You can open an account online with many traditional banks; however, online-only banks often have an advantage due to their attractive interest rates and minimal to no banking fees. The best online business bank accounts provide generous yields, low fees, and integrations with popular business tools. They also feature user-friendly platforms, ATM access, and banking products and services that simplify your business operations.
Here is a list of our 10 best online business bank accounts.
Best online business bank accounts quick comparison
The table below reflects the top factors I evaluated for the 10 best online business bank accounts.
| Mercury Business Checking | |||||
| Novo Business Checking | |||||
| Bluevine Standard | |||||
| Relay Business Checking | |||||
| Found Business Checking | |||||
| Grasshopper Innovator Business Checking | |||||
| Live Oak Bank Business Savings | |||||
| North One Standard | |||||
| First Internet Bank Do More BusinessTM Checking | |||||
| Lili Basic |
Mercury Business Checking: Best overall online business bank account
Our rating: 4.40 out of 5
Mercury
is a fintech that supports startups, ecommerce, and venture capital firms. It offers a fee-free checking account with solid startup products and services, like venture debt, simple agreements for future equity (SAFEs), and investor community programs. Applying for an online account takes 10 minutes, and approvals are typically done in a day or two. You can also access high FDIC coverage
of up to $5 million via sweep networks with partner banks.
Learn more about its features by reading our Mercury business checking review.
Why I chose it
Mercury Business Checking is my overall best online business bank account for startup businesses because it offers a largely fee-free account with no initial deposit or monthly fees. I like how it lets you save more with its free domestic and international USD wire transfers. It also provides a wide array of startup solutions, which include an investor database and networking program for company founders to pitch ideas, raise funding, and access mentorship opportunities.
Monthly fees
- Mercury Business Checking: $0.
- Mercury Plus: $35.
- Mercury Pro: $350.
Special Offer: Earn $200 by depositing $10,000 within your first 90 days.
Minimum opening deposit: None.
APY: None.
ATM fees: None at 55,000 Allpoint ATMs.
Features
- Physical and virtual debit cards.
- 14 subaccounts.
- QuickBooks, NetSuite, and Xero accounting software integrations.
- Compatible with Shopify, Stripe, Square, Zapier, Amazon, and PayPal.
- Advanced accounting automation under a subscription plan.
- Mercury investor database and Mercury Raise program for networking and funding.
- SAFE is an early financing option for startup companies.
- No-annual-fee Mercury corporate card with 1.5% cash back on all purchases.
Pros and cons
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Novo Business Checking: Best for speedy fund access and express payments
Our rating: 4.28 out of 5
Novo
offers a well-regarded online business account, Novo Business Checking. This fee-free account saves users from paying monthly fees, standard ACH fees, and incoming domestic wire transfer fees. With Novo Boost, you can receive your Stripe payments faster, and send payments rapidly using Express ACH. Additionally, Novo offers ATM fee refunds of up to $7 monthly and allows for low-cost international payments through its partnership with Wise.
Check out our Novo business checking review to learn more about Novo’s features and fee structure.
Why I chose it
I believe Novo Business Checking is an excellent account for small businesses that rely on fast collection of customer payments to boost their working capital. You won’t need to wait for days for Stripe payouts and can receive them in a matter of hours. It’s also easy to increase your product inventory by paying your suppliers through Express ACH, where payments can be reflected on the same day. Additionally, Novo simplifies expense organization with up to 20 reserve accounts for categorizing income and expenses.
Monthly fees
- Novo Business Checking: $0.
Minimum opening deposit: None.
APY: None.
ATM fees: None; reimbursement of up to $7 monthly.
Features
- Physical and virtual debit cards.
- ATM fee refunds each month.
- Free incoming wire transfers and standard ACH fees.
- Low-fee international payments from Wise partnership.
- Integrates with QuickBooks, Stripe, Square, and PayPal.
- Free and unlimited invoicing.
- Discounts on QuickBooks, Stripe, and Google Cloud through Novo perks.
- Up to $75,000 merchant cash advance via Novo Funding.
Pros and cons
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Bluevine Standard: Best for interest-earning checking accounts
Our rating: 4.28 out of 5
Bluevine
is an excellent fintech solution that offers three business checking options with competitive rates, unlimited debit card cash back, and a top-tier line of credit. You can access multiple accounting and business payment software, extended FDIC insurance of up to $3 million, and speedy international payments. Applying for a Bluevine checking account is convenient and can be completed online in minutes. Approvals can also be as fast as 24 hours.
Bluevine earned the top spot in our roundup of best free business checking accounts for offering multiple interest-earning checking accounts with waived or waivable fees.
