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The 5 best business bank accounts with no fees in July 2025

  • Introduction
  • Are there business banking accounts with no monthly maintenance fees?
  • Hidden business banking fees to watch out for
  • 5 business banking accounts to consider with no monthly fees
  • What to look for in a business bank account
  • Why you should look for banking accounts with little or no fees
  • Online vs. in-person banking accounts
  • What documents do I need to open a business bank account?
  • Are your funds insured in a no-fee business account?
  • Make every dollar count for your business
  • Earn high yields while gaining control over cash flow

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Introduction

As a startup, every dollar is important. You're stretching runway, managing burn rate, and making strategic decisions about where to allocate capital. So why should you pay your bank monthly fees just to hold your money?

With the right business banking account, you don’t have to. Many modern business bank accounts offer zero monthly maintenance fees, allowing you to allocate your cash toward more strategic expenses. That said, there is a catch, as not all fee-free accounts are created equally. Some limit features, others hit you with hidden charges, and many lack the tools growing businesses actually need.

With 38% of startups failing because they run out of cash, according to CB Insights, it’s critical that your startup doesn’t burn cash unnecessarily. Every monthly maintenance fee, every hidden charge, and every transaction cost chips away at your runway.

The best business banking accounts with no fees help you conserve your capital while giving you the tools you need to grow your business. In this article, we'll walk you through what you need to know about finding the right banking account with no fees, along with the hidden fees to look for, and what features matter. Plus, we'll help you decide between online and traditional banking options and show you exactly what documents you'll need to get started.

Are there business banking accounts with no monthly maintenance fees?

There are bank accounts without monthly maintenance fees. These business accounts are becoming more common as online banking options increase and financial institutions compete for startup and small business customers.

Traditional banks may offer fee-free accounts with conditions, such as maintaining a minimum balance, completing a certain number of transactions, or linking other services. Online banks and fintech companies often provide unconditional free accounts, making money through interchange fees, premium services, or interest rate spreads instead.

While a business banking account may advertise itself as free, few truly are. Banks may waive monthly maintenance fees, but many still charge for wire transfers, excessive transactions, cash deposits, or international payments. Some limit the number of free transactions per month or charge for basic services like checkbooks or ACH payments.

Startups need to maximize all income, and these hidden costs can add up quickly. That's why it's worth looking beyond the monthly fee to understand the total cost of banking. The best free business accounts combine zero monthly fees with reasonable terms for the services you actually use.

Hidden business banking fees to watch out for

Hidden business banking fees can mean unexpected charges for your banking services. Here are some common fees that get lost in the fine print.

Transaction fees

Banks may offer a set number of free transactions monthly, then charge $0.40 to $0.65 per transaction after that. When you're processing customer payments, paying vendors, and moving money between accounts, these fees can add up quickly. And just beware. What starts as free or cheap can become a major expense as your startup's transaction volume grows.

Wire transfer fees

Domestic wires can cost $15 to $30, while international transfers run up to $60. If you're paying overseas contractors or suppliers regularly, these costs will become a significant expense. Some banks also charge fees to receive wires, which can be up to $15 or higher per incoming transfer.

Cash deposit fees

Many banks charge 0.2% to 0.3% for cash deposits over a monthly limit, and in some cases, for deposits as low as $5,000. For a retail business depositing $20,000 monthly, that can be an extra $60 in fees. Cash-heavy businesses like restaurants and service providers tend to feel this pressure the most.

ACH fees

While some banks include unlimited ACH transfers, others limit you to 20 free transfers monthly or charge $3 to $10 per batch. For businesses running payroll or collecting recurring payments, these limits can eat into your cash fast.

Overdraft and NSF fees

Overdraft fees range from $25 to $39 per occurrence, and banks can charge multiple fees per day. Non-sufficient funds (NSF) fees are similar, even when they decline the transaction. Some banks offer overdraft protection, but that service can carry its own monthly fee.

Monthly minimum balance fees

Missing your minimum balance requirement by even a dollar can cost you $50 or more each month. These minimums can range from $1,500 to $25,000 depending on the account type, tying up capital you could use to grow your business.

