Online-only banks have grown in popularity in recent years thanks to certain benefits that brick-and-mortar banks can’t match. With less overhead costs from not having to operate physical branches, online banks may offer lower fees and other perks like better interest rates. Of course, the convenience of being able to bank from anywhere, anytime, can also be a huge draw, especially for busy small business owners.
Below, CNBC Select rounded up the seven best online business bank accounts. We considered various factors when ranking the top accounts, including fees, interest rates and more. (Read more about our methodology below.)
Best online business checking accounts
Bluevine Business Checking
A *$300 bonus by applying for a Bluevine Business Checking account using the referral code CNBC300 before 3/31/2025. Minimum qualifications must be fulfilled in order to be eligible for this bonus.
Standard $0; Bluevine Plus $30/month (with options to waive); Premier $95/month (with options to waive)
Terms apply. Bluevine accounts are FDIC insured up to $3 million per depositor through Coastal Community Bank, Member FDIC
Best for no fees
Bluevine Business Checking
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Special offer
A *$300 bonus by applying for a Bluevine Business Checking account using the referral code CNBC300 before 3/31/2025. Minimum qualifications must be fulfilled in order to be eligible for this bonus.
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Monthly maintenance fee
Standard $0; Bluevine Plus $30/month (with options to waive); Premier $95/month (with options to waive)
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Minimum deposit to open
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Minimum balance
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Annual Percentage Yield (APY)
Standard 1.5% APY on balances up to $250,000 if you meet a monthly activity goal*; Bluevine Plus 2.7% on balances up to $250,000; Premier 3.7% APY on balances up to $3 million
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Free ATM network
No fees at over 38,000 ATM locations nationwide
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ATM fee reimbursement
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Small business perks
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Overdraft fee
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Mobile check deposit
Terms apply. Bluevine accounts are FDIC insured up to $3 million per depositor through Coastal Community Bank, Member FDIC
Pros
- No monthly fees, monthly or daily balance minimums, ACH payment fees, incoming wire fees or overdraft fees
- Ability to instantly lock and unlock your Bluevine Business Debit Mastercard® for added security
- Connect to business tools like PayPal, Stripe and Expensify
- Unlimited transactions
Cons
- Online only (not great if you prefer in-person banking)
- No ATM refunds for out-of-network transactions
*The requirements to earn the $300 bonus:
Customers must apply for a Bluevine Business Checking account by 3/31/2025 using the referral code above. 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
- Make at least $5,000 of outbound payroll payments from your Bluevine account using eligible payroll providers
- Spend at least $2,000 with your Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®
*The requirements to earn interest are either:
- Debit Card Spend: Spend $500 per month with Bluevine Business Debit Mastercard® issued by Coastal Community Bank pursuant to a license from Mastercard inc, which can be used everywhere Mastercard® is accepted.
- Incoming Payments: Receive $2,500 per month in customer payments into Bluevine Business Checking account via ACH, wire transfer, mobile check deposit, or directly from merchant payment processing provider
Who’s this for? Bluevine Business Checking stands out for offering a competitive interest rate for a checking account. It also doesn’t charge any monthly, minimum balance or insufficient fund fees and doesn’t limit the number of transactions you can make in a month.
Standout benefits: This account has a generous tiered APY offering that allows Bluevine Plus and Premier customers to earn an even higher return on their balances.
Best for special perks
Novo Business Checking
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Special offers
Perks upon sign up can include $3,000 in Google Cloud credits, $150 toward Google Ads, 40% off the first six months of QuickBooks Online and up to $20,000 in fee-free credit card transactions when you link your account with Stripe
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Monthly maintenance fee
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Minimum deposit to open
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Minimum balance
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Annual Percentage Yield (APY)
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Free ATM network
No out-of-network ATM fees and reimburses fees charged by other ATM operators, up to $7 per month
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ATM fee reimbursement
Yes, up to $7 per month worldwide
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Small business perks
Sync your account with Slack, Stripe, Shopify, Quickbooks, TransferWise, Xero, Zapier and other popular merchant tools. Amazon integration for sales and revenue tracking.
