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16 Best Small-Business Checking Accounts of 2021


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Business banking is a little different from consumer banking. Our master list of the best online banks around is surprisingly short on business checking accounts with no monthly maintenance fees, minimum balance requirements, or monthly transaction limits.

Also, most business bank accounts impose transaction limits and demand hefty minimum balances to waive high monthly maintenance fees (also known as monthly service fees).

That puts microbusiness owners and solopreneurs at a distinct disadvantage. And it’s a stark contrast to the consumer banking world, where the best free consumer checking accounts cater to individuals and joint account holders who aren’t swimming in cash.

But the picture isn’t uniformly bleak. Once you know where to look, you’ll find ample small-business checking options to choose from.

Best Small-Business Checking Accounts

The best small-business checking accounts have low minimum balance requirements to waive their monthly maintenance fees (or no monthly service fees at all) and enough fringe benefits to keep things interesting for account holders.

Some pay interest as well. All are FDIC-insured. Read on for our list of the best business checking accounts available right now.

1. Chase Business Complete Checking

$300 Bonus for New Account Holders Who Open With Qualifying Activities

Chase Bank Logo

Chase Business Complete Checking has a category-leading bonus opportunity for new account holders: $300 when you open a new account online or in-person (with no minimum deposit required) and complete the required qualifying activities.

Moving forward, you can avoid the $15 monthly maintenance fee in multiple ways, including maintaining a minimum daily balance or making qualifying purchases on your Chase Ink Business credit card.

Plus, enjoy unlimited electronic deposits, ACH, and mobile check deposits via Chase QuickDeposit.

Chase has ATMs and branches in the following states: AZ, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, KY, LA, MA, MI, NV, NJ, NY, OH, OK, OR, TX, UT, WA, WV, WI. This offer is available online nationwide, except for residents of AK, HI, and PR.

  • Minimum Deposit and Balance Requirements: There’s no minimum deposit or ongoing balance requirement.
  • Yield: None.
  • Rewards and Incentives: Open a new Chase Business Complete Checking account and complete qualifying activities to earn a $300 bonus. This offer expires Oct. 21, 2021.
  • Possible Fees: Chase Bank offers multiple ways to waive the $15 monthly maintenance fee.

Apply Now


2. Axos Bank Basic Business Checking

Earn a $100 Account Opening Bonus With Qualifying Activities

Axos Bank Logo

Axos Bank Basic Business Checking is a fantastic alternative to Axos Bank Business Interest Checking (which we cover further down).

This free business checking account has no monthly maintenance fee, unlimited ATM fee reimbursements, a fantastic welcome bonus for both newly incorporated businesses and long-incorporated businesses that open accounts by the stated offer end date, and a nice remote deposit feature you can use just about anywhere.

Apply 100% online (no paper forms required) and get your first 50 checks free. Plus, enjoy paperless statements once you’re signed up.

  • Minimum Deposit and Balance Requirements: The minimum opening deposit is $1,000, but there’s no monthly service fee.
  • Yield: None.
  • Rewards and Incentives: Here’s how to earn the $100 welcome bonus: Apply for your new Axos Bank Basic Business Checking account, then maintain an average daily balance of at least $5,000 during the first three months (new funds only). This offer is subject to change or revocation at any time at Axos Bank’s sole discretion.
  • Overdraft Options: Axos Bank customers can opt into an overdraft line of credit that covers overdrafts the bank would typically return unpaid. The interest rate is variable but comparable to a high-interest credit card, and payment of at least 5% of the balance (or $25, whichever is greater) is due each statement cycle.
  • Possible Fees: $0.30 per item processed after the first 200 items each month.

For more information, read our Axos Bank review.

Learn More


3. Lili Standard

Totally Free Checking With Automatic Tax Savings and Financial Insights

Lili Logo

The Lili Standard account is a truly free, all-in-one checking solution that’s built with freelancers in mind.

In practice, it appeals to a much broader audience: side hustlers and gig workers supplementing W-2 income, established solo professionals (one-person businesses), and full-time freelancers. With Lili Standard, these folks don’t need separate bank accounts for personal and business needs — just Lili.