5 business banking accounts to consider with no monthly fees

1. Brex

Brex offers startups and enterprise businesses business banking accounts with no monthly maintenance fees, no fees for sending and receiving same-day ACH and wire payments, and no minimum balance requirements. With integrated checking*, treasury, and vault banking accounts from Brex, you can confidently manage cash flow and cash reserves while earning high returns on deposits.

Fee breakdown

  • ACH fees: $0
  • Domestic wire fees: $0
  • International wire fees: $0
  • Transaction fees: $0
  • Minimum balance fees: $0
  • Check fees: $0

Key benefits

  • Earn high returns with same-hour liquidity. Your cash reserves can earn high yields through money market funds while remaining fully accessible. Unlike traditional savings accounts that lock funds for days, Brex provides same-hour liquidity, so you can earn competitive returns without sacrificing access when opportunities arise.
  • FDIC insurance up to $6 million. Through partnerships with other banks, Brex extends FDIC coverage up to $6 million, far more than the standard $250,000 limit. This gives founders and CFOs peace of mind when managing large balances from fundraising rounds or maintaining substantial operating reserves.
  • Integrated corporate card platform. With Brex, you can manage your entire cash flow from one one platform, from employee reimbursements and expenses to cash reserves and vendor payments. Set spending controls, automate expense policies, and get real-time visibility into every dollar leaving your account.
  • Automate accounts payable. Brex bill pay eliminates manual payment processing, enabling businesses to automate invoice processing. With Brex, you can build custom approval workflows to match your internal controls, ensuring every payment gets proper authorization before funds leave your account. Pay vendors via ACH, wire, or check without transaction fees.
  • 24/7 customer support. Reach Brex support anytime via chat, email, phone, SMS, or WhatsApp directly from your dashboard. With 24/7 support, you can be sure that any issue you run into is resolved, regardless of the time of day or time zone you’re in.
  • Global payment capabilities. Send payments in over 60 local currencies and fund employee reimbursements in more than 60 countries with Brex. Brex is a top solution for distributed teams and international vendors, eliminating expensive foreign exchange markups and payment delays.

Who this business banking account is best suited for

The Brex business banking account is best for growing companies that need a banking solution that can scale with them. Brex provides a unified platform with business banking solutions designed for different financial needs. The checking account enables fee-free transactions, the treasury account delivers high returns with same-hour liquidity, and the vault account provides enhanced FDIC coverage for large balances. This integrated approach works particularly well for startups managing rapid growth, companies with investor funding, and businesses that want sophisticated financial tools without the complexity of managing multiple banking relationships.

2. Bank of America

Bank of America offers business checking with minimum fees through their Business Advantage Relationship Banking account when you maintain minimum balance requirements. As one of the largest traditional banks, they combine branch access with digital banking tools.

Fee breakdown

  • Outgoing domestic wire fees: $30
  • Incoming domestic wire fees: $0
  • Outgoing international wire fees: $45
  • Incoming international wire fees: $0
  • Overdraft item fee: $10 per item
  • Transaction fees: No fee for first 500 transactions, then $0.45 each
  • Minimum balance fees: $29.95 if monthly balance is less than $15,000

Key benefits

  • No monthly fees when minimum balances are maintained
  • 500 free transactions
  • Physical locations
  • Basic cash flow management

Who this business banking account is best suited for

Bank of America is best for established businesses with predictable cash flow that can maintain minimum balance requirements. Companies that need frequent branch access for cash deposits or in-person services will benefit from its extensive physical network.

3. U.S. Bank

U.S. Bank provides fee-free business checking through its Business Essentials account with no monthly maintenance fee and no minimum balance requirements. This digital-first account offers unlimited free transactions for most electronic banking needs, making it a flexible option from a traditional bank.

