best bank for small business checking

Whether you're a startup or an established small business, CitiBusiness® offers interest and non-interest checking accounts, Small Business Banking. Based on our research, KeyBank came out on top as the best bank for business checking accounts. Most checking accounts will allow you to deposit. Keesler Federal Credit Union offers business checking and savings bank accounts, plus IOLTA, money market, and share certificates.
best bank for small business checking

: Best bank for small business checking

Best bank for small business checking
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Business Checking Accounts

Premier Analysis

Complex transactions and high-volume banking? This account can handle it. Plus, the $15 monthly service charge may be offset by your Premier Analysis earnings credit. Contact a Business Banking Specialist today for your personalized proposal and current account comparison.

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Business Interest

Reap the rewards of a deep banking relationship with Business Interest Checking. Earn interest on your checking balance, get unlimited support from our Business Banking team, and waive your $12 service charge with:

  • Enrollment in Merchant Services, OR
  • $10,000 minimum Business Interest Checking account balance, OR
  • $50,000 combined deposit and loan balances†† at Bank Independent.

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Small Business

Small Business Checking is the perfect account for start-ups and other companies with everyday business banking needs and relatively lower paper check and cash transaction volume. We'll waive your $10 service charge with:

  • Enrollment in Merchant Services, OR
  • $5,000 minimum Small Business Checking account balance, OR
  • $25,000 combined deposit and loan balances†† at Bank Independent.

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Micro Business

With our Micro Business Checking account, get the convenience of paperless on-the-go banking with no monthly service charge, no minimum balance requirements and fee-free processing of up to 25 items per month. An additional charge will apply to process more than 25 items.

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Non-Profit Checking

Do you manage the finances for a charitable association, religious group, educational organization, or another tax-exempt entity? Visit a Relationship Banker at your local Bank Independent Sales Office today to learn more about our Non-Profit Checking account.


Debit Cards

Your Bank Independent Debit Card bundles purchasing power, convenience, state-of-the-art security and even simplified savings into one convenient package. Learn more here.


Need More Checks?  Order Your Checks Here


††The combined balance is calculated by adding the lowest daily balance that occurred in each of your deposit and loan accounts during your statement cycle.

Источник: https://www.bibank.com/business/bank/checking
  • Avoid the $20 Monthly Maintenance Fee (Service Charge) by maintaining a minimum daily balance of $2,500.
  • This non-interest bearing account provides up to 200 transactions processed without additional charge each statement cycle. Transactions include deposits, transfers, and payments made by check, converted check, ACH, ATM, online or mobile banking or online or mobile Bill Pay.
  • As much as $10,000 of currency is processed without additional charge each statement cycle, including cash or coin provided or deposited.
  • Fees are assessed for excess activity: $0.35 per transaction and $0.30 for each $100 of currency processed.
  • Available to all businesses.
  • $100 Minimum Opening Deposit

Click below to review our current fee schedule and account agreement and disclosures:

BUSINESS FEE SCHEDULE

BUSINESS DEPOSIT ACCOUNT AGREEMENT AND DISCLOSURES

To open a Small Business Checking account, please visit any Tri Counties Bank branch.

Источник: https://www.tcbk.com/business/accounts/small-business-checking

Final Verdict

From sign-up bonuses to easy cash deposits, business bank account features can vary greatly. Consider all the characteristics before choosing where to bank.

Whatever perk or feature most matters to you, having the right business bank account is crucial to your business. This account is where your deposits are made and best bank for small business checking are paid.

And, as your business continues to grow, it makes sense to re-evaluate your business bank account each year. Pay attention to the transaction limits, fees, restrictions, and benefits to ensure that yesterday's account is the right one for your business today—and tomorrow, as well.

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Business Bank Accounts FAQs

What Is a Business Bank Account?

A business bank account is a checking account set up specifically for business incomes and outflows, allowing individuals to keep their professional financial affairs and transactions separate from their personal ones. Business accounts often provide features that are uncommon for individual accounts. These features include initiating wires or ACH payments, delegating account authority/privileges to other parties (like an employee or accountant), and cash management tools like positive pay.

What Is the Difference Between a Business Bank Account and a Personal Bank Account?

Although business bank accounts and personal bank accounts are similar in many ways, the do have their differences. A business bank account has more requirements to open than a personal account.

Fees and required balances also tend to be higher for business bank accounts, while interest rates are lower. Business bank accounts usually allow a limited number of transactions before the bank charges additional fees.

Since a business bank account represents the business and not a person, authorized signers can be added or removed at any time without needing to close the account.

What Do You Need to Open a Business Bank Account?

Requirements to open a business bank account vary by the financial institution. However, most banks require the following:

  • Employer Identification Number (EIN) or Social Security Number for sole proprietors
  • Business formation documents
  • Ownership agreements
  • Business license

Account signers need to bring their personal identification to open the account. Most banks require an initial deposit to fund the account when it is opened; the minimum opening deposit requirements vary by the bank—and can be a key factor, along with ongoing minimum account balances, to consider when choosing one.

Can I Open a Business Bank Account Online?

Yes, there are many banks that allow you to open an account online in just a few minutes. Several of these banks are mentioned above. To open your business bank account online, the bank will require all of the same paperwork as if you opened the account in person.

Can I Use My Personal Bank Account for My Small Business?

You can use your personal bank account for a small business, like a sole proprietorship. However, it is best not to. Having a dedicated bank account for your business allows you to keep your business deposits and expenses separate from personal transactions. This is very important when it comes to filing taxes.

Do I Need a Business Account If I'm Self-employed?

You do not need a separate business account if you are operating your business under your own name. However, it is recommended that you have a dedicated, separate bank account to make it easier to track business revenue and expenses.

If you are operating your sole proprietorship under a fictitious business name or as a separate legal entity (e.g. C-Corp, S-Corp, LLC), then you need to have a separate business bank account.

Is It Legal to Transfer Money From a Business Account to a Personal Bank Account?

Yes, it is legal to transfer money from a business account to a personal account. However, if you have partners or shareholders in your company, it is not advisable to make such a transfer without their written consent. All transactions into and out of a business account should be documented for good recordkeeping, tax purposes, and in case of an audit.

Some banks allow you (and, like Chase, even encourage you) to link your personal and business accounts. Depending upon the legal structure of your business, some banks even allow your business and personal accounts to be viewed on the same online banking screen. This makes transfers between accounts simple and quick.

Methodology

Research for this article encompassed business bank accounts from across the U.S. We evaluated the benefits offered, transaction limits, fees charged, and customer service of each business bank account reviewed to determine the "best of" designation for each category.

Источник: https://www.investopedia.com/best-small-business-bank-accounts-4797849

Best Banks for eCommerce Business

Once you've decided you're starting an eCommerce business and have your eCommerce business license, you need to start looking at what bank you'll use.

Not all banks are capable of keeping up with the fast-paced world of eCommerce.

Download Our Free Starting eCommerce eBook

You'll need to make sure that the bank you choose can help your business grow and give you the tools to succeed. It will also make eCommerce accounting much easier, since you'll know where your money is and how it's growing.

We've put together a guide on the best bank accounts and banks for eCommerce businesses to help you make an informed choice.

Best Bank Account for eCommerce Business

There are many bank account options for eCommerce businesses, but a checking account is the most important. We've put together a list of the five best free checking accounts available. There are many types of eCommerce businesses, so we ranked these accounts based on their overall value.

Here's how we ranked them:

eCommerce Bank Ranking Criteria
  • Cost. If you're running an eCommerce startup, you know that money can be tight. You don't want an account that costs you money every month just to keep it open.
  • Limits. Transaction limits, minimum balance requirements, and the inability to access your account on the go can hamper your buying power. Small eCommerce business owners are better served by accounts that help their business, not hamper them.
  • Features. Mobile bank apps are one of the best features for a small eCommerce business bank account. There are a few other useful features to look for as well, including transaction alerts, mobile deposits, and ACH transfer options.
  • Integration. Many accounts can actually be integrated into other services you use like Quickbooks, Stripe, and more. Though not necessary, this is a nice feature that can bring value to some eCommerce businesses.

1.Novo

Novo is a much newer business banking solution but it was built specifically around mobile banking for small business owners. This means you won't run into any tech issues and it can be integrated into most online storefronts.

The best thing about Novo is that all of its features are entirely free. This includes a Mastercard debit card, unlimited transactions, transaction alerts, and ATM refunds. Even better, it comes with Google Cloud credits and zero-cost processing from Stripe. If you come up with profitable eCommerce business ideas regularly, you definitely want an account that you can grow with. Whether you own your site or use an online marketplace, we think Novo is the best choice for you.

2. NorthOne

Like Novo, NorthOne is a modern banking solution for small businesses and freelancers. They offer an FDIC-insured business banking account with API connectivity to PayPal, Square, Quickbooks, and many other tools. Even better, it only takes three minutes to set up and for a flat fee of $10, you get unlimited transactions and no hidden fees.

The best thing about NorthOne is the user-friendly mobile banking. For small businesses and entrepreneurs, this can make all the difference as you have access to your account and reports 24/7. You can even order extra debit cards for your team within the app!

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3. Chase Business Complete Checking

Unsurprisingly, one of the 10 largest banks in the world also has some of the best offerings for eCommerce businesses. Chase Business Complete (formerly Chase Total Business) is the perfect all-in-one account for a small- to mid-sized business.

In addition to a slew of incentives they offer for opening an account, they've also got a pretty robust mobile app. It also comes with all the typical offerings like an extensive ATM network, debit cards, ACH transfers, and mobile depositing. That way you'll always be able to accept an eCommerce payment.

The only real drawback to the Chase Business Complete Checking account is that it has a monthly fee. This fee of $12 is waived as long as there is $1,500 in the account regularly.

Still, the benefits far outweigh this potential cost. If you come up with profitable eCommerce business ideas regularly, you definitely want an account that you can grow with.

4. TIAA Small Business Checking

The second of the larger banks on our list is TIAA Bank. Their Small Business Checking is a great option for small eCommerce businesses that want a long-term banking option. It has no monthly fees, ATM reimbursement, and convenient mobile check deposits.

One drawback of this account is that it requires $1,500 to open, which may be tough for a startup. That being said, it also offers an APY of 1.21% for the first year, which is higher than many savings accounts. If you have the capital and expect to grow quickly, this is a very good account option.

5. Axos Small Business Banking

The oldest online bank in the U.S., Axos is built conveniently to serve eCommerce businesses. There are no physical locations, but your money can be accessed from any ATM in the U.S. and fees will be reimbursed. Accounts are also free to open and have no minimum balance requirements. New business owners can even get $100 when opening an account.

The negatives for Axos are that you are limited to 200 free transactions per month, after which you're charged $0.30 per transaction. They also don't offer credit cards and customer support hours are not always convenient.

Best eCommerce Bank

Choosing a bank for your eCommerce business can be complicated, so we've broken it out into a few categories that you may fall under. Unlike our list of checking accounts, here we're looking at banks with a narrow lens.

Here are the best banks:

Best Overall Bank for Small eCommerce Businesses: Chase

Not only did Chase top our list of checking accounts, but they're the best option for small businesses. With more than 5,000 locations and 16,000 ATMs across the globe, you'll always have physical and digital access to your accounts. They also have multiple tiers of business accounts so you can grow and stay with the same bank.

One of the best aspects of Chase is that they offer small business loans ranging from $10,000-$50,000. This capital may be vital in taking your business to the next level. Their credit card offerings are also some of the best on the market.

Best Credit Union for eCommerce Businesses: America First Credit Union

America First Credit Union is a Utah-based credit union with a number of co-operative banking agreements. These let its members access their accounts through more than 30,000 ATMs in the U.S. They also have a robust business loan program and offer a dedicated business credit card. It has multiple business best bank for small business checking account options and can assist with payroll, business

Unfortunately, like many credit unions, America First only operates in a handful of states. Luckily, If your business is in one of them, then you could do much worse.

Best for SBA Loans: Wells Fargo

Another prominent bank, Wells Fargo has a very strong set of offerings for small businesses. In 2019, they lent more than $140 million to small businesses. Even better, their average loan size is around $80,000.

That means you don't have to be in need of an astronomical sum best bank for small business checking get approved. They are a bit more traditional than some other banks on this list, but their customer service, number of locations, and financing options make up for it.

Best Sign Up Perks: Bank of America

Another big name in banking, Bank of America has some great incentives for small eCommerce businesses. They have multiple options for cashback when opening an account, getting a business card, and even spending. They also have locations all over the country so you can easily find a branch if you need to do some in-person banking.

Unfortunately, unlike Chase, Bank of America doesn't offer unlimited free transactions. They also limit the number of free cash deposits. If you're looking to open a second business account or won't be depositing money too often, this may be a great option.

Download Our Free Starting eCommerce eBook

Show Me the Money!

A business without a bank account is like a house without walls. It might function, but it's not going to be enjoyable. You need to make sure your money is protected and working for you. Pick the bank and account options that best match your company's needs and growth goals.

If you're a very thorough planner, try to include this information in your eCommerce business plan template. This will signal to investors that you have a good financial plan and keep you focused. You should also make sure to pick up some eCommerce business insurance. You don't want to end up draining that new bank account on lawsuits.

We also recommend picking up some eCommerce books and reading an eCommerce blog or two so you can learn about the current trends and continue to grow your business and fill up that new bank account.

Frequently Asked Questions About eCommerce Banking

Though eCommerce banking has similarities to personal banking, there are key differences to be aware of. If you’re doing business banking for the first time, you’re likely asking a few common questions. Check out our answers to these frequently asked questions below: 

Do I need a business bank account for eCommerce?

Yes, you should set up a business bank account for your eCommerce venture. There are multiple benefits to keeping your first hawaiian bank hours aiea transactions separate from personal ones. 

One, it simplifies accounting because you don’t need to separate personal purchases. Two, it’s much easier to assign expenses to specific accounts on a monthly basis. Three, your business taxes and fees are kept separate from personal income. This offers peace of mind for all of your financial accounts. 

How much does it cost to open a business account?

Every business’s policies vary, but most banks will let you open a business checking account for $25-100. This isn’t a fee you pay to begin banking with the company, but a minimum balance required to open your account. 

