Free business checking accounts don't charge monthly fees. The best no-fee small-business checking accounts limit additional expenses, too, by offering free ATM access or no overdraft fees. Most free accounts come from online-only financial institutions; if you want branch access, the
U.S. Bank Silver Business Checking
is a rare business checking account from a brick-and-mortar bank with no monthly maintenance fee.250+ small-business products reviewed and rated by our team of experts.
80+ years of combined experience covering small-business and personal finance.
Objective comprehensive business bank accounts rubric (Methodology).
NerdWallet's business banking content — including our ratings, reviews and recommendations — is produced by a team of writers and editors who specialize in small-business finances. Their journalism has appeared in The Associated Press, Washington Post, MarketWatch, Nasdaq, Entrepreneur, ABC News, MSN and other national and local media outlets. Each writer and editor follows NerdWallet's strict editorial guidelines to ensure fairness and accuracy in our coverage.
Best Free Business Checking Accounts
| Best for | NerdWallet rating▼ | Monthly fee▼ | APY▼ | Bonus▼ | Learn more |
|---|---|---|---|---|---|
Online business banking Bluevine Business Checking Learn more at Bluevine, Deposits are FDIC Insured | 5.0/5 | $0 | 1.50% With $0 min. balance for APY | $300 Requirements to qualify | Learn more at Bluevine, Deposits are FDIC Insured |
24/7 customer support American Express® Business Checking Learn more at American Express National Bank, Member FDIC | 5.0/5 | $0 | 1.30% With $0 min. balance for APY | 30,000 points Requirements to qualify | Learn more at American Express National Bank, Member FDIC |
1% cash back on debit card purchases Grasshopper Innovator Business Checking Account Learn more at Grasshopper Bank, Member FDIC | 4.8/5 | $0 | 1.80% With $25,000 min. balance for APY | $300 Requirements to qualify | Learn more at Grasshopper Bank, Member FDIC |
Brick-and-mortar banking U.S. Bank Silver Business Checking Learn more at U.S. Bank, Member FDIC | 4.1/5 | $0 | N/A | $500 Requirements to qualify | Learn more at U.S. Bank, Member FDIC |
Midsize businesses Relay Business Checking Learn more at Relay, Deposits are FDIC Insured | 4.8/5 | $0 | N/A | N/A | Learn more at Relay, Deposits are FDIC Insured |
ATM fee refunds, cash deposits Axos Bank® Basic Business Checking Learn more at Axos Bank®, Member FDIC | 4.7/5 | $0 | N/A | $400 Requirements to qualify | Learn more at Axos Bank®, Member FDIC |
Simple online banking nbkc Business Account Learn more at nbkc bank, Member FDIC | 4.6/5 | $0 | N/A | N/A | Learn more at nbkc bank, Member FDIC |
Self-employed workers Found Small Business Banking Learn more at Found, Deposits are FDIC Insured | 4.4/5 | $0 | N/A | $125 Requirements to qualify | Learn more at Found, Deposits are FDIC Insured |
Venture-backed startups Mercury Business Bank Account Learn more at Mercury, Deposits are FDIC Insured | 4.6/5 | $0 | N/A | $300 Requirements to qualify | Learn more at Mercury, Deposits are FDIC Insured |
Digital freelancers Novo Business Checking Learn more at Novo, Deposits are FDIC Insured | 4.2/5 | $0 | N/A | N/A | Learn more at Novo, Deposits are FDIC Insured |
Early access to payments Lili Basic Business Checking Learn more at Lili, Deposits are FDIC Insured | 4.1/5 | $0 | N/A | N/A | Learn more at Lili, Deposits are FDIC Insured |
High APY North One Standard Business Checking Learn more at North One, Deposits are FDIC Insured | 4.7/5 | $0 | 2.50% With $0 min. balance for APY | $20 Requirements to qualify | Learn more at North One, Deposits are FDIC Insured |
Military-affiliated entrepreneurs Navy Federal Credit Union Business Checking | 4.2/5 | $0 | 0.01% With $0 min. balance for APY | N/A | |