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Overdraft fee
If a transaction is made and there are insufficient funds to complete the payment, your Novo account will not be charged an overdraft fee
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Mobile check deposit
Terms apply. Novo Platform Inc. {“Novo”) is a fintech, not a bank. Banking services provided by Middlesex Federal Savings, F.A. Member FDIC.
Pros
- Seamless tech integrations make it easy for the solo entrepreneur who does it all
- Money-saving partnerships with popular invoicing, marketing and communications tools
- Syncs easily to Google Pay and Apple Pay
- Unlimited fee-free monthly transactions
- No monthly fees or minimum balance requirements
- ATM reimbursements up to $7 per month
Cons
- Online only (not great if you prefer in-person banking)
- No easy way to deposit cash
Who’s this for? Novo Business Checking offers various discounts useful to business owners. It also doesn’t have a minimum amount required to open the account and doesn’t charge a monthly maintenance fee.
Standout benefits: When you sign up for the account, you can get up to $3,000 in Google Cloud credits, $150 toward Google Ads, 40% off the first six months of QuickBooks Online and up to $20,000 in fee-free credit card transactions when you link your account with Stripe. Plus, it has no transaction limits and reimburses third-party ATM fees up to $7 per month.
Best for streamlined business support
LendingClub Tailored Checking
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Special offer
1.00% cash back on qualifying purchases made using the debit card tied to a Tailored Checking account with an average monthly balance of $500
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Monthly maintenance fee
$10 (waived if the average monthly balance is at least $500.00)
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Minimum deposit to open
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Minimum balance
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Annual Percentage Yield (APY)
1.50% APY on balances between $0.00–$499.99; 1.50% APY on balances between $500.00-$99,999.99; 0.10% APY on balances of $100,000.00 or more
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Free ATM network
Doesn’t charge a fee to use another bank’s ATM
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ATM fee reimbursement
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Small business perks
Can sync your checking account to Quickbooks® or Quicken®; ability to create and send online invoices and get paid using Autobooks
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Overdraft fee
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Mobile check deposit
Pros
- Small minimum deposit to open the account
- ATM rebates offered
- Offers an APY
- Offers a debit card that can be used to earn cash back
- Mobile check deposit
- Integrations with business tools like Quickbooks® or Quicken®
Cons
- Monthly maintenance fee if you don’t keep an average balance of at least $500 in the account
- Earn a lower APY if you have a higher account balance
- Stop payment fee of $25
Who’s this for? LendingClub Tailored Checking is a well-rounded business checking account that earns interest on your balance and cash back on debit card purchases. Customers can easily integrate their accounts with Quicken® or Quickbooks® for a more streamlined accounting process. The account also has a built-in invoicing and payment platform called Autobooks, which you can use to create and send invoices and accept payments from customers.
Standout benefits: This account offers 1% cash back on qualifying purchases made using the debit card tied to a Tailored Checking account as long as the account holder has an average monthly balance of at least $500.
Best for debit card rewards
Grasshopper Business Checking
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Special offer
1.00% cash back on qualifying purchases. Earn 3.75% APY on balances of $25,000 or more when bundled with an Innovator MMA Savings Account.
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Monthly maintenance fee
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Minimum deposit to open
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Minimum balance
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Annual Percentage Yield (APY)
1.51% APY on balances of $0.01—$24,999.99 and $250,000.01; up to 2.25% APY on balances of $25,000-$250,000
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Free ATM network
No fee withdrawals at over 37,000 MoneyPass ATMs nationwide
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ATM fee reimbursement
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Small business perks
Rewards debit card access
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Overdraft fee
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Mobile check deposit
Pros
- No monthly fees, balance minimums or overdraft fees
- Offers a debit card that can be used to earn cash back
- Offers an APY
- Mobile check deposit
- Small minimum deposit amount to open the account
Cons
- Online only (not great if you prefer in-person banking)
- You need a higher account balance to earn the highest APY tier
Best for sole proprietors and single-owner LLCs
EverBank Business Checking
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Special offer
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Monthly maintenance fee
$14.95 (waived if the average daily balance is at least $5,000)
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Minimum deposit to open
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Minimum balance
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Annual Percentage Yield (APY)
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Free ATM network
Fee-free at over 10,000 ATMs
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ATM fee reimbursement
Will automatically reimburse customers up to $15 for fees paid at out-of-network ATMs
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Small business perks
Treasury services let you get personalized cash flow strategies from a team of experts
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Overdraft fee
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Mobile check deposit
Pros
- Automatically reimburses ATM fees
- Offers a team of experts who can assist with personalized cash flow strategies
- No overdraft fee
- Mobile check deposit
- First 200 items processed for free each month
- Offers overdraft protection
Cons
- High minimum deposit to open the account
- Monthly maintenance fee if you don’t keep an average daily balance of at least $5,000 in the account
- Doesn’t pay an APY
Who’s this for? EverBank Small Business Checking is geared toward sole proprietors and single-owner LLCs.
