6 Best Business Checking Accounts For Entrepreneurs
A business checking account helps you keep your work and personal finances separate. Here are the 6 best business checking accounts.

If you own or are thinking about starting a small business, you absolutely need to have a small business checking account. If you don’t, you could be putting yourself and your business at risk.

When running a small business, you will have a lot of different things to worry about than you would as an individual using a personal checking account. First, you have to ensure your business finances are separate from your personal finances. If they’re not, it could open up risk in many ways—including liability for business debts and lawsuits, or issues when you go to file your taxes.

In this article, I’ll share our picks for the best business checking accounts, as well as some key factors to consider before opening one.

Let’s get started.

The best business checking accounts

BlueVine

6 Of The Best Business Checking Accounts For Entrepreneurs - BlueVine

BlueVine is an online business bank focused on small businesses. They eliminate most common business checking fees so you can keep more of your money in your business. 

With BlueVine, you get an online business checking account with no monthly fees, and no incoming wire fees, NSF fees, or ATM fees, either. Plus, if you deposit just $1 in your BlueVine checking account, they’ll pay you 1.00% APY on balances up to $100,000. 

A BlueVine online business checking account comes with the following small-business-friendly features:

  • No fees.
  • Apply online in 60 seconds.
  • Mobile banking app.

With the BlueVine app, you can deposit checks using a photo, plus you can arrange payments to vendors using ACH transfers, wire transfers, or checks. Though BlueVine has only been around since 2013, they have a strong track record of helping small businesses succeed. 

A few more things you’ll get with BlueVine:

  • Mobile check deposit.
  • Free debit Mastercard for purchases.
  • ACH vendor payments.
  • Send a check.
  • Two checkbooks included with your account.
  • A+ rating with the BBB.
  • FDIC insured deposits.

Learn more about BlueVine or read our full review 

Azlo

5 Of The Best Business Checking Accounts For Entrepreneurs - Azlo

With Azlo, you get completely fee-free banking, including no-fee overdrafts and no minimum opening balance. One of the best features for small businesses is Azlo’s customizable invoices. You can sign up and start invoicing clients almost immediately.

Other benefits you’ll get with an Azlo account include:

  • Access to fee-free withdrawals at more than 55,000 ATMs.
  • Fee-free withdrawals at out-of-network ATMs, although third-party fees aren’t covered.
  • Paper checks can be cut and mailed if needed.
  • Debit card for easy in-person payments.
  • Remote deposit.
  • Tools and resources for small business owners.

Using Azlo’s electronic transfer service, you can take advantage of the following features as well:

  • Transfer funds to and from your outside accounts for free.
  • Free incoming international and domestic wires.
  • Schedule electronic payments in advance.
  • Free ACH transfers.

Azlo also features integrations with a variety of electronic transfer services, including Kabbage, Stripe, Square, and PayPal. This allows you to manage all your electronic transfers in one place. 

Learn more about Azlo’s business bank account or read our full review.

Bank Novo

5 Of The Best Business Checking Accounts For Entrepreneurs - Novo

Another option for simple business checking is Bank Novo; you won’t pay any fees for your Bank Novo business account and businesses have access to members-only perks discounts on business tools like Google Cloud, Zendesk, Hubspot, Stripe, and Salesforce Essentials.

There is a $50 minimum opening deposit requirement, but after that, you won’t be required to keep a monthly balance to maintain the account.

A few standout perks that really stand out in my mind:

  • No monthly maintenance fee.
  • No minimum balance requirement.
  • Free transfers and mailed checks.
  • Free ATM including waiving and refunding fees you accrue from lenders that own the ATM you use.

Bank Novo operates completely online, and aside from withdrawing cash, Bank Novo ensures you can do everything through your app. Not only can you apply for an account and get approval in minutes, but once accepted, you can login to your account through your favorite mobile device. Using the app, you can:

  • Transfer funds.
  • Deposit checks.
  • Pay bills.
  • Mail paper checks.
  • Access integrated business tools like Xero, Zapier, Slack, and TransferWise.

You also get free ACH transfers and incoming wires, and if you ever need to mail a check, Bank Novo does that for free as well.

Learn more about Bank Novo or read our full review.

Introducing Chase Business Complete BankingSM

Chase BusinessIf you’re looking for a little cash to go with your new business checking account; Introducing Chase Business Complete BankingSM has you covered.  To earn a $300 cash bonus, you need to complete the following steps:

  • Open an Chase Total Business Checking Account.
  • Deposit a total of $2,000 in new money within 20 business days of account opening.
  • Maintain that balance for 60 days.
  • Complete five qualifying transactions within 60 days – debit card purchases, Chase QuickDepositSM, ACH (Credits), and wires (Credits and Debits).

