Having a business checking account is absolutely vital for anyone starting a business. Not only do you want to have the ability to take control of your own account, but having access to your records and finances are definitely essential parts into creating a successful business.
However, all business owners would know how quickly small fees associated with your current banking solution can add up. It can become quite a hassle spending countless hours researching trying to find the best business checking solutions.
To relieve your stress, we have come up with a list of Best Free Checking Accounts that are currently on the market! Features associated with free business checking accounts are often designed to better both you business and personal finances. With that said, continue reading below for detailed information on which accounts to choose!
Best Free Business Checking Accounts
Chase Business Complete BankingSM
 • Earn up to $500 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities. • Multiple ways to waive the $15 Monthly Service Fee, including maintaining a minimum daily balance or purchases on your Chase Ink® Business credit card. • Full-service business banking. Convenient access to all your business banking services in one place -- lending, checking, credit card and payment solutions. • Your choice of payment types. Choose from a full range of options for accepting payments and making deposits that include Zelle®, Online Bill Pay, wire transfers and ACH payments. • Convenient access to payment processing. Process all major debit and credit cards with QuickAccept®. It's a built-in feature with your Business Complete Checking account. • Get support you can rely on. Get access to our customer support team, plus a wide array of solutions that carter to every stage of your business • Full-featured banking online and on-the-go. Manage your business' finances on your terms with the latest online and mobile banking technology. • Associate Debit and Employee Deposit Cards available upon request |
- Account Type: Chase Business Complete BankingSM
- Transactions Limit: 100 transactions per month without a fee, plus unlimited electronic deposits (excluding wires)
- Cash Deposit Limit: $5,000 monthly
The Chase Business Complete BankingSM is designed and catered towards growing businesses who are able to stay under the 100 monthly transactions limits as well as the $5,000 monthly cash deposit limit.
If you are able to stay with the requirements that comes with this account, you not only get access to arguably one of the best business accounts available, but you will have access to several branches and ATMs nationwide! In addition to the account, Chase understands the features business owners look for. That is why everything from Chase OnlineSM Banking and Chase Mobile® Banking to Chase Business Debit, Deposit and ATM cards are all available at the owner’s disposal!
There is no surprise as to why so many businesses across the nation trusts Chase as their main financial tool for bettering and taking charge of their business!
If you would like to know more about this promotion and how to qualify, then head on over to our Chase Business Checking Review!
Huntington Bank’s Business Checking 100
- Account Type: Business Checking 100
- Monthly Fee: None, however there is a $3.00 mailed statement service fee that can be waived when you choose free e-statements.
- Transaction Limit: Up to 100 monthly transactions
- Cash Deposit Limit: Up to $5,000 in cash or currency monthly in-branch or at an ATM at no charge.
If you are looking to start up your own business or in the midst of developing your small business, then Huntington Bank’s Business Checking 100 is the one for you. Formerly known as the Community Business Checking Account, this revamped account allows business owners access to simple banking tools such as a free 120-day trial of fraud tools as well as your normal banking features such as access to in branch locations and ATMs nationwide.
Although there are no monthly fees associated with the Business Checking 100, do note that there is a $3.00 statement service fee. For those starting a business but do not meet the transactions and cash deposit limits that comes with either the Unlimited or Unlimited Plus, then this account is the one for you!
This account is available for those in IN, KY, MI, OH, PA, WV, IL, & WI (Bank Locator).
If you would like to know more about this account and how to obtain your attractive bonus, head on over to our extensive Huntington Business 100 Checking Review!
Editor’s Note: For those who would like to earn a higher bonus, be sure to check out the Huntington Unlimited for a $400 Bonus. Likewise, the Huntington Unlimited Plus for an even higher $750 Bonus!
Axos Bank Basic Business
- No monthly maintenance fees
- Unlimited ATM fee reimbursements anywhere in the USA
- Deposit up to 60 items per month with Remote Deposit Anywhere
Axos Bank is offering their Basic Business Checking account to help all business owners. They cover all the basic features that everyone needs to have, while offering no monthly maintenance fees.
(Learn more at Axos Bank)
Axos Bank Business Interest Checking
- Account Type: Axos Bank Business Interest Checking
- Monthly Service Fee: $10, waived with a minimum $5,000 balance
- Availability: Online nationwide
- Bottom Line: Business Interest Checking accounts have a monthly limit of 100 free items.
Axos Bank is an internet-online bank that offers superior customer service and financial products through their Business Interest Checking Account. The Business Interests Checking Account offers features such as no minimum opening deposit to better your banking experience.
BlueVine Small Business Checking
Account Type: Business Checking Account- Monthly Fee: None
- Transaction Limit: None
- Cash Deposit Limit: None listed
BlueVine is best for those who are small business owners that prefers to do all of their banking online. There is no hidden fees: no monthly maintenance NSF, or incoming wire fees. This account has no minimum deposit and no balance requirement. Plus, you can earn a 1.0% interest on your funds.
(FDIC Insured)
Novo Online Business Banking
- Account Type: Online Business Account
- Monthly Fee: There are no monthly service fees
- Transaction Limit: No limit.
- Cash Deposit Limit: None listed
Novo is an innovative new banking platform that can help bring small business into the modern age with their assortment of digital features. In addition to their online services, it’s easy to switch over with no minimum balances.
They also offer a business debit card, so you can conduct all your transactions with ease.
(FDIC Insured)
Citizens Bank Clearly Better Checking
- Account Type: Clearly Better Checking Account
- Monthly Fee: None
- Transaction Limit: Up to 200 check transactions per statement period at no charge, 50¢ per additional.
