Best Business Checking Accounts Of September 2022

Date:

Share post:

Best Business Checking Accounts

We’ve compared 50 checking accounts at 20 banks and credit unions to find some of the best business checking accounts available. For the purposes of this list, Forbes Advisor focused on checking accounts that are nationally available to small businesses.

Annual percentage yields (APYs) and account details are accurate as of Sept. 2, 2022.

Summary: Best Business Checking Accounts

 

COMPANY FORBES ADVISOR RATING ANNUAL PERCENTAGE YIELD MINIMUM DEPOSIT REQUIREMENT MONTHLY MAINTENANCE FEE LEARN MORE
nbkc bank Business Checking Account

4.4

4.5-removebg-preview-1 

0% $0 $0 Learn More

Read Our Full Review

TIAA Bank Small Business Checking

4.0

4-removebg-preview-2 

0.10% $1,500 $0 Learn More

Read Our Full Review

LendingClub Tailored Checking Account

4.0

4-removebg-preview-2 

1.00%
on balances up to $100,000 and 0.10% APY any balance portion over 100,000
$100 $10 or $0 Learn More

Read Our Full Review

Bluevine Business Checking

3.9

4-removebg-preview-2 

1.50%
on balances up to and including $100,000
$0 $0 Learn More

Read Our Full Review

U.S. Bank Silver Business Checking Package

3.8

4-removebg-preview-2 

0% $100 $0 Learn More

On U.S. Bank’s Website
Member FDIC

First Internet Bank Do More Business Checking

3.6

3.5-removebg-preview 

0.50%
with average daily balance of $10,000
$0 $0 Learn More

Read Our Full Review

Novo Business Checking Account

3.6

3.5-removebg-preview 

0% $0
Though Novo requests $50
$0 Learn More

Read Our Full Review

Bank of America Business Advantage Fundamentals Banking

3.5

3.5-removebg-preview 

0% $100 $16 or $0 Learn More

Read Our Full Review

Chase Business Complete Banking℠

3.4

3.5-removebg-preview 

0% $0 $15 or $0 Learn More

Read Our Full Review

Axos Bank Basic Business Checking

3.4

3.5-removebg-preview 

0% $0 $0 Learn More

On Axos Bank’s Website


Methodology

To create this list, Forbes Advisor analyzed 50 business checking accounts at 20 financial institutions, including a mix of traditional brick-and-mortar banks and online banks. We ranked each account on data points within the categories of fees, minimum requirements, customer experience, digital experience, limits, features, APY and access.

Here’s the weighting assigned to each category:

  • Fees: 30%
  • Customer and digital experience: 20%
  • Minimums: 15%
  • Limits: 12.5%
  • Features: 10%
  • Access: 7.5%
  • APY: 5%

The specific characteristics taken into consideration within each category included monthly fees, overdraft fees, ATM fees, minimum deposit requirements, minimum balance requirements, integration with accounting and payroll, merchant services, cash deposit and transaction limits, APY, customer service ratings, mobile and online access, ATM network and the national availability of the account.

Business checking accounts offering no or very low fees scored higher, as did those offering low minimum requirements, high customer service and digital experience scores, and reasonable transaction and cash deposit limits. To appear on this list, the business checking account must be nationally available.

source:ForbesAdvisor.com

Related articles

September 30, Deadline for SIM Re-Registration

The extended deadline for SIM card re-registration elapses today, Friday, September 30, 2022. The Communications and Digitalization Ministry has...

Causes of Acne And How To Treat It

Breakouts may not be that big of a deal in the grand scheme of things, but for some,...

How To Pick a High-Yield Savings Account?

Choosing the best high-yield savings account isn’t always obvious, so comparing accounts will help you find the best...

Best High-Yield Savings Accounts Of September 2022

High-yield savings accounts can help you grow your savings faster than traditional savings accounts. Whether you want to...