Some businesses require a minimum daily balance of $1,000 or more, though this depends on what bank you use and their requirements. When opening a business account, review their terms carefully and make sure it’s a bank that works for your needs. If you have specific questions, contact one of their business representatives. 

What do I need to bring to open a business bank account?

There are several documents to bring when opening a business bank account, including the following: 

  • Employer identification number (EIN) or federal tax ID (FTID)
  • Articles of organization or incorporation (depending on business type)
  • Personal identification, including driver’s license and social security card
  • eCommerce, retail, and/or manufacturer’s license
  • Your Doing Business As or certificate of assumed name
  • Ownership agreements (who owns what and what amount in the business)
  • Current monthly business revenue

Your bank uses this information to keep accurate records and to simplify the sharing of information during tax season.

All offers, interest rates, and conditions are as of this writing and may have changed. Check with the respective bank for current details.

Источник: https://www.bluecart.com/blog/best-banks-ecommerce

Finding the right bank for your small business will streamline your finances and separate your personal needs from your business needs. The right small business bank can also allow you to focus on all the other tasks you'll face as a business owner. We looked at loans, deposit accounts, credit cards and business resources to find the best bank for small businesses in each category.

Best for small business loans: Huntington National Bank

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Huntington National Bank is not only a top provider of various loans for small businesses, but it’s also a top provider of U.S. Small Business Administration (SBA) 7(a) loans, which are the primary types of loans the SBA provides to assist small businesses. They can be used for real estate, short- and long-term working capital and the purchase of furniture, fixtures and supplies for your business.

Small business products and services: Besides leading in SBA-guaranteed business loans, Huntington National Bank also offers other small business loans. If you need help expanding your business, you might benefit from one of the bank’s business term and real estate loans — and they also offer loans designed specifically for dental and veterinary practices. Huntington National Bank also provides business lines of credit for managing cash flow and purchasing inventory.

In addition, Huntington National Bank offers small business checking and savings accounts, money market accounts, small business insurance and payables and receivables management resources.

Customer experience: Huntington National Bank has a network of more than 1,100 branches and 1,700 ATMs. Customers can bank in-person in Ohio, Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Pennsylvania, South Dakota and West Virginia — or online and through the bank’s mobile app.

Best for highest business checking account APY: Lafayette Federal Credit Union

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Lafayette FCU’s Business Performance Checking account requires $1,000 to open and has a $20 monthly maintenance fee — but comes with a 1% APY on balances $1,000 and above. To qualify for the APY, you must either open a Lafayette Federal Business credit card or line of credit or use one or more business service products, which include remote deposit capture, ACH SmartPay, Paychex Payroll or FirstData Merchant Services. This account also includes unlimited transactions.

Small business products and services: In addition to the high APY for its business checking account, Lafayette FCU offers small business owners a basic business checking account that does not earn interest, in addition to money market accounts and CDs. Small business owners can also apply for business credit cards and loans with the credit union, and have the option to offer employee compensation packages through Lafayette FCU, if you enroll your business as a Select Employee Group.

Customer experience: Lafayette FCU requires membership. You’re eligible if you live or work in Maryland, D.C. or Virginia, or become a member of the American Consumer Council for $8 or the Home Ownership Financial Literacy Council for $10. There are 6,000 shared branches nationwide along with an extensive network of fee-free ATMs. You can also bank online or through the credit union’s iPhone or Android mobile apps.

Best for small business checking account options: Capital One

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Capital One offers two business checking accounts.

AccountSpark Business Basic CheckingSpark Business Unlimited Checking
Business transactionsUnlimitedUnlimited
Cash depositsFree up to $5,000 per month, then $1 for each additional $1,000Free
Wire transfers$15 per incoming domestic or foreign wire $25 per outgoing domestic wire $40 per outgoing foreign wireFirst five domestic wires per month are free (after that, $15 per incoming domestic wire and $25 per outgoing domestic wire) $15 per incoming foreign wire $40 per outgoing foreign wire if in foreign currency $50 per outgoing foreign wire if in U.S. dollars
Monthly fee$15 (or $0 if you maintain an average 30- or 90-day minimum balance of $2,000)$35 (or $0 if you maintain an average 30- or 90-day minimum balance of $25,000)

Small business products and services: Capital One’s small business products and services also include its Spark business credit cards (which allow you to earn miles or cash back on your purchases), small business loans, merchant services and cash flow management tools.

Customer experience: Capital One customers have access to more than 70,000 fee-free ATMs, which includes Capital One, MoneyPass® and Allpoint® ATMs and more than 770 branch locations. The bank also offers several tools for banking online such as mobile deposits, digital payments through Zelle and online billpay if you aren’t near any branches or ATMs.

Best for avoiding fees: PNC Bank

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Of the business checking accounts that PNC Bank offers (Business Checking, Business Checking Plus, Treasury Enterprise Plan and Analysis Business Checking), we’ve chosen its Business Checking Plus as the best for avoiding fees. There’s no monthly maintenance fee for the account’s first three statement cycles. After that, the fee is $20 a month, but there are several options for waiving it:

  • Maintain an average of $5,000 monthly collected balance
  • Deposit a minimum of $5,000 monthly payment proceeds from a PNC Merchant Services account
  • Make $5,000 in purchases with a linked PNC business credit card
  • Maintain $20,000 average combined balance in a linked PNC business checking and money market account

There is also no fee to set up overdraft protection for this account.

Small business products and services: PNC Bank offers a wide range of other small business products, such as business credit cards, loans and merchant services. Cash Flow Insight provides tools for operating your business through monitoring, planning and budgeting your spending.

Customer experience: There are 2,300 PNC Bank locations and 18,000 PNC and partner ATMs throughout the U.S. You can also bank online or through PNC’s mobile app, which provides access to Cash Flow Insight and Pinacle, a tool that helps streamline payments you make and receive. Pinacle also gives you access to PNC’s online treasury management services.

Best for small business credit cards: Chase Bank

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Chase Bank not only provides popular credit card rewards programs for consumers, but it also provides some of the best credit cards for small businesses. Chase Bank’s Ink line of business credit cards — detailed below — offer some of the highest rewards rates for business-related expenses. Rewards points can be used for cash, gift cards, travel and more. Even if your business expenses are low, you’ll likely find Chase offers more than one credit card option that can fit into your finances.

CardInk Business Unlimited® Credit CardInk Business Cash® Credit CardInk Business Preferred℠ Credit Card
APR0% Intro APR on Purchases for 12 months (then 13.24% - 19.24% Variable APR after that)0% Intro APR on Purchases for 12 months (then 13.24% - 19.24% Variable APR after that)15.99%-20.99% Variable APR
RewardsEarn unlimited 1.5% cash back on every purchase made for your businessEarn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.
Annual fee$0$0$95

In addition, Chase Bank offers co-branded Southwest and United credit cards.

Small business products and services: Chase Bank also offers small business loans and lines of credit, business checking and savings accounts, equipment best bank for small business checking trade financing, merchant services and resources for starting, managing and growing your business.

Customer experience: Chase Bank has more than 4,700 branches and 16,000 ATMs. You can also access additional services online and through the bank’s mobile app.

Best for branch access in the Midwest: U.S. Bank

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U.S. Bank is our first choice for small business owners located in the Midwest because of its large branch and ATM network around the U.S. — including throughout the heartland. It offers a vast selection of loans, and its Silver Business Checking Package comes with no monthly fee, a rare benefit you won't find at many other banks.

Given the importance of branch access to a strong business banking experience, Best bank for small business checking. Bank's locations make it a better choice for businesses operating in areas that may be neglected by the other national banks. In addition to participating as a lender in the SBA Express loan and 7(a) loan programs, U.S. Bank has its own loans for business development, commercial real estate and capital equipment.

Small business products and services: U.S. Bank also has three tiers of checking options for businesses, as well as a nonprofit checking account and a premium business checking account. Other business products and services include loans, credit cards, money market accounts and cash management and payroll services.

Customer experience: With one of the largest ATM networks in the U.S. and thousands of branch locations, you don’t have to be limited to living in the Midwest to get the most out of U.S. Bank’s business services. U.S. Bank also offers online banking and banking through its mobile app. You can also contact customer service 24/7 by phone.

Best for branch access in the Northeast: TD Bank

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TD Bank is one of the 10 largest banks in the U.S. and has most of its more than 1,200 branch locations in Northeastern states including Connecticut, Maine, Massachusetts, New Hampshire, Best bank for small business checking Jersey, New York, Pennsylvania, Rhode Island and Vermont.

Whether you're looking to expand your business with additional equipment purchases or new real estate, TD Bank offers loans with fixed rates based on your credit rating. More detailed information will best bank for small business checking visiting a branch and speaking with a banker about your specific needs.

Small business products and services: TD Bank’s Business Premier Checking account is one of the best available for the value. It includes higher monthly limits on your free transactions and cash deposits, a lower transaction fee and discounts on the bank's merchant services. TD Bank also offers small business loans, credit cards and prepaid cards as well as online accounting, payroll and merchant services.

Customer experience: TD Bank has over 1,200 branch locations and 700 ATMs. TD Bank also offers Small Business Online Banking and its mobile app for online accounting and making and receiving payments.

Summary of the best banks for small business

Small business loansHuntington National BankTop provider of U.S. Small Business Administration (SBA) 7(a) loans and other small business loans
Highest business checking account Annual Percentage Yield (APY)Lafayette Federal Credit UnionBusiness Performance Checking earns 1% APY ($1,000 minimum opening deposit)
Small business checking accountsCapital OneTwo small business checking accounts with unlimited free business transactions and waivable monthly fees
Avoiding feesPNC BankBusiness Checking Plus includes multiple ways to waive monthly fee and has no overdraft protection fee
Small business credit cardsChase BankInk line of business credit cards offers various reward points and cash back options
Small businesses in the MidwestU.S. BankVast number of branches and ATMs in the Midwest
Small businesses in the NortheastTD Bank1,200+ branches, with a large number in the Northeast

Finding the best bank for your small business

Many banks are ready to provide support to local 1st financial federal credit union routing number, so it's important to know how to evaluate your small business banking choices. Keep a few basic principles in mind as you continue your search for the best bank for your business.

  • Determine your needs: Banks provide businesses with three key products: loans, deposit accounts and payment processing. Breaking down your banking requirements along these categories can help you determine which bank is the best fit for your financial situation and business patterns.
  • Consider local: Like many aspects of operating a business, an effective banking relationship relies on cultivating personal relationships with your partners. Finding the best bank for a small business might mean shopping locally. While online banking and lending options can be helpful to people with lower credit scores, being able to meet with a banker in person can lead to more personalized services and terms that are more tailored to your specific needs.
  • Be flexible: While doing all your banking in one place can greatly simplify your finances, there's no reason to accept your current bank's solution to your business’s every financial need. For example, one bank might provide a better business credit card while another offers better terms on a commercial lease. As your business expands and your operating model changes, the way you need to handle money will probably change too. Being ready to reassess your banking setup is important to avoid stifling your growth at a key moment.

Methodology for determining best banks for small business

To find the best banks for small business, ValuePenguin looked at financial institutions from small community banks and credit unions to traditional brick-and-mortar banks and online banks. We update our list on a regular basis to ensure we’re providing readers with the most recent information.

We determined our list and rankings by considering the following factors:

  • Small business products and services: The most heavily-weighted feature of the best small business banks are the number and quality of products and services offered specifically to small business owners. This includes options for small business checking accounts, business credit cards and business loans. Banks with free or low-fee accounts and low minimum requirements, and low-fee/low-APR loans and credit cards are ranked higher than those that offer products with monthly or maintenance fees and high APRs for financing.
  • Small business benefits: Banks that also provide extra resources, such as tools, business software and guides for payroll and taxes that help small business owners manage their businesses are also ranked higher.
  • Accessibility: It is crucial for small business owners to access not only the bank or credit union for banking purposes but also customer service when there are questions or assistance is needed. We considered only banks and credit unions that are available nationally, online or through mobile apps.
  • FDIC-insured and NCUA-insured: It’s important for your business banking to be protected by FDIC and/or NCUA insurance in the case your financial institution were to fail. As such, we only included FDIC-insured and NCUA-insured banks and credit unions on our list.

FAQs

What is the best bank for small business?

The best bank for a small business will vary depending on what you need to grow and manage your business. If you need access to loans or lines of credit, you might choose the bank that offers the best small business lines. Likewise, if you’re looking for small business credit cards to use for making purchases and earning rewards, the bank offering the best credit cards for small businesses might be the best bank for you.

What is the best bank for small business checking?

We’ve determined that the best bank for small business checking, based on our methodology, is Capital One because it offers unlimited business transactions. Most other banks and credit unions carry limits to the number of transactions you can have each month, which can lead to racking up extra transaction fees. Plus, Capital One offers a range of other small business services and products that can work alongside the checking account at either low or no fee.

Which is the best bank for small business loans?

When considering a small business loan, it’s important to weigh the types of loans that a bank offers as well as what you need the loan for, whether it’s for start-up costs or expansion. We determined Huntington National Bank to be the best bank for small business loans because it not only leads in SBA loans at the moment, but it offers other types of loans that might be helpful for small business owners.

Источник: https://www.valuepenguin.com/banking/best-banks-small-business

Best Small Business Checking Accounts – 2021

Best bank accounts

Now considering all of the metrics we have outlined above, let’s review the best checking accounts for small businesses in 2021.


Novo Bank

Who this account is best for

Novo is best for business owners looking for a no-cost business checking account, and for those who primarily want to bank online. They offer no-fee accounts and very generous terms, but they do not have in-person branches. Owners of cash-based businesses should look elsewhere, but for everyone else, Novo is a great option. 

Introductory offers and fees

Novo has a straightforward pricing structure: It’s essentially all free. There are no monthly fees, no minimum balances, no ACH fees, and really no fees for anything, outside of an insufficient funds charge of $27. 

