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6 best free business checking accounts

Explore free accounts that lend a hand with accounting, earning interest and more.

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.

Best free business checking accounts

Do a deep dive into the best accounts by comparing their pros and cons:

Best free checking account for new freelancers

Lili

Finder Rating: 4.6 / 5 ★★★★★

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on Lili's secure site
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Lili helps freelancers stay on top of their business finances and taxes, automatically saving a percentage of revenue for tax time. From the app, categorize expenses between business and personal with a swipe and upload receipts. And if you open an emergency savings bucket with Lili Pro, you'll earn a 1.5% APY that isn't available on the basic plan.

Best free checking account for online businesses

Novo

Finder Rating: 4 / 5 ★★★★★

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on Novo's secure site
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If you like doing all your business banking with apps, Novo may suit you with its 15+ integrations for accounting, payroll, processing payments and more. Bypass processing fees when customers send you an ACH or check or with up to $20,000 in Stripe payments. Plus, create up to 10 Reserve savings accounts and automatically save part of your revenue to the accounts you choose.

Best free checking for ATM reimbursements

Axos Bank Basic Business Checking

Finder Rating: 4.5 / 5 ★★★★★

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on Axos Bank's secure site
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Axos Bank likes helping small businesses with unlimited, free rebates for US ATMs. Access its extensive ATM networks to withdraw or deposit cash, and get up to 60 mobile check deposits per month with unlimited transactions. Not all business accounts offer these features. Finally, having no monthly maintenance fee or minimum balance is ideal for times when profit margins are tight.

Best overall

Bluevine Business Checking

Finder Rating: 4.6 / 5 ★★★★★

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on Bluevine's secure site
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Bluevine blends the best of both worlds — few fees and a high 2% APY on qualifying balances. Don't worry about a monthly maintenance fee or keeping a minimum dollar amount in your checking. Then, create up to five subaccounts to categorize your finances, and give dedicated logins to your team for secure access. Bluevine also offers check-writing, which isn't available on other online-based business accounts.

Best free checking account for large businesses

NBKC Business Checking

Finder Rating: 4.5 / 5 ★★★★★

With many day-to-day transactions to deal with, NBKC makes sure that you don't deal with fees for monthly maintenance, overdrafts, bill payments or incoming domestic wire transfers. Also, use its mobile or ATM deposits at your convenience, features that aren't available with many online banks. If you need help, reach out to top-rated customer support by live chat, phone or email on weekdays.

Best free checking account for established freelancers

Wave Money

Finder Rating: 4.7 / 5 ★★★★★

Wave Money caters to single-owner businesses with no monthly maintenance fee or minimum balance requirement. Your account automatically categorizes debit card purchases, and you can connect other bank accounts and credit cards for seamless record-keeping. See your business' financial health at a glance, including monthly cash flow, bills and invoices. And if you need them, accounting advisors, payroll and payment processing features are at the ready for an added charge.

Methodology: How we choose the best accounts

Our banking experts peruse through over 50 business checking accounts to find the best free accounts available. First, we zero in on accounts with no monthly fees, then consider any requirements like minimum balances or opening deposits. We also look for accounts with free monthly transactions, favoring those that don’t put a cap on how many free transactions you can make.

Finally, we consider whether the account has ATM access, cash deposits or local branches. Our top picks may be accessible in one or two of these areas, but it’s rare to find all three features available with digital banks.

How to find the best free business checking account

Find the best free business checking account for your needs by considering these factors:
  • Fees and transaction limits. It’s not uncommon for business bank accounts to have monthly fees — and it’s also not uncommon for banks to charge you even more fees once you’ve made 200 or 500 transactions a month to and from your account.
  • Account perks. Depending on the account, it could earn interest, integrate with your accounting software, come with free invoicing and more. Consider which features will help you grow your business.
  • Accessibility. Most free accounts don’t come with cash deposits, but some like Bluevine are starting to offer it. Others may not support wire transfers or ATM withdrawals. Think about how you’ll deposit and withdraw money and find an account that supports those methods.

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
Read Review
$0$0CO, IL, IN, KY, MI, MN, OH, PA, SD, WV, WI
  • No charge for first 100 transactions and $5,000 in cash deposits per month
  • $100 sign up bonus when you open a new Huntington Business Checking 100 account by March 7, 2022, and deposit at least $2,000 within 60 days and keep the account open for at least 90 days.
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

Compare free business checking accounts by monthly transactions

Compare which free business checking account you need depending on monthly transactions and your business type.

