The best banks for business accounts in July 2025

Knowing what to look for in a business bank account requires careful consideration of your company's unique needs and future goals. The following factors will help guide your decision-making process and ensure you select a banking partner that supports your business’s growth rather than limiting it.

Assess your business needs

Start by evaluating how your startup or small business operates. Consider questions like these: Do you handle cash regularly? How many transactions happen each month? How many bank accounts should a business have to properly separate different revenue streams or expenses? Identifying your needs helps narrow down the type of bank that will serve you best.

A cash-heavy local business may lean toward a traditional bank with branches for daily deposits and withdrawals. Meanwhile, an online consulting firm could thrive with a digital bank that offers superior remote features and lower fees. Your operational style should drive your banking choice, not the other way around.

Compare fees and minimums

Looking closely at business banking fees, minimum balance requirements, and transaction limits can save your business thousands annually. Small businesses operating on tight budgets should seek accounts with low or no monthly fees, or at least easy ways to waive them.

If a bank requires a high minimum balance to avoid fees, ensure your cash flow can consistently support that requirement. Transaction limits deserve equal scrutiny. An account offering only 100 free transactions might seem adequate until you realize you process 150 monthly. Those extra 50 transactions could cost $25 or more each month. A banking account with unlimited transactions would eliminate this expense entirely.

Feature requirements

Match bank features to your specific operational needs. Different businesses require different tools, so prioritize what matters most to your workflows and operations.

If you want to earn interest on deposits, look for accounts offering high APY rates or competitive returns on idle cash. Some banks offer a cash management account that combines checking features with higher yields typically found in savings accounts. Software integrations matter for businesses wanting automated finances. Fintech options often provide open APIs and sync seamlessly with accounting tools, saving hours of manual work.

International payments present another consideration. Businesses dealing with overseas suppliers or clients need banks that support low-cost international wires. Some modern banks offer free USD international wires, which could save hundreds monthly for globally focused companies.

Mobile banking quality varies between institutions. If you're constantly traveling or managing finances on the go, you’ll want to research user reviews of each bank's mobile app for reliability and feature depth. A poorly designed app can turn simple tasks into frustrating ordeals.

Access and convenience

Decide whether having a branch nearby adds value to your business operations. Traditional banks let you visit for personalized help, which proves reassuring when issues arise or you need services like notarization or medallion signatures. Physical locations also facilitate cash deposits and complex transactions that digital banks can't handle.

However, if you rarely need branch services, online banks offer unmatched convenience. The best online business bank account providers give you 24/7 access from anywhere, often with better customer service response times than traditional banks. The tradeoff between physical presence and digital convenience depends entirely on your business model and personal preferences.

Scalability

Choose an account that can grow alongside your business. Consider each bank's broader product offerings. Will you need a high limit business credit card or a big loan within the next year? Traditional banks can provide these under one relationship, often with loyalty benefits for existing customers.

Some fintech banks don't offer lending products, meaning you'd need to establish separate relationships for credit needs. Examine account tiers within each bank as well. As your business grows and transaction volumes increase, can you upgrade seamlessly to a higher-tier account without needing to switch business bank account providers? The right bank should support your business at every stage, from startup to established company.

Customer service

Factor in the level of support you expect to need. First-time entrepreneurs often benefit from banks with dedicated small-business support teams and strong customer service reputations. The learning curve of business finance becomes less steep with knowledgeable advisors available to guide you.

Online banks typically offer responsive support via chat and email, with many providing 24/7 availability. Some business owners, however, prefer picking up the phone or visiting a branch for complex issues. Consider which communication style will keep you most comfortable and confident in managing your finances. The best customer service matches your preferred interaction method while providing expertise when you need it most.

Your ideal business bank account is at the intersection of your operational needs, growth plans, and personal preferences. Taking time to evaluate these factors before choosing ensures your banking relationship supports rather than hinders your business success.

1. Brex

Brex stands apart from traditional banking by offering a business banking platform designed specifically for startups and high-growth companies. While Brex itself isn't a bank (your funds are held with partner banks), it provides business banking accounts and corporate cards through a modern, technology-first approach that resonates with innovative companies.

