Best Banks for Small-Business Checking 2023

Checking out your checking account options? Then you’ll love our rankings of the best banks for small-business checking.

Below, we’ve identified which banks have the best checking and what makes them stand out. We’ve chosen these banks based on their account offerings, banking fees, availability, customer reviews, and other key factors. And for bonus points, all of our picks offer nationwide banking for busy, on-the-go entrepreneurs.

We found that Bluevine offers the best small-business checking overall, thanks to the lack of almost any fees, a great interest rate, and ease of use.

But let’s take a look at all your best nationwide checking account choices.

To choose the best nationwide checking account for your business, you’ll want to consider a few key factors.

First, think about features. For example, if you prefer in-person banking, for example, you’ll want to check out how many branches are near you. But if you plan to withdraw lots of cash, you’ll care more about ATM density. You might also care about customer service (what hours you can contact support and how you can get in touch) or other products a bank offers (like credit cards, business loans, and merchant services).

And if you use certain accounting software or credit card processing service, you should make sure your bank account will integrate with it.

You should also look for these common fees:

• Monthly service fees
• Transaction fees
• Deposit fees
• Overdraft fees
• ATM fees

Find out if you get a certain number of free transactions, free cash deposits, or reimbursed ATM fees. (Most online banks offer unlimited transactions for free. Most brick-and-mortar banks have a transaction limit, after which you have to pay.)

And remember, most banks have an option to waive your monthly maintenance fees. However, in some cases, you have to maintain a specific minimum balance requirement or make a certain number of transactions. Of course, if that’s too much hassle, you can just go with a bank that doesn’t charge monthly fees.

Ultimately, how much you prioritize cheap fees over ATM locations will depend on how you bank. But these criteria should give you a good starting point.

Bluevine offers the best small-business checking account we’ve found.

That’s partially because Bluevine has interest-bearing checking, letting you earn up to 2.0% interest on balances of up to $250,000. That’s the best rate we’ve found for business interest checking (although you do have to qualify by using your Bluevine debit card or receiving payments in your account).

Plus, Bluevine offers free business checking, so you don’t have to make a minimum deposit to get an account, you won’t pay a monthly maintenance fee, you won’t have to maintain a minimum balance, and you don’t have to worry about transaction fees, or other common banking fees.

Bluevine comes with other key advantages too. For example, Bluevine recently added two free sub-accounts to its business checking. That way, you can set aside money for taxes, a planned purchase, or something else. Bluevine also gives you free checkbooks when you open an account

And though it is an online-only financial technology ("fintech") company, Bluevine makes it easy to deposit cash at any Green Dot location (often found in Walmarts, Walgreens, and other stores) for a small fee. 

As you can see, it’s just an all-around solid checking account. With all that, it’s easy to see why Bluevine has the best business checking account for most business owners.

Is your business a one-person show? Then check out Lili, a bank designed for solopreneurs.

Lili has all kinds of features to make things easier on solo operations―like a sub-account that you can use to automatically set aside money for taxes. Or invoicing software, to help you bill your clients. And expense management tools, including sorting to help you get the most deductions possible.

But Lili has more than just freelancer tools. It has features like a cashback debit card and a bonus savings account. It also earns positive customer reviews. Just note that you do need to pay for Lili Pro ($9.00) to get the most out of Lili―but we think it’s worth the cost.

Put simply, Lili offers better banking for solo operations.

Can’t wait several days to get approved for a checking account? Go with Small Business Bank.

Small Business Bank brags that it usually approves accounts either the day you apply or the day after. (Many other banks admit their process can take days or even weeks.) And even if Small Business Bank requires a little extra paperwork from you, it has nice, long customer support hours―giving you time to get everything in.

And don’t worry―Small Business Bank has more than account-opening speed going for it. It’s also quite affordable, since Small Business Bank doesn’t charge a monthly service charge or any transaction fees on its checking account (though unlike truly fee-free banks, you may encounter an nonsufficient funds fee or an incoming wire fee).

Why wait around to get approved? With Small Business Bank, you could have free business checking this time tomorrow.

Planning on growing your business a lot? Axos Bank can keep up.

Axos Bank offers checking accounts for businesses of many sizes. It offers an affordable basic checking account for small businesses that need a cheap solution, an interest-bearing account for businesses with higher account balances, and analyzed checking for commercial power users.

