Choosing the right business bank is one of the most critical financial decisions you’ll make for your company. The right bank can streamline your operations, save you money on fees, and provide the capital you need to grow.
The wrong one can be a source of frustration and unexpected costs. In this guide, we break down the top business banks in the US for 2025, considering factors such as fees, features, customer service, and accessibility.
Key Factors to Consider When Choosing a Business Bank
Our rankings are based on a comprehensive analysis of several key factors that matter most to business owners. We focused on:
- Fees and Costs: We prioritized banks with low or no monthly maintenance fees, free transactions, and manageable wire transfer or overdraft fees.
- Account Features: From high-yield savings to seamless accounting software integration, we looked for banks that offer robust features to help you manage your finances efficiently.
- Accessibility: We considered both online-only banks with excellent digital tools and traditional banks with a strong physical branch network for those who prefer in-person support.
- Customer Service: We evaluated customer support availability, responsiveness, and overall satisfaction based on user reviews and industry reports.
The 6 Best Business Banks in the US for 2025
Choosing the right business bank account can streamline your financial operations and support your business growth. Here are the six best business banks in the US for 2025, starting with a standout option.
1. American Express Business Checking
Best For: Overall Value & Digital-First Businesses
Key Features: No monthly fees or minimum balance requirements. High APY (Annual Percentage Yield) on balances up to a certain limit. Earn Membership Rewards points on eligible debit card spending. Seamless integration with popular accounting software like QuickBooks.
Pros:
- Outstanding rewards program and competitive interest rate
- No monthly fees or minimum balance requirements
- Seamless sync with other Amex products and cards
- 24/7 US-based customer support
- Free withdrawals at a large network of over 70,000 ATMs
Cons:
- No physical branches or in-person support
- Not suitable for businesses that handle a lot of cash deposits
- Some users report customer service inconsistencies or slow response times
- Outgoing domestic wire transfers have a fee
2. Bluevine
Best For: Startups & Businesses Seeking High-Yield Accounts
Key Features: No monthly fees, unlimited transactions, and no minimum balance. Earn a high APY on your checking balance by meeting a simple activity goal. Offers lending options for qualifying businesses.
Pros:
- Offers a very high-yield checking account
- Extended FDIC insurance up to $3 million
- Built-in tools for invoicing and bill pay
- Offers business loans and lines of credit
- Dedicated banker assigned to your account
Cons:
- Limited options for cash deposits, which may incur fees via third-party services
- Can’t send international wire transfers
- Some reports of customer service issues and long hold times for checks or large transfers
3. Chase Bank
Best For: Traditional Banking & Cash-Heavy Businesses
Key Features: A massive network of physical branches and ATMs for easy cash deposits and withdrawals. Offers a variety of business checking and savings accounts, plus a full suite of lending products and credit cards.
Pros:
- Extensive network of over 4,700 branches and 16,000 ATMs
- Ideal for businesses that make frequent or large cash deposits
- Offers a wide variety of business accounts, loans, and credit cards
- Accounts can be opened online for most business types
- Integrated credit card processing with Chase QuickAccept
Cons:
- Most accounts have monthly fees unless you maintain a high minimum balance
- Limited number of free in-person transactions and cash deposits before fees apply
- Lower APY compared to online-only banks
4. Axos Bank
Best For: Low Fees & Online-Only Operations
Key Features: Unlimited fee-free transactions, no monthly maintenance fees, and no minimum balance. Provides unlimited ATM fee reimbursements and free domestic incoming wire transfers.
Pros:
- A truly fee-free account with no monthly fees, no minimum balance, and no initial deposit
- Unlimited domestic ATM fee reimbursement
- Offers free incoming domestic and international wires
- Strong digital banking platform with a user-friendly mobile app
Cons:
- No physical branch network for in-person support
- Cash deposits can only be made through ATMs
- The basic account doesn’t earn interest (APY)
5. Capital One
Best For: Businesses with a Mix of Digital & Cash Needs
Key Features: Offers both online and in-person banking. Accounts have unlimited fee-free digital transactions and a large number of free transactions for teller or paper checks.
