Best Free Business Accounts

Few fee-free business checking accounts charge as fewer fees than American Express Business Checking. This means you have very little to lose if you don’t have a lot to invest, become overdrawn, or have insufficient funds.

And although the American Express Business Checking account charges out-of-network ATM fees, it also relies on the Moneypass ATM network, which gives account holders access to approximately 40,000 fee-free ATMs nationwide.

The account rewards cardholders with American Express Membership Rewards points on purchases, which is unique in the world of totally free business checking accounts.

The American Express Business Checking Account offers 24/7 remote support and a long list of fee-free transactions, including no minimum deposit to open the account. Plus, you’ll earn one Membership Rewards point for every two dollars you spend.

This account features a 1.30% APY on the first $500,000, no monthly fees, and is FDIC insured up to $250,000.

Along with no fees on most transactions—including overdraft fees, insufficient funds, stopped payments, and returned items—you’ll also have access to approximately 40,000 fee-free ATMs nationwide.

If you’re traveling abroad or accessing an ATM outside of your network, Nbck’s Business Checking account also reimburses up to $12 per month in ATM fees.

Although you’ll only find four in-person locations for Nbkc, you’ll still have access to nearly any ATM thanks to a partnership with Moneypass and the ability to receive fee reimbursements. Along with no balance minimums and no deposit required to open, the Nbkc Business Checking account is simple to maintain, no matter what type of business you run.

This account is FDIC insured up to $250,000.

Navy Federal Credit Union is well-known for how it treats its customers and this business checking account is no different. With 24/7 access to representatives and 350 branches worldwide, accessing your account is simple.

Most account holders also are able to receive two free notarizations per week (with the exception of California and Louisiana), which can provide substantial savings if you’re a frequent user.

However, be wary of fees; this account charges overdraft fees, insufficient funds fees, and a $0.25 transaction fee after 30 non-electronic transactions per month.

You’ll need at least $250 to fund the Navy Federal Business Checking account, but after that, you won’t need to maintain a minimum balance, which makes this account simple to keep open.

Aside from this, account holders can take advantage of a low 1% foreign transaction fee and similarly low bank wire fees. Combined with free notary services, this account can make sense for those who will take advantage of such offerings.

The APY for this business account is 0.01% with no balance limit. It’s insured by the NCUA for up to $250.000.

Bluevine’s 2.0% APY is industry-leading for a free business checking account. This makes it easy to earn interest on your balance without needing to swap between savings accounts, certificates of deposit, or other high-yield products.

Equally interesting is the ability to complete cash deposits via Green Dot. It’ll cost you $4.95 to do so, but you’ll have access to deposits at more than 90,000 locations nationwide.

The Bluevine Business Checking account features a high 2.0% APY, but only if you meet qualifying requirements. This means either spending $500 in a calendar month with your debit card or receive/deposit $2,500 in client payments in a calendar month. This can be done through ACH, wire transfer, mobile deposit, or as a transfer from your merchant payment processing provider.

Bluevine’s banking services are provided by Coastal Community Bank, which is FDIC insured up to $250,000.

Although the Axos Bank Business Checking account doesn’t pay any interest, it does have a number of other notable features. The most exciting is the $200 bonus for new businesses. You’ll need to show your business formed after June 1, 2020. and maintain an average daily balance in the account of at least $2,500 to earn it.

And then there are the fee reimbursements Axos offers. These reimbursements extend to unlimited ATMs fee reimbursements within the United States, and also includes two domestic wire fee reimbursements each month. If you’re a frequent user, that can easily add $40 of savings back into your pocket every month.

Note that there are both overdraft and insufficient funds fees, although you won’t have to pay a monthly maintenance fee, even if your account balance is at zero.

If your business is not “new,” you’re still eligible for a bonus. Rather than the $200 welcome bonus for new businesses, you’ll receive $100.

This account is FDIC insured up to $250,000.

U.S. Bank is easily accessible to millions of customers with more than 2,000 branches in 26 different states. This makes it a great option for those dealing in cash transactions, with the ability to deposit up to $2,500 (or 25 transactions) each month at no cost.

There is currently a limited-time welcome bonus when you sign up for this account. By entering in the code Q1BUS23 during your application, you’ll receive a free $500 bonus after completing qualifying activities. This offer expires March 31, 2023.

Account holders will also receive 125 free transactions per statement cycle; after this, it’ll cost you $0.50 for every transaction.

As a new business checking account customer, you’ll receive a 50% discount on your first check order, up to $50. This offer is only valid during the first 90 days of account opening.

U.S. Bank and your business checking account are insured up to $250,000.

Lili is a fintech banking solution for those looking to stay digital. Lili Basic, which requires no monthly fees, is light on the benefits but includes a heavy-duty app that’ll help you organize your expenses. This potentially makes it one of the best free small business accounting software products available for banking accounts.

And since it utilizes the MoneyPass network, customers with a Lili Basic checking account have access to approximately 40,000 fee-free ATMs across the nation.

Be aware of the fees associated with your Lili account, which include a $2.50 out-of-network fee in domestic locations and $5 when abroad. You’ll also be on the hook for a $5 card replacement fee after your first free card replacement.

Note that Lili itself is not a bank. Instead, it goes through Choice Financial Group, which is insured by the FDIC up to $250,000.