  • ATM withdrawal – any ATM, worldwide: $0
  • Monthly fees: $0
  • ACH transfer: $0
  • Incoming wires: $0
  • Debit card replacement: $0
  • Physical check bill payment: $0
  • Bank check: $0
  • Paper statement: $0
  • Insufficient funds fee: $27
  • Uncollected funds return fee: $27

There is currently no sign-up bonus or introductory offer from Novo. That said, the value that this account offers is in its simplicity and low-cost nature. For many, it’s worth signing up for Novo, despite the lack of a bonus. 

Novo Bank network

Novo Bank doesn’t have a network, exactly. They have no physical branches and operate solely online. Novo is one of the newer business banking providers, and they have adapted to a low-cost, digital banking model. They focus on providing useful tech tools to help businesses conduct their banking remotely and therefore do not offer bank branches. While the lack of branches may seem like a downside, it’s also what enables Novo to offer such low-cost services.

Novo counters their lack of branches with one valuable benefit: Free ATM withdrawals at any ATM, worldwide. Even if the ATM charges you a fee, Novo will reimburse it. 

With the ATM benefit, cash withdrawals are not a concern. However, other in-person banking activities, like cash deposits, are difficult if not impossible with this bank. If you run a cash-based business, Novo is not the bank for you. 

Special features

What sets Novo apart from others on this list? In part, a growing list of special features help:

  • Powerful integrations
    • Novo Bank integrates with several key business tools
    • Shopify, Stripe, Xero, QuickBooks, and more all integrate
    • These integrations can save time and cut down on data collection/accounting errors
  • Free ATM withdrawals worldwide
    • Novo charges users $0 for ATM fees at any ATM
    • If the ATM charges a fee, Novo will refund it at the end of the month
  • Integrated invoicing
    • With Novo, you can draft and send invoices, straight from your checking account
    • Accept payment via ACH transfer, directly to your account
    • Or, integrate with Stripe to accept credit card payments for invoices
  • Exclusive perks
    • Novo offers exclusive perks and discounts for its members
    • Examples include discounts on GoDaddy web hosting and QuickBooks accounting software

Novo sets itself apart by offering a fee-free checking account, packed with powerful features and unique benefits. Visit Novo’s website to learn all the details of this new service. 

See the att uverse bill pay review of Novo Bank here.


Bank of America

Who this account is best for

This is the best bank account for established businesses with steady growth or small businesses with a big future ahead of them.

Introductory offers and fees

With their Business Advantage Relationship Rewards Program, you can reap the benefits of having a checking account, rather than just storing your money away to sit. The Relationship Rewards Program has many perks including:

  • Feeless services like cashier’s checks, ODP transfers, deposits, and stop payments.
  • Bonuses based on using the Business Advantage credit card for purchasing.
  • Cash rewards for using the Merchant Services processing.
  • An interest rate booster on a Business Advantage Savings account.

While there are monthly fees for each business checking account, best bank for small business checking can skirt paying the fee if you meet the basic requirements for every statement cycle. Their overall fee schedule is quite competitive.

The Bank of America network

Bank of America is the second largest bank in the United States and for this reason, offers an impressive 4,400 offices that businesses can visit around the country. This makes assistance accessible. You can sit face-to-face with financial experts and discuss any issues you might have, or get help with managing your account services. Bank of America also offers approximately 16,000 ATM locations around the country, making it easy to bank on the go without having to pay out-of-network ATM fees. If you want all the benefits of banking with a large network, Bank of America is a premier choice.

Special features

Bank of America offers a wide variety of Cash Management Tools for businesses like:

  • Payroll services
  • Remote online depositing
  • Account management
  • Invoicing and payments by Viewpost®
  • Merchant services
  • Express tax services
  • Treasury services for larger businesses See full Bank of America review here.

See the full review of Bank of America here.


Chase

Chase logo

Who this account is best for

Chase is the largest bank in the country and is best for growing companies looking for the support of a big banking network.

Introductory offers and fees

Chase has a straightforward fee structure that’s affordable for checking and savings account users, but it’s important to take the time to understand the fees, otherwise, you could get hit with costs that are completely avoidable.

Chase is currently offering a $200 bonus for its Chase Total Business Checking account customers. To qualify you must meet the following requirements:

  • Make a $1,000 deposit within the first 10 days of opening the checking account
  • Maintain a $1,000 average minimum daily balance for 60 days
  • Make at least five qualifying transactions in the first 60 days

Chase Bank network

Chase is one of the largest banks in the United States and has an impressive 5,100 branches throughout the country and 16,000 ATM locations. This makes it very easy to find a location wherever you are, though Chase does not waive out-of-network non-Chase ATM fees for small business checking accounts, and offers to waive up to four fees for larger accounts.

Special features

Chase offers a range of nice features for business checking account holders that make life easier and more efficient.

  • Mobile Payments
    • Check account balances, deposit checks using your smartphone, receive text updates about your account, and make Zelle P2P payments.
  • Quickbooks Integration
    • Entrepreneurs can sync their Quickbooks with their Chase business checking account to more efficiently manage their business finances and taxes.
  • Fraud monitoring
    • Chase bank provides its customers with free fraud monitoring to protect business checking accounts from suspicious activity and use.
  • Paperless Savings
    • If you decide to go paperless it can lower your monthly fee from $15 to $12.

Visit Chase’s website to find out the perks and special features for Premier Plus checking and Sapphire checking accounts for larger businesses like specially designed checks and multiple free checking accounts.

See the full review of Chase here.


Wells Fargo

Who this account is best for

Wells Fargo‘s business checking accounts are best for businesses that need the flexibility to accommodate growth.

Introductory offers and fees

There are no introductory offers for business checking accounts at this time.

Wells Fargo has standard business checking account fees if specific account minimums and averages are met relative to the checking account type.

  • Monthly fees: range from $14-$40 per month depending on which business checking account your business has chosen these fees can be waived if specific average monthly balances and services are used.
  • Transaction fee: 50 cents for every transaction after the first 200 per month
  • Cash deposit fee: 30 cents per $100 in cash deposited after the first $7,500 of cash deposits each month
  • ATM fee: $2.50 per withdrawal and $2 per balance inquiry at out-of-network ATMs in addition to ATM operator fees.
  • Domestic incoming wires: $15
  • Domestic outgoing wires: $30
  • International incoming wires: $16
  • International outgoing wires: $35

Wells Fargo Bank network

The Wells Fargo banking network has more than 6,300 locations across the United States with over 13,000 ATMs. Wells Fargo has more nearby branches than almost any bank in walmart money card number country. If you are a business looking to receive face-to-face financial customer service, then the Wells Fargo network is one of the largest.

Special features

When you sign up for a Wells Fargo checking account they will include the following bonus features to personalize your business account.

  • Custom Cards
    • Wells Fargo offers complementary card customization so you can put your business logo right on your company debit or card.
  • Account Access Manager
    • The Account Manager helps you to manage employees or partners who need to access funds. The account access manager acts as an intermediary to help maintain account security.
  • Zero Liability Protection
    • Wells Fargo will completely reimburse any suspected unauthorized account activity like debit card or ATM withdrawals if they are reported immediately and correctly.

See the full review of Wells Fargo here.


TD Bank

Who this account is best for

This business checking account is best for small companies that want low monthly maintenance fees for their checking account in the U.S. or Canada.

Introductory offers and fees

TD Bank is offering to waive monthly fees for upgraded small business checking accounts on the premise that you take out a small business loan. This isn’t necessarily an introductory offer as much as it is an incentive to sign up for an upgraded small business checking account and get your business loan from TD Bank.

TD Bank has some of the higher fees when compared with other top ten banks. Here are some fees to be aware of:

  • Monthly fee: $10-30 depending on account type (you cannot waive the $10 fee for the simple checking account)
  • Charge after transaction limit has been met on checking accounts
  • Cash Deposit fee: $.20 for every $100 deposited after the limit
  • ATM fee: $3 for every out-of-network ATM visit unless you have a Premier checking account
  • Domestic incoming wire transfer fee: $15
  • Domestic outgoing wires transfer fee: $25
  • International incoming wires transfer fee: $15
  • International outgoing wires transfer fee: $40

TD Bank network

TD Bank has a smaller physical network compared to the other top ten largest banks in the country with just 1,250 branches and 2,500 ATMs across the U.S. and Canada. TD customers can also access accounts using out-of-network ATMs for an additional fee. Their branch locations are also open longer hours than most other banks, seven days per week.

Special features

TD Bank offers the standard special features that come with most business checking accounts like mobile deposit apps, overdraft protection, and ACH transaction options.

  • Free mobile and online banking with Mobile Deposit
    • Bank from anywhere anytime for free
    • Make single-item deposits electronically via an app that scans paper checks and places the funds in your account
  • Live Customer Service 24/7
    • Receive customer support via live chat or phone call around the clock
    • Branches are open seven days a week for in-person assistance
  • Business Overdraft Protection
  • BusinessDirect ACH Payments
    • Send money directly to any bank account
    • Set up templates for transfers
    • Use for payroll, vendor and tax payments
  • Bill Pay
    • Pay business bills online
    • Set up one-time or recurring payments
  • Quicken/QuickBooks Integration
    • Make payments straight from your financial accounting software

See the full review of TD Bank here.


Citibank

Who this account is best for

Citibank is best for high transaction business checking and businesses that anticipate a lot of growth.

Introductory offers and fees

There are no introductory offers currently at Citibank for business checking accounts.

Citibank has competitive fees for wire transfer and avoidable monthly maintenance fees. The biggest fees at Citibank are the overdraft fees and out-of-network ATM fees. However, Citibank has many fee-free ATM locations, over 60,000 to be exact.

  • Monthly Maintenance Fee: $15-22 (can vary by state)
  • Incoming Wire Transfer Fee: $15
  • Outgoing Domestic Wire Transfer Fee: $25
  • Outgoing International Wire Transfer Fee: $35
  • Overdraft Fee: $34 each
  • Non-Citibank ATM Fee: $2.50

CitiBank network

Citibank is a comprehensive bank that spans over 2,649 locations in 19 different countries and 723 branches in throughout the United States and also has 60,000 ATM locations for you to make use of. Whenever and wherever you need money, you should be able to find a place to access it, without paying a fee. Citibank is one of the largest banks in the country ranking 3rd just below Bank of America.

Special features

Citibank checking accounts all come with a myriad of special features. Citibank has quite the offerings for checking account clients, without much added expense:

  • Citibusiness Checking Plus Overdraft Protection
    • Revolving line of credit to offer business checking accounts overdraft protection
  • CitiBusiness Safety Check
    • Automatically transfers funds from your savings account or insured money market account to give overdraft protection for linked checking accounts.
  • Citibank Remote Check Deposit
    • Scan checks using your smartphone and deposit them direction into checking accounts
  • CitiBusiness Preferred Banking
    • A service offer that gives customers preferred pricing, waived fees, exclusive rebates, and bonus rewards.
  • Earnings Credit
    • Credit based on the monthly average balance in non-interest checking accounts that have more than $5,000, to help waive monthly service fee.
  • Cash Management Services
    • ACH Origination
    • Controlled disbursement
    • Account or deposit reconciliation
    • Currency services Investing options
    • ACH debit blocks and filters
  • CitiBusiness Online
    • Online banking portal
    • Fee-based Cash Manager Suite available

See the full review of Citibank here.


Capital One

Who this account is best for

Please note: Applications for the Spark Business Checking and Savings line of products have been temporarily removed as of early 2019, as Capital One is currently working on improving the overall product experience before adding new customers. With that in mind, do consider their class-leading checking and savings products for business owners.

First, their Business Unlimited Checking and Basic Checking deserve small business owners’ attention. Second, their industry-leading, 2.0% APY Savings Account is a product worthy of being at the top of one’s list.

Nevertheless, our Capital One Spark Business Checking account info follows below, but please note that as of the Summer of 2019, it is currently still not open to new applicants.

Capital One Spark Business Checking accounts are best for those small business owners who want unlimited transactions and can maintain a $2,000 average monthly balance.

Introductory offers and fees

The Spark Business Savings account offers a promotional Annual Percentage Yield of 1.75% for the first year. This applies to up to $1 million in savings balances for business owners. After $1 million there will be a non-promotional APY applied. After the first year of banking through the Spark Business promotion, the rate will lower to .40%, earning interest at Capital One’s standard rate. The promotion is limited to one account per business.

Capital One considers itself to be a lower fee bank. Here are some of the fees that you might incur as a business checking account customer:

  • Monthly Service Fee: $15 if your business checking account does not maintain a $2,000 minimum balance
  • No transaction fees or ATMs fees at all 39,000 Allpoint ATMs
  • Free Cash Deposits up to $5,000 and $1 for every $1,000 after that
  • Incoming Wire Fee: $15
  • Outgoing Wire Fee (Domestic): $25
  • Outgoing Wire Fee (Foreign): $40
  • Spark Business Checking customers can order business checkbooks for $30 each with each additional checkbook costing $22.

Capital One network

Capital One Network is smaller as far as physical locations are concerned. They only have 700 branches nationwide and are not located in many states. They are partnered with Allpoint to provide customers with more fee-free ATM access with over 39,000 ATMs in the U.S. Capital One relies heavily on its web portal and mobile banking app to give customers the 24/7 support and service they require. Most if not all account issues can be resolved on the website or over the phone.

Special features

  • Merchant Services
    • Accept credit card payments worldwide powered by Worldpay
    • Use smart terminals, traditional terminals, or mobile readers
    • Transparent reporting and multiple payment method friendly
    • Accept all major credit, gift and loyalty cards
  • Spark Credit Cards
    • Spark cash back rewards or Spark miles rewards credit cards for businesses that travel
    • The cashback card has 2% cash back and $500 cash bonus opportunity
    • The miles rewards card offers 2x the miles reward and a 50,000 bonus miles opportunity

See the full review of Capital One here.


Citizens Bank

Who this account is best for

This business checking account is best for those small businesses with less than 200 transactions monthly.

Introductory offers and fees

There are no special offers at this time for Citizens Bank‘s business checking accounts.

Citizens Bank’s fees are competitive with other business checking account fees and the free Clearly Better Business Checking account is a plus.

