But on the up side, Chase often offers opening bonuses when you meet minimum balance/deposit/transaction requirements.

Chase offers online bill pay, QuickDeposit, and wire transfer capabilities as well. And they’ve got business accounts that offer different features for when your business gets larger.

Best For: Businesses who keep at least $2,000 in their checking account and want a big name behind their business account

6. Axos Bank Basic Business Checking

Axos Bank has been in the banking business for 20 years and the company’s Basic Business Checking is great for small business owners. The company opened on July 4, 2000, and are FDIC insured and publicly traded.

Axos is able to keep banking costs low because of its focus on lean management and innovative banking technology. And they’ve got a live-person customer service center that’s open from 6 a.m. to 6 p.m. Monday through Friday.

Basic Business Checking main features:

  • Minimum opening deposit/balance requirements: $1,000/None
  • Monthly fees: None
  • ATM fees: Surcharge-free/reimbursed ATM use nationwide
  • Transactions: 200 free each month

Axos is Quickbooks compatible too. And your first 50 business checks are free. You can deposit checks remotely using your Axos app on your mobile device. And you get free bill pay and free image statements as well.

Best For: Small and new small business owners that want totally free checking

7. Huntington Bank Business Checking 100

Huntington Bank has over 150 years of experience in the banking business. They’ve got over 900 branches in states including Ohio, Michigan, Pennsylvania, Indiana, Illinois, West Virginia, and one bank in Florida.

Huntington Bank has live customer service representatives available Monday through Saturday too.

Business Checking 100 main features:

  • Minimum opening deposit/balance requirements: None
  • Monthly fees: None
  • ATM fees: None for Huntington ATMs, $3.00 for non-Huntington ATMs
  • Transactions: 100 free each month

They’ve got a great overdraft protection plan too where there’s no fee if you have money automatically transferred from your Huntington Bank savings or money market account.

In addition, they’ve got a 24-hour grace period for businesses too. If your account gets overdrawn, you’ve got 24 hours to get funds in before they’ll charge an overdraft fee.

Best For: Small businesses and startups with low activity

8. Citizens Bank Clearly Better Business Checking

Citizens Bank is one of the oldest and largest banks in the U.S. They’ve got over 1,000 branches in the New England States, Mid-Atlantic States, and in the Midwest.

24/7 customer service adds to the appeal of their Clearly Better Business Checking Account.

Clearly Better Business Checking main features:

  • Minimum opening deposit/balance requirements: None
  • Monthly fees: None
  • ATM fees: None at in-network ATMs
  • Transactions: 200 free each month

Citizens offers a savings-to-checking auto transfer for overdrafts too, but there is a $12 fee for each occurrence. You can sign up for an overdraft line of credit, however there is a $20 annual fee for that, along with the $12 per-occurrence transfer fee.

The Clearly Better Business checking account comes with comprehensive mobile banking capabilities as well.

Best For: Small businesses with modest activity

9. BBVA USA Business Connect

BBVA USA Bank has been around since 1964 and has physical locations in California, Arizona, Florida, Colorado, Alabama, New Mexico, and Texas. However, the BBVA USA Business Connect checking account is designed specifically for digital use.

And if you’re a sole proprietorship you can apply completely online. Other types of small businesses need to call the customer service line or go into a branch to open an account. is one of the oldest and largest banks in the U.S.

BBVA USA Business Connect checking main features:

  • Minimum opening deposit/balance requirements: $100/None
  • Monthly fees: None
  • ATM fees: None at BBVA USA and Allpoint ATMs
  • Transactions: Unlimited (some exclusions apply)

This account offers free mobile banking, bill pay, and other online banking activities. However, there are some limits and fees for in-person banking with this account. See the BBVA USA website for more details.

Best For: Sole proprietorships that don’t do a lot of cash business

10. U.S. Bank Silver Business Checking

U.S. Bank has decades of banking experience behind its name; it’s the fifth-largest bank in the United States. It’s got over 3,000 branch locations, primarily in the Western and Midwestern states.

