Opening a separate business bank account is essential for tax compliance and bookkeeping. The best ones offer no monthly maintenance fees, online access, and business-friendly features.
Why It Matters
- Keeps personal and business expenses separate
- Accepts payments from clients or customers
- Builds business credit
- Makes tax filing smoother
Top Picks for 2025
1. Bluevine Business Checking
- 2.0% APY on balances up to $250K
- No monthly fees
- Free ACH transfers, mobile check deposit
2. Novo
- Great for freelancers and online businesses
- Integrates with Stripe, PayPal, QuickBooks
- Refunds all ATM fees
3. Axos Bank Basic Business
- No monthly fees
- First 200 transactions free
- 24/7 customer support
4. Chase Business Complete Banking
- Trusted brand with physical branches
- $300 welcome bonus for new accounts
- Ideal if you handle cash
What to Watch For
- Transaction limits: Some charge after a certain number.
- Integration: Must work with your accounting software.
- ATM fees: Online banks often refund them.
Final Word
For digital-first businesses, Bluevine and Novo are excellent. If you want a branch nearby, go with Chase. A good business account sets the foundation for future financing and growth.