Please note; there is a $15 month fee for this account and there are ways to waive it.

Some of the benefits of this business account are as follows:

  1. Unlimited electronic deposits.
  2. 100 transactions per month at no charge.
  3. $5,000 in cash deposits per statement cycle without an additional fee.
  4. Convenient access to 16,000 ATM’s and more than 4,700 branches.

Learn more about Introducing Chase Business Complete BankingSM or read our full review.

NorthOne Business Checking Account Review

6 Of The Best Business Checking Accounts For Entrepreneurs - NorthOne

A NorthOne Business Checking Account gives you all the benefits you’ll get with other business checking accounts. You’ll get easy online transfers, a debit card for local purchases, and mobile check deposit. 

But there are a couple of things that set NorthOne apart. You can set up sub-accounts to separate your business’s funds for payroll or tax purposes. You can also access help by chat or through a scheduled call with a representative if you need it.

And not only does NorthOne offer a robust mobile app, but they also offer web banking as well. This can help you manage your sub-accounts, pay bills, see all of your transactions, and export to Excel and Quickbooks. 

A NorthOne Business Checking Account includes the following benefits:

  • Open an account in only three minutes.
  • Mobile banking with an easy-to-use app.
  • Web banking.
  • Flat fee of $10 includes unlimited transactions and no hidden fees.
  • Send and receive ACH payments.
  • Unlimited debit card transactions.
  • Order extra debit cards for your team within the app.
  • Mobile check deposit

NorthOne Business Checking is built with the needs of small businesses and freelancers in mind. You’ll get these additional features:

  • Pull reports for each card on your account.
  • Easily attach receipts to transactions.
  • Expenses are automatically categorized.
  • No limits on viewing your account history.
  • Give read-only access to your accountant.
  • Easily report debit cards as lost or stolen.

Predictability makes a NorthOne Business Checking Account a great option for businesses. You’ll pay the same monthly fee with no transaction limits, making it easy to create and maintain your monthly budget.

Learn more about NorthOne Business Checking.

Radius Bank Tailored Checking

5 Of The Best Business Checking Accounts For Entrepreneurs - Radius Bank

Radius Bank Tailored Checking is Radius Bank’s new business checking account. Tailored Checking is specifically geared toward small business owners and individuals with side hustles, helping you earn money with unlimited penalty-free transactions.

As with its personal accounts, you’ll get fee-free checking and 1% cash back on every dollar you spend. You’ll also earn interest on any other checking and savings accounts you open with them.

A Tailored Checking account includes the following benefits:

  • Easy, paperless online application that can be completed in 10 minutes or less; no documents needed.
  • Unlimited 1% cash back on all debit card purchases.
  • For a limited time, get 1.50% cash back on every dollar you spend in the health, food, entertainment, and social good categories.
  • Earn 0.10% APY on your account balance.
  • Fee-free ATM visits, including rebates on third-party ATM fees worldwide.
  • The $10 monthly maintenance fee will be waived after your balance reaches $5,000.
  • $100 opening balance requirement.
  • No minimum monthly balance required.

As a business owner, you’ll have access to a variety of convenient features. You can easily add employees to your bank account, allowing them to make deposits and have their own debit cards to make ized business purchases.

In addition to the above benefits, you can also enjoy these features:

  • Free membership to Autobooks, which offers small business banking tools.
  • ACH debit and credit origination.
  • Professional invoicing.
  • Remote deposit capture.
  • ACH debit/block filters.
  • Merchant services.
  • Free bill pay.
  • E-payment solutions.
  • Reporting and accounting integrations.

If you’re a business owner looking for a business checking account that keeps fees low while giving you rewards and interest, Radius Tailored Checking is definitely a great option.

Learn more about Radius Bank Tailored Checking or read our full review

Other options

This is not an exhaustive list. Larger banks like Bank of America, Wells Fargo, and Chase offer excellent options for business checking. Many of them, however, require larger balances and have a fee structure that rewards more established businesses, which is why I narrowed our picks down to these six.

In addition to a checking account, your business will likely also need a business credit card. Even if you don’t use it very often, it will come in handy while you’re traveling or during those months when you’re struggling with cash flow. Here are a couple of business-friendly credit cards I recommend.

