The best online business bank accounts give your small business more than a place to store money. They combine reliable checking options with digital tools that make managing finances easier. A strong account should be affordable, simple to access, and flexible enough to match your company’s needs. Some accounts focus on streamlined, low-cost checking, while others provide a wider range of features that rival traditional banks, all with the convenience of managing everything online.
The listed providers are backed directly by the FDIC or have an FDIC-insured backing bank. This guarantees that your company’s finances are protected by up to $250,000 per depositor, per bank.
Here are the best online business bank accounts for small businesses, with links directly to the providers:
- Bluevine
Bluevine is a financial technology company, not a bank. Banking Services provided by Coastal Community Bank, Member FDIC.
: Best overall for digital banking - Mercury
Mercury is a fintech company, not an FDIC-insured bank. Deposits in checking and savings accounts are held by our banking services partners, Choice Financial Group and Evolve Bank & Trust®; Members FDIC. Deposit insurance covers the failure of an insured bank. Certain conditions must be satisfied for pass-through insurance to apply.
: Best for tech companies and startups - Grasshopper
Grasshopper Bank, N.A. Member FDIC.
: Best online bank with built‑in accounting and cashback - Found
Found is a fintech company, not a bank. Banking services are provided by Lead Bank, Member FDIC.
: Best for self-employed professionals - Baselane
Baselane is a financial technology company and is not a bank. Banking services provided by Thread Bank, Member FDIC.
: Best for real estate investors - Lili
Lili is a financial technology company, not a bank.
Banking services are provided by Sunrise Banks, N.A., Member FDIC
: Best for digital tax preparation assistance - Relay
Relay is a financial technology company and is not a bank. Banking services provided by Thread Bank, Member FDIC
: Best for profit‑first cash‑flow management and team spending control
Best online business banks’ basic checking accounts at a glance
Note: All the accounts listed have $0 transaction fees.
Bluevine: Best overall for digital banking
Pros
- No monthly maintenance fee and minimum balance requirement
- $300 sign-up bonus
- Three checking options with competitive interest
- Unlimited 1.5% cash back business Mastercard
- Excellent line of credit
- No ACH and incoming wire fees
Cons
- No savings, MMA, and CD accounts
- No physical locations
- Fee for depositing cash
Read our Bluevine business checking review
- You want fee-free checking with great perks: Bluevine Standard offers fee-free banking with no monthly fees, transaction fees, or minimum balance requirements. It includes great integrations, international payment support, and extended FDIC insurance of up to $3 million. Automatic transfers between your subaccounts and main account are also available.
- You want to earn interest on your online business bank accounts: Bluevine Standard lets you earn 1.5% APY on qualifying balances of up to $250,000 by either spending $500 each month using its debit card or receiving $2,500 in customer payments monthly. This is why Bluevine is one of the best small business checking accounts available.
- You need either a business line of credit or a credit card: Bluevine tops our list of the best business lines of credit. Thanks to its excellent line of credit, it is also one of the leading banks for small business loans. In addition, Bluevine offers the Bluevine Business Cashback Mastercard, which gives 1.5% unlimited cash back on all eligible business purchases.
- You make regular cash deposits: Bluevine offers two cash deposit options with fees: $4.95 per transaction at 90,000 Green Dot locations or $1 plus 0.5% of the deposit at 1,500 Allpoint+ ATMs. For frequent cash deposits, consider a traditional bank like Chase. Check out our Chase Business Complete Banking review for more information.
Mercury: Best for tech companies and startups
Pros
- No monthly maintenance fees on the introductory account
- Physical and virtual debit cards
- Treasury product offers outstanding yield on balances over $350,000
- FDIC coverage of up to $5 million
- No overdraft fees
Cons
- No APY options for business checking
- Cash deposits not accepted
- Limited lending options
Read our Mercury business checking review
- Startups and tech companies with larger balances: Tech companies and startups with larger balances will like Mercury’s Treasury product, which earns interest on balances of $500,000 and up. In addition, Mercury has top-notch software integrations with QuickBooks, Stripe, PayPal, and more, plus access to over 300 software deals.
- Businesses needing additional FDIC insurance: Like Bluevine, Mercury uses partner banks and a sweep network to offer extended FDIC Insurance. This program, called Mercury Vault, extends coverage up to $5 million.
- Businesses seeking an introductory account with $0 fees: Mercury Business Checking has no monthly fees, overdraft charges, wire fees, or invoicing fees, making it a great, affordable option for businesses.