Lili Standard’s signature benefits include a subaccount that simplifies tax savings, early payday for qualifying account holders, instant expense categorization, and a powerful cache of financial insights and expense management tools to help you spend (and save) smarter.

Plus, its “emergency bucket” feature enables savings transfers as small as $1 a day. It all adds up to one of the best business checking accounts around.

  • Minimum Deposit and Balance Requirements: Lili has no account fees or minimums.
  • Yield: Lili Standard doesn’t pay interest. Check back often for the latest offers.
  • Rewards and Incentives: Lili’s referral program pays $50 per successful referral to Lili and promises a bonus of $1,000 when you deliver 10 successful referrals. Plus, Lili makes it easy to set aside funds earmarked for tax payments, has helpful expense management and categorization tools (like quarterly expense reports), promises an early payday for account holders with direct deposit (up to two days early), enables cash deposit at more than 90,000 locations around the U.S., and delivers real-time alerts about transactions and other account activities.
  • Possible Fees: Lili Standard charges no account fees.

Learn More


4. Hatch Business Checking Account

Hatch Card

Hatch is a free business banking platform that packs a tremendous amount of value into a lean, flexible account outfitted with a clutch Mastercard debit card. Take a few minutes to apply, then take advantage of these can’t-miss benefits:

  • Up to 5% cash back on eligible purchases, including car rentals (5% back), hotels and restaurants (4% back), and gas (1% back).
  • Exclusive Hatch Perks — discounts on the tools and services you need to run your business, like Yelp, Square, QuickBooks, and Zenefits
  • Free, flexible ACH transfers
  • Seamless Apple Pay and Google Pay integrations

And Hatch has virtually no fees — no NSF, card replacement, or minimum balance fees.

  • Minimum Deposit and Balance Requirements: There’s no minimum deposit or monthly minimum balance requirement.
  • Yield: Hatch doesn’t pay interest on balances, but select transactions earn up to 5% cash back.
  • Rewards and Incentives: On top of 5% cash back, enjoy perks that can reduce the cost of the business products and services you need to succeed, fee-free access to 55,000 ATMs nationwide, and Mastercard Enhanced Debit benefits (including ID theft protection, car rental insurance, and Mastercard Airport Concierge).
  • Possible Fees: Hatch doesn’t charge NSF fees, monthly minimum balance fees, ACH fees, or card replacement fees.

Apply Now


5. Lili Pro

Premium Subscription Featuring Advanced Banking, Tax Management Features & More for Professional Freelancers

Lili Pro Card 01

Lili Pro builds on the already incredible value of Lili Standard with a premium subscription platform built for professional freelancers. It boasts all the features and capabilities Lili Standard users know and love, plus:

  • A premium Visa business debit card with increased transaction allowances and cash-back rewards at over 14,000 merchants
  • Yields up to 1% on eligible emergency savings balances
  • Free overdraft up to $200 with no extra fees
  • Unlimited invoicing that allows account holders to send and manage invoices from their Lili Pro accounts and get paid directly into Lili
  • Advanced expense management, including custom categorization and percentage allocations for work and life expenses
  • Automatic set-aside savings for taxes
  • Access to more than 38,000 fee-free ATMs
  • No hidden fees

All this for just $4.99 per month.

  • Minimum Deposit and Balance Requirements: Lili Pro does not impose minimum deposit or ongoing balance requirements.
  • Yield: Emergency savings balances held with Lili Pro earn up to 1% APY.
  • Rewards and Incentives: Lili Pro has the same great referral program as Lili Standard. See terms and conditions for complete details.
  • Possible Fees: Lili Pro carries a low monthly subscription fee of $4.99. Lili Pro has no hidden fees.

Learn More


6. Brex Cash

Up to 50,000 Bonus Points After Account Approval and Qualifying Spend; No Fees or Minimums

Brex Logo

Brex Cash is a user-friendly cash account for growing businesses. With no fees or minimums, a generous welcome offer and ongoing rewards program, and an expansive lineup of value-added perks worth $150,000, it’s difficult to find fault here.

Take full advantage of the powerful mobile app and don’t miss the super-simple advance payment scheduling tools, either.

