Opening a business bank account online is generally faster and easier than applying in person at a branch location. You can typically apply for a business checking or business savings account in minutes, whenever and wherever it's convenient for you — a major plus for busy business owners.
Online business banks are most likely to provide the option to open a business account online. These small-business banks and financial institutions tend to have fewer fees and more perks, like cash back, high APYs and digital tools to manage finances. But there are tradeoffs, too. Customer support may be limited, for example, and account features could change.
Some brick-and-mortar business banks, including Chase, Wells Fargo, Bank of America, U.S. Bank and TD Bank, also allow customers to open business checking accounts online. Business checking accounts from brick-and-mortar banks offer branch access, in-person customer service and easy cash deposits (albeit with limits). But they typically have monthly fees and more restrictions than online-only options.
Accounts from the following banks and neobanks are among our picks for best online business accounts:
American Express.
Axos Bank.
Bank of America.
Bluevine.
Chase.
Found.
Grasshopper.
LendingClub.
Lili.
Live Oak.
Mercury.
NBKC.
Novo.
Wells Fargo.
We evaluated dozens of business checking accounts from national, regional and online banks, scoring them on fees, perks and accessibility, among other factors. Business accounts that earned at least four stars were eligible to be included in this list. All of the business accounts that appear on this page were chosen by our editorial team, who follow strict editorial guidelines to ensure fairness and accuracy in our coverage.
Our Nerdy picks
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Our pick for
Unlimited fee-free cash deposits
nbkc Business Account
4.9
NerdWallet rating
at nbkc bank, Member FDIC
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
Yes
Unlimited
Overdraft fees
$0
Bonus
$0
This free business account offers unlimited fee-free cash deposits via compatible MoneyPass ATMs — a rare feature for online accounts.
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Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft or incidental fees.
- Up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
- Unlimited cash deposits via MoneyPass ATMs.
- Accept contactless payments via the NBKC app (iOS only). Fees apply.
Cons
- High fee ($45) for international wire transfers.
- Phone support only available during business hours.
- No third-party app integrations.
Read full review
Our pick for
Overdraft grace period
Chase Business Complete Banking℠
4.5
NerdWallet rating
at Chase, Member FDIC
APY
N/A
Monthly fee
$15.00
Waived with $2,000 minimum balance
Min. opening deposit
$0
Free cash deposits
Yes
Up to $5,000 per month.
Overdraft fees
$34
Bonus
$400
Requirements to qualify
Chase business checking customers have access to more than 4,700 branch locations. Like most brick-and-mortar banks, Chase charges a monthly fee and caps cash deposits and in-person transactions. But compared to others, its overdraft policy is generous — there are no fees if your account is overdrawn by less than $50, and you'll have until the end of the next business day to get your balance back into that window.
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Pros
- No minimum opening deposit.
- Unlimited fee-free electronic transactions.
- Integrated credit card processing.
- Welcome bonus for new customers (terms apply).
- No overdraft fee unless account is overdrawn by more than $50; 24-hour grace period applies to overdrafts beyond that amount.
- 24/7 customer support.
- No fees at 16,000 Chase ATMs and access to around 4,700 branches.
Cons
- $15 monthly fee.
- Monthly limit on fee-free cash deposits ($5,000) and physical transactions (20).
- Fee for using out-of-network ATMs.
- Limit of $5,000 per month in free cash deposits.
Read full review
Our pick for
High-yield business checking
Bluevine Business Checking
4.7
NerdWallet rating
at Bluevine, Deposits are FDIC Insured
APY
2.00%
With $0 min. balance for APY
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
Fees vary by location.
Overdraft fees
$0
Bonus
$0
Bluevine's free business checking account includes a top-notch interest rate: Earn 2.00% interest on account balances up to and including $250,000. Terms apply.
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Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Earn 2.00% interest on account balances up to and including $250,000. Terms apply.
- Access up to $3 million in FDIC insurance with Insured Cash Sweep.
- No fees at 37,000 MoneyPass ATMs.
Cons
- No fee-free cash deposits. Cash deposits at Green Dot locations are capped at $2,000 per day and a service fee of up to $4.95 per deposit applies. At Allpoint ATMs that accept cash, deposits are capped at $5,500 per day and a fee of $1 plus 0.5% of the deposit amount applies.
- Fee for using out-of-network ATMs.
- No joint accounts or employee debit cards.