Standout benefits: All account holders will enjoy the same APY and no monthly maintenance fee regardless of their balance. By comparison, EverBank’s checking account options for other types of businesses and non-profits require a $5,000 minimum monthly balance to waive the monthly fee.
Best for gig workers and freelancers
Found Banking
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Special offer
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Monthly maintenance fee
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Minimum deposit to open
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Minimum balance
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Annual Percentage Yield (APY)
None using the free version; 1.5% APY on balances up to $20K for Found Plus
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Free ATM network
Standard ATM fees will apply
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ATM fee reimbursement
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Small business perks
Access to built-in bookkeeping and tax tools; integrations with Stripe and Quickbooks; unlimited customizable invoices; offers Found Plus, which is an optional premium service that provides access to more advanced business tools for $19.99 per month
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Overdraft fee
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Mobile check deposit
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. Direct deposit funds may be available for use for up to two days before the scheduled payment date. Early availability is not guaranteed.
Pros
- Create pockets to organize your cash flow
- No required monthly fees or balance minimums
- Easy to sign up for in just a few minutes
- Built-in accounting and tax tools
- FDIC-insured for up to $250,000
- Mobile check deposits
- Physical and virtual debit card available
- Can receive direct deposits up to two days early
Cons
- Found won’t charge you ATM fees but standard ATM fees will apply
- ATM withdrawal limit of $550
- Doesn’t offer an APY using free version
- Weekly check deposit limit of $3,000/week and weekly cash deposit limit of $2,000/week; monthly cash deposit limit of $4,000
Who’s this for? Found is built for those who are self-employed, freelancers or gig workers. It features the ability to create different “pockets” to organize the flow of your income. Since self-employed individuals don’t have a company withholding taxes, Found lets you easily separate money for paying your taxes from money for spending.
Standout benefits: Found offers access to built-in bookkeeping and tax tools. Account holders can access more advanced business tools for a monthly fee.
Best for welcome bonus
Axos Business Interest Checking
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Special offer
Business owners get up to $400 welcome bonus!* Open a business checking account by September 30 and get up to $400 when you use promo code NEW400 on your application.*
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Monthly maintenance fee
$10 (waived with $5,000 minimum average daily balance)
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Minimum deposit to open
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Minimum balance
$0 (must keep a $5,000 minimum average daily balance to waive the maintenance fee)
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Annual Percentage Yield (APY)
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Free ATM network
Standard ATM fees may apply
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ATM fee reimbursement
Unlimited ATM fee reimbursements (domestic only)
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Small business perks
Access to merchant services through Celero Merchant Solution, payroll services through Roll by ADP and small business lending with Centerstone Small Business Administration Lending
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Overdraft fee
$25 per item ($75 maximum per day) for non-sufficient/uncollected funds on paid or returned items
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Mobile check deposit
Pros
- Generous welcome bonus
- Offers an APY
- FDIC-insured for up to $250,000
- ATM fee reimbursement
- Offers a mobile app
Cons
- $100 minimum deposit to open the account
- Charges a $10 monthly maintenance fee that is only waived if you keep an average daily balance of at least $5,000
*Small Business Checking bonus up to $400:Â You must be approved for your new Basic Business Checking or Business Interest Checking account and fund it within 30 days of account opening. An incentive of up to $400 can be earned during the first five (5) statement cycles. A statement cycle is a calendar month consisting of at least one day your account was open during that month. You can earn a maximum of four (4) payouts during the five (5) statement cycles, and the incentive will be deposited into the qualifying account within 10 business days following the end of the statement cycle in which the balance requirement was met.