Fee breakdown

  • ACH fees: Up to $1 each
  • Domestic wire fees: $0
  • Outgoing international wire fees: $75
  • Incoming international wire fees: $16
  • Overdraft fees: $36
  • Paper statement fee: $10
  • Check scanner: $375
  • Mobile check deposits: $0.35
  • Transaction fees: Up to 3.5% and $0.30 per item
  • Check fees: $0.25 per check after first 50

Key benefits

  • No monthly maintenance fees
  • Unlimited free digital transactions
  • Basic cash flow management tools
  • Access to physical locations

Who this business banking account is best suited for

U.S. Bank Business Essentials works best for digitally focused small businesses that primarily use electronic transactions. It's ideal for service businesses, consultants, and online companies that rarely handle cash but need reliable payment processing and transfer capabilities.

4. Grasshopper

Grasshopper offers digital-first business banking accounts built specifically for startups and small businesses with no monthly fees, no minimum balance requirements, and high yields on cash reserves.

Fee breakdown

  • ACH fees: $0
  • Domestic wire fees: Outgoing fee of $10, incoming fee of $0
  • International wire fees: Outgoing fee of $25, incoming fee of $5
  • Minimum balance fees: N/A, $5 per month dormant account fee

Key benefits

  • Earn high yields on deposits over $25,000
  • No monthly maintenance fee
  • No ACH fees
  • FDIC insurance up to $250,000

Who this business banking account is best suited for

Grasshopper targets small businesses that value modern banking features with transparent pricing. It's best for businesses maintaining balances over $25,000 who want to earn good yields, but don’t mind earning less than industry-leading returns.

5. Found

Found is a digital banking platform designed for freelancers, independent contractors, and self-employed professionals. With integrated bookkeeping and tax tools, small business owners can access basic financial tools while paying no monthly maintenance fees.

Fee breakdown

  • ACH fees: $0
  • Domestic wire fees: $15 per outgoing wire transfer
  • Minimum balance fees: $0
  • Transaction fees: $0
  • Check fees: $1 per outgoing check

Key benefits

  • No monthly maintenance fees
  • Basic financial management tools
  • No fees to send and receive ACH payments
  • Send invoices at no cost

Who this business banking account is best suited for

Found is best for solopreneurs, freelancers, and independent contractors who need simplified financial management along with their business banking account. With Found, professionals can access banking, bookkeeping, and tax preparation in one place without managing multiple tools.

What to look for in a business bank account

Besides avoiding fees, the right business bank account should actively support your company's financial health. Here’s what to look for in a business bank account.

Higher yields

With the right business banking account, your cash reserves should work for you. Traditional business checking accounts offer near-zero interest, but some accounts now provide yields competitive with money market funds, while offering fast liquidity. Even a 2% difference in yield means an extra $2,000 annually on a $100,000 balance. For startups building cash reserves, that return helps bolster your runway.

Liquidity

You need immediate access to your money when opportunities or emergencies arise. Look for accounts offering same-day ACH transfers, instant internal transfers, and quick wire processing. Avoid accounts that lock funds for days or limit your withdrawal amounts. The best business banking accounts balance yield with same-hour liquidity.

FDIC insurance

Standard FDIC coverage protects up to $250,000 per depositor, per bank. Yet many modern banking services partner with multiple banks to extend coverage. For startups holding investor funds or maintaining large operating balances, this extended coverage provides critical protection without splitting funds and managing workflows across multiple institutions.

Reliable customer support

When payroll doesn't process on time or an important payment is flagged, you need immediate help. Look for providers offering dedicated support teams who understand business banking, not general customer service reps reading scripts. Priority phone lines, representatives who are available at every hour, and quick resolution times matter when your business is at a standstill and needs assistance.

Integration capabilities

Your bank account should connect seamlessly across your financial stack. Direct integrations with accounting software like QuickBooks or NetSuite save hours of manual expense reconciliation. API access enables custom workflows and automated reporting. The best accounts also integrate with expense management, bill pay, and accounting automation software, creating integrated financial operations that scale with your business.

Why you should look for banking accounts with little or no fees

We mentioned this above, but it's worth reiterating that hidden banking fees can quietly drain thousands of dollars from your business every year, making it important to use a banking account that charges as few fees as possible. A startup that's processing 500 monthly transactions, wire transfers, and regular ACH payments, can face traditional banking fees exceeding $500 per month. That's $6,000 annually that could be spent on strategic initiatives.

