Best Business Checking Accounts of 2025
Written by Ken Tumin
A business checking account is designed for business-related transactions, unlike a personal checking account, which is geared toward individual use. With a separate business account, you also create clear boundaries between your business and personal assets.
But a business checking account can come with higher fees than a personal account. If cash flow is a concern for your business, check out our picks for the best business checking accounts with no or low fees.
DepositAccounts strives to produce high-quality content that meets your needs and exceeds your expectations. Content is fact-checked to ensure accuracy and objectivity. DepositAccounts gathers dozens of business checking account rates from banks and credit unions across the country to identify the best daily rates. See our Methodology.
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- Best free business checking accounts at a glance
- Summary: Best free business checking accounts of 2025
- What is a business checking account?
- How much do banks charge for a business checking account?
- Pros and cons of business checking accounts
- How to select a business checking account
- How to open a business checking account
- How to get a business checking account with bad credit
- Alternatives to business checking accounts
- Methodology
Best free business checking accounts at a glance
These business checking accounts don’t charge monthly maintenance fees, regardless of balance or account activities.
| Quick take: Best free business checking accounts of 2025 | ||
| Bank name/checking account name | Key features | |
 American Express®
Business Checking |
Monthly fee: $0 APY: 1.30% on balances up to $500,000 Minimum initial deposit: $0 Bonus: 30,000 Membership Rewards points with qualifying account activities |
|
 Axos Bank
Basic Business Checking
|
Monthly fee: $0 APY: 0% Minimum initial deposit: $0 Bonus: up to $400 | |
 Grasshopper Bank
Innovator Business Checking
|
Monthly fee: $0 APY: 1.80% for balances of $25,000 to $250,000; 1.00% for balances less than $25,000 and more than $250,000 Minimum initial deposit: $100 Bonus: None | |
 nbkc bank
Business Checking Account
|
Monthly fee: $0 APY: 0% Minimum initial deposit: $0 Bonus: None |
|
 U.S. Bank
Silver Business Checking |
Monthly fee: $0 APY: 0% Minimum initial deposit: $100 Bonus: $500 | |
Summary: Best free business checking accounts of 2025
American Express® Business Checking
American Express® Business Checking account earns interest on balances up to $500,000 and Membership Rewards points for eligible Business Debit Card purchases. You’ll pay no monthly maintenance fees and no fees for domestic Automated Clearing House (ACH) or incoming domestic wire transfers.
The account does not charge nonsufficient funds fees, and ATM withdrawals are free from the Allpoint and MoneyPass ATM networks. Cash deposits aren’t accepted at ATMs, however.
Electronic checks are free, but third-party costs apply for an optional checkbook.
Axos Bank Basic Business Checking
This noninterest-bearing account comes with no monthly maintenance fee and offers unlimited domestic ATM fee reimbursements. You’ll also receive two outgoing domestic wire fee reimbursements monthly.
Noteworthy account features include unlimited item processing, cash deposits via MoneyPass and AllPoint ATM networks, and 24/7 customer support.
Grasshopper Bank Innovator Business Checking
This checking account offers a relatively high interest rate and 1% cash back rewards on online or signature-based debit card purchases. These features are rare for a free business checking account.
You’ll pay no monthly maintenance fees, and ACH and incoming domestic wire transfers are free and unlimited. Fee-free ATM withdrawals are available at more than 40,000 MoneyPass ATMs and thousands of SUM ATMs nationwide.
The Innovator Business Checking account has downsides: No cash deposit service is offered, and Zelle isn’t supported.
nbkc bank Business Checking Account
You’ll have no monthly service fees, no overdraft or insufficient funds fees, no returned-item fees, and no inactivity fees with this account. ATM access is free if you use the MoneyPass network, and the bank will reimburse up to $12 monthly in fees for using other ATMs.
Some fees apply, however. Each outgoing domestic wire transfer costs $5, which is below average for wire transfers. You won’t pay for incoming domestic wire transfers, but both incoming and outgoing international wire transfers are $45.
U.S. Bank Silver Business Checking
This is the only major traditional bank on our list. U.S. Bank has nearly 2,300 branches in 27 states, and you can open an account online in any state. The bank is one of the few major institutions to offer a business checking account with no monthly maintenance fees.
Your first 125 transactions per statement cycle are free with this account. You can also make up to 25 free cash transactions or $2,500 of free cash deposits — whichever comes first — per statement cycle.
ATM access is free at all U.S. Bank ATMs. Customers also have free access to MoneyPass ATMs. Note that partner ATM transaction fees and functionality may vary.
What is a business checking account?
A business checking account is a specialized bank account that allows you to manage your business finances separately from your personal finances. Even the simplest businesses, including sole proprietorships, can benefit from a business checking account.
Keeping your business funds separate from your personal funds provides limited personal liability protection and simplifies tax reporting.
