Finder’s pick: BlueVine Business Checking
$0
Monthly fee
- Up to 1% APY
- Unlimited transactions
- Software integrations
The best free business checking account offers unlimited transactions and built-in tools to help you manage your cash flow. But unlike personal checking accounts, there’s usually a limit to how many deposits and transfers you can make each month. Once you hit that limit, you pay a fee for additional transactions.
We researched over 50 accounts to bring you the best free business bank accounts available today. This meant zeroing in on accounts with no monthly fees, then digging into other factors like opening deposit requirements, number of free monthly transactions and availability.
What’s changed in 2021?
We removed Azlo from our list because BBVA is discontinuing it. We replaced it with BlueVine because it has unlimited transactions, a 1% APY and integrates with major accounting and bookkeeping platforms.
We added Lili as the best checking account for new freelancers because it has built-in tools to help you set aside money for taxes and track expenses. We added Wave Money as best for established freelancers because it integrates with Wave’s bookkeeping software and has higher transfer limits than Lili.
Novo was named the best account for online businesses because it has unlimited transactions and no monthly fees, but you can’t deposit cash.
Do a deep dive into the best free business bank accounts by comparing their pros and cons:
Best overall
APY | 1% |
---|---|
Account fees | $0 monthly |
Can the fee be waived? |
Yes
|
Insufficient funds fee | $0 |
ATM transaction fee | $0 |
Overdraft fee | $0 |
Best free checking account for small businesses
APY | 0% |
---|---|
Account fees | $0 monthly |
Can the fee be waived? |
Yes
|
Insufficient funds fee | $25 |
ATM transaction fee | $0 |
Best free checking account for small businesses
APY | 0% |
---|---|
Account fees | $0 monthly |
Can the fee be waived? |
Yes
|
Insufficient funds fee | $27 |
ATM transaction fee | $0 |
Paper statement fee | $0 |
Foreign transaction fee | 0% |
Overdraft fee | $0 |
Accout closure fee | $0 |
Best free checking account for new freelancers
APY | 0% |
---|---|
Account fees | $0 monthly |
Can the fee be waived? |
Yes
|
ATM transaction fee | $0 |
Foreign transaction fee | 0% |
Overdraft fee | $0 |
Best free checking account for large businesses
APY | 0% |
---|---|
Account fees | $0 monthly |
Can the fee be waived? |
Yes
|
Overdraft fee | $0 |
Best free checking account for established freelancers
APY | 0% |
---|---|
Account fees | $0 monthly |
Can the fee be waived? |
Yes
|
ATM transaction fee | $0 |
Overdraft fee | $0 |
Generally, you must open your business bank account in the same state where you conduct business. These free business checking accounts are offered throughout several states.
Institution | Monthly fee | Minimum opening deposit | Availability | Features |
---|---|---|---|---|
Huntington Business Checking 100 accountRead review | $0 | $50 | IL, IN, KY, MI, OH, PA, WV |
|
BBVA Business Connect Checking | $0 | $100 | AL, AZ, CO, FL, NM, TX |
|
Citizens Bank Clearly Better Business Checking account | $0 | $10 | CO, MA, NH, NJ, PA, RI, VT |
|
First National Bank of Omaha Business Free Checking account | $0 | $0 | CO, IA, KS, NE, SD, TX, IL |
|
Cathay Bank Business Checking | $0 | $200 | CA, NY, WA, IL, TX, MD, MA, NV, NJ |
|
First Citizens Bank Basic Business Checking | $0 | $0 | AZ, CA, CO, FL, GA, KS, MD, MO, NM, NC, OK, OR, SC, TN, TX, VA, WA, WV |
|
United Bank Free Business Checking | $0 | $100 | DC, MD, VA |
|
First National Bank Free Small Business Checking | $0 | $0 | MD, NC, OH, PA, SC, WV |
|
America First Credit Union Basic Business Checking | $0 | $0 | AZ, ID, NE, NM, OR, UT |
|
Compare which free business checking account you need depending on monthly transactions and your business type.
Here’s a list of free business checking account options for startups and small businesses.
Institution | Monthly fee | Minimum opening deposit | Free monthly transactions | Features |
---|---|---|---|---|
Axos Bank Basic Business Checking accountGo to site | $0 | $1,000 | 200 |
|
TIAA Bank Small Business Checking accountRead review | $0 | $1,500 | 200 |
|
Navy Federal Credit Union Business Checking account | $0 | $0 | Unlimited (Online) 30 (In-person) |
|
Bank of the Ozarks Small Business Checking account | $0 | $100 | 250 |
|
US Bank Silver Business Checking | $0 | $0 | 125 |
|
These free business checking accounts are offered online.
Institution | Monthly fee | Minimum opening deposit | Free monthly transactions | Features |
---|---|---|---|---|
BlueVine Business Checking accountGo to site | $0 | $0 | Unlimited |
|
Novo Business Checking accountGo to site | $0 | $50 | Unlimited |
|
NBKC Business Checking accountRead review | $0 | $5 | Unlimited |
|
First Internet Bank Small Business Checking account | $0 | $500 | Unlimited |
|
Most free checking accounts are offered by online-only banks or small credit unions. Let’s take a look at some pros and cons:
Usually, a free business checking account doesn’t have monthly fees. But a fee-free checking account takes it a step further by doing away with common fees charged by most banks.
If you’re looking for a business checking account that’s truly free, watch out for these small charges that could eat up a chunk of your profits:
How you open a free business bank account varies from institution to institution. But these are the general steps you’ll take:
Whether you started your business today or have been making money for years, there’s a free business checking account out there to meet your banking needs. Be sure to find one that can accommodate the size of your business and won’t hit you with little fees if you have a better month than usual. The best business checking accounts are ones that offer a perfect mix of features, high transactions and low fees.
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