Key features

• No fees and high yields. Brex charges no monthly fees, requires no minimum balance, and often allows unlimited free transactions, including ACH transfers, wires, and checks. Your idle cash can earn high interest rates through a Treasury account, which sweeps cash into a money market fund.
• Industry-leading yield. Brex offers competitive yields without traditional banking constraints. Businesses can access their funds with same-hour liquidity and no minimum balance requirements while earning returns on their deposits from day one. This ability to improve business cash flow reflects a modern approach to corporate banking, integrating traditional financial services with current technology.
• Corporate card with rewards. Every Brex account includes access to corporate credit cards featuring an impressive corporate card rewards program. Earn 7x points on rideshare services, 4x on travel, and 3x on restaurants. Points convert to cash back, travel rewards, and things like billboards and team offsites, adding real value for businesses with significant operating expenses.
• Software integrations. The platform includes built-in expense management tools that set spending limits, automatically match receipts to transactions, and integrate with accounting applications. Tech companies particularly appreciate Brex's API access for custom integrations and automated banking tasks.
• High FDIC insurance. Brex provides up to $6 million in FDIC coverage for uninvested funds through its partner banks, far exceeding the standard $250,000 limit. This extra protection helps companies holding substantial cash reserves protect more of their money.
• 24/7 support. While most fintech platforms tout their user-friendly interfaces, Brex complements its digital banking services with round-the-clock human support through multiple channels. Account assistance is accessible through live chat, phone, email, and WhatsApp, providing continuous support access across different communication methods.
• Security and fraud prevention. Brex’s AI-driven security infrastructure continuously monitors transactions, providing protection that goes beyond traditional fraud detection. While Mastercard ID Theft Protection™ offers a familiar safety net, it's the detailed control over spending, down to specific merchants and transaction types, that gives financial leaders the oversight typically found in enterprise solutions.

Fees

• Monthly and transaction fees. Brex charges zero monthly maintenance fees and no fees for standard transactions. ACH transfers, domestic wires, and international wires from Brex are also free, though receiving banks may charge for incoming international transfers.
• ATM and cash fees. Brex doesn't support ATM withdrawals or cash deposits. Since the platform is entirely digital with no branch or ATM access, businesses handling physical cash need alternative solutions.
• Other common fees. No minimum opening deposit or balance requirements. Overdrafts aren't allowed, so declined transactions replace overdraft fees.

Benefits

• No-fee banking. Access a free business account fast with no monthly charges or transaction fees, potentially saving startups thousands annually.
• Unlimited transactions. Process unlimited ACH transfers, wires, and deposits without hidden costs, supporting high-volume business operations.
• High-yield options. Ability to earn interest on idle funds by investing in a money market fund through the account, with yields often significantly higher than typical checking interest rates.
• Outstanding rewards card. The integrated corporate card delivers valuable rewards without personal guarantees, ideal for maximizing returns on business spending.
• Tech-friendly tools. Advanced features like API access, spend management software, and seamless app integrations are perfect for automating finances.

Drawbacks

• Limited eligibility. Only available to venture-backed businesses or those meeting specific criteria. Sole proprietors and many small businesses won't qualify.
• No cash handling. Zero support for cash deposits or ATM withdrawals makes Brex impractical as a sole banking solution for cash-dependent businesses.
• No branch access. Online-only platform means no physical locations or in-person service, though 24/7 digital support partially compensates for this limitation.

Who it's best for

For fast-growing companies, Brex delivers something traditional banks often can't match. The platform combines a checking account, corporate card, and expense management software in one seamless interface. What makes this particularly attractive for fast-growing companies? Brex offers high credit limits without requiring personal guarantees on its corporate card, a major relief for founders who want to protect their personal assets. The platform also integrates smoothly with QuickBooks, Xero, and other financial software that tech-savvy companies already use.

2. Chase

Chase stands as one of the largest national banks in the U.S., providing business banking services that balance physical presence with digital innovation. The Business Complete Banking℠ account brings together the convenience of branch banking with advanced mobile tools and access to diverse financing products. This combination makes Chase a reliable partner for businesses that value face-to-face service alongside modern banking features.

Key features

• Extensive physical presence. Access 4,700+ branches and 16,000+ ATMs across the U.S. for in-person banking and cash management.
• QuickAccept® integration. Accept card payments directly through your mobile device with same-day deposits to your Chase account.
• Digital banking capabilities. The Chase mobile app supports check deposits, real-time alerts, and instant transfers between accounts.
• Wide product ecosystem. Access business loans, credit cards, and merchant services under one unified relationship.