Pros:
- Combines the convenience of online banking with physical branch access
- Unlimited fee-free digital transactions
- Large, free ATM network of nearly 80,000 machines
- Competitive cash deposit limits before fees apply
- Highly rated for customer satisfaction
Cons:
- The branch network is smaller than other national banks and concentrated in certain states
- Accounts don’t earn interest (APY)
6. Novo
Best For: Tech-Savvy Freelancers & E-commerce Businesses
Key Features: An online-only bank with no monthly fees, no minimum balance, and unlimited transactions. Connects seamlessly with popular business tools like Stripe, QuickBooks, and Shopify.
Pros:
- No hidden fees for transactions, transfers, or statements
- Strong integrations with e-commerce, payroll, and payment platforms
- Reimburses all ATM fees
- Built-in invoicing tools to send and track payments
- Easy to open an account online in minutes
Cons:
- No physical branches and no direct cash deposit options
- Customer support is primarily through email or the app, with no phone support for general inquiries
- Some users report delays with large transfers or check deposits
Choosing the Right Bank for Your Business
The “best” bank for you depends entirely on your business’s unique needs. Here are a few scenarios to help you decide:
- For the Sole Proprietor or Freelancer: Look for an online bank with no monthly fees, strong app-based management, and integrated invoicing/tax tools. Banks like Novo or Lili are designed for this kind of business model.
- For the Retail or Service Business (Cash-Heavy): If you regularly deal with cash, a traditional bank like Chase or Capital One is likely your best bet. Their physical branch and ATM networks make it easy to deposit and withdraw cash without hassle.
- For the Growing Startup: You’ll want a bank that can grow with you. Look for features like advanced financial management tools, the ability to open multiple sub-accounts for different purposes, and access to lending or lines of credit. Bluevine is an excellent example of a bank that caters to this need.
Frequently Asked Questions (FAQs)
Got questions about business banking? Here are quick answers to the most common things new entrepreneurs want to know before getting started.
What Is a Business Bank Account and Why Do I Need One?
A business bank account is a dedicated financial account for your company’s income and expenses. It’s essential because it legally separates your personal and business finances, protects you from liability, simplifies bookkeeping and tax preparation, and projects a professional image to clients and vendors.
What’s the Difference Between a Business and a Personal Bank Account?
While they may seem similar, business accounts are specifically designed for commercial activity. They often come with features like business loans, lines of credit, and tools for payroll and payment processing. They also allow you to accept payments from third-party services, which personal accounts typically cannot do.
What Documents Do I Need to Open a Business Bank Account?
The required documents vary by bank and business type, but generally, you’ll need:
- A government-issued photo ID for all signers on the account.
- Your Employer Identification Number (EIN) or Social Security Number for a sole proprietor.
- Your business name, address, and contact information.
- Your business formation documents (e.g., Articles of Incorporation, LLC Operating Agreement).
Can I Just Use My Personal Bank Account for My Business?
While it may be tempting, it’s strongly discouraged. Using a personal account for business can lead to legal complications, make tax season a nightmare, and can even void your legal liability protection if you’re an LLC or corporation. It also prevents you from establishing a business credit history.
What Are Common Fees Associated With Business Bank Accounts?
Common fees include monthly maintenance fees (often waivable), transaction fees (especially for exceeding a certain limit), wire transfer fees, cash deposit fees, and overdraft fees. Many modern banks are now offering accounts with fewer or no fees to attract small businesses.
Are Online-Only Banks Safe?
Yes, online-only banks are just as safe as traditional brick-and-mortar banks, provided they are FDIC-insured. The FDIC (Federal Deposit Insurance Corporation) insures deposits up to $250,000 per depositor, per bank, which means your money is protected even if the bank were to fail. Always check a bank’s FDIC status before opening an account.
How Do I Deposit Cash Into an Online Bank Account?
Since online banks don’t have physical branches, they rely on third-party services for cash deposits. Many partner with retailers like Green Dot or Allpoint, allowing you to deposit cash at locations such as CVS or 7-Eleven. There may be a small fee associated with these deposits, so be sure to check the details with your bank.
Conclusion
Choosing the right business bank for 2025 is more than just selecting a name from a list; it’s about finding a financial partner that aligns with your business’s specific needs. Whether you prioritize a no-fee digital-first experience, a strong physical presence for cash deposits, or a bank that offers robust tools to help you scale, there’s an option out there for you.
The future of business banking is a blend of technology and personalized service, so look for a bank that empowers you with powerful digital tools while still offering the support you need. Regularly re-evaluating your banking relationship as your business grows will ensure you’re always getting the best value and support.
