Business Checking Account Promotions
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View list of the current top business checking deals and promotions. Earn cash bonuses for opening a new account.
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| Bank Promotion Link | Offer | Review |
|---|---|---|
| Chase Business Complete Banking℠ | $300 Bonus | Review |
| Huntington Unlimited Plus Business Checking | $750 Bonus | Review |
| Huntington Unlimited Business Checking | $400 Bonus | Review |
| Huntington Business Checking 100 | $100 Bonus | Review |
Chase Business Complete Banking℠ - $300 Bonus
- Earn $300 when you open a new Chase Business Complete Checking account. For new Chase business checking customers with qualifying activities.
- Multiple ways to waive the Monthly Service Fee, including maintaining a minimum daily balance or purchases on your Chase Ink® Business credit card.
- Built-in card acceptance. Accept card payments anytime, anywhere in the U.S., and get transparent pricing with Chase QuickAccept℠
- Same-day deposits with QuickAccept℠. Free up the cash you need to keep your business moving forward with same-day deposits at no additional cost.
- Alerts to help you stay on top of your account activity.
- Easy account management through Chase Business Online and the Chase Mobile® app.
- Unlimited electronic deposits, ACH and Chase QuickDeposit℠.
- Convenient access to more than 16,000 ATMs and more than 4,700 branches.
- Minimum Deposit to Open: None
- Direct Deposit Required: No
- Minimum Deposit Required: $2,000 within 30 business days
Basic Business Checking
- New business owners get a $200 welcome bonus!
- Zero monthly maintenance fees
- Unlimited Transactions
- Unlimited domestic ATM fee reimbursements
- $0 Minimum Opening Deposit requirement
- 2 Free Domestic Wires, monthly
- Cash Deposit capability via MoneyPass and AllPoint networks
- Direct Deposit Required: No
- Minimum Deposit Required: 0
Business Interest Checking - 1.01% APY
- New business owners get a $200 welcome bonus!
- Earn up to 1.01% APY*
- $100 minimum opening deposit
- Pay no monthly maintenance fee with an average daily balance of at least $5,000
- Unlimited domestic ATM fee reimbursements
- Up to 100 free items per month, $0.50 per item thereafter (includes debits, credit, and deposited items)
- Up to 60 items per month for Remote Deposit Anywhere (includes monthly per item processing limitation)
- Minimum Deposit to Open: $100
Silver Business Checking Package - $300 Bonus
- Enroll in online banking or U.S. Bank Mobile App within 60 days of account opening.
- Complete $3,000 in new money deposits within 30 days of account opening and maintain for 60 days.
- Make five qualifying transactions into your new business checking account. Qualifying transactions include: Debit card purchases, Merchant deposits, ACH credits, Wires credits/debits, Mobile Check Deposit or Bill Pay.
- Minimum Deposit to Open: $100
Gold Business Checking Package - $300 Bonus
- Enroll in online banking or U.S. Bank Mobile App within 60 days of account opening.
- Complete $3,000 in new money deposits within 30 days of account opening and maintain for 60 days.
- Make five qualifying transactions into your new business checking account. Qualifying transactions include: Debit card purchases, Merchant deposits, ACH credits, Wires credits/debits, Mobile Check Deposit or Bill Pay.
- Minimum Deposit to Open: $100
Platinum Business Checking Package - $300 Bonus
- Enroll in online banking or U.S. Bank Mobile App within 60 days of account opening.
- Complete $3,000 in new money deposits within 30 days of account opening and maintain for 60 days.
- Make five qualifying transactions into your new business checking account. Qualifying transactions include: Debit card purchases, Merchant deposits, ACH credits, Wires credits/debits, Mobile Check Deposit or Bill Pay.
- Minimum Deposit to Open: $100
Unlimited Plus Business Checking - $750 Bonus
To be eligible for the $750 cash bonus, business customer must open a new Huntington Unlimited Plus Business, Business Analyzed or Business Non Profit Analyzed Checking by November 7, 2022, then make a minimum cumulative new money deposit into the new checking account of at least $20,000 within 60 days of account opening.
"New money" is defined as money that is not currently on deposit in any Huntington account (except maturing business CDs). Account must maintain an open status for at least 90 days before it is eligible for the bonus payment. All new accounts subject to account opening approval and account conversions are not eligible. An Early Account Closing Fee will apply to accounts closed within 180 days of opening.
