10 Best Free Business Checking Accounts 2022

What’s better than a business checking account? A free business checking account, of course!

Lucky for you, we’ve done the research and found the best free small business checking account options out there. For most businesses, that means Bluevine―since it earns interest and has other handy features. You’ll find more about Bluevine and our other top picks below, along with some answers to frequently asked questions about business checking accounts.

Now, let’s find your new account!

The checking accounts above don’t charge any kind of monthly maintenance fee. But if you have your heart set on another bank (perhaps one offering more than just online banking) that does charge monthly service fees, don't fret. There’s a good chance you can get those fees waived.

Pretty much all business banks will waive the monthly fee on your checking account when you meet certain conditions, like meeting a minimum balance requirement. Here are some examples:

• PNC will waive the $10 fee on its basic checking account if you spend at least $500 on your business credit card each month.
• KeyBank waives the $5 fee on its cheapest checking account when you keep an average balance of $1,000 in your checking account.
• Bank of America waives the $14 fee on its basic checking when you join its Preferred Rewards for Business program.

And those are just a few of your options. So if you have a bank you like, go ahead and ask about how you can waive monthly fees and get a free checking account.

Just keep in mind that you won’t be able to waive other fees (like transaction fees or cash deposit fees). Fortunately, most bank accounts give you a number of free transactions and cash deposits each month, so you might be able to avoid those fees.

Bluevine offers a well-rounded interest-bearing checking account that happens to be free―making it our favorite free business checking account.

One of the best features? Bluevine offers a 1.5% interest rate on account balances under $100,000. 

And interest aside, Bluevine’s checking is everything a free checking account should be. You don’t have to pay a monthly fee, transaction fees, ATM fees, or non-sufficient fund fees. You don’t have to make a minimum opening deposit to get an account. In other words, it’s really, really free.

As an additional perk, Bluevine gives you a couple of free checkbooks when you open your new account (while banks like Kabbage charges you at least $20 per checkbook). Oh, and don’t forget that Bluevine has excellent customer reviews too. Sounds like the whole enchilada, right? Put simply, Bluevine offers an all-around great checking account for businesses―and it’s almost entirely free.

So for most businesses, we recommend getting your new business checking account from Bluevine.

Want to earn as much as possible from your bank account? Then you’ll like Kabbage.

Like Bluevine, Kabbage goes beyond free―it actually ends up paying you. That’s because Kabbage offers interest-bearing checking, which means you earn interest on the money sitting in your checking account. And with 1.1% APY (annual percentage yield), Kabbage has the second highest interest rate we’ve found for business checking. 

Another great perk? Kabbage lets you add free sub-accounts, which makes it especially great for freelancers and contract workers who need to set aside tax money (or save for equipment, or for anything else).

Put simply, Kabbage offers a good bank account with a top-notch interest rate.

Don’t want to keep track of accounts at multiple banks? NBKC Bank makes it easy―and appealing―to do your business and personal banking in the same place.

See, NBKC has a totally free business checking account. The only fees you’ll ever pay are outgoing wire fees (common for most checking accounts). You can add a money market savings account for no additional charge. All sounds good, right?

Well, wait until you hear about its personal account. NBKC offers interest-bearing checking with a 0.50% rate. And just like the business checking account, NBKC’s personal account doesn’t come with any of the usual monthly fees, transaction fees, or overdraft fees.

That means that whether you want both a free business account and a free personal account or just one of them, NBKC has you covered.

Lili has great options for sole proprietors and single-member LLCs—including tax, invoicing, and expense management tools. These tools will take a huge burden off of the typical self-employment stress. Plus, the fact that they're available online and on mobile makes things super convenient. 

In addition to having a free business checking account, Lili has a high-yield savings account with a 1.0% interest rate. This, however, is only offered alongside their Pro account—which has a $4.99 monthly maintenance fee. If that isn't a huge deal to you though, the savings you earn over time might be worth it. 

They also have over 38,000 fee-free ATMs nationwide, but they do have some spending limits. They aren't too bad, though. You can spend up to $3,000 and withdraw up to $500 a day. Monthly, you can spend $15,000 and withdraw up to $3,000. 

Spending limits aside, if you're a solopreneur looking for a checking account with lots of financial management tools, Lili is a fantastic option. 

Axos Bank works best for businesses that are established enough to have some cash on hand.

We’ll cut to the chase: Axos Bank doesn’t charge a maintenance fee on its business checking account, but it’s not as cheap an option as other accounts on this list. The minimum deposit to open a business interest checking account is $100, but its basic checking account is free. So if you want a free account because you don’t have much cash on hand, you should go with its basic checking account, or another bank. But if you have an established business—then Axos Bank deserves your attention.

Besides having no monthly fee, Axos Bank also offers unlimited transactions and reimbursement on ATM fees. Axos will even give you 50 free checks when you open an account. Plus, if you ever feel the need to upgrade to a more robust deposit account, Axos offers lots of options for small and large businesses alike.

So if you can afford that opening deposit for their business interest checking account, Axos might be just what your established business needs.

If you haven’t seen the right checking account yet, don’t worry―we’ve still got a few more great options for you to check out.

