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Best Small Business Checking Accounts

Stop paying unnecessary fees for your business transactions with these accounts.

Advertiser Disclosure: Most products in our articles are from partners who may provide us with compensation. However, opinions expressed here are author's alone, not those of any bank, credit card issuer, airline or hotel chain.

Whether you’re getting serious about growing your small business or just really enjoying it being a side hustle for now, using a small business checking account is a great way to separate your personal and business finances. This way, you’re not scrambling to figure out what’s what during tax time. Plus, you’ll be able to see the profitability of your venture (and if you have an accountant, they will love you for making their life easier).

Current Small Business Checking Offers

Best All-Around
Chase Business Complete Checking℠
Monthly Fee: $15 with ways to waive
Interest Earning: None
Learn More
Best for Newly Incorporated Businesses
Axos Bank Business Interest Checking
Monthly Fee: $10 with ways to waive
Interest Earning:
Up to 1.01% APY
Learn More
Best for Earning Interest
BlueVine Business Checking
Monthly Fee: None
Interest Earning: Up to 1.50% APY
Learn More
Best for Unlimited Transactions
nbkc bank Business Account
Monthly Fee: None
Interest Earning:
Learn More
Slickdeals updates average percentage yields (APY) periodically. The rates in this article are accurate as of July 2022.

* Jump to the methodology our financial experts used to choose the best small business checking accounts.

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Best Small Business Checking Accounts

Choosing the best account for your needs is really about how you conduct your business. Do you manage a lot of cash or receive a large amount of direct deposit transactions? Or do you prefer conducting all your banking online or need to go in person every once in a while?

We’ve rounded up some of the best business checking accounts — both brick-and-mortar and online options — to help you figure out which one you should go with.

Best All Around: Chase Business Complete Checking

Florists Using Digital Tablet in Store with chase logo
Monthly Fees: $15 with ways to waive†
ATM fees: None
Minimum Deposit: None
Minimum Balance: None
Promotions: $300 bonus

†Fee can be waived by maintaining a minimum daily balance of $2,000, or by receiving $2,000 in deposits from QuickAccept transactions or other eligible payment solutions each month.

Chase Bank’s newest business checking account makes it easier to waive the monthly fee and adds a $300 bonus to sweeten the deal.

Most small banks have a limited selection of business accounts, but Chase has products to assist solo-run side hustles all the way up to Fortune 500 multinational conglomerates. I personally fall into the small business camp, with just myself and a couple of contractors working for my company. When I first compared options for a small business checking account, Chase had an account almost perfect for my needs.

Though the account technically is not free, you can waive the monthly fee if you maintain a minimum daily balance of $2,000. However, if you’re earning a decent amount in your business, waiving the monthly fee won’t be that hard to do. This, combined with the fact that it offers service in a large number of branches throughout the country (and, of course, online), makes Chase a solid choice.

Learn more at our full review of Chase Business Complete Checking.

Best for Newly Incorporated Businesses: Axos Bank Business Interest Checking

axos bank logo
Monthly Fees: $10 (waived with a $5,000 average daily balance)
APY: Up to 1.01%
ATM fees: None†
Minimum Deposit: $100
Minimum Balance: None
† In addition to fee-free ATMs, this account also offers unlimited out-of-network ATM fee reimbursements.

This interest-bearing account is also impressive in other ways. You’ll earn up to 1.01% APY based on your deposits — the rate starts going down once you reach $50,000. Axos Bank will also reimburse all of your ATM fees on out-of-network withdrawals. There is a $10 monthly service fee for the Business Interest Checking account, but you can get it waived by maintaining an average daily balance of at least $5,000. Other features include up to 50 free monthly transactions, remote check deposit, a debit card, and online and mobile banking.

Best for Earning Interest: BlueVine Business Checking

blue vine logo
Monthly Fees: None
APY: Up to 1.50%
ATM fees: None
Minimum Deposit: None
Minimum Balance: None

Most small business checking accounts don’t offer interest. While some other options on our list do, this one takes the crown for the highest return. BlueVine Business Checking will give you 1.5% APY on your first $100,000 in the account — that’s almost impossible to beat, even with a personal high-yield savings account.

As you use the account for your day-to-day needs, you won’t have to worry about a monthly service fee, an NSF fee, an ATM fee at MoneyPass ATMs or a minimum deposit or balance. BlueVine Business Checking also offers unlimited free monthly transactions, making it a solid choice for small home-based businesses and growing start-ups alike.

Best for Unlimited Transactions: nbkc bank Business Account

Bike shop owner working on vintage bicycle with NBKC logo
Monthly Fees: None
ATM fees: None; up to $12 in fee reimbursements worldwide
Minimum Deposit: None
Minimum Balance: None

If you’re looking for a simple account that offers unlimited transactions, nbkc bank is a great choice. You won’t earn interest, but you don’t have to worry about minimum balance amounts or monthly fees. Plus, you get up to $12 in ATM fee reimbursements worldwide and access to 32,000 fee-free ATMs through the MoneyPass network.

Because nbkc bank only has a few brick-and-mortar locations, you can do all your transactions online. While nbkc bank business checking account is free, you can pay for add-ons like Desktop Deposit, where you can receive unlimited account support and make deposits from your computer.

This account is best for those who have minimal needs, such as those who are just starting out.


There’s no shortage of business checking accounts. You can get one from one of the big banks like Chase, Capital One and Wells Fargo, online-only banks, and your local credit unions.