- Minimum Deposit to Open: None
- Direct Deposit Required: No
- Minimum Deposit Required: Make cumulative new money deposits of at least $20,000 within 60 days of account opening and keep your account open for a minimum of 90 days
Unlimited Business Checking - $400 Bonus
To be eligible for the $400 cash bonus, business customer must open a new Huntington Unlimited Business, Unlimited Plus Business, Business Analyzed, Business Non Profit Analyzed, or Business Non Profit Interest Checking account by November 7, 2022, then make a minimum cumulative new money deposit into the new checking account of at least $5,000 within 60 days of account opening.
"New money" is defined as money that is not currently on deposit in any Huntington account (except maturing business CDs). Account must maintain an open status for at least 90 days before it is eligible for the bonus payment. All new accounts subject to account opening approval and account conversions are not eligible. An Early Account Closing Fee will apply to accounts closed within 180 days of opening.
- Minimum Deposit to Open: None
- Direct Deposit Required: No
- Minimum Deposit Required: Make cumulative new money deposits of at least $5,000 within 60 days of account opening and keep your account open for a minimum of 90 days
Business Checking 100 - $100 Bonus
To be eligible for the $100 cash bonus, business customer must open a new Huntington Business Checking 100, Unlimited Business, Unlimited Plus Business, Business Analyzed, Business Non Profit Analyzed, or Business Non Profit Interest Checking account by November 7, 2022 then make a minimum cumulative new money deposit into the new checking account of at least $2,000 within 60 days of account opening.
"New money" is defined as money that is not currently on deposit in any Huntington account (except maturing business CDs). Account must maintain an open status for at least 90 days before it is eligible for the bonus payment. All new accounts subject to account opening approval and account conversions are not eligible. An Early Account Closing Fee will apply to accounts closed within 180 days of opening.
- Minimum Deposit to Open: None
- Direct Deposit Required: No
- Minimum Deposit Required: Make cumulative new money deposits of at least $2,000 within 60 days of account opening and keep your account open for a minimum of 90 days
Business Checking - Up to 1.5% APY
- 1.5% APY on your balance up to $100,000 for customers that meet monthly eligibility requirements
- $0 minimum opening deposit
- $0 monthly service fee
- Minimum Deposit to Open: $0
Open a Free Business Checking Account
- 1.5% APY on your balance up to $100,000 for customers that meet monthly eligibility requirements
- $0 minimum opening deposit
- $0 monthly service fee
- Minimum Deposit to Open: $0
Free Checking Account for Sole Proprietors and Single-Member LLC
- $0 monthly service fees
- $0 minimum opening deposit
- No minimum balance requirement
- No foreign exchange fee
- Get direct deposits up to 2 days earlier
- Minimum Deposit to Open: $0
Free Business Checking
- $0 monthly service fee
- $50 deposit to unlock all features
- Unlimited ATM fee rebates
- Minimum Deposit to Open: $50
No-Fee Business Checking
- $0 monthly service fee
- $0 minimum opening deposit
- Open up to 20 individual business checking accounts
- Issue up to 50 Mastercard® debit cards to your team
- Minimum Deposit to Open: $0
Lili Pro Business Checking
- $4.99 monthly service fee
- Emergency savings account with 1% APY
- Create and send unlimited invoices
- Up to $200 fee-free overdraft
- Cashback with selected merchants
- Minimum Deposit to Open: $0
NorthOne Business Banking
- Unlimited envelopes for all your business budgets
- Integrations with popular accounting and payment processing apps
- Free invoice maker
- $50 minimum opening deposit
- $10 monthly fee
- Minimum Deposit to Open: $50
Small business owners—take notice. Many banks are offering incentives and cash bonuses for opening new business checking accounts.
A business checking account is important to keep your funds separate from your personal banking. It helps organize your accounting and will save you a lot of headache during tax time. LLCs, corporations, and DBAs are required to have a separate business bank account.
- Taxpayer Identification Number (SSN or EIN)
- Current business license
- DBA name registration (for sole proprietors, if applicable)
- Partnership agreement (for partnerships)
- Articles of Organization (for LLCs)
- Articles of Incorporation (for corporations)
Get more from your business checking account.With Chase Business Complete Banking, your checking account comes with built-in card acceptance. Click on your state to get your business going.