| Best for | NerdWallet rating▼ | Monthly fee▼ | APY▼ | Bonus▼ | Learn more |
|---|---|---|---|---|---|
Online business banking Bluevine Business Checking Learn more at Bluevine, Deposits are FDIC Insured | 5.0/5 | $0 | 1.50% With $0 min. balance for APY | $300 Requirements to qualify | Learn more at Bluevine, Deposits are FDIC Insured |
24/7 customer support American Express® Business Checking Learn more at American Express National Bank, Member FDIC | 5.0/5 | $0 | 1.30% With $0 min. balance for APY | 30,000 points Requirements to qualify | Learn more at American Express National Bank, Member FDIC |
1% cash back on debit card purchases Grasshopper Innovator Business Checking Account Learn more at Grasshopper Bank, Member FDIC | 4.8/5 | $0 | 1.80% With $25,000 min. balance for APY | $300 Requirements to qualify | Learn more at Grasshopper Bank, Member FDIC |
Brick-and-mortar banking U.S. Bank Silver Business Checking Learn more at U.S. Bank, Member FDIC | 4.1/5 | $0 | N/A | $500 Requirements to qualify | Learn more at U.S. Bank, Member FDIC |
Midsize businesses Relay Business Checking Learn more at Relay, Deposits are FDIC Insured | 4.8/5 | $0 | N/A | N/A | Learn more at Relay, Deposits are FDIC Insured |
ATM fee refunds, cash deposits Axos Bank® Basic Business Checking Learn more at Axos Bank®, Member FDIC | 4.7/5 | $0 | N/A | $400 Requirements to qualify | Learn more at Axos Bank®, Member FDIC |
Simple online banking nbkc Business Account Learn more at nbkc bank, Member FDIC | 4.6/5 | $0 | N/A | N/A | Learn more at nbkc bank, Member FDIC |
Self-employed workers Found Small Business Banking Learn more at Found, Deposits are FDIC Insured | 4.4/5 | $0 | N/A | $125 Requirements to qualify | Learn more at Found, Deposits are FDIC Insured |
Venture-backed startups Mercury Business Bank Account Learn more at Mercury, Deposits are FDIC Insured | 4.6/5 | $0 | N/A | $300 Requirements to qualify | Learn more at Mercury, Deposits are FDIC Insured |
Digital freelancers Novo Business Checking Learn more at Novo, Deposits are FDIC Insured | 4.2/5 | $0 | N/A | N/A | Learn more at Novo, Deposits are FDIC Insured |
Early access to payments Lili Basic Business Checking Learn more at Lili, Deposits are FDIC Insured | 4.1/5 | $0 | N/A | N/A | Learn more at Lili, Deposits are FDIC Insured |
High APY North One Standard Business Checking Learn more at North One, Deposits are FDIC Insured | 4.7/5 | $0 | 2.50% With $0 min. balance for APY | $20 Requirements to qualify | Learn more at North One, Deposits are FDIC Insured |
Military-affiliated entrepreneurs Navy Federal Credit Union Business Checking | 4.2/5 | $0 | 0.01% With $0 min. balance for APY | N/A |
I'M INTERESTED IN:
Our pick for
Online business banking
Bluevine Business Checking
Read Review
Learn more
at Bluevine, Deposits are FDIC Insured
APY
1.50%
With $0 min. balance for APY
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
Fees vary by location.
Overdraft fees
$0
Bonus
$300
Requirements to qualify
Bluevine Business Checking offers pretty much everything we look for in a free business checking account: A competitive APY (
1.50%
on account balances up to and including $250,000; terms apply), unlimited fee-free transactions, free access to an ATM network, the ability to deposit cash (albeit for a fee) and checks. You’ll also get access to useful software tools, like accounts payable services and sub-accounts, to help you manage expenses. What it lacks: Branches. Bluevine is a financial technology company; it partners with FDIC-insured Coastal Community Bank to provide banking services.
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Earn 1.50% interest on account balances up to and including $250,000. Terms apply.
- Access up to $3 million in FDIC insurance with Insured Cash Sweep.
- No fees at MoneyPass ATMs.