The impact can be significant for early-stage companies, especially when you're pre-revenue or bootstrapping. Those banking fees could instead cover your Slack and Zoom subscriptions, help acquire new customers with Google Ads, or fund another month of your financial management tools.

Banking accounts with no fees also simplify financial planning. Without variable transaction fees or surprise charges, you can accurately forecast expenses and allocate resources. Plus, paying vendors or collecting customer payments likely won’t be delayed since each transaction is free with a banking account with no fees. That means smoother cash flow management when every dollar counts for your business.

Keep in mind, just because you’re not paying fees doesn’t mean you’re getting a lesser bank account. Modern banking providers with limited fees often have more intuitive interfaces, higher yields, and more features than traditional banks charging monthly fees. In many cases, you don’t have to choose between cost and features.

Online vs. in-person banking accounts

The fee structure is a major differentiator when comparing online banking vs traditional banking options. In many cases, online banking is the more economical choice for startups.

Traditional banks typically charge monthly maintenance fees unless you maintain substantial minimum balances. They also charge for services like wire transfers and ACH payments, including both incoming and outgoing. While cash deposits might be free at branches, most other services cost significantly more than their digital counterparts.

Online banks flip this model, starting by charging zero monthly fees without minimum balance requirements and keeping operational costs low with fewer overhead costs. Wire transfers, ACH payments, and other transaction fees stay minimal, if there is any fee at all. The main tradeoff is that you won’t have a physical branch to visit if you have issues.

The real difference shows up in transaction volumes. Traditional banks often cap free transactions and charge for each additional one. Online business banking typically offers unlimited electronic transactions, recognizing that businesses need flexibility. International payments also cost less through online banks, with many offering substantially lower fees than traditional competitors.

For startups doing everything digitally, such as paying contractors via ACH, receiving wire payments, and managing expenses through corporate credit cards, online banking makes financial sense. You'll save thousands annually while getting better technology and integrations.

Traditional banks still make the most sense for cash-heavy businesses or those needing complex lending relationships. But for most startups, the fee savings and convenience of online banking outweigh the benefits of physical branch access.

What documents do I need to open a business bank account?

Opening a business bank account requires proving both your company’s legitimacy and your authority to act on its behalf. Depending on the bank and the documentation requirements, you may need:

  • Employer Identification Number (EIN)
  • Business formation documents (articles of incorporation, LLC operating agreement, partnership agreement)
  • Business license or registration with your state
  • Certificate of good standing from your secretary of state
  • Board resolution or meeting minutes authorizing the account
  • Personal identification for all owners with 25%+ ownership
  • Proof of business address (lease agreement, utility bill)
  • Initial deposit check
  • Business plan or financial projections

The process can take days or weeks, especially if your bank needs additional documentation or clarification. Some traditional banks even require all business owners to appear in person.

Are your funds insured in a no-fee business account?

Legitimate no-fee business accounts provide the same FDIC insurance as traditional bank accounts. The fee structure doesn't affect your protection, but what matters is whether the institution holding your funds has proper FDIC coverage.

Traditional banks typically provide standard FDIC insurance up to $250,000 per depositor, per institution. This coverage protects your business funds if the bank fails, regardless of whether you pay monthly fees. The insurance can cover checking accounts, savings accounts, and other deposit products, depending on the bank.

Many online banking accounts and fintechs offer more insurance. In many cases, these banking services partner with FDIC-insured institutions to hold customer funds. This partner bank model can increase your coverage by stretching deposits across multiple banks to protect more than the standard $250,000. For instance, Brex provides up to $6 million in FDIC insurance through its network of partner banks.

Always verify FDIC coverage before opening any business account. Check whether the provider is a bank itself or partners with banks, confirm the coverage limits, and understand how funds are protected.