- You are a sole proprietor or a trust: Sole proprietors are not clearly listed on the Mercury website as either eligible or ineligible. Having a Federal Tax ID may improve the chances of opening an account since it is a required number, but approval is not guaranteed. Those without one may be better served by Bluevine or Found.
Trusts, however, are ineligible to open accounts with Mercury and will need to look to a traditional bank such as Chase. For more information, see our Chase Business Complete Banking review.
Note: Mercury is a fintech company, not an FDIC-insured bank. Deposits in checking and savings accounts are held by our banking services partners, Choice Financial Group and Evolve Bank & Trust®; Members FDIC. Deposit insurance covers the failure of an insured bank. Certain conditions must be satisfied for pass-through insurance to apply.
Grasshopper: Best online bank with built‑in accounting and cashback
Pros
- 1% cash back on qualified debit card purchases
- Interest-bearing account
- No monthly or transaction fees
- Free physical and virtual Visa® rewards debit cards
- Access to multimillion-dollar FDIC insurance up to $125 million
- Higher APY on balances of $25,000 or more when bundled with an Innovator Money Market Savings Account
Cons
- No physical locations
- Minimum $100 deposit required to open
- Cash deposits not accepted
Read our Grasshopper business checking review
- You want digital-only banking that includes great integrations: Grasshopper provides free invoicing tools that let you create and send invoices directly from your account while accepting ACH or card payments to simplify cash flow. It also includes a complimentary Autobooks integration, giving you access to free built-in bookkeeping, payment processing, and invoicing software.
- You want to earn unlimited cash back on your business checking account: Earn 1% unlimited cashback on all business debit card purchases, helping you get rewards on everyday expenses.
- You need a wide range of business lending products: Where Grasshopper really shines is in its offer of both traditional and nontraditional business financing, including SBA lending, commercial real estate lending, yacht lending, and venture capital and private equity lending.
- You need to deposit cash: Grasshopper doesn’t allow cash deposits into its business accounts. For frequent cash handling, see our Chase Business Complete Banking review for information on Chase’s entry-level account.
For a high cash deposit allowance, you can opt to open Chase’s premium checking account. Read our Chase Platinum Business Checking review to learn more about its features.
You can also choose fintechs like Bluevine, Found, Lili, or Relay for cash deposit support.
Found: Best for self-employed professionals
Pros
- No required monthly fees, minimum balances, account fees, and sign-up fees
- No ACH fees
- Excellent expense tracking on both its desktop and mobile apps
- Track tax write-offs and get real-time tax estimates
- Cash deposits at over 77,000 retail locations
- Free incoming wires
Cons
- No lending products
- Interest earnings only through paid tier Found Plus
- Cannot purchase checks or issue them from the app
Read our Found business checking review
- Freelancers looking for detailed expense tracking with integrated bookkeeping: If you’re seeking detailed expense tracking, you will appreciate Found. Its built-in bookkeeping software categorizes expenses, captures receipts, and lets you customize invoices and set custom rules within the Found app.
- Business owners looking for contractor management: Another major perk of Found is built-in contractor management. Found allows you to generate 1099-NEC forms automatically to assist your contractors in tax reporting.
- Self-employed professionals looking for tax preparation assistance: In addition to business checking options without transaction limits, Found offers robust tax tracking and preparation software in the app. You can complete Schedule C and pay taxes directly from the app.
- You want to earn interest without upgrading to a paid account: Found’s interest-bearing checking product is only available in its premium checking product, Found Plus (1.5% APY on balances up to $20,000). For interest-bearing options without a paid account, consider Bluevine or Grasshopper.
Note: Found is a financial technology company, not a bank. Banking services are provided by Lead Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category.
The Found Mastercard Business debit card is issued by Lead Bank pursuant to a license from Mastercard Inc. and may be used everywhere Mastercard debit cards are accepted.
Baselane: Best for real estate investors
Pros
- No monthly fees
- No minimum balance requirement
- Up to $3 million FDIC insurance
- Free ACH payments to third parties
- No ATM fees at over 55,000 Allpoint ATM network
- $100 sign-up bonus
Cons
- No MMAs and CDs
- No branches
- Cash deposits at Allpoint ATMs only
Read our Baselane business checking review
- You’re a real estate investor or landlord seeking an all-in-one banking and property management platform: Baselane offers a fee-free business checking account, a high-yield savings account, free ACH payments, and real-time cash flow tracking. It also provides rent collection and tenant screening services, making it easy to manage your rental operations efficiently.
