Item: U.S. Bank Business Essentials
Rating: 4.5

Our Take

4.5

NerdWallet rating

The bottom line:

U.S. Bank is one of the few brick-and-mortar banks to offer free business checking, and they’ve sweetened the pot with a hefty welcome offer. But high wire transfer fees could be a deal-breaker for some businesses.

Full review

Business Essentials

Checking

Member FDIC

Monthly fee

Bonus

$500 Requirements to qualify

Learn more

at U.S. Bank, Member FDIC

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Pros & Cons

Pros

No monthly service fee.
Welcome bonus for new customers (terms apply).
Unlimited fee-free electronic and debit card transactions.
Supports Zelle for Business.
Account holders are assigned to a dedicated banker or customer support representative.
Accept payments with free mobile card reader, no monthly software fee. Processing fees apply.

Cons

$100 minimum opening deposit.
Low limit on fee-free cash deposits.
Fee for using out-of-network ATMs.
High overdraft, wire transfer fees.
$1 fee for outgoing domestic ACH transfers.

Full Review

U.S. Bank debuted a fresh business checking account in April 2025: Business Essentials Checking.

The new account retains some of the best features of its predecessor (Silver Business Banking) — no monthly fee, an outstanding welcome offer and dedicated customer support. And U.S. Bank added mobile payment processing and unlimited, fee-free electronic transactions to make the new plan even more attractive for business owners.

The Business Essentials Checking account still has some shortfalls, though. It's cash deposit limits are low compared with other brick-and-mortar banks. And the bank charges high fees for overdrafts and wire transfers, plus $1 for all outgoing ACH transfers — something most business accounts offer for free.

While this review talks about multiple U.S. Bank business accounts, the star rating above refers to the Business Essentials Checking account only.

🏦 COMPARE: Best bank accounts for LLCs | Best banks for small business

U.S. Bank is best for:

✔️ Generous welcome offer.

✔️ Taking mobile payments.

✔️ Electronic deposits and withdrawals.

Not a fit? Consider these alternatives

Chase Business Complete Banking® Member FDIC	Mercury Business Bank Account Deposits are FDIC Insured	Business Essentials Member FDIC
NerdWallet rating Learn more at Chase	NerdWallet rating Learn more at Mercury	NerdWallet rating Learn more at U.S. Bank
Monthly fee $15.00 Waived with $2,000 minimum balance	Monthly fee $0	Monthly fee $0
APY N/A	APY N/A	APY N/A
Bonus $500 Requirements to qualify	Bonus $300 Requirements to qualify	Bonus $500 Requirements to qualify

Chase Business Complete Banking®

gives cash-wielding businesses a lot more wiggle room on deposits. The account includes up to $5,000 in fee-free cash deposits each month — double what you get with U.S. Bank Business Essentials Checking. It also matches U.S. Bank on other perks, like unlimited electronic transactions, built-in credit card processing and a hefty sign-up bonus.

Mercury Business Bank Account

is a great option if your business relies on wire transfers to make and receive payments. The online business account offers free wire transfers — incoming and outgoing, domestic and international. That makes it a far more affordable option than U.S. Bank, which charges between up to $16 for incoming wires and up to $70 for outgoing.

At a glance: U.S. Bank business checking account details
Benefits and perks
Drawbacks and alternatives
How we evaluated U.S. Bank business checking
How to open a U.S. Bank business checking account
Other business products from U.S. Bank

U.S. Bank business checking at a glance

	Business Essentials	Platinum Business Checking
Monthly fee:	$ 0 .	$30; waived with $25,000 average collected balance.
Minimum opening deposit requirement:	$ 100 .	$100.
APY:	None.	None.
Transactions:	25 in-person transactions and/or paper checks per statement cycle; 50 cents for each additional transaction. Electronic deposits and withdrawals do not count toward the monthly limit.	550 transactions per statement cycle; 40 cents for each additional transaction.
Bonus:	$ 500 . Terms apply.	$900. Terms apply.

Benefits and perks

Free business checking account

U.S. Bank is one of the largest banks in the country. It’s also one of the only big banks to offer a free business checking account. Monthly fees aren’t the only costs to consider, though, so look at all account caps and charges before committing.

Big sign-up bonus

U.S. Bank consistently offers stellar promotions for new customers. Currently, you can earn a welcome bonus of $

500

when you open a new U.S. Bank Business Essentials Checking account, or $900 with a new Platinum Business Checking account using promo code Q1BEP25. Offers valid through

06/30/2025

To qualify, you need to meet balance and transaction requirements.

Deposit $5,000 within 30 days of account opening.
Maintain a balance of at least $5,000 for 60 days after account opening.
Complete five qualifying transactions within 60 days.

Deposit $25,000 within 30 days of account opening.
Maintain a balance of at least $25,000 for 60 days after account opening.
Complete five qualifying transactions within 60 days.