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Our pick for
Multiple accounts
Relay Business Checking
4.7
NerdWallet rating
at Relay, Deposits are FDIC Insured
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
Overdraft fees
$0
Bonus
$0
Relay lets business owners open as many as 20 accounts (10 for sole proprietorships), helping you parcel out funds for payroll, loan repayments and other expenses. Its online business account also includes fee-free cash deposits and the ability to set up automatic transfers to Relay’s high-yield business savings account, which earns 1.00%
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Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Cash deposits via compatible AllPoint ATMs.
- Automatic transfers to high-yield business savings earning up to 3.00% APY.
- No foreign transaction fees when you use your Relay Mastercard abroad.
Cons
- Phone support only available during business hours.
- Deposited checks are held for up to 6-7 business days.
Read full review
Our pick for
Cash back + high APY
Grasshopper Business Checking Account
4.5
NerdWallet rating
at Grasshopper Bank, Member FDIC
APY
2.25%
With $0 min. balance for APY
Monthly fee
$0
Min. opening deposit
$100
Free cash deposits
No
No cash deposits.
Overdraft fees
$0
Bonus
$0
Grasshopper's high-yield business checking account has no monthly fees and offers unlimited cash back on qualified purchases, but the bank does not support cash deposits.
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Pros
- Unlimited 1% cash back on qualified debit card purchases.
- Earn up to 2.25% APY.
- No monthly fees or overdraft charges.
- Free, built-in bookkeeping software.
Cons
- Can’t deposit cash.
- $100 minimum opening deposit.
- No weekend support.
Read full review
Our pick for
Brick-and-mortar bank with high cash deposit limits
Bank of America® Business Advantage Fundamentals™ Banking
4.5
NerdWallet rating
at Bank of America, N.A., Member FDIC
APY
N/A
Monthly fee
$16.00
Min. opening deposit
$100
Free cash deposits
Yes
Up to $7,500 per statement cycle.
Overdraft fees
$10
Bonus
$0
See offer page for more details
Bank of America's Business Advantage Fundamentals account has a high cash deposit allowance for a brick-and-mortar bank and offers unlimited fee-free electronic transactions. But there is a monthly fee, and you'll pay to use non-Bank of America ATMs.
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Pros
- Fee-free electronic transactions.
- High cash deposit limits.
- Business accounts can be opened entirely online.
Cons
- No free business checking account option.
- $100 minimum opening deposit.
- Fee for using out-of-network ATMs.
Read full review
Our pick for
Freelancers and side hustlers
Found Small Business Banking
4.4
NerdWallet rating
at Found, Deposits are FDIC Insured
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
$2 fee per deposit
Overdraft fees
$0
Bonus
$20
Requirements to qualify
Found's free business checking includes invoicing, bookkeeping and tax-planning tools and integrates with popular business and gig work apps.
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Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Free, built-in invoicing, bookkeeping and tax-planning features.
- Integrates with popular business apps, including Stripe, Etsy and PayPal.
Cons
- Phone support only available during business hours.
- Have to open account in your name, not business name, and use your SSN to apply. (Business EIN can be added later.)
- No outgoing wires. Can’t pay by check.
- Cash deposits limited to $2,000 per week; $4,000 per month. A $2 service fee applies.
Read full review
Our pick for
Cash deposits and withdrawals
Axos Bank® Basic Business Checking
5.0
NerdWallet rating
at Axos Bank®, Member FDIC
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
Yes
Unlimited
Overdraft fees
$25
Bonus
$400
Requirements to qualify
Axos Bank's free business checking account offers a lot of perks, including 24/7 customer service, cash deposits via compatible Allpoint and MoneyPass ATMs, and free ATM access nationwide (including refunds for fees charged by other banks and ATM operators).
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Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions.
- Automatic refunds of all ATM fees (domestic).
- Cash deposits via MoneyPass and AllPoint ATMs.
- 24/7 customer support.
- Welcome bonus for new customers (terms apply).
Cons
- $25 fee for insufficient funds/uncollected funds returned.
- No third-party app integrations.
Read full review
Our pick for
Early access to payments
Lili Basic Business Checking
4.3
NerdWallet rating
at Lili, Deposits are FDIC Insured
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
Fee of up to $4.95 per cash deposit.
Overdraft fees
$0
Bonus
$0
Lili’s free business checking account offers automatic savings and expedited access to payments. You can receive ACH payments, including those from popular business apps like Uber and Shopify, up to two days faster with a Lili business account. Tax-planning tools once included with the free Lili Basic account are now only available if you upgrade to Lili Pro (or higher).
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Pros
- No monthly fees or transaction fees.