Why I chose it
I picked Bluevine Standard as one of the best online business bank accounts because, as a starter account, it offers a good APY of 1.5% on qualifying deposits up to $250,000. You also save a lot since this account has no required opening deposit, monthly fee, or standard ACH fees. Even more impressive, domestic wire transfers are free, and transactions are unlimited. Additionally, you can deposit cash at Green Dot and Allpoint+ ATMs.
Monthly fees
- Bluevine Standard: $0.
- Bluevine Plus: $30; waivable by having:
- An ADB of $20,000 across your Bluevine checking account, including subaccounts.
- A spend of $2,000 monthly using your Bluevine debit or credit card.
- Bluevine Premier: $95; waivable by meeting:
- An ADB of $100,000 across your Bluevine checking account, including subaccounts.
- A spend of $5,000 monthly using your Bluevine debit or credit card.
Minimum opening deposit: None.
APY: Up to 3.7% (Bluevine Premier).
ATM Fees: None at MoneyPass locations; $2.50 for nonnetwork.
Features
- QuickBooks, Xero, and Wave integrations.
- Wise, Venmo, CashApp, and Square compatibility.
- Free ATM access at over 37,000 MoneyPass locations.
- Lines of credit of up to $250,000 at low rates.
- Offers a free checkbook
annually. - International payments to 32 countries in 15 currencies.
- FDIC insurance of up to $3 million.
- Business credit card with unlimited cashback and no annual fee.
Pros and cons
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Relay Business Checking: Best for large teams seeking more accounts and debit cards
Our rating: 4.23 out of 5
Ideal for multi-member teams, the digital fintech Relay
offers a business checking account that has no required minimum balance, opening deposit, or monthly fee. You get customizable debit cards, additional subaccounts, and low outgoing wire transfer fees. Apart from its free business checking account, Relay also offers a higher-tier plan, Relay Pro, which costs $30 monthly.
With Relay Pro, you get 50 same-day ACH transfers, fee-free wire transfers, and the option to batch bill payments. In addition, you can also open up to two business savings accounts with tiered APY. Learn about its key features by reading our Relay business checking review.
Why I chose it
Relay makes managing your business finances easy. You can set up to 20 reserve accounts and issue up to 50 debit cards for your team, all while keeping spending in check. You can customize permissions so team members can handle ACH, wire, and check payments, as well as bill approvals. What I also like about it is access to a 24/7 virtual assistant, or you can connect with a live agent anytime. Plus, you can make unlimited transactions and transact for free at Allpoint ATMs.
Monthly fees
- Relay Business Checking: $0.
- Relay Pro: $30 per business; not waivable.
Minimum opening deposit: None.
APY: None but available for savings account.
ATM fees: None at Allpoint locations; third-party fees can apply at nonnetwork.
Features
- Shared account access.
- Issue up to 50 free debit cards per business.
- Free outgoing wires and same-day ACH under Relay Pro.
- Integrates with QuickBooks, Xero, Gusto, and Plaid.
- Compatible with PayPal, Stripe, Square, Wise, and Venmo.
- Tiered APY for Relay business savings accounts.
- Relay Visa® Credit Card is available by invitation.
- AI chatbot, including email, chat, and phone support.
Pros and cons
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Features
- Tax tools for payment, auto-saving, and write-offs.
- Free and unlimited invoices.
- QuickBooks integration and built-in Found bookkeeping software.
- Payment integrations include PayPal, Cash App, Square, Stripe, and Venmo.
- No credit checks and ACH fees.
- No ATM fees since Found does not charge for ATM withdrawals
. - 1.5% APY on balances up to $20,000 for Found Plus subscribers.
- Customized bookkeeping and priority customer service under Found Plus.
Pros and cons
| Pros | Cons |
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Grasshopper Innovator Business Checking: Best free payment software
Our rating: 3.97 out of 5
Grasshopper Innovator Business Checking is a top choice for online bank business accounts, with a quick five-minute application and a $100 initial deposit requirement, but no monthly fees. The online-only Grasshopper Bank
offers two account types: Innovator for small to mid-sized businesses and Accelerator for early-stage startups and investment firms. Other products include money market accounts with higher APYs, startup banking services, treasury management, CRE
loans, and SBA
loans.
Take a look at our Grasshopper business checking review to find out if it suits your business needs.
Why I chose it
I appreciate the many benefits of opening a Grasshopper checking account, such as no monthly fees, unlimited transactions, and cash back on debit card purchases. However, its free access to Autobooks payment and invoicing software is a standout feature (normally priced at $9.99 monthly). You can also earn an uncapped APY of up to 1.80% from your Innovator Checking account which increases to 3.55% when you pair it with an Innovator Money Market Savings account and maintain a balance of over $25,000.
