Start Saving Big on Business Banking Today: Top October 2024 Deals
Ad Disclosure: This article contains references to products from our partners. We may receive compensation if you apply or shop through links in our content. This compensation may impact how and where products appear on this site. You help support CreditDonkey by using our links.
Compare business checking accounts to find your match.
PRO TIP: The best all-around business checking account is with North One. It has no monthly fees, plus a comprehensive suite of tools to help you run your business efficiently. Find out more
North One Free Business Banking
- Business banking for teams
- Automatic invoice ingestion and payments
- Sales and revenue analytics
- Unlimited account envelopes
- Close to 100 integrations
- Over $5000 in perks for new customers
- No monthly fees, no application fees, no minimum balance
North One is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, Member FDIC.
Business Checking Account - $400 Bonus
- Earn $400 when you open a new small business checking account and complete qualifying activities.
- Choose between:
- Truist Simple Business Checking—Perfect if you're just starting out or have low transaction volume.
- Truist Dynamic Business Checking—With more perks as your balances grow—and a true, local partnership.
- New business checking clients only
- From October 1st, 2024 – March 31st 2025
Chase Business Complete Banking® - $300 Bonus
- Earn $300 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities.
- Multiple ways to waive the $15 Monthly Service Fee, including maintaining a minimum daily balance or purchases on your Chase Ink® Business credit card.
- Full-service business banking. Convenient access to all your business banking services in one place -- lending, checking, credit card and payment solutions.
- Your choice of payment types. Choose from a full range of options for accepting payments and making deposits that include Zelle®, Online Bill Pay, wire transfers and ACH payments.
- Convenient access to payment processing. Process all major debit and credit cards with QuickAccept®. It's a built-in feature with your Business Complete Checking account.
- Get support you can rely on. Get access to our customer support team, plus a wide array of solutions that carter to every stage of your business
- Full-featured banking online and on-the-go. Manage your business' finances on your terms with the latest online and mobile banking technology.
- Associate Debit and Employee Deposit Cards available upon request
Bank of America® Business Advantage Banking Checking Account - $200 Bonus Offer
- The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new eligible business checking customers only.
- Offer expires 12/31/2024.
- To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30) days of account opening.
- Maintain an average balance of $5,000 in that new Business Advantage Banking account during the Maintenance Period**.
- Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- *New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or
Merrill investment accounts.
- ** The Maintenance Period begins thirty-one (31) calendar days after account opening and ends ninety (90) calendar days after account opening.
- Bank of America, N.A. Member FDIC
Silver Business Checking account - $400 Bonus
Promo code Q4AFL24 MUST be used when opening a U.S. Bank Silver, Platinum, or Business Essentials (Available in AZ, NV, CO, NM, OH, IN, KY and TN) Business Checking account. Limit of one Business Checking bonus per business. A $100 minimum deposit is required to open one of the referenced accounts.
Earn your $400 Business Checking bonus by opening a new U.S. Bank Silver Business Checking or Business Essentials (not available in all markets) account between 10/1/2024 and 1/15/2025. You must make deposit(s) of at least $5,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $5,000 until the 60th day after account opening.
New money is considered money that is new to U.S. Bank. Funds must come from outside U.S Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. Checking account fees (e.g., monthly maintenance, paper statement fee, etc.) could reduce the qualifying daily balance, therefore you must make deposit(s) to cover the fees to maintain the daily balance during the qualifying period to be awarded the bonus. Refer to the Business Pricing Information or Business Essentials® Pricing Information Document for a list of fees.
The business checking bonus will be deposited into your new eligible U.S. Bank Business Checking account within 30 days following the last calendar day of the month you complete all of the offer requirements, as long as the account is open and has a positive available balance.
Offer may not be combined with any other business checking account bonus offers. Existing customers (businesses) with a business checking account or customers (businesses) who had an account in the last 12 months, do not qualify.
