Best Business Checking Accounts September 2025

The business checking account does not offer interest, but Axos does have a handful of business savings accounts you can take advantage of. Novo has one of the best small business checking accounts, as you can perform all its services fee-free business bank account if you’re careful. You won’t need to pay a thing to keep your account, and the bank will refund ATM fees are funded up to $7/mo. There’s no way to deposit cash, and you will need to keep a close eye on expenses lest you face the wrath of a hefty overdraft fee.

With the expectation of potentially multiple rate cuts in the near future, holding on to excess cash could seem less attractive due to lower interest earnings. But there’s no one-size-fits-all solution for cash flow management. The most prudent way for businesses to manage cash flow, including excess cash, involves a structured method that can ensure liquidity, security, and growth potential.

If your account requires an initial deposit, you’ll complete this step once you’re approved. At the very least, every business should have a checking account to manage income and expenses. This account is also necessary for separating personal and business finances.

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Even if you’re simply working a side hustle, having a business checking account speaks to your credibility and professionalism. We want checking accounts with bells and whistles that make it easier to run your business. That’s why we determined whether accounts integrate with accounting, payroll, invoicing and tax prep software, among other services. We also gave high marks to accounts that offered merchant services, meaning they could process point-of-sale payments. Business checking accounts can only be opened in person at a KeyBank location. Also, to waive the monthly fee, you must maintain an average daily balance of $1,000.

American Express is an online-only bank, so you won’t be able to visit a branch to get help in person. But Amex offers 24/7 support, so you should always be able to reach a customer service rep when necessary. Entrepreneurs looking for business banking as well as expense management, invoicing and other useful features. You need an Employer Identification Number (EIN) to open a business bank account. However, if your business is a sole proprietorship or a single-member LLC, you can use your Social Security Number (SSN). Below you will find an business checking account interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area.

• The account also comes with credit card processing and corporate credit cards.
• Any data points that were not used for scoring purposes were collected for background.
• You won’t need to pay a thing to keep your account, and the bank will refund ATM fees are funded up to $7/mo.
• We don’t own or control the products, services or content found there.

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• Managing an additional account means juggling both personal and business banking.
• The idea that your business checking account needs to be held at a local bank is fast becoming outdated.
• Several banks and credit unions offer business checking accounts that are especially suited to small business owners.
• The account requires no monthly fees or minimum balance — and it’s free to sign up.

There is no Cash Deposit Processing Fee for the first $20,000 in cash deposits per statement period; standard cash deposit fees apply above $20,000. Linking for pricing purposes will not affect your statement and does not link account for overdraft protection. Interest for this account is compounded and credited monthly on the last day of each month.

You will have ATM access without any fees, although another network may charge you if you use anything other than Allpoint machines. The biggest perk of using Square Banking is the almost instantaneous access you’ll get to funds from sales made via Square, using the Instant Transfer option. Another perk is a discount when you use your Square debit card to make purchases from other Square sellers. Finding the right partner requires evaluating several key factors that will impact your day-to-day operations and long-term financial health.

If your business requires ACH transfers, Novo is the company you’ll want to check out. Novo offers unlimited ACH transfers with no maximum limit and has no ACH fees. Using your debit card doesn’t just help you earn interest on your funds. You can earn the minimum rate by using your card at one of 19,000 gas stations nationwide, or you can earn maximum cash back at hotels and restaurants. For instance, if your business receives a lot of wire transfers, than you’d certainly want to consider how much banks charge for incoming and outgoing wire transfer fees.

It works similarly to a personal checking account in that both products are a convenient way to administer sizable amounts of cash and transfer it to other entities. A checking account should first do no harm, and that means charging little in fees. We like that the KeyBank Basic Business Checking account allows up to 200 combined transactions each statement period and lets business owners deposit $25,000 in cash monthly with no added fees. We chose the PNC Bank Treasury Enterprise Plan because it includes a high monthly transaction limit of 2,500 and allows businesses to deposit $50,000 in cash monthly with no additional charge. This account also has investment options for excess cash with the ability to set up an automatic sweep into a money market account for balances over a minimum you set.

Live Oak Bank offers business banking services to US citizens and permanent residents with valid Social Security Numbers. Live Oak business accounts are available to corporations, LLCs, sole proprietors, partnerships and limited partnerships, professional corporations, associations, and nonprofits. You won’t pay any ongoing monthly maintenance fees for a Live Oak savings account. Overall, fees with Live Oak are low or fairly avoidable, minus two glaring exceptions — wire transfer fees and foreign transaction fees.