Capital One® Spark® Cash for Business

Spend $4,500 in your first three months, and this card will earn you $500 cash back. The way I see it, that makes this a great card for covering those initial expenses associated with building or growing your business.

The Capital One Spark Cash for Business card comes with an annual fee of $0 intro for first year; $95 after that. With this plan, you’ll earn 2% unlimited cash back on every dollar you spend.

Don’t want an annual fee? No problem. Choose the Capital One Spark Cash Select for Business card and you’ll pay no annual fee while still earning 1.5% cash back on every dollar you spend.

Ink Business Cash® Credit Card

Apply Now On the Secure Website

In A Nutshell

The Ink Business Cash® Credit Card is an excellent card for any small business.  From a big up front bonus to an all-around excellent rewards program, cardholders can cash in on rewards without the worry of an annual fee.

Read review
Credit score requirements: Credit Score requirements are based on Money Under 30’s own research of approval rates; meeting the minimum score will give you the best chance to be approved for the credit card of your choice. If you don’t know your credit score, use our free credit score estimator tool to get a better idea of which cards you’ll qualify for. *Money Under 30 uses a [FICO 8] [Vantage 3.0] score, which is one of many different types of credit scores. *A creditor may use a different score when deciding whether to approve you for credit.
Poor 500-599
Fair 600-699
Good 700-749
Excellent 750-850

What we like:

  • $750 cash back bonus after spending $7,500 in the first three months of card ownership

  • 5% cash back on the first $25,000 spent on office supplies, internet, cable and phone service purchases each account anniversary year

  • 0% intro APR for 12 months from account opening on purchases, then a variable APR of 13.24% – 19.24%

  • Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
  • Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
  • Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
  • Earn 1% cash back on all other card purchases with no limit to the amount you can earn
  • 0% introductory APR for 12 months on purchases
  • Employee cards at no additional cost
  • No Annual Fee
Annual Fee
$0
Regular APR
13.24% - 19.24% Variable
Intro APR
Intro APR Purchases 0% Intro APR on Purchases for 12 months , 12 months
Intro APR Balance Transfers N/A , 0 months

Apply Now >>

The Ink Business Cash® Credit Card is a great rewards credit card for entrepreneurs and small business owners that comes with an enticing welcome bonus:  $750 when you spend $7,500 in the first three months. Plus with a $0 annual fee, this is a card that’s easy on your bottom line.

The Ink Business Cash® Credit Card also has tons of business-related benefits and perks. The card features an impressive 5% cash back on the first $25,000 spent in combined purchases when you spend in those categories, so your earnings can add up fast if you purchase or pay for a lot of supplies including phone, internet, and cable each month. Additional cards for employees come at no extra cost, and the card comes with fraud protection, purchase protection, and personalized account alerts. 

The card also features 2% cash back on the first $25,000 spent in combined purchases on gas and restaurants, which can come in handy if you or your employees are frequently on the road. Finally, you’ll earn an unlimited 1% cash back on all other purchases, so you’ll keep earning rewards no matter what you use the card for.

Ink Business Unlimited® Credit Card

Apply Now On the Secure Website

In A Nutshell

The Ink Business Unlimited® Credit Card opens up with a $750 cash bonus after spending $7,500 in the first three months from account opening; includes 1.5% cash back on all purchases and charges no annual fee.

Read review
Credit score requirements: Credit Score requirements are based on Money Under 30’s own research of approval rates; meeting the minimum score will give you the best chance to be approved for the credit card of your choice. If you don’t know your credit score, use our free credit score estimator tool to get a better idea of which cards you’ll qualify for. *Money Under 30 uses a [FICO 8] [Vantage 3.0] score, which is one of many different types of credit scores. *A creditor may use a different score when deciding whether to approve you for credit.
Poor 500-599
Fair 600-699
Good 700-749
Excellent 750-850

What we like:

  • Earn $750 in bonus cash after spending $7,500 in the first three months of account opening

  • Earn an unlimited 1.5% cash back on all purchases

  • No annual fee

  • Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase made for your business
  • 0% introductory APR for 12 months on purchases
  • Employee cards at no additional cost
  • No Annual Fee
Annual Fee
$0
Regular APR
13.24% - 19.24% Variable
Intro APR
Intro APR Purchases 0% Intro APR on Purchases for 12 Months , 12 months
Intro APR Balance Transfers N/A , 0 months

Apply Now >>

The Ink Business Unlimited® Credit Card is another great rewards card for entrepreneurs that can help you earn rewards and get cash back from everyday business expenses. Plus, if you spend $7,500 in the first three months, you’ll also be eligible for a hefty $750 welcome bonus, which makes the card worth signing up for in and of itself.

