Best Free Business Checking Accounts: June 2019

If you own a business you know the frustration that can happen when you are trying to find the best business checking accounts. Here we will help you relieve some of your worries and troubles by providing you a comprehensive list of the best free business checking accounts.

In addition to having a free business checking account – business owners are looking for other services such as unlimited transactions, no maximum in deposits, convenience, and security.Don’t fret we will provide you a detailed review of each free business checking account and what features make them unique.

If you’re starting your business, keeping your overhead costs as low as possible without overdoing it is ideal – so with free business checking accounts, that’s a good start! Business owners understand how quick small fees can add up over time. When applying for a business account, you’ll notice a variety of different accounts that come with different perks, features, & benefits. Some may come with a monthly fee and/or restrictions. Below are the most common fees you’ll come across with business checking accounts:

• Monthly Service Fee: Just as straightforward as it sounds, it’s a charge that occurs for each month that the account is open. You can expect this monthly fee anywhere from $8 up to $35+. A good amount of these accounts will come with opportunities to waive the fee when meeting certain requirements like maintaining a minimum balance per month, completing a certain number of transactions per month, etc to name a few.
• Excess Transaction Fee: This may sound new, but a handful of business checking accounts do have transaction limits; and if you go over this limit, there will be a charge. The charge isn’t much (could range up to 75 cents), but can surely add up over time increasing your overhead. Prepare and analyze how many transactions your business will incur each month to help pick the best account suitable for your business. The typical limit you’ll find is 100 possibly up to 200 – but there will be some accounts that offer more or less. Transactions can include but not limited to things like writing checks, debit card transactions, & ATM deposits.
• Cash Handling Fee: Another fee that can occur is if you deposit too much. Yes, depositing too much. Accounts may have a limit of how much cash you can deposit monthly – and if you go over, you’ll get charged for the overage. The fee is subtle (typically 20 – 30 cents), but can definitely add up over time.

Free Business Checking accounts take care of the monthly maintenance fees. You’re then left with deciding on which account gives you the most features with the fewest restrictions and overage charges. Other factors particular to your individual situation include branch and ATM locations.

We reviewed the largest traditional banks and online banks to come up with the list of the best free Business Checking accounts below. For more variety of options, see our list of the latest business account promotions!

Best Free Business Checking Accounts

• Get $200 as a new Chase business checking client, when you open a Chase Total Business Checking® account with qualifying activities • Access to 16,000 ATMs and nearly 5,000 Chase branches • Chase has business specialists at your local branch to help with your business needs • Account Alerts are a great way to stay on top of your account's activity and enhance security • Unlimited electronic deposits at no charge, including Chase QuickDepositSM, ACH and ATM Get Coupon at Chase

The Chase Total Business Checking account comes with a monthly service fee of $12 when you are enrolled in Paperless Statements (or $15 for paper statements) & is waived with one of the following:

• When you maintain a $1,500 minimum daily balance; OR
• You maintain a linked Chase Private Client Checking^SM or Chase Sapphire^® Checking personal account

We recommend this account for growing businesses which allows up to 100 transactions per month at no charge, plus unlimited electronic deposits & a $5,000 cash deposit per statement cycle without an additional fee. You’ll receive tons of perks from Chase Bank such as Account Alerts, Unlimited Electronic Deposits, a Business Associate Card, and much more! In addition, you can take advantage of great modern features larger banks offer like Chase Offers. Features from online/mobile banking operate exquisitely from institutions with such resources.

If you’re not able to maintain the $1,500 daily balance minimum, then we recommend one of the following accounts further below that comes with monthly fee regardless of balance.

This account takes the top spot despite having a monthly fee due to its outstanding features and sign-up bonus.

Continue to our review of Chase Total Business Checking® account.

See our list of Chase Bank Promotions.

• Open a Huntington Unlimited Plus Business Checking Account • Earn $500 bonus when you open a Huntington Unlimited Plus Business Checking account and make total deposits of at least $20,000 within 60 days of account opening. • The $500 bonus will be deposited into your account after all requirements are met and your account is open for 90 days. • Enjoy overdraft protection with no annual fee or deposit-to-deposit overdraft protection with no transfer fee! • Bonus Service. Choose one bonus service such as fraud tools, discounts on payroll services, or Huntington Deposit Scan® • Ideal for businesses with higher checking activity and greater cash flow needs. Apply Now at Huntington

An Unlimited Plus Business Checking account is ideal for larger businesses with high monthly transaction volume and a variety of treasury management needs. Get unlimited transactions, earn interest on your checking account balance, and pick two Bonus Services that best fit your business’ needs.

The Huntington Unlimited Plus Business Checking comes with a $40 monthly service fee waived with $50,000 in combined deposit relationship balances.

Although this account comes with a fee, larger businesses will surely benefit from the variety of perks and benefits that this account has to offer.

This account is available for those in IN, KY, MI, OH, PA, WV, IL, & WI (Bank Locator).

Continue to our review of Huntington Unlimited Plus Business Checking account.

See our list of Huntington Bank Promotions.

