Best Business Banking of

How we Chose the Best Business Checking Accounts

Often one of the first decisions a small business owner is tasked with is choosing the right business banking relationship—and it’s an important one.

A business checking account is essential for all businesses, including freelancers, limited liability companies (LLC), sole proprietors, partnerships and corporations. Having a separate business checking account draws a clear line between your personal and business finances, streamlines recordkeeping and makes things easier for accounting and filing taxes. A business checking account also helps protect your personal assets if your business is sued or targeted by debt collectors.

Whether you’re starting a new business or looking to level up an existing business, you’ve come to the right place. From the criteria we used to determine the best business checking accounts to frequently asked questions and advice from the pros, we’ll help you cut through the noise and make a well-informed decision.

Our Criteria

After exhaustive research, we’ve rounded up our picks for the best business checking accounts. But how did we get here? Keep reading for a look at the exact criteria we used to rank the companies featured on this page.

Fees & Benefits

First, we look at the various fees that are associated with a business checking account. Since business account fees can be higher than fees for personal accounts, this is an important factor in choosing the right account for your needs. Here’s what we look for:

• Monthly Maintenance Fees: Brick-and-mortar banks often charge this fee for standard business checking accounts, however it can usually be waived by maintaining a minimum account balance or meeting other criteria.
• Cash Processing Fees: Some banks may assess a fee for making cash deposits, breaking larger bills into smaller bills or buying coins. If your business accepts cash payments, this is something to consider.
• Transaction Fees: Banks can limit how many transactions you make on a monthly basis, however this is more typical with brick-and-mortar banks than online banks. To avoid these fees, you’ll want to opt for a bank that offers unlimited monthly transactions.
• ATM Fees: This type of fee would apply if you need to use an ATM that is not in your bank’s network, for instance while traveling.

In addition to fees, we also look for unique benefits associated with the business checking account. Here are some common benefits that banks employ to sweeten the deal for new account holders:

• Introductory Offers: Many banks will offer a cash welcome bonus, statement credits or other incentives for new accounts, but it’s good to know that these are usually dependent on meeting specific qualifying criteria.
• Free or Discounted Checks: If you’ll need access to checks for paying vendors and contractors, look for a bank that not only offers this option, but gives free or discounted checks to new account holders. Brick-and-mortar banks are a go-to for checkbooks, but some online banks offer them as well. 
• Cash Back: Some accounts offer cash back on debit card spending; this is a great way to save money on startup costs and ongoing supplies for your business.
• Interest Rates: As an additional bonus, some banks offer a competitive interest rate for business checking accounts. This incentivizes you to maintain a minimum account balance or meet other criteria in order to earn free money on the cash you keep in your account.

Digital Features

Solid digital features are a must for today’s business bank accounts. From an easy-to-use app and online experience, to automated bill pay features and intuitive account monitoring and reporting tools, up-to-date tech is essential for efficiently managing the financial side of your business. 

Practical Features

This might be the less flashy side of a business checking account, but we promise—it’s just as important as the rest. Here are some of the practical features we look for when ranking the best business checking accounts:

• Accessibility: While many people bank online for a lot of transactions these days, it’s important to know whether a bank’s accessibility will work for you. For instance, if your business accepts cash, be sure there are convenient ATM locations and an easy way to make cash deposits and buy change as needed—preferably with no fee. In the past, this would require a brick-and-mortar bank, however some online banks also allow for fee-free cash deposits as well.
• Overdraft Protection: This feature can save you in a pinch, providing protection if your business checking account becomes overdrawn. Some banks charge a fee of up to $35 or more for this, while others charge a much lower fee, or no fee at all.
• Security: As hackers and scammers become more intelligent, extra security measures become more of a necessity for business checking accounts—specially if you’re leaning more toward an online business checking account over a traditional brick-and-mortar bank account. You’ll want to be sure there are extra measures in place like robust fraud protection and two-factor authentication.