Novo offers a free checking account that comes with a number of integrations and discounts for your business. That means that you can set up your Novo bank account to seamlessly work with the other business apps you use (like Xero, Square, and Apple Pay)―and it means you can get great deals on business apps you’ve been thinking of trying with your company (from GoDaddy to QuickBooks).

In other words, Novo’s free checking account plays nice with all your other business software and gives you bonus deals―just the kind of team player we like to see. 

Maybe you’re the kind of person that keeps customer service on speed dial. In that case, consider Citizens. This bank has the best customer service options of any bank on this list. That means 24/7 customer support, yes, but it also means that you can contact customer support through phone, online chat, email, or even social media. (Sorry, no homing pigeons.)

So if you want a free checking account plus ultra-accessible customer service, give Citizens a go.

Free checking accounts can often take several days to successfully open―but not at Small Business Bank, which offers same-day approval on its bank accounts.

Now, it’s not a guarantee―it could take longer―but Small Business Bank tries to get you up and running fast. In most cases, you just submit an application, a copy of your driver’s license, your EIN (employer identification number), and maybe a proof of address. Then Small Business Bank will review your application and approve it within one business day.

So if you need a business bank account and you need it fast, Small Business Bank will be your best bet. Also, if you're looking for a savings account, they offer high-yield interest rates—ranging between 0.2-1.0%.

Let’s be real: a free checking account is just the beginning. As your business grows, you’ll need more finance products, like business loans, credit cards, savings accounts, merchant services, and more. Huntington Bank has all that and then some. In addition to the usual financial products, you’ll even find things like insurance and cybersecurity products—useful complements to your free checking account.

Put simply, Huntington Bank offers a good free checking account―and plenty more besides.

Got a nonprofit? US Bank offers a free checking account for small businesses, sure, but it’s got a free nonprofit checking account too. US Bank’s nonprofit checking has (of course) no monthly maintenance fee, and you get 1,800 free transactions and 300 free cash deposits per year. Plus, your free US Bank nonprofit checking account can earn interest (though the rates aren’t exactly stellar—currently .005%).

While other banks offer nonprofit checking, US Bank stands out by making its account free. If you’ve got a nonprofit, US Bank is the obvious free choice.

Bluevine is our pick for the best free business checking account, thanks to the lack of the fees, the interest you can earn, and other good perks―but it’s hardly your only option.

Kabbage offers a great alternative interest-bearing option, with its interest rate being only 0.4% less. And for people who want to keep business and personal accounts together, NBKC has great options for both. For single-member businesses, Lili has the best tools. Or, if you have a larger, more established business—with more advanced banking needs—Axos Bank has great options for you.

So go ahead and get your new checking account—and enjoy your free business banking.

Now that you have chosen a business checking account, brush up on the small-business bookkeeping basics to keep your accounts in order.

We analyzed over 30 business banks―including both online and traditional bank options―to get our rankings of the best free business checking accounts. We limited our list to banks that offered checking with no monthly fee, and then we scored banks based on other account fees, customer reviews, and more.

None of the checking accounts reviewed here charge any monthly maintenance fee, so they’re free to use.

That said, many banks do require you to make a minimum opening deposit (often between $5 and $100), so you should plan for that initial expense.

Also, many banks charge transaction fees, deposit fees, and overdraft fees. And if you use your debit card to withdraw cash from ATMs, you might also end up with ATM fees. Depending on how you use your account, you might also have to pay fees for incoming and outgoing wire transfers.

If you don’t want to pay common banking fees, simply choose a bank that doesn’t charge them. Most online banks, for example, don’t charge transaction fees. Some (like Bluevine) don’t even charge overdraft fees or NSF (non-sufficient funds) fees.

But even if you go with a traditional brick-and-mortar bank, many banking fees are pretty avoidable. Pretty much all banks give you a certain number of free transactions or let you deposit a certain amount of cash for free.

If you’re concerned about overdraft fees (we’ve been there), you can always sign up for overdraft protection by linking your small-business checking account to another account, like a savings account or a personal checking account.

As for ATM fees, many banks have “in-network” ATMs that let you withdraw cash without paying a fee. And if that’s not an option, some banks will refund you a certain amount of ATM fees each month.

Yep, all the banks we recommend offer free mobile banking apps for customers. Most also give you the option of using their website if you prefer slightly older-school online banking.

Yes, Bluevine and all the other online banking companies featured here are legitimate. They all have plenty of positive customer reviews, and in most cases, we’ve personally communicated with their customer service departments.

And if you think it will make you feel better, you can always look up a bank’s Better Business Bureau profile to verify that it's real and legit.

Since Azlo has shuttered, we’ve been looking around for good Azlo alternatives.

Bluevine, Small Business Bank, NBKC, and Novo work a lot like Azlo, in that they’re online banks that offer free business checking accounts with few fees. So if you mostly want an ultra-affordable basic business checking account, those all offer good options.

If you liked Azlo for features like invoicing, you’ll probably prefer NBKC or Novo. Both banks offer some invoicing features (though NBKC’s invoicing costs you extra each month and Novo only lets you invoice via the website).

Disclaimer

At Business.org, our research is meant to offer general product and service recommendations. We don't guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.