- Account holders are assigned to a dedicated banker or customer support representative.
Cons
- No fee-free cash deposits.
- Fee for using out-of-network ATMs.
- Does not offer jointly-owned accounts.
Our pick for
24/7 customer support
American Express® Business Checking
Read Review
Learn more
at American Express National Bank, Member FDIC
APY
1.30%
With $0 min. balance for APY
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
No cash deposits.
Overdraft fees
N/A
Bonus
30,000 points
Requirements to qualify
The American Express Business Checking account ticks a lot of boxes for businesses seeking online banking, especially thanks to its 24/7 customer support via phone or the bank’s mobile app — customer support is often a top complaint among business owners using online accounts. AmEx’s account also offers a competitive APY (
1.30%
on balances up to $500,000) and fee-free access to more than 70,000 MoneyPass and Allpoint ATMs. The key drawback: American Express Business Checking does not accept cash deposits.
Pros
- No monthly fees or minimum opening deposit.
- No excess transaction fees and no charge for domestic incoming wires.
- Earn 1.30% APY on balances up to $500,000.
- 24/7 customer support.
- No fees on withdrawals at more than 70,000 MoneyPass and Allpoint ATMs in the U.S.
Cons
- Can’t deposit cash.
- No outgoing international wire transfers.
- Does not offer jointly owned accounts.
- Only one debit card per account.
Our pick for
1% cash back on debit card purchases
Grasshopper Innovator Business Checking Account
Read Review
Learn more
at Grasshopper Bank, Member FDIC
APY
1.80%
With $25,000 min. balance for APY
Monthly fee
$0
Min. opening deposit
$100
Free cash deposits
No
No cash deposits.
Overdraft fees
$0
Bonus
$300
Requirements to qualify
Grasshopper bank’s free business checking account includes two features rarely offered in tandem on business checking accounts: unlimited 1% cash back on qualified debit card purchases and up to
1.80%
APY. Plus, the account includes unlimited transactions, free incoming wires and fee-free access to an ATM network.Grasshopper business customers get free, built-in access to Autobooks, as well as business tools like invoicing and cash management. That helps make it one of our best banks for startups.
Like some other online-only accounts, however, Grasshopper business checking accounts do not support cash deposits.
Pros
- Unlimited 1% cash back on qualified debit card purchases.
- Earn up to 1.80% APY.
- No monthly fees, transaction fees or overdraft charges.
- Free, built-in bookkeeping and invoicing software.
- Free incoming domestic wires; low fees on other wire transfers.
Cons
- Can’t deposit cash.
- $100 minimum opening deposit.
- No weekend support.
Our pick for
Brick-and-mortar banking
U.S. Bank Silver Business Checking
Read Review
Learn more
at U.S. Bank, Member FDIC
APY
N/A
Monthly fee
$0
Min. opening deposit
$100
Free cash deposits
Yes
Up to $2,500 per month.
Overdraft fees
$36
Bonus
$500
Requirements to qualify
It's unusual to find a free business checking account from a big brick-and-mortar bank, but that's what U.S. Bank offers with its Silver Business Checking account. Silver Business Checking includes 125 free transactions and up to $2,500 in fee-free cash deposits per statement cycle. You can open an account online or in person — U.S. Bank has more than 2,000 branches across 26 states. There's also a substantial welcome bonus for new customers (terms apply).
While the account does not have a monthly service fee, U.S. Bank does still charge for overdrafts, excess transactions and wire transfers.
Pros
- No monthly service fee for Silver Business Checking account.
- Welcome bonus for new customers (terms apply).
- No fees at U.S. Bank and MoneyPass ATMs.
- Supports Zelle for Business.
- Unlimited debit cards.
- Account holders are assigned to a dedicated banker or customer support representative.
Cons
- Low limit on fee-free cash deposits compared to other brick-and-mortar banks.
- Limit of 125 fee-free transactions per month.
- $1 fee for outgoing domestic ACH transfers.
