10 Best Online Banking Accounts

Online business checking accounts offer essential flexibility and functionality across a variety of business types and organizational structures. Whether you're a sole proprietor, operate a nonprofit, or manage a corporate entity, understanding which account features align with your business type can enhance your financial management and operational efficiency. Here’s a breakdown of different types of businesses and organizations that can benefit from utilizing online business checking accounts:

Corporate Entities: Large businesses or corporations often require robust banking services that can handle a high volume of transactions and complex financial management needs. Online business checking accounts for corporate entities typically offer advanced tools for cash management, fraud prevention, and large-scale payroll services.

Self-Employed and Freelancers: Individuals who work for themselves, such as freelancers, independent contractors, and consultants (often under 1099 status), need flexible banking solutions that allow for easy tracking of income and expenses. Online accounts with no minimum balance requirements and no fees are particularly beneficial as they help minimize overhead costs.

Partnerships and Shared Businesses: These entities benefit from online business checking accounts that offer multiple access permissions and the ability to easily monitor and manage joint finances. Features like transaction history logs and custom access levels can help partners keep track of business activities transparently.

Startups and Entrepreneurs: Agility and growth potential are critical for startups. Entrepreneurs benefit from online business checking accounts that offer scalability, easy setup, and financial incentives such as business checking account promotions or a business checking account bonus to stretch initial capital further.

Ecommerce Businesses: Online merchants require accounts that can integrate with e-commerce platforms, allowing for seamless transactions and inventory management. Features such as mobile deposits and instant alerts on transactions are crucial for businesses operating in digital spaces.

Sole Proprietors: Similar to freelancers, sole proprietors benefit from straightforward banking solutions. A small business checking account with no fees allows them to manage business finances without the complexity and costs typically associated with commercial banking services.

Nonprofits and 501(c)(3) Organizations: These groups need to meticulously track donations and expenses to ensure compliance with regulatory requirements. Online business checking accounts that offer detailed reporting features and custom tagging of transactions can greatly assist with this need. Additionally, some banks offer special account types or terms for 501(c)(3) organizations and other nonprofits to support their unique financial situations.

NGOs and Churches: Non-governmental organizations and religious institutions often operate under tight budget constraints and require accounts that help manage donations efficiently. Specialized nonprofit checking accounts with features such as donation tracking and tax-deductible receipt issuance are highly beneficial.

Real Estate Agents and Real Estate Investors: These professionals often handle large transactions and require accounts that can support frequent deposits and withdrawals. Online business accounts with features like remote check deposits and real-time balance updates can help manage these high-stakes transactions effectively.

Each of these entities has unique banking needs, and the best online business checking accounts offer the flexibility to customize services and features to match. From no fee accounts that benefit freelancers and sole proprietors to more sophisticated accounts that assist corporations and startups in scaling efficiently, online business banking is a versatile tool that can meet the diverse financial needs of various business models and organizational structures.

By choosing the right type of online business checking account, businesses and organizations can not only streamline their financial operations but also leverage banking technology to gain a competitive edge in their respective fields. Whether you’re an independent contractor, run a nonprofit, or are building a startup, there’s an online business checking solution that can help optimize your financial management and support your specific goals.

Rho:

* $500 statement credit for a $10K deposit into the Business Checking account, or a $1500 statement credit for a $100K deposit into the same account. Terms apply.
**Rho is a fintech company, not a bank. Checking and card services provided by Webster Bank, N.A., member FDIC.
***Savings account services and up to $75M in FDIC insurance provided by American Deposit Management Co. and its partner banks. Rho  a financial technology company, not a bank or an FDIC-insured depository institution. The FDIC's deposit insurance coverage only protects against the failure of an FDIC-insured bank that holds your deposits and is subject to FDIC limitations and requirements. It does not protect you against the failure of Rho or other third party. For more information on deposit insurance, please visit the FDIC website.

North One:

*The Annual Percentage Yield ("APY") for your Standard or Plus Plan is variable and may change at any time. 2.50% APY applies to Standard Accounts, and 3.00% APY applies to Plus Accounts on balances of $250,000 or less if eligibility requirements are met, including but not limited to a cumulative monthly card spend of at least $500.00, and if the account balance is greater than $0.00. For Accounts with balances over $250,000 the APY will range from 3.00% to 2.14% for Plus Plans and 2.50% to 1.78% for Standard Plans. The disclosed APY is effective as of December 18, 2024, please see your APY Program Terms & Conditions for details.
**2 North One does not charge a fee for this service, but may reimburse you for third party fees charged. You must contact Support to request reimbursement. Some restrictions apply. See Deposit Account Agreement for details.

Bluevine:
 

¹ No limit on numbers of transactions, However, all accounts are subject to the aggregated monthly deposit and withdrawal amount limits of the Account Agreement.