• Open a Huntington Unlimited Business Checking Account • Earn $400 bonus when you open a Huntington Unlimited Business Checking account and make total deposits of at least $5,000 within 60 days of account opening. • The $400 bonus will be deposited into your account after all requirements are met and your account is open for 90 days. • Get Overdraft Protection Account with no annual fee, or Deposit-to-Deposit Overdraft Protection with no transfer fee. • Enjoy unlimited transactions. And up to $10,000 in cash or currency deposits monthly in-branch or at an ATM at no charge. • Designed for businesses with higher checking activity and greater cash flow needs. • Bonus service. Choose one bonus service such as fraud tools, discounts on payroll services, or Huntington Deposit Scan®. Apply Now at Huntington

With a growing business, you need flexibility. Their Unlimited Business Checking account is designed for businesses with higher checking activity and greater cash flow needs. You get unlimited transactions and your choice of one Bonus Service.

The Huntington Unlimited Business Checking comes with a $20 monthly fee waived with $10,000 in combined deposit relationship balances.

Although this account comes with a fee, growing businesses will surely benefit from the variety of perks and benefits that this account has to offer.

This account is available for those in IN, KY, MI, OH, PA, WV, IL, & WI (Bank Locator).

Continue to our review of Huntington Unlimited Business Checking.

See our list of Huntington Bank Promotions.

• Open your Huntington Business Checking 100 Account today! • Earn $200 bonus when you open a Huntington Business 100 Checking account and make total deposits of at least $2,000 within 60 days of account opening. • The $200 bonus will be deposited into your account after all requirements are met and your account is open for 90 days. • Overdraft Protection Line of Credit available, or Deposit-to-Deposit Overdraft Protection with no transfer fee. • Do business without a minimum checking account balance fee or maintenance fee. • No monthly maintenance fee applies to this account. • Enjoy up to 100 monthly transactions. And deposit up to $5,000 in cash or currency monthly in-branch or at an ATM at no charge. • Ideal for start-ups and small businesses with lower balances and checking activity. • Bonus Service Trial. Free 120-day trial of a fraud tool: Reverse Positive Pay. Apply Now at Huntington

The Huntington Business Checking 100 account is ideal for start-ups and small businesses with lower balances and checking activity. You get up to 100 transactions each month and a free 120-day trial of a fraud tool: Reverse Positive Pay.

The Huntington Business Checking 100 comes with no monthly fees. However, there is a $3.00 mailed statement service fee that can be waived when you choose free e-statements.

This account is available for those in IN, KY, MI, OH, PA, WV, IL, & WI (Bank Locator).

Continue to our review of the Huntington Business Checking 100 account.

See our list of Huntington Bank Promotions.

TIAA Bank Business Checking

• Monthly Service Fee: None with $5,000 minimum balance
• Monthly Transactions Limit: 200
• Monthly Cash Deposit Limit: N/A
• Availability: Online nationwide
• Bottom Line: This account will be ideal for most small businesses that incur 200 monthly transactions or less and 10 monthly bill payments.

While the minimum opening deposit is quite hefty for the TIAA Bank Business Checking account is $1,500, you will need a total of $5,000 maintained in your account to waive the $14.95 monthly fee. In addition, if you were to go over the 200 transaction limit, you’ll incur a $0.25 overage charge and each bill payment overage will incur a $0.50 fee. This account is great for small business that do not have a high amount of transactions.

Keep in mind that this account is online-based, so you will not be able to make cash deposits. You”ll need to deposit cash into another account at your local institution then transfer the funds over to your business account. If you decide on depositing checks, you have a few options:

• Business Mobile App. You can deposit checks using your mobile app by simply taking a picture/scanning using your mobile device (and you can deposit as many checks as you’d like).
• Office Deposits. You are able to use any approved scanner to make deposits. If you have 50 or less than 50 checks to deposit per given month, the Online Check Deposit (OCD) option will be free. For a higher volumes of check deposits, the Remote Deposit Capture (RDC) will run you a fee of $35  per month.
• Wire Transfer. This option may not be ideal – even though TIAA may not charge a fee, other institutions may.
• Postage paid deposit envelops. Not all of us prefer technology or some of us are not technologically savvy. In this case, you can order free postage paid deposit envelopes.
• If you own a small business and looking for an online checking option, the Business Checking account from TIAA Bank is worth considering.

Learn more on TIAA Business Checking Accounts. See our review on TIAA Bank.

U.S. Bank Silver Business Checking

• Monthly Service Fee: None
• Monthly Transactions Limit: 150
• Monthly Cash Deposit Limit: 25 units (see explanation below)
• Availability: AR, AZ, CA, CO, FL, GA, IA, ID, IL, IN, KS, KY, MN, MO, MT, ND, NE, NM, NV, OH, OR, SD, TN, TX, UT, WA, WI, WY
• Bottom Line: There is no monthly fee with this account, however, you are limited to 150 transactions & 25 units of cash deposits per month. In convenience, they’re one of the largest banks in the U.S. and have over 3,000 branch locations across 28 states.