- $75 will be earned for each statement cycle, up to $300 during when you meet two requirements: 1) the average daily balance in your Basic Business Checking account or Business Interest Checking Account is between $25,000 and $49,999.99, 2) you have completed ten (10) point-of-sale transactions per month using your Small Business Checking Visa® Debit Card for signature-based purchases with a minimum of $3 per transaction.
- $100 will be earned for each statement cycle, up to $400 during when you meet two requirements : 1) the average daily balance in your Basic Business Checking account or Business Interest Checking Account is $50,000 or greater, 2) you have completed ten (10) point-of-sale transactions per month using your Small Business Checking Visa® Debit Card for signature-based purchases with a minimum of $3 per transaction.
Who’s this for? Axos Business Interest Checking is ideal for business owners seeking a generous welcome bonus.
Standout benefits: New business checking account holders can get up to $400 when signing up with the promo code NEW400. There are several requirements to earn the bonus, notably that the average daily balance in your account must be between $25,000 and $49,999.99 for a $300 bonus or greater than $50,000 for a $400 bonus, and you must have bill pay set up and at least ten point-of-sale transactions per month.
More on our top online business checking accounts
Bluevine Business Checking
Bluevine is a fintech company with banking services provided by Coastal Community Bank. It offers some features you often don’t get through online banks, such as the ability to deposit cash, order checkbooks and more.
Standard Bluevine business checking customers can earn a 1.5% APY on balances up to $250,000 by meeting monthly activity goals, while Bluevine Plus and Premier customers can unlock an even higher APY.
Account holders can deposit checks from their phones and create dedicated employee login information so they can share access with the rest of their team. Other perks include various accounts payable integrations that can help streamline your business operations and up to $3 million in FDIC insurance.
Minimum deposit to open
$0
Minimum balance
$0
APY
1.5% APY to 4.00%, depending on your account tier
Novo Business Checking
Novo Business Checking is a no-frills account that doesn’t charge a monthly maintenance fee and doesn’t require a minimum deposit to open the account. It also offers unlimited fee-free transactions with no overdraft fee.
The account allows for easy integration with business tools like Stripe, Shopify, QuickBooks and Zero, which makes it easier for business owners to streamline business operations. It also allows businesses to create and send unlimited invoices through its free built-in invoicing software.
Novo doesn’t allow for cash deposits, but you can use the mobile app to deposit money orders and checks.
Minimum deposit to open
$0
Minimum balance
$0
APY
None
LendingClub Tailored Checking
The LendingClub Tailored Checking account offers a competitive APY on your balance and earns 1% cash back on qualifying debit card purchases if you have a balance of at least $500. Another big perk is that LendingClub offers unlimited transactions and unlimited third-party ATM fee reimbursements worldwide.
The account requires a low $100 minimum deposit, but there is no minimum balance requirement after that. There is a $10 monthly maintenance fee, but you can get it waived by maintaining a monthly balance of $500 or more.
Minimum deposit to open
$100
Minimum balance
$0
APY
0.10% to 1.50% APY, depending on your balance
Grasshopper Business Checking
The Grasshopper Business Checking account requires a modest $100 deposit to open the account, but has no minimum balance requirement after that. This account also doesn’t charge any monthly maintenance fees or overdraft fees.
Account holders can also earn interest for their balance through a tiered APY offering. You can earn 1.51% APY on balances of up to $24,999.99 and more than $250,000. Then, you’ll earn up to 2.25% APY on balances of $25,000 to $250,000.
Minimum deposit to open
$100
Minimum balance
$0
APY
1.51% to 2.25% APY, depending on your balance
EverBank Business Checking
EverBank offers several business checking accounts, including ones tailored to small businesses and non-profits. Its small business checking account earns a 0.50% APY on all balances and has no monthly management fees to worry about, but has a relatively high minimum deposit requirement of $1,500.