Make every dollar count for your business

Finding the right business bank account can save your startup significant amounts of cash each year while providing the tools you need to grow. The best low-fee accounts eliminate monthly maintenance charges and don’t charge transaction fees, wire transfer costs, and other hidden expenses that drain your capital. Whether you choose a traditional bank with fee waivers or a modern digital banking platform, understanding the full fee structure and available features helps you make the smartest choice for your business.

For startups maximizing every dollar, the combination of zero fees, high yields on cash reserves, robust FDIC insurance, and integrations with your financial stack matters most. By choosing an account that aligns with your business operations, whether that's high transaction volumes, international payments, or integrated spend management software, you can focus on growth instead of managing banking costs.

Brex is the best option for businesses looking for business banking with no monthly maintenance fees. With Brex, there are no transaction fees or minimum balance fees, including zero fees for ACH transfers, wire transfers, and check payments. And with Brex, scaling businesses get a complete banking solution, including a checking account to send money with ease and automate the AP process, a vault account with $6 million in FDIC insurance, and a treasury account to earn high returns with same-hour liquidity.

The real advantage is that the Brex platform unifies business banking with a powerful corporate card, accounting automation software, and travel and expense management software. Instead of reconciling transactions across multiple platforms, everything flows through one system. Your team swipes their Brex cards, expenses automatically categorize and sync to your accounting software, and approvals happen in real time based on your custom rules.

Finance teams save hours on manual expense reconciliation and gain real-time visibility into spend. Founders can set company-wide spending limits that automatically enforce themselves, which means no more chasing business receipts or discovering unauthorized purchases months later.

Pricing for Brex starts at $0 per user per month, allowing founders and CFOs to gain visibility into and control over all cash flow without adding to their burn rate. By combining banking, corporate cards, accounting, and expense management in one platform, Brex transforms business banking from a necessary cost center into a strategic advantage that helps you move faster, maintain control, and make better financial decisions as you scale.

Dude Wipes, a flushable wipes startup, was able to consolidate its financial tools with Brex, streamlining accounting processes and gaining control over expenses. The ecommerce company could maximize cash flow by earning high yields on cash reserves while earning rewards on corporate card spending.

“We’ve been earning much higher yield with Brex. Now, we can grow our parked cash with same-hour liquidity,” said Lindsay Bodeman, VP of Finance and Accounting at Dude Wipes. “Plus, with $6 million in FDIC protection, we don’t have to worry about the doomsday scenario of a bank run.”

“Brex is more than just a credit card. They’re a first-party partner that’s ready and willing to scale with us as we scale,” Lindsay added.

Sign up for Brex today to get a low-fee business banking solution that scales with your business.

* Brex is a financial technology company, not a bank. The Brex business account consists of Checking, a commercial checking account provided by Column N.A., Member FDIC, and Treasury and Vault, cash management services provided by Brex Treasury LLC, Member FINRA/SIPC.

Earn high yields while gaining control over cash flow

Finding the right business banking account shapes your LLC's financial future. While traditional banks offer familiarity and branch access, modern businesses demand more, including integrated spend management software, competitive yields on cash reserves, and technology that grows with your venture.

For LLCs ready to move beyond basic banking, Brex stands out. Brex transforms how companies manage money by combining business banking, expense management software, bill pay, and global payments into one unified platform. Your treasury account earns competitive yields while maintaining same-hour liquidity. Six million dollars in FDIC insurance protects growing reserves. And your checking account helps ensure vendors are paid, with no fees.

Pangea, a contract-to-hire marketplace, is one startup that transformed its operations after switching to Brex. Before Brex, Pangea had disjointed banking accounts and limited control over cash flow, Pangea co-founder Adam Alpert said. Brex changed that.

“For us, we focus on consolidating as opposed to introducing new tools. So we brought all of our checking and money market accounts over to a Brex business account. It's a lot easier for me to keep everything in one place,” Adam said. “The entire Brex platform brings us so much value, and it’s easier to manage the day-to-day. Brex helps me stay in founder mode, so we can continue to build without constantly worrying about our finances.”

Sign up for Brex today to add a banking account to your financial stack that helps your business grow.

* Brex is a financial technology company, not a bank. Checking accounts and banking services provided by Column N.A., Member FDIC.

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