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Avoid hidden fees. Determine the best free business checking account for your small business.
Earn $400 when you open a new small business checking account and complete qualifying activities.
Choose between:
Truist Simple Business Checking—Perfect if you're just starting out or have low transaction volume.
Truist Dynamic Business Checking—With more perks as your balances grow—and a true, local partnership.
New business checking clients only
From October 1st, 2024 – March 31st 2025
Terms and Conditions
Offer Information: Open a new Truist Simple Business Checking or Dynamic Business Checking account online, phone, or in a branch from 10/1/2024 through 3/31/2025 and earn $400 by making Qualifying Deposits* of $2,000 or more into your new account within 30 days of account opening.
Enrollment in the promotion is required at the time of account opening using promo code SB24Q4BIZAFL to be eligible for a promotion reward. Refer to the Account Opening & Promotion Enrollment sections below for instructions.
*Qualifying Deposits for new business checking accounts exclude debit card credit transactions and NSF fee refunds. Deposits can be made on a one-time basis or cumulatively over the 30 days.
Offer Eligibility: You must be a new Truist business checking client. To be considered a new business checking client, the business cannot have an existing Truist business checking account or have closed a Truist business checking account within 180 days of the promotion start date (i.e., on or after 4/4/2024), with the same Taxpayer Identification Number (TIN), including but not limited to an Employer Identification Number (EIN). The business account holder must be 18 years or older at time of account opening. The account holder cannot be a non-resident alien. The business account holder must have a valid U.S. TIN. The business's physical address must be located in one of the following states: AL, AR, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV or DC.
Reward Processing: The reward will be deposited to the new business checking account within 4 weeks after the qualification requirements have been met and verified. The new business checking account must be open and in good standing with a balance of at least $0.01 at the time of Truist verification and until the reward is deposited to receive the reward. Only one newly opened business checking account per client is eligible to participate in this offer. Truist may report the value of any reward received to the IRS, as required by law. Any applicable taxes are the responsibility of the recipient.
Reward Forfeiture: Reward forfeiture will occur if: (1) the business checking account is changed to an account type not included in this offer, (2) the business checking account is closed prior to the reward being deposited, or (3) the new business checking account has a $0.00 or negative available balance at the time of qualification validation.
Other Terms: Minimum opening deposit is $100. A monthly maintenance fee is applicable for Truist Dynamic Business accounts whose combined average relationship ledger balance is less than $5,000; the monthly maintenance fee is waived for accounts with a combined average relationship ledger balance of $5,000 or more. See Truist's Business Deposit Accounts Fee Schedule for additional information.
The offer is non-transferable and may not be combined with any other offers. This offer is subject to change and may be discontinued at any time. Truist reserves the right, in its sole discretion, to disqualify any account if Truist suspects accounts are being opened for the purpose of exploiting this promotional offer. All promotional payouts will be processed no later than 9/30/2025, at which point this promotion and any related disbursements will be considered final, and no further disbursements will be made.
Online Account Opening & Promotion Enrollment Instructions: During the online application process, ensure the promo code SB24Q4BIZAFL is entered into the Promo Code field and accept the offer when presented. Accounts opened online without the Promo Code will not be eligible to participate in the offer.
Branch Account Opening & Promotion Enrollment Instructions: Visit your local Truist branch or call a Small Business representative and ask to open an eligible account and enroll you in the Truist Small Business Checking Affiliate Q4 2024 & Q1 2025 Offer using promo code SB24Q4BIZAFL. Once enrolled in the promotion, clients may receive promotional updates via the email address provided or by calling 800-709-8700.
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 $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
The offer is for new eligible business checking customers only.
Offer expires 12/31/2025.
To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30)
days of account opening.
Maintain an average balance of $5,000 in that new Business Advantage Banking account during the Maintenance Period**.
Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
Additional terms and conditions apply. See offer page for more details.
*New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or
Merrill investment accounts.
** The Maintenance Period begins thirty-one (31) calendar days after account opening and ends ninety (90) calendar days after account opening.
Promo code Q4AFL24 MUST be used when opening a U.S. Bank Silver, Platinum, or Business Essentials (Available in AZ, NV, CO, NM, OH, IN, KY and TN) Business Checking account. Limit of one Business Checking bonus per business. A $100 minimum deposit is required to open one of the referenced accounts.
Earn your $400 Business Checking bonus by opening a new U.S. Bank Silver Business Checking or Business Essentials (not available in all markets) account between 10/1/2024 and 1/15/2025. You must make deposit(s) of at least $5,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $5,000 until the 60th day after account opening.
New money is considered money that is new to U.S. Bank. Funds must come from outside U.S Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. Checking account fees (e.g., monthly maintenance, paper statement fee, etc.) could reduce the qualifying daily balance, therefore you must make deposit(s) to cover the fees to maintain the daily balance during the qualifying period to be awarded the bonus. Refer to the Business Pricing Information or Business Essentials® Pricing Information Document for a list of fees.
The business checking bonus will be deposited into your new eligible U.S. Bank Business Checking account within 30 days following the last calendar day of the month you complete all of the offer requirements, as long as the account is open and has a positive available balance.
Offer may not be combined with any other business checking account bonus offers. Existing customers (businesses) with a business checking account or customers (businesses) who had an account in the last 12 months, do not qualify.
All regular account-opening procedures apply. For a comprehensive list of checking account pricing, terms and policies, reference your Business Pricing Information or Business Essentials® Pricing Information and YDAA disclosure. This document can be obtained by contacting a U.S. Bank branch or calling 800.872.2657.
Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice. Member FDIC.
To earn the $300 bonus, customers must apply for a Bluevine Business Checking account anytime between now and 12/31/2024 using the referral code CD300.
After opening the account, customers must add funds within 30 days, then meet at least one of the following eligibility requirements every 30 days for the next 90 days from account funding:
Deposit at least $5,000 from eligible merchant services to your Bluevine account OR
Make at least $5,000 of outbound payroll payments from your Bluevine account using eligible payroll providers OR
Spend at least $2,000 with your Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®
Banking services provided by Coastal Community Bank, Member FDIC
Business owners get up to $400 welcome bonus!*
Open a business checking account by January 31, 2025 and get up to $400 when you use promo code NEW400 on your application.*
No initial deposit requirement
No minimum balance requirement
No monthly maintenance fees
Free domestic incoming wires. Two (2) outgoing domestic wire fees reimbursed per month.