- No fees at MoneyPass ATMs.
- Cash deposits via Green Dot network (fees and limits apply).
- Early payment feature allows you to receive funds up to two days sooner than with a traditional bank account.
Cons
- Fee for using out-of-network ATMs.
- Cash deposits limited to $1,000 per day, $9,000 per month. Service fee of up to $4.95 per deposit.
- No checkbooks; can’t send wire transfers.
Read full review
Our pick for
Sign-up bonus + no monthly fees
U.S. Bank Silver Business Checking
4.0
NerdWallet rating
at U.S. Bank, Member FDIC
APY
N/A
Monthly fee
$0
Min. opening deposit
$100
Free cash deposits
Yes
Up to $2,500 per month.
Overdraft fees
$36
Bonus
$800
Requirements to qualify
It's unusual to find a free business checking account from a big brick-and-mortar bank, but this account delivers just that. Transaction and deposit limits do apply, though.
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Pros
- No monthly service fee for Silver Business Checking account.
- Welcome bonus for new customers (terms apply).
- No fees at 4,700 U.S. Bank ATMs and access to 2,900 branches.
- No fees if account is overdrawn by $50 or less.
Cons
- Low cash deposit limits.
- Terms and fees are not easily accessible via the bank’s website.
- Limit of 125 fee-free transactions per month.
Read full review
Our pick for
Cash back + ATM rebates
LendingClub Tailored Checking
4.9
NerdWallet rating
at LendingClub Bank, Member FDIC
APY
1.50%
With $0 min. balance for APY
Monthly fee
$10.00
Waived with $500 minimum balance
Min. opening deposit
$100
Free cash deposits
Yes
Unlimited
Overdraft fees
$0
Bonus
$0
This account pays you back when you spend and when you save, with cash back on qualifying debit card purchases and 1.5% APY on the balance in your account (terms apply). Plus, LendingClub refunds all ATM fees worldwide.
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Pros
- Unlimited fee-free transactions; no overdraft fees.
- Earn 1.50% APY on balances up to $100,000 and 0.10% on all balances after that.
- Fee-free ATM access with automatic refund of third-party ATM fees (worldwide).
- Cash deposits via MoneyPass and SUM ATMs.
- Earn unlimited 1% cash back on debit card purchases.
Cons
- $10 monthly fee.
- $100 minimum opening deposit requirement.
- Minimum $500 balance required to earn cash-back rewards and waive monthly fee.
Read full review
Our pick for
Unlimited refunds on ATM fees
Novo Business Checking
4.4
NerdWallet rating
at Novo, Deposits are FDIC Insured
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
No cash deposits.
Overdraft fees
$0
Bonus
$0
Novo's free online business account includes unlimited invoicing and bill pay, plus refunds on any ATM fees charged in the U.S. or abroad.
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Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions.
- Refunds on all ATM fees worldwide.
- Integrates with top business tools, including Xero, Stripe and Shopify.
Cons
- Can’t deposit cash.
- Can’t send domestic or international wires.
- No recurring payments available with bill pay.
- No customer support by phone.
Read full review
Our pick for
Free wire transfers
Mercury Business Bank Account
4.1
NerdWallet rating
at Mercury, Deposits are FDIC Insured
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
No cash deposits.
Overdraft fees
$0
Bonus
$0
Mercury's business account takes free to the next level, with no transaction fees, overdraft fees and free domestic and international wire transfers. This account isn't available to sole proprietors.
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Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Free domestic and international wire transfers.
- Advanced digital tools including API access to automate and customize your banking.
Cons
- Can’t deposit cash.
- Mercury is not part of a fee-free ATM network.
Read full review
Our pick for
Large ATM network
Wells Fargo Initiate Business Checking℠ Account
4.0
NerdWallet rating
APY
N/A
Monthly fee
$10.00
Waived with $500 minimum balance
Min. opening deposit
$25
Free cash deposits
Yes
Up to $5,000.
Overdraft fees
$35
Bonus
$0
Wells Fargo offers a one-stop shop for business banking, with around 12,000 ATMs and 4,900 branches in the U.S. But its Initiate Business Checking account carries the fees and restrictions typical of a brick-and-mortar bank.
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Pros
- Phone customer support available until 11 p.m. ET on weekdays and on Saturdays and Sundays.
- No fees at Wells Fargo ATMs and access to around 4,900 branch locations.
Cons
- No free business checking account option.
- Limit of 100 fee-free transactions per month.
Read full review
Our pick for
24/7 customer support
American Express® Business Checking
5.0
NerdWallet rating
APY
1.30%
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
No cash deposits.