Here are some of the fees you might encounter banking with Citizens Bank:

  • $20-25 Maintenance fee for non-Clearly Better Business Checking accounts that don’t meet monthly requirements
  • Transaction fee: $.30.50 per additional transaction over monthly limit
  • Domestic Incoming Wire Transfer: $18 – $31
  • Foreign Incoming Wire Transfer: $10 – $12
  • Domestic Outgoing Wire Transfer: $18 – $30
  • Foreign Outgoing Wire Transfer: $8 – $35
  • Interbank Wire Transfer: $5
  • No cash deposit fee
  • Overdraft Fee: $39 per item, $6.99 per day for each day overdrawn up to $69.90
  • Out-of-Network ATM Fee: $3.00

Citizens Bank network

The Citizens Bank Network expands across 11 states in the following regions: Northeast, Mid-Atlantic, and Midwest. It is a small bank network when compared with financial giants like Bank of America or Citigroup. However, they do have 1,150 physical locations and 3,300 ATMs. Citizens Bank is originally a Rhode Island-based bank, but now it offers services nationwide to over 5 million customers.

Special features

The Citizens Bank business checking accounts have money management features that are standard to most basic business checking accounts and then have payment solutions, eBill autopay, and overdraft solutions beyond the norm.

  • Citizens Bank Mobile Deposit
    • Citizens Bank has an award-winning mobile app that allows businesses to deposit checks right from their smartphones.
  • Online Bill Pay
    • Pay bills easily online with an integrated calendar tool to help pay bills as early as possible.
  • Account Management Tools
    • Track payments, bills, funds, and view all accounts at once with multiple user account access with added security.
    • Send bills to vendors and suppliers with autopay and alert systems.
  • Money Movement and Management
    • Popmoney is Citizens Bank’s online payment service that offers account-to-account transfers and cash flow management tools.
    • Brand invoices with custom business logos
    • Transfer funds across accounts.
  • Overdraft Line of Credit
    • Overdraft Credit links your checking account to an overdraft-specific credit line that auto transfers funds to cover ATM fees, debit card purchases, and bill payments that go beyond the available balance.
  • Savings Overdraft Transfer
    • Overdraft Savings links your checking account to an overdraft-specific savings account that auto transfers funds to cover ATM fees, debit card purchases, and bill payments that go best bank for small business checking the available balance.

See the full review of Citizens Bank here.


PNC Bank

Who this account is best for

This business checking account is best for a small business that has a high number of monthly transactions.

Introductory offers and fees

New Business checking accounts can earn a cash bonus reward by opening an account.

  • $100-300 for Business Checking account if you sign up by September 14th, 2018 and maintain a minimum average per cycle of $1,500-$25,000 for the first 3 statement cycles and make 10 total PNC Bank Visa Debit Card transactions or mobile check deposits in that same time frame.

The fees can be waived for the first three months’ businesses start checking with PNC while they figure out the requirement structure. To continue not paying the monthly fee you must meet the following requirements:

  • Deposit PNC merchant services card payment proceeds into your business checking account
  • Make > $1,000 worth of purchasing using your linked PNC business credit card
  • Have an average monthly balance of $1,500

Here are the following fees to be aware of:

  • Monthly fee: $12
  • Transaction fee: $0.50 per transaction after the first 150 transactions each month
  • Cash deposit fee: > $5000 a fee applies and $3 per deposit bag for night processing
  • ATM fee: 6,000 PNC Bank ATMs nationwide and an out-of-network ATM reimburse plan if you carry a $2,000+ daily balance
  • Domestic incoming wires: $15
  • Domestic outgoing wires: $30
  • International incoming wires: $15
  • International outgoing wires: $45

PNC Bank network

PNC is the 9th largest bank in the US, and its network spans 2,800 banking locations in 19 different states with over 6,000 PNC ATMs. Its network’s downside is the lack of physical locations, but with so many ATMs and ATM reimbursement programs if you are a business looking to either primarily online-bank or are located near a PNC bank, the network could accommodate your needs.

Special features

  • No Setup Fee for Overdraft Protection
    • Get overdraft protection on your business checking account without an initial fee
  • No Charge for 150-1,500 Items
    • Depending on account size you can have free transfers, deposits, and transactions for up to 1,500 items monthly
  • Cash Flow Insight Base
    • The Cash Flow feature is a suite of online tools for cash management like spending analysis, timelines, trends, cash in, and cash out to help you make more informed business decisions. The cost for this feature is an added $10 monthly.
    • Great for managing account payables and receivables online with the ability to sync accounting software and receive forecast credit card statements.
    • Invoicing and document management reminders and templates for improved management.
    • PNC Merchant Services for next-day funding on payment processing
    • Online bill pay and banking

See the full review of PNC Bank here.


U.S. Bank

Who this account is best for

U.S. Bank is best for newer, smaller businesses or businesses with moderate cash flow and transactions.

Introductory offers and fees

U.S. Bank gives its business checking customers a special 50 percent discount on their first check order up to $50 even if you wait months to order the checks. If you go to sign up at a branch you can get a discounted price on a mobile card reader and get it for just $49 or a full terminal for $399. This is only when you sign up for its clear and simple best bank for small business checking program.

U.S. Bank offers a competitive fee schedule when compared with other top banks for business checking account customers. Here are some of the fees you might encounter while banking at U.S. Bank:

  • Monthly Maintenance fee: No monthly maintenance fee for US Bank silver business checking, all other monthly fees vary see the above section for details.
  • Transaction fee: $0.50 cents per transaction after the first 150 transactions limit is reached each month
  • Cash deposit fee: The first $2,500 in cash deposits are free every month
  • ATM fee: No out-of-network additional charge nationwide and access to 3,200 ATMs that have free withdrawals in addition to 25,000 more MoneyPass ATMs.
  • Domestic incoming wire transfer fee: $20
  • Domestic outgoing wire transfer fee: $30
  • International incoming wire transfer fee: $25
  • International outgoing wire transfer fee: $50

U.S. Bank network

The U.S. Bank network is in the top five biggest banks in America. It has 3,200 physical branch locations and 5,000 ATMs where you can receive free financial services. Using the branch locator on the web portal or mobile app you can find the nearest branch or feeless ATM. U.S. Bank has

Special features

  • ADP Payroll
    • U.S. Bank partners with ADP® to deliver flexible payroll, tax, and human resource solutions for companies of all sizes.
  • Customer Check Risk Management
    • Offer customers the option of paying by check while cutting costs and associated fraud risk. With Electronic Check Services, checks are auto-converted into electronic transactions.
  • Remote Check Deposit Solutions
    • Deposit checks with your U.S. Bank mobile app, the Deposit Express, or with on-site bank location electronic deposits with only a $15,000 per day limit on mobile check deposit.
  • Business Reserve Line
    • Get overdraft protection with a revolving line of credit up to $5,000 for advanced overdraft prevention.
  • Card Payment Processing
    • Point-of-Sales solutions, mobile card payments, online/remote card payments, check and card processing, and international card payments for businesses.
  • Business Money Market Accounts
    • Earn higher interest rates and watch your balance increase, giving you unlimited access to your funds while getting extra cash.

See the full review of U.S. Bank here.


SmallBusinessBank.com

Who this account is best for

This business checking account is best for micro-businesses or small businesses looking for an entirely free mobile and online banking solution.

Introductory Offers and Fees

Small Business Bank offers a free business checking account geared towards micro businesses. There are no limits, monthly fees, or minimum balances when you get a micro-business checking account at Small Business Bank. This isn’t so much promotion or offer, it is how their business checking is designed.

Small Business Bank is a low-fee, micro-business checking option that has the most competitive fee schedule of any online bank for very small businesses. Here are some of the fees you might encounter when banking with Small Business Bank:

  • Money Orders: Free
  • Cashier’s Check Fee: Free
  • Dormant Account Fee: $2 per month
  • Return on Deposited Item: $2
  • Domestic Incoming Wire Transfer Fee: $15
  • Stop Payment Fee: $25
  • Insufficient Funds/Overdraft Fee: $25
  • Mailed Statements: $10 per month

Small Business Bank network

Small Business Bank used to be called Gardner Bank and is a member of the Federal Reserve System. It started as a Kansas headquartered bank serving the city since 1984. Despite having its roots in Kansas, now Lenexa, Kansas specifically, the bank now services small businesses in all 50 states across the nation. The customer support team is not 24/7, but they are ready to assist with financial needs during business hours. Small Business Bank is part of the Shazam ATM network and no fees apply at those ATMs for Small Business Bank account holders.

Special features

There are very few special features and now cash flow management solutions at Small Business Bank. Here are the basic features that do come standard with the Micro Business Checking Account:

  • Free online banking and bill pay
  • Free mobile deposits using the easy-to-use Small Business Bank mobile app
  • Free ATM withdrawals at any Shazam ATM location
  • A free FDIC-insured account
  • High Yield Business Savings Account with 0.49% APY on funds up to $100,000 and 0.99% for any over $100,000

See the full review of Small Business Bank here.

Источник: https://www.chamberofcommerce.org/best-small-business-checking-accounts/

To continue enjoying all the features of Navy Federal Online, please use a compatible browser. You can confirm your browser capability here.

Features:

  • No monthly service fee
  • Two signers

Best For:

  • New businesses
  • Limited cash flow activity

APY2

0.01%

Features:

  • Monthly service fee of $8
  • Unlimited signers

Best For:

  • Growing businesses
  • Multiple owners
  • Steady banking activity

APY

0.01%

Features:

  • Monthly service fee of $0 or $203
  • Unlimited signers

Best For:

  • Mature businesses
  • Large transaction volumes
  • Higher deposit balances
  • Multiple owners
$0-$9,999:0.35%
$10,000-$24,999:0.40%
$25,000 & over:0.45%

The GO BIZ Debit Card is designed to help keep your business moving forward.

  • Contactless, tap-to-pay technology
  • A Zero Liability policy for unauthorized transactions
  • Visa® Travel Accident Insurance

about Navy Federal's commercial real estate loan offeri

Features:

  • No term restrictions
  • Competitive rates
  • Minimum of $2,500 balance to earn dividends
  • Earns more than a standard savings account without term restrictions

Best For:

  • Businesses looking for higher earnings than a standard savings account

Jumbo dividend rate earned on balances of $100,000 or more

Features:

  • No term restrictions
  • Competitive rates
  • Minimum of $100,000 balance to earn jumbo dividend rate

Best For:

  • Businesses with the ability to maintain higher balances on deposit
  • Businesses interested in earning a jumbo dividend rate

Higher dividends earned through longer maturities

Features:

  • Minimum purchases as low as $100
  • No maximum purchase amount (excluding special promotions and offers)
  • 3-month to 7-year terms available

Best For:

  • Businesses prioritizing earning the highest dividend rate without needing flexible access to best bank for small business checking Today and become a Business Solutions member

If you’re already a business member, follow these easy steps:

1

Non-electronic transactions are defined as checks processed and in-branch transfers, deposits and withdrawals. Up to 12 checks for deposit at a branch will count as one transaction.

2

 Rates on variable rate accounts could change after account opening. Fees may reduce earnings. Offering rates may change.

3

Monthly service fee waived if average daily balance is $5,000 or more. Otherwise, a $20 monthly service fee will apply.

4

Maintain a minimum daily balance of $1,500 to earn dividends.

Источник: https://www.navyfederal.org/services/business/checking-savings.html
best bank for small business checking

Best bank for small business checking -

Business Checking Accounts

Premier Analysis

Complex transactions and high-volume banking? This account can handle it. Plus, the $15 monthly service charge may be offset by your Premier Analysis earnings credit. Contact a Business Banking Specialist today for your personalized proposal and current account comparison.

OpeN Now


Business Interest

Reap the rewards of a deep banking relationship with Business Interest Checking. Earn interest on your checking balance, get unlimited support from our Business Banking team, and waive your $12 service charge with:

  • Enrollment in Merchant Services, OR
  • $10,000 minimum Business Interest Checking account balance, OR
  • $50,000 combined deposit and loan balances†† at Bank Independent.

OPEN Now


Small Business

Small Business Checking is the perfect account for start-ups and other companies with everyday business banking needs and relatively lower paper check and cash transaction volume. We'll waive your $10 service charge with:

  • Enrollment in Merchant Services, OR
  • $5,000 minimum Small Business Checking account balance, OR
  • $25,000 combined deposit and loan balances†† at Bank Independent.

OPEN Now


Micro Business

With our Micro Business Checking account, get the convenience of paperless on-the-go banking with no monthly service charge, no minimum balance requirements and fee-free processing of up to 25 items per month. An additional charge will apply to process more than 25 items.

OPEN Now


Non-Profit Checking

Do you manage the finances for a charitable association, religious group, educational organization, or another tax-exempt entity? Visit a Relationship Banker at your local Bank Independent Sales Office today to learn more about our Non-Profit Checking account.


Debit Cards

Your Bank Independent Debit Card bundles purchasing power, convenience, state-of-the-art security and even simplified savings into one convenient package. Learn more here.


Need More Checks?  Order Your Checks Here


††The combined balance is calculated by adding the lowest daily balance that occurred in each of your deposit and loan accounts during your statement cycle.

Источник: https://www.bibank.com/business/bank/checking

Finding the right bank for your small business will streamline your finances and separate your personal needs from your business needs. The right small business bank can also allow you to focus on all the other tasks you'll face as a business owner. We looked at loans, deposit accounts, credit cards and business resources to find the best bank for small businesses in each category.

Best for small business loans: Huntington National Bank

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Huntington National Bank is not only a top provider of various loans for small businesses, but it’s also a top provider of U.S. Small Business Administration (SBA) 7(a) loans, which are the primary types of loans the SBA provides to assist small businesses. They can be used for real estate, short- and long-term working capital and the purchase of furniture, fixtures and supplies for your business.

Small business products and services: Besides leading in SBA-guaranteed business loans, Huntington National Bank also offers other small business loans. If you need help expanding your business, you might benefit from one of the bank’s business term and real estate loans — and they also offer loans designed specifically for dental and veterinary practices. Huntington National Bank also provides business lines of credit for managing cash flow and purchasing inventory.