  • Minimum Deposit and Balance Requirements: Brex Cash has no account fees or minimums.
  • Yield: None.
  • Rewards and Incentives: Earn 30,000 bonus Brex Rewards points after opening your account and spending $3,500 on purchases within 30 days, or earn 50,000 bonus points after opening your account and spending $9,000 on purchases within 30 days. Plus, earn points on every purchase and enjoy perks worth $150,000.
  • Possible Fees: Brex Cash has no account fees.

Learn More

*Brex Treasury LLC is not a bank; Brex Cash is not a bank account.


7. Novo Powerfully Simple Business Banking

Thousands of Dollars in Exclusive Perks Available to Account Holders

Novo Bank Logo

Novo’s Powerfully Simple Business Banking product is another maintenance fee-free option for small-business owners and self-employed people (sole proprietors).

An easy application process, nice account opening bonus, robust mobile features, integrations with other useful small-business tools, and virtually no fees all count as standouts here.

If you’re done with branch-based business banking, put this free business checking account from Novo at or near the top of your list. It’s one of the best business checking accounts for smaller operators, period.

  • Minimum Deposit and Balance Requirements: The account opening minimum is $50, but there’s no ongoing minimum balance requirement and no monthly maintenance fee.
  • Yield: None.
  • Rewards and Incentives:  Enjoy thousands of dollars in exclusive perks — see Novo’s website for details.
  • Overdraft Options: If Novo chooses to honor an overdraft, there’s a $27 insufficient funds fee per item. The returned-item fee is also $27 per item.
  • Possible Fees: Other than its insufficient funds and returned-item fees, Novo has virtually no fees.

Learn More


8. LendingClub Bank Tailored Checking

Up to 1% Cash Back on Signature Debit Card Transactions for Qualifying Customers; 0.10% APY on Balances Above $5,000

Lending Club Logo

LendingClub Bank Tailored Checking doesn’t have the best yield in the business checking space, but 0.10% APY on balances over $5,000 is better than nothing.

Pair that yield with no limits or fees on transactions — ever — and you have an excellent account for active businesses able to keep some cash on hand.

Mobile check deposits and a powerful debit card app (which includes a card-locking feature) simplify banking on the go.

  • Minimum Deposit and Balance Requirements: The minimum opening deposit is $100. The $10 monthly maintenance fee is waived with a minimum daily balance of $5,000 or more.
  • Yield: 0.10% APY on balances over $5,000.
  • Rewards and Incentives: After your Tailored Checking account has been open for at least 30 days, keep an average balance of $5,000 or more in the account to qualify to earn up to 1% cash back on signature-based debit card purchases online and in-store. Cash back is automatically credited to your Tailored Checking account at the end of the month following the earning period. Plus, enjoy unlimited ATM fee rebates.
  • Overdraft Options: If you opt in to overdraft protection, there’s a $5 daily overdraft fee as long as your account remains overdrawn (up to 30 days). Fees begin accruing on the fifth calendar day after the first overdraft item hits.
  • Possible Fees: LendingClub Bank charges between $10 and $40 for wire transfers, depending on origin and destination.

Learn More


9. NorthOne Business Banking

Unlimited Payments, Deposits, Transfers & Debit Card Usage

Northone Logo 11 2 20

NorthOne Business Banking is a refreshingly simple business banking platform that prides itself on “radically transparent pricing.”

Just $10 per month unlocks its full slate of features, including unlimited payments, transfers, deposits, and debit card transactions; more than 300,000 in-network ATMs; mobile check deposit (and a slew of other mobile-friendly features); and unlimited subaccounts for payroll, taxes, and more.

Plus, for a limited time, NorthOne is offering an exclusive deal for Money Crashers readers who sign up for a new account: one month of free business banking when you sign up using the link below.

  • Minimum Deposit and Balance Requirements: The minimum opening deposit is $50.
  • Yield: None.
  • Rewards and Incentives: NorthOne Business Banking is chock-full of useful features, including more than 300,000 ATMs in-network, unlimited subaccounts for taxes and payroll (and other functions), mobile check deposit, and unlimited number of transactions.
  • Overdraft Options: NorthOne charges a one-time overdraft fee when your account balance drops below $0. See pricing terms for more details.
  • Possible Fees: The monthly maintenance fee is $10. NorthOne may also charge for wire transfers, overdrafts, NSF transactions, and ACH/PAD returns.