Overdraft fees
$0
Bonus
$240
Requirements to qualify
American Express offers a business checking account with no monthly fees, transaction limits or overdraft fees and a solid APY on balances up to $500,000. There's one key drawback, though: no cash deposits.
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Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Earn 1.30% APY on balances up to $500,000.
- 24/7 customer support.
- No fees at 37,000 MoneyPass ATMs.
Cons
- Can’t deposit cash.
Read full review
Our pick for
Business savings account
Live Oak Bank Business Savings
5.0
NerdWallet rating
at Live Oak Bank, Member FDIC
APY
4.00%
With $0.01 min. balance for APY
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
N/A
Overdraft fees
N/A
Bonus
$0
Live Oak’s free high-yield business savings account earns 4.00%
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Pros
- Industry-leading APY.
- No minimum balance to earn interest.
- No monthly fee or minimum deposit.
- Access up to $10 million in FDIC insurance with Insured Cash Sweep.
Cons
- No ATM or debit card access.
- No weekend customer support.
Read full review
Can you open a business bank account online?
You can open a business bank account online in a matter of minutes with any online business bank.
Many brick-and-mortar banks also let you open a business account online, including Chase, Bank of America, U.S. Bank and Wells Fargo —though certain business types may need to apply in person. For instance, you'll have to visit a Chase branch if you want an LLC bank account but have multiple members managing your company.
Where to open a business account online
Both digital banks and some brick-and-mortar institutions allow you to open a business checking account online. Keep these differences in mind when deciding where to open your business account.
Online banks
Online banks typically offer free business checking accounts with unlimited transactions and no monthly fees. These accounts are fully digital, so you don’t just apply online — all of your business banking activity is done via an app or website.
That makes it especially important to compare online banks' customer service offerings. Some of these business bank accounts come with phone support 24/7, some offer phone support during business hours only and many are somewhere in between. A handful only have customer support via email, though.
Even with those that offer robust live help, you won't be able to walk into a branch and talk to someone in person. Keep that in mind if you prefer problem solving face-to-face or want to avoid potential back-and-forth with different phone reps.
Neobanks
Some online banks are actually neobanks —financial technology companies that don't have bank charters themselves. Instead, they partner with existing banks to hold customer funds in business bank accounts insured by the Federal Deposit Insurance Corporation (FDIC).
Neobanks often offer innovative features you won't find with traditional business bank accounts, even those from online banks. Found, for example, gives freelancers and sole proprietors a dynamic estimate of their tax liability that changes as they spend and earn. It will also keep track of deductible expenses and automatically generate a Schedule C, which you’ll use to file your taxes.
One downside of neobanks, though, is that their products often evolve — sometimes for the better, but sometimes for the worse. For example, Lili used to offer similar tax-planning tools to customers on its free Lili Basic Business Checking account. But over the last several years, those features have been moved to new, more expensive plans offered by the neobank. That's forced existing customers to upgrade (or change banks) to retain those features.
The following neobanks offer online business accounts that are included in the roundup of best online business accounts:
Bluevine.
Found.
Lili.
Mercury.
Novo.
Relay.
Each neobank on our list partners with a FDIC-insured bank to ensure your funds are protected in the event of a bank failure.
» Learn more: 5 questions to ask before opening a neobank account
Brick-and-mortar banks
A handful of brick-and-mortar small-business banks offer the best of both worlds. Business owners can open a business checking account online and still have access to in-person banking when they need it.
Unlike their online counterparts, traditional banks often place caps on free transactions and deposits. Many charge a monthly fee but offer ways to waive it. Brick-and-mortar banks typically charge overdraft fees, too.
How to open a business checking account online
Business bank account requirements vary by institution. But to open a business checking account online, you'll typically need to:
Provide basic information about yourself and any additional business owners.
Include personal identification, such as a driver’s license or Social Security number.
Provide essential details about your business, like your tax ID number.
Upload legal business documentation, which will vary based on your entity type.
If the account requires a minimum opening deposit, you'll also need to fund that deposit — by ACH transfer, check or debit card — before you can open your business bank account. The bank will refund or cancel the deposit if your application is denied.
Choose the right online business checking account
Before applying, you’ll want to compare business checking account options and consider factors such as monthly fees, transaction limits, ATM access and additional banking tools to find an account that’s right for your financial needs.
Whether you opt to open a business bank account online or in person, you can streamline the process by preparing documentation ahead of time and following all instructions carefully.