You’ll also find other types of bank accounts and banking services. Because while you may just need a checking account right now, you’ll probably need more from your bank―like merchant services or treasury management―as your business grows.

So rather than switch banks as your business scales, let Axos Bank grow alongside your business.

Found is an all-in-one platform making it easy for freelancers to bank, send and receive invoices, and care for their bookkeeping and taxes. And the best part - all of this is free. 

It also allows freelancers to accept payment through Venmo or PayPal and other apps. With Found, you can link your checking account to all of these apps and have your money transferred for free within 2 days. 

The application is quick and easy and does not require your credit score. Once you are accepted, you are welcome to use all of their services for no monthly fees and unlimited transactions. 

We love the banks and fintechs above, but they aren’t your only good options. We’ve got five more checking accounts to recommend.

Heads up, though: the entities recommended above all happen to be online, which means you can enjoy nationwide banking. But with traditional banks, like most of our honorable mentions, your location matters. So keep in mind that you may not be able to use the banks below, depending on where you are. (That’s why we’ve found the best bank for business in your state.)

NBKC Bank can help you cut through the (account) clutter with its business and personal bank accounts. NBKC is the rare bank that has both a great business checking account and a great personal checking account.Both accounts come free. To make things even better, the business checking account lets you add on a free money market savings account, which comes with a competitive interest rate. And the personal checking account happens to earn interest too (also at a very competitive rate).

Even with its very limited support hours, NBKC’s personal and business accounts make it a great bank for people who want to keep things simple―and in the same place. 

Kabbage checking accounts earn interest on most account balances (as long as they’re below $100,000). You get money simply for having money sitting in your bank account―no extra effort required. Now, Kabbage isn’t the only bank to offer interest-bearing checking. But unlike Bluevine, Kabbage doesn’t require you to meet any conditions to earn interest, so you can earn 1.1% APY no matter your spending habits.

So if you’re ready for a checking account that pays you back, give Kabbage a close look.  

NorthOne is the first account on this list to charge a monthly fee―and an unwaivable one at that. However, NorthOne packs a lot of value into that $10 monthly fee. It gives you free sub-accounts for all your financial planning needs. It offers lots of accounting software integrations. And outside of the monthly fee and wire transfer fees, NorthOne doesn’t charge other typical banking fees. Plus, it has much more robust customer support than most online banks.

So while we love the free banks above, NorthOne does give you quite a few features they don’t―and those features just might be worth paying for.

You need more than just a business checking account to run a successful company. Novo gets that. For example, Novo integrates with payment processors like Stripe, accounting software like QuickBooks and Xero, and even communication software like Slack. Plus, Novo tries to make it easier for you to get the other software and services you need by offering “perks,” or discounts, for other business-related companies, like Google Ads, Stripe, and QuickBooks.

All of which is to say that if you want your business checking account to work as part of your larger business ecosystem, Novo’s perks and integrations make it the checking account for you.

Like knowing someone always has your back? Citizens has 24/7 customer service for all your business banking needs. (Other banks with 24/7 support limit that to credit cards.) Plus, Citizens offers lots of ways to reach its customer service. For example, you can use a phone, email, Citizens’ online support forum, or even social media.

Whether you’re burning the midnight oil or rising early, you’ll know you can get help from Citizens.

With no service fee, no minimum deposit, and virtually no other fees (plus the convenience of online banking!) on its interest-bearing checking account, Bluevine is our top pick for small-business checking.

If time is of the essence, Small Business Bank’s fast approval times might interest you.  Or if you want a full-service bank, go with LendingClub. For businesses that plan to make it big, Axos Bank's business interest checking has plenty of options to scale with you. And Lili has great tools and perks for freelancers or other solopreneurs.

Enjoy your new account!

Now that you’ve found a business checking account, keep an eye on your cash with the best small-business accounting software.

We researched over 30 banks to get our list of the 10 best banks for small-business checking. To narrow things down, we looked at factors including account options, typical fees and costs, customer reviews, and other banking services. Then, we used these factors to score, rank, and review our top banks.

Disclaimer

At Business.org, our research is meant to offer general product and service recommendations. We don't guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.