The best free business checking accounts offer no monthly fees (or easy-to-waive fee conditions), no initial deposits, or balance minimums. Some financial providers will provide additional savings by keeping transactions fee-free, including cash deposits and ATM withdrawals. Some may not offer unlimited transactions, but the limits given are high enough to meet the monthly needs of small businesses.
Here is a list of our 10 best free business checking accounts.
- Best overall free business checking account: Bluevine
- Best free checking with a traditional bank: U.S. Bank
- Best for teams seeking more accounts and debit cards: Relay
- Best for robust startup services and high FDIC insurance coverage
: Mercury - Best for a full suite of banking products and premium checking: Chase
- Best high-yield bundled business accounts with cash back rewards: Grasshopper Bank
- Best for speedy fund access and express payments: Novo
- Best for nonprofit checking account: Truist
- Best for budgeting and multiple software integrations: North One
- Best for freelancers and self-employed professionals: Found
Best free business checking accounts quick comparison
The table below shows the main factors we evaluated for the 10 best free business checking accounts.
Bluevine: Best overall free business checking account
Our rating: 4.35 out of 5
Bluevine is an outstanding fintech offering excellent banking products to business owners. You can apply for business checking accounts with high yields, a line of credit with easy qualifications, and a credit card with unlimited cash back rewards. Its basic tier, Bluevine Standard has no monthly fee and offers a 2.0% APY for qualifying balances of up to $250,000. You only need to meet at least a $500 monthly spend using your Bluevine debit card or receive a minimum of $2,500 in monthly payments into your checking account to earn interest.
Why we chose it
Bluevine is our overall best free business checking account because it offers several no-fee business checking accounts with waived or waivable monthly fees. Additionally, no standard ACH fees or domestic inbound wire fees are charged. When opening an account at Bluevine, you’re not required to make an initial deposit. High APY rates are also available, reaching up to 4.25% under Bluevine Premier (the highest tier).
However, keep in mind that using an ATM outside the MoneyPass network can lead to a fee of $2.50 on top of third-party operator surcharges. Cash deposit fees
also apply when transacting at Green Dot and Allpoint+ ATMs.
Monthly fees
- Bluevine Standard: $0
- Bluevine Plus: $30; waivable by having:
- An ADB of $20,000 across your Bluevine checking account, including subaccounts.
- A spend of $2,000 monthly using your Bluevine debit or credit card.
- Bluevine Premier: $95; waivable by meeting:
- An ADB of $100,000 across your Bluevine checking account, including subaccounts.
- A spend of $5,000 monthly using your Bluevine debit or credit card.
Features
- Free ATM access at over 37,000 MoneyPass locations.
- Free domestic incoming wires.
- No standard ACH fees.
- Lines of credit of up to $250,000 at low rates.
- International payments to 32 countries in 15 currencies.
- Quickbooks, Xero, and Wave integrations.
- Wise, Venmo, CashApp, and Square compatibility.
- FDIC insurance of up to $3 million.
Pros and cons
| Pros | Cons |
|---|---|
| No monthly fee for Bluevine Standard. | No savings products. |
| No minimum balance or initial deposit requirement. | $2.50 for non-network ATM use, plus third-party operator fees. |
| High business checking APY rates. |
U.S. Bank: Best free checking with a traditional bank
Our rating: 4.29 out of 5
U.S. Bank is a traditional provider founded in 1863. Its free corporate bank account, Silver Business Checking, lets you save on monthly fees with no preset conditions to meet. You can make 125 fee-free monthly transactions and deposit cash up to $2,500 for free each month. No ATM fees are collected when you use the bank’s in-house ATMs and the MoneyPass network ATMs.
Just like other traditional providers, U.S. Bank also has a wide range of business banking products that can support your business. You can take advantage of high-yield savings and lending products like lines of credit and small business administration (SBA) loans to increase your working capital. You can also access vital business services, such as cash management, payment processing, and payroll processing.
Why we chose it
We chose U.S. Bank since it is rare for traditional banks to offer a fee-free business checking account. Most of the time, established banks have prerequisite conditions for users to fulfill before waiving the monthly fee. U.S. Bank business checking accounts can be opened online if you are based outside its branches in 28 states
. An upside to opening a new U.S. Bank business checking account is its $900 bonus (promo code: Q4AFL24) when you meet qualifying activities. The offer is valid through January 15, 2025. Member FDIC.