Unlimited domestic ATM fee reimbursements
Unlimited item processing (debits, credits, and deposited items)
Automatically find tax write-offs and save for taxes
Track and categorize expenses with custom rules
Free unlimited custom invoices
Easy sign up; no credit check
Found is a financial technology company, not a bank. Business banking services are provided by Piermont Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category. The Found Mastercard Business debit card is issued by Piermont Bank pursuant to a license from Mastercard Inc. and may be used everywhere Mastercard debit cards are accepted.
20 checking accounts per business & 2 savings accounts with up to 3% APY
Set up Profit First with auto-transfer rules
Custom permissions for team members
Integrate with QuickBooks Online, Xero, and Gusto
24/7 customer support
FDIC insurance up to $2,500,000 through an insured cash sweep program managed by Thread Bank, Member FDIC.
Are There Free Business Checking Accounts?
There are two main types of free business checking accounts:
Business checking accounts with NO monthly service fee
Business checking accounts that are free IF you maintain a minimum balance or meet other criteria
The first type, with no monthly service fee, is usually offered by online banks. These are good if you don't want to worry about maintaining a minimum balance. Just keep in mind that it may be less convenient to deposit cash into an online bank account.
Traditional brick-and-mortar banks usually require a minimum balance to waive the fee. But if you can easily meet the requirement, and it has the convenience and features you need, it could be right for you.
This list covers the best free business checking accounts for both types. Read on to learn more.
What kind of bank do you want to use for your small business?
32% National bank
29% Local bank
38% Online bank
Source: CreditDonkey poll, December 21, 2024. Totals may not add to 100% due to rounding.
Offer Information: Open a new Truist Simple Business Checking or Dynamic Business Checking account online, phone, or in a branch from 10/1/2024 through 3/31/2025 and earn $400 by making Qualifying Deposits* of $2,000 or more into your new account within 30 days of account opening.
Enrollment in the promotion is required at the time of account opening using promo code SB24Q4BIZAFL to be eligible for a promotion reward. Refer to the Account Opening & Promotion Enrollment sections below for instructions.
*Qualifying Deposits for new business checking accounts exclude debit card credit transactions and NSF fee refunds. Deposits can be made on a one-time basis or cumulatively over the 30 days.
Offer Eligibility: You must be a new Truist business checking client. To be considered a new business checking client, the business cannot have an existing Truist business checking account or have closed a Truist business checking account within 180 days of the promotion start date (i.e., on or after 4/4/2024), with the same Taxpayer Identification Number (TIN), including but not limited to an Employer Identification Number (EIN). The business account holder must be 18 years or older at time of account opening. The account holder cannot be a non-resident alien. The business account holder must have a valid U.S. TIN. The business's physical address must be located in one of the following states: AL, AR, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV or DC.
Reward Processing: The reward will be deposited to the new business checking account within 4 weeks after the qualification requirements have been met and verified. The new business checking account must be open and in good standing with a balance of at least $0.01 at the time of Truist verification and until the reward is deposited to receive the reward. Only one newly opened business checking account per client is eligible to participate in this offer. Truist may report the value of any reward received to the IRS, as required by law. Any applicable taxes are the responsibility of the recipient.
Reward Forfeiture: Reward forfeiture will occur if: (1) the business checking account is changed to an account type not included in this offer, (2) the business checking account is closed prior to the reward being deposited, or (3) the new business checking account has a $0.00 or negative available balance at the time of qualification validation.
Other Terms: Minimum opening deposit is $100. A monthly maintenance fee is applicable for Truist Dynamic Business accounts whose combined average relationship ledger balance is less than $5,000; the monthly maintenance fee is waived for accounts with a combined average relationship ledger balance of $5,000 or more. See Truist's Business Deposit Accounts Fee Schedule for additional information.
The offer is non-transferable and may not be combined with any other offers. This offer is subject to change and may be discontinued at any time. Truist reserves the right, in its sole discretion, to disqualify any account if Truist suspects accounts are being opened for the purpose of exploiting this promotional offer. All promotional payouts will be processed no later than 9/30/2025, at which point this promotion and any related disbursements will be considered final, and no further disbursements will be made.
Online Account Opening & Promotion Enrollment Instructions: During the online application process, ensure the promo code SB24Q4BIZAFL is entered into the Promo Code field and accept the offer when presented. Accounts opened online without the Promo Code will not be eligible to participate in the offer.
Branch Account Opening & Promotion Enrollment Instructions: Visit your local Truist branch or call a Small Business representative and ask to open an eligible account and enroll you in the Truist Small Business Checking Affiliate Q4 2024 & Q1 2025 Offer using promo code SB24Q4BIZAFL. Once enrolled in the promotion, clients may receive promotional updates via the email address provided or by calling 800-709-8700.
APY:1.5% APY on balances up to $250,000 with monthly eligibility requirements; 0% APY on balances over $250,000
ATMs:Approximately 40,000 MoneyPass ATMs
Perks:2 free checkbooks per year; No non-sufficient funds fee
Bluevine also offers a paid Plus tier that earns a 3% APY without minimum qualifications. With this upgrade, you can reduce most of your payment fees by 20%.
If you upgrade to the paid Premier tier, you'll enjoy a higher 4.00% APY, a 50% reduction in payment fees, and priority support. This can significantly enhance your savings, especially if you have lots of payments to make.
Although Bluevine is online, you can still deposit cash at over 90,000 GreenDot locations and over 1,500 Allpoint+ ATMs (though there's a fee).[1] You also get 2 free checkbooks a year. This is good for small traditional businesses that still deal with cash and paper checks.
You can also create up to 5 subaccounts with their own dedicated account numbers. Your balances in the subaccounts are eligible for interest too (up to $250k on combined balances across all the accounts for Standard tier, up to $250k for Plus tier, and up to $3M for Premier tier).
You can issue up to 4 additional debit cards to authorized users of your business checking account. You can easily manage and monitor transactions for these cards through your Bluevine dashboard. This ensures flexibility and security in business transactions without the need to share card details via text or email.
In addition, Bluevine offers a small business line of credit and invoice factoring. It's a great choice if you're looking for business checking plus financing in one place.
To earn the $300 bonus, customers must apply for a Bluevine Business Checking account anytime between now and 12/31/2024 using the referral code CD300.
After opening the account, customers must add funds within 30 days, then meet at least one of the following eligibility requirements every 30 days for the next 90 days from account funding:
Deposit at least $5,000 from eligible merchant services to your Bluevine account OR
Make at least $5,000 of outbound payroll payments from your Bluevine account using eligible payroll providers OR
Spend at least $2,000 with your Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®
Banking services provided by Coastal Community Bank, Member FDIC
Lili offers a basic business checking account with no monthly fee, no overdraft fee, no foreign transaction fee, and unlimited transactions.