» MORE: Best business bank account promotions

Dedicated business support specialists

U.S. Bank business checking customers get hands-on support courtesy of the bank's dedicated business specialists. Each business account holder is assigned a representative to assist with concerns and questions about products, among other things.

Business specialists are typically available Monday through Friday, 8 a.m. to 8 p.m. CST and 8 a.m. to 6:30 p.m. CST on Saturdays. U.S. Bank also offers live, 24/7 customer support outside of those hours.

It is worth noting that a handful of online posts do complain of long hold times when trying to reach customer support. These comments are primarily from new applicants, not existing customers with a dedicated business support representative.

A U.S. Bank spokesperson said the bank aims to “have 80% of calls answered within 60 seconds.”

Free mobile card reader, no software fees

U.S. Bank's Business Essentials Checking account makes accepting payments on the go a little easier. The account comes with a free mobile card reader and payment processing software.

Accepted payments are processed daily, including on weekends. Funds are typically available in your U.S. Bank business checking account within 24 hours.

Transaction fees do apply when processing payments. U.S. Bank's rates are on par with other payment processing companies like Stripe and Square.

2.6% plus 10 cents for in-person payments.
2.9% plus 30 cents for online payments.
3.5% plus 15 cents for keyed payments.

Drawbacks and alternatives

Low cash deposit limits

Most national and regional brick-and-mortar banks cap fee-free cash deposits to $5,000 per month. U.S. Bank's Business Essentials Checking account allows half that — and they make it complicated.

Business Essentials Checking includes 25 free cash deposit “units” per month. Each unit is equal to $100, but U.S. Bank rounds up or down based on whether a transaction is more or less than 50 cents/$50. For instance, a single cash deposit of less than $150 is counted as one unit. But if that was $150 or more, it would be two units. A single deposit totaling $2,500 equals 25 units.

By comparison,

Chase Business Complete Banking®

allows up to $5,000 in free cash deposits — around 50 units — per month.

Bank of America® Business Advantage Fundamentals™ Banking

TD Business Simple Checking℠

Wells Fargo Initiate Business Checking℠ Account

and

Capital One Business Basic Checking®

also include up to $5,000 in cash deposits.

Make more than $5,000 in cash deposits per month? Check out

CitiBusiness® Streamlined Checking

, which includes up to $10,000 in fee-free cash deposits per month.

Granted, all those accounts each have monthly fees. But it's fairly straightforward to get those fees waived as well.

High overdraft, wire transfer fees

U.S. Bank isn't immune to the "high-fees" stereotype that often plagues brick-and-mortar banks.

Sending a wire transfer within the U.S. will cost between $30 and $40 per wire — that jumps to $70 for international wire transfers. You'll get hit on the receiving end, too. Incoming wire fees range from $14 to $16, depending on where the transfer is coming from. That's higher than its brick-and-mortar competitors and certainly more than you'll pay with an online business checking account, which often have low or no fees for wires.

Mercury Business Bank Account

, for example, does not charge for any wire transfers, ever. And

Relay Business Checking

only charges for outgoing wire transfers: $5 domestic, $10 international. Both accounts have no monthly fee and high-yield savings options.

Overdraft charges are also high. If your U.S. Bank business checking account dips into the red by more than $5, you’ll get hit with a $36 overdraft fee up to three times per day. Want more breathing room? Many online business checking accounts don't allow you to overdraft at all — which eliminates the need for a fee but perhaps some flexibility too.

Fee for all outgoing ACH transfers

While U.S. Bank advertises "unlimited digital transactions," including ACH transfers, the fine print reveals a catch.

Yes, ACH transfers don't count toward your monthly transaction limit, but they do carry their own fees: $1 for each outgoing ACH transfer sent from your Business Essentials Checking account. That's unusual, even for a brick-and-mortar bank, and is likely a deal-breaker for businesses that make regular ACH transfers.

A top-rated online bank account, like

Bluevine Business Checking

American Express® Business Checking

, is a good option if you don't want to worry about excess transactions or ACH fees.

These accounts have other perks, too. Both earn interest and have sign-up bonuses. But the AmEx account doesn't support cash deposits and Bluevine doesn't offer the same level of dedicated support as U.S. Bank.

How we evaluated U.S. Bank business checking

NerdWallet considers more than 20 data points for each business checking account we rate, scoring each on fees, perks and software tools, among other factors (view our complete ratings methodology). We gathered this information from U.S. Bank's website and company representatives.

Accounts are scored from one to five stars overall, as well as on individual areas that are important for business banking. If a bank offers multiple accounts, we rate the entry-level account.

Here's how U.S. Bank's Business Essentials Checking account stacks up:

Transactions: Unlimited electronic. In-person/paper: 25 per month; 50 cents per additional transaction..
Domestic ATM access, fees: No fee at ~4,700 U.S. Bank ATMs; $2.50 per transaction at non-U.S. Bank ATMs.
Cash deposits: Up to $2,500 included per month.
Wire transfers: International and domestic wire transfers available (incoming and outgoing).
Minimum opening deposit: $
100
.
Checks: 50% off first check order up to $50.