An initial deposit of $100 is required when you open a U.S. Bank business checking account. Beyond the set transaction limit of 125 for Silver Business Checking, a fee of 50 cents per item will be charged.
Monthly fees
- Silver Business Checking: $0
- Gold Business Checking: $20; waivable by having any of these:
- A U.S. Bank Payment Solutions Merchant account.
- $10,000 average collected balance.
- $20,000 combined average collected business deposit balances.
- $50,000 combined average collected business deposits and outstanding credit balances.
- Platinum Business Checking: $30; waivable by having any of these:
- $25,000 average collected checking balance.
- $75,000 combined average collected business deposits and outstanding credit balances.
Features
- No monthly fee for Silver Business Checking.
- QuickBooks and ADP integrations.
- Point-of-sale (POS) solutions and cash management services.
- Overdraft protection.
- High-yield money market accounts.
- Check fraud prevention services.
- Zelle integration.
- Small Business Administration (SBA) loans, lines of credit, and term loans.
Pros and cons
| Pros | Cons |
|---|---|
| No monthly fee for basic tier checking. | Steep balances are required to waive monthly fees for high-tier accounts. |
| No ATM fees on the MoneyPass network. | Low free cash deposit limit for basic accounts. |
| $900 welcome bonus. | Minimal interest is offered for interest-bearing checking products. |
Relay: Best for teams seeking more accounts and debit cards
Our rating: 4.27 out of 5
Relay is a fintech providing a lot of savings to business owners. Aside from offering a business checking account that does not require an initial deposit, minimum balance, or monthly fee, you can deposit and withdraw for free at Allpoint ATMs. Another free business banking account you can open with your checking account is a savings product that earns tiered interest of up to 3%.
Transactions are unlimited with a Relay business checking account, while ACH and incoming wire transfers remain free. If you often send out wires, you can save more by subscribing to its premium plan, Relay Pro ($30 monthly) for free outgoing wires and 50 same-day ACH transfers.
Why we chose it
Relay suits companies with a team setup since you can issue up to 50 free physical and virtual Visa debit cards to your employees to track expenses in great detail. All card purchases are automatically categorized, which reduces your time spent reconciling expenses. You can also create 20 checking accounts to organize your cash flow and budget for different business expenditures. Further, collaborating with your team is easy under Relay, as you can assign different account access levels per company role.
Aside from depositing at Allpoint ATMs, Relay also lets you deposit through Green Dot retail locations ($4.95 fee). Relay business checking accounts do not provide an APY.
Monthly fees
- Relay Business Checking: $0.
- Relay Pro: $30; not waivable.
Features
- Free and customizable debit cards.
- Integrates with QuickBooks, Xero, Gusto, and Plaid.
- Compatible with PayPal, Stripe, Square, Wise, and Venmo.
- Shared account access.
- Tiered APY for Relay business savings accounts.
- FDIC insurance coverage of up to $3 million.
- Relay Visa® Credit Card is available by invitation.
- Free outgoing wires and same-day ACH under Relay Pro.
Pros and cons
| Pros | Cons |
|---|---|
| Unlimited transactions and no monthly fees. | Checking accounts does not earn APY. |
| Free incoming wire transfers. | Lacks business lending products. |
| 20 subaccounts under a single ID (10 for sole proprietors). |
Mercury: Best for robust startup services and high FDIC insurance coverage
Our rating: 4.11 out of 5
An excellent choice for startups and tech companies is the digital provider Mercury, which offers a fee-free checking account with unlimited transactions. Not only will you save on monthly fees, but you can also save on ACH transactions and wire transfers (both domestic and international), which are offered for free. There are no charges for account opening deposits and overdraft fees as well. Mercury provides access to products and services designed for startup companies.
Why we chose it
What separates Mercury from other financial providers is its startup-focused products. You can benefit from investor community programs, simple agreements for future equity (SAFEs), and venture debt financing. New startups can browse through a database to interact with potential investors for an opportunity to raise capital, find a mentor, and offer future business equity. As a Mercury account holder, you can also protect your business funds through an FDIC coverage of up to $5 million via a sweep network with Evolve Bank & Trust or Choice Financial Group
.
Mercury does not offer a cash deposit option, and its checking account does not bear interest.
Monthly fee
- Mercury Business Checking: $0.
- Mercury Plus: $35.
- Mercury Pro: $350.
Features
- Physical and virtual debit cards.