Other Considerations

There are a few final considerations to make when selecting the right checking account for your business:

• FDIC Insured: As a rule, your business checking account should be insured by the Federal Deposit Insurance Corporation (FDIC), or if it’s a credit union, the National Credit Union Administration (NCUA). This ensures that if the bank holding your money fails for any reason, your funds (generally up to $250,000) are protected. Some banks even offer higher FDIC insurance coverage (for amounts in excess of $250,000) through Insured Cash Sweep networks. Do not use a bank that’s not insured by one of these two agencies.
• Customer Service: For online banks, be sure they offer around-the-clock customer service and a variety of contact methods, such as phone, email and/or online chat. Favor banks that are easy to get in touch with and prioritize the satisfaction of their customers. Some banks even offer dedicated specialists or customer service reps to ensure your needs and concerns are always addressed by a knowledgeable staff member.
• Scalability: For those wishing to start out solely with a business checking account, we encourage you to think about your future needs, and whether your bank of choice will be able to meet them. For instance, do they offer business credit cards or lines of credit? Is there an option for taking out a business loan at this bank? Do they offer integration with accounting and payroll software to make your life easier as your business grows?
• Reputation & Trustworthiness: Assessing each bank’s reputation and trustworthiness through a thorough examination of their ratings with the Better Business Bureau (BBB) and customer reviews on third-party platforms is a critical move. This gives peace of mind that the bank’s policies and values align with your own, so you can feel confident in your decision.

Disclaimer
Mercury
Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group and Column N.A., Members FDIC. The IO Card is issued by Patriot Bank, Member FDIC, pursuant to a license from Mastercard®️.

Mercury Treasury is offered by Mercury Advisory, LLC, an SEC-registered investment adviser. This communication does not constitute an offer to sell or the solicitation of any offer to purchase any security. Funds in Mercury Treasury are subject to investment risks, including possible loss of the principal invested, and past performance is not indicative of future results. Please see full disclosures at mercury.com/treasury. Mercury Advisory is a wholly-owned subsidiary of Mercury Technologies.

Mercury Treasury is not insured by the FDIC. Funds in Mercury Treasury are not deposits or other obligations of Choice Financial Group or Column N.A., and are not guaranteed by Choice Financial Group or Column N.A.

American Express*
APY Disclosure*
No interest is earned on account balances over $500,000. APY is subject to change at any time without notice before and after a Business Checking Account is opened. Effective October 12th, 2022.

Deposit Disclosure*
American Express is currently accepting applications from eligible U.S. businesses. Not all applicants will be approved for a Business Checking account. Select industries or businesses engaged in certain activities are currently ineligible, such as money service businesses, cryptocurrency, internet gambling businesses, and marijuana related businesses.

You can convert Membership Rewards®️ points into deposits directly into your American Express®️ Business Checking account.

• For new members: Points you earn, including the Welcome Bonus and from making Business Debit Card purchases, can be converted into deposits made directly into your Business Checking account. Terms apply.
• For Membership Rewards-enrolled Card holders: You can choose to convert points into deposits directly into your Business Checking account or use them the same way you always have – for travel, gift cards, and more. Terms apply.
• Participating partners and available rewards are subject to change without notice.

The following criteria must be met to earn the 30,000 Membership Rewards® points:
(1) Deposit a total of $5,000 or more in eligible deposits within 30 days of opening your first account, AND

• Eligible deposits are any deposits except deposits using our Redeem for Deposits feature, deposits from interest payments, and deposits from any other American Express Business Checking accounts.

(2) Maintain an average account balance of $5,000 for the next 60 days, AND
(3) Make 5 or more qualifying transactions within 60 days of opening your account.

• Qualifying transactions are mobile deposits, check deposits by mail, and electronic/online transactions including ACH, Wire, and Bill Payments. Business Debit Card transactions and deposits using our Redeem for Deposits feature are not qualifying transactions.

Found
Found is a financial technology company, not a bank. Business banking services are provided by Lead Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category. FDIC insurance only covers the failure of an FDIC-insured depository institution.

