Tired of mixing business and personal finances? A free business checking account helps you separate expenses, simplify tax season, and even build business credit without paying a monthly fee.
Whether you’re just getting started or growing a full-time operation, the right account makes it easier to manage money, accept payments, and stay organized without hidden costs.
9 Best Free Business Checking Accounts
These accounts offer no monthly fees, solid digital tools, and features tailored to freelancers, side hustlers, and small business owners.
1. Novo: Best Free Business Checking Account Overall
Novo is a top choice for business owners who want a streamlined, online-first experience.
2. U.S. Bank Silver Business Checking: Best for Sign-up Bonus
U.S. Bank is one of the few traditional banks offering a strong bonus for new business accounts.
3. Found: Best for Freelancers
Found is designed for freelancers, contractors, and sole proprietors who want simple banking with built-in tax tools.
4. Bluevine: Best for Earning Interest on Your Balance
Bluevine is a strong choice for small businesses that want to earn interest without paying monthly fees.
5. Capital One Business Bank Account: Best for Local Branches
Capital One is one of the few traditional banks offering unlimited digital transactions, even on its entry-level business account.
6. Chase Business Complete Banking: Best for Payment Processing
Chase is a strong pick for businesses that want full-service banking with access to physical branches, built-in payment processing, and a generous bonus.
7. Huntington Business Checking 100: Best for Community Banking
Huntington’s Business Checking 100 is built for small businesses that want to avoid fees without giving up access to local branches and solid customer support.
8. Relay Business Checking: Best for Money Management
Relay is built for business owners who want more control over cash flow and spending.
9. Mercury: Best for Start-Ups
Mercury is ideal for startups and tech-savvy businesses that want a no-fee, all-digital checking experience with tools to manage growth.
What to Consider When Choosing the Best Free Business Checking Account
The best free business checking account for your business depends on the volume of cash deposits, number of transactions, the size of your company and your general banking needs.
It’s important for a business of any size, including a sole proprietor or 1099 contractor, to open a business checking account to keep business funds separate from your personal checking account and other personal finances. This is especially important at tax time.
Many of the business bank accounts on our list of best free business checking accounts make it easy for you to track your business finances. They offer end-of-month or quarterly reports or integrate with QuickBooks or other accounting software to make money management easy. This, along with costs, quality of customer service, mobile apps, and more should factor into your decision when you choose a small business checking account.
Monthly Maintenance Fees
Account fees have long been a fact of life, but they no longer have to be with so many free checking accounts available today. Some of the banks on this list, like Bluevine, Novo and Relay, offer no monthly fees. Others make it easy to waive monthly fees by meeting balance requirements.
See if there are any balance requirements, direct deposit requirements, or minimum debit card purchases to avoid the monthly service fee, and if you will be able to meet those minimums easily each month.
Easy-to-use Online and Mobile Banking
Even basic business checking today should have a robust app and mobile banking solutions, including mobile check deposits, capability to turn your debit cards on or off, and to monitor spending in a user-friendly app.
You may think online-only banks have better mobile capabilities, but that’s not always the case. All the best business checking accounts on our list have intuitive, user-friendly mobile apps.
Low Minimum Opening Deposit Requirements
Most of the free checking accounts on our list have low minimum opening deposit requirements. Some may have higher minimums to earn a bonus on your business checking account. Make sure to read the fine print and know the minimum deposit requirements if you want to earn that sign-up bonus.
Reasonable Fees
While it’s possible to find a business checking account with no monthly service fee, your bank may have some fees. Read the fine print so you know exactly what you’re getting for your money. It should be easy to avoid ATM fees, overdraft fees, and even monthly fees.
However, you may have to pay for wire transfers, out-of-network ATMs, and other transactions. Unlike personal accounts, it’s common for business bank accounts to have fees if you deposit cash. Sometimes, a certain number of cash transactions is included in your monthly fee.
Customer Service
It’s important to research the bank’s customer service. Make sure to read reviews and customer feedback, and ask questions to the bank. It’s also important to make sure the bank has a good reputation and is reliable.
