Best Business Checking & Savings Accounts of 2025

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.

Savings Accounts – Save While Still Having Access to Your Cash

Why do you need a business checking account?  

The right business checking account can help you protect your finances and keep a closer eye on your cash flow. Here’s how:

  • Keep personal and business finances separate. Simplify tax prep and protect your personal assets from business debts and liabilities. 
  • Streamline financial tracking. Unlock digital tools that could help you track expenses, manage invoices and upload receipts.  
  • Boost your credibility. A dedicated business account could help build credibility with clients and vendors.  

How to choose a business checking account 

There’s no one-size-fits-all approach to choosing a business checking account, but here are a few things to consider when selecting your account:  

  • Fees. Many business checking accounts charge ongoing maintenance fees, so review these carefully. You’ll also want to check the fees for overdrafts, wire transfers, stopped payments, and using out-of-network ATMs. 
  • ATM Access. Make sure you have easy access to in-network ATMs if that’s something you need, and find out if you can make both withdrawals and deposits at ATMs.  
  • Digital tools. Does the bank have digital tools to help you track your cash flow and spending? Does it integrate with your accounting software? 
  • Minimum opening deposit.  Some accounts may require that you deposit a minimum amount when opening your account. 

How to open a business account. 

Once you’ve selected the right business checking account, you’ll usually follow these steps to get things up and running:  

  • Gather your documents. Check with the bank to verify which documents you’ll need. Generally, you’ll need your employer identification number, operating agreements, articles of incorporation, business license, and a personal ID.  
  • Apply for your account. Once you have your documents, you can begin the application and submit everything online or by visiting the bank in person.  
  • Make your first deposit. You can often make an ACH transfer to put initial funds in your

Pros and cons of business checking accounts

PROS

  • Keep personal and business finances separate
  • Simplifies tax reporting
  • Help safeguard your personal assets
  • Improve business credibility
  • Gain access to business-specific banking services
  • Easily add authorized users

CONS

  • Business checking accounts often have higher monthly fees
  • Fees for transactions and cash deposits can be complicated
  • Usually have higher minimum balance requirements