Fees

• Monthly fee. $15 per month, waived with $2,000 daily balance, Chase credit card activity, or QuickAccept deposits.
• Transaction fees. Unlimited electronic transactions included; first 20 paper transactions free monthly, then $0.40 each.
• Cash deposit fees. First $5,000 in monthly cash deposits free; $2.50 per $1,000 thereafter.
• Wire transfer fees. Domestic wires cost $15-$25; international wires cost $40 or more.
• ATM fees. $3 for out-of-network ATM use, plus any operator fees.

Benefits

• In-person service and large ATM network. Ideal for local businesses needing regular branch access and cash handling.
• Full product suite. Supports business growth with integrated lending, merchant services, and credit products.
• Waivable fees. Simple balance or activity thresholds make it easy to avoid monthly charges.

Drawbacks

• Monthly fees and transaction limits. Costs can accumulate for smaller businesses that don’t meet waiver requirements.
• No interest on checking. Standard accounts earn no interest without upgrading to premium options.
• Limited branch hours. Access restricted outside normal business hours, unlike 24/7 digital alternatives.

Who it's best for

Chase works best for small businesses that need a local banking partner, regularly handle cash, or want to build long-term lending relationships. Companies seeking both physical branch access and digital tools will find Chase offers a reliable foundation for growth. The bank particularly suits established businesses ready to leverage multiple financial products through one institution.

3. Bank of America

Bank of America combines traditional banking with modern features designed for growing small businesses. The Business Advantage Fundamentals™ account stands out with generous transaction limits and nationwide reach, while the Preferred Rewards for Business program adds perks for customers maintaining higher balances.

Key features

• 200 free transactions per month. Accommodates higher-volume businesses without triggering additional fees.
• $7,500 monthly cash deposit limit. Supports businesses managing significant in-person cash payments.
• Preferred Rewards program. Unlock loan discounts, bonus card rewards, and waived fees based on relationship balances.
• Strong digital platform. Mobile app includes budgeting tools, Zelle for Business, and AI-based insights via Erica®.

Fees

• Monthly fee. $16 per month, waived with $5,000 average balance or $250+ in monthly card purchases.
• Transaction fees. $0.45 per transaction after exceeding the 200 monthly limit.
• Cash deposit fees. $0.30 per $100 in cash deposits after $7,500 per month.
• Wire transfer fees. Domestic wires cost $15-$30; international cost $45 or more.
• Opening deposit. $100 minimum required to open an account.

Benefits

• Higher transaction and cash limits. More generous allowances than most traditional banks offer.
• Strong rewards program. Growing businesses benefit from relationship perks and discounts.
• Access to full-service banking. Complete lending and financial product suite available.

Drawbacks

• Higher fee thresholds. Balance requirements may prove challenging for new businesses.
• Fewer fee-free perks. Can't match fintech banks' no-fee structures.
• Regional variation. Service quality and fee structures may differ by location.

Who it's best for

Bank of America suits established or fast-growing businesses that regularly exceed basic transaction volumes. Companies anticipating credit needs or wanting to maximize banking relationship rewards will find value in BofA's infrastructure and loyalty programs. The bank works particularly well for businesses ready to leverage multiple financial products while maintaining higher account balances.

4. Found

Found takes a different approach to business banking by building a mobile-first platform specifically for self-employed individuals, freelancers, and small business owners. Rather than just offering a bank account, Found integrates tax tracking and invoicing directly into the banking experience, creating a lightweight financial management hub that simplifies solo entrepreneurship.

Key features

• Automatic tax tools. Real-time tax calculation and auto-saving ensure readiness for quarterly payments.
• Built-in invoicing. Send, track, and manage invoices directly from your Found account.
• Spending insights and write-off tracking. Categorize transactions and identify deductible expenses easily.
• Mobile-first experience. Full banking functionality through an intuitive mobile app with instant alerts.

Fees

• Monthly fees. No maintenance fees or minimum balance requirements on basic plan.
• Transaction fees. Free ACH transfers and incoming wires included.
• ATM fees. Free withdrawals via Allpoint network; out-of-network fees apply.
• Cash and check deposits. Not supported on the platform.
• Found Plus plan. Optional upgrade at $19.99/month includes recurring invoices and custom bookkeeping reports.