Checking Account Promotions for August 2022
Citibank Business Checking - Up to $2,000 Bonus
Earn up to $2,000 cash bonus with required activities. Open a new CitiBusiness (Analyzed), Streamlined, or Flexible Checking account. Within 30 calendar days following account opening, make one or more deposits in new-to-Citibank funds to meet the Qualifying Balance. Maintain the required Qualifying Balance for 60 consecutive calendar days after the Qualifying Balance level is met during the initial 30 calendar day funding period.
| Qualifying Balance | Bonus |
|---|---|
| $5,000 | $200 |
| $15,000 | $500 |
| $25,000 | $700 |
| $50,000 | $1,000 |
| $100,000 | $1,500 |
| $200,000 | $2,000 |
1st United Credit Union: Business Checking Account - $200 Bonus
Open a new qualifying business checking account. Use promo code SMALLBIZ at account opening.
Truist Bank: Business Checking Account - $200 Bonus
Open a new Simple Business Checking or Dynamic Business Checking account. Use promo code SB22NEW2BIZ4 at account opening. Make cumulative qualifying deposits of $1,500 or more into your new account. Enroll and sign in to Truist Online Banking for Business.
PNC Bank: Business Checking Account - $200 Bonus
Open a new PNC Business Checking or PNC Business Checking Plus account. Maintain an average cycle balance of $5,000 in your new checking account for each of the first three statement cycles. Make at least 20 qualifying PNC Bank Visa Debit card transactions within the first three statement cycles.
This offer is only available to businesses with an annual revenue of less than $5 million. All existing business checking customers, including those who have closed an account in the past 90 days or has been paid a promotional premium in the past 12 months are not eligible for this offer. $200 bonus will be credited to your new business checking account within 90 days after all conditions have been met.
- Direct Deposit Required: No
- Minimum Deposit Required: $5,000 within 30 days
PNC Bank: Business Checking Account - $500 Bonus
Open a new PNC Treasury Enterprise Plan or Analysis Business Checking account. Maintain an average cycle balance of $30,000 in your new checking account for each of the first three statement cycles.
This offer is only available to businesses with an annual revenue of less than $5 million. All existing business checking customers, including those who have closed an account in the past 90 days or has been paid a promotional premium in the past 12 months are not eligible for this offer. $500 bonus will be credited to your new business checking account within 90 days after all conditions have been met.
- Direct Deposit Required: No
- Minimum Deposit Required: $30,000 within 30 days
M&T Bank: M&T Tailored Business Checking Account - $300 Bonus
Open a new M&T Tailored Business checking account. Receive $300 if the Average Ledger Balance in the account is at least $5,000 for the third full calendar month after the account was opened. Bonus will be credited to your account within 45 days after the end of the third full calendar month after the account was opened.
M&T Bank: M&T Tailored Business Checking Account - Up to $600 Bonus
Open a new M&T Tailored Business Checking account. Receive $300 if the Average Ledger Balance in the account is at least $5,000 for the third full calendar month after the account was opened. Bonus will be credited to your account within 45 days after the end of the third full calendar month after the account was opened. Receive an additional $300 when you open a new M&T Merchant Services account, link your M&T Business Checking account, and process $20 in merchant transactions within a calendar month no later than 12/31/20200. Use promo code Letter300, Email300 or Online300 at account opening.
American Airlines Credit Union: Business Checking Account - $25 Bonus
Open a new American Airlines Federal Credit Union Business Checking account. Make at least $25 in qualifying debit card purchases within 60 days of account opening. Bonus will be credited within 60 days after final qualifying transaction.
S&T Bank: Business Checking Account - $300 Bonus
Get $300 when you open a new Basic Business Checking account. Fund account with $1,000 or more within 5 business days of account opening. Business checking account must have a daily balance of $1,000 or more on November 7, 2022. Apply and activate an S&T Bank business debit card.
Seacoast Bank: Business Checking Account - $600 Bonus
Open a new qualifying business checking account. Deposit $10,000 or more in money into the account within 15 days of account opening. Maintain a balance of $10,000 or more for 90 days after account opening. Complete 15 qualifying debit card purchases within 90 days of account opening.
S&T Bank: Business Checking Account - Up to $600 Bonus
Get $300 when you open a new Basic Business Checking account. Fund account with $1,000 or more within 5 business days of account opening. Business checking account must have a daily balance of $1,000 or more on November 7, 2022. Apply and activate an S&T Bank business debit card. Get an additional $300 when you open a new S&T payment processing account through Elavon. S&T payment processing account must remain open through November 7, 2022 to receive bonus.
Truist Bank: Business Checking Account - $200 Bonus
Open a new Simple Business Checking or Dynamic Business Checking account. Use promo code SB22NEW2BIZ3 at account opening. Make cumulative qualifying deposits of $1,500 or more into your new account. Enroll and sign in to Truist Online Banking for Business.