Our pick for
Midsize businesses
Relay Business Checking
Read Review
Learn more
at Relay, Deposits are FDIC Insured
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
Yes
Unlimited
Overdraft fees
$0
Bonus
N/A
Relay’s free online business checking account comes with several features that benefit midsize businesses and growing startups, including the option to open multiple accounts (up to 20; 10 for sole proprietorships) and ability to invite team members, assign roles and permissions, and set spending limits.
Relay has no monthly fees, includes unlimited fee-free transactions and free incoming wires, and allows for direct integrations with QuickBooks Online and Xero.
One downside: Deposited checks may have long hold times — potentially six to seven business days.
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Cash deposits via compatible Allpoint ATMs.
- No foreign transaction fees when you use your Relay Visa® Debit abroad.
- Free incoming wires and low outgoing wire transfer fees.
- Up to 50 debit cards.
- Account holders are assigned to a dedicated banker or customer support representative.
- Direct integration with Shopify.
Cons
- Deposited checks are held for up to 6-7 business days.
- No bill pay feature in the free plan.
Our pick for
ATM fee refunds, cash deposits
Axos Bank® Basic Business Checking
Read Review
Learn more
at Axos Bank®, Member FDIC
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
Yes
Unlimited
Overdraft fees
$25
Bonus
$400
Requirements to qualify
Axos Bank’s Basic Business Checking offers unlimited transactions, plus cash deposits via Allpoint+ ATMs. The bank also offers free nationwide ATM access with unlimited refunds for fees charged by other banks and ATM operators in the U.S.
Unlike some online business checking accounts, whose banking services are provided and insured by other financial institutions, Axos Bank is a Federal Deposit Insurance Corp.-insured institution and provides all of its business banking products and services directly.
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions and free incoming wires.
- Automatic refunds of all ATM fees (domestic).
- Cash deposits via Allpoint ATMs.
- Welcome bonus for new customers (terms apply).
Cons
- $25 fee for insufficient funds/uncollected funds returned.
- No third-party app integrations.
- Relatively low mobile app ratings.
Our pick for
Simple online banking
nbkc Business Account
Read Review
Learn more
at nbkc bank, Member FDIC
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
Yes
Unlimited
Overdraft fees
$0
Bonus
N/A
NBKC’s Business Account is a free business checking account with very few fees, but few bells and whistles. This account includes unlimited transactions, fee-free ATM access through the MoneyPass and Allpoint networks (with the ability to deposit cash) and up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
Additionally, there are no incoming domestic wire fees, overdraft, stop payment or other similar incidental fees with the NBKC business checking account. Outgoing domestic wires cost just $5.
If you want add-on software, you can subscribe to Autobooks via NBKC for $10 per month. That service offers invoicing with payment links, tap-to-pay acceptance and basic accounting reports.
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions, no overdraft fees and free incoming domestic wires.
- Up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
- Unlimited cash deposits via MoneyPass and Allpoint ATMs.
- Accept contactless payments via the NBKC app (iOS only). Fees apply.
- Unlimited debit cards.
Cons
- High fee ($45) for international wire transfers.
- Phone support only available during business hours.
- No third-party app integrations.
Our pick for
Self-employed workers
Found Small Business Banking
Read Review
Learn more
at Found, Deposits are FDIC Insured
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
$2 fee per deposit
Overdraft fees
$0
Bonus
$125
Requirements to qualify
The Found business account offers more than just free business checking. You'll also get built-in invoicing, bookkeeping and tax-planning tools, so you can generate profit and loss reports, automatically save for business taxes and schedule recurring invoices. Found integrates with popular business and gig work apps, like Stripe, Square, Uber, PayPal and Lyft, and you can use the platform to pay contractors working in your business.
Make sure to review Found's deposit and transfer limits before applying, as these can be low compared with competitors. Found is also not available to businesses organized as partnerships.
Pros
- No required monthly fee or minimum opening deposit.
- No excess transaction fees or overdraft fees; free incoming domestic wires.
- Free, built-in invoicing, bookkeeping and tax-planning features.
- Integrates with popular business and gig work apps, including Stripe, DoorDash, Uber, Etsy and PayPal.
