These listings are from companies from which this site receives compensation. Read our affiliate disclosure.

Best Business Bank Accounts Of November 2022

Compare top business bank accounts

✓ No monthly fees or charges

✓ Easy tax preparation

✓ Asset protection

What account do you want?

Account Type
Business Banking
Lili Bank Logo

9.7

SmartScore
4.8/5

Lili

Best for sole proprietors & freelancers

No fees, minimum balance, or overdraft

Automatic tax write-offs

Best for sole proprietors & freelancers

No fees, minimum balance, or overdraft

Bluevine Logo

9.5

SmartScore
4.7/5

Bluevine

Best for earning interest

Earn 2.00% APY

Best for earning interest

Earn 2.00% APY

Grasshopper Bank Logo

9.4

SmartScore
4.7/5

Grasshopper

Best for 1% debit card cashback

Dedicated U.S. support team

Best for 1% debit card cashback

Dedicated U.S. Support Team

Found Bank Logo

8.7

SmartScore
4/5

Found

Best for estimating tax payments

Get paid up to 2 days early

Best for estimating tax payments

Get Paid Up To 2 Days Early

Relay Bank

8.2

SmartScore
4.1/5

Relay

Best for automated accounting

Unlimited fee-free transactions

Best for automated accounting

Unlimited Fee-Free Transactions

Live Oak Bank Logo

8.0

SmartScore
4/5

Live Oak Bank

Best for 24/7 fast U.S. support

Integrate with Stripe, PayPal, & Zelle

Best for 24/7 fast U.S. support

Integrate with Stripe, PayPal, & Zelle

Community Feedback
Based on the past 30 days
97%
Product Features
Based on our editorial reviews
95%
Community Feedback
Based on the past 30 days
92%
Product Features
Based on our editorial reviews
90%
Community Feedback
Based on the past 30 days
87%
Product Features
Based on our editorial reviews
86%
Community Feedback
Based on the past 30 days
86%
Product Features
Based on our editorial reviews
82%
Community Feedback
Based on the past 30 days
83%
Product Features
Based on our editorial reviews
81%

250,000+ people

have chosen a new account using SmartWealthTrends!​

SmartScore

The SmartScore consists of a combination of the following 2 components:

SmartWealthTrends uses community feedback as one of the components to determine the quality of a service or product that is ranked on our lists.  

SmartWealthTrends uses our individual analysis on the various products and services we review to determine how helpful they are to potential new users.

Editorial Reviews

Lili Bank Logo

Lili

Read review

Bluevine Logo

Bluevine

Learn more

Grasshopper Bank Logo

Grasshopper

Read review

Relay Bank

Relay

Read review

Live Oak Bank Logo

Live Oak Bank

Learn more

Our Top Choice

Most Popular Business Account

Lili Bank Logo

9.7

SmartScore
4.8/5

Lili

Best for sole proprietors & freelancers

No fees, minimum balance, or overdraft

Automatic tax write-offs

No fees, minimum balance, or overdraft

Why Should You Open Business Bank Account?

There are a number of reasons why you should open a business bank account. Perhaps the most important reason is to separate your personal finances from your business finances. This will help you track your business expenses and income more easily, and it will also make it easier to file your taxes. A business bank account can also help you build your business credit history.

 

A business bank account can help you manage your finances more efficiently and can also make it easier to obtain a loan or credit in the future. It can also help you protect your personal assets in the event of a lawsuit. Opening a business bank account is a simple process, and there are a number of banks that offer business banking services.

Which Account Is Right For You?

Business Savings Account
VS
Business Checking Account
VS
Business CD Account
Earns interest
VS
VS
FDIC-insured
VS
VS
ATM access
VS
VS
Debit card & check writing access
VS
VS
Higher yield potential
VS
VS
Our Top Choice:
Mercury Logo 130x130
VS
Bluevine Logo 130x130
VS
LiveOakBank Logo 130x130

Top 5 Benefits Of A Business Checking Account

  1. Easier Expense Tracking: One of the best ways to save money within your business is by tracking your expenses. This can be difficult and time-consuming, but it's worth it in the long run when the tax season comes around. With a business checking account, you can easily track your expenses so that you always know where your money is going. This way, you can ensure you're staying up to date with the business's books and not mixing personal expenses into these transactions.

  2. Increased Business Credibility: When you have a business checking account, it shows you're serious about your business. This can help you build credibility with potential customers and clients since any checks and invoices will be made to the company name, not your personal one. 

  3. Build Business Credit: One of the best ways to build business credit is by using a business checking account. This is because when you use this type of account, your payments will be reported to the major credit bureaus. This way, you can establish a good payment history and improve your credit score. This will come in handy if you ever need to take out a business loan or line of credit.

  4. Accept Credit Cards: In today's world, it's crucial to be able to accept credit cards as payment. This is because more and more people are using this method of payment, and if you're not able to accept it, you could be missing out on sales. With a business checking account, you can easily set up a merchant account so that you can start accepting credit cards. This will help you increase your sales and customer base.

  5. Audit Protection: Businesses are always at risk of being audited by the IRS. This can be stressful and costly, but with a business checking account, you can have peace of mind knowing that your transactions are well-documented and organized. This way, if you are ever audited, you'll have everything you need to prove your expenses and deductions.

Top Business Bank Options As Of November 30, 2022

Bank

24/7 Live Support

Explore

Top Business Checking Accounts

BlueVine's online Business Checking account is perfect for small businesses that don't need in-person services and want to avoid fees. To list a few, there are no monthly balance fees, minimum account fees, or NSF (non-sufficient funds) penalties. Plus, the interest rate offered rivals even the best high-yield online savings accounts.

Pros

Cons

If you are a business owner searching for a bank that pays attention to small businesses, Grasshopper Bank could be an excellent choice for you. Entrepreneurs who are just starting out will find the free business banking feature very useful. Additionally, this bank has great features like a high-interest checking account, cashback debit card, and unlimited free transfers. Although it does not have any physical locations, all your banking can easily be done online or through the mobile app.

Pros

Cons

Live Oak Bank offers one of the highest bonuses on the market for business banking, making it an ideal choice for those looking for an extra cash bonus while starting out. The current bonus is currently at $300, and there is only a 1-cent minimum balance required to earn interest. In addition, there are no monthly maintenance fees or earning caps. Live Oak Bank also provides other services such as high-yield business certificates of deposit (CDs), business checking, and small business loans.

Pros

Cons

SmartWealthTrends
Logo
Enable registration in settings - general