- Last updated December 2024
Best Online Business Checking Accounts Of December 2024
Compare 2024's online business checking accounts in one place
✓ Low monthly fees & overdraft fees
✓ Easy 24/7 mobile access
✓ Unlimited transactions
9.7
Relay
All-in-one banking for small business owners
Best for online small business banking
- Savings accounts with 1-3% APY
- No account fees or minimum balances
- Up to $3M in deposit insurance
All-in-one banking for small business owners
Apply online in 3 minutes
Best for online small business banking
- Apply online in 3 minutes
9.5
Found
All your banking needs for the self-employed
Best for sole proprietorships
- Banking, taxes, bookkeeping – all in one place
- No credit check or monthly fees
- Real-time expense tracking and categorization
9.4
Novo
Great for online-only businesses
Best for established LLCs
- Integrates with top business tools, including Quickbooks, Xero, & Stripe
- No monthly fees or minimum deposit
- Enjoy free standard ACH transfers, mailed checks, and incoming wires
9.2
Mercury
Business banking for scaling startups
- FDIC insurance of up to $5 million when opting into sweep networks
- Earn up to 5.39% yield on idle cash with treasury
- No monthly fees
9.0
Bluevine
Competitive yield with no monthly fees
- Earn 2.00% APY on your balance up to $250,000
- Zero monthly fees (no minimum balance & unlimited transactions)
- $3 million in FDIC insurance
8.8
U.S. Bank
Trusted name with a large sign up bonus
- Up To An $800 Bonus. Welcome bonus for new customers (terms apply)
- Bank in-person, online or in-app
8.6
Chase
National branch access with unlimited transactions
- 16,000 ATMs and 4,700 branches nationwide
- No minimum deposit required
- Unlimited fee-free electronic transactions
250,000+ people
have chosen a new account using SmartWealthTrends!
Our Ratings:
The rating system for the best business checking accounts consists of a combination of the following 3 components:
We evaluate the monthly maintenance fees, transaction fees, and the ease of fee waivers to ensure cost-effectiveness for businesses.
The quality and availability of customer support services provided by the bank. Higher ratings are given to banks with 24/7 support and high customer satisfaction.
We recommend accounts from reputable banks with strong financial stability and positive reviews from business customers.
Best Online Business Checking Account Of 2024
9.5
Relay
Our #1 choice for small business owners
Best for small business banking
- Savings accounts with 1-3% APY
- No account fees or minimum balances
- Up to $3M in deposit insurance
How We Picked These Online Business Checking Accounts
Fees and Account Requirements: We prioritized accounts with low or no monthly maintenance fees and straightforward ways to waive these fees. We also considered transaction fees, cash deposit fees, and wire transfer fees to ensure they are reasonable and transparent.
Accessibility and Convenience: We evaluated the ease of accessing accounts through online and mobile banking platforms. This includes features like mobile check deposits, online bill pay, and a wide network of ATMs and physical branches to facilitate easy day-to-day operations.
Additional Features and Services: We looked at the availability of business-specific features such as business debit and credit cards, rewards programs, and integration with accounting tools. We also considered the potential for additional services like business loans and lines of credit, which can be crucial for future business growth.
Customer Support: We rated the quality of customer service, including the availability of support through various channels (phone, email, chat) and overall customer satisfaction. Reliable customer support is essential for addressing business needs promptly and efficiently.
Bank Reputation: We considered the bank's overall reputation, including its financial stability and customer reviews. We recommend accounts from banks that are well-regarded in the business community and have a track record of providing reliable and trustworthy services.
What Online Business Checking Account Should You Choose?
How to Choose the Right Online Business Checking Account?
Your Business Needs: Evaluate what your business requires from a checking account. Consider factors such as the volume of transactions, the need for cash deposits, and the frequency of wire transfers. Ensure the account can handle your business’s operational needs without incurring excessive fees.
Account Usage: Think about how you will use the account daily. If you need frequent ATM access or prefer in-person banking, choose a bank with a vast network of ATMs and branches. A bank with robust digital banking tools and mobile app capabilities may be more suitable for businesses that operate primarily online.
Long-term Value: Look beyond initial bonuses and consider the long-term benefits of the account. Assess the ongoing fee structures, balance interest rates, and additional services, such as business loans, credit cards, or rewards programs. The account should provide value that aligns with your business growth plans.
Evaluate Multiple Offers: Compare the different business checking accounts available. Consider the bonus amounts and the terms and conditions attached to those bonuses. Some accounts may offer higher bonuses but have higher fees or stricter requirements. Balance the initial incentives with the overall cost-effectiveness of the account.
Customer Support: Ensure that the bank provides reliable customer service. Accessible and responsive support is crucial for addressing any issues with your account. Look for banks with positive customer service reviews and multiple support channels.
Disclosures
Relay
Relay is a financial technology company, not a bank. Banking services and FDIC insurance are provided through Thread Bank, Member FDIC. The Relay Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa® debit cards are accepted.
*The interest rates and annual percentage yield on your account are accurate as of 05/16/23 and are variable and subject to change based on the target range of the Federal Funds rate. APY will vary between 1-3% depending on the balances held. Earn 1% APY on savings balances of less than $50,000, 1.5% APY on savings between $50,000 and $250,000, 2% APY on savings balances between $250,000 and $1,000,000 and 3% APY on savings balances of more than $1,000,000. There are no minimum balances or minimum deposits required to earn interest on your account.
Found
Found is a financial technology company, not a bank. Business banking services are provided by Piermont Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category. The Found Mastercard Business debit card is issued by Piermont Bank pursuant to a license from Mastercard Inc. and may be used everywhere Mastercard debit cards are accepted.
*Found's core features are free. They also offer a paid product, Found Plus.
Novo
Novo is a fintech company; not a bank. Deposit account services provided by Middlesex Federal Savings, F.A., Member FDIC. Physical debit cards issued by Middlesex Federal Savings or Patriot Bank, N.A., Member FDIC; virtual cards issued by Patriot Bank, pursuant to licenses from Mastercard® International Incorporated. Mastercard can be used everywhere Mastercard is accepted. Mastercard is a registered trademark of Mastercard International Incorporated.
*The interest rates and annual percentage yield on your account are accurate as of 05/16/23 and are variable and subject to change based on the target range of the Federal Funds rate. APY will vary between 1-3% depending on the balances held. Earn 1% APY on savings balances of less than $50,000, 1.5% APY on savings between $50,000 and $250,000, 2% APY on savings balances between $250,000 and $1,000,000 and 3% APY on savings balances of more than $1,000,000. There are no minimum balances or minimum deposits required to earn interest on your account.
U.S. Bank:
Complete these steps to earn the offer:
1. Earn your $350. Complete $5,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening.
2. Earn your $800. Complete $25,000 in new money deposits within 30 days of account opening and maintain for 60 days after account opening