- Account holders are assigned to a dedicated banker or customer support representative.
- Built-in payroll features for contractors.
Cons
- No weekend or after-hours phone support.
- Not available to partnerships or nonprofit organizations.
- No fee-free cash deposits.
Our pick for
Venture-backed startups
Mercury Business Bank Account
Read Review
Learn more
at Mercury, Deposits are FDIC Insured
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
No cash deposits.
Overdraft fees
$0
Bonus
$300
Requirements to qualify
Mercury is a free online banking platform that’s designed for startups. Mercury includes a free business checking account along with a business savings account and the option to open a treasury account to earn a yield on excess cash (its savings account doesn’t earn interest). Mercury also has no wire transfer fees and does not charge to send or receive checks.
The platform offers built-in digital tools that allow you to track and manage your payments and expenses, create virtual debit cards and corporate credit cards and manage employee spending.
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Free domestic and international wire transfers.
- Advanced digital tools including API access to automate and customize your banking.
- Unlimited refunds on all domestic ATM fees.
Cons
- Can’t deposit cash.
- Mercury is not part of a fee-free ATM network.
Our pick for
Digital freelancers
Novo Business Checking
Read Review
Learn more
at Novo, Deposits are FDIC Insured
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
No cash deposits.
Overdraft fees
$0
Bonus
N/A
The Novo business checking account offers unlimited built-in invoicing, no ACH transfer fees and no incoming wire fees. It refunds all ATM fees worldwide, so you can withdraw cash for free, but it doesn’t support cash deposits at all. That makes Novo best suited to businesses that never take payments in cash.
In addition, Novo offers integrations with digital tools like QuickBooks, Xero, Stripe and Shopify.
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions and free incoming wires.
- Refunds on all ATM fees worldwide.
- Direct integrations with Etsy, eBay, Amazon and WooCommerce.
- Built-in invoicing.
Cons
- Can’t deposit cash.
- Can’t send domestic or international wires.
- No customer support by phone.
- No bill pay feature.
- Does not offer jointly owned accounts.
- No spend controls on employee debit cards.
Our pick for
Early access to payments
Lili Basic Business Checking
Read Review
Learn more
at Lili, Deposits are FDIC Insured
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
Fee of up to $4.95 per cash deposit.
Overdraft fees
$0
Bonus
N/A
Lili Basic’s early payment feature is a draw for freelancers and independent contractors. If you do business via Uber, Lyft or Shopify, you can connect your account with Lili to receive funds up to two days faster. The account also has an automatic saving feature to help build your emergency fund.
If you upgrade to one of Lili's paid plans, which start at $9 per month, you'll get access to tools that can help with tax planning, invoicing, expense reports and more.
Pros
- No monthly fees, transaction fees or incoming wire fees.
- No fees at MoneyPass ATMs.
- Cash deposits via Green Dot network (fees and limits apply).
- Early payment feature allows you to receive funds up to two days sooner than with a traditional bank account.
- Direct integrations with Square, Shopify, Etsy and eBay.
Cons
- Fee for using out-of-network ATMs.
- No fee-free cash deposits.
- Low monthly limits for cash deposits, incoming ACH transfers.
- Bill pay not included; must upgrade to Lili Smart or higher.
- Not available to nonprofit organizations.
- No spend controls on employee debit cards.
Our pick for
High APY
North One Standard Business Checking
Read Review
Learn more
at North One, Deposits are FDIC Insured
APY
2.50%
With $0 min. balance for APY
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
NorthOne does not accept cash deposits
Overdraft fees
$5
Bonus
$20
Requirements to qualify
North One's free online business checking account offers an industry-leading
2.50%
APY on all balances. This account is a particularly good choice for e-commerce businesses, since it supports same-day deposits from Amazon, Cash App, Square, Stripe and Venmo and direct payments from a variety of other business platforms, including Etsy, Lyft, Shopify and Airbnb. That can help you get funds into your account — so they can start earning interest — faster.
Key drawbacks: No cash deposits or fee-free ATM network. International wires aren't supported, either.
Pros
- No monthly fees or excess transaction fees.