- 14 subaccounts.
- Savings account available when you open a checking account.
- Mercury investor database and Mercury Raise program for networking and funding.
- SAFE is an early financing option for startup companies.
- QuickBooks, Netsuite, and Xero accounting software integrations.
- Compatible with Shopify, Stripe, Square, Zapier, Amazon, and PayPal.
- Advanced accounting automation under a subscription plan.
Pros and cons
| Pros | Cons |
|---|---|
| No monthly fees or opening deposits. | No cash deposit support. |
| No wire transfer fees. | Cannot open sole proprietorship and trust accounts. |
| FDIC insurance coverage of up to $5 million via a sweep network . | Checking and savings accounts are non-interest bearing. |
Chase: Best for a full suite of banking products and premium checking
Our rating: 4.10 out of 5
Chase is an established bank with three types of business checking accounts. Its basic tier, Complete Business Banking, has a monthly fee that can be waived in many ways. No initial deposit and balance minimums are required when opening this account. Although there is a limit of 20 paper transactions, electronic transactions are unlimited. Chase remains one of the few financial institutions with a large geographical footprint of over 4,700 branches in 48 states.
Why we chose it
As a full-service bank, you can access various banking products and services at Chase, which include specialty checking accounts, savings accounts, credit cards, lending, and collection services. Chase also has an outstanding premium tier, Chase Platinum Checking, which offers more subaccounts, fraud protection services, fee-free ATM usage, and dedicated concierge support. Companies needing in-person banking services can find a Chase branch easily with its nationwide presence.
New Business Complete Banking account holders can get a $300 welcome bonus by completing qualifying activities. If you seek to earn interest from a checking account, other providers on this list can be a better option.
Monthly fees
- Chase Business Complete Banking: $15; waivable by having any of these:
- $2,000 average daily balance (ADB).
- $2,000 Chase Ink Business Cards spend.
- $2,000 in deposits from Chase QuickAccept or other eligible Chase Payment Solutions transactions.
- Chase Private Client Checking account.
- Qualifying proof of military status.
- Chase Performance Business Checking: $30; waivable by meeting a $35,000 or greater combined ADB in qualifying business deposit accounts.
- Chase Platinum Business Checking: $95; waivable by meeting a $100,000 combined ADB across qualifying business deposit and investment accounts. With a linked Private Client Checking account, the required ADB is $50,000.
Features
- Free associate and employee debit cards upon request.
- Digital banking and branch locations in 48 states.
- Chase Bank QuickBooks integration.
- Built-in card acceptance through its mobile app.
- Low to no fees for FX transactions made via online or Chase’s app.
- Fraud protection services.
- Payment and invoicing services via Chase Payment Solutions.
- Online and branch customer support.
Pros and cons
| Pros | Cons |
|---|---|
| No required opening deposit and minimum balance for basic checking. | No interest earnings. |
| Unlimited electronic transactions. | Only 20 fee-free paper transactions. |
| $300 cashback bonus for new accounts (conditions apply). | High balances to waive the monthly fees for premium checking accounts. |
Grasshopper: Best high-yield bundled business accounts with cash back rewards
Our rating: 4.05 out of 5
A purely digital bank, Grasshopper offers fee-free checking products with no monthly fees and minimum balances. However, an opening deposit of $100 is required. Grasshopper has two types of checking accounts with a different user base. The Innovator Checking account is created for small and mid-sized businesses, whereas the Accelerator Checking account fits early-stage startups and venture capital companies. Grasshopper accounts earn a variable interest rate, depending on your balances.
Why we chose it
Traditional banks don’t typically offer APY earnings for checking accounts, making Grasshopper one of the few excellent choices for those seeking to grow their checking funds. An Innovator Checking product can earn a tiered interest of up to 2.0% for balances amounting to $25,000 or more. Even better, bundling your Innovator Checking account with an Innovator Money Market Savings account can increase your APY by up to 3.30%. On top of these, you can also benefit from unlimited cashback rewards of 1% for both online and signature-based purchases made with your Visa debit card.
Grasshopper does not charge ATM fees when you use MoneyPass and SUM network ATMs. However, it lacks a cash deposit option. You can open an Innovator Money Market Savings account only if you have an Innovator Checking account.
Monthly fees
- Grasshopper Innovator Checking: $0.
- Grasshopper Accelerator Checking: $0.
Features
- Up to 3.30% APY when paired with an Innovator Money Market Savings account.
