15 Best Business Bank Accounts

When it comes to managing your business finances, choosing the ‘best business bank accounts’ is crucial. Whether you’re a startup, a small business, or a large enterprise, the right account can help you manage cash flow, save on fees, and earn interest on your deposits. Here, we’ve compiled a list of the 15 best business bank accounts for 2024, considering various needs and priorities, including low fees, high interest rates, and ease of access.

1. Bluevine Business Checking

The Bluevine checking account, for example, pays one of the highest interest rates you can get on a business checking right now at 2.0% APY on balances up to $100K. There is no monthly fee, nor are there any minimum balance requirements to open the card (making it suitable for small businesses that want to earn on their cash deposits). In addition, Bluevine has a user-friendly online banking platform that allows you to effectively manage your money anywhere.

2. American Express® Business Checking

If you like to go with a name, the American Express Business Checking account is going great. This account allows smaller balances without the monthly fees and a 1.30% APY is competitive on this list for businesses that do not want to have their balance threatened by fees. On top of all that, American Express offers excellent customer service and online banking tools.

3. Chase Business Complete Banking®

Chase Business Complete Banking® is ideal for businesses that prefer a bank with a strong brick-and-mortar presence. While it has a $15 monthly fee, this can be waived with a $2,000 minimum balance or $2,000 in purchases on your Chase Ink Business credit card. Chase offers extensive support through its vast network of branches and ATMs, making it convenient for businesses that deal with cash deposits frequently.

4. Grasshopper Business Checking Account

Small business owners with a high checking account balance. Why we like it: Grasshopper is an excellent option for small business accounts, paying up to 2.25% APY. You can earn interest without the hassle of maintenance fees or monthly minimums. The online-only bank also offers cash back on debit card purchases, a rare feature for business accounts. This online business bank is ideal for tech-savvy owners who rely on their phones to track finances easily.

5. LendingClub Tailored Checking

LendingClub’s Tailored Checking is another high-interest option, offering up to 1.50% APY. This account is best for businesses that maintain a higher balance, as it requires a $500 minimum balance to avoid a $10 monthly fee. In addition to the competitive interest rate, LendingClub offers cash-back rewards on debit card purchases, adding extra value to your everyday spending.

6. Axos Bank Business Checking

Best for avoiding monthly fees: Axos Bank No minimum balance with up to 1.0% APY, Axos Bank keeps banking simple and fuss-free for everyone. In addition to that, the bank offers a series of other financial products created exclusively for small businesses — making it a flexible choice for fast-growing ventures.

7. Novo Business Checking

Novo is designed specifically for small businesses and startups, offering an entirely fee-free experience. There are no minimum balance Slot gacor hari ini requirements, and Novo integrates seamlessly with a range of business tools like Stripe, QuickBooks, and Shopify. While Novo doesn’t offer interest on deposits, its ease of use and lack of fees make it a strong contender for businesses focused on simplicity.

8. Rho Business Banking

Rho Business Banking is best for high-growth companies, larger businesses, or those with more complex financial needs. It offers the ability to earn up to 2.75% APY with no balance requirements and provides a full range of financial tools, including corporate cards and expense management software. The utility of Rho capital lies in streamlining business finances, making it an ideal option for firms with aggressive scaling goals.

9. Bank of America Business Advantage Fundamentals™ Banking

Bank of America offers a robust option with its Business Advantage Fundamentals™ Banking account. While there is a monthly fee of $16, it can be waived by maintaining a $5,000 combined average monthly balance. This account is especially useful for businesses that need branch access and prefer to bank with one of the largest financial institutions in the U.S.

10. Found Business Banking

Found is new to the business banking scene, designed for freelancers and independent contractors. Found: With no monthly fees and up to 1.50% APY, Found combines basic banking features with invoicing & tax tools making a complete suite for solo entrepreneurs in the gig economy.

11. Lili Business Checking

Lili is a good option for freelancers and small business owners with their combination of banking and bookkeeping features. Lili is a great choice for those who want to make money on their balances, offering up to 4.15% APY. It also includes things like tax built-in saving features, which can make it simpler for solo business owners to manage their finances.

12. U.S. Bank Silver Business Checking

U.S. Bank’s Silver Business Checking is perfect for businesses with low transaction volumes. There are no monthly fees as long as you don’t exceed 125 transactions per month. This account is a good fit for small businesses or startups that don’t need a high number of monthly transactions and want to avoid fees.

13. Square Business Banking

Square’s Business Banking: Best for those already using square credit card processing. No monthly fees and Square sales are deposited instantly to the Square Business Checking account. This kind of seamless integration earns square high marks for businesses wanting fast access to their funds.

14. Capital One Spark Business Checking

Capital One’s Spark Business Checking account is another strong option for businesses that prefer traditional banks. With no fees and no minimum balance, this account offers a solid combination of flexibility and convenience. Capital One’s extensive network of ATMs and branches provides easy access to cash deposits and withdrawals.

15. Live Oak Bank Business Savings

While primarily known for its savings account, Live Oak Bank also offers a competitive business checking account. It provides up to 1.0% APY on deposits and has no monthly fees, making it a great choice for businesses looking to earn interest on their operational funds.

The Bottom Line

Selecting the right business bank account is a key step in ensuring your company’s financial success. Whether your priority is earning interest, avoiding those pesky fees, or having easy access to a local branch, there’s a perfect option for you. By aligning your choice with your business’s specific needs, you’ll set yourself up for smoother financial management, making your day-to-day operations just that much easier.