In addition, Huntington National Bank offers small business checking and savings accounts, money market accounts, small business insurance and payables and receivables management resources.

Customer experience: Huntington National Bank has a network of more than 1,100 branches and 1,700 ATMs. Customers can bank in-person in Ohio, Colorado, Illinois, Indiana, Kentucky, Michigan, Minnesota, Pennsylvania, South Dakota and West Virginia — or online and through the bank’s mobile app.

Best for highest business checking account APY: Lafayette Federal Credit Union

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Lafayette FCU’s Business Performance Checking account requires $1,000 to open and has a $20 monthly maintenance fee — but comes with a 1% APY on balances $1,000 and above. To qualify for the APY, you must either open a Lafayette Federal Business credit card or line of credit or use one or more business service products, which include remote deposit capture, ACH SmartPay, Paychex Payroll or FirstData Merchant Services. This account also includes unlimited transactions.

Small business products and services: In addition to the high APY for its business checking account, Lafayette FCU offers small business owners a basic business checking account that does not earn interest, in addition to money market accounts and CDs. Small business owners can also apply for business credit cards and loans with the credit union, and have the option to offer employee compensation packages through Lafayette FCU, if you enroll your business as a Select Employee Group.

Customer experience: Lafayette FCU requires membership. You’re eligible if you live or work in Maryland, D.C. or Virginia, or become a member of the American Consumer Council for $8 or the Home Ownership Financial Literacy Council for $10. There are 6,000 shared branches nationwide along with an extensive network of fee-free ATMs. You can also bank online or through the credit union’s iPhone or Android mobile apps.

Best for small business checking account options: Capital One

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Capital One offers two business checking accounts.

AccountSpark Business Basic CheckingSpark Business Unlimited Checking
Business transactionsUnlimitedUnlimited
Cash depositsFree up to $5,000 per month, then $1 for each additional $1,000Free
Wire transfers$15 per incoming domestic or foreign wire $25 per outgoing domestic wire $40 per outgoing foreign wireFirst five domestic wires per month are free (after that, $15 per incoming domestic wire and $25 per outgoing domestic wire) $15 per incoming foreign wire $40 per outgoing foreign wire if in foreign currency $50 per outgoing foreign wire if in U.S. dollars
Monthly fee$15 (or $0 if you maintain an average 30- or 90-day minimum balance of $2,000)$35 (or $0 if you maintain an average 30- or 90-day minimum balance of $25,000)

Small business products and services: Capital One’s small business products and services also include its Spark business credit cards (which allow you to earn miles or cash back on your purchases), small business loans, merchant services and cash flow management tools.

Customer experience: Capital One customers have access to more than 70,000 fee-free ATMs, which includes Capital One, MoneyPass® and Allpoint® ATMs and more than 770 branch locations. The bank also offers several tools for banking online such as mobile deposits, digital payments through Zelle and online billpay if you aren’t near any branches or ATMs.

Best for avoiding fees: PNC Bank

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Of the business checking accounts that PNC Bank offers (Business Checking, Business Checking Plus, Treasury Enterprise Plan and Analysis Business Checking), we’ve chosen its Business Checking Plus as the best for avoiding fees. There’s no monthly maintenance fee for the account’s first three statement cycles. After that, the fee is $20 a month, but there are several options for waiving it:

  • Maintain an average of $5,000 monthly collected balance
  • Deposit a minimum of $5,000 monthly payment proceeds from a PNC Merchant Services account
  • Make $5,000 in purchases with a linked PNC business credit card
  • Maintain $20,000 average combined balance in a linked PNC business checking and money market account

There is also no fee to set up overdraft protection for this account.

Small business products and services: PNC Bank offers a wide range of other small business products, such as business credit cards, loans and merchant services. Cash Flow Insight provides tools for operating your business through monitoring, planning and budgeting your spending.

Customer experience: There are 2,300 PNC Bank locations and 18,000 PNC and partner ATMs throughout the U.S. You can also bank online or through PNC’s mobile app, which provides access to Cash Flow Insight and Pinacle, a tool that helps streamline payments you make and receive. Pinacle also gives you access to PNC’s online treasury management services.

Best for small business credit cards: Chase Bank

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Chase Bank not only provides popular credit card rewards programs for consumers, but it also provides some of the best credit cards for small businesses. Chase Bank’s Ink line of business credit cards — detailed below — offer some of the highest rewards rates for business-related expenses. Rewards points can be used for cash, gift cards, travel and more. Even if your business expenses are low, you’ll likely find Chase offers more than one credit card option that can fit into your finances.

CardInk Business Unlimited® Credit CardInk Business Cash® Credit CardInk Business Preferred℠ Credit Card
APR0% Intro APR on Purchases for 12 months (then 13.24% - 19.24% Variable APR after that)0% Intro APR on Purchases for 12 months (then 13.24% - 19.24% Variable APR after that)15.99%-20.99% Variable APR
RewardsEarn unlimited 1.5% cash back on every purchase made for your businessEarn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.
Annual fee$0$0$95

In addition, Chase Bank offers co-branded Southwest and United credit cards.

Small business products and services: Chase Bank also offers small business loans and lines of credit, business checking and savings accounts, equipment and trade financing, merchant services and resources for starting, managing and growing your business.

Customer experience: Chase Bank has more than 4,700 branches and 16,000 ATMs. You can also access additional services online and through the bank’s mobile app.

Best for branch access in the Midwest: U.S. Bank

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U.S. Bank is our first choice for small business owners located in the Midwest because of its large branch and ATM network around the U.S. — including throughout the heartland. It offers a vast selection of loans, and its Silver Business Checking Package comes with no monthly fee, a rare benefit you won't find at many other banks.

Given the importance of branch access to a strong business banking experience, U.S. Bank's locations make it a better choice for businesses operating in areas that may be neglected by the other national banks. In addition to participating as a lender in the SBA Express loan and 7(a) loan programs, U.S. Bank has its own loans for business development, commercial real estate and capital equipment.

Small business products and services: U.S. Bank also has three tiers of checking options for businesses, as well as a nonprofit checking account and a premium business checking account. Other business products and services include loans, credit cards, money market accounts and cash management and payroll services.

Customer experience: With one of the largest ATM networks in the U.S. and thousands of branch locations, you don’t have to be limited to living in the Midwest to get the most out of U.S. Bank’s business services. U.S. Bank also offers online banking and banking through its mobile app. You can also contact customer service 24/7 by phone.

Best for branch access in the Northeast: TD Bank

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TD Bank is one of the 10 largest banks in the U.S. and has most of its more than 1,200 branch locations in Northeastern states including Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont.

Whether you're looking to expand your business with additional equipment purchases or new real estate, TD Bank offers loans with fixed rates based on your credit rating. More detailed information will require visiting a branch and speaking with a banker about your specific needs.

Small business products and services: TD Bank’s Business Premier Checking account is one of the best available for the value. It includes higher monthly limits on your free transactions and cash deposits, a lower transaction fee and discounts on the bank's merchant services. TD Bank also offers small business loans, credit cards and prepaid cards as well as online accounting, payroll and merchant services.

Customer experience: TD Bank has over 1,200 branch locations and 700 ATMs. TD Bank also offers Small Business Online Banking and its mobile app for online accounting and making and receiving payments.

Summary of the best banks for small business

Small business loansHuntington National BankTop provider of U.S. Small Business Administration (SBA) 7(a) loans and other small business loans
Highest business checking account Annual Percentage Yield (APY)Lafayette Federal Credit UnionBusiness Performance Checking earns 1% APY ($1,000 minimum opening deposit)
Small business checking accountsCapital OneTwo small business checking accounts with unlimited free business transactions and waivable monthly fees
Avoiding feesPNC BankBusiness Checking Plus includes multiple ways to waive monthly fee and has no overdraft protection fee
Small business credit cardsChase BankInk line of business credit cards offers various reward points and cash back options
Small businesses in the MidwestU.S. BankVast number of branches and ATMs in the Midwest
Small businesses in the NortheastTD Bank1,200+ branches, with a large number in the Northeast

Finding the best bank for your small business

Many banks are ready to provide support to local businesses, so it's important to know how to evaluate your small business banking choices. Keep a few basic principles in mind as you continue your search for the best bank for your business.

  • Determine your needs: Banks provide businesses with three key products: loans, deposit accounts and payment processing. Breaking down your banking requirements along these categories can help you determine which bank is the best fit for your financial situation and business patterns.
  • Consider local: Like many aspects of operating a business, an effective banking relationship relies on cultivating personal relationships with your partners. Finding the best bank for a small business might mean shopping locally. While online banking and lending options can be helpful to people with lower credit scores, being able to meet with a banker in person can lead to more personalized services and terms that are more tailored to your specific needs.
  • Be flexible: While doing all your banking in one place can greatly simplify your finances, there's no reason to accept your current bank's solution to your business’s every financial need. For example, one bank might provide a better business credit card while another offers better terms on a commercial lease. As your business expands and your operating model changes, the way you need to handle money will probably change too. Being ready to reassess your banking setup is important to avoid stifling your growth at a key moment.

Methodology for determining best banks for small business

To find the best banks for small business, ValuePenguin looked at financial institutions from small community banks and credit unions to traditional brick-and-mortar banks and online banks. We update our list on a regular basis to ensure we’re providing readers with the most recent information.

We determined our list and rankings by considering the following factors:

  • Small business products and services: The most heavily-weighted feature of the best small business banks are the number and quality of products and services offered specifically to small business owners. This includes options for small business checking accounts, business credit cards and business loans. Banks with free or low-fee accounts and low minimum requirements, and low-fee/low-APR loans and credit cards are ranked higher than those that offer products with monthly or maintenance fees and high APRs for financing.
  • Small business benefits: Banks that also provide extra resources, such as tools, business software and guides for payroll and taxes that help small business owners manage their businesses are also ranked higher.
  • Accessibility: It is crucial for small business owners to access not only the bank or credit union for banking purposes but also customer service when there are questions or assistance is needed. We considered only banks and credit unions that are available nationally, online or through mobile apps.
  • FDIC-insured and NCUA-insured: It’s important for your business banking to be protected by FDIC and/or NCUA insurance in the case your financial institution were to fail. As such, we only included FDIC-insured and NCUA-insured banks and credit unions on our list.

FAQs

What is the best bank for small business?

The best bank for a small business will vary depending on what you need to grow and manage your business. If you need access to loans or lines of credit, you might choose the bank that offers the best small business lines. Likewise, if you’re looking for small business credit cards to use for making purchases and earning rewards, the bank offering the best credit cards for small businesses might be the best bank for you.

What is the best bank for small business checking?

We’ve determined that the best bank for small business checking, based on our methodology, is Capital One because it offers unlimited business transactions. Most other banks and credit unions carry limits to the number of transactions you can have each month, which can lead to racking up extra transaction fees. Plus, Capital One offers a range of other small business services and products that can work alongside the checking account at either low or no fee.

Which is the best bank for small business loans?

When considering a small business loan, it’s important to weigh the types of loans that a bank offers as well as what you need the loan for, whether it’s for start-up costs or expansion. We determined Huntington National Bank to be the best bank for small business loans because it not only leads in SBA loans at the moment, but it offers other types of loans that might be helpful for small business owners.

Источник: https://www.valuepenguin.com/banking/best-banks-small-business
section of webpage -->

Midland Wealth Management is a trade name used by Midland States Bank and its subsidiary Midland Trust Company.

Investment and Insurance Products:

  • NOT FDIC Insured
  • NO Bank Guarantee
  • May Lose Value
  • Not A Deposit
  • Not Insured By Any Federal Government Agency

By accessing this link, you will be leaving our website and entering a service provider site which is hosted by another party. Please note that this site's privacy policy and security practices may differ from Midland States Bank's. As such, we cannot control, endorse or guarantee any aspect of the use of the linked site, and we assume no responsibility for such use.

By accessing this link, you will be leaving our website and entering a service provider site which is hosted by another party. Please note that this site's privacy policy and security practices may differ from Midland States Bank's. As such, we cannot control, endorse or guarantee any aspect of the use of the linked site, and we assume no responsibility for such use.

This site is best viewed in Chrome.

Источник: https://www.midlandsb.com/business-checking

TD Small Business Checking

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TD Business Premier CheckingSM

The business checking account that rewards your TD Bank relationship

With the most perks of any TD small business checking account — discounts on services, free unlimited money orders and official checks, and more

No monthly fee for up to 3 additional accounts including TD Small Business Money Market Plus and up to 2 TD Business Simple Checking accounts 1

No TD fees at non-TD ATMs2.


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TD Business Convenience Checking Plus

All the essential account features you need to run your business

Waive the monthly fee with a $1,500 minimum daily balance between this account and a TD personal checking account3,4

Send money where it needs to go with ACH, Bill Pay5 and Wire Transfers

Pay with confidence with the TD Visa Business Debit Card and continuous fraud monitoring


Recently Viewed

TD Business Simple CheckingSM

A business checking account with built-in, professional invoicing

Send free professional invoices that customers can pay online6

Accept online credit card and ACH payments for a low per-transaction fee6

Low $10 monthly fee—no minimum daily balance required


Add another account to compare

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What you get with a TD Small Business Checking account

  • Longer store hours
    Enjoy the convenience of over 1,100 TD Bank locations with longer hours, including weekends7
  • Online Banking with access to accounts and payments
    Online Banking and Mobile Banking with Mobile Deposit8 plus payment options including ACH, Bill Pay5 and Wire Transfers. Set up sub-users and permissions to tailor your account to your business needs
  • Local personalized support
    Connect with a Small Business specialist to help customize services and solutions for your business
  • Instant issue debit card
    Lost or worn card? Stop by a TD Bank near you and get a new business debit card on the spot
  • 24/7 Live Customer Service
    Call 1-888-751-90001-888-751-9000 and press 0 to talk to a real person 24/7. Get account info, answers to questions about our products and services, open an account and more
  • Merchant Solutions
    Get your funds faster with next-business-day funding to a TD Checking account. And, waive the monthly fee for TD Business Premier Checking accounts.9 Accept any type of payment, even contactless from anywhere. Track sales, identify trends, report on customer segments, spending patterns and more
  • TD Online Accounting6
    Your banking and accounting all in one place. Send online invoices, accept credit card payments and access reporting from within TD Online Banking

Interest on Lawyers Trust Accounts (IOLTA/IOLA)

Law firms can use IOLTA accounts to place client funds into a pooled account that earns interest used to benefit public service programs approved by the state bar.

