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Compare free business checking accounts

Find an account that won’t charge you for doing business.

Updated

Fact checked

Finder’s pick for free business checking: Axos Bank Basic Business Checking

Axos Bank Basic Business Checking logo

$0

Monthly fee

  • First set of 50 checks free
  • Compatible with Quickbooks
  • Surcharge-free ATM network nationwide
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You shouldn’t be forced to pay banking fees just because you run a business. We’ve rolled up our sleeves and gathered a list of the best free business checking accounts available today.

Best free business checking accounts

Axos Bank Basic Business Checking account

Best free checking account for small businesses

  • Minimum opening deposit: $1,000
  • Monthly fee: $0

Azlo Business Checking account

Best free online business checking account

  • Minimum opening deposit: $0
  • Monthly fee: $0
NBKC Bank logo

NBKC Business Checking account

Best free checking account for large businesses

  • Minimum opening deposit: $5
  • Monthly fee: $0

How did we choose the best free business checking accounts?

With hundreds of free business checking accounts available, it can be hard narrowing down which one you should go with. That’s why we focused on strict criteria to find the best free business checking accounts.

For our best list, we zeroed in on business checking accounts with no monthly fee, then factored in other important features like opening deposit requirements, number of free monthly transactions and availability.

Free business checking accounts by state

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.

InstitutionMonthly feeMinimum opening depositAvailabilityFeatures
Huntington Business Checking 100 account
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$0$50IL, IN, KY, MI, OH, PA, WV
  • No charge for first 100 transactions and $5,000 in cash deposits per month
  • $200 sign up bonus when you deposit at least $2,000 within 60 days of account opening
BBVA Business Connect Checking$0$100AL, AZ, CO, FL, NM, TX
  • Up to $5,000 in free cash processing per month
  • Two free in-branch deposits monthly
  • Access to over 43,000 free ATMs
Citizens Bank Clearly Better Business Checking account$0$10CO, MA, NH, NJ, PA, RI, VT
  • Up to 200 free check transactions a month
  • Overdraft transfer or line of credit
  • Access to 1,100 branches and over 3,100 ATMs
First National Bank of Omaha Business Free Checking account$0$0CO, IA, KS, NE, SD, TX, IL
  • Up to 150 free transactions a month
  • Free online bill pay
  • $200 mortgage closing cost credit
Cathay Bank Business Checking$0$200CA, NY, WA, IL, TX, MD, MA, NV, NJ
  • 25 free deposits a month
  • 50 free checks paid a month
  • Free business bill pay
  • Business debit card
First Citizens Bank Basic Business Checking$0$0AZ, CA, CO, FL, GA, KS, MD, MO, NM, NC, OK, OR, SC, TN, TX, VA, WA, WV
  • 175 free transactions a month
  • $5,000 in free cash deposits a month
United Bank Free Business Checking$0$100DC, MD, VA
  • 500 free transactions a month
  • Free bill pay
  • Business debit card
First National Bank Free Small Business Checking$0$0MD, NC, OH, PA, SC, WV
  • 150 free transactions a month
  • Unlimited check deposits
  • Access to 550 FNB ATMs
America First Credit Union Basic Business Checking$0$0AZ, ID, NE, NM, OR, UT
  • 250 free transactions a month
  • Free online bill pay

How do I compare free business checking accounts?

The type of free business checking account you need depends on your business structure and the number of monthly transactions you have. Here’s a look at some popular options.

Accounts for small businesses

Here’s a list of free business checking account options for startups and small businesses.

InstitutionMonthly feeMinimum opening depositFree monthly transactionsFeatures
Axos Bank Basic Business Checking account
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$0$1,000200
  • Unlimited ATM reimbursements
  • Compatible with Quickbooks
TIAA Bank Small Business Checking account
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$0$1,500200
  • 10 free online bill pays a bill
  • Earns 0.40% APY first year and to 0.25% APY after that
  • Access to over 80,000 free ATMs nationwide
Navy Federal Credit Union Business Checking account$0$0Unlimited (Online) 30 (In-person)
  • Earns 0.05% APY
Bank of the Ozarks Small Business Checking account$0$100250
  • Free online bill pay
US Bank Silver Business Checking$0$0125
  • 25 free cash deposits a month

Accounts for online businesses

These free business checking accounts are offered online.