- You own a short-term rental property, such as an Airbnb or VRBO
Vacation Rentals By Owner
: Baselane’s unlimited accounts let you create a separate account for each property, allowing you to track expenses, manage finances, and streamline property management. You can also get both virtual and physical cards, plus access real estate-focused financial reports to analyze your property’s performance.
- You want hassle-free rent collection: Baselane simplifies rent collection by automating reminders for upcoming or overdue payments and setting up late fees to encourage timely payments. Renters can choose from various online payment methods, including ACH transfers, debit, and credit card payments, making it convenient for both parties.
- You need in-person banking services: Baselane operates exclusively online, offering a fully digital banking experience. While it is the top provider of banking products and services tailored to landlords and real estate investors, it does not offer in-person banking.
If you prefer a physical location, traditional banks like Chase and U.S. Bank are excellent alternatives. To learn more about both options, read our U.S. Bank vs Chase business checking comparison.
Lili: Best for digital tax preparation assistance
Pros
- No monthly fees for the basic tier
- Lili Smart and Premium accounts provide tax preparation assistance and bookkeeping tools
- Two days early payment via direct deposit
- Integrations include QuickBooks, Venmo, PayPal, and CashApp
- Unlimited invoice creation (Lili Smart and Lili Premium)
- 3.00% APY on savings accounts
Cons
- No physical locations
- Some of the best features are in higher-tier accounts
- Outgoing wire transfers are $15
Read our Lili business checking review
- You want tax preparation assistance: Lili Pro’s tax software tracks potential tax write-offs, sets aside tax funds through a tax bucket, scans receipts, organizes expenses into tax categories, and generates expense reports. Those make Lili a powerful tool for small businesses with limited financial resources.
- You want an online banking provider that services most business organization types: Lili allows multi-member LLCs, S-corps, general partnerships, limited liability partnerships, sole proprietors (with or without a DBA), and single-member LLCs to sign up for an account.
- You want the option to upgrade to a premium account with extra perks: Lili offers a fee-free basic checking account with a debit card and an early payout of two days via direct deposit. For more features, Lili Pro includes cash back rewards, fee-free overdrafts, high APY savings, and expense tools. Lili Smart and Premium plans add unlimited invoicing and automated bookkeeping.
Relay: Best for profit‑first cash flow management and team spending control
Pros
- FDIC insurance up to $3 million through partner banks
- Checking customers are eligible for savings accounts with APY up to 3.03%
- Bill management included
Cons
- Checking accounts are non-interest-bearing
- No lending products
- No physical branches
Read our Relay business checking review
Relay is a financial technology company and is not a bank. Banking services provided by Thread Bank, Member FDIC.
- You follow the Profit First method: Relay makes it easy to implement profit-first cash management by letting you open multiple subaccounts and set automatic allocation rules. This helps you separate income for taxes, payroll, profit, and operating expenses without extra manual work.
- You need better team expense control: Relay allows you to issue up to 50 debit cards, each tied to its own account with individual spending limits and role-based permissions. This makes it easier to manage employee or contractor expenses while keeping oversight.
- You want high FDIC insurance coverage: With Relay, deposits are FDIC-insured up to $3 million through its sweep program, giving you a higher level of protection than many online banks. Check out our guide to a sweep account to learn how it works.
- You need lending or credit options: Relay focuses on digital checking and money management tools, and it does not provide business loans, credit cards, or lines of credit.
If access to financing is important, you may be better served by a traditional bank such as Chase or U.S. Bank, which offers a wide range of lending products alongside checking services. Our comparison of U.S. Bank vs Chase business checking can help you decide which fits the bill.
How I evaluated the best online business bank accounts
When researching the best online banks for small businesses, I focused on several key factors to provide a well-rounded review. I explored the websites of online banks and fintech platforms that offer business accounts to gather insights. This allowed me to compare features, services, and customer feedback across a range of providers.
- Monthly fees and waivers: I reviewed whether banks charge monthly fees and the conditions to waive them, such as maintaining a minimum balance or setting up direct deposits.
- Opening deposit and balance minimums: I checked the initial deposit requirements and ongoing minimum balances needed to avoid fees or earn interest.
