Every small-business owner knows the open secret about business banking: It’s just not as owner-friendly as consumer banking.
There’s a reason our roundup of the best online banks has few truly free business checking accounts — accounts with no monthly maintenance fees (and thus no overly burdensome monthly service fee waiver requirements) or monthly transaction limits.
Monthly maintenance fees and transaction limits are par for the course in the business banking world. By contrast, in the consumer banking space, free checking accounts and free high-yield savings accounts have proliferated since the global financial crisis of the late 2000s.
But free checking accounts aren’t entirely absent from business banking. They’re just more difficult to find — which means small-business owners and solopreneurs need to know where to look.
Best Free Business Checking Accounts
These FDIC-insured online banking accounts all waive monthly maintenance fees for all account holders, regardless of account balance, transaction volumes, or cash deposit requirements.
They boast other user-friendly perks besides, such as mobile banking, mobile check deposit, business debit cards, bill pay capabilities, cash flow management tools, free cash deposits (up to monthly limits), and ACH functionality. That puts them head and shoulders above your basic business checking account.
And the banks that back them typically offer other great services for businesses and entrepreneurs, including business loans, free business tools, and value-added merchant services.
Here’s what you need to know about each of the best business checking accounts with no monthly service fees.
1. BlueVine Business Checking
Totally Free Business Checking With Interest & No Minimums
BlueVine Business Checking is a totally free business checking account with no minimum balance requirements and unlimited transaction allowances for all users. It’s also one of the very few free business checking accounts that pays interest — 0.6% APY on eligible balances.
Don’t miss clutch value-adds like the option to connect your account to accounting platforms like QuickBooks Online, Wave, and Freshbooks. Plus, you can seamlessly leverage business revenue and deduction tools like PayPal, Stripe, and Expensify.
- Minimum Deposit and Balance Requirements: BlueVine Business Checking has no monthly maintenance fees, minimums, or transaction limits.
- Yield: All eligible balances earn 0.6% APY.
- Rewards and Incentives: Enjoy powerful mobile banking with features like mobile check deposit, debit card locking and unlocking, biometric security, and custom account alerts. Plus, pay no fees at more than 38,000 ATM locations nationwide and deposit cash at more than 90,000 Green Dot retail locations.
- Possible Fees: Pay no NSF, overdraft, or incoming wire fees.
Apply Now
2. Axos Bank Basic Business Checking
Limited-Time Offer: $100 Account Opening Bonus
Axos Bank Basic Business Checking is a no-nonsense, maintenance-fee-free checking account that offers unlimited ATM fee reimbursements, a remote (mobile) deposit feature that’s perfect for business owners on the go, a free debit card, and a great welcome bonus offer.
For those keen on Axos Bank but hoping to avoid maintenance fees, Basic Business Checking is an excellent alternative to Axos Bank Business Interest Checking. And you can apply entirely online.
Plus, Axos has multiple consumer bank accounts appropriate for business owners looking to manage their personal finances.
- Minimum Deposit and Balance Requirements: The minimum opening deposit is $1,000. There’s no monthly maintenance fee.
- Yield: None.
- Rewards and Incentives: To earn the limited-time welcome bonus, apply for a new Axos Bank Basic Business Checking account by the stated offer end date at the time you apply. Then, maintain an average daily balance of at least $5,000 (new funds only) during the first three months your account is open.
- Overdraft Options: Axos Bank offers an opt-in overdraft line of credit that covers overdrafts that would otherwise be returned unpaid. This line of credit has a variable interest rate comparable to a high-interest credit card. Payment of at least 5% of the balance or $25, whichever is greater, is due each statement cycle.
- Possible Fees: $0.30 per item processed after the first 200 items each month.
For more information, read our Axos Bank review.
Apply Now
3. Lili Standard
Totally Free Checking With Automatic Tax Savings and Financial Insights
The Lili Standard Account is a truly free, all-in-one checking solution that’s built with freelancers in mind.
In practice, it appeals to a much broader audience: side hustlers and gig workers supplementing W-2 income, established solo professionals (one-person businesses), and full-time freelancers.
With Lili, these folks don’t need separate bank accounts for personal and business needs — just Lili.
Its signature benefits include a sub-account that simplifies tax savings, early payday for qualifying account holders, instant expense categorization, cash deposits at more than 90,000 U.S. locations, an “emergency bucket” feature that allows savings transfers as small as $1 per day, and a powerful cache of financial insights and expense management tools to help you spend (and save) smarter.
- Minimum Deposit and Balance Requirements: Lili Standard has no account fees or minimums. Upgrade to Lili Pro (just $4.99 per month) to get even more featured and capabilities.
- Yield: Lili Standard doesn’t pay interest, but Lili Pro does pay 1% interest on savings.
- Rewards and Incentives: Lili’s referral program pays $50 per successful referral and delivers a bonus of $1,000 when you make 10 successful referrals. Plus, Lili makes it easy to set aside funds earmarked for tax payments, has helpful expense management and categorization tools (like quarterly expense reports), promises an early payday for account holders with direct deposit (up to two days early), and delivers real-time alerts about transactions and other account activities.