- Unlimited 1% cash back on online and signature-based purchases.
- Free physical and virtual Visa rewards debit cards.
- Free bill pay and check deposit services.
- Free domestic ACH and wire transfers for qualified balances.
- Autobooks, QuickBooks, and Plaid integrations.
- FDIC insurance of up to $125 million.
- US-based customer support via phone, email, chat, and secure message.
Pros and cons
| Pros | Cons |
|---|---|
| No monthly or transaction fees. | Minimum $100 opening deposit. |
| Interest-bearing account. | Cash deposits are not accepted. |
| Cash back on debit card purchases. |
Novo: Best for speedy fund access and express payments
Our rating: 3.88 out of 5
Novo is another fintech with a no-fee business checking account, rewarding its account holders with free incoming domestic wires and standard ACH transfers. It also features Novo Boost, allowing quicker access to your Stripe funds than other providers. In addition, you can send payments to your vendors faster through Express ACH. An additional incentive for opening a Novo account is a monthly reimbursement of up to $7 for international and local ATM fees.
Why we chose it
Small businesses looking to receive funds from Stripe payments faster can find Novo a worthwhile choice. Unlike other payment methods, Novo Boost credits customer payments sent via Stripe within hours instead of days. When you need to pay your suppliers, you can use Express ACH, which typically processes transfers within the day. The ACH payment option is ideal for small businesses because it is low-cost and offers more security.
The Novo Business Checking account has no transaction limit and does not earn interest. You can deposit cash via money orders.
Monthly fee
- Novo Business Checking: $0.
Features
- Physical and virtual debit cards.
- ATM fee refunds each month.
- Free incoming wire transfers and standard ACH fees.
- Low-fee international payments from Wise partnership.
- Integrates with QuickBooks, Stripe, Square, and PayPal.
- Free and unlimited invoicing.
- Discounts on QuickBooks, Stripe, and Google Cloud through Novo perks.
- Up to $75,000 merchant cash advance via Novo Funding.
Pros and cons
| Pros | Cons |
|---|---|
| Up to $7 monthly ATM fee refunds. | No APY. |
| No opening deposit or monthly fee. | Cash cannot be deposited directly |
| Can receive payments faster via Novo Boost. | No savings products. |
Truist: Best for a nonprofit checking account
Our rating: 3.87 out of 5
Truist, a traditional bank with over 2,500 branches in 15 states and Washington, D.C., offers two fee-free business checking products. One is a Simple Business Checking account with no monthly fee or required minimum balance and is ideal for users with around 50 monthly transactions. The other account is Truist Community Checking, a nonprofit account with no monthly fee as well and offers a high transaction limit of 225 and unlimited cash deposits. It is our top bank for nonprofit organizations. Both accounts require an initial deposit of $100.
Why we chose Truist
Many traditional banks offer a conditional monthly fee waiver, but Truist does not. Some providers also limit the number of free transactions and cash deposits for specialty nonprofit accounts, while Truist provides a high transaction limit and unlimited cash deposits. If you have a nonprofit organization, consider Truist for the above reasons. The bank also offers a wide variety of business banking products, which include other specialty business checking accounts, savings, CDs, credit cards, small business loans, and insurance products.
Monthly fee
- Truist Community Checking: $0
- Simple Business Checking: $0
Features
- Customized debit card with optional cash back and earnings credit.
- Specialty business checking products include trusts, commercial accounts and public fund accounts.
- $25 discount for initial check order.
- QuickBooks and Zelle integration.
- Dynamic Business Checking tiered rewards include discounted loan rates.
- Free online bill pay and easy digital account management.
- Online financial wellness program for employees.
- Customer support from Mondays to Saturdays; 24/7 automated assistance.
Pros and cons
| Pros | Cons |
|---|---|
| No monthly fee for Simple Business Checking and Community Checking. | No interest earnings. |
| High transaction limit of up to 225 for nonprofit account. | $100 opening deposit. |
| Fee-free cash deposits for the nonprofit product. | $3 nonnetwork ATM fee. |
North One: Best for budgeting and multiple software integrations
Our rating: 3.87 out of 5
The North One Standard account has no monthly fees but requires a $50 initial deposit. Transactions are unlimited and you can benefit from free inbound domestic wire transfers. In addition, two ATM withdrawal fees and one cash deposit fee are refunded each month. All cash deposits are allowed through Green Dot retail locations, which charge a fee of up to $4.95 per transaction. To get lower fees when sending domestic wires, you can upgrade to North One Plus, which costs $20 monthly. You will also get priority support and specialized services from an onboarding assistant and a dedicated manager.