Lili is open to single-owner businesses and multi-member companies (LLCs, partnerships, S-corps). It allows joint accounts access and offers Visa business debit cards to each business owner.
All accounts come with an Emergency Bucket for rainy days or just spare funds. There's no withdrawal limit, so you can move money back to your checking account at any time when you need them.
Another perk is that you can get direct deposits up to 2 days early. Whether you sell on Etsy or Shopify, drive Uber, or directly work with clients, you can get your earnings faster.
If you do upgrade to a paid Lili plan, you get more benefits. You can categorize your transactions and you get a Tax Bucket. This lets you automatically save for taxes, so you're not burdened by a hefty tax payment each quarter.
If you upgrade to Lili Pro, Smart, or Premium plans that start at $15.00/mo, you'll also get 3.65% APY on emergency savings, cashback rewards, invoicing, and fee-free overdraft up to $200.
Are taxes your biggest headache? The next account could be your tax-time game changer.
Found Business Banking
Best for: Freelancers and gig workers who have trouble with taxes
If you're newly self-employed and feel overwhelmed by taxes, Found is for you.
Like Lili, Found tracks your business expenses and automatically saves for taxes. And even better - its tax tools are all available with the free Found plan.
ATMs:Any ATM that accepts Mastercard; No ATMs fees from Found, but the owner may have fees
Found always keeps a real-time estimate of your current tax bill. Whenever you get paid or make a business purchase, it updates your tax owed accordingly. And it'll set aside the correct amount for you in a tax savings account.
When it's time to pay those quarterly taxes, you'll already know how much you owe and have the cash on hand to take care of it.
But that's not even the best part. Found Plus takes it one step further by submitting your quarterly tax payment for you - directly to the IRS! No more worrying about missing payments and late penalties. While this feature has a fee, not having to stress over taxes could be worth it.
And last thing - Found offers free unlimited invoices. This is great for freelancers who rely on invoicing for payment. Found will even send payment reminders to your clients for you.
Automatically find tax write-offs and save for taxes
Track and categorize expenses with custom rules
Free unlimited custom invoices
Easy sign up; no credit check
Found is a financial technology company, not a bank. Business banking services are provided by Piermont Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category. The Found Mastercard Business debit card is issued by Piermont Bank pursuant to a license from Mastercard Inc. and may be used everywhere Mastercard debit cards are accepted.
Promo code Q4AFL24 MUST be used when opening a U.S. Bank Silver, Platinum, or Business Essentials (Available in AZ, NV, CO, NM, OH, IN, KY and TN) Business Checking account. Limit of one Business Checking bonus per business. A $100 minimum deposit is required to open one of the referenced accounts.
Earn your $400 Business Checking bonus by opening a new U.S. Bank Silver Business Checking or Business Essentials (not available in all markets) account between 10/1/2024 and 1/15/2025. You must make deposit(s) of at least $5,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $5,000 until the 60th day after account opening.
New money is considered money that is new to U.S. Bank. Funds must come from outside U.S Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. Checking account fees (e.g., monthly maintenance, paper statement fee, etc.) could reduce the qualifying daily balance, therefore you must make deposit(s) to cover the fees to maintain the daily balance during the qualifying period to be awarded the bonus. Refer to the Business Pricing Information or Business Essentials® Pricing Information Document for a list of fees.
The business checking bonus will be deposited into your new eligible U.S. Bank Business Checking account within 30 days following the last calendar day of the month you complete all of the offer requirements, as long as the account is open and has a positive available balance.
Offer may not be combined with any other business checking account bonus offers. Existing customers (businesses) with a business checking account or customers (businesses) who had an account in the last 12 months, do not qualify.
All regular account-opening procedures apply. For a comprehensive list of checking account pricing, terms and policies, reference your Business Pricing Information or Business Essentials® Pricing Information and YDAA disclosure. This document can be obtained by contacting a U.S. Bank branch or calling 800.872.2657.
Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice. Member FDIC.
US Bank is good for newer growing businesses since you only get 125 free transactions per month. New businesses often have fluctuating income, so it's good that you don't need to worry about account minimums.
It's a solid choice if you prefer having a physical branch nearby and building in-person relationships. This can help you get loans and other business services down the road.
U.S. Bank has over 2,900 branches and 4,700+ U.S. Bank ATMs across the country. Even if you don't live close to a US Bank branch, you can use any of the approximately 40,000 MoneyPass ATMs with no surcharge.
Already a fan of Chase? Here's how their business checking could streamline your finances.
Chase Business Complete Banking
Best for: Existing Chase customers
Do you process credit cards for your business? Chase Business Complete Banking has built-in card processing included in the checking account.
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 $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
This account isn't completely free, but it does offer several easy ways to waive the $15 monthly fee (find them here). The Complete Banking features include:
QuickAccept mobile card reader and processing via app
Competitive processing rates at just 2.6% + $0.10 per swipe[2]
Same-day deposits into your checking account.
A nice perk is that you don't need to open a separate merchant account. You can do banking and processing all from one checking account.
Chase Bank is also known for its great mobile app and good, 24/7 customer service with real reps.
Tech-savvy businesses, pay attention. The upcoming account is designed for you.
Novo Business Banking
Best for: Tech-savvy businesses, software integrations
Novo is one of the best for all types of businesses. It accepts sole proprietors, LLCs, partnerships, and corporations.
ATMs:Up to $7 per month ATM fee reimbursement worldwide
Perks:Thousands of dollars in exclusive perks from popular business services
Novo stands out for being a tech-savvy banking account. You can integrate your checking with thousands of popular business apps, such as Shopify, Stripe, QuickBooks, Xero, Zapier, and Slack.
It also has a rewards program offering thousands in savings from popular business services. For example, you can get $5,000 in fee-free card processing with Stripe.
You can create up to 20 Reserves. This helps you budget for things like taxes, upcoming purchases, rainy day fund, and more.
There are no foreign transaction fees, so Novo is also great if you travel internationally for business.
What's the easiest business checking account to open? Novo is one of the easiest business accounts you can open. It doesn't do a credit check so you can get approved even without great credit. Plus, it's lenient on who counts as a business owner. Freelancers and gig workers are all welcome.
Running an e-commerce business? This next account might be your springboard to success.
Mercury Banking for Startups
Best for: Startups, e-commerce, and other digital businesses
Mercury is an online banking platform created specifically for tech startups. It has APIs that let you custom build your own banking experience.
When you open an account with Mercury, you get a completely fee-free checking business account, savings account, debit card, check payments, wire transfers, and financial tools.
There are no monthly fees, minimums, wire fees, or overdraft fees.
