Novo Business Checking is worth considering if you want to establish a business presence and separate your personal and business finances. Please refer to the Digital Services Agreement for more information. Some people also like to spread their money across more than one account as a security measure. Just to be safe, be sure to keep track of those account numbers and passwords. Whether you’re burning the midnight oil or rising early, you’ll know you can get help from Citizens.

• It charges no fees for digital transactions, which include eligible online bill payments, ACH payments, and mobile deposits.
• We update our data regularly, but information can change between updates.
• Some lenders require business bank statements to verify business revenues, and will not approve loan applications from businesses without one.
• The welcome bonus is given to anyone approved for Axos who applies using the welcome offer promo code before the deadline listed.
• Whether you’re burning the midnight oil or rising early, you’ll know you can get help from Citizens.
• The financial needs of your business are only going to grow as it matures.
• While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.

If you spot a mistake, you can file a dispute to ChexSystems to get it fixed before opening a business checking account. Keep in mind that documentation may be required when filing a dispute. Under the Fair Credit Reporting Act, you’re entitled to a free copy of your ChexSystems once every twelve months. Although the NBKC online platform and mobile app are user-friendly, they’re more basic than offerings from other banks and don’t have many business-specific tools for budgeting and accounting. When starting a business, choosing the best business checking account doesn’t have to be complicated. Being well-informed about your business’s finances and the features of different account offerings will help you make the best decision with confidence.

Best for team access

We’ve found some great banks for all kinds of business needs―but if you’re having a tough time narrowing down your choices, we’ve got some advice. You’ll also want access to customer support in a way that works for you, whether that’s by chat, in the mobile app, SMS text or phone. If we need additional information for our review, we will email you with the requirements. If requested, you have 11 business days after you apply to send us your supplemental documents. Find in-depth articles, tools and great information designed to help business owners start, run and grow their business. Investopedia collected information from company websites and customer service representatives.

Features

Brex does not guarantee any third-party product, service, information, or recommendation, and may receive compensation from third parties for referring you to them. Be sure to review third party offers for conditions that may apply. Brex’s travel management booking solution strikes a balance between consumer-grade usability and corporate control. Rather than forcing employees to navigate between separate systems for booking travel and managing expenses, Brex has created an integrated experience that maintains compliance without sacrificing convenience.

• Small businesses and entrepreneurs choose Grasshopper when they want to earn interest on their checking accounts while keeping banking simple.
• For an online bank that can compete with brick-and-mortar banks, LendingClub Banking has the most comprehensive online banking we’ve found.
• “But to have to also do all of the financial end of things … it’s not what they enjoy doing.
• Where traditional banks emphasize branch services and lending products, Novo focuses instead on connecting with the digital tools that small online businesses use daily.
• For complete information, see the terms and conditions on the credit card, financing and service issuer’s website.
• To choose the best nationwide checking account for your business, you’ll want to consider a few key factors.
• In other words, freelancers, independent contractors and those with side gigs are welcome.

Found Bank is a really unique bank offering that is geared specifically toward freelancers. Found's checking account has a ton of freelance-specific features like freelance tax estimates, tax savings, invoicing, and more. Found is also great for freelancers because the application requires no credit checks, making it easier to qualify for this checking account option. Plus, Found has one of the smallest amounts of banking fees on this list, unless you opt for the Plus checking account.

Which bank is best for small businesses?

Digital-focused businesses should consider alternatives to Chase if they want to avoid traditional banking fees and balance requirements. The bank's conventional approach — with transaction limits and monthly maintenance fees — may not suit companies that operate primarily online or rarely use branch services. Small businesses seeking high-yield accounts or modern banking tools will find Chase's traditional model costly compared to digital-first alternatives. Novo offers simple business banking through their free checking account with debit card access, no hidden fees and zero minimum balance requirements. Novo allows you to integrate with the business tools you already use, like Xero and Wise, and empowers you with a dashboard to see the financial health of your business at a glance.

Security Services Federal Credit Union

Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products.

Business Banking FAQ

The best business checking account has business checking account little to no fees, good transaction limits, strong rewards, and noteworthy features. Out of the dozens and dozens of checking accounts we looked at, here are the nine that stand out as the most worthwhile for businesses. Brex isn’t a traditional business bank account, it is a cash management account offered through Brex Treasury.

Below, we’ve identified which banks have the best checking and what makes them stand out. We’ve chosen these banks based on their account offerings, banking fees, availability, customer reviews, and other key factors. And for bonus points, all of our picks offer nationwide banking for busy, on-the-go entrepreneurs. Open your account today and join thousands of growing companies already benefiting from integrated banking, accounts payable automation, and powerful spend management tools. Sign up now and experience why Brex has become the go-to banking solution for modern startups.

Novo also only offers customer service through their app or by email. Freelancers, influencers, and small online businesses or 1099 workers looking to simplify their bookkeeping and streamline their banking will find the extensive features of Found to be useful. You can use a personal bank account for your business if it's a sole proprietorship, but even in this case, it can cause issues with record-keeping and tax preparation. The Axos Basic Business Checking account is a good fit if you want ATM access. It offers unlimited domestic ATM fee reimbursements, so you don't need to worry about whether an ATM is in-network.

Avoid the $35 monthly service fee by maintaining a $25,000 minimum 30- or 90-day average monthly ledger account balance. Account holders can open up to two Capital One Business Basic Checking accounts with no monthly service fee if the Capital One Business Enhanced Checking is open and in good standing. Free overdraft protection is available with a linked Capital One Business deposit account. We like that this account offers unlimited free incoming domestic wire transfers and five free outgoing wire transfers each month. We also like that Capital One gives you the option to open two Business Basic checking accounts to meet your business’s needs.

So while we love the free banks above, NorthOne does give you quite a few features they don’t―and those features just might be worth paying for. Certain services available through Brex may be provided by Brex Payments LLC (NMLS # ), an affiliate of Brex and a licensed money transmitter. The Brex Mastercard® Corporate Credit Card is issued by Emigrant Bank, Member FDIC, Fifth Third Bank, N.A. Member FDIC, and/or Airwallex (Netherlands) B.V. Pangea connects organizations with marketing and design professionals. In a tough venture capital environment, co-founder Adam Alpert shifted focus to lean profitability and zero-based accounting methodologies to make every dollar count. On the whole, yes, we think small banks work better for small businesses.