Best Free Business Checking Accounts Of May 2024

nbkc Bank’s The Business Account has almost no fees, making it ideal for business owners who want to keep costs down with a simple, functional account. This account has no monthly fee or minimum balance requirement, plus no overdraft, insufficient funds, dormant account or incoming domestic wire fees.

With this free business checking account, customers get online banking, bill pay and mobile and in-person check deposits at no cost. Plus, users have access to nbkc’s Business Solutions benefits, which include ACH credits and debits, desktop deposits, disbursement tools and fraud tools.

nbkc Bank branches are limited to the Kansas City area, but online banking makes the account accessible to business owners in any location. nbkc Bank uses the MoneyPass ATM network in addition to its own ATMs, plus it pays up to $12 per month in out-of-network ATM reimbursements.

Read our full nbkc Bank review.

NBKC Bank offers a single mobile app for both business and personal banking. The account offers surcharge-free ATM access at over 37,000 MoneyPass ATMs. Suppose you need to use an out-of-network ATM that charges a fee; NBKC refunds up to $12 per statement period. In addition to a free business checking account, NBKC Bank offers business savings deposit accounts—both money market accounts and certificates of deposit (CDs)—business loans and lines of credit, and business solutions including cash management, fraud management, collections and disbursement services.

The NBKC Bank Business Checking Account does not have active sign-up or referral bonuses at this time.

Relay’s Business Checking is a robust account with several useful tools and features for business owners running a team. With access to up to 20 checking accounts and 50 debit cards, you can easily manage and organize your business’s spending.

This account has eight different tiers based on transaction history and volume. Your tier, designated by nbkc, is used to determine your daily and monthly transaction, transfer and withdrawal limits. There’s a $0 maintenance fee for standard accounts and a $30 monthly fee for Pro accounts, which offer upgraded features like same-day ACH payments, free outgoing wires and more customizable bill pay features. There are no minimum deposit or balance requirements.

This account shines when it comes to business tools and integrations. You can receive deposits from various payment processors, automate transfers between your accounts and send payments via ACH, wires and checks. Plus, Relay’s app automatically categorizes your team’s spending.

Relay Business Checking also integrates with accounting and payroll tools like QuickBooks, Xero, Gusto, Venmo, Plaid and more.

As a digital account, Relay Business Checking uses the Allpoint ATM network for cash deposits and withdrawals.

This account doesn’t earn interest. Fees are charged for VIP accounts, wire transfers and foreign transactions. This checking account has eight tiers based on transaction history and volume. Limits on deposits and withdrawals depend on your account’s tier.

Mercury’s Checking account—with its $5 million insurance limit through their partner banks Choice Financial and Evolve Bank & Trust, Members FDIC and their sweep networks, API access and free USD international wires — is designed for startups. This account allows business owners to set controls, limits and permissions on up to 15 checking accounts and automate transfers between them. Plus, it has hardly any fees to speak of.

Additional business tools let you make one-time or recurring payments with ACH, wires and checks. You can also simplify paying bills with Mercury’s drag-and-drop Bill Pay tool and integrate your account with QuickBooks or Xero. Account holders gain access to discounts on additional business tools too. However, you can’t make cash deposits into this account, and customer service is primarily limited to email.

Users with account balances of at least $500,000 can increase their earnings with Mercury Treasury, an automated cash management account that invests your surplus cash, earning up to 5.48% annually.

This account doesn’t earn interest. The only fees charged by this account are for the following advanced features: mass payments on Mercury API, Mercury Treasury account management, currency exchange and sending U.S. dollars internationally with premium processing.

Axos Bank’s Basic Business Checking account doesn’t have monthly fees or minimum deposit requirements, nor does it skimp out on perks. This account comes with 50 free checks, unlimited item processing, unlimited domestic ATM reimbursements, 60 free remote deposits and two reimbursements on domestic wires each month. Plus, Axos sometimes runs business bank account promotions that offer new account holders the chance to earn a cash bonus.

In addition to this checking account, Axos offers personal banking and business banking products and services—like business savings, loans, payroll and merchant services. Though Axos is a digital bank, customers can transact fee-free at roughly 91,000 ATM locations.

Read our full Axos Bank Review.

Axos Basic Business Checking has no opening deposit requirement, monthly maintenance fee or minimum balance requirement. Also, your first set of 50 checks is complimentary. The account provides unlimited reimbursements for domestic ATM fees. Dedicated banking relationship managers are available Monday through Friday. There is no limit to the number of transactions—debits, credits or deposited items—that can be processed each month. You also get two reimbursed domestic wires per month. This account charges fees for paper statements, checks, and outgoing wire transfers. Axos also offers business savings accounts, a business money market account, a nonprofit money market account, business CDs and loans. Merchant services are provided through a partnership with Celero Merchant Solutions. Payroll services are provided through a partnership with Roll by ADP.

Axos offers a cash bonus of up to $400 when opening an account and meeting certain requirements by June 30, 2024, using offer code NEW400. To qualify, you must make a deposit within 30 days of opening your new account, and your balance will be used to determine the amount of your bonus. To earn $400, which is paid as $100 for up to four statement cycles, you will need to have an average balance above $50,000 in your new account, a minimum of 10 POS transactions of at least $3 each posted to your account each month and bill pay set up for your account. You need to submit an application by June 30, 2024 to qualify.

Business owners who are also interested in opening a personal checking account can qualify for a bonus of up to $700 when they open a business checking account and a high-yield Rewards Checking account at the same time. To qualify for this bonus, you will use the code AXOS700 to apply for both accounts by June 30, 2024. Then, you must meet individual bonus requirements for each account.

We picked the First Internet Bank Do More Business Checking account because it earns interest, which is unusual for business checking. The account pays up to 0.50% APY on average daily balances of at least $10,000, in addition to having no monthly fees or minimums. The only balance requirement is for earning interest, not for opening or keeping the account, and Do More Business Checking also offers unlimited free transactions.

Though 0.50% APY is decent and certainly better than no interest at all, this checking account is best paired with a First Internet Bank Business Money Market Savings or Business Regular Savings account. All three can be used with the bank’s Balance Optimizer tool, which automatically transfers funds between checking and savings so you always have what you need to spend and earn the best rate possible on the extra.

Read our full First Internet Bank review.

Interest for this account is compounded and credited monthly on the last day of each month. The Do More Business Checking account has no minimum deposit, balance or monthly maintenance fee. Regardless of your balance, you will be reimbursed up to $10 per month in ATM fees. First Internet Bank also offers several business deposit accounts, including a savings account, money market account and CDs.

The First Internet Bank Do More Business Checking account does not have active sign-up or referral bonuses at this time.