What's really unique about Mercury is their Raise program to connect startups to top investors. There's a fundraising round every quarter. If your startup is chosen, it will be shared with over 450 investors in their network. It's a great way to potentially accelerate your seed funding.
You need to be a US-based company and have an EIN to apply. It is not open to sole proprietors.
Earn $400 when you open a new small business checking account and complete qualifying activities.
Choose between:
Truist Simple Business Checking—Perfect if you're just starting out or have low transaction volume.
Truist Dynamic Business Checking—With more perks as your balances grow—and a true, local partnership.
New business checking clients only
From October 1st, 2024 – March 31st 2025
Terms and Conditions
Offer Information: Open a new Truist Simple Business Checking or Dynamic Business Checking account online, phone, or in a branch from 10/1/2024 through 3/31/2025 and earn $400 by making Qualifying Deposits* of $2,000 or more into your new account within 30 days of account opening.
Enrollment in the promotion is required at the time of account opening using promo code SB24Q4BIZAFL to be eligible for a promotion reward. Refer to the Account Opening & Promotion Enrollment sections below for instructions.
*Qualifying Deposits for new business checking accounts exclude debit card credit transactions and NSF fee refunds. Deposits can be made on a one-time basis or cumulatively over the 30 days.
Offer Eligibility: You must be a new Truist business checking client. To be considered a new business checking client, the business cannot have an existing Truist business checking account or have closed a Truist business checking account within 180 days of the promotion start date (i.e., on or after 4/4/2024), with the same Taxpayer Identification Number (TIN), including but not limited to an Employer Identification Number (EIN). The business account holder must be 18 years or older at time of account opening. The account holder cannot be a non-resident alien. The business account holder must have a valid U.S. TIN. The business's physical address must be located in one of the following states: AL, AR, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV or DC.
Reward Processing: The reward will be deposited to the new business checking account within 4 weeks after the qualification requirements have been met and verified. The new business checking account must be open and in good standing with a balance of at least $0.01 at the time of Truist verification and until the reward is deposited to receive the reward. Only one newly opened business checking account per client is eligible to participate in this offer. Truist may report the value of any reward received to the IRS, as required by law. Any applicable taxes are the responsibility of the recipient.
Reward Forfeiture: Reward forfeiture will occur if: (1) the business checking account is changed to an account type not included in this offer, (2) the business checking account is closed prior to the reward being deposited, or (3) the new business checking account has a $0.00 or negative available balance at the time of qualification validation.
Other Terms: Minimum opening deposit is $100. A monthly maintenance fee is applicable for Truist Dynamic Business accounts whose combined average relationship ledger balance is less than $5,000; the monthly maintenance fee is waived for accounts with a combined average relationship ledger balance of $5,000 or more. See Truist's Business Deposit Accounts Fee Schedule for additional information.
The offer is non-transferable and may not be combined with any other offers. This offer is subject to change and may be discontinued at any time. Truist reserves the right, in its sole discretion, to disqualify any account if Truist suspects accounts are being opened for the purpose of exploiting this promotional offer. All promotional payouts will be processed no later than 9/30/2025, at which point this promotion and any related disbursements will be considered final, and no further disbursements will be made.
Online Account Opening & Promotion Enrollment Instructions: During the online application process, ensure the promo code SB24Q4BIZAFL is entered into the Promo Code field and accept the offer when presented. Accounts opened online without the Promo Code will not be eligible to participate in the offer.
Branch Account Opening & Promotion Enrollment Instructions: Visit your local Truist branch or call a Small Business representative and ask to open an eligible account and enroll you in the Truist Small Business Checking Affiliate Q4 2024 & Q1 2025 Offer using promo code SB24Q4BIZAFL. Once enrolled in the promotion, clients may receive promotional updates via the email address provided or by calling 800-709-8700.
Managing a growing team? The next option is a banking solution that grows with your business.
Relay Business Checking
Best for: Businesses with lots of team members
Is your business growing and you can't handle everything alone anymore? Relay Financial may fit your needs. It's an online business banking account designed for big teams and bigger financial needs.
The standard Relay account has no monthly fees and no minimums. You can get up to 20 individual checking accounts and up to 50 debit cards at no extra cost. You can also set up automatic transfers from your checking account to your savings and earn interest on your excess money.
APY:Earn up to 3% APY: Earn 1% APY on savings balances of less than $50,000, 1.5% APY on savings between $50,000 and $250,000, 2% APY on savings balances between $250,000 and $1,000,000 and 3% APY on savings balances of more than $1,000,000.
ATMs:55,000+ Allpoint ATMs
Perks:Up to 20 accounts, 50 debit cards, and free checks
Relay makes it easy to customize money management. With up to 50 debit cards, you can assign each one for a dedicated purpose (for example, marketing expenses). This helps you get a better handle on your operating costs.
Each business checking account has its own unique account number. This is useful if you want specific accounts to bill or pay vendors, save for taxes, track payroll, etc.
There are 7 permission levels, so you can customize control for your team. You can designate managers, bill payers, deposit-only users, cardholders, and read-only access.
Axos gives you unlimited reimbursements of domestic ATM fees, so you can use any ATM you want. You can also deposit cash for free at cash-taking Allpoint and MoneyPass ATMs.
It's good for small businesses with modest checking needs, as you only get 60 remote check deposits per month. But an added perk is 2 outgoing domestic wire fees reimbursed per month, plus the first set of 50 checks free. This account also integrates with QuickBooks.
Axos Bank also offers a Business Interest Checking Account that earns a competitive APY on all balances. There is a $5,000 average daily balance requirement in order to waive the $10/mo service charge.
Business owners get up to $400 welcome bonus!*
Open a business checking account by January 31, 2025 and get up to $400 when you use promo code NEW400 on your application.*
No initial deposit requirement
No minimum balance requirement
No monthly maintenance fees
Free domestic incoming wires. Two (2) outgoing domestic wire fees reimbursed per month.
Unlimited domestic ATM fee reimbursements
Unlimited item processing (debits, credits, and deposited items)
Founded in 2019, Grasshopper is a digital bank geared towards small businesses in the innovation economy.
Even though it was created for startups, it's ideal for small businesses of all sizes since there's no monthly fee or minimums.
But you'll reap the biggest benefits if you maintain at least $10,000 in your account. You'll get unlimited 1% cashback on debit card purchases. Plus, you earn 3.30% APY on balances of $25,000 to $250,000 and 1.00% APY on balances up to $25,000 and on balances over $250,000.
