Best business checking accounts for May 2025
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What to know first: Business owners want to focus on their businesses, not necessarily on where to bank, which is why choosing the right business checking account is important. Top banking priorities of many business owners include having easy access to the business’ funds, without being nickel-and-dimed by various bank fees.
A closer look at the top business checking accounts
Bethpage Federal Credit Union
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APY: 0.20%
Established in 1941, Bethpage Federal Credit Union offers a variety of personal and business savings accounts, checking accounts and certificates of deposit (CDs). Its Business Checking Account comes with a debit card, and there are no transaction limits or minimum balance requirements.
Capital One
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APY: None, this is a non-interest-bearing account
Capital One has over 200 branches and more than 50 Capital One Cafés, although customers can access accounts online and through the bank’s mobile app. In addition to a savings account, business customers are offered the Enhanced Checking account, which includes free domestic incoming wire transfers.
Regions Bank
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APY: None, this is a non-interest-bearing account
Regions Bank has around 1,400 branches in the South and the Midwest. The bank’s Lifegreen Business Checking account offers business owners perks such as a discount on the rental of a safe deposit box.
Security Service Federal Credit Union
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APY: 0.05% (on balances of $1,500 or more)
Membership in Security Service Federal Credit Union is open to residents of Colorado, Texas or Utah, as well as to those who work, attend school, worship or have a business in those states. The credit union offers a variety of personal and business banking products to its members, including its Premium Business Checking account.
American Express National Bank
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APY: 1.30% APY (on balances of $500,000 or lower)
American Express National Bank offers high-yield deposit products, including CDs, checking and savings accounts. Its Business Checking Account can help you earn Membership Rewards points, which can be redeemed for gift cards, travel and more. At the same time, your money earns a high annual percentage yield (APY). The account charges no monthly service fees.
Should I open a business checking account?
When you’re self-employed, a freelancer or run a small business, it can be beneficial to keep your business’ funds in an account that’s separate from your personal bank account. In addition to providing a clearer financial picture, keeping your funds separate may reduce your personal liability if your business were to be sued. It could also make for a simpler tax filing process than if your personal and business funds were kept in the same account.
If your business accepts cash from customers, having a dedicated business account at a bank could provide you with a convenient place to deposit the money or exchange larger bills for smaller ones. What’s more, some business bank accounts come with perks such as free wire transfers, a lower rate on a safe deposit box or discounted access to business attorneys.
Business checking account features and terms
What to consider when choosing a business checking account
Before opening a business checking account, factors to consider include the basics, such as branch access, fees and requirements, as well as bonuses or other perks:
- Minimum balance requirement
- Some accounts require a set minimum balance to earn interest or avoid service fees.
- Monthly maintenance fees
- When accounts charge this fee, it often can be waived by maintaining a certain minimum balance.
- Cash-processing fees
- Banks may charge businesses a fee for ordering coins or making cash deposits.
- Bonuses
- A bank account bonus is sometimes offered to customers who open a new personal or business account.
- Free or discounted checks
- Some banks provide their customers with a free initial set of checks, and some even provide free subsequent check refills.
- Free items or transactions
- Banks may allow business clients a maximum number of free transactions per month, while charging a fee for each additional transaction.
- Branch access
- Business owners commonly rely on bank branches for transactions such as making cash deposits or cashing in larger bills for smaller ones.
Keeping track of your business’ finances
As a business owner, especially at a small business, you have a lot to keep track of: Bankrate has calculators that may help. You might also opt to use QuickBooks or another software program to help keep track of your business.
Business checking account FAQs
Research methodology
At Bankrate, we strive to help you make smarter financial decisions. We follow strict guidelines to ensure that our editorial content is unbiased and not influenced by advertisers. Bankrate's editorial team receives no direct compensation from advertisers and our content is thoroughly fact-checked to ensure accuracy.
Our editorial team is made up of five banking experts. Bankrate regularly surveys around 70 widely available financial institutions, made up of the biggest banks and credit unions, as well as a number of popular online banks, to make sure readers stay up to date on the latest rates and bank products.