Learn More


10. Axos Bank Business Interest Checking

Up to 0.81% APY on Eligible Balances

Axos Bank Logo

Axos Bank Business Interest Checking is the highest-yielding small-business checking account on this list — paying up to 0.81% annual percentage yield (APY) on qualifying balances.

Throw in a low minimum opening deposit requirement, and you’ve got a solid online business checking account for business owners looking to earn a real return on working capital.

  • Minimum Deposit and Balance Requirements: The minimum opening deposit is $100. You must maintain a $5,000 minimum average daily balance to waive the $10 monthly maintenance fee.
  • Yield: Earn 0.81% APY on balances up to $49,999.999. Earn 0.50% APY on balances between $50,000 and $249,999.999 and 0.20% on all balances above $250,000.
  • Rewards and Incentives: Enjoy unlimited domestic ATM fee reimbursements and 50 free checks when you open your account.
  • Overdraft Options: Axos Bank customers can opt into an overdraft line of credit that covers overdrafts the bank would typically return unpaid. The interest rate is variable but comparable to a high-interest credit card, and payment of at least 5% of the balance (or $25, whichever is greater) is due each statement cycle.
  • Possible Fees: $0.50 per item processed after the first 50 items each month.

For more information, read our Axos Bank review.

Learn More


11. BankProv Small Business Checking

No Deposit or Balance Requirements; Higher Deposit Insurance Limits Than FDIC-Only Accounts

New Project (4)

BankProv Small Business Checking is one of the best small-business starter accounts around. With no minimum deposit requirements or ongoing balance requirements and unlimited deposit transactions per month, it’s perfect for entrepreneurs looking to keep overhead low.

  • Minimum Deposit and Balance Requirements: There’s no minimum opening deposit or ongoing balance requirement.
  • Yield: None.
  • Rewards and Incentives: Enjoy 100% DIF insurance coverage — boosting your deposit insurance protection above the standard FDIC coverage limit.
  • Possible Fees: BankProv charges a per-item fee for ACH transfers after the first 50 each month. The monthly maintenance fee is $50, cut to $25 with a minimum daily balance of $100,000 and waived entirely with a minimum daily balance of $250,000. See terms for a complete accounting of possible fees.

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12. Citizens Bank Clearly Better Business Checking

No Monthly Maintenance Fees, Ever

Citizens Bank Logo

Citizens Bank Clearly Better Business Checking is one of the only business checking accounts that never charge a monthly maintenance fee. That’s excellent news for business owners working on thin margins.

This account also boasts a relatively high monthly limit for free transactions and generous overdraft options.

On the negative side of the ledger, it doesn’t pay interest and isn’t available in all areas — Citizens Bank’s trade area is limited to the East Coast. But if you do live in an area served by Citizens Bank, you can hardly do better.

  • Minimum Deposit and Balance Requirements: There’s no minimum opening deposit or ongoing balance requirement.
  • Yield: None.
  • Rewards and Incentives: None.
  • Overdraft Options: Citizens Bank offers two overdraft options, both opt-in: an overdraft line of credit and overdraft savings transfer program. Both charge $12 for each day an overdraft transfer occurs, regardless of the number of transfers on that day. The savings transfer option is otherwise free, but the line of credit costs $30 per year. The required credit line payment is the greater of $20 or 2% of the balance.
  • Possible Fees: $0.50 per item above the 200 monthly transaction limit.

Learn More


13. NBKC Business Checking Account

Virtually No Fees and No Balance Requirements

Nbkc bank

The NBKC’s business checking account has no balance requirements, no monthly maintenance fees, and no transaction fees.

As part of the MoneyPass ATM network, it offers fee-free withdrawals at more than 32,000 ATMs in the U.S. and Puerto Rico.

And its simple Desktop Deposit feature — with added support from a robust mobile banking app — makes it easy to deposit checks remotely.

  • Minimum Deposit and Balance Requirements: There’s no minimum balance requirement.
  • Yield: None.
  • Rewards and Incentives: Get up to $12 in monthly refunds for ATM fees charged by any other banks worldwide, plus mobile-friendly features like bill pay.
  • Overdraft Options: NBKC offers a courtesy overdraft sweep option. See account disclosures for details on how this works.
  • Possible Fees: Other than domestic and international wire fees — $5 to send a domestic wire and $45 to send or receive an international wire — NBKC has virtually no fees.