APY:3.30% APY on balances of $25,000 to $250,000 and 1.00% APY on balances up to $25,000 and on balances over $250,000
ATMs:37,000+ MoneyPass and 8,500+ SUM ATMs nationwide
Perks:1% cashback if you maintain an average balance of $10,000 or more
The business checking account comes loaded with features. You get unlimited transfers, custom digital invoices, integrations with your accounting software, and cash flow management.
All users get dedicated support from their small business experts. You'll get personalized guidance from real humans when you have business questions.
It also offers APIs so you can design your own banking to fit exactly what you need.
Besides business checking, Grasshopper offers a full range of small business lending programs. It offers SBA loans, commercial real estate loans, venture capital, and even yacht financing!
Earn $400 when you open a new small business checking account and complete qualifying activities.
Choose between:
Truist Simple Business Checking—Perfect if you're just starting out or have low transaction volume.
Truist Dynamic Business Checking—With more perks as your balances grow—and a true, local partnership.
New business checking clients only
From October 1st, 2024 – March 31st 2025
Terms and Conditions
Offer Information: Open a new Truist Simple Business Checking or Dynamic Business Checking account online, phone, or in a branch from 10/1/2024 through 3/31/2025 and earn $400 by making Qualifying Deposits* of $2,000 or more into your new account within 30 days of account opening.
Enrollment in the promotion is required at the time of account opening using promo code SB24Q4BIZAFL to be eligible for a promotion reward. Refer to the Account Opening & Promotion Enrollment sections below for instructions.
*Qualifying Deposits for new business checking accounts exclude debit card credit transactions and NSF fee refunds. Deposits can be made on a one-time basis or cumulatively over the 30 days.
Offer Eligibility: You must be a new Truist business checking client. To be considered a new business checking client, the business cannot have an existing Truist business checking account or have closed a Truist business checking account within 180 days of the promotion start date (i.e., on or after 4/4/2024), with the same Taxpayer Identification Number (TIN), including but not limited to an Employer Identification Number (EIN). The business account holder must be 18 years or older at time of account opening. The account holder cannot be a non-resident alien. The business account holder must have a valid U.S. TIN. The business's physical address must be located in one of the following states: AL, AR, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV or DC.
Reward Processing: The reward will be deposited to the new business checking account within 4 weeks after the qualification requirements have been met and verified. The new business checking account must be open and in good standing with a balance of at least $0.01 at the time of Truist verification and until the reward is deposited to receive the reward. Only one newly opened business checking account per client is eligible to participate in this offer. Truist may report the value of any reward received to the IRS, as required by law. Any applicable taxes are the responsibility of the recipient.
Reward Forfeiture: Reward forfeiture will occur if: (1) the business checking account is changed to an account type not included in this offer, (2) the business checking account is closed prior to the reward being deposited, or (3) the new business checking account has a $0.00 or negative available balance at the time of qualification validation.
Other Terms: Minimum opening deposit is $100. A monthly maintenance fee is applicable for Truist Dynamic Business accounts whose combined average relationship ledger balance is less than $5,000; the monthly maintenance fee is waived for accounts with a combined average relationship ledger balance of $5,000 or more. See Truist's Business Deposit Accounts Fee Schedule for additional information.
The offer is non-transferable and may not be combined with any other offers. This offer is subject to change and may be discontinued at any time. Truist reserves the right, in its sole discretion, to disqualify any account if Truist suspects accounts are being opened for the purpose of exploiting this promotional offer. All promotional payouts will be processed no later than 9/30/2025, at which point this promotion and any related disbursements will be considered final, and no further disbursements will be made.
Online Account Opening & Promotion Enrollment Instructions: During the online application process, ensure the promo code SB24Q4BIZAFL is entered into the Promo Code field and accept the offer when presented. Accounts opened online without the Promo Code will not be eligible to participate in the offer.
Branch Account Opening & Promotion Enrollment Instructions: Visit your local Truist branch or call a Small Business representative and ask to open an eligible account and enroll you in the Truist Small Business Checking Affiliate Q4 2024 & Q1 2025 Offer using promo code SB24Q4BIZAFL. Once enrolled in the promotion, clients may receive promotional updates via the email address provided or by calling 800-709-8700.
Bank of America has thousands of ATMs and financial centers. It offers a flexible business checking account designed to adapt to your business's evolving needs.
For new businesses, the basic Business Advantage Fundamentals™ Banking account is a great starting point. As your business grows, you can level up to the higher tier and get additional benefits. You can switch between the two tiers anytime as needed.
A really cool feature is that you can connect your checking account with your other business apps, like QuickBooks and more. This lets you get real-time insights of your business metrics all in one place. It automatically projects cash flow, so you can make smarter business decisions.
You'll also get dedicated support from Bank of America's Small Business Specialists. From answering questions to providing guidance, they've got your back.
If you keep a higher balance, you can enroll in the Preferred Rewards program. This gives you even more perks. These include banking services fee waivers, more rewards, and discounts on interest rates.
Monthly Fee:$16 or $0 – Great news, there's no monthly fee for the first 12 statement cycles. To avoid the Monthly Fee after, meet one of the following requirements each statement cycle:
Maintain a $5,000 combined average monthly balance.
Use your Bank of America business debit card to make at least $500 in new net qualified purchases.
Monthly Fee:$29.95 (can be avoided each statement cycle by maintaining a $15,000 combined average monthly balance or becoming a member of Preferred Rewards for Business)
Perks:One extra Business Advantage Relationship Banking account and one Business Advantage Savings account can be included for no additional monthly fee.
No fee for incoming wire, stop payment, electronic deposits and more.
Wells Fargo is the third-largest bank in the US with approximately 4,100 branches. You may consider Wells Fargo if you want the convenience of a large bank with added services.
The Initiate Business Checking account is a basic account designed for growing small businesses. You only need $500 minimum daily balance to waive $10 fee.
One cool perk is that you can get customized debit card and checks with your business logo. This helps make your brand more memorable.
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 $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
Digital Federal Credit Union
Best for: Free business checking with credit union
Digital Federal Credit Union offers a Free Business Checking account with no monthly maintenance fees or minimum balance requirements.
It's the best credit union option because anyone can join nationwide. You just need to be a member of one of their participating organizations for as little as $10.
All accounts can get up to 4 business debit cards per account (upon approval) and unlimited free check-writing.
DCU also has a very wide surcharge-free ATM network of 80,000+ Allpoint, SUM, or CO-OP ATMs. That makes it convenient wherever you live.
If you're switching from another account, there's a handy free ClickSWITCH feature. DCU helps you contact all your current billers, so you can quickly switch over payments without going through the hassle yourself.
The offer is for new eligible business checking customers only.
Offer expires 12/31/2025.
To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30)
days of account opening.
