As a business owner, finding the right bank account can be a daunting task. With so many options available, it’s easy to get overwhelmed and make a decision that isn’t the best fit for your business. To help you narrow down your search, we’ve compiled a list of the top 10 best business bank accounts in 2023.
Top 10 Best Business Bank Accounts in 2023
Here are the top 10 best business bank accounts in 2023:
Chase Business Complete Banking
Bank of America Business Advantage Checking
Wells Fargo Business Choice Checking
Capital One Spark Business Checking
Azlo Business Checking
Novo Business Checking
BlueVine Business Checking
Axos Bank Basic Business Checking
BBVA Business Connect Checking
Huntington Unlimited Business Checking
1- Chase Business Complete Banking℠
Chase Business Complete Banking is a business checking account offered by JPMorgan Chase Bank. It is designed for small businesses and offers a range of features and benefits, including:
Low monthly fee: Chase Business Complete Banking has a low monthly fee of $15, which can be waived if you maintain a minimum daily balance or link the account to a qualifying Chase merchant services account.
No transaction fees: There are no transaction fees for electronic deposits and outgoing wires, and unlimited electronic deposits and incoming wires are included at no additional charge. You can also make up to 100 free transactions per month.
Free online banking and bill pay: Chase Business Complete Banking comes with free online banking and bill pay, which allows you to manage your account, pay bills, and track transactions online.
Mobile banking: You can also access your account on-the-go with Chase’s mobile banking app, which allows you to check balances, make deposits, and transfer funds from your mobile device.
Cash deposit limit: The account allows up to $5,000 in cash deposits per statement cycle without a fee.
Merchant services: You can also link your Chase Business Complete Banking account to Chase merchant services, which can help you accept credit and debit card payments.
Overall, Chase Business Complete Banking is a comprehensive business checking account that offers a range of features and benefits for small businesses.
2- Bank of America Business Advantage Checking
Bank of America Business Advantage Checking is a business checking account offered by Bank of America. It is designed for small businesses and offers a range of features and benefits, including:
Low monthly fee: Bank of America Business Advantage Checking has a low monthly fee of $29.95, which can be waived if you maintain a minimum daily balance, maintain a qualifying monthly average balance, or if you use at least one qualifying Bank of America merchant services account.
Transaction allowances: There are transaction allowances up to 500 transactions per month and up to $20,000 in cash deposits per month without a fee. Beyond that, transaction fees will apply.
Free online and mobile banking: Bank of America Business Advantage Checking comes with free online and mobile banking, which allows you to manage your account, pay bills, and track transactions online.
Merchant services: You can also link your Bank of America Business Advantage Checking account to Bank of America merchant services, which can help you accept credit and debit card payments.
Cash management services: The account includes cash management services like Positive Pay, which helps detect and prevent check fraud, and account management tools like CashPro.
Business specialist support: Bank of America Business Advantage Checking also provides business specialist support for account holders, which can help you manage your finances more effectively.
Overall, Bank of America Business Advantage Checking is a robust business checking account that offers a range of features and benefits for small businesses, including transaction allowances, free online and mobile banking, merchant services, cash management services, and business specialist support.
3- Wells Fargo Business Choice Checking
Wells Fargo Business Choice Checking is a business checking account offered by Wells Fargo. It is designed for small businesses and offers a range of features and benefits, including:
Low monthly fee: Wells Fargo Business Choice Checking has a low monthly fee of $14, which can be waived if you maintain a minimum daily balance or link the account to a qualifying Wells Fargo merchant services account.
Transaction allowances: There are transaction allowances up to 200 transactions per month and up to $7,500 in cash deposits per month without a fee. Beyond that, transaction fees will apply.
Free online banking and bill pay: Wells Fargo Business Choice Checking comes with free online banking and bill pay, which allows you to manage your account, pay bills, and track transactions online.
Mobile banking: You can also access your account on-the-go with Wells Fargo’s mobile banking app, which allows you to check balances, make deposits, and transfer funds from your mobile device.
Merchant services: You can also link your Wells Fargo Business Choice Checking account to Wells Fargo merchant services, which can help you accept credit and debit card payments.
Business specialist support: Wells Fargo Business Choice Checking also provides business specialist support for account holders, which can help you manage your finances more effectively.
