If you’re a microbusiness owner, you can benefit from free business checking accounts. While most free accounts are designed for individuals or joint account holders, some are more business-friendly. Here’s a look at the best business checking accounts available. They’ll all help you meet your business needs.
Bluevine Business Checking
If you’re looking for a small business checking account, Bluevine is a great option. This online bank doesn’t have a brick-and-mortar location and is available to small business owners in all 50 states. Bluevine offers a business checking account with a free Bluevine Business Debit Mastercard, two free checkbooks, and access to over 38,000 fee-free ATMs in the U.S. via its partnership with the MoneyPass ATM network.
Once you’ve decided to use Bluevine, you’ll need to fill out the online application. This will require information about your company, such as the EIN, articles of incorporation, or operating agreement. Additionally, you’ll need to sign an account agreement. Once approved, you’ll receive a Bluevine business debit card within five to seven business days. You can use the card to accept payments from your customers and track your business’s finances. You’ll also have access to your account online or through a mobile app.
Lili Business Checking
Lili offers free mobile banking, no monthly fees, and no minimum opening deposit for its small business checking accounts. The bank also has a variety of digital tools for small businesses. The bank was originally created for independent contractors and freelancers, but has expanded to include sole proprietors and LLCs. This bank account offers no minimum balance requirements, and allows up to $6,000 in deposits and $1,000 in withdrawals per month.
Signing up for an account with Lili is easy and fast. You can complete your application over the phone and have your debit card sent within three minutes. You can also transfer funds from another bank using an ACH transfer. The Lili app also allows you to make cash deposits.
Capital One Business Checking Account
If you own a small business, you probably want to consider opening a Capital One Business Checking Account. These accounts offer several benefits, including no monthly maintenance fees and free mobile and online banking. They also feature fee-free ATMs and a debit card. One downside of these accounts is that there aren’t many ways to contact customer support. There are no live chat options or secure messaging, which can be frustrating if you’re unsure what to do.
Capital One is one of the most popular choices for small business owners. Their business checking accounts are easy to open and don’t have high average balances or monthly maintenance fees. They also have branches in eight states and Washington, D.C. In addition to business checking accounts, Capital One offers business credit cards and other products and services. Their Spark Business Basic Checking and Spark Business Unlimited Checking are two options, both of which offer unlimited transactions and no monthly maintenance fees.
Novo Business Checking Account
Novo is a free small business bank account that doesn’t have any hidden fees or monthly maintenance charges. It also doesn’t have any limits on deposits or U.S. transactions. It’s also easy to use and boasts tons of features. As a small business bank account, Novo is a good choice for many small business owners.
Novo is great for small businesses as it allows you to link external bank accounts, which can make the application process a lot simpler. The Novo business checking account can be opened in a matter of minutes and you can even complete it from your smartphone! Novo also offers several features to help you manage your finances, including free ATM withdrawals.
US Bank Business Silver Checking Account
The U.S. Bank has many benefits for small businesses, including online banking, a mobile app, and interest-bearing options. The Silver package is free for small businesses and requires no monthly maintenance fee. However, if you plan to make a lot of deposits and withdrawals, the Gold package may be right for you. You can waive monthly maintenance fees and get unlimited ATM fee reimbursements.
There are also benefits for small businesses with the US Bank Business Silver Checking Account. For example, you’ll enjoy a 50% discount on your first check order, which could save you $50. Plus, you’ll have the option of obtaining a Business Reserve Line of Credit up to $5,000, which can help you minimize overdraft fees.