Also, business checking accounts typically offer features tailored to business needs, such as tools for tracking cash flow, managing expenses, and sending and receiving money between bank accounts.
How much do banks charge for a business checking account?
Banks charge fees for business checking accounts that can vary based on the account features and the institution. Monthly maintenance fees, transaction fees, cash deposit fees, ATM fees, overdraft fees and wire transfer fees are common.
Fees for transactions such as check deposits or electronic withdrawals are typical once a business exceeds an allotted number of free transactions per month. One major national bank has a fee of 50 cents per transaction after 100 transactions monthly.
Cash deposit fees apply when deposits exceed a certain limit, often $5,000 to $10,000 monthly. One example from a major national bank is a fee of 30 cents per $100 deposited after you reach a $5,000 cap each statement cycle.
Still, an array of other fees may pop up. ATM fees are typical when you use machines outside of your bank’s network. Overdraft fees occur when you don’t have enough money in your checking account to cover a transaction. You may also pay bank fees for sending or receiving wire transfers.
Pros and cons of business checking accounts
While business checking accounts provide important benefits, they can come with higher costs and fee structures. Here are a few pros and cons of business checking accounts to keep in mind.
Pros
- You’ll keep your personal finances separated from business finances. This helps provide legal protection and simplify tax reporting.
- You’ll enhance your business’s credibility with customers and vendors.
- You’ll get access to business-specific banking services.
- Accounts can have multiple authorized users, which is essential for businesses with multiple partners or employees who handle finances.
Cons
- Business checking accounts typically have higher monthly maintenance fees and transaction costs than personal checking accounts.
- Fees can be complex for transactions, cash deposits and additional services.
- Accounts often have higher minimum balance requirements.
- Limits on free transactions can result in additional costs.
How to select a business checking account
Choosing the best free business checking account requires assessing your business’s specific needs. Here are key factors to consider:
Review account fees and limits. You may want the account with a monthly maintenance fee if other fees are lower or you can easily waive the fee. The account may have other worthwhile features that offset fees.
Seek access to a large ATM network and reasonable ATM fees. Check for fee reimbursements for out-of-network ATM withdrawals.
Assess the quality of online and mobile banking platforms. Robust digital tools can simplify account management. Also, security measures should include multifactor authentication — a multistep log-in process — to safeguard your business checking account against cyberthreats. Federal regulations provide fewer protections against cybercrime for business checking accounts than for consumer checking accounts.
Evaluate the bank’s customer service reputation and the availability of business banking support. If you have a small business, research how the bank handles small-business accounts and customer service.
How to open a business checking account
Once you’ve settled on a business checking account, you’ll generally follow these steps to open it.
- Check with the bank about information and documentation requirements. You’ll often need your employer identification number (EIN) or Social Security number; operating agreements or management structure outline; business formation documents, such as articles of incorporation, partnership agreement or business license; and personal ID, such as a driver’s license or passport.
- Once you have the required documents, visit the branch or apply online. Provide your personal and business information on the application, and supply any required documents and signatures.
- Make the initial deposit to fund the account. An ACH transfer from a bank account is often an option.
How to get a business checking account with bad credit
If the account you’re applying for doesn’t include an overdraft line of credit or a business line of credit, the bank may not run a credit check. A credit check and bad credit, however, may result in your application being rejected.
If you have bad credit, research banks to see if they do a credit check for their business checking accounts. Search for local banks and credit unions that may be more willing to work with you on a case-by-case basis. Offering a security deposit or collateral can sometimes mitigate credit history concerns.
Many banks will run a ChexSystems report during the application process. If you’ve had problems with checking or savings accounts, such as bounced checks or unpaid fees, these may show up on your report. You are entitled to at least one free copy of your ChexSystems report each year.
Alternatives to business checking accounts
If you can’t get approved for a business checking account or decide it’s not the right choice for you, then you can explore a few alternatives, including:
- Open a business savings or business money market account. You may not even need a credit check to do so. However, business savings or business money market accounts are often subject to transaction limits and fees for exceeding limits.
- Explore online payment services. Providers such as PayPal offer many features of business checking accounts, including the ability to handle transactions and accept payments. They are particularly useful for e-commerce companies and small businesses. But an important downside is the lack of federal deposit insurance.
- Consider a cash management account. This option, also ideal for small businesses, blends the functions of a checking account with a savings account. Brokerage firms commonly offer cash management accounts, which are typically federally insured.
- Last resort: Use a personal checking account. If you have a sole proprietorship with a limited number of monthly transactions, you may be able to use a personal checking account.
Methodology
DepositAccounts reviewed 35 nationally available, free business checking accounts to select the five best. These are free business checking accounts in that they don’t charge monthly maintenance fees, regardless of balance or account activities. All five accounts are available from federally insured banks.