Customers can make fee-free withdrawals at over 100,000 Allpoint and MoneyPass ATMs in the U.S. All customers also get up to $15 in third-party ATM fees reimbursed each month, while accounts with a balance of at least $5,000 receive unlimited ATM fee reimbursement.
Other features include mobile check deposit and overdraft protection by linking a business money market account.
Minimum deposit to open
$1,500
Minimum balance
$0
APY
None
Found Banking
Found offers a free account with no overdraft or monthly maintenance fees and no minimum balance requirements. This makes it an affordable option for self-employed individuals. It allows some basic integrations to Quickbooks and Stripe to help you process payments and stay on top of your accounting.
For more advanced business tools, account holders can upgrade to a Found Plus account, which costs $19.99 per month or $149.99 per year.
The Found Plus account does offer a 30-day free trial so you can take it for a test run before deciding to commit. With Found Plus, you can also earn 1.5% APY on account balances of up to $20,000.
Minimum deposit to open
$0
Minimum balance
$0
APY
None for the free version; 1.5% APY for Found Plus
Axos Business Interest Checking
Axos Bank is an online bank that offers a range of consumer and business financial products, including checking accounts, savings accounts, CDs, mortgages, investment accounts and more.
As its name suggests, the Axos Business Interest Checking account earns interest, but the APY varies based on the balance. It has a low $100 minimum opening deposit, offers unlimited domestic ATM fee reimbursements and allows up to 60 items per month for remote deposit. It has a $10 monthly maintenance fee, but it can be waived with a $5,000 minimum average daily balance. It also offers a generous welcome bonus, but it has lofty balance requirements so it may not make sense for all businesses.
Minimum deposit to open
$100
Minimum balance
$0 (must keep a $5,000 minimum average daily balance to waive the maintenance fee)
APY
Up to 1.01% APY
FAQs
Can you open a business bank account online?
Business bank accounts can typically be opened online, in person by visiting a branch or over the phone. Some banks may only offer a combination of those options. For instance, an online-only bank may only allow new customers to open an account online or over the phone.
Can I open a business bank account online with only an Employer Identification Number (EIN)?
Your EIN is one of a few pieces of information you’ll need to open a bank account. You may need to provide additional information like your business registration, business address and even business website. Be sure to double-check the requirements of your desired bank before beginning the application process.
Are online business bank accounts safe?
As long as your online business bank is FDIC-insured (the standard is up to $250,000 for deposit accounts), online business bank accounts are generally as safe as brick-and-mortar banks.
Can I open a business bank account immediately?
Most business bank accounts should have you up and running in a matter of minutes. One of the best ways to ensure a speedy process is to come prepared with all the required documentation and double-check your information for inaccuracies before submitting your application.
How much money do you need to open a business bank account?
Many business bank accounts can be opened with no minimum deposit required. However, some banks do have a minimum deposit to open an account. It varies depending on the bank account you want to open so be sure to check the requirements of each account before applying.
Bottom line
You have many options if you’re in the market for an online business checking account. The top online business bank accounts stand out for offering features like low or no minimum deposits to open, interest on your money and rewards for debit card purchases.
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Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every business checking account review is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of business banking products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics. See our methodology for more information on how we choose the best online business bank accounts.
Our methodology
To determine which online business checking accounts are best, CNBC Select analyzed dozens of U.S. business checking accounts. We narrowed down our rankings by considering no-fee checking accounts or accounts with easy ways to waive the monthly maintenance fees.
We compared each checking account on a range of features, including:
- Fees
- Minimum balance requirement
- Mobile banking ease
- Small business tools and support
- Large ATM network
- Account accessibility
- Customer reviews, when available
All of the accounts included on this list are either members of the Federal Deposit Insurance Corporation (FDIC) or FDIC-insured through partner institutions. This insurance protects and reimburses you up to your balance and the legal limit in the event your bank or credit union fails.
The rates and fee structures for checking accounts are subject to change without notice and they often fluctuate in accordance with the prime rate.
Your earnings depend on any associated fees and the balance you have in your checking account. To open an account, some banks and institutions may require a deposit of new money, meaning you can’t transfer money you already had in an account at that bank.
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Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