Flushing Bank: Business Checking Account - $1,000 Bonus
Open a new Complete Business Checking account. Minimum opening deposit of $15,000 is required to qualify for the Value Program gift card. Get a $1,000 gift card when your minimum 90-day average is $150,000 - $249,999.
Flushing Bank: Business Checking Account - $1,500 Bonus
Open a new Complete Business Checking account. Minimum opening deposit of $15,000 is required to qualify for the Value Program gift card. Get a $1,500 gift card when your minimum 90-day average is $250,000 or more.
Freedom Federal Credit Union: Business Checking Account - $100 Bonus
Open a new qualifying business checking account. Deposit $100 or more within 90 days of account opening. Business checking account must be opened along with a new Freedom Business Banking membership.
This offer is available only to members of Harford County Association of REALTORS (HCAR).
- Direct Deposit Required: No
- Minimum Deposit Required: $100 within 90 days
Advantis Credit Union: Business Checking Account - $100 Bonus
Open a new business savings account, business checking account, and one qualifying product (CD, money market, commercial loan). The account and qualifying products must be opened within 6 months after opening of the membership.
Offer is valid only to new Advantis Credit Union members (i.e. Individuals without an Advantis membership in the previous 6 months). Receive the bonus within 60 days after completing all requirements.
- Direct Deposit Required: No
BankPlus: Business Checking Account - $100 Bonus
Open a new BankPlus Business Checking account. Earn $25 when you use your BankPlus Business Visa for 2 debit card transactions in the same month as the month of account opening. Earn $75 when you use your BankPlus Business Visa for 8 debit card transactions in the second month of account opening.
BrightStar Credit Union: Business Checking Account - $100 Bonus
Open a new Business Checking Account. Enroll in e-Statements, and complete at least 4 transactions per month for 7 months. Account must remain active for the entire 7 months. New membership and new checking account must be established at the same time.
Community First Credit Union: Business Checking Account - $100 Bonus
Open a new Premier Business Checking account and earn $100 bonus. New members must open a share account with a minimum $5 initial deposit (share account is required for membership).
Technology Credit Union: Business Checking Account - $100 Bonus
Open a new Tech CU Business Basic Checking or Tech CU Business Interest Checking account. Set up merchant services through US Merchant Systems. Meet other security and and credit requirements to qualify.
Susquehanna Community Bank: Business Checking Account - $150 Bonus
Open a new Business Advantage checking account. Minimum opening deposit is $2,500. Keep account open and in good standing for at least 90 days to receive bonus.
Flushing Bank: Business Checking Account - $200 Bonus
Open a new Complete Business Checking or Complete Business Checking Plus account. Minimum opening deposit is $100. Within 60 days of account opening, complete 5 debit card purchases of at least $25 each, and make 5 online banking bill-payments of at least $25 each via Flushing Bank's Online Banking portal.
Flushing Bank: Business Checking Account - $200 Bonus
Open a new Complete Business Checking account. Minimum opening deposit of $15,000 is required to qualify for the Value Program gift card. Get a $200 gift card when your minimum 90-day average is $15,000 - $24,999.
Consumers Credit Union: Business Checking Account - $200 Bonus
Open a qualifying business checking account. Set up and receive a monthly ACH of $1,500 or more to qualify for bonus. Account must remain open and in good standing for at least 6 months and receive eStatements.
This offer is valid only for business accounts using comparable services offered by Consumers Credit Union.
- Direct Deposit Required: $1,500 or more monthly ACH
- Minimum Deposit Required: $1,500 or more monthly ACH
Community First Credit Union: Business Checking Account - $200 Bonus
Open a new Connections Business Checking account and earn $200 bonus. New members must open a share account with a minimum $5 initial deposit (share account is required for membership).
Waterstone Bank: Business Checking Account - $250 Bonus
Open a new Business Checking account. Use promo code SMBIZ at account opening. Keep account open and active for the entire statement cycle in order to qualify for the bonus.
Provident Credit Union: Business Checking Account - $300 Bonus
Open a Dividend Business Checking account. Use promo code 9982. Deposit $2,500 or more within 60 days of account opening. Make purchases of $400 or more per month for 2 months using a Provident Business debit and/or credit card. Enroll in online banking service and e-Documents. Business Savings account is required to open a Dividend Business Checking account.
