As an entrepreneur, managing your business finances efficiently is crucial for success. One of the most significant expenses for any business is banking fees, which can quickly add up and eat into your profits. Fortunately, many banks and financial institutions now offer free business checking accounts, providing a cost-effective solution for small business owners.
Choosing the right free business checking account is crucial for entrepreneurs seeking to minimize costs and maximize efficiency. This comprehensive guide explores the top 15 providers offering free business checking accounts in 2024, evaluating their features, pros, and cons to help business owners make an informed decision.
15 Best Free Business Checking Accounts Provider in 2024

1. Chase Bank – Business Complete Banking
Chase Bank’s Business Complete Banking account is a popular choice among small business owners. With a $0 monthly service fee and no minimum balance requirement, this account offers a seamless banking experience tailored for businesses.
Features:
- No monthly service fee
- Unlimited electronic deposits
- 20 free monthly teller/Chase banker transactions
- Complimentary Chase business debit card
- Access to Chase’s online and mobile banking platforms
- Free online bill pay and account alerts
Pros:
- No monthly service fee, making it cost-effective for businesses
- Nationwide branch and ATM network for convenient access
- Robust digital banking tools for managing finances on-the-go
- Dedicated small business support and resources
Cons:
- Limited free cash deposits (only $5,000 per statement cycle)
- Fees for certain transactions, such as wire transfers and stop payments
- Higher transaction fees if you exceed the monthly allowance
2. Bank of America – Business Advantage Fundamentals Banking
Bank of America’s Business Advantage Fundamentals Banking account is a solid option for small businesses seeking a free checking account with valuable perks and a strong nationwide presence.
Features:
- No monthly maintenance fee
- 200 free monthly transactions (deposits, checks, and withdrawals)
- Mobile check deposit
- Overdraft protection services
- Online and mobile banking with bill pay
- Relationship rewards program
Pros:
- No monthly service fee, helping businesses save on costs
- Extensive branch and ATM network across the United States
- Robust online and mobile banking tools for convenient account management
- Relationship rewards program offers potential benefits and discounts
Cons:
- $35 annual fee for paper statements (can be waived by going paperless)
- Fees for certain transactions, such as wire transfers and stop payments
- Limited free transactions, with additional charges for exceeding the monthly limit
3. Wells Fargo – Simple Business Checking
Wells Fargo’s Simple Business Checking account is designed for small businesses with basic banking needs, offering a straightforward and fee-free experience with essential features.
Features:
- No monthly service fee
- 50 free monthly transactions (deposits, checks, and withdrawals)
- Mobile check deposit
- Online bill pay
- Access to Wells Fargo’s online and mobile banking platforms
- 24/7 customer service
Pros:
- No monthly service fee, making it an affordable option for small businesses
- Extensive branch and ATM network nationwide
- User-friendly online and mobile banking platforms
- Dedicated small business support and resources
Cons:
- Limited free transactions, with additional charges for exceeding the monthly limit
- Fees for certain transactions, such as wire transfers and stop payments
- Fewer features compared to other business checking accounts
4. NBKC Bank – Free Business Checking
NBKC Bank’s Free Business Checking account is an excellent choice for small businesses looking for a no-frills, fee-free banking experience with unlimited transactions.
Features:
- No monthly service fee
- Unlimited transactions
- Free online banking and bill pay
- Mobile check deposit
- Integrated with popular accounting software (e.g., QuickBooks, Xero)
- Free debit card and ATM access
Pros:
- No monthly service fee or minimum balance requirement
- Unlimited free transactions, ideal for businesses with high transaction volumes
- Robust digital banking tools for seamless account management
- Integrations with popular accounting software for streamlined bookkeeping
Cons:
- Limited branch network (primarily in Kansas and Missouri)
- No cash deposit capabilities at branches
- Limited in-person support and resources
5. First Internet Bank – Free Business Checking
First Internet Bank’s Free Business Checking account is a fully digital solution designed for small businesses seeking a fee-free and convenient banking experience with no physical branch limitations.
Features:
- No monthly service fee
- Unlimited free transactions
- Free online banking and bill pay
- Mobile check deposit
- Integrated with popular accounting software (e.g., QuickBooks, Xero)
- Free debit card and ATM access
Pros:
- No monthly service fee or minimum balance requirement
- Unlimited free transactions, ideal for businesses with high transaction volumes
- Robust digital banking tools for convenient account management
- Integrations with popular accounting software for streamlined bookkeeping
- No physical branch limitations, catering to businesses nationwide
Cons:
- No physical branch locations for in-person support
- Limited cash deposit options (must use third-party services)
- Fewer in-person support and resources compared to traditional banks
6. Novo – Free Business Checking
Novo is a modern fintech company offering a free business checking account designed for entrepreneurs and small business owners seeking a user-friendly digital banking experience.