InstitutionMonthly feeMinimum opening depositFree monthly transactionsFeatures
NBKC Business Checking account$0$5Unlimited
  • No stop payment fees, no incoming domestic wire transfer fees, access to 32,000 free ATMs
  • Up to $12 in monthly ATM refunds
  • Free overdraft protection when you have an NBKC business savings account
Azlo Business Checking account
Read review
$0$0Unlimited
  • Create and send digital invoices
  • Integrates with Square and Stripe for in-person payments
Novo Business Checking account
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$0$50Unlimited
  • Unlimited ATM refunds
  • Integrates with Slack, Xero and Zapier
First Internet Bank Small Business Checking account$0$500Unlimited
  • 0.70% APY on balances over $10,000
  • Up to $10 in ATM free reimbursements each month

What are the pros and cons of free business checking?

Most free checking accounts are offered by online-only banks or small credit unions. Let’s take a look at some pros and cons:

Pros

  • No fees. Nothing is better than free, and you won’t pay any monthly maintenance fees when you choose a free business checking account.
  • Features to help you run your business. Some free business checking accounts come with helpful perks like app integrations, payroll services and fraud monitoring that help you run your business with ease.
  • Low opening deposits. Most free business checking accounts are ideal for new and small businesses because they have minimal opening deposit requirements.

Cons

  • May not accept cash deposits. Because most free business checking accounts are offered by online-only banks, you may not be able to easily deposit cash.
  • May have limited transactions. Most free business checking accounts have a cap on the number of free transactions you can make a month. If you go over this limit, you’ll pay a small fee for each additional transaction.
  • Watch out for small fees. Just because a bank offers a free business checking account, it could still nickel-and-dime you for other expenses. Make sure you read the fine print to get a clear idea of how to avoid costly fees.

How do I know if it’s really a fee-free business checking account?

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:

  • Minimum balance fees. If an account requires a minimum balance, make sure you can comfortably maintain it each month. Otherwise, you may pay a fee.
  • Transaction fees. Some banks give you a set number of free monthly transactions, but then charge you a fee if you go over this limit. Make sure you choose an account that won’t charge you an arm and a leg if your business performs better than usual.
  • Overdraft fees. What happens if your account balance drops below $0 after a big purchase? The bank may cover the overdraft and charge a hefty fee, automatically decline the transaction or move money from your savings account.
  • ATM fees. Either look for a bank with a large ATM network or find one that reimburses fees.
  • Transfer fee. Check to see if you’ll pay a fee to transfer money to a checking account at another bank. ACH transfers are typically free, but outgoing wires can be expensive.

How to open a free business checking account

How you open a free business checking account varies from institution to institution. But these are the general steps you’ll take:

  1. Visit the financial institution’s website to see if you qualify for the free business checking account.
  2. Determine if you can open the account online, by phone or in person.
  3. Gather the appropriate documents, including your Social Security number, government-issued photo ID, Employee Identification Number (EIN) and business certifications.
  4. Fill out the application either online, by phone or at a local branch.
  5. Give the bank the required paperwork and pay the minimum opening deposit.

Compare with other business checking accounts

Data indicated here is updated regularly
Name Product Fee Minimum deposit to open ATMs
NorthOne Business Banking
$10 per month
$50
More than 300,000 ATMs across America.

A digital bank account featuring free cash deposits, on-demand customer support and streamlined bookkeeping integrations.
Novo
$0 per month
$50
Novo doesn't charge ATM fees and will reimburse any non-network fees you incur
A low-fee online checking account designed for small businesses and startups, but you won’t be able to deposit cash.
Axos Bank Basic Business Checking
$0 per month
$1,000
ATM fees reimbursed at any ATM nationwide
No monthly maintenance fees, a low minimum deposit requirement and unlimited domestic ATM fee reimbursements.
Radius Bank Tailored Checking
$10 per month
$100
More than 20,000 ATMs + unlimited ATM surcharge rebates
with Tailored Checking get free ATMs worldwide and unlimited penalty-free transactions.
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Bottom line

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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