North State Bank: Business Checking Account - $450 Bonus
Open a new Performance Business Checking account. Make 50 or more qualifying transactions in a statement cycle within 90-180 days of account opening. Qualifying transactions include debit card transactions (not including ATM transactions), ACH debits and credits, and deposits and payments made through Online Banking.
This offer is only available to customers who have received a previous account opening bonus related to a business checking account. Limit one business account opening bonus per physical address, and/or Federal Tax ID. Must be registered to do business in NC.
- Direct Deposit Required: No
- Minimum Deposit Required: $500 at account opening
North State Bank: Business Checking Account - $50 Bonus
Open a new Community Non-Profit Checking account. Make 20 or more qualifying transactions in a statement cycle within 90-180 days of account opening. Qualifying transactions include debit card transactions (not including ATM transactions), ACH debits and credits, and deposits and payments made through Online Banking.
This offer is only available to customers who have received a previous account opening bonus related to a business checking account. Limit one business account opening bonus per physical address, and/or Federal Tax ID. Must be registered to do business in NC.
- Direct Deposit Required: No
- Minimum Deposit Required: $100 at account opening
Community First Credit Union: Business Checking Account - $50 Bonus
Open a new Classic Business Checking account and earn $50 bonus. New members must open a share account with a minimum $5 initial deposit (share account is required for membership).
Susquehanna Community Bank: Business Checking Account - $50 Bonus
Open a new Business Freedom checking account. Minimum opening deposit is $100. Keep account open and in good standing for at least 90 days to receive bonus.
Flagstar Bank: Business Checking Account - $500 Bonus
Open a new qualifying business checking account with minimum opening deposit of $100. Have deposits of at least $5,000, and have at least 10 qualifying transactions within 90 days of account opening. Account must remain open for at least 90 days.
- Direct Deposit Required: No
- Minimum Deposit Required: $5,000 within 90 days
Flushing Bank: Business Checking Account - $600 Bonus
Open a new Complete Business Checking account. Minimum opening deposit of $15,000 is required to qualify for the Value Program gift card. Get a $600 gift card when your minimum 90-day average is $75,000-$149,999.
TBK Bank: Business Checking Account - Up to $150 Bonus
Open a new Business Checking account. Earn $75 when you open Merchant Services. Earn $25 when you complete at least 3 recurring automatic transfers from this account to a TBK Bank savings or money market account. Earn $25 when you get a business debit card and make at least one point-of-sale. Earn $25 when you open and fund an AIM or Everyday consumer checking account. All activities must be completed within 120 days from account opening.
TBK Bank: Business Checking Account - Up to $200 Bonus
Open a new Business Interest Checking account. Earn $100 when you open a Merchant Services. Earn $50 when you complete at least 3 recurring automatic transfers from this account to a TBK Bank savings or money market account. Earn $25 when you get a business debit card and make at least one point-of-sale. Earn $25 when you open and fund an AIM or Everyday consumer checking account. All activities must be completed within 120 days from account opening.
MIDFLORIDA Credit Union: Business Checking Account - Up to $500 Bonus
Earn $300 when you open a new Free Business Checking account. Enroll in online banking, eStatement, eNotice, and debit card. Make deposits totaling at least $5,000 in a calendar month for 2 of the first 6 months of account opening. Complete 5 qualifying transactions within 45 days of account opening. Earn an additional $200 when you open a Free Checking account, and have a cumulative of $500 in direct deposit which post within 45 days of account opening. Must also enroll in online banking, eStatement, eNotice, and debit card.
Business must establish $5 membership accounts, and must open a Business Savings account to qualify for bonus.
- Minimum Deposit Required: $5,000 in a calendar month for 2 of the first 6 months
Sterling National Bank: Business Checking Account - Up to $500 Bonus
Get up to $500 as a sign-on bonus earned in increments of $100 per statement cycle if Elite Level requirements are met for the statement cycle. Terms and conditions apply.