Overdraft protection: You can also add overdraft protection to your Wells Fargo Business Choice Checking account, which can help prevent costly overdraft fees.
Overall, Wells Fargo Business Choice Checking is a reliable business checking account that offers a range of features and benefits for small businesses, including low monthly fees, transaction allowances, free online and mobile banking, merchant services, business specialist support, and overdraft protection.
4- Capital One Spark Business Basic Checking
Capital One Spark Business Basic Checking is a business checking account offered by Capital One. It is designed for small businesses and offers a range of features and benefits, including:
No monthly fees: There are no monthly fees with Capital One Spark Business Basic Checking, making it an affordable option for small businesses.
Unlimited transactions: There is no limit on the number of transactions you can make with this account, which includes both deposits and withdrawals.
Free online banking and bill pay: Capital One Spark Business Basic Checking comes with free online banking and bill pay, which allows you to manage your account, pay bills, and track transactions online.
Mobile banking: You can also access your account on-the-go with Capital One’s mobile banking app, which allows you to check balances, make deposits, and transfer funds from your mobile device.
Cash deposit allowances: The account comes with allowances of up to $5,000 in cash deposits per month and up to 20 cash deposits per month without a fee. Beyond that, a fee may apply.
Overdraft protection: You can also add overdraft protection to your Capital One Spark Business Basic Checking account, which can help prevent costly overdraft fees.
Additional services: Capital One Spark Business Basic Checking also provides additional services, such as payroll services, merchant services, and a range of credit card options.
Overall, Capital One Spark Business Basic Checking is a straightforward business checking account that offers a range of features and benefits for small businesses, including no monthly fees, unlimited transactions, free online and mobile banking, cash deposit allowances, overdraft protection, and additional services like payroll and merchant services. It is a great option for small businesses looking for a simple and affordable checking account.
5- Axos Bank Basic Business Checking
Axos Bank Basic Business Checking is a business checking account offered by Axos Bank, an online-only bank. It is designed for small businesses and offers a range of features and benefits, including:
No monthly maintenance fees: There are no monthly maintenance fees with Axos Bank Basic Business Checking, making it an affordable option for small businesses.
No minimum balance requirement: There is no minimum balance requirement to maintain with this account, which means you can keep your funds in your account without worrying about meeting a minimum balance.
Unlimited transactions: There is no limit on the number of transactions you can make with this account, including both deposits and withdrawals.
Free online and mobile banking: Axos Bank Basic Business Checking comes with free online and mobile banking, which allows you to manage your account, pay bills, and track transactions from anywhere.
Free ATM access: You can use any ATM in the U.S. for free with Axos Bank Basic Business Checking. Axos Bank also provides unlimited ATM reimbursements, which means you can use any ATM and not have to worry about paying any fees.
Cash deposit allowances: The account comes with allowances of up to $5,000 in cash deposits per month and up to 60 items per month without a fee. Beyond that, a fee may apply.
Overdraft protection: You can also add overdraft protection to your Axos Bank Basic Business Checking account, which can help prevent costly overdraft fees.
Additional services: Axos Bank Basic Business Checking also provides additional services, such as merchant services, remote deposit capture, and a range of credit card options.
Overall, Axos Bank Basic Business Checking is a simple and affordable business checking account that offers a range of features and benefits for small businesses, including no monthly fees, no minimum balance requirement, unlimited transactions, free online and mobile banking, free ATM access, cash deposit allowances, overdraft protection, and additional services like merchant services and remote deposit capture. It is a great option for small businesses looking for a straightforward and convenient checking account.
6- Azlo Business Checking
Azlo Business Checking is a digital business checking account that is designed for entrepreneurs, freelancers, and small businesses. It is an online-only bank that provides a range of features and benefits, including:
No monthly fees: There are no monthly fees associated with Azlo Business Checking, making it an affordable option for small business owners.
No minimum balance requirements: There is no minimum balance requirement to open or maintain an account, which means you can keep your funds in your account without worrying about meeting a minimum balance.
Unlimited transactions: You can make an unlimited number of transactions with Azlo Business Checking, including both deposits and withdrawals.
Mobile banking: Azlo Business Checking comes with a free mobile app that allows you to manage your account, deposit checks, and pay bills from anywhere.
Online banking: You can access your account online, which allows you to manage your finances, track transactions and monitor your account balance.