- Possible Fees: Lili Standard charges no account fees.
Apply Now
4. Brex Cash
Up to 50,000 Bonus Points After Account Approval; No Fees or Minimums
Brex Cash is the perfect replacement for your old business bank account: an easy-to-use cash account with no fees or minimums.
New Brex Cash companies enjoy a generous welcome offer and ongoing rewards program, plus value-added perks worth $150,000, a user-friendly mobile app with impressive capabilities, and advance payment scheduling tools built to help you avoid late vendor payments.
- Minimum Deposit and Balance Requirements: Brex Cash has no account fees or minimums.
- Yield: None.
- Rewards and Incentives: Earn 30,000 bonus Brex Rewards points after opening your account (approval required) and spending $3,500 in purchases within 30 days. Or, earn 50,000 bonus points after opening your account and spending $9,000 in purchases within 30 days. You’ll earn points on every purchase, every day too.
- Possible Fees: Brex Cash has no account fees.
Learn More
*Brex Treasury LLC is not a bank; Brex Cash is not a bank account.
5. Nearside Business Checking Account
Nearside is a free business banking platform with a streamlined application process that takes just a few minutes to complete. Once you’re onboard, you can look forward to potentially valuable features like:
- A Mastercard debit card that delivers 1% cash back on all eligible purchases and up to 5% additional cash back on select eligible purchases like car rentals (5% back), Squarespace (5% back), hotels and restaurants (4% back), and gas (1% back).
- Exclusive discounts on the tools and services you need to run your business, like Yelp, Square, QuickBooks, and Zenefits
- Free ACH transfers
- Seamless Apple Pay and Google Pay integrations
And Nearside has virtually no fees — no monthly maintenance fee and no NSF, card replacement, or minimum balance fees.
- Minimum Deposit and Balance Requirements: Nearside doesn’t have a minimum deposit or monthly minimum balance requirement.
- Yield: Select transactions earn up to 5% cash back, but Nearside doesn’t pay interest on balances.
- Rewards and Incentives: Enjoy exclusive perks, Mastercard Enhanced Debit benefits (including ID theft protection, car rental insurance, and Mastercard Airport Concierge), and fee-free access to 55,000 ATMs nationwide.
- Possible Fees: Virtually none. See terms for more information.
Apply Now
6. Novo Powerfully Simple Business Banking
Opportunities to Earn Thousands in Free Perks
Novo’s Powerfully Simple Business Banking product is another branchless, free business checking option geared toward self-employed users and microbusiness owners.
Its key selling points include an easy application process, opportunities to earn thousands in free perks with approved partner vendors, few (if any) fees, and a host of third-party integrations.
- Minimum Deposit and Balance Requirements: The account opening minimum is $50. There’s no ongoing minimum balance requirement and no monthly maintenance fee.
- Yield: None.
- Rewards and Incentives: See Novo’s website for details on opportunities to earn thousands in free perks.
- Overdraft Options: Novo’s overdraft protection policy states that if Novo chooses to honor an overdraft, the insufficient funds fee is $27 per item. The returned-item fee is also $27 per item.
- Possible Fees: Novo has virtually no fees besides the insufficient funds and returned-item fees.
Apply Now
7. U.S. Bank Silver Business Checking Package
No Monthly Maintenance Fee; 50% Discount on Your First Check Order
The U.S. Bank Silver Business Checking Package is the rare big-bank small-business checking account with no monthly maintenance fees, period. It’s designed for startups, established small businesses, and sole proprietors with limited transaction volumes.
Although it’s not U.S. Bank’s fanciest checking account, the Silver Business Checking Package has nice perks for low-key business owners. These include 25 free cash deposits each statement cycle (ideal for cash-heavy businesses like restaurants) and deep monthly fee discounts on a U.S. Bank’s Gold Personal Package account opened by the same account holder.
- Minimum Deposit and Balance Requirements: The minimum opening deposit is $100, but there’s no ongoing monthly balance requirement.
- Yield: None.
- Rewards and Incentives: Get 50% off your first check order up to $50, plus 50% off the monthly maintenance fee when you open a Gold Personal Package with U.S. Bank.
- Overdraft Options: Open a credit line (Business Reserve Line) with U.S. Bank and link it to your U.S. Bank Silver Business Checking Package for seamless overdraft protection. Fees may apply, and all business credit lines are subject to credit approval; speak with a banker for details.
- Possible Fees: $0.50 per item above the 125 free monthly transaction limit. Your first 25 cash deposits (at U.S. Bank branch locations or ATMs) are free.
Apply Now
8. Citizens Bank Clearly Better Business Checking
No Monthly Maintenance Fee; High Monthly Transaction Limit
Citizens Bank Clearly Better Business Checking is built for established small businesses with no tolerance for monthly maintenance fees.
Its high monthly transaction limit (including for cash deposits) and generous overdraft options are perfect for high-volume account holders working on thin margins.
The biggest downside is the fact that eligibility is geographically limited to states in Citizens Bank’s physical branch network, mainly in the Northeast and Mid-Atlantic. If you happen to live and work in this part of the country, it’s difficult to envision a better free business banking option.