We made our choices for the best business bank accounts by focusing on a few different factors.

For example, most small business owners prefer a fee-free account, and if there is a monthly service fee, they want the option to get it waived. We also focused on accounts that offer a lot of free transactions, good online banking options, high transaction limits, low balance requirements and more.

Frequently Asked Questions

What is considered a bank account item?

Depending on the account you choose, you may only have a limited number of free items or transactions. But what falls under this term? There may be some differences depending on the bank. But in general, it can be debits, credits and deposited items. For example, include checks, cash deposits, debit card transactions and ATM deposits would all fall under that category.

If you’re a brand new start-up, you may not care much about how many free transactions you get. But as your business grows, it may become more important, and switching bank accounts at that stage can be a pain. So keep this in mind as you make your decision.

Are account sign-up bonuses taxable?

Like credit cards, certain small business checking accounts offer a sign-up bonus to incentivize new customers to open an account. It’s important to keep in mind, though, that the bonus business owners receive is considered interest and will be taxable. You should receive a Form 1099-INT at the beginning of tax season, which you’ll use to file your return.

Can you make cash deposits with online-only business bank accounts?

In many cases, cash deposits aren’t an option with business checking accounts. So if your business works a lot with cash deposits, you’ll want a non-electronic way to deposit it at a local branch. These banks and credit unions also offer online banking features, giving you the best of both worlds.

What is required for a business checking account?

A lot of the information required to open a business account is similar to opening a personal bank account. There are, however, some differences. For starters, you’ll need your employer identification number (EIN), or your Social Security number (SSN) if you’re a sole proprietor.

You’ll also need to provide your business license, as well as ownership agreements and business formation documents, if applicable.

Depending on the account, you’ll also need some cash to meet the opening balance requirement.

Should I separate my personal and business checking?

If you’re a sole proprietor, you may be wondering if it’s worth it to open a separate checking account for your business. The short answer is yes.

Separating your personal and business bank accounts makes it a lot easier for you to do your accounting and taxes. You’ll also have a more accurate view of your revenue and expenses for your business, which can help you make better decisions.

The same goes for credit cards. In fact, credit card interest is deductible if incurred for business expenses. But if you’re using the same card for business and personal expenses, it’ll be difficult to know how much you can deduct.

Should I get a free business checking account?

No-fee bank accounts can be perfect for a lot of businesses, especially new start-ups. But as you shop around and compare your options, it’s important to consider the fees and the account features.

For example, if an account that charges a monthly maintenance fee offers a benefit that’s worth more to you than what you’d pay every month, it might be better to choose that over a free business checking account.

Can I open a regular bank account for my small business?

Yes, if your small business is a sole proprietorship, you may be able to use a regular bank account. That means you’re the owner of the business, and it’s in your name. This would enable you to write checks that can cover the business’ expenses and accept payments from customers.

However, in many cases, it’s better to open a business bank account. In this way, you can write checks in the name of the business, get a business debit card, and accept checks and payments addressed to your business. A business bank account also creates a useful separation between your personal accounts and those of your business.

This makes it easier to segment your personal and business finances, analyzing each separately and discovering ways to improve the way you manage them on an individual basis. In this way, you can make it easier to avoid spending personal money to fund your business once it gets off the ground. If your business is able to support itself using its own bank account, for example, this can be a good indicator of how well it’s doing.

What is needed to open a small business bank account?

Generally speaking, you need the following when opening a small business bank account:

-Employer Identification Number or a social security number if your business is a sole proprietorship
-Agreements outlining how shares of the business have been allocated, including who the owners are
-The formation documents of your business
-A license to operate your business, if necessary. You should check with your bank to see if this is needed.

It’s important to keep in mind, however, that the bank has the right to require whatever documents it wants. It’s best to check in with your bank before starting the account opening process to get a precise list of all the requirements.

What does an LLC need to open a bank account?

In general, an LLC needs the following to open a bank account:

-The address and name of your business
-The date the business was established, specifically the month and year
-Your business’ tax ID number, or your Employee Identification Number (EIN)
-The country and state in which your business was formed
-The primary country and state in which the business will operate
-Personal information for everyone included in the application. This will involve getting information such as the Social Security Number and date of birth for all individuals who have at least 25% ownership or are controlling members of the business.

Even though these are common requirements, it’s up to your bank to decide which documents an LLC has to provide. In most cases, you can check your bank’s website to see what the requirements are or make a quick phone call to get the answers you need.

Which bank is easy to open a business account?

There are several bank accounts that make it relatively easy to open a business account, as long as you have the required documents. You also have the option of choosing one of many online banks to open your business account.

Consider the best business bank promotions when opening an account, to help you get the most out of your new account.

The Bottom Line

With so many good business checking accounts, it’s important to take your time to select the best one for your business. Consider your banking habits and the types of features you’ll need, and use that information to inform your decision.

While we work hard on our research, we do not always provide a complete listing of all available offers from credit-card companies and banks. And because offers can change, we cannot guarantee that our information will always be up to date, so we encourage you to verify all the terms and conditions of any financial product before you apply.

Ben Luthi
Ben Luthi
Ben Luthi is a personal finance and travel writer and credit card expert. He has a degree in finance from Brigham Young University and worked in financial planning, banking and auto finance before writing full-time for NerdWallet and Student Loan Hero. Ben is now a full-time freelance writer and enjoys traveling and spending time with his two kids. His work has appeared in several publications, including U.S. News & World Report, USA Today, Money, Success and Slickdeals.

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