The U.S. Bank Silver Business checking account is geared toward small or startup businesses and has lots of great features.

U.S. Bank Silver Business checking main features:

  • Minimum opening deposit/balance requirements: None
  • Monthly fees: None
  • ATM fees: No charge for in-network ATM usage
  • Transactions: 125 free each month

Note that with this account you can’t make any more than 25 cash deposits each month. If you deal heavily in cash you’ll want to limit your deposits to weekdays, but that shouldn’t be too difficult.

The account also comes with a 50% discount on your first check order (up to $50). This account also features bill pay and credit card processing. You can get an overdraft protection line too, however, there is a fee each time your overdraft line kicks in.

Best For: New or smaller businesses with limited transactions

11. NorthOne

NorthOne calls itself a “simple and fast digital business bank account.” It takes under three minutes to open an account online with NorthOne, and you can run your business with NorthOne anywhere in the world.

The mobile app allows you to deposit checks, make transfers, and more. Because it’s an online bank, cash deposits aren’t allowed.

NorthOne business checking account main features:

  • Minimum opening deposit/balance requirements: $50/None
  • Monthly fees: $10 per month
  • ATM fees: No charge for in-network ATM usage
  • Transactions: Unlimited (some exclusions apply)

All payments, deposits, transfers, and debit card usage is unlimited. And NorthOne has over 300,000 in-network ATMs.

Your money is FDIC insured through NorthOne’s banking partner, Radius Bank. You get bill pay as well and can have unlimited sub-accounts for payroll, taxes, or whatever you need. And you can do domestic wire transfers for just $10 each.

Best For: Businesses that can operate entirely online and have no cash deposits

12. First Internet Bank Small Business Checking

First Internet Bank is an online bank that’s named such because it was, well, the first truly internet-based bank. Yes, they opened way back in 1999, and all accounts are FDIC insured.

Newsweek named this account the “Best Small Business Checking Account for 2021″. Here are some of the features that warrant such a title.

First Internet Bank Small Business Checking features:

  • Minimum opening deposit/balance requirements: $100/None
  • Monthly fees: None
  • ATM fees: No charge for in-network ATM usage
  • Transactions: Unlimited

First Internet Bank will also reimburse you up to $10 per month for ATM fees from other banks. Again, this is an online-only bank so you can’t deposit cash. Mobile and online deposits and transactions are necessary.

Oh, and these guys will pay you interest if you keep at least $10,000 in your checking account. They’ve got business savings accounts and some commercial lending options too.

Best For: Freelancers and small businesses that can operate entirely online

13. Wells Fargo Initiate Business Checking

Personally, I’m not a big fan of big banks. But the Wells Fargo Initiate Business checking account is well worth the mention.

Wells Fargo is the fourth largest bank in the United States and has over 8,000 branch locations spread throughout the U.S. The Initiate Business checking account really holds its own in terms of competing with the other accounts mentioned here.

Wells Fargo Initiate Business checking features:

  • Minimum opening deposit/balance requirements: $25/None
  • Monthly fees: $10, but waived when you keep a minimum balance of $500
  • ATM fees: No charge for in-network ATM usage
  • Transactions: 100 free each month

One nice thing about this account is that you can make up to $5,000 in cash deposits for free each month. If you have more cash to deposit in a given month, you’ll pay 30 cents for each $100 in cash deposited.

Mobile deposits and bill pay options are included. Wells Fargo also has a feature called Zero Liability protection. With Zero Liability protection, you won’t be responsible for unauthorized transactions on your account if you report them promptly.

And there’s no charge for this feature.

Best For: Small businesses that want to partner with a big bank and/or have some cash transactions

Summary

You can start a small business pretty much anywhere these days, and without spending a lot of money up front.

And when you do, you’ve got several great banks to choose from as you work to find the best business checking accounts for your small business. Each of the banks mentioned here has several features that make business banking convenient and budget-friendly.

Which bank do you use for your small business? Why do you like it? Let us know by leaving us a comment.



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