Our pick for small businesses: Novo
- Zero Liability
- Accepted worldwide
- No minimum balance
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The right small business checking account helps you keep track of expenses and is easily accessible. But the right account for your business depends on your finances and everyday banking needs. That’s why we’ve created this guide to help you compare your options.
Use the table to compare top-rated small business checking accounts by monthly fee, minimum deposit and ATMs. If more than one account catches your eye, click the “Compare” box next to your favorite choices to view them side-by-side.
Keep these factors in mind when shopping around for a small business checking account:
To find a business checking account that fits your needs:
Keep these pros and cons in mind when shopping around for small business checking accounts:
There are a few fees that are common across most business checking accounts. The most common three include:
|Fee||What it is||How to avoid it|
|Monthly maintenance||Charged by the bank each month for maintaining your account.||Look for a business account with no monthly fees or fees that are easily avoidable when you meet certain deposit or transaction requirements.|
|Cash handling||You have a set amount of cash you can deposit for free each month. Go over this limit, and your bank may charge you a fee of around 30 cents for every $100 you deposit.||Calculate how much cash you bring in each month and find an account that matches this limit.|
|Excess transaction||There’s a limit to how many paid checks, ATM deposits and electronic transfers you can make each month. Go over this limit, and you’ll pay a fee of around 40 cents for each additional transaction.||Choose an account that matches the amount of transactions you typically make. Or, look for an account with unlimited transactions.|
Aside from a bank account, your business may also benefit from:
A business checking account helps your small business keep track of finances and simplify tax season. To find the option that’s right for you, compare bank accounts from different institutions.
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