🏆 Our pick: The best online business account
American Express® Business Checking
1.30%
at American Express National Bank, Member FDIC
Best Business Bank Accounts to Open Online
| Best for | NerdWallet rating▼ | Monthly fee▼ | APY▼ | Bonus▼ | Learn more |
|---|---|---|---|---|---|
High-yield business checking Bluevine Business Checking Learn more at Bluevine, Deposits are FDIC Insured | 4.7/5 | $0 | 1.50% With $0 min. balance for APY | $300 Requirements to qualify | Learn more at Bluevine, Deposits are FDIC Insured |
Overall online business bank account 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 | N/A | Learn more at American Express National Bank, Member FDIC |
Cash back + high APY Grasshopper Business Checking Account Learn more at Grasshopper Bank, Member FDIC | 4.5/5 | $0 | 1.80% With $25,000 min. balance for APY | N/A | Learn more at Grasshopper Bank, Member FDIC |
Sign-up bonus U.S. Bank Silver Business Checking Learn more at U.S. Bank, Member FDIC | 4.2/5 | $0 | N/A | $400 Requirements to qualify | Learn more at U.S. Bank, Member FDIC |
Branch access Chase Business Complete Banking® Learn more at Chase, Member FDIC | 4.5/5 | $15.00 Waived with $2,000 minimum balance | N/A | $300 Requirements to qualify | Learn more at Chase, Member FDIC |
Multiple accounts Relay Business Checking Learn more at Relay, Deposits are FDIC Insured | 4.9/5 | $0 | N/A | $200 Requirements to qualify | Learn more at Relay, Deposits are FDIC Insured |
Cash deposits Bank of America® Business Advantage Fundamentals™ Banking Learn more at Bank of America, N.A., Member FDIC | 4.5/5 | $16.00 $0 for the first 12 statement cycles. | N/A | $200 Requirements to qualify | Learn more at Bank of America, N.A., Member FDIC |
Accepting in-person payments nbkc Business Account Learn more at nbkc bank, Member FDIC | 4.9/5 | $0 | N/A | N/A | Learn more at nbkc bank, Member FDIC |
Business savings account Live Oak Bank Business Savings Learn more at Live Oak Bank, Member FDIC | 5.0/5 | $0 | 3.80% With $0.01 min. balance for APY | $400 Requirements to qualify | Learn more at Live Oak Bank, Member FDIC |
Freelancers and 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 |
Free wire transfers Mercury Business Bank Account Learn more at Mercury, Deposits are FDIC Insured | 4.1/5 | $0 | N/A | N/A | Learn more at Mercury, Deposits are FDIC Insured |
Built-in invoicing Novo Business Checking Learn more at Novo, Deposits are FDIC Insured | 4.4/5 | $0 | N/A | $300 Requirements to qualify | Learn more at Novo, Deposits are FDIC Insured |
Unlimited refunds on ATM fees LendingClub Tailored Checking | 4.9/5 | $10.00 Waived with $500 minimum balance | 1.50% With $0 min. balance for APY | N/A | |
| Best for | NerdWallet rating▼ | Monthly fee▼ | APY▼ | Bonus▼ | Learn more |
|---|---|---|---|---|---|
High-yield business checking Bluevine Business Checking Learn more at Bluevine, Deposits are FDIC Insured | 4.7/5 | $0 | 1.50% With $0 min. balance for APY | $300 Requirements to qualify | Learn more at Bluevine, Deposits are FDIC Insured |
Overall online business bank account 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 | N/A | Learn more at American Express National Bank, Member FDIC |
Cash back + high APY Grasshopper Business Checking Account Learn more at Grasshopper Bank, Member FDIC | 4.5/5 | $0 | 1.80% With $25,000 min. balance for APY | N/A | Learn more at Grasshopper Bank, Member FDIC |
Sign-up bonus U.S. Bank Silver Business Checking Learn more at U.S. Bank, Member FDIC | 4.2/5 | $0 | N/A | $400 Requirements to qualify | Learn more at U.S. Bank, Member FDIC |
Branch access Chase Business Complete Banking® Learn more at Chase, Member FDIC | 4.5/5 | $15.00 Waived with $2,000 minimum balance | N/A | $300 Requirements to qualify | Learn more at Chase, Member FDIC |
Multiple accounts Relay Business Checking Learn more at Relay, Deposits are FDIC Insured | 4.9/5 | $0 | N/A | $200 Requirements to qualify | Learn more at Relay, Deposits are FDIC Insured |
Cash deposits Bank of America® Business Advantage Fundamentals™ Banking Learn more at Bank of America, N.A., Member FDIC | 4.5/5 | $16.00 $0 for the first 12 statement cycles. | N/A | $200 Requirements to qualify | Learn more at Bank of America, N.A., Member FDIC |