Atlantic Union Bank: Essential Business Checking
- $0 monthly fee
- No minimum balance requirement
- First 100 transaction items free per statement cycle
Old National Bank: Free Business
- $0 monthly fee
- No minimum balance requirement
- Up to 200 transactions per month at no cost
- Up to $15,000 in cash and currency deposited each month at no cost
Western State Bank: Free Business Checking
- $0 monthly fee
- No minimum balance requirement
- 500 free check transactions per month
Landmark Credit Union: Free Business Checking Plus Interest
- $0 monthly fee
- First 100 transactions are free each month
- No minimum balance required
Widget Financial: Preferred Business Checking
- $0 monthly fee
- No minimum amount to open
- 200 free check transactions per month
Level One Bank: Small Business Checking
- $0 monthly fee
- First 250 transactions at no cost
- Free Online Banking & Mobile Banking, and Online Bill Pay
BMO Harris Bank: Business Checking Account - $300 Bonus
Open a new BMO Digital Business Checking, BMO Simple Business Checking, BMO Premium Business Checking, or BMO Elite Business Checking account. Have at least 10 electronic transactions post to the account within 90 days of account opening. Reach a balance of at least $5,000 starting 31 days after account opening, and maintain it for the following 90 days.
BMO Harris Bank: Business Checking Account - $500 Bonus
Open a new BMO Digital Business Checking, BMO Simple Business Checking, BMO Premium Business Checking, or BMO Elite Business Checking account. Have at least 10 electronic transactions post to the account within 90 days of account opening. Reach a balance of at least $10,000 starting 31 days after account opening, and maintain it for the following 90 days.
Why Open a Business Checking Account?
A separate business banking account is required for LLCs, corporations, and DBAs. But even if you don't operate as one of these, here are some advantages of a business banking account:
- Easier Bookkeeping
It will get very hard during tax time if you mix your personal and business transactions. A separate business account will provide a very clear trail of your business activities for yourself and the IRS.[1] - Professionalism
Your customers can make checks out to your business instead of to you. You can also pay for business expenses with a business card or checks. And when it's tax time, you can make the tax payment out of your business account. - Purchase Power
A lot of bank business accounts will also give you access to their business credit cards. This gives you more purchasing power if you have startup costs or need to make a large purchase. - Banking Relationship
Having a relationship with a bank could help if you need extra business services. For example, if you need a loan to expand your business in the future, you could receive better rates.
East West Bank: Business Checking Account - Special Offers
Open a new Standard Business Checking account, and receive the following: no minimum balance requirement for the first 6 months, one complimentary order of standard checks, and no wire fee for the first 10 incoming wires received during the first 6 months of account opening.
US Bank: Silver Business Checking Account Package
- $0 monthly service fee
- 125 free transactions per statement cycle
- 25 free cash deposits per statement cycle
TD Bank: TB Business Convenience Checking Plus
- 500 free transactions each month
- $5,000 in cash deposits processed free each month
- Waive the $25 monthly service fee by maintaining a $1,500 combined minimum daily balance with one TD personal checking account
- Minimum Deposit to Open: $100
First Citizens Bank: Basic Business Checking
- $0 monthly fee
- $100 opening deposit
- 150 free transactions each month
- $5,000 in cash deposits processed free each month
- Minimum Deposit to Open: $100
Bank of America: Business Advantage Fundamentals Banking
- 200 free transactions per month
- $7,500 in cash deposits per month
- Waive the $16 monthly fee in a variety of ways
- Minimum Deposit to Open: $100
Bank of America: Business Advantage Relationship Banking
- 500 free transactions per month
- $20,000 in cash deposits per month
- Waive the $29.95 monthly fee by maintaining a $15,000 combined average monthly balance
- Minimum Deposit to Open: $100
Wells Fargo: Initiate Business Checking
- 100 free transactions each fee period
- $5,000 in cash deposits processed free each fee period
- $25 minimum opening deposit
- Waive the $10 monthly service fee by maintaining a $500 minimum daily balance or a $1,000 average ledger balance
- Minimum Deposit to Open: $25
Wells Fargo: Navigate Business Checking
- 250 free transactions each fee period
- $20,000 in cash deposits processed free each fee period
- $0 for stop payments and incoming wires
- $25 minimum opening deposit
- Waive the $25 monthly service fee by maintaining a $10,000 minimum daily balance or a $15,000 average ledger balance
- Minimum Deposit Required: $25
Wells Fargo: Optimize Business Checking
- Access to treasury management services
- 250 free transactions each fee period
- Includes up to 5 linked Optimize Business Checking accounts
- $25 minimum opening deposit
- $75 monthly service fee; Can be offset with earnings allowance
- Minimum Deposit Required: $25
Capital One: Basic Business Checking
- Unlimited free transactions each month
- $5,000 in free cash deposits each month
- Waive the $15 monthly service fee by maintaining a prior 30- or 90-day average balance of $2,000 or more