Human support phone hours: 24/7 live customer support. Dedicated business service center (855-948-3251) available Monday through Friday, 8 a.m. to 8 p.m. CT and 8 a.m. to 6:30 p.m. CT on Saturdays.
App store rating: 4.70 (weighted average of the Apple and Google Play app stores). Note: Only a handful of app store reviews reference business checking.
Ease of website use: Can easily find account information, including detailed schedule of fees.
Branch access: More than 2,000 branches in 26 states.
Account availability: Nationwide.
Account opening options: Online or in-person.
Live chat support: Available from 8 a.m. to 8 p.m. PST.

Monthly maintenance fee: $
0
.
ATM withdrawal fee: $2.50 per transaction at non-U.S. Bank ATMs. Third-party fees may also apply.
Cash deposit fee: Up to $2,500 per month, then 33 cents per $100. Additional charges for coin deposits.
Wire transfer fees: Incoming: $14-$16 domestic; $16 international. Outgoing: $30-$40 domestic; $75 international.
Overdraft fee: $
36
per item (up to three per day) if account is overdrawn by more than $5.

APY: None.
Sign-up bonus:
Earn a $500 bonus when you open a U.S. Bank Business Essentials Account with promo code Q2AFL25 and complete qualifying activities, subject to certain terms and limitations. Offer valid through June 30, 2025. Member FDIC.

U.S. Bank earned our maximum number of points for software features thanks to the following:

Built-in invoicing.
Unlimited sub-accounts.
Zelle for Business.
Integrated payment processing.

We also look at public forums (like Reddit, myFICO and Quora) and online reviews (via sites like Trustpilot and the App Store/Google Play) to understand business owner sentiment about banking with U.S. Bank. We use AI tools to help gather some of this information for evaluation.

People post anonymously in these spaces, so we cannot confirm their individual experiences or circumstances. This data does not influence our star ratings. However, NerdWallet does contact financial institutions regarding negative feedback that we consistently observe.

How to open a U.S. Bank business checking account

You can open a U.S. Bank business checking account online, over the phone or at one of the bank’s more than 2,000 branch locations. While U.S. Bank has a physical presence in 26 states (see below), accounts are available to businesses nationwide.

Arizona
Arkansas
California
Colorado
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Minnesota
Missouri
Montana
Nebraska
Nevada
New Mexico
North Carolina
North Dakota
Ohio
Oregon
Tennessee
Texas
Utah
Washington
Wisconsin
Wyoming

Business owners may need to provide additional information when applying (in person, when able). Commenters online have noted that this can cause delays in opening your account.

Some have also expressed frustration with customer service during this process. They cite issues like hour-long waits to speak to a human over the phone, as well as needing to work with multiple reps to resolve application problems.

What you need to open a U.S. Bank business account

To open a U.S. Bank business account, you’ll need to provide the following information:

Social Security number, home address and cell phone number.
Name, email and personal phone number for anyone with a 25% or more ownership stake in the company.
Business phone number, physical address and date your business was established.
Business tax ID (EIN, ITIN or SSN), industry designation and formation documents.

All U.S. Bank business accounts require a $100 minimum opening deposit, which can be deposited via ACH or wire transfer, or by check at a branch, ATM or using mobile deposit.

Explore other U.S. Bank business products

Using a single bank for multiple business services can streamline your operations — and help build a relationship with your business bank. U.S. Bank is a full-service option, offering business savings, merchant services, loans and business credit cards.

While we cover each of these in detail elsewhere, here's a snapshot of what's available for business owners.

U.S. Bank's

Platinum Business Money Market Account

offers a stellar APY for businesses that can hit the bonus requirements. It's one of our picks for best business savings accounts. The bank also offers a standard business savings account, though interest rates for that option are very low.

US Bank National Association (Business)

Platinum Business Money Market Account

NerdWallet Rating

3.0

APY

4.00%

Read Review

Learn more

at U.S. Bank, Member FDIC

U.S. Bank’s suite of business credit cards includes top-rated options for cash back, travel rewards and even corporate travel. The

U.S. Bank Triple Cash Rewards Visa® Business Card

is an excellent option for businesses that spend a lot on gas, office supplies, cell phone service and at restaurants. You get 3% back in those categories, with no cap on how much you can earn. There's also a great sign-up bonus, no annual fee and a long intro APR period.

» MORE: Best U.S. Bank business credit cards

U.S. Bank

U.S. Bank Triple Cash Rewards Visa® Business Card

Rates and Fees

NerdWallet Rating

4.4

Bonus Amount

$750

Read Review

Apply now

on U.S. Bank's website

U.S. Bank's Business Essentials Checking customers get a free mobile card reader, making it easy to use the bank for payment processing. U.S. Bank merchant services have no monthly fee and deliver customer payments to your bank account within a day.