Best Banks for Small Business Accounts: A Guide for Entrepreneurs

1. Chase Business Complete Banking℠

Why It Stands Out:
Chase offers one of the most well-rounded business checking accounts. With over 4,700 branches nationwide, it’s a great option if you want access to in-person banking.

Key Features:

$15 monthly fee (can be waived)
100 free transactions per month
Integrated with QuickBooks and other software
Strong mobile and online banking tools

Best For: Brick-and-mortar businesses, and those that need both online and in-person banking.

2. Bank of America Business Advantage Checking

Why It Stands Out:
Bank of America is ideal for businesses that want a solid combination of digital tools and local branch access. Their rewards programs are especially useful for long-term relationships.

Key Features:

Two account options depending on your business size
Monthly fee waived with minimum balance
Cash flow monitoring tools
Access to small business specialists

Best For: Businesses with regular cash flow that want relationship rewards and support.

3. Bluevine Business Checking

Why It Stands Out:
Bluevine is an online-only bank that offers no monthly fees and a high interest rate on balances—something rare in the business banking world.

Key Features:

No monthly fees or minimum deposits
Earn up to 2.0% APY on balances up to $250,000
Free ATM access through MoneyPass network
Easy online interface and customer support

Best For: Freelancers, online businesses, and startups looking for a low-cost option.

4. Wells Fargo Initiate Business Checking℠

Why It Stands Out:
Wells Fargo has the largest physical presence in the U.S., making it a good choice for businesses that still rely on physical banking and regular deposits.

Key Features:

$10 monthly fee (waivable)
100 free transactions per month
Up to $5,000 in cash deposits per month without fees
Easy upgrade path as your business grows

Best For: Traditional small businesses with in-person banking needs.

5. Novo Business Checking

Why It Stands Out:
Novo is a fintech bank designed for the modern entrepreneur. It’s app-based, easy to use, and perfect for e-commerce businesses or freelancers.

Key Features:

No monthly fees or minimum balance
Integrates with Stripe, Shopify, Slack, and more
Refunds all ATM fees
Fast account setup and responsive support

Best For: Digital-first businesses, freelancers, and startups who value tech integration.

6. Axos Bank Basic Business Checking

Why It Stands Out:
Axos Bank is one of the oldest digital banks, offering strong features with no fees. It’s a good alternative for small businesses wanting a purely online experience.

Key Features:

No monthly maintenance fee
Free incoming wires and bill pay
24/7 online access and support
First set of checks is free

Best For: Tech-savvy business owners who want a fee-free experience without a physical branch.

What to Consider When Choosing a Business Bank Account

Before opening a business account, consider these factors:

Monthly fees and how to avoid them
Transaction limits and fees for overages
Cash deposit needs
ATM access and location convenience
Online banking features and app usability
Loan and credit products available for future growth

Final Thoughts

Choosing the right business bank account can save you time, money, and headaches. Whether you prefer a traditional bank with physical branches or a modern fintech solution, there’s a perfect fit out there for every small business. Analyze your needs, compare features, and go with a bank that supports your growth.