Monthly fees
- Grasshopper Innovator Checking: $0.
- Grasshopper Accelerator Checking: $0.
Minimum opening deposit: $100.
APY: Tiered up to 1.80%.
ATM fees: None at MoneyPass & SUM network.
Features
- Free physical and virtual Visa rewards debit cards.
- Free bill pay and check deposit services.
- Free domestic ACH and wire transfers for qualified balances.
- Up to 3.55% APY when paired with an Innovator Savings account.
- Unlimited 1% cash back on online and signature-based purchases.
- Autobooks, QuickBooks, and Plaid integrations.
- FDIC insurance of up to $125 million.
- US-based customer support via phone, email, chat, and secure message.
Pros and cons
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Live Oak Bank Business Savings: Best high-APY savings and SBA financing
Our rating: 3.92 out of 5
Live Oak Bank
is an online-only bank that has one of the highest APY at 3.70% in the market. With no required opening deposit, monthly fee, and only a 1-cent requirement to earn interest, it is an easy choice for businesses seeking additional earnings for idle funds. You can also access an FDIC-insurance coverage of up to $10 million via its insured cash sweep program.
Why I chose it
It is easy to see why Live Oak Business Savings is often included in the best online business bank accounts with its excellent interest rate on balances above one cent. As one of the best small business online banks, you can access multiple products, such as business checking, certificates of deposit (CDs), SBA loans, and commercial loans. If SBA financing is one of your business needs, you can readily apply online. It is one of the top SBA lenders from 2023 to 2024.
Monthly fees
- Live Oak Bank Business Savings: $0.
Minimum opening deposit: None.
APY: 3.70%.
ATM fees: N/A (no debit card issued for savings).
Features
- High-yield CDs.
- No incoming wire transfer fees.
- Integrates with QuickBooks.
- Up to $10 million in FDIC coverage through Insured Cash Sweep (ICS).
- Three business checking accounts are available.
- SBA loans and commercial lending.
- Live Oak Express loans from $10,000 to $500,000.
- Personalized customer service from a North Carolina-based team.
Pros and cons
| Pros | Cons |
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North One Standard: Best for budgeting and multiple software integrations
Our rating: 3.90 out of 5
North One
is a fintech platform linking up sales, payments, spending, and budgeting in a single account. You can open a standard bank account online with a $50 initial deposit and no monthly fees. It allows unlimited ACH and domestic wire deposits. If you frequently make wire transfers, North One Plus offers lower fees and additional support features. The platform also provides online applications for lines of credit and term loans up to $250,000.
Why I chose it
I recommend North One for small businesses due to its budgeting tool, Envelopes, which helps allocate funds for various expenses. This is the main reason North One is included in our list of the best free business checking accounts. I also consider it one of the best business accounts for online businesses since it integrates with over 50 accounting and productivity tools, allowing you to track sales, expenses, and payments efficiently in one place.
Monthly fee
- North One Standard Account: $0.
- North One Plus Account: $20.
Minimum opening deposit: $50.
APY: 2.5% for Standard and 3.0% for Plus plans.
ATM fees: None but third-party fees may apply; two reimbursements for Standard and six for Plus clients.
Features
- Account opening approval as fast as three minutes.
- Physical and virtual cards for each owner.
- Free bill pay and unlimited ACH and domestic wire deposits.
- Integrates with QuickBooks, Wave, Patriot Accounting, Zoho, and more.
- Compatible with Stripe, PayPal, Square, Shopify, Amazon, and eBay.
- Paper checks can be sent via the North One account.
- Discounts and free trials of business software and productivity tools.
- Cash deposits are available at Green Dot retail locations with one fee refund for Standard users and three for Plus users.
Pros and cons
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First Internet Bank Do More Business™ Checking: Best for uncapped interest
Our rating: 3.89 out of 5
The Do More Business™ Checking product of First Internet Bank
offers unlimited transactions with no monthly fees and no charges for ACH and ATM transactions (though third-party fees may apply). It provides monthly ATM fee refunds of up to $10 and integrates with QuickBooks and Zelle. The Balance Optimizer feature allows you to earn higher yields by automatically transferring excess funds to a money market or business savings account for better yields.
Why I chose it
I picked First Internet Bank’s Do More Business™ Checking as one of the top online bank business accounts even with a lower APY of 0.50%
since the rate is uncapped. The bank also provides a full range of business banking products and allows you to open additional accounts like high-yield CDs, business savings, and lines of credit online. Additionally, its customer service hours are longer, including Saturdays.
Monthly fees
- Do More BusinessTM Checking: $0.
Minimum opening deposit: $100.
APY: 0.50% with an ADB
of $10,000.
ATM fees: None at Plus Alliance ATMs around the US, up to $10 monthly reimbursement in ATM fees.