- Minimum Deposit to Open: $250
Citizens Bank: Clearly Better Business Checking
- $0 monthly fee
- No minimum balance requirement
- Up to 200 check transactions per statement period at no charge
Associated Bank: Business Foundation Checking
- $0 monthly fee
- No minimum balance requirement
- No fee for first 50 transactions
TIAA Bank: Small Business Checking
- $0 monthly fees
- $1,500 minimum to open
- ATM fee reimbursements
- Minimum Deposit to Open: $1,500
First National Bank of Omaha: Free Business Checking
- $0 monthly fee
- No minimum balance requirement
- 150 free transactions per month
First Internet Bank: Small Business Checking
- $0 monthly fee
- Earn 0.30% APY with an average daily balance of $10,000
- No minimum balance required
- No transaction fees
Union Bank: Bank Freely Business Checking
- $0 monthly fee
- Unlimited combined transactions at no cost
- First $10,000 of cash deposited each statement period at no cost
Mercury: Banking for Startups
- $0 minimum opening deposit
- $0 monthly service fee
- No overdraft fees
- Minimum Deposit to Open: $0
Comerica Bank: Basic Business Checking
- $0 monthly fee
- No activity fee for the first 75 transactions (debits, deposited items, and credits) per month
- No cash deposited fee for the first $2,500 deposited per month
A+ Federal Credit Union: Basic Business Checking
- $0 monthly fee
- No minimum balance requirement
- 200 free items each month
Axiom Bank: Basic Business Checking
- $0 monthly fee
- No minimum balance requirement
- 150 free items per month
CapEd Credit Union: Basic Business Checking
- $0 monthly fee
- No minimum opening deposit
- Up to 150 free debit and credit transactions each month
Truliant Federal Credit Union: Basic Business Checking
- $0 monthly fee
- No minimum balance required
- 150 free items per statement cycle
Cinfed Credit Union: Basic Business Checking
- $0 monthly fee
- No minimum balance required
- 50 free transactions per month
Clearview Federal Credit Union: Basic Business Checking
- $0 monthly fee
- No minimum balance required
- 300 free transactions per month
S&T Bank: Basic Business Checking
- $0 monthly fee
- No minimum balance requirement
- Up to 500 items processed per month
America First Credit Union: Basic Business Checking
- $0 monthly fee
- No minimum balance requirement
- 250 free items per month
Banner Bank: Basic Business Checking
- $0 monthly fee
- $50 minimum opening deposit
- 125 free transactions per statement cycle
Beacon Credit Union: Basic Business Checking
- $0 monthly fee
- First 50 checks deposited free
- Minimum balance requirement of $100.00
Cape Cod Five Cents Savings Bank: Basic Business Checking
- $0 monthly fee
- $25 minimum opening deposit
- Up to 100 free transactions each month
First Horizon Bank: BizEssentials Checking
- $0 monthly fee
- No fee on first 250 transactions each month
- No fee on first $5,000 deposited in coin and currency each month
Brex Cash Management Account
- $0 minimum opening deposit
- $0 monthly service fee
- No foreign transaction fees
- Minimum Deposit to Open: $0
All America Bank: Business 100 Checking
- $0 monthly fee
- No minimum balance requirement
- 100 free items per month
TruMark Financial Credit Union: Business Basic
- $0 monthly fee
- No minimum amount required to open
- First 100 transactions free
Altra Federal Credit Union: Business Basic Checking
- $0 monthly fee
- No minimum balance requirement
Macatawa Bank: Business Basic Checking
- $0 monthly fee
- 50 transactions per statement cycle at no charge
- Free up to $7,000 cash deposits per month
American Momentum Bank: Business Basic Checking
- $0 monthly fee
- No charge for first 200 items per month
- No charge for first 25 Bill Pay transactions per month
Bravera Bank: Business Basics Checking
- $0 monthly fee
- No minimum balance required
- Up to 500 free items deposited each month
Middlesex Savings Bank: Business Blue Checking
- $0 monthly fee
- No minimum balance required
- 400 free transactions per month
Magnolia Federal Credit Union: Business Checking
- $0 monthly fee
- Free unlimited transactions
- Minimum opening deposit is $100
Cape Ann Savings Bank: Business Checking
- $0 monthly fee
- Earn interest with daily minimum balance of $10
- No activity charges
Ameris Bank: Business Checking
- $0 monthly fee
- Ideal for businesses with less than 500 transaction items per month
- Minimum opening deposit of $100
NBKC Bank: Business Checking
- $0 minimum opening deposit
- $0 monthly service fee
- 37,000+ MoneyPass ATMs
- Minimum Deposit to Open: $0
717 Credit Union: Business Checking
- $0 monthly fee
- No minimum balance requirement
- Free unlimited electronic transactions
- 200 free cash or check-related transactions each month
Abington Bank: Business Checking
- $0 monthly fee
- No minimum balance requirement
- No per transaction fees
American Eagle Financial Credit Union: Business Checking
- $0 monthly fee
- 500 free monthly transactions
Arrha Credit Union: Business Checking
- $0 monthly fee
- Free Online Banking with Bill Payment
- Free eStatements
Bogota Savings Bank: Business Checking
- $0 monthly fee
- No minimum balance required
- $100 minimum opening deposit
Cogent Bank: Business Checking
- $0 monthly fee
- No minimum balance required
- No transaction fees
How to Get Business Account Bonuses
You can often find bank promotions for opening a new business checking account. These offers will usually be a cash bonus with a certain minimum deposit. The terms will usually be:
- Open a new account through a certain offer link.
