Best Business Bank Accounts for LLCs of July 2024

Pros

• No monthly fees or minimum opening deposit.
• Unlimited fee-free transactions; no overdraft fees.
• Earn 2.00% 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.
• No joint accounts.

Pros

• No monthly fees or minimum opening deposit.
• No excess transaction fees and no charge for incoming wires.
• Earn 1.30% APY on balances up to $500,000.
• 24/7 customer support.
• No fees at more than 70,000 MoneyPass and Allpoint ATMs in the U.S.

Cons

• Can’t deposit cash.
• No outgoing international wire transfers.

Pros

• Unlimited 1% cash back on qualified debit card purchases.
• Earn up to 2.25% APY.
• No monthly fees or overdraft charges.
• Free, built-in bookkeeping software.

Cons

• Can’t deposit cash.
• $100 minimum opening deposit.
• No weekend support.

Pros

• Fee-free electronic transactions.
• High cash deposit limits.
• Business accounts can be opened entirely online.

Cons

• No free business checking account option.
• $100 minimum opening deposit.
• Fee for using out-of-network ATMs.

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

• Phone support only available during business hours.
• Deposited checks are held for up to 6-7 business days.
• No bill pay feature in the free plan.

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.
• Limit of $5,000 per month in free cash deposits.

Pros

• No monthly service fee for Silver Business Checking account.
• Welcome bonus for new customers (terms apply).
• No fees at 4,700 U.S. Bank ATMs and access to 2,900 branches.
• No fees if account is overdrawn by $50 or less.

Cons

• Low cash deposit limits.
• Terms and fees are not easily accessible via the bank’s website.
• Limit of 125 fee-free transactions per month.
• $1 fee for outgoing domestic ACH transfers.

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.

Cons

• Fee for using out-of-network ATMs.
• Cash deposits limited to $1,000 per day, $9,000 per month. Service fee of up to $4.95 per deposit.
• No checkbooks; can’t send wire transfers.
• Limits of $2,000 per day or $5,000 per month on incoming ACH transfers. No outgoing wire transfers.
• No bill pay feature in the free plan.

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.

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 MoneyPass and AllPoint ATMs.
• 24/7 customer support.
• Welcome bonus for new customers (terms apply).

Cons

• $25 fee for insufficient funds/uncollected funds returned.
• No third-party app integrations.

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.

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.

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.

Pros

• Earns 2.75% APY.
• No minimum balance to earn interest.
• No monthly fee or minimum opening deposit.
• Includes checks and an ATM card.

Cons

• High fee ($45) for international wire transfers.
• No weekend or after-hours customer support.