Free ATM access: You can use any ATM in the U.S. for free with Azlo Business Checking. Azlo Bank also provides unlimited ATM reimbursements, which means you can use any ATM and not have to worry about paying any fees.
Digital invoicing: Azlo Business Checking also comes with digital invoicing, which allows you to create and send professional invoices to your clients.
Integration with third-party tools: Azlo Business Checking integrates with a range of third-party tools and services, such as PayPal, Square, and Stripe, making it easy to manage your business finances.
Overall, Azlo Business Checking is a digital business checking account that is simple and convenient for small businesses. It offers a range of features and benefits, including no monthly fees, no minimum balance requirements, unlimited transactions, mobile and online banking, free ATM access, digital invoicing, and integration with third-party tools. If you’re looking for a modern and digital solution for your business banking needs, Azlo Business Checking may be a good option for you.
7- BlueVine Business Checking
BlueVine Business Checking is an online business checking account designed for small business owners. It is a relatively new option in the market and has quickly gained popularity due to its competitive features and benefits. Some of the key features and benefits of BlueVine Business Checking include:
No monthly fees: There are no monthly fees associated with BlueVine Business Checking, which makes it a cost-effective option for small business owners.
No minimum balance requirements: BlueVine Business Checking has no minimum balance requirements, so you can keep your funds in your account without worrying about maintaining a minimum balance.
Unlimited transactions: BlueVine Business Checking offers unlimited transactions, including both deposits and withdrawals.
Free ATM access: You can use any ATM in the MoneyPass network for free with BlueVine Business Checking. If you use an ATM outside of the MoneyPass network, BlueVine will reimburse up to $15 per month in ATM fees.
Mobile banking: BlueVine Business Checking comes with a mobile app that allows you to manage your account, deposit checks, and pay bills from your phone.
Online banking: You can access your account online, which allows you to manage your finances, track transactions, and monitor your account balance.
Integration with third-party tools: BlueVine Business Checking integrates with a range of third-party tools and services, such as PayPal, Stripe, and QuickBooks, making it easy to manage your business finances.
Invoicing: BlueVine Business Checking offers an invoicing feature that allows you to create and send professional invoices to your clients.
2.0% interest rate: BlueVine Business Checking offers an interest rate of 2.0% on balances up to $100,000.
Overall, BlueVine Business Checking is a modern and digital solution for small business banking needs. It offers a range of features and benefits, including no monthly fees, no minimum balance requirements, unlimited transactions, free ATM access, mobile and online banking, integration with third-party tools, invoicing, and a competitive interest rate. If you’re looking for a modern and convenient option for your business banking needs, BlueVine Business Checking may be a good option for you.
8- Novo Business Checking
Novo Business Checking is a digital banking solution designed specifically for small business owners. It is an online-only bank, which means that all of your transactions and account management can be done through their mobile app or website. Some of the key features and benefits of Novo Business Checking include:
No monthly fees: There are no monthly fees associated with Novo Business Checking, making it a cost-effective option for small business owners.
No minimum balance requirements: Novo Business Checking has no minimum balance requirements, so you can keep your funds in your account without worrying about maintaining a minimum balance.
Unlimited transactions: Novo Business Checking offers unlimited transactions, including both deposits and withdrawals.
ATM fee reimbursement: Novo Business Checking reimburses all ATM fees charged by other banks worldwide, so you don’t have to worry about finding an ATM in your bank’s network.
Mobile banking: Novo Business Checking comes with a mobile app that allows you to manage your account, deposit checks, and pay bills from your phone.
Online banking: You can access your account online, which allows you to manage your finances, track transactions and monitor your account balance.
Integration with third-party tools: Novo Business Checking integrates with a range of third-party tools and services, such as Slack, Xero, and QuickBooks, making it easy to manage your business finances.
Invoicing: Novo Business Checking offers an invoicing feature that allows you to create and send professional invoices to your clients.
Business tools and resources: Novo Business Checking provides access to a range of business tools and resources, such as business insights and expense categorization, to help you manage your finances more effectively.
Overall, Novo Business Checking is a modern and digital solution for small business banking needs. It offers a range of features and benefits, including no monthly fees, no minimum balance requirements, unlimited transactions, ATM fee reimbursement, mobile and online banking, integration with third-party tools, invoicing, and access to business tools and resources. If you’re looking for a modern and convenient option for your business banking needs, Novo Business Checking may be a good option for you.
