Best Business Checking Accounts of June 2024

A well-picked business checking account can make a positive impact on the financial operations of your business. And since each business has unique needs, it pays to take your time and compare different accounts before deciding on one. 

To make your search easier, CNBC Select reviewed dozens of business checking accounts with digital and in-person access. We considered many factors when ranking the best accounts, including invoicing support, payment flexibility, fees and interest rates. (Read more about our methodology below.)

Who’s this for? Bluevine Business Checking is great if you’re a small business owner. It doesn’t limit the number of transactions you can make and charges no monthly, minimum daily balances or non-sufficient fund fees. Additionally, it doesn’t charge for overdrafts or ACH payments.

Standout benefits: Bluevine provides the opportunity to earn interest. It also offers useful business-centric features like the ability to deposit checks from your phone, sync your account with QuickBooks online and share access with your team by giving your employees dedicated logins.

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Who’s this for? Novo Business Checking is worth considering if you want to establish a business presence and separate your personal and business finances.

Standout benefits: Novo allows unlimited transactions and refunds all ATM fees worldwide, up to $7 per month. It provides tools for unlimited invoicing, as well as integration with some common business tools, including Stripe, Shopify, QuickBooks and Xero. You’ll also get access to discounts on eligible business services and software.

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Who’s this for? Chase Business Complete Banking® is an excellent choice for many types of businesses because of its generous cash bonus, built-in card acceptance and large network of over 4,700 physical branches.

Standout benefits: When you open a new Chase Business Complete Checking account, you can earn $300 with qualifying activities. Offer ends 7/21/2024. Ongoing benefits include access to QuickAccept and QuickDeposit. QuickAccept allows you to accept card payments with a mobile card reader or through the Chase app. QuickDeposit offers a few options to scan and deposit checks, such as taking a picture of your check in the mobile app or signing up for a multiple-feed scanner to scan as many as 50 checks at once.

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Who’s this for? The Capital One Enhanced Checking account is worth considering if your business has higher balance and transaction volumes.

Standout benefits: Incoming domestic wires are free and your first five outgoing wires are free each month. You can deposit checks using a remote scanner service without having to visit a Capital One branch. The account also allows you to get up to two Basic Checking accounts with no monthly service fees.

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Who’s this for? The Found business checking account can be an excellent choice if you’re a freelancer or independent contractor. The account requires no monthly fees or minimum balance — and it’s free to sign up.

Standout benefits: Users get access to built-in tax and accounting tools, including bookkeeping, invoicing and the ability to create categories (“pockets”) to organize their cash flow. Additionally, you can link your account to payment and business apps such as Cash App, PayPal and Venmo, as well as Stripe and Quickbooks.

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Who’s this for? The Axos Basic Business Checking account is a good fit if you want ATM access. It offers unlimited domestic ATM fee reimbursements, so you don’t need to worry about whether an ATM is in-network.

Standout benefits: This account doesn’t have a monthly maintenance fee, minimum monthly balance requirement or minimum deposit to open the account. It offers free domestic and international incoming wire transfers, as well as two reimbursed outgoing wires each month.

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Who’s this for? The Axos Business Interest Checking is ideal if you’re on the market for a welcome bonus.

Standout benefits: If you open a new Business Interest Checking account by June 30, 2024 and use the promo code NEW400, you can earn a welcome bonus of up to $400. The average daily balance in your account must be between $25,000 and $49,999.99 for a $300 bonus or greater than $50,000 for a $400 bonus, and you must have bill pay set up and at least ten point-of-sale transactions per month. This account also lets you earn up to 1.01% APY on your balance.

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Who’s this for? Bank of America Business Advantage Relationship Banking can be a good option if you’re handling up to $20,000 in monthly cash deposits.

Standout benefits: This account allows you to make cash deposits of up to $20,000 per month for free. Other perks include access to digital tools like Zelle, Cash Flow Monitor and Business Advantage 360. Cash Flow Monitor provides tracking of credits and debits, cash flow projections and support from small-business specialists. Business Advantage 360 lets you pay bills, view and manage statements and transactions and download activity to QuickBooks. You can also connect your account to third-party apps like TurboTax and Expensify.

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Bluevine Business Checking is a digital account so you won’t have the option to visit a branch, but you’ll have free access to over 37,000 MoneyPass ATMs nationwide, as well as the ability to deposit cash and order checkbooks.

Premier customers get 4.25% APY without minimum qualifications, Bluevine Plus customers can earn 3% APY, and Standard customers get 2% APY on their balance up to $250,000 if they meet the monthly debit transaction or deposit requirement.

Minimum deposit to open

$0

Minimum balance

$0

APY

2.00% APY to 4.25%, depending on your account tier

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Novo Business Checking is an online business checking account with no monthly maintenance fee and no minimum deposit upon opening. While you won’t be able to make any cash deposits, you can use Novo’s mobile app to deposit checks and money orders.