Why we chose it
One of the best features offered by North One is its budgeting tool, Envelopes, which allows you to divide your funds for different expenses. Envelopes are unlimited, making them ideal for organizing your business finances. With a North One account, you can access over 50 integrated software, such as accounting, invoicing, financial management, and productivity tools. These solutions help you monitor your company’s sales, expenses, and profits.
Monthly fee
- North One Standard Account: $0.
- North One Plus Account: $20.
Features
- Physical and virtual cards for each owner.
- Free bill pay and unlimited ACH and domestic wire deposits.
- Integrates with QuickBooks, Wave, Patriot Accounting, Zoho, and more.
- Compatible with Stripe, PayPal, Square, Shopify, Amazon, and eBay.
- Paper checks can be sent via the North One account.
- Discounts and free trials of business software and productivity tools.
- Local customer support is available through phone, email, and live chat.
- Monthly ATM withdrawal fee refunds (2 for Standard users and 6 for Plus users).
Pros and cons
| Pros | Cons |
|---|---|
| Unlimited transactions. | No APY is provided. |
| No monthly fees. | Lacks interest earnings. |
| Its budgeting tool helps categorize funds. | No savings accounts. |
Found: Best for freelancers and self-employed professionals
Our rating: 3.47 out of 5
A fintech made for one-person businesses is Found, which offers a business checking product with no monthly fee, initial deposit, or minimum balance requirement. You also get free ACH and incoming domestic wire transfers. In addition, its built-in bookkeeping, expense tracking, invoicing, and tax tools streamline your business operations. Checking the details of expenses will be easy with receipt capture and filing taxes will be simple for freelancers and self-employed professionals without access to a company accountant.
Why we chose it
Found’s business checking account is on our list for its solid features that help one-person businesses become more efficient through its outstanding tax tools and platform services. Completing a Schedule C form can be done via the app, whereas paying taxes can also be accomplished from the app if you enrolled in Found Plus ($30 monthly). With an upgraded plan, users can earn interest on their checking balances up to $20,000.
Found charges a $2 cash deposit fee per transaction when you deposit at 80,000-plus retailers.
Monthly fee
- Found Business Checking: $0.
- Found Plus: $19.99 per month or $149.99 per year.
Features
- Tax tools for payment, auto-saving, and write-offs.
- Free and unlimited invoices.
- QuickBooks integration and built-in Found bookkeeping software.
- Payment integrations include PayPal, Cash App, Square, Stripe, and Venmo.
- No credit checks and ACH fees.
- No ATM fees since Found does not charge for ATM withdrawals
. - 1.5% APY on balances up to $20,000 for Found Plus subscribers.
- Customized bookkeeping and priority customer service under Found Plus.
Pros and cons
| Pros | Cons |
|---|---|
| No required monthly fee, minimum balance, or opening deposit. | Limited to checking products. |
| Expense tracking with receipt capture. | No physical check support. |
| Free integrated bookkeeping and tax tools. | No international wire transfers available. |
How to choose the best free business checking accounts
We looked at the following factors when evaluating and assigning a rating for the best banks with free business checking accounts:
- Monthly fees and waiver conditions.
- Minimum opening deposit and required maintaining balances.
- ATM fees and transaction limits, including ATM network availability.
- Interest rate.
- Cash deposit options.
- Wire transfer costs.
- Account features.
- Business software integrations.
- Business products and services offered.
- Physical locations.
- App ratings.
Methodology
Before completing the best free business checking accounts list, we reviewed the bank’s interest rate offer and fee structure, which includes the monthly fee, opening balance, and ATM fees. In addition, we looked at the cost of wire and ACH transfers, additional banking products, account features, and app ratings. Cash deposit options and monthly transaction limits were also evaluated.
Frequently asked questions
Can you open a business bank account for free?
Yes, some banks and many fintech platforms offer free business bank accounts with no initial opening deposits, monthly fees, or minimum balances. Others may charge a monthly fee, which can be waived if you meet certain conditions.
How do I open a free business bank account?
Opening a business checking account can be done online or at a branch. You will need to complete an application form and provide essential personal and business information. Then you must submit the required documents, such as government-issued IDs and organization documents.