Maintain an average balance of $5,000 in that new Business Advantage Banking account during the Maintenance Period**.
Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
Additional terms and conditions apply. See offer page for more details.
*New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or
Merrill investment accounts.
** The Maintenance Period begins thirty-one (31) calendar days after account opening and ends ninety (90) calendar days after account opening.
Bank of America, N.A. Member FDIC
Best Free Business Checking by Region
Are you looking for a local bank with physical branches? Small local businesses may benefit more from a regional or community bank. You'll have the chance to build a personal relationship with your banker.
Here are some solid business checking options in different regions.
PNC Bank has a large presence in the East and Midwest, with 2,200+ locations in 28 states.
The Basic Business Checking account is for small business owners with lower activity. It has low requirements to waive the monthly service fee. The opening deposit is just $100.
You get 150 free transactions and $5,000 in cash deposits per month. It also comes with built-in tools to help you track cash flow, manage payments, and sync accounting software.
As a bonus, PNC Bank often offers cash bonuses for opening a new account.
How to Waive Monthly Fee: The $12/mo maintenance fee can be waived by one of the following each statement cycle:[3]
Maintain an average monthly balance of $500
Make $500 in eligible purchases with a linked PNC business credit card
Keep a linked PNC Merchant Services Account and generate at least $500 in qualifying monthly processing deposits
Even if you can't meet one of these criteria once or twice a year, the fee ($12 a month) is low compared to other banks.
Huntington Business Checking 100 (Midwest)
Huntington Bank has more than 1,000 branches in the Midwest. It has a free Business Checking 100 account with no minimums or monthly fees.
This account is ideal for new businesses with limited activity. Each month, you get 100 free transactions and can deposit up to $5,000 in cash in-branch or at an ATM at no charge.
First Horizon BizEssentials Checking (South)
First Horizon Bank offers a BizEssentials Checking account with no minimums or monthly service fee.
This bank is more prominent in the south. But if you're not near a branch, you also get fee-free access to 55,000+ Allpoint ATMs across the nation.
No fee on first $5,000 deposited in coin and currency each month
ATMs:Fee-free access at 55,000+ First Horizons and Allpoint ATMs
First Citizens Bank (South)
First Citizens Bank's Basic Business Checking account has no monthly account minimum. You need a $100 deposit to open an account, which is pretty reasonable.
First Citizens Bank has over 500 locations primarily in the southern states and some scattered across the West coast.
You need to be an existing First Citizens Business Customer to open an account. The minimum deposit is $100.
Earn $400 when you open a new small business checking account and complete qualifying activities.
Choose between:
Truist Simple Business Checking—Perfect if you're just starting out or have low transaction volume.
Truist Dynamic Business Checking—With more perks as your balances grow—and a true, local partnership.
New business checking clients only
From October 1st, 2024 – March 31st 2025
Terms and Conditions
Offer Information: Open a new Truist Simple Business Checking or Dynamic Business Checking account online, phone, or in a branch from 10/1/2024 through 3/31/2025 and earn $400 by making Qualifying Deposits* of $2,000 or more into your new account within 30 days of account opening.
Enrollment in the promotion is required at the time of account opening using promo code SB24Q4BIZAFL to be eligible for a promotion reward. Refer to the Account Opening & Promotion Enrollment sections below for instructions.
*Qualifying Deposits for new business checking accounts exclude debit card credit transactions and NSF fee refunds. Deposits can be made on a one-time basis or cumulatively over the 30 days.
Offer Eligibility: You must be a new Truist business checking client. To be considered a new business checking client, the business cannot have an existing Truist business checking account or have closed a Truist business checking account within 180 days of the promotion start date (i.e., on or after 4/4/2024), with the same Taxpayer Identification Number (TIN), including but not limited to an Employer Identification Number (EIN). The business account holder must be 18 years or older at time of account opening. The account holder cannot be a non-resident alien. The business account holder must have a valid U.S. TIN. The business's physical address must be located in one of the following states: AL, AR, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV or DC.
Reward Processing: The reward will be deposited to the new business checking account within 4 weeks after the qualification requirements have been met and verified. The new business checking account must be open and in good standing with a balance of at least $0.01 at the time of Truist verification and until the reward is deposited to receive the reward. Only one newly opened business checking account per client is eligible to participate in this offer. Truist may report the value of any reward received to the IRS, as required by law. Any applicable taxes are the responsibility of the recipient.
Reward Forfeiture: Reward forfeiture will occur if: (1) the business checking account is changed to an account type not included in this offer, (2) the business checking account is closed prior to the reward being deposited, or (3) the new business checking account has a $0.00 or negative available balance at the time of qualification validation.
Other Terms: Minimum opening deposit is $100. A monthly maintenance fee is applicable for Truist Dynamic Business accounts whose combined average relationship ledger balance is less than $5,000; the monthly maintenance fee is waived for accounts with a combined average relationship ledger balance of $5,000 or more. See Truist's Business Deposit Accounts Fee Schedule for additional information.
The offer is non-transferable and may not be combined with any other offers. This offer is subject to change and may be discontinued at any time. Truist reserves the right, in its sole discretion, to disqualify any account if Truist suspects accounts are being opened for the purpose of exploiting this promotional offer. All promotional payouts will be processed no later than 9/30/2025, at which point this promotion and any related disbursements will be considered final, and no further disbursements will be made.
Online Account Opening & Promotion Enrollment Instructions: During the online application process, ensure the promo code SB24Q4BIZAFL is entered into the Promo Code field and accept the offer when presented. Accounts opened online without the Promo Code will not be eligible to participate in the offer.
Branch Account Opening & Promotion Enrollment Instructions: Visit your local Truist branch or call a Small Business representative and ask to open an eligible account and enroll you in the Truist Small Business Checking Affiliate Q4 2024 & Q1 2025 Offer using promo code SB24Q4BIZAFL. Once enrolled in the promotion, clients may receive promotional updates via the email address provided or by calling 800-709-8700.
Written Partnership or Joint Venture Agreement (for Partnerships)
Articles of Organization (for LLCs)
Articles of Incorporation (for Corporations)
Sole proprietors can usually open a business account online. Partnerships, LLCs, and Corporations may require all general partners or members to be present. Find out your bank's requirements.
Earn $400 when you open a new small business checking account and complete qualifying activities.
Choose between:
Truist Simple Business Checking—Perfect if you're just starting out or have low transaction volume.
Truist Dynamic Business Checking—With more perks as your balances grow—and a true, local partnership.
