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Last Updated: August 4, 2025
When you’re starting a new business, one of the earliest decisions you’ll make is which business checking account you should open. And since there are more than 4,000 FDIC-insured commercial banks in the United States, it can be difficult to determine which checking account is the right fit for your business. It’s even more difficult when you consider that, for the most part, many of these banks offer business bank accounts that are very similar.
Unlike business credit cards — which have varying levels of credit rewards, interest rates, cashback offerings, and more — business bank accounts have fewer factors that make them stand apart from each other. It’s not always easy to decide between a business account that’s just okay or truly excellent.
Thankfully, we’ve assembled this guide to compare some of the best business bank account offerings on the market. Whether you want an online banking solution or you prefer a traditional brick-and-mortar bank, you’ll find some excellent options here.
Here at ZenBusiness, we have an outstanding FDIC-insured business banking account offer that’s tough to top. With ZenBusiness Banking, you don’t have to worry about minimum opening deposits, minimum balances, or monthly account activities.
Instead, for the low rate of just $5 per month, you’ll get a fully featured business bank account that includes checking, physical and virtual debit cards, expense tracking, deduction tagging, and tax tools. We don’t even have fees for same-day ACH transfers.
If you used us as your LLC formation service (or you plan to), signing up for ZenBusiness Banking is incredibly simple. Since we already have your business and personal info on file, it just takes a few clicks to set up your account. Overall, you’d be hard-pressed to find a better selection of features for less money with a competing business checking account.
Chase Business Complete Banking includes a $15 monthly fee, which is higher than some competitors. However, there are several ways to get this fee waived each month, including maintaining a $2,000 minimum daily balance, making $2,000 in purchases or deposits, linking your account to a Chase Private Client account, and more.
This account also allows you to take credit card payments at the rate of 2.6% + $0.10 for purchases with a card reader or tap-to-pay and 3.5% + $0.10 for manual purchases through the Chase mobile app. When you add in the same-day deposits, Fraud Protection Services, and access to Chase locations all over the country, Business Complete Banking can be a “complete” bank account for many small business owners.
The Business Advantage Fundamentals account is Bank of America’s starter option for business banking. As a Fundamentals account holder, you’ll have a $16 monthly fee, which you can have waived in several ways: keeping a combined average monthly balance of $5,000, using your debit card to make $500 in qualifying purchases, or being a member of Preferred Rewards for Business.
This account also provides access to Bank of America’s dedicated small business specialists, and it offers fraud protection and free usage of 17,000+ ATMs and 4,000+ locations. The Bank of America Business Advantage Fundamentals Banking is a well-rounded account with a well-known bank.
The Initiate business checking account is Wells Fargo’s introductory business account, aimed at small businesses with simple business banking needs. There’s a relatively low monthly fee for this account: $10. You can waive that fee with a $500 minimum daily balance or $1,000 in average combined balances for the month. The Initiate Business Checking Account includes some vital consumer protections, including fraud monitoring and zero-liability debit card coverage.
One aspect of this account that some business checking customers appreciate is Wells Fargo’s offering of custom business debit cards and checks with your company’s name and logo on them. Finally, the Wells Fargo Initiate Business Checking Account provides access to more than 11,000 ATMs and 5,600 physical branches from coast to coast.
If you’d rather have a business account with no monthly maintenance fee, U.S. Bank’s Business Essentials business checking account can help you manage cash flow at no cost. As an account holder, you’ll receive a free card reader to handle card payments easily, and you’ll also receive unlimited digital transactions. This package doesn’t have many perks or features, but it works well for businesses that are on the smaller side. Plus, if you outgrow the Essentials plan, you can upgrade to the Platinum package.
PNC Business Checking is a solid choice for entrepreneurs who don’t need a high-volume business banking solution. PNC only requires a minimum of $100 to open a new account, and their $12 monthly fee is pretty reasonable as well. It’s easier to waive that fee than it is with some other banking options, too.
However, PNC Bank isn’t a truly national bank with widespread reach. They do have around 2,200 branches and 9,500 ATMs, though, so if you operate a business in a location where PNC operates, they could be worth a look for your business checking account.
The Axos Business Interest Checking account can be an intriguing option for business owners who do most of their business online. This financial institution’s online banking app is easy to use, and you can easily make up to 60 mobile deposits per month at no extra cost. The monthly service fee is only $10.
Another major perk to Axos Business Interest checking is in its name: you can actually earn interest on your account balance (1.01% APY at the time of this writing). Considering you usually only learn that kind of interest with savings accounts at many banks, that’s a nice perk.
Note: Axos also offers a Basic Business Account that you might prefer. This account trades the interest-earning capabilities for zero monthly fees on your account. Both options are workable, but you’d have to pick which perk matters most to you: earning interest or avoiding monthly fees.
BlueVine is a newer business banking option that could be intriguing if your business operates primarily online. One unique perk BlueVine offers is the ability to create sub-accounts: distinct account numbers that you can use to control which accounts your vendors, contractors, and suppliers can bill. This can be helpful for business owners who need to keep their invoices organized into different categories without opening extra accounts.
Another major perk is that BlueVine’s enrolled users don’t pay a monthly service fee, and there’s no minimum deposit required.
Formerly known as TIAA Bank, EverBank is another online-only bank that some business owners may find intriguing. They actually have several account offerings to suit different business needs, including a small business checking account for small single-member LLCs and sole proprietors, nonprofits, and more established businesses.