Features:
- No monthly service fee
- Unlimited transactions
- Free online banking and bill pay
- Integrations with popular accounting software (e.g., QuickBooks, Xero)
- Automated expense tracking and categorization
- Virtual debit card and mobile wallet support
Pros:
- No monthly service fee or minimum balance requirement
- Unlimited free transactions, ideal for businesses with high transaction volumes
- Seamless integrations with accounting and financial tools for efficient bookkeeping
- Automated expense tracking and categorization for simplified expense management
- User-friendly mobile app and digital banking experience
Cons:
- No physical branch locations for in-person support
- Limited cash deposit options (must use third-party services)
- Fewer in-person support and resources compared to traditional banks
7. Axos Bank – Basic Business Checking
Axos Bank’s Basic Business Checking account is a fee-free option for small businesses seeking a straightforward and efficient banking experience with robust digital capabilities.
Features:
- No monthly service fee
- 200 free monthly transactions
- Free online banking and bill pay
- Mobile check deposit
- Unlimited domestic ATM fee reimbursements
- Integrated with popular accounting software (e.g., QuickBooks, Xero)
Pros:
- No monthly service fee or minimum balance requirement
- Robust digital banking tools for convenient account management
- Unlimited domestic ATM fee reimbursements for added convenience
- Integrations with popular accounting software for streamlined bookkeeping
Cons:
- Limited branch network (primarily in California, Nevada, and Utah)
- Fees for certain transactions (e.g., wire transfers, stop payments)
- Limited free transactions, with additional charges for exceeding the monthly limit
8. Radius Bank – Free Business Checking
Radius Bank’s Free Business Checking account is a great choice for small businesses looking for a fee-free and flexible banking solution with digital capabilities and no physical branch limitations.
Features:
- No monthly service fee
- Unlimited transactions
- Free online banking and bill pay
- Mobile check deposit
- Integrated with popular accounting software (e.g., QuickBooks, Xero)
- Virtual debit card and mobile wallet support
Pros:
- No monthly service fee or minimum balance requirement
- Unlimited free transactions, ideal for businesses with high transaction volumes
- Robust digital banking tools for convenient account management
- Integrations with popular accounting software for streamlined bookkeeping
- No physical branch limitations, catering to businesses nationwide
Cons:
- No physical branch locations for in-person support
- Limited cash deposit options (must use third-party services)
- Fewer in-person support and resources compared to traditional banks
9. First Internet Bank – Free Business Interest Checking
In addition to their regular free business checking account, First Internet Bank also offers a Free Business Interest Checking account, which pays interest on your balance while providing fee-free banking.
Features:
- No monthly service fee
- Unlimited transactions
- Free online banking and bill pay
- Mobile check deposit
- Interest-bearing account (interest rates may vary)
- Integrated with popular accounting software (e.g., QuickBooks, Xero)
- Free debit card and ATM access
Pros:
- No monthly service fee or minimum balance requirement
- Unlimited free transactions
- Earn interest on your account balance
- Robust digital banking tools for convenient management
- Integrations with accounting software for streamlined bookkeeping
- No physical branch limitations
Cons:
- No physical branch locations for in-person support
- Limited cash deposit options (must use third-party services)
- Interest rates may be lower than some competitors
10. Huntington Bank – Unlimited Plus Business Checking
Huntington Bank’s Unlimited Plus Business Checking account is an excellent choice for small businesses with higher transaction volumes seeking a fee-free account with wide branch access.
Features:
- No monthly service fee
- Unlimited transactions
- Free online banking and bill pay
- Mobile check deposit
- Access to Huntington’s branch and ATM network
- 24/7 customer service
Pros:
- No monthly service fee or minimum balance requirement
- Unlimited free transactions for businesses with high volumes
- Extensive branch and ATM network across 8 states
- Dedicated small business support and resources
- Robust online and mobile banking tools
Cons:
- Minimum opening deposit of $100
- Fees for certain transactions (e.g., wire transfers, stop payments)
- Limited availability outside core 8-state footprint
11. Azlo – Free Business Checking
Azlo is a digital banking platform offering a free business checking account tailored for small businesses and entrepreneurs seeking a user-friendly, fee-free experience.
Features:
- No monthly service fee
- Unlimited transactions
- Free online banking and bill pay
- Integrations with popular accounting software
- Automated expense tracking and categorization
- Virtual debit card and mobile wallet support
Pros:
- No monthly fees or minimum balances
- Unlimited free transactions
- Seamless accounting integrations for bookkeeping
- Automated expense tracking for easier management
- User-friendly mobile app and digital experience
Cons:
- No physical branch locations
- Limited cash deposit options
- Fewer in-person support resources than traditional banks
12. First Republic Bank – Free Business Checking
First Republic Bank’s Free Business Checking account is a premium option for small businesses seeking personalized service and a fee-free banking experience with extensive branch access.