Ramp
Ramp Business Corporation is a financial technology company and is not a bank. Bank deposit services provided by First Internet Bank of Indiana, Member FDIC. Customers with a Ramp Business Account can use the ICS service provided by IntraFi Network LLC. Subject to the terms of the applicable ICS Deposit Placement Agreement, First Internet Bank of Indiana, member FDIC, will place deposits at FDIC-insured institutions through IntraFi’s ICS service. A list identifying IntraFi network banks appears at https://www.intrafi.com/network-banks. Certain conditions must be satisfied for “pass-through” FDIC deposit insurance coverage to apply. To meet the conditions for pass-through FDIC deposit insurance, deposit accounts at FDIC-insured banks in IntraFi’s network that hold deposits placed using an IntraFi service are titled, and deposit account records are maintained, in accordance with FDIC regulations for pass-through coverage. Deposits are insured by the FDIC up to the maximum allowed by law; deposit insurance only covers deposits in the Ramp Business Deposit Account in the event of the failure of the FDIC-insured bank.

Securities products and brokerage services are provided by Apex Clearing Corporation. Apex Clearing Corporation is an SEC registered broker dealer, a member of FINRA and SIPC, and is licensed in 53 states and territories. FINRA BrokerCheck reports for Apex Clearing Corporation are available at: brokercheck.finra.org. The Investment Account is not a deposit product, not insured by the FDIC, and may lose value.

1. Get up to 2.25% in the form of annual cash rewards on eligible funds in your Ramp Business Account. Cash rewards are paid by Ramp Business Corporation and not by First Internet Bank of Indiana, Member FDIC. Cash rewards are subject to change. See the Business Account Addendum for more information.*

2. Before investing in a money market fund, carefully consider the fund’s investment objectives, minimum investment requirements, risks, charges and expenses, as described in the applicable fund’s prospectus. You may obtain a copy of the fund prospectus here. Yield rate is the current effective annualized 7-day rate for the Invesco Premier U.S. Government Money Portfolio fund (FUGXX), and is variable, fluctuates, and is only earned on cash invested into money market funds in the Ramp Investment Account. Market data provided by and copyright © 2025 Nasdaq, Inc. All rights reserved. Past performance is not indicative of future results. Investing in securities products involves risk of loss, including loss of principal. This is not an offer to buy or sell, or a solicitation of an offer to buy or sell, any security, and no buy or sell recommendation should be implied.

3. Earnings calculated based on the national average rate on interest checking accounts of .07% published by the FDIC as of 12/16/24, and an earn rate of 2.25% offered and paid by Ramp Business Corporation on the Ramp Business Account. This comparison is between the bank interest rate and the Ramp Business Account earn rate, paid in the form of cash rewards.*

4. Ramp Bill payments are subject to their own terms and conditions here.

US Bank
1. UB Bank
A $25 minimum deposit is required to open one of the referenced accounts. To earn a business checking bonus, open a qualifying U.S. Bank business checking account between 4/01/2026 and 6/30/2026. Make the required deposit(s) in new money within 30 days of account opening, maintain the same required daily balance through the 60th day, and complete 6 qualifying transactions based on posted date within 60 days of account opening.

Business Essentials: $400 bonus with $5,000 deposits and daily balance.

Platinum Business Checking: $1,200 bonus with $25,000 deposits and daily balance.

Qualifying transactions include debit card purchases, ACH and wire credits or debits, Zelle credits or debits, U.S. Bank mobile check deposit, electronic or paper checks, U.S. Bank bill pay for business (excluding payments made by credit card), and payment received via U.S. Bank Payment Solutions. Other transactions, such as person-to-person payments, credit card transfers, or transfers between U.S. Bank accounts, are not eligible. New money is defined as funds from outside U.S. Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. For accounts opened on non-business days, weekends or federal holidays, the open date is considered the next business day. Account fees may reduce the required daily balance during the qualifying period. Bonus will be deposited into your new eligible U.S. Bank business checking account within 30 days after the month-end in which all offer requirements are met, provided the account remains open with a positive available balance. Offer may not be combined with other business checking bonus offers. Existing businesses with a business checking account or had one closed within the past 12 months, do not qualify. All regular account-opening procedures apply. For full checking account pricing, terms and policies, refer to your Business Pricing Information, Business Essentials Pricing Information, and YDAA disclosure. These documents are available at any U.S. Bank branch or by calling 800.872.2657. Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice. Member FDIC.