- Earn a cash bonus after you complete a qualifying deposit within a certain number of days.
- Maintain that balance for a certain number of days.
- Receive your cash bonus after these qualifying activities are complete. The money will be deposited into your account.
We keep a list of the latest business promotions, so keep your eye out on our page. If you see a bonus offer, we will provide the promo code and details. Be aware of when the offer expires and act on it quick.
Get a $300 Bonus With Your New Account
Earn $300 when you open a new Chase Business Complete Banking account with qualifying activities. Visit their site to learn more.
What To Look for in a Business Account
What bank has the best business account? Picking the right bank for your business is important. Aside from just checking, your bank should be able to provide solutions to help your business grow (such as credit card offers and business loans).
Here are some factors to consider:
- Monthly fees and balance requirements
Most traditional banks have a monthly service fee. You'll have to maintain a minimum balance or complete deposit requirements in order to waive the monthly fees. Can you meet that requirement?What's the most you're willing to keep as a monthly balance? - Small or large bank
Large national banks are more convenient and may have more options. But small local banks or credit unions offer more personalized service.If you don't need in-person banking services, you may even want to consider an online bank, which often have less fees and lower requirements. - Number of transactions
How many transactions do you expect each month? Most banks offer a limited amount of free monthly transactions. See if the checking account meets your transaction and deposit needs. - Additional services and benefits
Will you potentially want a loan in the future? Or merchant services and payroll programs? If so, look for a bank that offers these services to small business owners. Having a personal relationship with your bank may help you obtain these services.
- Introductory offers
- Interest rates
- Transaction fees
- Early termination fees
- Account maintenance and minimum balance
- ATM access
- FDIC Insurance
Frequently Asked Questions
Can I use my personal bank account for business?
Sole proprietors are not legally required to have a business bank account. So technically, you can conduct both personal and business transactions from your personal account.
However, a separate business account will be helpful to keep expenses separate for tax reasons. LLCs, corporations, and DBAs are required to have a separate business bank account.
Do I have to be an LLC to open a business checking account?
Nope. Sole proprietors can open a business checking account with their SSN or tax ID.
As a sole proprietor, you can operate the business under your own name and don't even need to be registered. This works for self-employed individuals or small home businesses.
How long does it take to open a business checking account?
Many banks let you open a business checking account online, so you can fill out the application in minutes. You may then be required to send in additional supporting documents.
Once the application is approved, your new account could be up and running in as little as 3-5 business days. For the smoothest process, make sure to have all the required documentation ready when you apply.
How much money do I need to open a business checking account?
Each bank will have their own deposit requirements for their business checking accounts. It could be $0 or as low as just $25. More premium accounts may require higher opening deposits.
Watch out for any service fees. Some banks may require that you maintain a certain balance to avoid a monthly service fee.
Can I open a business bank account with bad credit?
Banks check your banking history and credit report when considering you for a new banking product. If you have a history of overdrafts or bank debts, it could be hard for you to get approved for a business bank account—especially as a sole proprietor.
For those with bad credit, forming an LLC could help. This action separates the business from your personal accounts.
There are banks that offer business accounts to those with bad credit. You'll need to ask around if there are options for you. Credit unions are also usually more lenient with their requirements.
What the Experts Say
As part of our series on small businesses and banking, CreditDonkey asked a panel of industry experts to answer readers' most pressing questions. Here's what they said:
References
- ^ IRS. FAQ Income & Expenses, Retrieved 3/19/2022
Write to Anna G at feedback@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.
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