Still deciding on an account?

Our account selector can help you choose the right account.

More TD small business solutions

Merchant Solutions

Easily accept payments and receive your funds faster with next-business-day funding to a TD Business Checking account2

Find out more

Get more from your checking account

Explore the benefits of your checking account along with other services to help grow your business

Find out more

TD Online Accounting

Send online invoices, accept credit cards, streamline accounting and track everything all in one place

Get details

Get ready to open your business account

Be prepared with the info and documents you'll need to open a deposit account or apply for a loan or line of credit

Find out more

View account guide for more details: TD Business Simple Checking, TD Business Convenience Checking Plus, TD Business Premier Checking and TD Business Interest Checking Plus.

1Refer to the Business Deposit Account Agreement for details.

2For non-TD Bank, N.A. ATM transactions, the institution that owns the terminal (or the network) may assess a surcharge at the time of your transaction, including balance inquiries.

3Non-profit customers are eligible for waiver of the monthly maintenance fee.

4TD Business Convenience Checking Plus combined balances includes balances from the TD Business Convenience Checking Plus account and one TD personal checking product. The following personal checking products are excluded: Health Savings Accounts and TD Simply Free Checking. Please see your Business Deposit Account Agreement for more details.

5Bill Pay payments are free with up to a 3-day turnaround time. A rush same-day payment feature is available for a fee. Please consult your Business Account Agreement for details.

6TD Online Accounting is powered by Autobooks. Neither TD Bank, N.A., nor any of its subsidiaries or affiliates, is affiliated with Autobooks, Inc (Autobooks). The accounting services referenced herein are provided exclusively by Autobooks and are subject to customer’s agreement to Autobooks’ terms of use. Certain restrictions and fees apply. TD Bank may be entitled to receive fees from Autobooks for customer’s use of accounting services. Use of accounting services from any provider, including Autobooks, is solely at the customer’s election. Autobooks may have a different Privacy and Security policy than TD Bank, N.A. You should review the Privacy and Security policies of the Autobooks website before you provide personal or confidential information. Restrictions may apply for 1-2 day funding availability service. TD Business Simple Checking customers enrolling in Invoicing only, will pay no monthly service fee. Customers with multiple business checking accounts are only eligible for the Invoicing only monthly service fee waiver if all checking accounts are TD Business Simple Checking products. All other business checking product types will pay a $10 monthly service fee for TD Online Accounting.

7Data as of March 2018. Comparison of longest average store hours in the regions (MSAs) in which TD Bank operates compared to major banks. Major banks include our top 20 national competitors by MSA, our top five competitors in store share by MSA and any bank with greater or equal store share than TD Bank in the MSA. Major banks do not include banks that operate in retail stores such as grocery stores, or banks that do not fall in an MSA.

8The TD Bank Mobile App is free to download, however, standard wireless carrier message and data rates may apply. Text "Stop" to quit or "Help" for more information. TD Bank Mobile Deposit is available to business customers with an active checking, savings or money market account. Available for most iPhone® and Android™ devices. Other restrictions may apply. Please refer to the Mobile Deposit Addendum.

9Fees may apply for optional services. For merchants with a TD Bank settlement account and TD Bank’s standard payment processing setup, funds will be available in the settlement account by 2 PM ET on the next business day. Availability may vary based on merchant-selected payment processing gateway and other chosen services, including but not limited to, the use of non-TD Bank settlement account. Additional restrictions apply. Please consult your Business Account Agreement for details. See the TD Bank, N.A. Member Merchant Agreement for Applicable Merchant Processing Fees and Assessments. Subject to credit approval. Visit https://www.tdbank.com/merchantsolutionsoffer/ for promotion details.

View account guide for more details: TD Business Simple Checking, TD Business Convenience Checking Plus, TD Business Premier Checking and TD Business Interest Checking Plus.

1Refer to the Business Deposit Account Agreement for details.

2For non-TD Bank, N.A. ATM transactions, the institution that owns the terminal (or the network) may assess a surcharge at the time of your transaction, including balance inquiries.

3TD Business Convenience Checking Plus combined balances includes balances from the TD Business Convenience Checking Plus account and one TD personal checking product. The following personal checking products are excluded: Health Savings Accounts and TD Simply Free Checking. Please see your Business Deposit Account Agreement for more details.

4Non-profit customers are eligible for waiver of the monthly maintenance fee.

5Business Convenience Checking in-store cash deposits up to $5,000 per statement cycle and $0.25 per $100 deposited thereafter.

6Business Simple Checking in-store cash deposits up to $5,000 per statement cycle and $0.25 per $100 deposited thereafter.

7Data as of March 2018. Comparison of longest average store hours in the regions (MSAs) in which TD Bank operates compared to major banks. Major banks include our top 20 national competitors by MSA, our top five competitors in store share by MSA and any bank with greater or equal store share than TD Bank in the MSA. Major banks do not include banks that operate in retail stores such as grocery stores, or banks that do not fall in an MSA.

8The TD Bank Mobile App is free to download, however, standard wireless carrier message and data rates may apply. Text "Stop" to quit or "Help" for more information. TD Bank Mobile Deposit is available to business customers with an active checking, savings or money market account. Available for most iPhone® and Android™ devices. Other restrictions may apply. Please refer to the Mobile Deposit Addendum.

9Fees may apply for optional services. For merchants with a TD Bank settlement account and TD Bank’s standard payment processing setup, funds will be available in the settlement account by 2 PM ET on the next business day. Availability may vary based on merchant-selected payment processing gateway and other chosen services, including but not limited to, the use of non-TD Bank settlement account. Additional restrictions apply. Please consult your Business Account Agreement for details. See the TD Bank, N.A. Member Merchant Agreement for Applicable Merchant Processing Fees and Assessments. Subject to credit approval. Visit https://www.tdbank.com/merchantsolutionsoffer/ for promotion details.

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Источник: https://www.td.com/us/en/small-business/checking-accounts/

19 Best Small-Business Checking Accounts of 2021

Business banking is a little different from consumer banking. Our master list of the best online banks around is surprisingly short on business checking accounts with no monthly maintenance fees, minimum balance requirements, or monthly transaction limits.

Also, most business bank accounts impose transaction limits and demand hefty minimum balances to waive high monthly maintenance fees (also known as monthly service fees).

That puts microbusiness owners and solopreneurs at a distinct disadvantage. And it’s a stark contrast to the consumer banking world, where the best free consumer checking accounts cater to individuals and joint account holders who aren’t swimming in cash.

But the picture isn’t uniformly bleak. Once you know where to look, you’ll find ample small-business checking options to choose from.

Best Small-Business Checking Accounts

The best small-business checking accounts have low minimum balance requirements to waive their monthly maintenance fees (or no monthly service fees at all) and enough fringe benefits to keep things interesting for account holders.

Some pay interest as well. All are FDIC-insured. Read on for our list of the best business checking accounts available right now.

1.Chase Business Complete Checking

$300 Bonus for New Account Holders Who Open With Qualifying Activities

Chase Bank Logo

Chase Business Complete Checking has a category-leading bonus opportunity for new account holders: $300 when you open a new account online or in-person (with no minimum deposit required) and complete the required qualifying activities.

Moving forward, you can avoid the $15 monthly maintenance fee in multiple ways, including maintaining a minimum daily balance or making qualifying purchases on your Chase Ink Business credit card.

Plus, enjoy unlimited electronic deposits, ACH, and mobile check deposits via Chase QuickDeposit.

Chase has ATMs and branches in the following states: AZ, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, KY, LA, MA, MI, NV, NJ, NY, OH, OK, OR, TX, UT, WA, WV, WI. This offer is available online nationwide, except for residents of AK, HI, and PR.

  • Minimum Deposit and Balance Requirements: There’s no minimum deposit or ongoing balance requirement.
  • Yield: None.
  • Rewards and Incentives: Open a newChase Business Complete Checking account and complete qualifying activities to earn a $300 bonus. This offer expires Oct. 21, 2021.
  • Possible Fees: Chase Bank offers multiple ways to waive the $15 monthly maintenance fee.

Apply Now


2. BlueVine Business Checking

Totally Free Business Checking With No Minimums & Interest on Eligible Balances

Bluevine Business Checking

BlueVine Business Checking has no minimum balance requirements, no monthly fees, and unlimited transaction allowances for all users. It’s also quite rare in the free business checking world for paying interest on balances: 0.6% APY.

BlueVine Business Checking has plenty of value-added capabilities for small-business users too. For example, you can easily connect your account to online accounting platforms like QuickBooks Online, Wave, and Freshbooks, as well as business revenue and deduction tools like PayPal, Stripe, and Expensify.

  • Minimum Deposit and Balance Requirements: This account has no monthly fees, minimums, or transaction limits.
  • Yield: All eligible balances earn 0.6% APY.
  • Rewards and Incentives: This account comes with a powerful mobile banking interface that offers mobile check deposit, debit card locking and unlocking, biometric security, custom account alerts, and more. Plus, you can deposit cash at more than 90,000 Green Dot retail locations, and you’ll pay no fees at more than 38,000 ATM locations nationwide.
  • Possible Fees: This account has no NSF, overdraft, or incoming wire fees.

Learn More


3. Axos Bank Basic Business Checking

Earn a $100 Account Opening Bonus With Qualifying Activities

Axos Bank Logo

Axos Bank Basic Business Checking is a fantastic alternative to Axos Bank Business Interest Checking (which we cover further down).

This free business checking account has no monthly maintenance fee, unlimited ATM fee reimbursements, a fantastic welcome bonus for both newly incorporated businesses and long-incorporated businesses that open accounts by the stated offer end date, and a nice remote deposit feature you can use just about anywhere.

Apply 100% online (no paper forms required) and get your first 50 checks free. Plus, enjoy paperless statements once you’re signed up.

  • Minimum Deposit and Balance Requirements: The minimum opening deposit is $1,000, but there’s no monthly service fee.
  • Yield: None.
  • Rewards and Incentives: Here’s how to earn the $100 welcome bonus: Apply for your new Axos Bank Basic Business Checking account, then maintain an average daily balance of at least $5,000 during the first three months (new funds only). This offer is subject to change or revocation at any time at Axos Bank’s sole discretion.
  • Overdraft Options: Axos Bank customers can opt into an overdraft line of credit that covers overdrafts the bank would typically return unpaid. The interest rate is variable but comparable to a high-interest credit card, and payment of at least 5% of the balance (or $25, whichever is greater) is due each statement cycle.
  • Possible Fees: $0.30 per item processed after the first 200 items each month.

For more information, read our Axos Bank review.

Learn More


4. Lili Standard

Totally Free Checking With Automatic Tax Savings and Financial Insights

Lili Logo

TheLili Standard account is a truly free, all-in-one checking solution that’s built with freelancers in mind.

In practice, it appeals to a much broader audience: side hustlers and gig workers supplementing W-2 income, established solo professionals (one-person businesses), and full-time freelancers. With Lili Standard, these folks don’t need separate bank accounts for personal and business needs — just Lili.

Lili Standard’s signature benefits include a subaccount that simplifies tax savings, early payday for qualifying account holders, instant expense categorization, and a powerful cache of financial insights and expense management tools to help you spend (and save) smarter.

Plus, its “emergency bucket” feature enables savings transfers as small as $1 a day. It all adds up to one of the best business checking accounts around.

  • Minimum Deposit and Balance Requirements: Lili has no account fees or minimums.
  • Yield: Lili Standard doesn’t pay interest. Check back often for the latest offers.
  • Rewards and Incentives: Lili’s referral program pays $50 per successful referral to Lili and promises a bonus of $1,000 when you deliver 10 successful referrals. Plus, Lili makes it easy to set aside funds earmarked for tax payments, has helpful expense management and categorization tools (like quarterly expense reports), promises an early payday for account holders with direct deposit (up to two days early), enables cash deposit at more than 90,000 locations around the U.S., and delivers real-time alerts about transactions and other account activities.
  • Possible Fees: Lili Standard charges no account fees.

Learn More


Nearside Temp Logo

Nearside is a free business banking platform that packs a tremendous amount of value into a lean, flexible account outfitted with a clutch Mastercard debit card. Take a few minutes to apply, then take advantage of these can’t-miss benefits:

  • 1% cash back on all eligible debit card purchases
  • Up to 5% additional cash back on eligible purchases, including car rentals (5% back), hotels and restaurants (4% back), and gas (1% back).
  • Exclusive perks — discounts on the tools and services you need to run your business, like Yelp, Square, QuickBooks, and Zenefits
  • Free, flexible ACH transfers
  • Seamless Apple Pay and Google Pay integrations

And Nearside has virtually no fees — no NSF, card replacement, or minimum balance fees.

  • Minimum Deposit and Balance Requirements: There’s no minimum deposit or monthly minimum balance requirement.
  • Yield: Nearside doesn’t pay interest on balances, but select transactions earn up to 5% cash back.
  • Rewards and Incentives: On top of 1% cash back on all purchases and up to 5% back on select purchases, enjoy perks that can reduce the cost of the business products and services you need to succeed, fee-free access to 55,000 ATMs nationwide, and Mastercard Enhanced Debit benefits (including ID theft protection, car rental insurance, and Mastercard Airport Concierge).
  • Possible Fees: Nearside doesn’t charge NSF fees, monthly minimum balance fees, ACH fees, or card replacement fees.

Apply Now


6. Lili Pro

Premium Subscription Featuring Advanced Banking, Tax Management Features & More for Professional Freelancers

Lili Pro Card 01

Lili Pro builds on the already incredible value of Lili Standard with a premium subscription platform built for professional freelancers. It boasts all the features and capabilities Lili Standard users know and love, plus:

  • A premium Visa business debit card with increased transaction allowances and cash-back rewards at over 14,000 merchants
  • Yields up to 1% on eligible emergency savings balances
  • Free overdraft up to $200 with no extra fees
  • Unlimited invoicing that allows account holders to send and manage invoices from their Lili Pro accounts and get paid directly into Lili
  • Advanced expense management, including custom categorization and percentage allocations for work and life expenses
  • Automatic set-aside savings for taxes
  • Access to more than 38,000 fee-free ATMs
  • No hidden fees

All this for just $4.99 per month.