10- PNC Bank Business Checking
PNC Bank offers a range of business checking accounts to meet the needs of small and large businesses alike. Their most popular business checking account is PNC Business Checking. Here are some of the key features and benefits of this account:
Low monthly fees: PNC Business Checking has a low monthly maintenance fee that can be waived by meeting certain criteria, such as maintaining a minimum average balance or making a certain number of transactions each month.
Multiple account options: PNC Business Checking offers multiple account options, including an interest-bearing account and an account for nonprofits.
Cash deposit limits: PNC Business Checking has a high cash deposit limit, which makes it a good option for businesses that handle a lot of cash.
Free transactions: PNC Business Checking offers a certain number of free transactions each month, after which a fee is charged.
Overdraft protection: PNC Business Checking offers overdraft protection to help you avoid costly overdraft fees.
Online and mobile banking: PNC Business Checking offers online and mobile banking, which allows you to manage your account, deposit checks, and pay bills from your phone or computer.
Business tools and resources: PNC Bank offers a range of business tools and resources, such as cash flow management tools, online invoicing, and payroll services, to help you manage your finances more effectively.
Merchant services: PNC Bank offers merchant services, which allows you to accept credit and debit card payments from your customers.
Business credit cards: PNC Bank offers a range of business credit cards, which can help you manage your expenses and earn rewards.
Overall, PNC Business Checking is a good option for businesses that need a checking account with a low monthly fee, multiple account options, high cash deposit limits, free transactions, overdraft protection, online and mobile banking, and access to a range of business tools and resources. If you’re looking for a reliable and comprehensive business checking account, PNC Business Checking may be a good choice for you.
TD Bank Business Convenience Checking
TD Bank Business Convenience Checking is designed for small businesses with low transaction volumes and basic banking needs. Here are some of the key features and benefits of this account:
Low monthly fees: TD Bank Business Convenience Checking has a low monthly maintenance fee that can be waived by maintaining a minimum daily balance or by making a certain number of transactions each month.
Limited transactions: This account is designed for businesses with low transaction volumes. It offers a limited number of free transactions per month, after which a fee is charged for each additional transaction.
Cash deposit limits: TD Bank Business Convenience Checking has a cash deposit limit, which makes it a good option for businesses that handle small amounts of cash.
Online and mobile banking: TD Bank Business Convenience Checking offers online and mobile banking, which allows you to manage your account, deposit checks, and pay bills from your phone or computer.
Business tools and resources: TD Bank offers a range of business tools and resources, such as online invoicing and payroll services, to help you manage your finances more effectively.
Business credit cards: TD Bank offers a range of business credit cards, which can help you manage your expenses and earn rewards.
Overdraft protection: TD Bank Business Convenience Checking offers overdraft protection to help you avoid costly overdraft fees.
Overall, TD Bank Business Convenience Checking is a good option for small businesses with basic banking needs and low transaction volumes. If you’re looking for a simple and affordable checking account with basic features, TD Bank Business Convenience Checking may be a good choice for you. However, if you have higher transaction volumes or more complex banking needs, you may want to consider one of TD Bank’s other business checking accounts.
Benefits of Choosing the Right Business Bank Account
Choosing the right business bank account can bring significant benefits to your business. Here are some of the benefits you can enjoy by choosing the right business bank account:
Access to business credit: A good business bank account can help you build a good credit score, which is essential for securing business loans and lines of credit.
Lower fees: Choosing the right business bank account can help you save money on fees, such as transaction fees, account maintenance fees, and ATM fees.
Better interest rates: Some business bank accounts offer higher interest rates than others. By choosing a business bank account with higher interest rates, you can earn more money on your deposits.
Improved cash flow management: With the right business bank account, you can manage your cash flow more effectively by automating payments and tracking expenses.
Improved financial reporting: Some business bank accounts offer tools that can help you track and analyze your financial data, which can be beneficial for making informed business decisions.
Conclusion
Choosing the right business bank account is an important decision for any business owner. By selecting a business bank account that suits your specific needs, you can enjoy benefits such as improved cash flow management, access to business credit, and lower fees. In this article, we have discussed the top 10 best business bank accounts in 2023, along with their features, benefits, and fees. We hope that this information helps you make an informed decision when choosing a business bank account for your business.