²You can earn $300 when you open a new Bluevine Business Checking account and meet elgibillity requirments

Live Oak Bank - Business Checking:

¹Fee structure for business checking accounts is as follows: Business Essential is $10/month waivable with $1,000 average daily balance; Business Plus is $25/month, waivable with $25,000 average daily balance; and Business Plus Analysis is $100/month, earnings credit can offset fees.
²If you use a non-Allpoint ATM, that institution may assess a transaction fee.
³Personal Savings $300 Bonus Terms & Conditions:
·         Full information here.
·         Customers must open a new account; one bonus per tax identification number.
·         Account must be funded from an external account.
·         Existing Customers must maintain existing balances in their personal savings accounts.

Axos:
 

*Open a business checking account by Jan. 31 and get up to $400 when you use promo code NEW400 on your application and maintain a minimum average daily balance of $50,000.

U.S Bank:
 

¹ Earn a $500 bonus when you open a Silver Business Checking Account or $900 when you open a Platinum Business Checking Account online with promo code Q1AFL25 and complete qualifying activities, subject to certain terms and limitations. Offer valid through March 31, 2025. Member FDIC.

Mercury:
 

*Mercury is a financial technology company, not a bank. Banking services provided by Choice Financial Group and Evolve Bank & Trust, Members FDIC.
¹ Up to $5 million in FDIC insurance through their partner banks/sweep networks.
² Free wire transfers in USD. Mercury is a fintech company, not an FDIC-insured bank.
³ Mercury Treasury is not insured by the FDIC. Mercury Treasury are not deposits or other obligations of Choice Financial Group or Evolve Bank & Trust, and are not guaranteed by Choice Financial Group or Evolve Bank & Trust. Mercury Treasury products are subject to investment risks, including possible loss of the principal invested. See mercury.com/treasury for additional disclosures.
⁴ 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.

American Express:

¹ Qualifying activities include:

- Deposit a total of $5,000 or more in eligible deposits within 30 days of opening your first account (Eligible deposits are any deposits except deposits using our Redeem for Deposits feature, deposits from interest payments, and deposits from any other American Express Business Checking accounts.)

AND

- Maintain an average account balance of $5,000 for the next 60 days,

AND

- Make 5 or more qualifying transactions within 60 days of opening your account (Qualifying transactions are mobile deposits, check deposits by mail, and electronic/online transactions including ACH, Wire, and Bill Payments. Business Debit Card transactions and deposits using our Redeem for Deposits feature are not qualifying transactions.)

² At Allpoint® and MoneyPass® locations in the U.S., you can withdraw cash and get balance information with no fee. Access to ATMs outside of the Allpoint® and MoneyPass® networks are subject to fees by the ATM owner and/or network. ATM withdrawal limits apply. American Express applies foreign exchange fees to withdrawals in foreign currencies. American Express does not accept ATM cash deposits into your Business Checking account at this time. Visit americanexpress.com/atm-locator to find participating ATMs in the U.S.

Cash withdrawals from ATMs outside of the MoneyPass® or Allpoint® networks may be subject to fees by the ATM owner and/or network.

$10 USD fee applies. Same Day ACH transactions submitted between 12 AM and 2:45 PM ET on a business day will arrive on the same day by 6 PM ET. The availability of your funds may vary depending on your payee’s financial institution. Please note that the same day ACH option is not available for recurring or international transactions.
 

Membership Rewards® Program - Redeem for Deposits Terms:

You may redeem Membership Rewards® points for deposits into your American Express® Business Checking Account at the standard rate of 1000 points for an $8 deposit. If you have a Business Platinum Card® and an American Express Business Checking Account linked to the same Membership Rewards Account, you can redeem points for a deposit at a rate of 1000 points for $10 for up to 1,000,000 points per calendar year, after which you may continue to redeem points at the standard rate. There is no minimum number of points needed to use Redeem for Deposits. American Express will deduct the number of points you select from your Membership Rewards Account and deposit a corresponding dollar amount into your checking account. Generally, deposits will post to your account within 48 hours of redemption. For more information, visit www.membershiprewards.com/terms. Terms apply.

Found:
 

Found is a financial technology company, not a bank. Business banking services are provided by Piermont 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 Piermont Bank pursuant to a license from Mastercard Inc. and may be used everywhere Mastercard debit cards are accepted.

*To qualify for the $125 bonus, a user must (1) have a balance of $5,000 in their Found account within 30 days of account creation; and (2) must maintain a minimum balance of $5,000 for 30 days. Account must be opened by 04/30/2025. This offer is valid through 05/30/2025 and is limited to one reward per account.
.**Found's core features are free. Found also offers an optional paid product, Found Plus for $19.99 / month or $149.99 / year.

Relay:
 

Relay is a financial technology company, not a bank. Banking services and FDIC insurance are provided through Thread Bank; Member FDIC. The Relay Visa® Debit Card is issued by Thread Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa® debit cards are accepted.