All regular account-opening procedures apply. For a comprehensive list of checking account pricing, terms and policies, reference your Business Pricing Information or Business Essentials® Pricing Information and YDAA disclosure. This document can be obtained by contacting a U.S. Bank branch or calling 800.872.2657.
Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice. Member FDIC.
Free Business Checking - Earn $300 Bonus
To earn the $300 bonus, customers must apply for a Bluevine Business Checking account anytime between now and 12/31/2024 using the referral code CD300.
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 OR
- Make at least $5,000 of outbound payroll payments from your Bluevine account using eligible payroll providers OR
- Spend at least $2,000 with your Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®
Banking services provided by Coastal Community Bank, Member FDIC
Spend $1500 with your Novo card within 90 days, and get $75
- $0 monthly service fee
- $50 deposit to unlock all features
- ATM fee refunds up to $7 per month
Basic Business Checking - Up to $400 Bonus
- Business owners get up to $400 welcome bonus!*
- Open a business checking account by October 31 and get up to $400 when you use promo code NEW400 on your application.*
- No initial deposit requirement
- No minimum balance requirement
- No monthly maintenance fees
- Free domestic incoming wires. Two (2) outgoing domestic wire fees reimbursed per month.
- Unlimited domestic ATM fee reimbursements
- Unlimited item processing (debits, credits, and deposited items)
- Cash deposits via MoneyPass and AllPoint networks
Free Business Banking for the Self-Employed
- Banking, taxes, bookkeeping – all in one place
- Automatically find tax write-offs and save for taxes
- Track and categorize expenses with custom rules
- Free unlimited custom invoices
- Easy sign up; no credit check
Free Checking Account for Small Business Owners
- Sign up in 3 minutes; no credit check
- No account fees - $0 monthly fee, overdraft fee, foreign transaction fee, or ATM fees at approximately 40,000 locations
- Automatic Savings
- Get paid up to 2 days early
No-Fee Business Checking
- $0 monthly service fee
- $0 minimum opening deposit
- Open up to 20 individual business checking accounts
- Earn up to 3% APY with automated savings
- Issue up to 50 Visa® debit cards to your team
CreditDonkey's Choice
PRO TIP: If you're looking for an account that does more than just simply hold your money, one of our recommended choices is North One. It helps you seamlessly run your business with integrated sales, payments, and budgeting - all without monthly fees.
North One Free Business Banking
- Business banking for teams
- Automatic invoice ingestion and payments
- Sales and revenue analytics
- Unlimited account envelopes
- Close to 100 integrations
- Over $5000 in perks for new customers
- No monthly fees, no application fees, no minimum balance
North One is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, Member FDIC.
Compare Business Checking Accounts
 |
| Minimum Deposit to Open | Monthly Fee | ||
|---|---|---|---|
| Truist Bank: Business Checking Account | $100 | $0 | See Offer |
| Lili: Free Checking Account for Small Business Owners | $0 | $0 | See Offer |
| Chase Business $300 Bonus | $0 | $15 with ways to waive | See Offer |
| US Bank: Silver Business Checking account | $100 | $0 monthly maintenance fee | See Offer |
| North One Free Business Banking | $50 | $0 | See Offer |
| Bluevine: Free Business Checking | $0 | $0 | See Offer |
| Relay: No-Fee Business Checking | $0 | $0 | See Offer |
| Found: Free Business Banking for the Self-Employed | $0 | $0 | See Offer |
| Novo: Free Business Checking | $50 | $0 | See Offer |
| Axos Bank: Basic Business Checking | $0 | $0 | See Offer |
| Bank of America: Business Advantage Fundamentals™ Banking | $100 | $16 or $0 – Great news, there's no monthly fee for the first 12 statement cycles. To avoid the Monthly Fee after, meet one of the following requirements each statement cycle:
| See Offer |
Why You Need a Business Bank Account
If you're running an LLC or corporation, you must have a separate business account. It shields you from personal liability if you ever get sued or go into debt. Don't risk losing what you worked so hard for by comingling finances.