New business checking clients only
From October 1st, 2024 – March 31st 2025
Terms and Conditions
Offer Information: Open a new Truist Simple Business Checking or Dynamic Business Checking account online, phone, or in a branch from 10/1/2024 through 3/31/2025 and earn $400 by making Qualifying Deposits* of $2,000 or more into your new account within 30 days of account opening.
Enrollment in the promotion is required at the time of account opening using promo code SB24Q4BIZAFL to be eligible for a promotion reward. Refer to the Account Opening & Promotion Enrollment sections below for instructions.
*Qualifying Deposits for new business checking accounts exclude debit card credit transactions and NSF fee refunds. Deposits can be made on a one-time basis or cumulatively over the 30 days.
Offer Eligibility: You must be a new Truist business checking client. To be considered a new business checking client, the business cannot have an existing Truist business checking account or have closed a Truist business checking account within 180 days of the promotion start date (i.e., on or after 4/4/2024), with the same Taxpayer Identification Number (TIN), including but not limited to an Employer Identification Number (EIN). The business account holder must be 18 years or older at time of account opening. The account holder cannot be a non-resident alien. The business account holder must have a valid U.S. TIN. The business's physical address must be located in one of the following states: AL, AR, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV or DC.
Reward Processing: The reward will be deposited to the new business checking account within 4 weeks after the qualification requirements have been met and verified. The new business checking account must be open and in good standing with a balance of at least $0.01 at the time of Truist verification and until the reward is deposited to receive the reward. Only one newly opened business checking account per client is eligible to participate in this offer. Truist may report the value of any reward received to the IRS, as required by law. Any applicable taxes are the responsibility of the recipient.
Reward Forfeiture: Reward forfeiture will occur if: (1) the business checking account is changed to an account type not included in this offer, (2) the business checking account is closed prior to the reward being deposited, or (3) the new business checking account has a $0.00 or negative available balance at the time of qualification validation.
Other Terms: Minimum opening deposit is $100. A monthly maintenance fee is applicable for Truist Dynamic Business accounts whose combined average relationship ledger balance is less than $5,000; the monthly maintenance fee is waived for accounts with a combined average relationship ledger balance of $5,000 or more. See Truist's Business Deposit Accounts Fee Schedule for additional information.
The offer is non-transferable and may not be combined with any other offers. This offer is subject to change and may be discontinued at any time. Truist reserves the right, in its sole discretion, to disqualify any account if Truist suspects accounts are being opened for the purpose of exploiting this promotional offer. All promotional payouts will be processed no later than 9/30/2025, at which point this promotion and any related disbursements will be considered final, and no further disbursements will be made.
Online Account Opening & Promotion Enrollment Instructions: During the online application process, ensure the promo code SB24Q4BIZAFL is entered into the Promo Code field and accept the offer when presented. Accounts opened online without the Promo Code will not be eligible to participate in the offer.
Branch Account Opening & Promotion Enrollment Instructions: Visit your local Truist branch or call a Small Business representative and ask to open an eligible account and enroll you in the Truist Small Business Checking Affiliate Q4 2024 & Q1 2025 Offer using promo code SB24Q4BIZAFL. Once enrolled in the promotion, clients may receive promotional updates via the email address provided or by calling 800-709-8700.
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 $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
The offer is for new eligible business checking customers only.
Offer expires 12/31/2025.
To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30)
days of account opening.
Maintain an average balance of $5,000 in that new Business Advantage Banking account during the Maintenance Period**.
Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
Additional terms and conditions apply. See offer page for more details.
*New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or
Merrill investment accounts.
** The Maintenance Period begins thirty-one (31) calendar days after account opening and ends ninety (90) calendar days after account opening.
Bank of America, N.A. Member FDIC
When should I open up a business bank account? You should open a business bank account once you're set to begin accepting or spending money as your business.[4]
Account Balance Requirements Free does not always mean free. Some banks require owners to maintain a certain daily or monthly balance. To avoid fees, make sure you can maintain the minimum required balance in the time frame.
Opening Deposit Requirements Banks may also require a certain dollar amount as an initial deposit. The amount varies greatly by institution - be sure to double-check ahead of time.
Monthly Transaction Caps Small business checking accounts are free because of the minimal effort it takes banks to maintain the account. These business accounts may have a maximum transaction limit. Look for a bank account that can accommodate your business's transaction amount.
Physical Location Consider whether having a physical branch nearby is important to you. If you make a lot of deposits and withdrawals, you may want the convenience of a physical branch. If you can manage your business finances completely online, online-only banks will open up a lot of possibilities.
Other Banking Services Does your business receive wire transfers often? Or do you need to make cash and check deposits? If so, search for a bank that offers these features at lowest cost. For example, some banks offer free incoming wires.
Payment Platform If your small business uses platforms like Venmo or PayPal, consider those payment platforms when signing up for a free business checking account.
Ask about when funds are available across major payment platforms. The difference between a day or two days can be crucial for small businesses.
Software Integration If your small business uses accounting products like QuickBooks or Quicken, consider whether they will integrate with your new small business checking account.
Size of the Bank A smaller bank will be more personal and upfront with local ties. A larger bank will have greater technology, more branch locations, and greater flexibility when it comes to fees.
Earn $400 when you open a new small business checking account and complete qualifying activities.
Choose between:
Truist Simple Business Checking—Perfect if you're just starting out or have low transaction volume.
Truist Dynamic Business Checking—With more perks as your balances grow—and a true, local partnership.
New business checking clients only
From October 1st, 2024 – March 31st 2025
Terms and Conditions
Offer Information: Open a new Truist Simple Business Checking or Dynamic Business Checking account online, phone, or in a branch from 10/1/2024 through 3/31/2025 and earn $400 by making Qualifying Deposits* of $2,000 or more into your new account within 30 days of account opening.
Enrollment in the promotion is required at the time of account opening using promo code SB24Q4BIZAFL to be eligible for a promotion reward. Refer to the Account Opening & Promotion Enrollment sections below for instructions.
*Qualifying Deposits for new business checking accounts exclude debit card credit transactions and NSF fee refunds. Deposits can be made on a one-time basis or cumulatively over the 30 days.
Offer Eligibility: You must be a new Truist business checking client. To be considered a new business checking client, the business cannot have an existing Truist business checking account or have closed a Truist business checking account within 180 days of the promotion start date (i.e., on or after 4/4/2024), with the same Taxpayer Identification Number (TIN), including but not limited to an Employer Identification Number (EIN). The business account holder must be 18 years or older at time of account opening. The account holder cannot be a non-resident alien. The business account holder must have a valid U.S. TIN. The business's physical address must be located in one of the following states: AL, AR, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV or DC.
