Business banking isn’t quite the same as personal banking. It’s a bit harder to find online banks that offer business checking accounts without monthly fees, minimum balance requirements, or transaction limits. This can be a bit of a hurdle for small businesses and solo entrepreneurs. But don’t worry, there are still plenty of good options out there for small business checking accounts.
Here are some of the best ones:
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Chase Business Complete Checking®: This is a great option for new entrepreneurs interested in Chase. They’re offering $300 to new customers who open an account and complete certain activities by July 22, 2024. To get this offer, you need to open a new account, deposit at least $2,000 within 30 days, maintain that balance for 60 days, and complete at least five qualifying transactions within 90 days.
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U.S. Bank Business Checking Packages: U.S. Bank has a wide range of business checking options available nationwide. They offer three different packages: Silver, Gold, and Platinum. Each package has its own benefits and features, like a $100 minimum opening deposit, online and mobile banking, card payment processing, and check fraud prevention. Plus, until August 30, 2024, you can earn a bonus worth $800 when you open a new account and complete qualifying activities.
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Found: If you’re a freelancer or small business owner looking for a comprehensive financial suite, Found might be the right fit for you. They offer a range of features like expense categorization, tax management, and invoice generation, all without hidden or monthly fees.
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Bluevine Business Checking: This account stands out because it pays interest on balances up to $100,000 when you meet your monthly activity goals. It also offers unlimited transactions and no monthly fees or minimum balance requirements.
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Free Novo Business Checking Account: If you’re tired of hidden fees and monthly charges, Novo might be the right choice. They offer a truly free business checking account with no hidden or monthly fees.
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Lili Standard and Lili Pro: Lili offers two products for businesses of all sizes. Lili Standard is a free, all-in-one checking solution that makes it easy to manage business and personal finances in the same account. For $9/month, Lili Pro adds features like a premium Visa business debit card, cash-back rewards, and unlimited invoicing.
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NorthOne Business Banking: For $10 per month, NorthOne offers unlimited banking, including payments, transfers, deposits, and debit card transactions. They also offer mobile check deposit and cash deposits at over 90,000 Green Dot locations.
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BankProv Small Business Checking: This is a great option for businesses that can maintain a higher balance. They offer 100% DIF insurance coverage, boosting your deposit insurance protection above the standard FDIC coverage limit.
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NBKC Business Checking Account: NBKC offers a truly free business checking account with no balance requirements, monthly maintenance fees, or transaction fees.
When choosing a small business checking account, consider factors like account fees, minimums, limits, yield, bonuses, and other features. It’s also important to keep your business and personal finances separate for easier budgeting and to reduce your personal financial liability.
