A dedicated business bank account separates your finances, protects your liability shield, and makes tax time painless. Here’s how the best options compare.
Quick answer: Bluevine is best overall (free, 2.0% APY, unlimited transactions). Relay is best for budgeting and cash flow management. Mercury is best for startups and tech businesses. Most small businesses should pay $0/month for business checking.
Best Business Checking Accounts Compared
| Bank | Monthly Fee | Min Balance | Free Transactions | APY | Best For |
|---|---|---|---|---|---|
| Bluevine | $0 | $0 | Unlimited | 2.0% (up to $250K) | Best overall |
| Relay | $0 | $0 | Unlimited | 1.0%–3.0% (savings) | Cash flow management |
| Mercury | $0 | $0 | Unlimited | Up to 4.0% (Treasury) | Startups/tech |
| Novo | $0 | $0 | Unlimited | 0% | Freelancers/integrations |
| Lili | $0 | $0 | Unlimited | 0% | Freelancers |
| Chase Business Complete | $15 | $2,000 to waive | 5,000/month | 0% | In-person banking |
| Bank of America Business | $16 | $5,000 to waive | 200/month | 0% | BoA ecosystem |
| Wells Fargo Initiate | $10 | $500 to waive | 100/month | 0% | Branch access |
| US Bank Silver | $0 | $0 | 125/month | 0% | Low-volume businesses |
What to Look For in a Business Account
| Feature | Why It Matters |
|---|---|
| No monthly fee | Saves $120–$200/year |
| No minimum balance | Important for seasonal businesses |
| Free transactions | Avoid per-transaction charges ($0.20–$0.50 each) |
| Integration with accounting software | Auto-sync with QuickBooks, Xero, Wave |
| Mobile deposit | Deposit checks from your phone |
| Sub-accounts | Separate funds for taxes, payroll, expenses |
| ACH transfers | Free electronic payments |
How to Open a Business Bank Account
| What You Need | Where to Get It |
|---|---|
| EIN (Employer Identification Number) | IRS.gov (free, instant) |
| Business formation documents | Articles of Organization/Incorporation |
| Operating agreement | Your LLC records |
| Government-issued photo ID | Driver’s license or passport |
| Business license (if applicable) | City/county clerk |
| Proof of business address | Utility bill, lease, or registered agent |
Recommended Account Setup for Small Business
| Account | Purpose | Where to Open |
|---|---|---|
| Business checking | Day-to-day transactions | Bluevine, Relay, or Mercury |
| Business savings (tax reserve) | Set aside 25–30% for taxes | Same bank or high-yield option |
| Business savings (emergency) | 3–6 months of expenses | Same bank |
| Business credit card | Build business credit, earn rewards | Chase Ink, Amex Blue Business |
Bottom Line
Most small businesses should use a free online business checking account like Bluevine, Relay, or Mercury. There’s no reason to pay monthly fees or deal with transaction limits in 2026. Open your account as soon as you form your LLC — it’s one of the first steps to keeping your business finances clean.
For more, see best accounting software, how to start an LLC, and quarterly tax payments.