- Cash Deposit Limit: Any amount to open an account
The Clearly Better Checking Account offers a rather impressive range of features such as no minimum account balance, no minimum opening deposit as well as 200 free transactions per month. This account allows small business owners to take charge of their businesses without having to worry about meeting the transaction or cash deposit limits.
However, do note that this account is only available to business owners in NY and NJ (Bank Locator).
U.S. Bank Business Checking
- Account Type: Silver, Gold or Platinum Checking
- Monthly Fee: $0-$25, when waiver options are met.
- Transaction Limit: 150 free combined transactions per month.
- Cash Deposit Limit: 25 free cash deposit units per month
U.S. Bank’s Silver, Gold or Platinum Checking offers business owners to take advantage of their finances while giving you the option to choose a package that is better suited for your business needs. Similar to other large financial institutions such as Huntington Bank or BBVA Compass, you are able to select an account that will meet your transaction and cash deposit limit needs.
For those opting with Gold or Platinum, all you would have to do is meet the waiver requirements to avoid the monthly fees! Best of all, U.S. Bank is available to business owners across the nation (Branch Locator).
IBERIA Free Business Checking
- Account Type: Free Business Checking
- Monthly Fee: None
- Transaction Limit: Up to 500 transaction items per statement cycle
- Cash Deposit Limit: $10,000 per statement cycle
Designed with small businesses in mind, IBERIA bank’s free business checking account offers business owners everything you would need for daily money management. Additionally, the account will come with a wide range of services, waivers and discounts to better your business for the future! You will also be able to enjoy no minimum balance or monthly service charge.
In addition to the business account, owners can also enjoy up to two free personal checking accounts. If one day you outgrow your account, there are four other accounts for you to take advantage of as well!
Citibank CitiBusiness® Streamlined Checking Account
- Account Type: CitiBusiness® Streamlined Checking Account
- Monthly Fee: $15 waived with minimum average monthly balance of $5,000.
- Transaction Limit: 250 monthly transactions
- Cash Deposit Limit: vary depending on state
CitiBusiness® Streamlined Checking Account allows business owners of smaller businesses and firms to process up to 250 free transactions per month with a fee for additional transactions billed at $0.30 each. In addition to the account, you will have access to features such as no withdrawal fees at Citibank ATMs as well as being FDIC insured (up to $250,000 per depositor)
This account is available for those in CA, CT, D.C., FL, IL, MD, NJ, NV, NY, VA (Bank Locator).
Capital One Spark Business Basic Checking
- Account Type: Spark Business Basic Checking
- Monthly Fee: $15 monthly fee waived with $2,000 minimum 30- or 90-day average balance
- Transaction Limit: Unlimited business transactions
- Cash Deposit Limit: Deposit up to $5,000 in cash each month with no fee; $1 for every $1,000 deposited after that
Capital One Business accounts are great for business owners who process a high volume of transactions while handling a larger cash flow. Similar to Huntington Bank‘s Unlimited and Unlimited Plus, business owners can take advantage of unlimited monthly transactions as well as your everyday features such as online and mobile banking as well as mobile deposits and bill pay.
Best of all, Capital One is available to business owners across the nation! (Branch Locator)
Capital One currently offers a wide range of promotions on accounts.
Wells Fargo Business Choice Checking
Account Type: Business Choice Checking- Monthly Fee: $14, but waivable
- Transaction Limit: 200 monthly
- Cash Deposit Limit: $7,500 monthly
The Wells Fargo Business Choice Checking account has the everyday checking service a business owner needs to run their establishment. Earn access to special offers and discounts available specifically for Business Choice Checking customers.
Not only that, you also get the first 200 transactions per fee period at no charge as well has the first $7,500 in cash deposit processed at no extra charge.
Although the Wells Fargo Business Choice account is not technically free since it has a $14 monthly fee, but you can easily waive the fee by:
- Making 10 debit card purchases a month
- Maintaining a $7,500 balance in your Business Choice Checking account
- Maintaining a combined balance of $10,000 across multiple Wells Fargo accounts
- Signing up for select Wells Fargo business services
Wells Fargo Initiate Business Checking
- Account Type: Initiate Business Checking
- Monthly Fee: $10, but waivable
- Transaction Limit: 100 monthly, After 100, it’s $0.50 per transaction.
- Cash Deposit Limit: $5,0000 monthly, After $5,000, it’s $.30 per $100 deposited.
The Wells Fargo Initiated Business Checking account offers all the basic features all business owners need. Additionally, get anytime access with online and mobile banking
Not only that, you also get the first 1– transactions per fee period at no charge as well has the first $5,000 in cash deposit processed at no extra charge.
Although the Wells Fargo Business Choice account is not technically free since it has a $14 monthly fee, but you can easily waive the fee by:
- Maintaining a $500 minimum daily balance, OR
- Maintaining a $1,000 average ledger balance during the fee period.
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Conclusion
Free small business checking accounts are definitely the ideal choice for small and growing businesses. When establishing a business, avoiding unwanted fees and having an account with the perfect amount of transaction and deposit limits are definitely things you would want to consider when opening a new business checking account. While it is nice to have an account with no monthly fees and basic convenient features, don’t let that be the only determining factor when it comes to your business.
If your business or firm currently outgrows the needs of free basic account features, then definitely check out other great current account promotions such as Investors Bank or even PNC Bank! Large financial institutions such as Wells Fargo Bank, Santander Bank and Bank of America also offers great selections for you to choose from.
For those looking to open a new personal checking account in connection to your business account, definitely check out our list of Bank Bonuses for all your banking needs. Additionally, you can also check out our Referral Bonuses, Bank Rates as well as our CD Rates!