Even freelancers and sole proprietors will benefit from a business bank account, though, they don't legally need one. Here's why it's a smart move for any small business owner:
- Simply tax time since your business expenses are already separated
- Look more professional when you send invoices and pay vendors
- Apply for business loans
- Accept credit card payments from customers
- Share access with employees and accountants
A business bank account is more than just a place to stash your funds. It's a valuable partner for the growth of your business.
| | | |
| Visit Site | Get Deal | Get Deal | |
| Monthly Fee | $16 or $0 – Great news, there's no monthly fee for the first 12 statement cycles. To avoid the Monthly Fee after, meet one of the following requirements each statement cycle:
| ||
|---|---|---|---|
| Minimum Deposit to Open | |||
| Balance Requirement | None. $2,000 minimum daily ending balance to waive the monthly fee (but can be waived in other ways) | ||
| Visit Site | Get Deal | Get Deal | |
North One: Information sourced from the published website as of 03/05/2024. | |||
When should you get a business checking account?
Get a business checking account as soon as you start having business expenses, even if you're not making revenue yet. You can keep track of all your startup costs, like website fees, incorporation fees, office supplies, equipment, etc.
Start small and upgrade as your business grows. A free business checking account, like North One, Lili or Bluevine, are good for new businesses because there are no balance requirements.
Business Checking Account - $400 Bonus
- Earn $400 when you open a new small business checking account and complete qualifying activities.
- Choose between:
- Truist Simple Business Checking—Perfect if you're just starting out or have low transaction volume.
- Truist Dynamic Business Checking—With more perks as your balances grow—and a true, local partnership.
- New business checking clients only
- From October 1st, 2024 – March 31st 2025
Business Checking vs Personal Checking Account
Both business and personal checking accounts are for managing day-to-day finances. But a business checking account does a lot more than just receive deposits and pay bills. They often have features to help you manage your business like a pro. Such as:
- Higher transaction limits
- Cash management tools
- Tax reporting tools
- Accounting software integration
- Permission settings and debit cards for team members
Shopping for a business checking account is a whole different ball game. With a personal account, you might prioritize ATM access and fees. But for a business account, it's all about finding the perfect match to suit your unique business needs. Read on.
How to Choose a Business Checking Account
The right business checking account for you will depend on what you need. A small retailer may need a local branch for cash deposits. An online startup may want integrated tools. And a freelance consultant may need invoicing.
Here are some things to think about when comparing business bank accounts:
- Monthly fee
Some accounts have a monthly fee. You'll have to maintain a certain balance (or fulfill some sort of monthly activity) to waive it. Make sure you can meet the requirements.If your finances aren't stable yet, look for a free business checking account like Bluevine.
- Monthly transaction limit
Business checking accounts may only have a limited number of free transactions per month. This can include electronic transfers, check payments/deposits, and debit card purchases. Beyond that, you'll have to pay for each one.Usually, you'll see this with brick-and-mortar banks. A lot of online accounts like Novo and Bluevine give you unlimited transactions.
- Accessibility
Do you need to bank in person? If you make a lot of deposits and withdrawals, you'll probably want a physical branch or ATMs nearby. If you do all your banking online, online-only banks can help you save on fees. - Number of users
If you plan to share banking access, make sure the account allows for multiple users and debit cards. Some accounts don't, so they're better suited for solo businesses. - Banking features and integrations
Business banking accounts do a lot more than just hold your money. Do you want invoicing? Tax tools? Integrated accounting or payroll? Doing these tasks directly through your banking will make your life easier.
Free Business Banking for the Self-Employed
- Banking, taxes, bookkeeping – all in one place
- Automatically find tax write-offs and save for taxes
- Track and categorize expenses with custom rules
- Free unlimited custom invoices
- Easy sign up; no credit check
Can you have multiple business bank accounts?