Accepting in-person payments nbkc Business Account Learn more at nbkc bank, Member FDIC | 4.9/5 | $0 | N/A | N/A | Learn more at nbkc bank, Member FDIC |
Business savings account Live Oak Bank Business Savings Learn more at Live Oak Bank, Member FDIC | 5.0/5 | $0 | 3.80% With $0.01 min. balance for APY | $400 Requirements to qualify | Learn more at Live Oak Bank, Member FDIC |
Freelancers and 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 |
Free wire transfers Mercury Business Bank Account Learn more at Mercury, Deposits are FDIC Insured | 4.1/5 | $0 | N/A | N/A | Learn more at Mercury, Deposits are FDIC Insured |
Built-in invoicing Novo Business Checking Learn more at Novo, Deposits are FDIC Insured | 4.4/5 | $0 | N/A | $300 Requirements to qualify | Learn more at Novo, Deposits are FDIC Insured |
Unlimited refunds on ATM fees LendingClub Tailored Checking | 4.9/5 | $10.00 Waived with $500 minimum balance | 1.50% With $0 min. balance for APY | N/A |
I'M INTERESTED IN:
Our pick for
High-yield business checking
Bluevine Business Checking
at Bluevine, Deposits are FDIC Insured
With $0 min. balance for APY
Fees vary by location.
Requirements to qualify
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.
- Free incoming wires and low outgoing wire transfer fees.
Cons
- Fee for cash deposits.
- Fee for using out-of-network ATMs.
- Does not offer jointly-owned accounts.
Our pick for
Overall online business bank account
American Express® Business Checking
at American Express National Bank, Member FDIC
With $0 min. balance for APY
No 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.
Our pick for
Cash back + high APY
Grasshopper Business Checking Account
at Grasshopper Bank, Member FDIC
With $25,000 min. balance for APY
No cash deposits.
Pros
- Unlimited 1% cash back on qualified debit card purchases.
- Earn up to 1.80% APY.
- No monthly fees or overdraft charges.
- Free, built-in bookkeeping software.
Cons
- Can’t deposit cash.
- $100 minimum opening deposit.
- No weekend support.
Our pick for
Sign-up bonus
U.S. Bank Silver Business Checking
at U.S. Bank, Member FDIC
Up to $2,500 per month.
Requirements to qualify
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.
Cons
- Low cash deposit limits.
- Limit of 125 fee-free transactions per month.
- $1 fee for outgoing domestic ACH transfers.
Our pick for
Branch access
Chase Business Complete Banking®
at Chase, Member FDIC
Waived with $2,000 minimum balance
Up to $5,000 per month.
Requirements to qualify
Pros
- No minimum opening deposit.
- Unlimited fee-free electronic transactions.
- Integrated credit card processing.
- No overdraft fee unless account is overdrawn by more than $50; 24-hour grace period applies to overdrafts beyond that amount.
- 24/7 customer support.
- No fees at 16,000 Chase ATMs and access to around 4,700 branches.
Cons
- $15 monthly fee.
- Monthly limit on fee-free cash deposits ($5,000) and physical transactions (20).
- Fee for using out-of-network ATMs.
Our pick for
Multiple accounts
Relay Business Checking
at Relay, Deposits are FDIC Insured
Unlimited
Requirements to qualify
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Cash deposits via compatible AllPoint ATMs.
- Automatic transfers to high-yield business savings earning up to 3.00% APY.
- No foreign transaction fees when you use your Relay Visa® Debit abroad.
- Free incoming wires and low outgoing wire transfer fees.
Cons
- Deposited checks are held for up to 6-7 business days.
- No bill pay feature in the free plan.
Our pick for
Cash deposits
Bank of America® Business Advantage Fundamentals™ Banking
at Bank of America, N.A., Member FDIC
$0 for the first 12 statement cycles.
Up to $7,500 per statement cycle.
Requirements to qualify
Pros
- No monthly fee for the first 12 statement cycles.
- High cash deposit limits.
- Welcome offer for new accountholders.
- Loyalty perks via Preferred Rewards for Business program.
Cons
- $100 minimum opening deposit.
- Fee for using out-of-network ATMs.
Our pick for
Accepting in-person payments
nbkc Business Account
at nbkc bank, Member FDIC
Unlimited
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.
Cons
- High fee ($45) for international wire transfers.
- Phone support only available during business hours.
- No third-party app integrations.