- Same-day deposits from Amazon, Cash App, Square, Stripe and Venmo. Direct payments supported from a variety of other business platforms, including Etsy, Lyft, Shopify and Airbnb.
- Sub-accounts that you can use to save for specific goals.
- Direct integration with Shopify, Etsy and Amazon.
- Account holders are assigned to a dedicated banker or customer support representative.
Cons
- Low cash deposit limits ($1,500 per day, $5,000 per month). Service fee of up to $4.95 per deposit.
- No free ATM network, though North One will reimburse up to two ATM fees per month by request. ATM withdrawals limited to $2,000 per day.
- Can’t send or receive international wires.
- No weekend customer support.
- Not available to nonprofit organizations.
- No spend controls on employee debit cards.
Our pick for
Military-affiliated entrepreneurs
💬 From our Nerds: Why so many of these accounts are from online banks
"Because online banks and neobanks don't have to operate branches, they have lower overhead than traditional brick-and-mortar banks do.
"As a result, they typically don't charge monthly fees for business checking accounts. Neobanks generally have lower fees on services like wire transfers, too. Some even pay interest or cash back on debit card purchases.
"Brick-and-mortar banks tend to charge monthly fees, even for their entry-level accounts. In exchange, of course, you get access to branches. And banks do generally offer to waive those monthly fees if you maintain a certain average balance or transact often enough. But if you want no monthly fee at all, most of your best options are online business accounts."
— Rosalie Murphy, lead writer covering small business
The cost of a business account varies by bank and account type. The most common fee is for monthly maintenance, which usually starts around $10. Most banks will waive this charge if you maintain a specific average monthly balance or meet other qualifications.
🏦 Compare NerdWallet's best banks for small businesses
Here’s how this works for some well-known business checking accounts:
Account | Monthly fee | How the fee can be waived |
|---|---|---|
$ 16 . (No fee for the first 12 months.) | Maintain a $5,000 combined average monthly balance, spend $500 in net-new purchases on a BofA business debit card or become a member of the bank’s Preferred Rewards for Business program. | |
$ 10 . | Maintain an average balance of at least $100. | |
$ 15 . | Maintain a minimum daily balance of $2,000, accept $2,000 per month via Chase QuickAccept transactions, make $2,000 in eligible purchases from a Chase Ink business credit card or meet Chase Military Banking requirements. | |
$ 15 . | Maintain an average collected balance of at least $5,000. | |
$ 12 . | Maintain an average monthly balance of $500, accept at least $500 monthly via linked merchant services or spend at least $500 monthly with a linked PNC credit card. | |
$ 10 . | Be an eligible nonprofit. | |
$ 10 . | Maintain a daily balance of at least $500 or average ledger balance of at least $1,000. |
While free business checking accounts skip the monthly maintenance fee, you'll still probably run into other charges. Review your depositor agreement to understand all the potential costs, but here are some common fees to be aware of when choosing a business account:
Overdraft fees kick in if you try to spend more money than you have in your account. They usually cost between $30 and $35 per overdraft, though some banks allow you a grace period of up to 24 hours or up to around $50 before you're charged. Huntington and Chase, for instance, offer both.
Some online-only neobanks don’t allow overdrafts at all. If you don't have sufficient funds, your purchase won't go through — but you won't be charged a fee either.
Most banks allow you to make at least 100 transactions (either electronic, in-person or both) each month. Transaction fees tend to be pretty small — generally around 50 cents apiece — but they can add up over time. Unlimited fee-free transactions are ideal; American Express and Relay both offer this.
Nearly all business banks provide fee-free access to ATMs affiliated with the bank or with an ATM network, like MoneyPass. Need to use an out-of-network ATM? That ATM's provider will most likely charge you a fee. Your bank may or may not charge another one.
The best-case scenario: Your bank refunds out-of-network ATM fees, allowing you to withdraw cash virtually anywhere for free. Axos and LendingClub both offer this perk.
Many banks limit how much cash you can deposit per day or per month for free. After you reach that limit — which is often around $5,000 per month — your bank may charge a small volume-based fee, such as 10 cents for every $100 over the limit. Some banks also charge transaction fees for each deposit.