Features:
- No monthly service fee
- Unlimited transactions
- Free online banking and bill pay
- Mobile check deposit
- Dedicated relationship manager
- Access to First Republic’s branch network
Pros:
- No monthly fees or minimum balances
- Unlimited free transactions
- Personalized service with a dedicated relationship manager
- Extensive branch network for in-person support
- Robust online and mobile banking capabilities
Cons:
- Limited availability (primarily in major metropolitan areas)
- Fees for certain transactions like wire transfers
- Higher balance requirements for interest-bearing accounts
13. Bluevine – Free Business Checking
Bluevine is a fintech company offering a free business checking account designed for small businesses and entrepreneurs seeking a modern, digital banking solution.
Features:
- No monthly service fee
- Unlimited transactions
- Free online banking and bill pay
- Integrations with popular accounting software
- Virtual debit cards and mobile wallet support
- 1.5% interest on balances up to $100,000
Pros:
- No monthly fees or minimum balances
- Unlimited free transactions
- Earns competitive interest on account balances
- Seamless accounting software integrations
- User-friendly digital banking experience
Cons:
- No physical branch locations
- Limited cash deposit options
- Fewer in-person support resources
14. Grasshopper Bank – Free Business Checking
Grasshopper Bank is a digital banking platform offering a free business checking account tailored for small businesses and entrepreneurs seeking fee-free banking with robust tools.
Features:
- No monthly service fee
- Unlimited transactions
- Free online banking and bill pay
- Mobile check deposit
- Integrated with accounting/invoicing software
- Virtual debit cards and mobile wallet support
Pros:
- No monthly fees or minimum balances
- Unlimited free transactions
- Integration with accounting and invoicing tools
- User-friendly digital banking experience
- No physical branch limitations
Cons:
- No physical branch locations
- Limited cash deposit options
- Fewer in-person support resources
15. Lili – Free Business Checking
Lili is a fintech company offering a free business checking account designed specifically for freelancers, gig workers, and small business owners.
Features:
- No monthly service fee
- Unlimited transactions
- Free online banking and mobile app
- Automatic expense tracking and tax tools
- Virtual debit cards and mobile wallet support
- Insights and financial management tools
Pros:
- No monthly fees or minimum balances
- Unlimited free transactions
- Tailored for freelancers/gig workers with tax tools
- Automated expense categorization and tracking
- User-friendly mobile experience
Cons:
- No physical branch locations
- Limited cash deposit options
- Fewer in-person support resources than traditional banks
Here are FAQs about free business checking accounts
How do free business checking accounts handle cash deposits?
Many online-only free business checking accounts have limited options for cash deposits since they don’t have physical branch locations. Common solutions include using third-party services like GreenDot or depositing cash via ATMs of partner banks. Some accounts may not support cash deposits at all, so this is an important consideration for cash-heavy businesses.
What accounting software integrations are commonly offered?
Popular accounting software integrations for free business checking accounts include QuickBooks, Xero, FreshBooks, and Wave. These integrations allow you to automatically sync transactions, categorize expenses, send invoices, and streamline bookkeeping processes.
Are there any free business checking accounts that earn interest?
While most free business checking accounts don’t earn interest, there are a few that do, like First Internet Bank’s Free Business Interest Checking account. Earning interest can be a nice perk, but the interest rates are typically lower than a dedicated business savings or money market account.
How do virtual debit cards and mobile wallets work with these accounts?
Several modern free business checking account providers, like Novo, Lili, and Bluevine, offer virtual debit cards and mobile wallet integration. This enables secure, contactless payments directly from your account via digital wallets like Apple Pay or Google Pay without needing a physical card.
What kinds of automated expense tracking features are available?
Some free business checking accounts offer automated expense tracking capabilities that use machine learning to automatically categorize and tag transactions based on vendor, amount, and expense type. This saves time on bookkeeping and provides valuable spending insights.
Are there any free business checking accounts tailored for freelancers/gig workers?
Yes, providers like Lili have designed their free business checking specifically with freelancers and gig economy workers in mind, offering features like automated tax withholding tools, invoicing capabilities, and spending insights tailored to variable income streams.
Do any free business checking accounts have physical branch locations?
While most online-only accounts don’t have branches, some providers like Chase, Bank of America, Wells Fargo, and Huntington Bank do offer free business checking paired with nationwide branch and ATM networks for customers who need in-person service.
How easy is it to switch business checking accounts?
The process of switching business checking accounts can vary, but most providers aim to make it seamless. This may involve assistance with closing old accounts, direct deposit switching, automatic payment rerouting, and other transition support.
What kinds of security features are included with free business checking?
Free business checking accounts generally include standard security features like encryption, multi-factor authentication, card controls, account alerts, and fraud monitoring. Some may also offer advanced security options like biometric logins or real-time transaction monitoring.
Are there any free business checking accounts designed for specific industries?
While most free business checking accounts are marketed towards general small businesses, some providers may have tailored account options or features for particular industries like retail, food service, contracting, or ecommerce down the line.