Our pick for
Business savings account
Live Oak Bank Business Savings
at Live Oak Bank, Member FDIC
With $0.01 min. balance for APY
No cash deposits
Requirements to qualify
Pros
- Industry-leading APY.
- No minimum balance to earn interest.
- No monthly fee or minimum deposit.
- Access up to $10 million in FDIC insurance with Insured Cash Sweep.
Cons
- No ATM or debit card access.
- No weekend customer support.
Our pick for
Freelancers and self-employed workers
Found Small Business Banking
at Found, Deposits are FDIC Insured
$2 fee per deposit
Requirements to qualify
Pros
- No monthly fees 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 apps, including Stripe, Etsy and PayPal.
Cons
- No weekend or after-hours phone support.
- Only available to single-owner businesses.
- Low check and cash deposit limits; fee for cash deposits.
Our pick for
Free wire transfers
Mercury Business Bank Account
at Mercury, Deposits are FDIC Insured
No cash deposits.
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.
Cons
- Can’t deposit cash.
- Mercury is not part of a fee-free ATM network.
Our pick for
Built-in invoicing
Novo Business Checking
at Novo, Deposits are FDIC Insured
No cash deposits.
Requirements to qualify
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions and free incoming wires.
- Refunds on all ATM fees worldwide.
- Integrates with top business tools, including Xero, Stripe and Shopify.
Cons
- Can’t deposit cash.
- Can’t send domestic or international wires.
- No recurring payments available with bill pay.
- No customer support by phone.
- No bill pay feature.
Our pick for
Unlimited refunds on ATM fees
LendingClub Tailored Checking
With $0 min. balance for APY
Waived with $500 minimum balance
Unlimited
Pros
- Unlimited fee-free transactions; no overdraft fees.
- Earn 1.50% APY on balances up to $100,000 and 0.10% on all balances after that.
- Fee-free ATM access with automatic refund of third-party ATM fees (worldwide).
- Cash deposits via MoneyPass and SUM ATMs.
- Earn unlimited 1% cash back on debit card purchases.
Cons
- $10 monthly fee.
- $100 minimum opening deposit requirement.
- Minimum $500 balance required to earn cash-back rewards and waive monthly fee.
- Limits of $10,000 on both incoming and outgoing ACH transfers.
Can you open a business bank account online?
- American Express.
- Axos Bank.
- Bank of America.
- Blue Federal Credit Union.
- Bluevine.
- BMO Harris.
- Brex.
- Chase.
- Found.
- Grasshopper.
- Huntington Bank.
- LendingClub.
- Lili.
- Live Oak.
- Mercury.
- NBKC.
- NorthOne.
- Novo.
- PNC.
- QuickBooks Money.
- TD Bank.
- Truist.
- Wells Fargo.
Online banks
Neobanks
💬 From our Nerds: A note about neobanks
- Bluevine.
- Found.
- Lili.
- Mercury.
- Novo.
- Relay.
Brick-and-mortar banks
How to choose an online business bank account
- Understand if it's a digital bank or neobank. One is not better or worse than the other by default. But a neobank will have more moving parts since it relies on a partner bank. Verify that partner using the FDIC’s BankFind tool to ensure legitimacy. (NerdWallet does not recommend any neobanks without FDIC-insured banking partners.)
- Research the bank's reputation. NerdWallet’s review is a great place to start. You can also read customer reviews on sites like TrustPilot. Pay close attention to feedback about issues that required customer service resolution, like account freezes.
- Check out app store reviews, too. If you plan to rely on online banking tools, you'll want to make sure they offer a solid experience. You likely won't be able to take those tools for a complete test drive without opening an account, so app store listings, ratings and reviews will offer you the next best thing. This information can help you understand how often a mobile app is being updated, if it has features you want and what other customers think of the service.
Online business banking services
- Expense management tools that handle tasks like bill payment and employee reimbursements.
- Invoicing features that let you manage payable and receivable accounts.
- Integrations that combine bank account information with other business tools, like accounting software.
- Virtual debit cards that you can issue to employees.
- Zelle for business or other built-in software for accepting customer payments.
- Sub-accounts for setting money aside for different purposes, like payroll, or long-term goals (some of these may transfer funds to an interest-bearing account as well).
How to open a business checking account online
- Provide basic information about yourself and any additional business owners.
- Include personal identification, such as a driver’s license or Social Security number.
- Provide essential details about your business, like your tax ID number.
- Upload legal business documentation, which will vary based on your entity type.
🤓 Nerdy Tip
When you fund your new business account online, avoid depositing all of your assets at once. Most business accounts place a longer hold on deposits for new accounts, and you could lose access to those funds for 7 to 10 business days. Other accounts will flag large deposits, followed by large transactions, for fraud.