Benefits

• Ideal for freelancers. Built-in tax and invoicing features address solo entrepreneur needs.
• Simple interface. Intuitive design makes financial management easy on the go.
• No hidden fees. Transparent pricing with no minimums on the free plan.

Drawbacks

• No multi-user access. Limited team features or role management capabilities.
• Limited scalability. Not suitable for larger businesses with complex needs.
• No check or cash deposits. Digital-only approach excludes some payment methods.

Who it's best for

Found works best for solo entrepreneurs, gig workers, and service-based small businesses wanting integrated banking and tax tools without complex accounting systems. Freelancers who dread tax season will particularly appreciate the automatic quarterly tax calculations and savings features. The platform suits those prioritizing simplicity and mobile convenience over traditional banking features.

5. Relay

Relay reimagines business banking for modern small businesses and startups that prioritize visibility and control over their finances. Operating through FDIC-insured partner banks, Relay enables teams to manage multiple checking accounts, assign granular user permissions, and automate financial workflows, all without monthly fees or balance requirements.

Key features

• Multiple checking accounts. Open up to 20 individual accounts for expense tracking, budgeting, or payroll separation.
• Team and accountant access. Assign customized permissions for employees, bookkeepers, and external advisors.
• Built-in bill pay automation. Schedule and pay bills via ACH, check, or wire through the Relay dashboard.
• Seamless integrations. Syncs with QuickBooks Online and Xero for automated bookkeeping and expense categorization.

Fees

• Monthly fees. No maintenance fees, minimum balance requirements, or overdraft fees.
• Transaction fees. Free domestic ACH transfers; small flat fee for international wires.
• Check services. Up to 50 free checks monthly via Relay's check mailing service.
• ATM access. Free withdrawals through Allpoint ATM network nationwide.
• Wire transfers. No fees for incoming wires; $5 for outgoing domestic wires.

Benefits

• Granular financial control. Account structure and permissions support teams and scaling operations.
• Completely free banking. No hidden fees or balance requirements whatsoever.
• Advanced automation. Bill pay and bookkeeping integrations simplify cash flow management.

Drawbacks

• No physical branches. Lacks in-person support options entirely.
• Cash deposits unsupported. Impractical for businesses handling physical cash.
• Limited international services. International wire capabilities remain restricted.

Who it's best for

Relay serves startups, ecommerce companies, and small teams seeking financial control, automation, and transparency. Business owners working with virtual teams or external accountants will particularly value the real-time visibility and permission controls. The platform excels for digitally focused businesses that want sophisticated financial organization without the complexity or cost of traditional banking.

If you're wondering why open a business bank account, the advantages include critical legal protections, streamlined operations, and access to growth opportunities that personal accounts simply can't provide. These benefits can transform how you manage finances, protect your assets, and position your business for sustainable growth.

Build business credit history

A business bank account serves as the foundation for establishing commercial credit separate from your personal credit score. Banks and credit bureaus track your business banking activity, payment patterns, and account management to create a commercial credit profile and establish your business credit score. This history becomes invaluable when applying for business credit cards, equipment financing, or working capital loans. Strong business credit can unlock better interest rates and higher credit limits while keeping these obligations off your personal credit report.

Simplify tax preparation and accounting

Dedicated business accounts transform tax season from a dreaded marathon into a manageable task. Every transaction flows through one account, making it simple to track income, expenses, and deductions. Your accountant can quickly categorize transactions and generate financial statements without sorting through personal purchases. Many business accounts also integrate directly with accounting software, automatically syncing transactions and saving hours of manual data entry each month.

Accept multiple payment methods

Business accounts enable you to accept payments in ways personal accounts cannot. You can process credit cards, set up recurring ACH payments, and accept wire transfers from corporate clients. Many banks offer integrated payment processing solutions with competitive rates for business account holders. This flexibility in payment acceptance can increase sales by accommodating customer preferences and making it easier for clients to pay you promptly.

Access to specialized financial tools

Business banking relationships open doors to financial tools designed specifically for commercial needs. These include cash management solutions, automated payroll processing, and advanced fraud protection features. Many banks offer business account holders exclusive access to lines of credit, equipment loans, and SBA lending programs. You'll also gain access to dedicated business banking advisors who can provide guidance on financial strategies and connect you with other business services like merchant processing or international banking solutions.