Features
- Uncapped 0.50% APY for accounts with $10,000 daily balance.
- Integrates with QuickBooks and Zelle.
- Refunds ATM operator surcharges up to $10 monthly.
- Remote deposit capture, bill pay, and sweep services.
- Cash flow forecasting via Cash Flow Analysis.
- Maximum interest using Balance Optimizer.
- Money market, savings, CDs, and lending.
- Chat, phone, and email support daily, except Sundays.
Pros and cons
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Lili Basic: Best for built-in accounting and high-yield savings
Our rating: 3.83 out of 5
Lili
is a strong contender among online banks, offering free business checking (Lili Basic) and three premium options (Lili Pro, Lili Smart, and Lili Premium) for various business needs. It features a high yield of 3.00% APY on savings accounts and provides bookkeeping solutions with paid plans. Users can create unlimited customized invoices and connect to payment apps like Venmo, CashApp, or PayPal. Customer support is available via a toll-free phone number and email.
Why I chose it
Lili Basic is one of my choices because of its integrated accounting features and competitive savings account rates. You can easily switch plans as you scale with Lili’s various checking account options that adapt to your business needs. Under a paid plan, you gain access to expense management tools, financial reports, receipt capture, and automated bookkeeping. Additionally, I find Lili’s chat-based AI accounting assistance convenient for personalized help with your queries.
Monthly fees
- Lili Basic: $0.
- Lili Pro: $9.
- Lili Smart: $21.
- Lili Premium: $33.
Minimum opening deposit: None.
APY: None but available for savings accounts (3.00%).
ATM fees: None at MoneyPass locations; $2.50 at nonnetwork.
Features
- Debit card cashback rewards.
- Integrations with QuickBooks, Venmo, PayPal, CashApp, and more.
- Unlimited invoice creation (Lili Smart and Lili Premium).
- Prefilled tax forms (Lili Smart and Lili Premium).
- Bookkeeping solutions (Lili Pro, Lili Smart, and Lili Premium).
- Dun & Bradstreet partnership for analytics and credit reporting solutions.
- Lili AI Accountant.
- Toll-free phone and email support from Monday through Friday.
Pros and cons
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How to choose the best online banks
I looked at the following factors when evaluating and assigning a rating for the best online banks:
- Monthly fees and waiver conditions.
- Minimum opening deposit and required maintaining balances.
- Interest rate offered.
- ATM fees and transaction limits, including ATM network availability.
- Cash deposit options.
- Wire transfer costs.
- Account features.
- Business software integrations.
- Business products and services offered.
- Customer support availability.
- App ratings.
Methodology
Before finalizing my roundup of the best online business bank accounts, I reviewed each bank’s interest rate offers and fee structures. This included the monthly fees, opening balance requirements, and ATM fees. I also assessed the ease of account opening and examined the availability of customer support, additional banking products, account features, and app ratings. Additionally, I evaluated cash deposit options and monthly transaction limits.
Frequently asked questions
How do I open an online business bank account?
Opening a business bank account online is straightforward. You simply need to visit the bank’s website, provide your personal and business information, and submit the required documents for your business entity. Once the bank completes verification and approves your account, you can start depositing funds and linking business software integrations.
What features should I look for in an online business bank account?
When considering an online business bank account, you can see which business bank account is best by evaluating the fee structure, including monthly service charges and minimum balance requirements. It’s also essential to consider customer support, a user-friendly platform, business tools, and banking products that facilitate your operations.
What fees are associated with online business bank accounts?
When choosing the right bank for your business, research the fees of online business accounts among different providers. These may include fees on monthly maintenance, transactions, cash deposits, wire transfers, and ATM access when using your business debit card.
Are there any minimum balance requirements for online business bank accounts?
Many online business bank accounts don’t require a minimum balance. However, some may stipulate a specific amount to earn an APY, cash back rewards, or to qualify for a monthly maintenance fee waiver.
How much money do you need to open a business bank account?
Many financial providers do not require a minimum opening deposit when establishing a business bank account, especially fintech companies. A few may require an initial deposit ranging from $25 to $100 for business checking accounts, while higher opening deposits may be asked for savings products like money market accounts and CDs.
What features do the best online business bank accounts have in common?
The best online business bank accounts typically offer high interest rates, low fees, and no monthly fees. Digital providers often have a simple account opening process with a user-friendly platform. Additionally, it also features software integrations that simplify business operations, such as QuickBooks. See our list of the best banks that integrate with QuickBooks.
How long does it take for your business checking account to be opened online?
Opening a business checking account online can be completed in just a few minutes. However, in some cases, the financial institution may request more information and documents, which could extend the account opening period.