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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on Axos Bank's secure site
$0$0Unlimited
  • Unlimited ATM reimbursements
  • Compatible with Quickbooks
TIAA Bank Small Business Checking account
Read Review
$0$1,500200
  • 10 free online bill pays a month
  • Earns 0.5% APY
  • 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
First Internet Bank Small Business Checking
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on First Internet Bank's secure site
$0$0Unlimited
  • 0.5% APY on balances over $10,000
  • Up to $10 in ATM free reimbursements each month
Novo Business Checking account
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on Novo's secure site
$0$0Unlimited
  • Unlimited ATM refunds
  • Integrates with Slack, Xero and Zapier
Bluevine Business Checking account
Go to site
on Bluevine's secure site
$0$0Unlimited
  • Earns 2% APY on up to $100,000
  • Accepts cash deposits
  • Integrates with QuickBooks Online, Wave, Freshbooks, PayPal, Striple, Expensify and more
NBKC Business Checking account
Read Review
$0$0Unlimited
  • 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

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 online

Applying online for a business account typically takes a few minutes with the right documens in hand, but the exact steps will look different from bank to bank.

  1. Navigate to the bank’s website and choose a business account to start your application.
  2. Get your important documents ready, including your Social Security number, government-issued ID, Employee Identification Number and business certifications.
  3. Follow the prompts to enter your personal and business information, uploading documents to the application as needed.
  4. Provide details to fund your account, such as an external account number or credit card information.

Can you open a free business account with no deposit?

Yes, you’ll see a variety of free business accounts that don’t require a minimum opening deposit, especially with digital banks like Bluevine. Businessowners used to rely on brick-and-mortar banks to open their accounts — and many require either a hefty minimum balance or charge a monthly fee.

However, digital business accounts have less overhead than traditional accounts, making features like no minimum opening deposits more available.

Compare other business checking accounts

Narrow down business accounts by monthly fee, APY and ATMs to find the best for your budget and financial goals. Select Compare for up to four products to see their benefits side by side.

Name Product Fee APY ATMs Minimum deposit to open
Live Oak Bank Small Business Checking Account
Finder Rating: 4.7 / 5: ★★★★★
Live Oak Bank Small Business Checking Account
$0
N/A
Access over 55,000 free in-network ATMs
$0
Pay $0 monthly and account opening fees. Deposit checks, pay bills and initiate transfers online. Access a large network of 55,000+ fee-free ATMs. Connects to QuickBooks.
Found
Finder Rating: 4 / 5: ★★★★★
Found
$14.99 monthly or $95.88 annually for Found Plus
N/A
You can use your Found card at any ATM
$0
Designed for freelancers and self-employed individuals, Found offers banking, bookkeeping, invoicing, tax withholdings and payments, and more. Manage everything from one app.
Bluevine Business Checking
Finder Rating: 4.6 / 5: ★★★★★
Bluevine Business Checking
$0
2.00% on balances of $0 to $100,000 You need spend $500 a month or receive $2,500 a month in customer statements.
38,000+ MoneyPass® locations nationally
$0
No hidden fees: $0 monthly, overdraft, minimum deposit and transaction fees. Get 2 free checkbooks a year. Earn 2% interest on up to $100,000 after qualifying transactions. Organize your business finances with 5 sub-accounts with unique account numbers. Receive secure logins for each team member.
Lili
Finder Rating: 4.6 / 5: ★★★★★
Lili
$9 for Lili Pro
1.50% With Lili Pro and by opening an Emergency savings account
38,000 fee-free ATMs nationwide
$0
Small business owners and freelancers get paid up to two days early and can automatically set aside money for taxes with the Lili digital banking account.
First Internet Bank Small Business Checking
Finder Rating: 4.5 / 5: ★★★★★
First Internet Bank Small Business Checking
$0
0.50% on balances of $10,000+
0.00% on balances of $0 to $9,999
Up to $10 ATM fee reimbursements a month, plus free access to the ATM Plus Network
$0
Get banking tools designed to help you run and build your business, such as budgeting tools, net worth reports and financial wellness tracking. Earn 0.5% APY with a balance of $10,000. Get reimbursed up to $10 per month in ATM fees. Pay no hidden fees with $0 monthly fees, $0 minimum balance and unlimited monthly 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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