If cash is an important part of your business, look for a bank that offers unlimited fee-free cash deposits like NBKC.
Wire transfer fees are common. Most banks charge fees for both sending and receiving wires, and fees tend to be higher for international wire transfers. Free wires are a rare perk — so if they're a top priority for your business, prioritize them in your search. For example, Mercury offers free domestic and international wire transfers.
If you want to keep your business local and prefer a smaller bank, choose your state to find free business checking accounts in your area:
Finding a small-business checking account with no monthly fees is a great start, but you also want to factor in things like account limits or transaction caps that could cost your business money.
- Understand your business's needs. Every business operates differently. Some make regular cash deposits, while others deal solely with electronic transactions. Some need built-in bookkeeping and invoicing, while others need their bank account to integrate with the tools they already use. The unique needs of your small business will determine your priority features in a business checking account.
- Look at upfront costs. You can open most free business accounts with no deposit, but a handful require at least $100 up front to open your account.
- Consider cash deposits. There's a lot of overlap between free and online business checking accounts. Online-only banks often have limits on how much cash you can deposit at once, or charge fees for doing so. Some don't support cash deposits at all. If your business deals with cash, make sure to choose an account without those restrictions.
- Be aware of incidental fees and transaction limits. Pay close attention to the fine print. Some free business checking accounts charge for out-of-network ATM use, cash deposits, wire transfers and overdrafts. Some also limit the number of transactions you can make each month for free. See NerdWallet's picks for the best business bank accounts to compare cash deposits, branch access and other features, and see below for more details about these fees.
- Factor in additional perks and features. Some business checking accounts earn interest or offer cash back when you use your business debit card. A few offer both. And many offer additional features, like bookkeeping software, tax-planning tools and free invoicing. Weigh these perks and benefits when choosing an account.
🤓 Nerdy Tip
Want to earn more interest on your company’s cash? Consider a business savings account in addition to your business checking account. These accounts are also often free and can pay APYs as high as 4% or more. You can easily open one online, too.Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC.
Note on
American Express® Business Checking
: At Allpoint® and MoneyPass® locations in the U.S., you can withdraw cash and get balance information with no fee. Access to ATMs outside of the Allpoint® and MoneyPass® networks are subject to fees by the ATM owner and/or network. ATM withdrawal limits apply. American Express applies foreign exchange fees to withdrawals in foreign currencies. American Express does not accept ATM cash deposits into your Business Checking account at this time. Visit americanexpress.com/atm-locator to find participating ATMs in the U.S.Last updated on February 4, 2025
Methodology
NerdWallet evaluates more than 30 business bank accounts from national, regional and online banks. Collectively, these accounts represent the largest banks by assets, internet search traffic and other factors, along with notable or emerging players in the industry.
We consider more than 20 data points for each account, scoring them on fees, perks and accessibility, among other factors. This information is gathered from each financial institution's website and company representatives. In addition, data is collected regularly and reviewed by our editorial team for consistency and accuracy.
Final star ratings are presented on a scale of one to five stars, where a one-star score represents "poor" and a five-star score represents "excellent." Learn more about how we rate business checking accounts.
Frequently Asked Questions
Most online banks and business accounts offer free business checking, including Relay, NBKC, Axos and American Express. Free small-business checking accounts are available from local, national and regional banks, too, including:
- U.S. Bank: Silver Business Checking Package.
- Huntington Bank: Business Checking 100.
- Truist: Simple Business Checking.
- Citizens Bank: Clearly Better Business Checking.
- First Citizens Bank: Business Banking.
Scroll up for a state-by-state breakdown of banks that offer free business checking accounts.
Most online business checking accounts can be opened online with no deposit. A few examples include BlueVine Business Checking, Axos Basic Business Checking, the NBKC Business Account and Huntington Business Checking 100. Each of these business checking accounts has no monthly fees and no minimum deposit requirements, and they can all be opened online.
Although it’s less common, you may also find some regional and local banks that allow you to sign up for a free business checking account online with no minimum opening deposit.