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finder.com’s rating: 4.7 / 5.0
★★★★★
Wave Financial recently announced its first-ever business bank account that helps simplify business finances. There are no fees, free instant payouts and built-in bookkeeping so you no longer have to categorize or reconcile transactions. But as of June 2020, only current Wave customers can reserve their spot for early access and the account doesn’t support multi-owner businesses.
$0 per month
Fee
$0
Minimum deposit to open
APY | N/A |
---|---|
Fee | $0 per month |
Minimum deposit to open | $0 |
ATMs | over 55,000 surcharge-free ATM's |
ATM transaction fee | $0 |
Overdraft fee | $0 |
Review by
Cassidy Horton is a writer for Finder, specializing in banking and kids’ debit cards. She’s been featured on Legal Zoom, MSN, and Consolidated Credit and has a Bachelor of Science in Public Relations and a Master of Business Administration from Georgia Southern University. When not writing, you can find her exploring the Pacific Northwest and watching endless reruns of The Office.
Wave Money has zero fees and offers tools that automatically balance your books and give you financial insights about your business. The main downside of Wave Money is that it doesn’t support multi-owner businesses.
Wave hasn’t announced what you’ll need to open an account, but most business checking accounts require the following information:
Dip your Wave Money Visa debit card into 55,000+ free ATMs nationwide. Wave won’t charge you a fee for using an ATM outside of this network, but the operator might. You can find a free ATM near you in the Wave Money mobile app.
If you were hoping to open an account with your business partner, consider exploring our list of the best free business checking accounts.
Here are all the ways you can access funds in your Wave Money account:
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.