  • Minimum Deposit and Balance Requirements: Lili Pro does not impose minimum deposit or ongoing balance requirements.
  • Yield: Emergency savings balances held with Lili Pro earn up to 1% APY.
  • Rewards and Incentives: Lili Pro has the same great referral program as Lili Standard. See terms and conditions for complete details.
  • Possible Fees: Lili Pro carries a low monthly subscription fee of $4.99. Lili Pro has no hidden fees.

Learn More


7. Brex Cash

Up to 50,000 Bonus Points After Account Approval and Qualifying Spend; No Fees or Minimums

Brex Logo

Brex Cash is a user-friendly cash account for growing businesses. With no fees or minimums, a generous welcome offer and ongoing rewards program, and an expansive lineup of value-added perks worth $150,000, it’s difficult to find fault here.

Take full advantage of the powerful mobile app and don’t miss the super-simple advance payment scheduling tools, either.

  • Minimum Deposit and Balance Requirements: Brex Cash has no account fees or minimums.
  • Yield: None.
  • Rewards and Incentives: Earn 30,000 bonus Brex Rewards points after opening your account and spending $3,500 on purchases within 30 days, or earn 50,000 bonus points after opening your account and spending $9,000 on purchases within 30 days. Plus, earn points on every purchase and enjoy perks worth $150,000.
  • Possible Fees: Brex Cash has no account fees.

Learn More

*Brex Treasury LLC is not a bank; Brex Cash is not a bank account.


8. Novo Powerfully Simple Business Banking

Thousands of Dollars in Exclusive Perks Available to Account Holders

Novo Bank Logo

Novo’s Powerfully Simple Business Banking product is another maintenance fee-free option for small-business owners and self-employed people (sole proprietors).

An easy application process, nice account opening bonus, robust mobile features, integrations with other useful small-business tools, and virtually no fees all count as standouts here.

If you’re done with branch-based business banking, put this free business checking account from Novo at or near the top of your list. It’s one of the best business checking accounts for smaller operators, period.

  • Minimum Deposit and Balance Requirements: The account opening minimum is $50, but there’s no ongoing minimum balance requirement and no monthly maintenance fee.
  • Yield: None.
  • Rewards and Incentives:  Enjoy thousands of dollars in exclusive perks — see Novo’s website for details.
  • Overdraft Options: If Novo chooses to honor an overdraft, there’s a $27 insufficient funds fee per item. The returned-item fee is also $27 per item.
  • Possible Fees: Other than its insufficient funds and returned-item fees, Novo has virtually no fees.

Learn More


9. LendingClub Bank Tailored Checking

Up to 1% Cash Back on Signature Debit Card Transactions for Qualifying Customers; 0.10% APY on Balances Above $5,000

Lending Club Logo

LendingClub Bank Tailored Checking doesn’t have the best yield in the business checking space, but 0.10% APY on balances over $5,000 is better than nothing.

Pair that yield with no limits or fees on transactions — ever — and you have an excellent account for active businesses able to keep some cash on hand.

Mobile check deposits and a powerful debit card app (which includes a card-locking feature) simplify banking on the go.

  • Minimum Deposit and Balance Requirements: The minimum opening deposit is $100. The $10 monthly maintenance fee is waived with a minimum daily balance of $5,000 or more.
  • Yield: 0.10% APY on balances over $5,000.
  • Rewards and Incentives: After your Tailored Checking account has been open for at least 30 days, keep an average balance of $5,000 or more in the account to qualify to earn up to 1% cash back on signature-based debit card purchases online and in-store. Cash back is automatically credited to your Tailored Checking account at the end of the month following the earning period. Plus, enjoy unlimited ATM fee rebates.
  • Overdraft Options: If you opt in to overdraft protection, there’s a $5 daily overdraft fee as long as your account remains overdrawn (up to 30 days). Fees begin accruing on the fifth calendar day after the first overdraft item hits.
  • Possible Fees: LendingClub Bank charges between $10 and $40 for wire transfers, depending on origin and destination.

Learn More


10. NorthOne Business Banking

Unlimited Payments, Deposits, Transfers & Debit Card Usage

Northone Logo 11 2 20

NorthOne Business Banking is a refreshingly simple business banking platform that prides itself on “radically transparent pricing.”

Just $10 per month unlocks its full slate of features, including unlimited payments, transfers, deposits, and debit card transactions; more than 300,000 in-network ATMs; mobile check deposit (and a slew of other mobile-friendly features); and unlimited subaccounts for payroll, taxes, and more.

Plus, for a limited time, NorthOne is offering an exclusive deal for Money Crashers readers who sign up for a new account: one month of free business banking when you sign up using the link below.

  • Minimum Deposit and Balance Requirements: The minimum opening deposit is $50.
  • Yield: None.
  • Rewards and Incentives: NorthOne Business Banking is chock-full of useful features, including more than 300,000 ATMs in-network, unlimited subaccounts for taxes and payroll (and other functions), mobile check deposit, and unlimited number of transactions.
  • Overdraft Options: NorthOne charges a one-time overdraft fee when your account balance drops below $0. See pricing terms for more details.
  • Possible Fees: The monthly maintenance fee is $10. NorthOne may also charge for wire transfers, overdrafts, NSF transactions, and ACH/PAD returns.

Learn More


11. Axos Bank Business Interest Checking

Up to 0.81% APY on Eligible Balances

Axos Bank Logo

Axos Bank Business Interest Checking is the highest-yielding small-business checking account on this list — paying up to 0.81% annual percentage yield (APY) on qualifying balances.

Throw in a low minimum opening deposit requirement, and you’ve got a solid online business checking account for business owners looking to earn a real return on working capital.

  • Minimum Deposit and Balance Requirements: The minimum opening deposit is $100. You must maintain a $5,000 minimum average daily balance to waive the $10 monthly maintenance fee.
  • Yield: Earn 0.81% APY on balances up to $49,999.999. Earn 0.50% APY on balances between $50,000 and $249,999.999 and 0.20% on all balances above $250,000.
  • Rewards and Incentives: Enjoy unlimited domestic ATM fee reimbursements and 50 free checks when you open your account.
  • Overdraft Options: Axos Bank customers can opt into an overdraft line of credit that covers overdrafts the bank would typically return unpaid. The interest rate is variable but comparable to a high-interest credit card, and payment of at least 5% of the balance (or $25, whichever is greater) is due each statement cycle.
  • Possible Fees: $0.50 per item processed after the first 50 items each month.

For more information, read our Axos Bank review.

Learn More


12. BankProv Small Business Checking

No Deposit or Balance Requirements; Higher Deposit Insurance Limits Than FDIC-Only Accounts

New Project (4)

BankProv Small Business Checking is one of the best small-business starter accounts around. With no minimum deposit requirements or ongoing balance requirements and unlimited deposit transactions per month, it’s perfect for entrepreneurs looking to keep overhead low.

  • Minimum Deposit and Balance Requirements: There’s no minimum opening deposit or ongoing balance requirement.
  • Yield: None.
  • Rewards and Incentives: Enjoy 100% DIF insurance coverage — boosting your deposit insurance protection above the standard FDIC coverage limit.
  • Possible Fees: BankProv charges a per-item fee for ACH transfers after the first 50 each month. The monthly maintenance fee is $50, cut to $25 with a minimum daily balance of $100,000 and waived entirely with a minimum daily balance of $250,000. See terms for a complete accounting of possible fees.

Learn More


13. Citizens Bank Clearly Better Business Checking

No Monthly Maintenance Fees, Ever

Citizens Bank Logo

Citizens Bank Clearly Better Business Checking is one of the only business checking accounts that never charge a monthly maintenance fee. That’s excellent news for business owners working on thin margins.

This account also boasts a relatively high monthly limit for free transactions and generous overdraft options.

On the negative side of the ledger, it doesn’t pay interest and isn’t available in all areas — Citizens Bank’s trade area is limited to the East Coast. But if you do live in an area served by Citizens Bank, you can hardly do better.

  • Minimum Deposit and Balance Requirements: There’s no minimum opening deposit or ongoing balance requirement.
  • Yield: None.
  • Rewards and Incentives: None.
  • Overdraft Options: Citizens Bank offers two overdraft options, both opt-in: an overdraft line of credit and overdraft savings transfer program. Both charge $12 for each day an overdraft transfer occurs, regardless of the number of transfers on that day. The savings transfer option is otherwise free, but the line of credit costs $30 per year. The required credit line payment is the greater of $20 or 2% of the balance.
  • Possible Fees: $0.50 per item above the 200 monthly transaction limit.

Learn More


14. NBKC Business Checking Account

Virtually No Fees and No Balance Requirements

Nbkc bank

TheNBKC’s business checking account has no balance requirements, no monthly maintenance fees, and no transaction fees.

As part of the MoneyPass ATM network, it offers fee-free withdrawals at more than 32,000 ATMs in the U.S. and Puerto Rico.

And its simple Desktop Deposit feature — with added support from a robust mobile banking app — makes it easy to deposit checks remotely.

  • Minimum Deposit and Balance Requirements: There’s no minimum balance requirement.
  • Yield: None.
  • Rewards and Incentives: Get up to $12 in monthly refunds for ATM fees charged by any other banks worldwide, plus mobile-friendly features like bill pay.
  • Overdraft Options: NBKC offers a courtesy overdraft sweep option. See account disclosures for details on how this works.
  • Possible Fees: Other than domestic and international wire fees — $5 to send a domestic wire and $45 to send or receive an international wire — NBKC has virtually no fees.

Learn More


15. Huntington Bank Unlimited Plus Business Checking

Enjoy Access to Exclusive, Potentially Valuable Business Perks

huntington bank logo

Huntington Bank Unlimited Plus Business Checking is a powerful business checking account designed for larger businesses with high transaction volumes and complex treasury management needs. 

It has a category-leading new account opening bonus opportunity as well. Through March 7, 2022, you can earn a bonus worth $750 when you open a new account and complete these qualifying activities: 

  • Open a new Unlimited Plus Business Checking account between Nov. 1, 2021, and March 7, 2022
  • Make cumulative new money deposits of at least $20,000 within 60 days of account opening
  • Keep your account open for a minimum of 90 days

Look for your $750 bonus in your account within 14 business days after completing these activities. Then, enjoy benefits like:

  • Unlimited transactions§ and up to $25,000 in cash or currency deposits monthly in-branch or at an ATM at no charge; $0.30 fee for each $100 after
  • Waived monthly maintenance fee with $50,000 in combined deposit relationship balances (otherwise, $40/month)#
  • Your choice of two additional bonus services, such as up to 25 returned deposit items per month and two free incoming domestic wires

Disclosures:

o To be eligible for the $750 cash bonus, business customer must open a new Huntington Unlimited Plus Business, Business Analyzed, Business Non Profit Analyzed, or Business Non Profit Interest Checking account by March 7, 2022 then make a minimum cumulative new money deposit into the new checking account of at least $20,000 within 60 days of account opening.

o “New money” is defined as money that is not currently on deposit in any Huntington account
(except maturing business CDs). Account must maintain an open status for at least 90 days
before it is eligible for the bonus payment. All new accounts subject to account opening approval
and account conversions are not eligible. An Early Account Closing Fee will apply to accounts
closed within 180 days of opening.
o Your $750 bonus will be deposited into your new checking account within 14 days of meeting the
above requirements. Your business checking account must remain in an open status to receive
the bonus.

o This offer is only available to new business checking customers. All existing Huntington business
checking customers, including those with business checking accounts closed within the last six
months, are not eligible. Public Fund/Government Banking dollars and Brokers are not eligible for
this offer.
o Cash bonus does not count towards the deposit requirement. This offer cannot be used in
combination with any other offer. For tax purposes, the bonus will be reported on IRS Form
1099-INT for the year in which you receive your bonus. Huntington reserves the right to limit an
individual business owner with multiple businesses to one account-related gift incentive per
rolling 12-month period across all deposit account relationships.

§A “transaction” is any combination of checks paid, deposit tickets, deposited checks (except those you process through a remote deposit scanner), incoming ACH debits and credits, debit card purchases and bill payment transactions made through Huntington’s Online Bill Pay service.

#The business can avoid the monthly checking maintenance fee ($20.00 for Unlimited Business Checking and $40.000 for Unlimited Plus Business Checking) for any statement period on this checking account when the business keeps a total deposit relationship balance of at least $10,000 for the Unlimited Business Checking account and $50,000 for the Unlimited Plus Business Checking account in a combination of deposits held directly by us. Eligible deposits are this checking account and any other checking, money market, savings, or certificate of deposit (CD) account(s) owned by the business, but deposits owned by separate legal entities (even those that share EINs or TINs) are not eligible. We figure the total relationship deposit balance each month by adding the average daily balance for all eligible deposit account balances of the business for the applicable statement period. We calculate the average daily balance by totaling the balances in your account from the end of each day in the applicable

statement period and dividing that amount by the number of days in that period. However, for new accounts or closed accounts, we only count the number of days that the account was open during the applicable statement period for purposes of determining the average daily balance.


16. Huntington Bank Unlimited Business Checking

Access to Exclusive, Potentially Valuable Business Perks

huntington bank logo

Huntington Bank Unlimited Business Checking is built for growing businesses with higher transaction volumes and steadily increasing cash flows. 