It's generally not recommended to use a personal account for business finances. While sole proprietors and new business owners might view this as a convenient shortcut, mixing personal and business funds creates significant problems. The complications far outweigh any perceived convenience of using a single account.

Keeping finances separate serves critical legal and tax purposes. Mixing personal and business transactions makes bookkeeping difficult and tax reporting unnecessarily complex. For LLCs and corporations, this commingling risks "piercing the corporate veil," potentially making you personally liable for business debts. Courts may view mixed finances as evidence that your business isn't truly separate from you personally.

Most banks explicitly forbid using personal accounts for business transactions in their terms of service. If your bank detects business activity on a personal account, the bank could freeze or close it without warning. This sudden account closure could disrupt your operations. Business accounts are specifically designed to handle commercial activity with appropriate transaction limits and features.

Using a business account also enhances your professional image and solves practical problems. Vendors and clients take you more seriously when payments come from an account bearing your business name. More importantly, customers often write checks to your business entity rather than to you personally. Without a business account, you can't deposit these checks, potentially losing sales and damaging client relationships.

Business accounts unlock essential services and position your company for growth. These include merchant services, payroll integrations, and higher cash deposit limits that personal accounts don't offer. Building a business banking history also proves invaluable when seeking loans or credit lines. Banks want to see established commercial relationships and clear business cash flow, not personal transactions mixed with business activity.

Yes, many of the best business bank accounts are now online-only, and they're safe to use provided you choose reputable providers. Digital banking has matured significantly, with security measures and regulatory protections matching or exceeding traditional institutions. Most online business accounts enjoy the same FDIC protection as traditional banks, with providers like Brex's partner banks offering insurance up to $250,000 per depositor, per bank. Through sweep programs that distribute funds across partner bank networks, companies like Brex can insure deposits well into the millions, delivering protection that surpasses what most traditional banks offer their business clients.

Even when the fintech company itself isn't a bank, they operate through partnerships with chartered institutions. Brex checking accounts, for example, are held with Column N.A., Member FDIC, which faces the same regulatory oversight as any traditional bank. Always verify which bank backs your online account and confirm its FDIC insurance status through the provider's website or documentation. This regulatory framework ensures your money remains protected whether you bank online or at a branch.

Online banks employ strong encryption, two-factor authentication, and sophisticated cybersecurity measures matching those of traditional banks. Users should strengthen security by using unique passwords and enabling two-factor authentication whenever available. Reputable online banks also provide clear support channels and fraud monitoring to help resolve any issues that arise. Most offer 24/7 support through chat, phone, or email, compensating for the lack of physical branches with increased availability.

The main consideration with online-only banks involves service availability rather than safety. Internet outages or platform downtime can temporarily limit access, though these situations remain rare. Cash deposits present another challenge since online banks can't accept physical currency. Businesses handling significant cash may need a secondary account with a traditional bank for these transactions.

Overall, online business accounts from well-known providers offer security comparable to traditional bank accounts. Millions of businesses successfully use online banking, benefiting from lower fees, better technology, and often superior customer service. Always verify FDIC insurance coverage and research user reviews before committing. The combination of federal protection, strong security measures, and established regulatory oversight makes online business banking a safe choice for most companies.

Choosing the right business bank account can significantly impact your company's financial health and operational efficiency. From traditional banks offering branch access and established lending relationships to innovative fintech platforms providing fee-free banking and advanced automation, each option serves different business needs. The key lies in matching your specific requirements, whether that's cash handling, transaction volume, international payments, or software integrations, with the bank that best supports those activities.

As we've explored, the decision extends beyond just comparing fees and features. Consider how your banking choice will scale with your business, what level of customer support you'll need, and whether physical branch access adds value to your operations. Remember that using a dedicated business account isn't just recommended; it's essential for maintaining legal protections, simplifying taxes, building commercial credit, and projecting professionalism to clients and vendors.

For startups and tech-forward businesses seeking a modern banking solution, Brex emerges as a particularly compelling choice. With zero monthly fees, unlimited transactions, and up to $6 million in FDIC insurance, Brex eliminates the traditional banking headaches that drain time and money from growing companies. The platform's seamless integration with accounting software, powerful expense management tools, and rewarding corporate card program (with no personal guarantee required) make it ideal for businesses that prioritize efficiency and growth over branch visits.

Take control of your business finances today by signing up for a Brex business account in minutes and discover why thousands of startups trust their banking to a platform built specifically for their success.