Yep, having multiple business bank accounts can be useful for separating expenses (like different accounts for payroll, taxes, marketing, etc).
A good option is to get an account like Bluevine or Relay. With these, you get multiple business checking accounts to help organize your cash.
Are Business Accounts FDIC Insured?
FDIC insurance applies to business banking accounts for up to $250,000 per depositor, per bank, per ownership category. Here's how it works:
Sole proprietor business accounts are considered personal accounts. So if you have a personal checking account and a sole proprietor business account with the same bank, you'd be covered up to $250,000 total for both. You can get around this by opening a business banking account at a different bank.
LLC, partnership, and corporation business bank accounts are insured up to $250,000. This is separate coverage from the personal accounts of the owners or members.
Bank of America® Business Advantage Banking Checking Account - $200 Bonus Offer
- The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
- The offer is for new eligible business checking customers only.
- Offer expires 12/31/2024.
- To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30) days of account opening.
- Maintain an average balance of $5,000 in that new Business Advantage Banking account during the Maintenance Period**.
- Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
- Additional terms and conditions apply. See offer page for more details.
- *New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or
Merrill investment accounts.
- ** The Maintenance Period begins thirty-one (31) calendar days after account opening and ends ninety (90) calendar days after account opening.
- Bank of America, N.A. Member FDIC
Chase Business Complete Banking® - $300 Bonus
- Earn $300 when you open a new Chase Business Complete Checking® account. For new Chase business checking customers with qualifying activities.
- Multiple ways to waive the $15 Monthly Service Fee, including maintaining a minimum daily balance or purchases on your Chase Ink® Business credit card.
- Full-service business banking. Convenient access to all your business banking services in one place -- lending, checking, credit card and payment solutions.
- Your choice of payment types. Choose from a full range of options for accepting payments and making deposits that include Zelle®, Online Bill Pay, wire transfers and ACH payments.
- Convenient access to payment processing. Process all major debit and credit cards with QuickAccept®. It's a built-in feature with your Business Complete Checking account.
- Get support you can rely on. Get access to our customer support team, plus a wide array of solutions that carter to every stage of your business
- Full-featured banking online and on-the-go. Manage your business' finances on your terms with the latest online and mobile banking technology.
- Associate Debit and Employee Deposit Cards available upon request
Silver Business Checking account - $400 Bonus
Promo code Q4AFL24 MUST be used when opening a U.S. Bank Silver, Platinum, or Business Essentials (Available in AZ, NV, CO, NM, OH, IN, KY and TN) Business Checking account. Limit of one Business Checking bonus per business. A $100 minimum deposit is required to open one of the referenced accounts.
Earn your $400 Business Checking bonus by opening a new U.S. Bank Silver Business Checking or Business Essentials (not available in all markets) account between 10/1/2024 and 1/15/2025. You must make deposit(s) of at least $5,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $5,000 until the 60th day after account opening.
New money is considered money that is new to U.S. Bank. Funds must come from outside U.S Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. Checking account fees (e.g., monthly maintenance, paper statement fee, etc.) could reduce the qualifying daily balance, therefore you must make deposit(s) to cover the fees to maintain the daily balance during the qualifying period to be awarded the bonus. Refer to the Business Pricing Information or Business Essentials® Pricing Information Document for a list of fees.
The business checking bonus will be deposited into your new eligible U.S. Bank Business Checking account within 30 days following the last calendar day of the month you complete all of the offer requirements, as long as the account is open and has a positive available balance.
Offer may not be combined with any other business checking account bonus offers. Existing customers (businesses) with a business checking account or customers (businesses) who had an account in the last 12 months, do not qualify.
All regular account-opening procedures apply. For a comprehensive list of checking account pricing, terms and policies, reference your Business Pricing Information or Business Essentials® Pricing Information and YDAA disclosure. This document can be obtained by contacting a U.S. Bank branch or calling 800.872.2657.
Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice. Member FDIC.
Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.