For a limited time, it also boasts one of the best small-business bank account promotions around. Through March 7, 2022, you can earn a bonus worth $400 when you open a new  account and complete qualifying activities. Just do the following: 

  • Open a new Unlimited Business Checking account between Nov. 1, 2021, and March 7, 2022
  • Make cumulative new money deposits of at least $5,000 within 60 days of account opening
  • Keep your account open for a minimum of 90 days

You should receive your $400 bonus in your account within 14 business days after completing these qualifying activities. And you can always look forward to these great Unlimited Business Checking benefits:

  • Unlimited transactions§ and up to $10,000 in cash or currency deposits monthly in-branch or at an ATM at no charge; $0.30 fee for each $100 after
  • Waived monthly maintenance fee with $10,000 in combined deposit relationship balances (otherwise, $20/month)#
  • Your choice of one additional bonus service, such as two incoming domestic wire transfers per month

Learn More

Disclosures:

o To be eligible for the $400 cash bonus, business customer must open a new Huntington Unlimited Business, Unlimited Plus Business, Business Analyzed, Business Non Profit Analyzed, or Business Non Profit Interest Checking account by March 7, 2022 then make a minimum cumulative new money deposit into the new checking account of at least $5,000 within 60 days of account opening.

o “New money” is defined as money that is not currently on deposit in any Huntington account
(except maturing business CDs). Account must maintain an open status for at least 90 days
before it is eligible for the bonus payment. All new accounts subject to account opening approval
and account conversions are not eligible. An Early Account Closing Fee will apply to accounts
closed within 180 days of opening.
o Your $400 bonus will be deposited into your new checking account within 14 days of meeting the
above requirements. Your business checking account must remain in an open status to receive
the bonus.
o This offer is only available to new business checking customers. All existing Huntington business
checking customers, including those with business checking accounts closed within the last six
months, are not eligible. Public Fund/Government Banking dollars and Brokers are not eligible for
this offer.
o Cash bonus does not count towards the deposit requirement. This offer cannot be used in
combination with any other offer. For tax purposes, the bonus will be reported on IRS Form
1099-INT for the year in which you receive your bonus. Huntington reserves the right to limit an
individual business owner with multiple businesses to one account-related gift incentive per
rolling 12-month period across all deposit account relationships.

§A “transaction” is any combination of checks paid, deposit tickets, deposited checks (except those you process through a remote deposit scanner), incoming ACH debits and credits, debit card purchases and bill payment transactions made through Huntington’s Online Bill Pay service.

#The business can avoid the monthly checking maintenance fee ($20.00 for Unlimited Business Checking and $40.000 for Unlimited Plus Business Checking) for any statement period on this checking account when the business keeps a total deposit relationship balance of at least $10,000 for the Unlimited Business Checking account and $50,000 for the Unlimited Plus Business Checking account in a combination of deposits held directly by us. Eligible deposits are this checking account and any other checking, money market, savings, or certificate of deposit (CD) account(s) owned by the business, but deposits owned by separate legal entities (even those that share EINs or TINs) are not eligible. We figure the total relationship deposit balance each month by adding the average daily balance for all eligible deposit account balances of the business for the applicable statement period. We calculate the average daily balance by totaling the balances in your account from the end of each day in the applicable

statement period and dividing that amount by the number of days in that period. However, for new accounts or closed accounts, we only count the number of days that the account was open during the applicable statement period for purposes of determining the average daily balance.


17. Huntington Bank Business Checking 100

Enjoy Access to Exclusive, Potentially Valuable Business Perks

huntington bank logo

Huntington Bank Business Checking 100 is a maintenance-fee-free small-business checking account for startups and established businesses. It’s ideal for entities with modest account balances and lower transaction volumes.

For a limited time, Business Checking 100 has a solid account opening bonus opportunity too. Open a new Huntington Bank Business Checking 100 account and complete the following qualifying activities for the opportunity to earn a $100 bonus:

  • Open a new Business Checking 100 account between Nov. 1, 2021, and March 7, 2022
  • Make cumulative new money deposits of at least $2,000 within 60 days of account opening
  • Keep your account open for a minimum of 90 days

Look out for your $100 bonus in your account within 14 business days after completing these activities. Then, take advantage of Business Checking 100 benefits like:

  • 100 monthly transactions§
  • Deposit up to $5,000 in cash or currency monthly in-branch or at an ATM#
  • Free 120-day trial of a fraud tool: Reverse Positive Pay
  • No monthly maintenance fee

Disclosures:

o To be eligible for the $100 cash bonus, business customer must open a new Huntington Business Checking 100, Unlimited Business, Unlimited Plus Business, Business Analyzed, Business Non Profit Analyzed, or Business Non Profit Interest Checking account by March 7, 2022 then make a minimum cumulative new money deposit into the new checking account of at least $2,000 within 60 days of account opening.
o “New money” is defined as money that is not currently on deposit in any Huntington account
(except maturing business CDs). Account must maintain an open status for at least 90 days
before it is eligible for the bonus payment. All new accounts subject to account opening approval
and account conversions are not eligible. An Early Account Closing Fee will apply to accounts
closed within 180 days of opening.

o Your $100 bonus will be deposited into your new checking account within 14 days of meeting the
above requirements. Your business checking account must remain in an open status to receive

the bonus.
o This offer is only available to new business checking customers. All existing Huntington business
checking customers, including those with business checking accounts closed within the last six
months, are not eligible. Public Fund/Government Banking dollars and Brokers are not eligible for
this offer.

o Cash bonus does not count towards the deposit requirement. This offer cannot be used in
combination with any other offer. For tax purposes, the bonus will be reported on IRS Form
1099-INT for the year in which you receive your bonus. Huntington reserves the right to limit an
individual business owner with multiple businesses to one account-related gift incentive per
rolling 12-month period across all deposit account relationships.

§A “transaction” is any combination of checks paid, deposit tickets, deposited checks (except those you process through a remote deposit scanner), incoming ACH debits and credits, debit card purchases and bill payment transactions made through Huntington’s Online Bill Pay service.

#Deposit up to $5,000 in cash or currency monthly in-branch or at an ATM at no charge; $0.30 fee for each $100 after.


18. TIAA Bank Business Checking

High Monthly Transaction Limit

Tiaa Bank Logo

TIAA Bank’s business checking account boasts low- or no-cost overdraft protection options and a robust suite of mobile-friendly features.

It’s ideal for customers who can make the $1,500 minimum opening deposit and keep enough cash on hand ($5,000 or more) to waive the monthly maintenance fee

A reasonably high monthly transaction limit appeals to businesses with active cash flows.

  • Minimum Deposit and Balance Requirements: The minimum opening deposit is $1,500. You’ll avoid the $14.95 monthly maintenance fee if you have a minimum daily balance of $5,000 or more.
  • Yield: None.
  • Rewards and Incentives: None.
  • Overdraft Options: There’s no monthly or per-item fee for TIAA Bank’s overdraft protection services, which include money market transfers (with a qualifying linked account) and a credit line. If you enroll in an overdraft protection line of credit, the late payment fee is $25.
  • Possible Fees: $0.25 per item above the 200 monthly transaction limit; $0.50 per item above the 10 monthly online bill payments limit.

Learn More


19. U.S. Bank Silver Business Checking Package

No Monthly Maintenance Fee; 50% Discount on Your First Check Order

TheU.S. Bank Silver Business Checking Package is one of the few maintenance-fee-free small-business checking accounts offered by a major national bank. 

Designed for sole proprietors, high-growth startups, and established mom-and-pop businesses alike, it’s ideal for entities with relatively low transaction volumes and straightforward money management needs. 

Highlights include 25 free cash deposits each statement cycle, deep discounts on fees for personal banking through U.S. Bank’s Gold Personal Package account, and overdraft protection with a Business Reserve Line. 

  • Minimum Deposit and Balance Requirements: The minimum opening deposit is $100. There’s no ongoing monthly balance requirement.
  • Yield: None.
  • Rewards and Incentives: Get 50% off your first check order up to $50. Plus, get 50% off the monthly maintenance fee on a U.S. Bank Gold Personal Package (personal bank account).
  • Overdraft Options: Open a Business Reserve Line of credit with U.S. Bank and link it to your U.S. Bank Silver Business Checking Package for overdraft protection. All business credit lines are subject to credit approval and fees may apply on overdraft transfers. Speak with a banker for more information.
  • Possible Fees: $0.50 per item above the 125 free monthly transaction limit. The first 25 cash deposits each month are free at U.S. Bank branch locations or ATMs.

Learn More


Final Word

These small-business checking accounts aren’t always the stars of the show at their respective online banking institutions.

Most of these banks offer multiple personal and business deposit accounts. Several make our lists of banks with the best CD rates and the best money market rates, and some offer enticing high-yield savings accounts to boot.

So even if you come for the low-cost small-business checking, you could find yourself staying for more. There’s something to be said for doing all your banking under one roof — and your bank certainly won’t mind.

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Источник: https://www.moneycrashers.com/best-business-checking-accounts/

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Features:

  • No monthly service fee
  • Two signers

Best For:

  • New businesses
  • Limited cash flow activity

APY2

0.01%

Features:

  • Monthly service fee of $8
  • Unlimited signers

Best For:

  • Growing businesses
  • Multiple owners
  • Steady banking activity

APY

0.01%

Features:

  • Monthly service fee of $0 or $203
  • Unlimited signers

Best For:

  • Mature businesses
  • Large transaction volumes
  • Higher deposit balances
  • Multiple owners
$0-$9,999:0.35%
$10,000-$24,999:0.40%
$25,000 & over:0.45%

The GO BIZ Debit Card is designed to help keep your business moving forward.

  • Contactless, tap-to-pay technology
  • A Zero Liability policy for unauthorized transactions
  • Visa® Travel Accident Insurance

about Navy Federal's commercial real estate loan offeri

Features:

  • No term restrictions
  • Competitive rates
  • Minimum of $2,500 balance to earn dividends
  • Earns more than a standard savings account without term restrictions

Best For:

  • Businesses looking for higher earnings than a standard savings account

Jumbo dividend rate earned on balances of $100,000 or more

Features:

  • No term restrictions
  • Competitive rates
  • Minimum of $100,000 balance to earn jumbo dividend rate

Best For:

  • Businesses with the ability to maintain higher balances on deposit
  • Businesses interested in earning a jumbo dividend rate

Higher dividends earned through longer maturities

Features:

  • Minimum purchases as low as $100
  • No maximum purchase amount (excluding special promotions and offers)
  • 3-month to 7-year terms available

Best For:

  • Businesses prioritizing earning the highest dividend rate without needing flexible access to savings

Join Today and become a Business Solutions member

If you’re already a business member, follow these easy steps:

1

Non-electronic transactions are defined as checks processed and in-branch transfers, deposits and withdrawals. Up to 12 checks for deposit at a branch will count as one transaction.

2

 Rates on variable rate accounts could change after account opening. Fees may reduce earnings. Offering rates may change.

3

Monthly service fee waived if average daily balance is $5,000 or more. Otherwise, a $20 monthly service fee will apply.

4

Maintain a minimum daily balance of $1,500 to earn dividends.

Источник: https://www.navyfederal.org/services/business/checking-savings.html

Final Verdict

From sign-up bonuses to easy cash deposits, business bank account features can vary greatly. Consider all the characteristics before choosing where to bank.

Whatever perk or feature most matters to you, having the right business bank account is crucial to your business. This account is where your deposits are made and expenses are paid.

And, as your business continues to grow, it makes sense to re-evaluate your business bank account each year. Pay attention to the transaction limits, fees, restrictions, and benefits to ensure that yesterday's account is the right one for your business today—and tomorrow, as well.

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Business Bank Accounts FAQs

What Is a Business Bank Account?

A business bank account is a checking account set up specifically for business incomes and outflows, allowing individuals to keep their professional financial affairs and transactions separate from their personal ones. Business accounts often provide features that are uncommon for individual accounts. These features include initiating wires or ACH payments, delegating account authority/privileges to other parties (like an employee or accountant), and cash management tools like positive pay.

What Is the Difference Between a Business Bank Account and a Personal Bank Account?

Although business bank accounts and personal bank accounts are similar in many ways, the do have their differences. A business bank account has more requirements to open than a personal account.

Fees and required balances also tend to be higher for business bank accounts, while interest rates are lower. Business bank accounts usually allow a limited number of transactions before the bank charges additional fees.

Since a business bank account represents the business and not a person, authorized signers can be added or removed at any time without needing to close the account.

What Do You Need to Open a Business Bank Account?

Requirements to open a business bank account vary by the financial institution. However, most banks require the following:

  • Employer Identification Number (EIN) or Social Security Number for sole proprietors
  • Business formation documents
  • Ownership agreements
  • Business license

Account signers need to bring their personal identification to open the account. Most banks require an initial deposit to fund the account when it is opened; the minimum opening deposit requirements vary by the bank—and can be a key factor, along with ongoing minimum account balances, to consider when choosing one.

Can I Open a Business Bank Account Online?

Yes, there are many banks that allow you to open an account online in just a few minutes. Several of these banks are mentioned above. To open your business bank account online, the bank will require all of the same paperwork as if you opened the account in person.

Can I Use My Personal Bank Account for My Small Business?

You can use your personal bank account for a small business, like a sole proprietorship. However, it is best not to. Having a dedicated bank account for your business allows you to keep your business deposits and expenses separate from personal transactions. This is very important when it comes to filing taxes.

Do I Need a Business Account If I'm Self-employed?

You do not need a separate business account if you are operating your business under your own name. However, it is recommended that you have a dedicated, separate bank account to make it easier to track business revenue and expenses.

If you are operating your sole proprietorship under a fictitious business name or as a separate legal entity (e.g. C-Corp, S-Corp, LLC), then you need to have a separate business bank account.

Is It Legal to Transfer Money From a Business Account to a Personal Bank Account?

Yes, it is legal to transfer money from a business account to a personal account. However, if you have partners or shareholders in your company, it is not advisable to make such a transfer without their written consent. All transactions into and out of a business account should be documented for good recordkeeping, tax purposes, and in case of an audit.

Some banks allow you (and, like Chase, even encourage you) to link your personal and business accounts. Depending upon the legal structure of your business, some banks even allow your business and personal accounts to be viewed on the same online banking screen. This makes transfers between accounts simple and quick.

Methodology

Research for this article encompassed business bank accounts from across the U.S. We evaluated the benefits offered, transaction limits, fees charged, and customer service of each business bank account reviewed to determine the "best of" designation for each category.

Источник: https://www.investopedia.com/best-small-business-bank-accounts-4797849

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