Learn More


14. Huntington Bank Unlimited Business Checking

Access to Exclusive, Potentially Valuable Business Perks

huntington bank logo

Huntington Bank Unlimited Business Checking is for established businesses with relatively large cash stockpiles and relatively frequent transaction needs.

Other than a $10,000 monthly limit on free cash deposits (after which a fee applies), there’s no limit on transaction frequency.

And customers can select one from a menu of exclusive money-saving perks, such as discounts on payroll services.

  • Minimum Deposit and Balance Requirements: Avoid the $20 monthly maintenance fee with $10,000 or more in combined average deposits across all eligible accounts. See Huntington Bank’s website for additional details.
  • Yield: None.
  • Rewards and Incentives: Choose from one of several exclusive perks or bonus services, such as 10% off Paychex payroll services.
  • Overdraft Options: Huntington Bank offers two opt-in overdraft protection options: an overdraft protection account (with a transfer fee but no annual fee) or deposit-to-deposit overdraft protection (which does charge an annual fee but no transfer fee).
  • Possible Fees: $0.30 fee for each $100 in cash deposits above the $10,000 monthly limit. Other fees may apply.

Learn More


15. TIAA Bank Business Checking

High Monthly Transaction Limit

Tiaa Bank Logo

TIAA Bank’s business checking account boasts low- or no-cost overdraft protection options and a robust suite of mobile-friendly features.

It’s ideal for customers who can make the $1,500 minimum opening deposit and keep enough cash on hand ($5,000 or more) to waive the monthly maintenance fee

A reasonably high monthly transaction limit appeals to businesses with active cash flows.

  • Minimum Deposit and Balance Requirements: The minimum opening deposit is $1,500. You’ll avoid the $14.95 monthly maintenance fee if you have a minimum daily balance of $5,000 or more.
  • Yield: None.
  • Rewards and Incentives: None.
  • Overdraft Options: There’s no monthly or per-item fee for TIAA Bank’s overdraft protection services, which include money market transfers (with a qualifying linked account) and a credit line. If you enroll in an overdraft protection line of credit, the late payment fee is $25.
  • Possible Fees: $0.25 per item above the 200 monthly transaction limit; $0.50 per item above the 10 monthly online bill payments limit.

Learn More


16. U.S. Bank Silver Business Checking Package

No Monthly Maintenance Fee; 50% Discount on Your First Check Order

The U.S. Bank Silver Business Checking Package is one of the few maintenance-fee-free small-business checking accounts offered by a major national bank. 

Designed for sole proprietors, high-growth startups, and established mom-and-pop businesses alike, it’s ideal for entities with relatively low transaction volumes and straightforward money management needs. 

Highlights include 25 free cash deposits each statement cycle, deep discounts on fees for personal banking through U.S. Bank’s Gold Personal Package account, and overdraft protection with a Business Reserve Line. 

  • Minimum Deposit and Balance Requirements: The minimum opening deposit is $100. There’s no ongoing monthly balance requirement.
  • Yield: None.
  • Rewards and Incentives: Get 50% off your first check order up to $50. Plus, get 50% off the monthly maintenance fee on a U.S. Bank Gold Personal Package (personal bank account).
  • Overdraft Options: Open a Business Reserve Line of credit with U.S. Bank and link it to your U.S. Bank Silver Business Checking Package for overdraft protection. All business credit lines are subject to credit approval and fees may apply on overdraft transfers. Speak with a banker for more information.
  • Possible Fees: $0.50 per item above the 125 free monthly transaction limit. The first 25 cash deposits each month are free at U.S. Bank branch locations or ATMs.

Learn More


Final Word

These small-business checking accounts aren’t always the stars of the show at their respective online banking institutions.

Most of these banks offer multiple personal and business deposit accounts. Several make our lists of banks with the best CD rates and the best money market rates, and some offer enticing high-yield savings accounts to boot.

So even if you come for the low-cost small-business checking, you could find yourself staying for more. There’s something to be said for doing all your banking under one roof — and your bank certainly won’t mind.

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