Best Online Business Bank Accounts for Entrepreneurs and Startups
Learn more on which banks offer business-friendly bank accounts.
Our Top Picks of the Best Business Bank Accounts
We pick top 2 companies among the top online business bank accounts after a thorough research and rated them based on their ratings and reviews on different rating platforms.
| Company | Feature | Our Rating out of 5 |
|---|---|---|
|
Lili |
Freelancer Focused |
4.6 |
|
Novo |
Fee Free |
4.6 |
Top 5 Online Business Bank Accounts
Lili
Overall Rating: 4.6
4.3
4.7
4.7
Pros
- Free account.
- Mobile app.
- Expense tracking tools
- Targeted towards freelancers and solopreneurs.
Cons
- No physical branches.
- Limited customer support options.
- Limited features compared to traditional accounts.
- Monthly fee: Free.
- Starting fee: None.
- Transfer limit: $25,000 per transaction, $100,000 daily.
- Business Type: Freelancers and solopreneurs are eligible.
- Location: Must be a US resident with a US-based bank account.
- Identification: Valid government-issued ID and Social Security Number required.
- Minimum Deposit: None required.
- Additional Information: Lili may request additional information about your freelance work and income during the application process.
Novo
Overall Rating: 4.6
4.6
4.5
4.8
Pros
- Free account.
- No minimum balance.
- Mobile app.
- Integrates with popular accounting software.
Cons
- No physical branches.
- Limited customer support options.
Ideal for freelancers and solopreneurs with simple banking needs.
- Monthly fee: Free.
- Starting fee: None.
- Transfer limit: $25,000 per transaction, $100,000 daily.
- Business Type: Freelancers, sole proprietors, and small businesses are eligible.
- Location: Must be a US resident with a US-based business or freelance operation.
- Identification: Valid government-issued ID and Social Security Number required.
- Minimum Deposit: $50 initial deposit required.
- Additional Information: Novo may request additional information (e.g., nature of business, estimated monthly transactions) during the application process.
Bluevine Business Checking
Overall Rating: 4.6
4.7
4.3
4.7
Pros
- Interest-bearing account.
- High transaction limits.
- Mobile app.
- Integrates with accounting software.
Cons
- $25 monthly fee (waived with $3,000 minimum balance or $5,000 in monthly deposits)
- ATM fees apply.
Good for businesses with higher transaction volume seeking interest on their balance.
- Monthly fee: $25 (waived with conditions).
- Starting fee: None.
- Transfer limit: $250,000 per transaction, $1 million daily.
- Business Type: Limited Liability Companies (LLCs), Corporations, and Non-Profits are eligible.
- Location: Must be a US resident with a US-based business address.
- Identification: Valid government-issued ID and Social Security Number required.
- Minimum Deposit: None required.
- Additional Information: Bluevine may request additional information (e.g., business documents, financial statements) during the application process.
Mercury
Overall Rating: 4.3
4.1
3.8
4.9
Pros
- No monthly fees.
- High transaction limits.
- Mobile app.
- Integrations with popular business tools.
Cons
- Limited customer support options.
- Requires incorporation or LLC formation.
Good for established businesses with high transaction volume needing a feature-rich platform.
- Monthly fee: None.
- Starting fee: None.
- Transfer limit: $250,000 per transaction, $1 million daily.
- Business Type: Limited Liability Companies (LLCs) and Corporations are eligible.
- Location: Must be a US resident with a US-based business address.
- Identification: Valid government-issued ID and Social Security Number required.
- Minimum Deposit: None required.
- Additional Information: Mercury requires businesses to be incorporated or have an LLC formation in progress. They may also request documentation of business activities and funding sources.
Brex Cash
Overall Rating: 4.2
4.8
3.0
4.9
Pros
- Free account.
- High transaction limits.
- Virtual debit card.
- International transactions with no fees.
Cons
- Not technically a bank account.
- Limited features compared to traditional accounts.
Good for startups and international businesses needing high transaction limits and fee-free international transactions.
- Monthly fee: Free.
- Starting fee: None.
- Transfer limit: $250,000 per transaction.
- Business Type: Startups and established businesses of all sizes are eligible.
- Location: Must be a US resident with a US-based business address.
- Identification: Valid government-issued ID and Social Security Number required.
- Minimum Deposit: None required.
- Additional Information: Brex has stricter eligibility requirements and may request financial statements, tax returns, and business plans during the application process. They also require a minimum of $1 million in a US bank account (or $50,000 with professional investors) and a positive Experian credit check.
WHAT YOU GET
Business Checking Accounts that Includes
Online
Banking
Small business banking online tools.
Self-service
Banking
Process business deposits with a smartphone.
Minimum Opening Deposit
Lower starting deposit to open a business checking account.
Better
Fees
Offer low to no fees.
Outstanding Customer Support
Easy access to business banking support.
Business Bank Accounts
Partnering with the right business bank is essential for small business owners. Learn which banks offer the best business checking accounts, have low or no fees, ATM accessibility, interest-earning accounts and online or mobile banking tools.
Factors to Consider When Choosing Business Checking Accounts
Monthly Fees
The fee the bank charges to maintain your account. The best business checking accounts have low or no monthly fees. Some banks charge a monthly fee but offer ways that you can qualify to waive them. In this case, make sure you can meet those qualifications continually to avoid incurring costs later.
Transaction Limits
Banks often limit the number of transactions a business can make with its account, including electronic transactions and checks. If you exceed the allotted number of monthly transactions, you typically face a small fee for each transaction you make. You may want to choose an account that can accommodate your average transaction volume.
ATM Access
Where can you use your business debit card? Are there fees associated with using your card out of the bank’s ATM network? Does the business checking account offer any ATM fee reimbursements? Does your ATM access include both cash withdrawals and deposits? These are all relevant questions to consider.
Interest
Some business checking accounts offer interest. With interest-earning accounts, make sure you can meet any minimum balance requirements and that fees don’t cancel out the earning potential. Conversely, if you’re looking to save on a longer-term basis and don’t need daily access to your funds, you might consider a business savings account as the best option for earning interest.
Do you know how to write a check?
Understand what is included in a check and how to write a check with our guide.
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