- Minimum Deposit and Balance Requirements: The minimum opening deposit is $100. There’s no ongoing monthly balance requirement.
- Yield: None.
- Rewards and Incentives: None.
- Overdraft Options: Citizens Bank offers two opt-in overdraft options. The first is an overdraft line of credit that costs $30 per year and requires a monthly payment of the greater of $20 or 2% of the balance. The second is an overdraft savings transfer program with no annual fee. Both options charge $12 for each day an overdraft transfer occurs, regardless of the number of transfers on that day.
- Possible Fees: $0.50 per item above the 200 monthly transaction limit. See terms for information about wire transfer fees and other possible levies.
Apply Now
9. NBKC Business Checking Account
No Minimum Daily Balance Requirements
With no balance requirements, unlimited free transactions (no transaction fees), and fee-free access to more than 34,000 ATMs in the U.S. and Puerto Rico, NBKC’s business checking account is ideal for microbusiness owners and sole proprietors without significant cash reserves.
Plus, it has one of the best remote check deposit features around: the Desktop Deposit feature, which pairs with a robust mobile app to facilitate seamless deposits.
- Minimum Deposit and Balance Requirements: There’s no minimum daily balance requirement or ongoing monthly balance requirements.
- Yield: None.
- Rewards and Incentives: NBKC refunds ATM fees charged by other banks worldwide, up to $12 per month, and charges no ATM network fees. In other words, NBKC customers enjoy free ATM use. This account comes with unlimited transactions as well.
- Overdraft Options: See account disclosures for details on how NBKC’s courtesy overdraft sweep works.
- Possible Fees: NBKC charges $5 to send a domestic wire and $45 to send or receive an international wire. Otherwise, it’s virtually fee-free.
Apply Now
10. Huntington Bank Business Checking 100
Enjoy Access to Exclusive, Potentially Valuable Business Perks
Huntington Bank Business Checking 100 is a maintenance-fee-free small-business checking account for startups and established businesses. It’s ideal for entities with modest account balances and lower transaction volumes.
For a limited time, Business Checking 100 has a solid account opening bonus opportunity too. Open a new Huntington Bank Business Checking 100 account and complete the following qualifying activities for the opportunity to earn a $100 bonus:
- Open a new Business Checking 100 account between Nov. 1, 2021, and March 7, 2022
- Make cumulative new money deposits of at least $2,000 within 60 days of account opening
- Keep your account open for a minimum of 90 days
Look out for your $100 bonus in your account within 14 business days after completing these activities. Then, take advantage of Business Checking 100 benefits like:
- 100 monthly transactions§
- Deposit up to $5,000 in cash or currency monthly in-branch or at an ATM#
- Free 120-day trial of a fraud tool: Reverse Positive Pay
- No monthly maintenance fee
Disclosures:
o To be eligible for the $100 cash bonus, business customer must open a new Huntington Business Checking 100, Unlimited Business, Unlimited Plus Business, Business Analyzed, Business Non Profit Analyzed, or Business Non Profit Interest Checking account by March 7, 2022 then make a minimum cumulative new money deposit into the new checking account of at least $2,000 within 60 days of account opening.
o “New money” is defined as money that is not currently on deposit in any Huntington account
(except maturing business CDs). Account must maintain an open status for at least 90 days
before it is eligible for the bonus payment. All new accounts subject to account opening approval
and account conversions are not eligible. An Early Account Closing Fee will apply to accounts
closed within 180 days of opening.
o Your $100 bonus will be deposited into your new checking account within 14 days of meeting the
above requirements. Your business checking account must remain in an open status to receive
the bonus.
o This offer is only available to new business checking customers. All existing Huntington business
checking customers, including those with business checking accounts closed within the last six
months, are not eligible. Public Fund/Government Banking dollars and Brokers are not eligible for
this offer.
o Cash bonus does not count towards the deposit requirement. This offer cannot be used in
combination with any other offer. For tax purposes, the bonus will be reported on IRS Form
1099-INT for the year in which you receive your bonus. Huntington reserves the right to limit an
individual business owner with multiple businesses to one account-related gift incentive per
rolling 12-month period across all deposit account relationships.
§A “transaction” is any combination of checks paid, deposit tickets, deposited checks (except those you process through a remote deposit scanner), incoming ACH debits and credits, debit card purchases and bill payment transactions made through Huntington’s Online Bill Pay service.
#Deposit up to $5,000 in cash or currency monthly in-branch or at an ATM at no charge; $0.30 fee for each $100 after.
Final Word
Some of the banks mentioned here serve small-business owners exclusively. If you prefer to work with a bank that’s laser-focused on the needs of entrepreneurs like you, that’s a major selling point.
The other banks on this list are larger institutions that also serve consumers with personal checking accounts, personal savings accounts, and more. If you also happen to be in the market for a new personal banking relationship, you’ll want to see what else they have to offer.
Some sport rewards checking accounts, competitive CD rates, attractive money market accounts, and small-business credit cards too — not to mention high-yield savings accounts that can help you keep pace with inflation.
There’s a strong case to be made for doing all your banking in the same place.