The Ink Business Unlimited® Credit Card doesn’t have any rewards categories, but instead features a competitive 1.5% cash back across the board with unlimited earning potential. This means that no matter what your business expenses are or how much you spend, you’ll always be earning cash back.

The card comes with plenty of other perks to entice small business owners and entrepreneurs, including free cards for employees, fraud protection, and purchase protection.  

Key factors to consider with a business checking account

Before running out and signing up for a business checking account, you need to understand a few key things. First, when you see an advertisement for a “free” business checking account, know that it’s not entirely “free.”

In order for these banks to stay in business, they have to make money off of you somehow, right? So what you’ll normally see with business checking accounts are two things:

  1. You probably won’t earn interest on your balance
  2. Slightly hidden fees

Banks will typically not pay you interest, but they’ll earn some kind of interest off your money—that’s just how banking works.

With regard to fees, make sure you read every fine detail before signing up so you know exactly what fees you’ll be charged and how you can reduce them or avoid them altogether.

Fees

Monthly transactions

With a business checking account, most banks will put a limit on the number of transactions you make every month.

Seems kind of backward, doesn’t it? With a personal checking account, you’re often encouraged to make more transactions, not less.

Limits placed on business checking account transactions also don’t apply to just debit card charges. It usually includes things like deposits (both check and cash), withdrawals, checks written, and payments you make electronically.

Most banks will put a limit of up to 500 transactions, depending on the bank. Some can be as low as 200. On average, though, you typically won’t see a limit below 100 transactions per month. Expect the fees to be as high as 50 cents per transaction over the stated limit.

That’s like a 25% surcharge on a $2.50 coffee.

Balance and deposit requirements

Some banks will charge you a fee if your business checking account’s balance falls below a certain threshold. It’s calculated on an average, by day, so as long as you’re maintaining a certain level of money in the account you should be fine.

A bank may also require your initial deposit to be a certain amount. If you don’t have that on hand, it may disqualify you from opening the account at all.

On the flip side, some banks will actually reward you for having a high balance, much like they do with a personal checking or savings account (typically a higher interest rate). With checking accounts, you may get a higher interest rate or even a reduction (or elimination) of some of these other silly fees by carrying a large balance.

If you don’t see anything in the fine print about high-balance bonuses, then contact a service representative to see if they’re willing to give you a break if you agree to keep your balances above a certain amount.

Maintenance fee

Ah, the good old monthly maintenance fee. Usually, banks will require this if you or the product you chose aren’t very profitable for them. An example might be if you don’t bank very often—they may not be able to collect transaction fees from you, so they make it up with a fee.

This type of fee doesn’t exist with every business checking account, but this fee can vary pretty widely in the cost. On average, it’s usually under $10, but in some cases, it can be as high as $50.

Make sure you check to see if there’s a monthly maintenance fee before signing up. If there is, ask to have it waived. If they won’t waive it, I would urge you to look for another account elsewhere.

Bank location and size

You don’t tend to see a lot of online-only business checking accounts. This is for a good reason. Banks want to develop a relationship with their business-owner account holders. Once they have a good relationship with you, they can offer other products, like small business loans, business credit cards, and other premium products.

This is an important factor for you to consider as well. If you don’t want to deal with someone face-to-face, you may be better off finding an online-only bank. But if you would prefer the personal touch of a small business specialist, then ensuring your bank has a physical branch close to you is critical.

This may also mean having a nearby ATM for you to take out cash. If you choose an online-only bank, your options to get cash out may be limited (unless you want to pay a higher fee).

The other thing to think about is how large the bank is. Are you choosing a small, possibly less-credible bank because of their better offer? If so, it’s okay, but be prepared for more limited options and slightly reduced service.

Summary

It shouldn’t matter if you’re an established business or a brand new blog. If you have a business, you should have a business checking account. Every business is going to have different needs, so just be sure to do your research before signing up for an account. Otherwise, you may end up with something that doesn’t suit your business model.

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About the

Chris Muller picture
Total Articles: 167
Chris has an MBA with a focus in advanced investments and has been writing about all things personal finance since 2015. He’s also built and run a digital marketing agency, focusing on content marketing, copywriting, and SEO, since 2016. You can connect with Chris on Twitter.

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