12 Best Small-Business Checking Accounts of 2021

1. What is the best bank for small business checking?
2. What banks have free business checking accounts?
3. What are the best online business checking accounts?
4. Which bank is best for LLC?
5. Which is the easiest bank to open a business account?
6. Can I use a personal checking account for my small business?
7. Which banks are best for business accounts?
8. What is the difference between a personal and business checking account?
9. What is needed for business checking account?

What is the best bank for small business checking?

The best small business checking accounts are:

• Bank of America: Best overall for cash deposits and a big introductory bonus.
• Chase Bank: Best for a free checking account with low monthly deposits.
• Capital One: Best for low-cost checking with unlimited transactions.
• U.S. Bank: Best for making only a few monthly transactions.

What banks have free business checking accounts?

Banks that Waive Monthly Fees

• Chase. Chase's Business Complete Banking account costs $15 per month, but there are several ways to dodge that fee. ...
• Axos Bank. Axos Bank has free interest-bearing business checking for those who keep substantial cash on deposit. ...
• Bank of America.

What are the best online business checking accounts?

The best business checking accounts

• Bank Novo. ...
• Chase Business Complete Banking. ...
• Lili. ...
• NorthOne Business Checking Account. ...
• Radius Bank Tailored Checking.

Which bank is best for LLC?

The best business checking accounts for LLC owners are:

• Chase Bank: Best overall for free checking with low account balances.
• Bank of America: Best for cash-based LLCs.
• Capital One: Best for high-volume transactions.
• Wells Fargo: Best for growing LLCs.

Which is the easiest bank to open a business account?

First Citizens Bank Basic Business Checking

With no maintenance fees, no minimum balance, and overdraft protection, the First Citizens Bank Basic Business Checking is as easy as it gets for small business owners who don't want to think too hard about their banking.

Can I use a personal checking account for my small business?

Also, using a personal bank account for your business transactions can invalidate any limited liability you receive through the legal entity you've registered. If you are a sole proprietor, you're not legally required to use a business checking account. But from a business management standpoint, it still makes sense.

Which banks are best for business accounts?

Best Small Business Bank Accounts 2021

• Best for Rewards: Chase Total Business Checking.
• Best Brick-and-Mortar Bank: U.S. Bank Silver Business Checking Package.
• Best Interest-Bearing Business Checking Account: Radius Bank Tailored Checking.
• Best Online Business Checking Account: Axos Bank Basic Business Checking.

What is the difference between a personal and business checking account?

What's the difference between personal and business bank accounts? A business bank account helps small business owners hold and manage money made within a business. Personal bank accounts are not for business use. ... Your business may operate under a DBA (doing business as) name or as an LLC or a corporation.

What is needed for business checking account?

Get documents you need to open a business bank account

1. Employer Identification Number (EIN) (or a Social Security number, if you're a sole proprietorship)
2. Your business's formation documents.
3. Ownership agreements.
4. Business license.