Online only banks, especially, may have limited ways to reach customer support. Find out if they offer 24/7 service. Many people prefer online banking for the convenience and low monthly account fees. But if you experience a problem, you want to make sure you can get help promptly.
Positive Customer Reviews
When you’re looking for the best business checking account, it pays to research the opinions of other business owners like you. Customer reviews can give you a feel for the level of customer service, ATM fees, monthly fees, fraud protection, and more.
Practical Transaction and Cash Deposit Limits
Many of the best business checking accounts offer unlimited transactions and reasonable monthly limits to deposit cash. Many banks offer different tiers of accounts, so you can pay a set monthly fee for the level of service you need.
Linked Business Savings Account or Business Interest Checking Account
If you want to earn interest on your cash reserves, look for a checking account that pays interest or for a bank with a high-yield savings account. Pay attention to account fees, withdrawal limits, and
Consider the Need for a Bank With Physical Locations
Online banking offers lower monthly fees and convenience. But if your business needs to deposit cash regularly, or you just want personalized service and relationship banking, you might prefer a bank account at a financial institution with brick-and-mortar locations.
Questions to Ask Before Deciding on a Business Checking Account
When you’re shopping around for a free business checking account, consider your needs, the number of transactions you conduct daily, your account balance, and whether you prefer a traditional bank or are willing to consider online only banks for your business checking needs. Ask yourself the following questions so you can compare your options.
Will you be making regular cash deposits?
Many business checking accounts charge a fee if you want to deposit cash. Sometimes, a number of cash deposits will be included in your monthly fee. Make sure to pick an account with the capabilities you need.
Do you prefer a bank or credit union?
You might prefer the personalized service of a credit union instead of choosing a large bank or an online bank. When you’re evaluating credit unions, compare all the features and fees the same as you would evaluate business bank accounts.
Do you need to process customer transactions?
Banks like Chase offer credit card processing as an add-on feature to their services. If you are using an online bank, you might want one that integrates with Stripe, Square, or other payment processors. The capability to process customer transactions is one element that distinguishes a business bank account from a personal bank account.
Do you want to earn interest on your balance?
Several banks on our list offer high-yield savings accounts, which is a benefit for small businesses, start-ups, and any business that wants to earn free money from their balance. You might also consider an interest-bearing checking account like Bluevine, which pays interest on your checking balance.
Business Checking vs. Money Market Account
A money market account is an interest-bearing account designed to hold money that you may need to access in the short term. Some money market accounts offer higher APYs than other savings accounts. A money market account often has limits on the number of fee-free withdrawals per month.
Most business owners will want to open a free business checking account and link it to a money market account to earn interest on cash reserves.
What You Need to Open a Small Business Checking Account
You don’t always need an Employer Identification Number (EIN) to open a business checking account, but it helps keep your business and personal finances separate. If you have an EIN, use it instead of your Social Security number.
Freelancers and sole proprietors can usually open an account with just their SSN. If you operate under a DBA, you’ll need to show your business name registration or certificate.
LLCs must provide formation documents and an EIN. Partnerships typically need a partnership agreement along with the business name registration.
Most banks also ask for your business address, phone number, email, and a minimum opening deposit if required. You can open an account online or visit a branch, depending on the bank.
Frequently Asked Questions
What are the potential fees associated with your business checking accounts?
Some business checking accounts have monthly fees that you can waive by meeting specific requirements. You may also pay ATM fees, fees for cash deposits, and fees for wire transfers or international transactions.
Read the fine print or speak to a personal banker to choose the account that’s right for you.
Can you open a business checking account with no credit check?
Most banks and credit unions will allow you to open a business checking account with no credit check. By maintaining a positive balance in your account, you can build your business credit. A credit check may be required for business loans, lines of credit, or “net” terms with vendors.
What are the most important features of business checking accounts?
Most business owners are looking for business checking with no ATM fees and no monthly fee or easy ways to waive the monthly fee. Beyond that, consider the type and number of transactions you complete monthly, whether you need payment processing capabilities, and if you want a linked savings account to earn interest.
What banks offer free business checking accounts?
Many online and traditional banks offer free business checking or ways to waive the monthly fee. The list above describes 10 of our favorite options in free business checking.