With the Silver Business Checking package, you can expect that it has no monthly fee. The downside, you’re limited to only 150 transactions per month at no charge –  if you go over, the fee will be $0.50.

Now here’s where it gets a little tricky. You’re allowed “25 free units” each month in cash deposits. Each unit is a cash deposit divided by 100, and then rounded to a whole number. For example, if you deposit $180 cash in one transaction, the 1.80 is rounded up to 2, for a total of 2 units towards the 25 maximum monthly. Once you go over the 25 unit limit, there’s a small fee per additional $100 deposited. This charge will vary by state, which can vary between 15 to 20 cents give or take.

Learn more about U.S. Bank Business Accounts. See our list of the latest U.S. Bank Promotions.

Wells Fargo Business Choice Checking

• Monthly Service Fee: $14; see below on how to waive fee
• Monthly Transactions Limit: 200
• Monthly Cash Deposit Limit: $7,500
• Availability: AK, AL, AK, AR, CA, CO, CT, DC, DE, FL, GA, IA, ID, IL, IN, KS, MA, MD, MI, MN, MO, MS, MT, NC, ND, NE, NJ, NM, NV, NY, OH, OR, PA, SC, SD, TN, TX, UT, VA, WA, WI, WY
• Bottom Line: With the Wells Fargo Business Choice Checking account, there is no need to worry about all 3 of the typical fees and restrictions. However, the monthly fee can be waived easily, and the limits on transactions & cash deposits are generous.

Wells Fargo is one of the largest banks in the U.S., so convenience is definitely on your side. Although the account has a $14 monthly fee, the fee waivers are very simple:

• 10 debit card purchases a month
• Maintain a $7,500 balance in your Business Choice Checking account
• Maintain a combined balance of $10,000 across multiple Wells Fargo accounts
• Sign up for select Wells Fargo business services

Do keep in mind that there is a transaction limit of 200. Any overage will incur a $0.50 fee. On a better note, you’re able to deposit up to $7,500 at no cost to you. This is a lot more than many banks allow – an overage will cost you $0.30 for each additional $100 deposited.

This account is solid for those looking for flexibility and ease of waiving the monthly fee.

Learn more about Wells Fargo Business Accounts. See our list of the latest Wells Fargo Promotions.

Capital One Spark Business Basic Checking

• Monthly Fee: $15 monthly fee waived if your prior 30- or 90-day account balance averages $2,000 or more
• Monthly Transaction Limit: Unlimited
• Cash Deposit Limit: $5,000 included monthly at no charge; $1 for every $1,000 deposited after that

With this account, you’ll be able to take advantage of unlimited transactions! In addition, you can get free Overdraft Protection with a linked Capital One small business deposit account. Also, you’ll get a business debit card, online bill pay and online and mobile checking at no additional cost. It’s the checking account your business can count on for its cash flow management needs.

Learn more about Capital One Business Accounts. See our list of the latest Capital One Promotions.

Citibank CitiBusiness^® Streamlined Checking Account

• Monthly Fee: $15 waived with a minimum average monthly balance of $5,000.
• Monthly Transaction Limit: 250
• Cash Deposit Limit: $5,000 or $10,000 depending on state

This basic business checking account is ideal for businesses that make fewer than 250 transactions every month. This basic account is perfect for smaller businesses and firms. Consider this account if:

• You make fewer than 250 transactions every month.
• You want no monthly fee when you keep the minimum balance.
• You want no withdrawal fees at Citibank ATMs.
• You want the protection of FDIC insurance (up to $250,000 per depositor).

Learn more about Citibank Business Accounts. See our list of the latest Citibank Promotions.

IBERIA Free Business Checking

• Monthly Fee: None
• Monthly Transaction Limit: Up to 500 transaction items per statement cycle
• Cash Deposit Limit: $10,000 per statement cycle

With this account, it’s ideal for small businesses with limited transaction volume. A hassle-free account with lots of flexibility. Enjoy no minimum balance, no monthly service charge, and up to 500 transaction items per statement cycle.

Learn more about iBERIABANK Business Accounts. See our review on the iBERIABANK Business Checking review.

Axos Bank Basic Business Checking

• Monthly Fee: None
• Monthly Transaction Limit: Up to 200 free items (debits, credits, or deposited items) per month, $.30 per item thereafter

This account is crafted for the busy business owner with modest checking needs. You can enjoy no monthly maintenance fees, a low minimum deposit requirement, and unlimited domestic ATM fee reimbursements. Access your money anytime, anywhere. This account is great for those who are starting their business.

Learn more about Axox Bank Business Accounts. See our review on the Axos Bank.

Best Business Credit Cards
Chase Ink Business PreferredSM Card - Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards® Apply Now---Chase Ink Business Preferred Card Review
Ink Business UnlimitedSM Card - Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening. Earn an unlimited 1.5% cash back on every purchase made for your business. Apply Now---Chase Ink Business Unlimited Card Review
Chase Ink Business CashSM Card - Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening. Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Apply Now---Chase Ink Business Cash Card Review