There are a variety of best business checking accounts to choose from. The business bank account you choose can affect your company's bottom line. With the right business checking account, you can simplify your accounting process with convenient features and reasonable rates and fees.
Customize LendingClub Checks
Dividend rate: 1.50% on balances under $100,000
A deposit of USD 100 is required in advance.
Available locations: 1 (online)
The LendingClub Custom Checking Account is a virtual banking service available only online. The program is compatible with iOS and Android operating systems and can sync with a user's Mint, Quickbooks, or Quicken account. Business client accounts earn 1.50% APR on account balances up to $100,000 and 0.10% APR on balances over $100,000. You can earn 1% cash back on select transactions in exchange for using your Tailored Checking debit card. Your account is free if your average monthly balance is $500 or more. The company will reimburse any non-LendingClub ATM withdrawal fees.
American Express Business Chequing Account
1.30% APR on first $100,000
You don't need to deposit any funds to get started.
Available on the web only (number of locations)
Business owners can open an American Express account online and enjoy competitive interest rates, no monthly maintenance fees, and no minimum deposit. Deposit $5,000 within the first 20 days, maintain an average balance of $5,000 over 60 days, and complete ten qualifying transactions to receive a total bonus of 30,000 points. The MoneyPass network offers free access to 37,000 ATMs nationwide. Although American Express has no physical location, they offer 24/7 phone and chat service. It has a business checking app for mobile banking. However, it's only available on the iOS App Store.
Use standard business checks from Axos Bank
The annualized rate of return: 1.01%
You don't need to deposit any funds to get started.
Available on the web only (number of locations)
For small businesses, the online-only Axos Bank is the most incredible option for business checking accounts. Customers can contact real people to help them anytime, anywhere. The $200 reward will be credited to all newly formed company accounts on July 2, 2020. Businesses established before this date are eligible for a $100 bonus. With a "basic" business checking account, no minimum deposit requirements, no monthly account management fees, and ATM fees are reimbursed indefinitely.
Indiana's First Internet Bank
It turns out that the online banking business is more about checks
Annual Return Rate: 0.50% on average daily deposits of $10,000
You don't need to deposit any funds to get started.
Available on the web only (number of locations)
First, online banking caters to the needs of small business owners by offering a variety of business verification options that can only be accessed online. The Do More Business current account has no service fees, minimum balance, or transaction limits. Customers can get up to $10 back in ATM fees per month.
Bethpage Federal Credit Union
Bethpage Federal Credit Union's Free Business Audit
Annualized rate of return: 0.20%
Minimum Deposit: $5
There are 30 different locations in New York State.
You can choose from two business checking accounts with Bethpage Federal Credit Union. Anyone can join by depositing a $5 opening fund into their account. An accessible business checking account with no minimum balance requirement allows your business to save on monthly banking fees. All financial transactions are free. Because the credit union has 30 physical locations in New York, its online banking services are available to customers nationwide.
TIAA Bank Small Business Checking Account
Annualized rate of return: 0.10%
Deposit at least $1,500 to get started.
Available on the web only (number of locations)
TIAA is a Florida-based financial services company that operates the TIAA Bank online banking service. Three different business inspection options are available. Small business checking accounts have very competitive rates because there is a $1,500 minimum deposit to open. The balance is 5. On $15,000 or less per month, you will receive a $15 refund.
Navy Federal Credit Union
business checking account
Last year: 0.01%
A $250 deposit is the minimum requirement to get started.
Three hundred and fifty locations worldwide.
Navy Federal Credit Union offers three different interest-bearing business checking accounts. A business checking account is best for new companies. The annual interest rate is low at approximately 0.01%.