- Transaction limits and fees: I assessed limits and costs for ACH transfers, deposits, withdrawals, and other common transactions.
- ACH and wire transfer fees: I evaluated pricing for domestic and international transfers, including availability of free or discounted options.
- ATM access and fees: I looked at ATM network availability and charges for using out-of-network machines.
- Cash deposit options: I reviewed whether banks accept cash deposits and what fees, if any, apply.
- Interest rates: I compared yields on business checking and savings accounts, with a focus on options for businesses holding larger balances.
- Account perks: I considered extras such as cashback rewards, partner discounts, or promotional bonuses.
- Software integrations: I checked for compatibility with accounting, invoicing, and payroll platforms like QuickBooks, Xero, and FreshBooks.
- Lending options: I reviewed whether banks provide business loans, credit cards, or lines of credit.
- Customer service and reviews: I assessed support channels and responsiveness, and factored in user ratings from App Store and Google Play.
- FDIC insurance: Ensure your business account is covered by FDIC insurance, protecting deposits up to $250,000. For instance, Mercury offers extended coverage up to $5 million with its Vault product.
- Cash handling: Consider a traditional bank if your business frequently handles cash, as online options for cash deposits can be costly and inconvenient. See our roundup of the best small business checking accounts for options.
- Security: Research the bank’s security protocols and read customer reviews to ensure it has a strong security reputation.
- Customer reviews: Review feedback from business customers to spot potential red flags and avoid issues. Each individual bank review on Fit Small Business includes a customer review section.
- Products and services: Look at whether the provider offers the products your business needs. Some financial institutions specialize in certain areas, such as business checking, savings, CDs, SBA loans, or other commercial services. Start by confirming which business products are essential, then choose a provider that matches those needs.
Services offered by online banks for businesses
In addition to interest-bearing checking and savings accounts with mobile or web transfer capabilities, many online banks offer innovative features and services to businesses.
- Select an online bank or bank account type. Choose a small business online bank that offers online banking services. Many traditional banks and digital-only banks provide options for businesses, such as Bluevine and Mercury.
- Prepare your documents. Each provider on this list may require different documents to open a business bank account. Generally, you will need:
- Employer identification number (EIN) or Social Security number, if you’re a sole proprietor
- Personal and business details, including information about beneficial owners and proof of address.
- Fictitious business name certificate or doing-business-as (DBA) certificate, if applicable
- Business formation documents, such as Articles of Incorporation or LLC formation paperwork.
- Organization documents, including ownership agreements
- Business licenses, as required by your local government or industry
- Government-issued photo ID, such as a passport or driver’s license
- Complete the application form. Fill out the online application form on the bank’s website or app. You’ll provide information about your business, such as its name, type, and address.
- Submit documents. Upload the required documents as part of the application process. Some banks may ask for additional verification or request a video call for identity confirmation.
- Verification and approval. The bank will verify your information. This process may take anywhere from a few minutes to several days, depending on the bank and the complexity of your business.
- Fund your account. Some banks require an initial deposit to activate the account. You can usually do this via electronic transfer from another account.
- Access your account. Once approved, you’ll receive access to your business bank account via the bank’s online platform. You can manage your account, make transfers, and track transactions online.
Frequently asked questions (FAQs)
The best online bank for small businesses is Bluevine, thanks to its interest-bearing checking accounts, excellent small business line of credit, extended FDIC insurance, and international payment support. It is also one of the leading banks for small business loans.
As long as your online bank is FDIC-backed or partnered with an FDIC-insured bank, your funds are just as safe as with a traditional bank. Be sure to choose a bank with FDIC protection. Bluevine and Mercury are our top choices for online business banks.
It ultimately depends on the type of banking your business will conduct. If your business handles cash regularly, choose a bank with physical locations. For mostly digital transactions, an FDIC-insured online bank is just as safe as a traditional bank.
To trust online banking, ensure the bank is FDIC-insured or partnered with an FDIC-insured institution. Look for strong security measures like encryption and multi-factor authentication. Check customer reviews for reliability and any past security breaches, and choose a bank with a solid reputation.
Online banking risks can include cyberattacks, data breaches, fraud, and identity theft from compromised login details. Technical issues, like outages, can also affect access. You can use strong passwords, enable multi-factor authentication, and choose a bank with robust security to limit these risks.
Yes, you can open a business bank account online. Many banks and financial institutions offer fully digital business banking services, making it easy and convenient whether you’re at home or in the office.