Bluevine Checking also supports up to five sub-accounts to help you keep your business finances organized. North One’s services are not available to businesses in certain high-risk industries, including but not limited to adult entertainment, nonprofits, marijuana, gambling and casinos, and firearms. Grasshopper also has numerous lending and venture capital options for startups and small businesses. The other big fee is a 3% charge for foreign transactions, which rules Live Oak out as a viable international business option. Certificates of deposit are available for business customers with terms ranging from six months to five years. APYs on CDs depend on the term increases, and reach up to 4.10%.
Business Advantage Fundamentals is a solid business checking option with a low monthly service fee. You can access your account online or from more than 4,000 locations scattered across the country. For such a large bank, it does not have 24/7 customer service or cover out-of-network transaction fees. If you’re in the market for the best business checking account, the options can be overwhelming. And when every list of the best business checking accounts seems to include choices, how can you really know which bank to go with?
Lending with Bank of America requires you to meet specific revenue and business requirements in order to be considered for a loan or line of credit. Both options start at $10,000, and you can choose to receive funds when needed. The bank will deposit $300 into your Business Complete Checking account as long as you meet certain requirements. In addition, Chase has a wide range of credit cards for earning cash back or points toward things like travel. You’ll have to look pretty hard to find fees with Novo, but they do exist.
While SunTrust and BB&T have merged to become Truist, both institutions will continue to offer business checking account independent product lines for a period of time. This may include differing underwriting guidelines, product features, terms, fees, and pricing. Once you’ve landed on the bank you want, you’ll need to gather several documents required to open a bank account and have that information handy while you fill out your online application. The best bank account for your business depends on which features you need.
- The Found business checking account can be an excellent choice if you’re a freelancer or independent contractor.
- For a full list of documents by business type, please see our checklist.
- So if you’re a new or small business, this checking account may be a good fit for you.
- You’ll also have access to a debit card that accrues points you can turn into cold hard cash.
U.S. Bank Silver Business Checking: Best Business Checking Account With Lending Options
- Incoming domestic wire transfers cost $15 each, while outgoing transfers cost $20.
- It’s possible to receive upto 4.0% APY on your business checking account if you meet one of two conditions.
- Explore U.S. Bank’s range of business term loan options to grow your business.
- You must maintain a balance6 of at least $25,000 for 60 days after account opening and complete five qualifying transactions.
- There are no APY or cash-back earnings for Square checking, which is the biggest drawback, but there is 1% APY available on the Square savings account.
Novo offers merchant cash advances up to $10,000 to eligible customers. The Novo Business Credit Card (issued by Continental Bank) is available to eligible customers and offers up to 2% cash back. Invoice Flex — Novo’s invoice financing product — may also be a funding option if you have eligible unpaid invoices. With no APY interest-earning options to offer, Novo takes a different approach than its competitors and offers partner discounts.
Best business checking accounts for September 2025
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In addition, she has freelanced for Bankrate, covering topics related to credit cards. Erin combines her personal experiences with thorough research and is committed to sharing valuable personal finance advice with others. Begin by prioritizing the terms and conditions that are important to your business, and then see which of our best business checking accounts are most suitable for you. As with personal checking accounts, you’ll receive $250,000 in deposit insurance (per account type) from federally insured banks or credit unions. That’s in addition to the $250,000 you receive in your personal capacity unless you are a sole proprietor, in which case it is combined.
Our experts gave Relay Banking one of the highest overall ratings in the category. Create up to 20 checking accounts with no minimum balances or monthly fees. Get more than just a checking account — reach your financial goals with Nav. Get insights, make payments, send money, and track expenses seamlessly.
Open an account today with a minimum deposit of $100, then add more money as you grow. For a comprehensive list of account pricing, terms and policies, reference the Business Essentials Pricing Information Brochure and Business Pricing Information Brochure. If you’re used to doing business online or on your phone, your bank account should be just as flexible.
Loan and line of credit amounts range greatly, capping at $5 million each. Capital One does away with transfer restrictions, allowing you to keep funds flowing from one bank account to the next. There is a small monthly fee to maintain if you don’t need the requirements, but there are no overdraft fees to contend with. You can even deposit up to $5,000 each month via an ATM or one of Capital One’s branch locations.
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