The Business Checking account from EverBank is a straightforward solution: for a monthly fee of $14.95, you’ll get overdraft protection, zero fees for online bill payments, and easy mobile check deposits. This account also offers up to 200 free processed items per statement cycle, and you can waive the monthly fee by maintaining a $5,000 balance.
If you want a no-fee banking account, then First Internet Bank is another online bank you might find intriguing. First Internet’s Do More account doesn’t require you to keep a minimum balance, and there are no monthly fees regardless of the balance you maintain. First Internet Bank also doesn’t limit the number of transactions you have each month, so that’s a nice perk if your business has a lot of deposits. Their mobile banking app can help you with your cash management by allowing you to deposit checks, review your transactions, and more.
They even offer interest on your checking account balance of $10,000 or more (0.5% APY at the time of this writing), which can be a nice perk if you qualify.
As you’ve read this guide, you might have noticed that these options include both online-only banks and traditional retail banks. In the past, banks with physical branches were your only option for a business account. Today, you can choose either an online bank or a traditional one. But which do you choose to help your business thrive? Ultimately, it depends on what you’re comfortable with.
Take online banks, for example. If you use one, you probably won’t mind the mobile banking experience; you might even prefer it. You’ll probably also find that online banks have lower fees than the average retail bank (though there are exceptions to that). Online banks also tend to have better interest rates (but it’s up to the bank’s discretion, and there are exceptions).
But on the flipside, you’ll need to understand that you won’t be able to visit a physical bank branch if you choose an online bank (ATMs are usually available, but not dedicated physical branches). If you have a lot of cash transactions, an online bank might not be a good fit.
Meanwhile, traditional retail banks like Wells Fargo, Bank of America, U.S. Bank, and plenty of others tend to have less-appealing interest offerings for business checking accounts. In some cases, there may be higher fees, and you can’t always apply online to open a business account with a traditional bank.
But if you prefer to walk into a physical bank during your typical business day, then those drawbacks won’t matter to you. With a traditional bank, you can talk to a banker, deposit cash easily, and more. Traditional banks also tend to have a wider variety of account offerings, which can be helpful if you want to keep your business and personal accounts at the same financial institution.
Choosing and opening a small business checking account can feel a bit overwhelming, and unfortunately, we can’t tell you which account is right for you. You’ll have to carefully evaluate your priorities and choose an account accordingly. For example, if you want to pair your business bank account with investment advisory services and business CDs, you’ll need to pick a bank with multiple account offerings. If you’re worried about fraud, you’ll want to choose a bank that has early warning services to help protect your business funds.
Ultimately, you’ll have to decide what banking features matter most to you and find the bank that best matches your needs. For a lot of small business owners, that means picking a bank that has low or manageable fees, good customer service, and reliable fraud protection to keep their business funds safe. But no two businesses are exactly alike. And fortunately, no two banks are identical, so there’s likely to be one to fit your needs.
Whether you prefer an online banking solution or a more traditional bank with physical locations, you’re sure to find a business checking account that suits you and helps you keep your business moving forward. We hope this guide has helped you evaluate some of the different options available to you. Good luck!
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The best bank for a business checking account depends on your business’s needs. If you value in-person service and access to thousands of branches, traditional banks like Chase or Bank of America are strong contenders. On the other hand, if you prefer digital convenience with minimal fees, online options like ZenBusiness and others offer feature-rich accounts with no monthly fees and flexible transaction limits. Ultimately, the best bank is the one that fits your preferences for location, cost, convenience, and service.
LLC owners often benefit from banks that offer easy expense tracking and simple tax prep features. ZenBusiness Banking is a great choice for single-member LLCs because it integrates seamlessly with your ZenBusiness formation and includes expense tagging, tax tools, and no balance requirements for just $5/month. For multi-member LLCs or those needing more traditional services, Chase and U.S. Bank provide solid options with flexible fee waivers and good scalability. Consider what stage your LLC is in and choose a bank that can grow with you.
As a small business, the best choice for your business bank account depends on your business goals, banking preferences, and how much support you need. For example, if you’re a crafter who sells at local craft fairs, you’ll have a lot of cash transactions; you’d probably prefer a traditional bank. But if you only sell your products online, then an online bank might be a better choice.An important thing to consider when choosing your small business bank is the number of transactions you’re allowed to make without extra fees. Some accounts have unlimited transactions or deposits, and others place a cap on the transactions you can make before you have to pay fees.
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Disclaimer: The content on this page is for information purposes only and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.
ZenBusiness is a financial technology company and is not a bank. Banking services provided by Thread Bank, Member FDIC. The ZenBusiness Visa Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa debit cards are accepted. FDIC insurance is available for funds on deposit through Thread Bank, Member FDIC. *Your deposits qualify for up to a maximum of $3,000,000 in FDIC insurance coverage when placed at program banks in the Thread Bank deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://thread.bank/sweep-disclosure/ and a list of program banks at https://thread.bank/program-banks/. Please contact customerservice@thread.bank with questions regarding the sweep program.
Written by Team ZenBusiness
ZenBusiness has helped people start, run, and grow over 850,000 dream companies. The editorial team at ZenBusiness has over 20 years of collective small business publishing experience and is composed of business formation experts who are dedicated to empowering and educating entrepreneurs about owning a company.
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