Minimum deposit to open

$0

Minimum balance

$0

APY

None

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Chase Business Complete Banking is a fairly no-frills account, ideal for those who want access to physical branches. It has a $15 monthly service fee but you can avoid it by meeting one of the following requirements:

• Keeping a $2,000 minimum daily balance
• Having $2,000 in eligible deposits from Chase QuickAccept® (includes other eligible Chase Payment Solutions transactions)
• Making $2,000 in eligible purchases from your Chase Ink Business Card
• Maintaining a linked Chase account (includes Chase Private Client Checking℠, JPMorgan Classic Checking and Private Client Checking Plus account)
• Meet the requirements for Chase Military Banking

Minimum deposit to open

$0

Minimum balance

$0 (maintaining a minimum daily balance of $2,000 in your account as of the beginning of each day of the statement period will waive the monthly maintenance fee)

APY

None

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Capital One is a household name in banking with brick-and-mortar locations, as well as access to over 70,000 in-network Capital One, MoneyPass® and Allpoint® ATMs. The Enhanced Checking account is designed for businesses with cash deposit needs under $40,000 per month. It has a $35 monthly service fee but you can get it waived if your prior 30- or 90-day balance averages $25,000 or more. It offers various useful features, such as an online bill pay feature that makes it easy to send payments to vendors for free.

Minimum deposit to open

$250

Minimum balance

$0

APY

None

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Found offers a free account geared toward self-employed individuals. It allows for a few basic integrations but you can access more advanced business tools if you upgrade to the Found Plus account, which costs $19.99 per month or $149.99 per year. Plus, you’ll be able to earn 1.5% APY on account balances of up to $20,000.

Note that Found has certain deposit and withdrawal limits that might present a challenge if you have a larger cash flow. Specifically, you can deposit up to $3,000 in checks and $2,000 in cash per week. There’s also a monthly limit of $4,000 for cash deposits. Further, you can transfer up to $5,000 to a linked bank account per day. Card purchases and transfers to payment apps have a daily limit of $4,000.

Minimum deposit to open

$0

Minimum balance

$0

APY

None for the free version; 1.5% APY for Found Plus

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Axos Basic Business Checking is a straightforward account with no monthly maintenance fees, no initial deposit or minimum balance requirements, free domestic incoming wires and unlimited transactions. It also offers unlimited domestic ATM fee reimbursements.

Minimum deposit to open

$0

Minimum balance

$0

APY

None

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The Axos Business Interest Checking account stands out for earning interest, which is less common among checking accounts, but the APY you earn varies based on your balance. It has a low $100 minimum opening deposit, offers unlimited domestic ATM fee reimbursements and allows up to 60 items per month for remote deposit. It has a $10 monthly maintenance fee, but it can be waived with a $5,000 minimum average daily balance.

Minimum deposit to open

$100

Minimum balance

$0 (must keep a $5,000 minimum average daily balance to waive the maintenance fee)

APY

Up to 1.01% APY

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Bank of America is another well-known name in the banking world with thousands of physical branches. The Business Advantage Relationship Banking account offers fee-free electronic transactions, such as ACH transactions, debit card transactions, electronic debits and online or ATM deposits.

Minimum deposit to open

$100

Minimum balance

$0 (maintaining an average monthly balance of $15,000 will waive the monthly maintenance fee)

APY

None

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At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every checking account review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of banking products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best business checking accounts.

To determine which business checking accounts offer the most convenience, CNBC Select analyzed dozens of U.S. business checking accounts offered nationwide by online banks as well as those with physical branches. We narrowed down our rankings by considering no-fee checking accounts or accounts with easy ways to waive the monthly maintenance fees.

We compared each checking account on a range of features, including:

• Fees
• Minimum balance requirement
• Mobile banking ease
• Small business tools and support
• Large ATM network
• Account accessibility
• Customer reviews, when available

All accounts included on this list are either members of the Federal Deposit Insurance Corporation (FDIC) or FDIC-insured through partner institutions. This insurance protects and reimburses you up to your balance and the legal limit in the event your bank or credit union fails.

The rates and fee structures for checking accounts are subject to change without notice and they often fluctuate in accordance with the prime rate.

Your earnings depend on any associated fees and the balance you have in your checking account. To open an account, some banks and institutions may require a deposit of new money, meaning you can’t transfer money you already had in an account at that bank.

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Novo is a fintech company; not a bank. Deposit account services provided by Middlesex Federal Savings, F.A., Member FDIC.  Physical debit cards issued by Middlesex Federal Savings or Patriot Bank, N.A., Member FDIC;  virtual cards issued by Patriot Bank, pursuant to licenses from Mastercard® International Incorporated.  Mastercard can be used everywhere Mastercard is accepted.  Mastercard is a registered trademark of Mastercard International Incorporated.