Business Checking Accounts Overview

EverBank is best for businesses that need interest-bearing accounts they can open and manage digitally. Bank of America is the best bank for business banking resources because it offers a number of tools and services, integrations and features that would be useful to many business owners. It’s also a good option for in-person banking, with around 3,800 U.S. branches. In addition to the Non-Profit Money Market account, Axos Bank offers personal and business checking, savings, CD and money market accounts.

Monthly maintenance fees and transaction fees vary by account, but all options offer overdraft protection. The bank’s business checking and savings accounts all charge monthly maintenance fees that can be waived by maintaining a high balance or, sometimes, becoming a Preferred Rewards for Business member. It offers many positive features, including a signing bonus, easy cash deposits, cash-back reward cards, and access to a global banking network. If the minimum balance is too high for you, we recommend Axos Bank Basic Business Checking or U.S.

Once you’ve selected a bank, gather your identification and business documents. Have your Social Security number and Employer Identification Number (EIN) ready, as well as certified business documents such as your articles of incorporation, business license or partnership agreement. You may also need to provide your personal ID, like a driver’s license. You salary commitment encumbrance can read more about our editorial guidelines and the banking methodology for the ratings below. Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page.

Our Expert Picks for the Best Small Business Bank Accounts

Business checking accounts are primarily used for everyday business transactions, including deposits, withdrawals and payments. On the other hand, business savings accountsare typically used for specific savings goals, such as taxes, emergencies and employee benefits. Research for this article encompassed business bank accounts from ceo salary across the U.S. We evaluated the benefits offered, transaction limits, fees charged, and customer service of each business bank account reviewed to determine the “best of” designation for each category.

Best for Low-Cost Business Services + ATM Fee Rebates

New customers can often get a bonus learn about source document for opening a business checking account and meeting certain requirements. Chase offers generous rewards-earning credit cards and a huge branch network, too. However, many banks do use ChexSystems when reviewing applications for business checking accounts.

1. The bank’s business checking and savings accounts all charge monthly maintenance fees that can be waived by maintaining a high balance or, sometimes, becoming a Preferred Rewards for Business member.
2. The LendingClub Tailored Checking account offers an interest rate of 1.50% on balances up to $100,000.
3. This business checking account offers a balance of features, including low fees and 200 free transactions monthly.
4. You can deposit checks, pay your bills, manage accounts, and transfer funds right from your phone, and all domestic ATM fees are reimbursed.

Best Business Checking Accounts of 2024

Customer experience considered merchant services, integration with business tools, customer service ratings and live chat availability. Limited liability companies (LLCs), sole proprietors, corporations and partnerships can all open business checking accounts. A business as small as a one-person consulting firm or as large as a 10,000-employee software company can set up a business checking account. To qualify for this bonus, you will use the code AXOS700 to apply for both accounts by October 31, 2024.

The bank also offers wider in-person access than many banks on our list. Axos currently offers a welcome bonus of up to $400 when opening an account and meeting certain requirements by October 31, 2024, using offer code NEW400 on their application. To qualify, customers must maintain an average daily balance of $50,000 or more for four consecutive statement cycles. Axos Business Interest Checking earns up to 1.01% APY on balances below $50,000, 0.20% APY on balances between $50,000 and $249,999.99 and 0.10% APY on all other balances. The account limits free remote deposits to 60 items per month and a monthly processing limit of 100, including remote deposits.

With unlimited no-fee transactions, unlimited ATM surcharge rebates, and attached cash-back rewards, this account also comes with a full mobile money management system for business on the go. American Express offers business checking customers a competitive APY, few fees and a sign-up bonus. Our partners cannot pay us to guarantee favorable reviews of their products or services.