Our best free business checking accounts will help you relieve some of your worries and troubles of for your business banking needs. If you own a business you know the frustration of small fees adding up.
Explore Business Checking Accounts to find the perfect account for you. Each account comes with a unique blend of features as well as fees and restrictions.
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. 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, and this monthly fee can range anywhere from $8 and up. Most accounts will allow you to waive this fee entirely by meeting some requirement.
- 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.
Table of Contents
- 1 Best Free Business Checking Accounts
- 1.1 Chase Total Business Checking®
- 1.2 Huntington Business Checking 100
- 1.3 Axos Bank Basic Business Checking
- 1.4 Axos Bank Basic Interest Checking
- 1.5 Novo Review: Smarter Business Banking For Today’s Entrepreneurs
- 1.6 TIAA Bank Business Checking
- 1.7 U.S. Bank Silver Business Checking
- 1.8 Capital One Spark Business Basic Checking
- 1.9 Citibank CitiBusiness® Streamlined Checking Account
Best Free Business Checking Accounts
Chase Total Business Checking®
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 CheckingSM 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 doesn’t come with a monthly fee.
This account takes the top spot despite having a monthly fee due to its outstanding features and sign-up bonus.
Huntington Business Checking 100
 • 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. |
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).
Editor’s Note: For those who are interested, you can also choose to take advantage of the Huntington Unlimited Business as well as the Huntington Unlimited Business Plus Accounts for an even higher bonus!
Axos Bank Basic Business Checking
- Monthly Service Fee: None
- Monthly Cash Deposit Limit: N/A
- Availability: Online nationwide
- Bottom Line: This account is ideal for small businesses as there are 200 free transactions per month.
Axos Bank is offering a Basic Business Checking Account for business owners looking to expedite your finances through attractive features and services.
(Visit Axos for more details)
Axos Bank Basic Interest Checking
- Monthly Service Fee: $10, waived with a minimum $5,000 balance
- Monthly Cash Deposit Limit: N/A
- Availability: Online nationwide
- Bottom Line: This account compounds interest on your account balance, 50 free items per month, free image statements, and the first 50 checks are free.
Axos Bank is offering a Business Interest Checking Account, allowing you to take charge with industry-leading rates to better your small business!
(Visit Axos for more details)
Novo Review: Smarter Business Banking For Today’s Entrepreneurs
- Monthly Service Fee: None
- Monthly Cash Deposit Limit: N/A
- Availability: Online nationwide
- Bottom Line: Novo is a business banking platform that is bringing small business banking into the modern age with their easy-to-use tools for businesses on the go. You can easily open a business checking account in minutes, securely with no minimum balance requirements.
When you open an account, you get a free Novo business debit card. You can use it anywhere where Mastercard is accepted, as well as both Apple Pay and Google Pay.
Additionally, Novo doesn’t charge a fee to use an ATM, but you may have to pay a fee to the owner of the ATM. Plus, you can withdraw up to $1,000 per day.
(Visit Novo for more details)
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.
The minimum opening deposit is $1,500 but to waive the $14.95 monthly service fee you will need to have a $5,000 balance.
In addition, this account comes with 200 free transactions a cycle. There will be a $0.25 charge per additional transaction as well as $0.50 fee for every additional bill payment over the 10 monthly limit.
This account is ideal for small business that do not have a high amount of transactions. This account also comes with several features to help you deposit checks:
- 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.
(Visit TIAA Bank for more details)
U.S. Bank Silver Business Checking
- No Monthly Service Fee
- 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.
There is no monthly service fee, but 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 $250 cash in one transaction, the 2.5 is rounded up to 3, for a total of 3 units towards the 25 maximum monthly. Once you go over the 25 unit limit, there’s a small fee between $0.15 and $0.20 per additional $100 deposited.
(Visit U.S. Bank for more details)
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.
(Visit Capital One for more details)
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.
- No withdrawal fees at Citibank ATMs.
- You want the protection of FDIC insurance (up to $250,000 per depositor).
(Visit Citibank for more details)
Best Business Account Bank