Reward Processing: The reward will be deposited to the new business checking account within 4 weeks after the qualification requirements have been met and verified. The new business checking account must be open and in good standing with a balance of at least $0.01 at the time of Truist verification and until the reward is deposited to receive the reward. Only one newly opened business checking account per client is eligible to participate in this offer. Truist may report the value of any reward received to the IRS, as required by law. Any applicable taxes are the responsibility of the recipient.
Reward Forfeiture: Reward forfeiture will occur if: (1) the business checking account is changed to an account type not included in this offer, (2) the business checking account is closed prior to the reward being deposited, or (3) the new business checking account has a $0.00 or negative available balance at the time of qualification validation.
Other Terms: Minimum opening deposit is $100. A monthly maintenance fee is applicable for Truist Dynamic Business accounts whose combined average relationship ledger balance is less than $5,000; the monthly maintenance fee is waived for accounts with a combined average relationship ledger balance of $5,000 or more. See Truist's Business Deposit Accounts Fee Schedule for additional information.
The offer is non-transferable and may not be combined with any other offers. This offer is subject to change and may be discontinued at any time. Truist reserves the right, in its sole discretion, to disqualify any account if Truist suspects accounts are being opened for the purpose of exploiting this promotional offer. All promotional payouts will be processed no later than 9/30/2025, at which point this promotion and any related disbursements will be considered final, and no further disbursements will be made.
Online Account Opening & Promotion Enrollment Instructions: During the online application process, ensure the promo code SB24Q4BIZAFL is entered into the Promo Code field and accept the offer when presented. Accounts opened online without the Promo Code will not be eligible to participate in the offer.
Branch Account Opening & Promotion Enrollment Instructions: Visit your local Truist branch or call a Small Business representative and ask to open an eligible account and enroll you in the Truist Small Business Checking Affiliate Q4 2024 & Q1 2025 Offer using promo code SB24Q4BIZAFL. Once enrolled in the promotion, clients may receive promotional updates via the email address provided or by calling 800-709-8700.
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 $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
The offer is for new eligible business checking customers only.
Offer expires 12/31/2025.
To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30)
days of account opening.
Maintain an average balance of $5,000 in that new Business Advantage Banking account during the Maintenance Period**.
Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
Additional terms and conditions apply. See offer page for more details.
*New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or
Merrill investment accounts.
** The Maintenance Period begins thirty-one (31) calendar days after account opening and ends ninety (90) calendar days after account opening.
Bank of America, N.A. Member FDIC
How do I know if the bank is FDIC insured? To check if a bank is FDIC-insured:
Can you open a business checking account with no credit check?
When you apply for a business bank account, the bank will most likely check your credit history. If you're a sole proprietor and use your SSN for business purposes, the bank may check your personal credit. This is only a soft credit inquiry, so your credit score will not be impacted.
If you form an LLC, corporation, or partnership, then you'll get a separate tax identification number (EIN). This number isn't tied to your SSN, so your personal credit may not be checked. If you have business credit, that may be used to see if you qualify.
However, your credit may not be the only thing checked. Banks also usually run your banking history through ChexSystems. This is another reporting agency, but it only reports any negative marks on checking and savings banking activity.
For example, if you've had some overdrafts or didn't pay banking fees, it will show up there.
If your credit or ChexSystem report (request a free one here) doesn't qualify you for a business banking account, you could consider a bank that offers second chance checking. These are designed to help those who have trouble being approved for a normal bank account.
How to Print Business Checks
Most business checking accounts do not offer free business checks. But you can save money by printing them at home using just any blank check paper.
You will need a check printing software, such as Online CheckWriter or Checkeeper. The software will help you design professional checks that you can print anytime with any printer at home. You can also print as many as you like.
To print a check, you will need to enter:
Your banking institution
Bank routing number and bank account number
Your name and address
Payee name and amount
Date
The software will do the rest for you and format it to banking standards. You don't need any special ink or printer. For businesses that write a lot of checks, this can offer a much cheaper and more efficient solution to pre-printed checkbooks by your bank.
Which banks give you free business checks? Most banks do not give free business checks, but here are some that do.
Bluevine - 2 free checkbooks per year
Axos - first set of 50 checks free
Novo - sends paper checks on your behalf for free
Methodology
To come up with the best free business checking accounts, we first focused on business banking accounts with no monthly fees. You don't need to worry about keeping a certain balance.
We also included popular business checking accounts that let you waive the monthly fee. We made sure that the requirements are reasonable and easy to waive for small business owners.
We know that businesses have different needs. So we looked for accounts with unique features that cater to certain kinds of businesses.
Whether you're a single-person business or have a large team, operate a retail store or an online startup, you'll find a suitable account for you.
What the Experts Say
Looking for the right business checking account isn't easy. Take time to figure out what your business needs. CreditDonkey asked a panel of industry experts to answer readers' most pressing questions. Here's what they said:
BOTTOM LINE
Free business checking accounts work best for growing small businesses looking for a way to start up for cheap and save on banking costs.
But only a select few banks offer completely free business checking options. If you meet certain conditions, though, many business bank accounts can be free.
Make sure to double-check the terms and conditions of your business checking account to ensure you can keep the account free long term.
To earn the $300 bonus, customers must apply for a Bluevine Business Checking account anytime between now and 12/31/2024 using the referral code CD300.
After opening the account, customers must add funds within 30 days, then meet at least one of the following eligibility requirements every 30 days for the next 90 days from account funding:
Deposit at least $5,000 from eligible merchant services to your Bluevine account OR
Make at least $5,000 of outbound payroll payments from your Bluevine account using eligible payroll providers OR
Spend at least $2,000 with your Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®
Banking services provided by Coastal Community Bank, Member FDIC
Automatically find tax write-offs and save for taxes
Track and categorize expenses with custom rules
Free unlimited custom invoices
Easy sign up; no credit check
Found is a financial technology company, not a bank. Business banking services are provided by Piermont Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category. The Found Mastercard Business debit card is issued by Piermont Bank pursuant to a license from Mastercard Inc. and may be used everywhere Mastercard debit cards are accepted.
Business owners get up to $400 welcome bonus!*
Open a business checking account by January 31, 2025 and get up to $400 when you use promo code NEW400 on your application.*
No initial deposit requirement
No minimum balance requirement
No monthly maintenance fees
Free domestic incoming wires. Two (2) outgoing domestic wire fees reimbursed per month.
Unlimited domestic ATM fee reimbursements
Unlimited item processing (debits, credits, and deposited items)
Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.
The $300 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
The offer is for new checking customers only.
Offer expires 01/31/2025.
To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive Qualifying Direct Deposits* totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
Additional terms and conditions apply. See offer page for more details.
*A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
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