It’s thrilling to begin business — but building your financial foundation is one of the most critical moves towards long-term prosperity. Opening a business checking account not only gives you the means to monitor expense and profit, it also creates business credibility, simplifies tax season, and keeps business and personal finances in their proper places.
In this guide, we’ll explore the best business bank accounts for startups in 2025, highlighting key features, benefits, fees, and how to choose the right one based on your startup’s unique needs.
Why Startups Need a Business Bank Account
Many entrepreneurs make the mistake of using their personal bank accounts to run their businesses, especially during the early stages. However, separating your finances early offers the following advantages:
Legal Protection: Maintaining a separation of business and personal finances protects your personal assets in the event of legal conflicts or bankruptcy.
Tax Efficiency: Easy expense tracking makes it convenient to deduct and file taxes.
Professionalism: Payment through a business account gives clients and business partners confidence.
Growth Readiness: Business accounts make it easier to access credit, loans, and payment facilities like merchant services.
What to Look for in a Business Bank Account that is Startup-Friendly
Before choosing a business checking account, note these most important features:
Low or No Monthly Fees
New businesses have limited budgets. Choose banks that offer monthly maintenance fees waived or low fees.
Digital Banking Features
Account management online, mobile remote deposit of checks, accounting software integrations, and budgeting features are required.
Simple Setup Process
Some banks offer completely online account opening, which is convenient and saves time.
No Minimum Balance Requirements
New businesses vary with regards to cash flow. No minimum balance conditions in accounts are preferred by new businesses.
Transaction Limits
Prevent the bank from charging more after a sequence of monthly transactions.
Integration with Other Services
Banks offering payment processing, invoicing, or business credit card services make life easy.
Best Business Bank Accounts for Startups in 2025
Here’s the best for new business individuals in 2025:
1. Bluevine Business Checking
Best For: No fees and high-interest returns
Monthly Fee: $0
Interest Rate: 2.0% APY on balances up to $250,000
Minimum Opening Deposit: $0
Online Banking: Yes
FDIC Insured: Yes
Pros:
- High interest on balance
- No NSF fees or monthly fees
- Two free checkbooks
- Works with QuickBooks and Xero
Cons:
- No branches
- Few ways to deposit cash
Why It’s Great: Bluevine is perfect for startups wanting to earn interest on balances without additional fees.
2. Found Business Banking
Best For: Freelancers and sole proprietors
Monthly Fee: $0
Minimum Deposit: $0
Mobile App: Yes
Features: Invoicing and tax features built right in
Pros:
- Self-employed tax automation
- Invoicing capabilities
- Real-time tracking of spending and payments
Cons:
- Not built for corporations or LLCs with many partners
- Fewer business features than old-school banks
Why It’s Great: Novo Business Checking makes money management simple for side hustlers and solopreneurs.
3. Novo Business Checking
Best for: Online payment-making startups
Monthly Fee: $0
Opening Deposit: $50
Integrations: Shopify, Stripe, PayPal, QuickBooks
Pros:
- No surprise fees or minimum balance
- Excellent app for invoices and money sending
- Up to $7/month ATM refunds
Cons:
- No in-branch bank branches
- No depositing cash
Why It’s Great: Novo is built for digital-first businesses and features online businesses and e-commerce businesses.
4. Chase Business Complete Banking
Best for: Startups that like access to branches and in-branch banking in the country
Monthly Fee: $15 (waivable)
Minimum Opening Deposit: $0
Branches: Over 4,700 across the U.S.
Perks: $300 signup bonus (limited time)
Pros:
- Access to physical branches and ATMs
- Full-service banking with business loans and cards
- Free QuickAccept® for credit card sales
Cons:
- Monthly fee unless waived
- Fewer tech integrations than fintech banks
Why It’s Great: Chase is a solid choice for businesses that require online convenience with physical presence.
5. Lili Business Banking
Best for: Freelancers and service-oriented startups
Monthly Fee: $0 (Basic), $9/month (Lili Pro)
Mobile App: Yes
Key Features: Real-time expense tracking, tax tools, emergency savings
Pros:
- Budgeting and expense categorization
- Early direct deposit
- Visa business debit card
Cons:
- Limited availability for corporations
- No check-writing feature
Why It’s Great: Lili makes freelancers and contractors’ cash flow and tax easier.
6. Axos Bank Basic Business Checking
Best for: Online businesses with high volume of transactions
Monthly Fee: $0
Minimum Deposit: $1,000
Transaction Limits: Unlimited
Cash Deposits: Available through MoneyPass ATMs
Pros:
- No monthly maintenance fees
- First set of checks free
- Support for cash deposits
Cons:
- High minimum deposit requirement
- Slower customer support at times
Why It’s Great: Axos is a traditional bank environment with modern amenities, ideal for high-frequency transaction startups with lofty expectations.
How to Open a Business Bank Account
The process is simple but with nuanced variations by business type and bank.
Basic Requirements:
- EIN (Employer Identification Number) from the IRS
- Business Formation Documents (LLC, Corp, DBA certificate)
- Business License (optional)
- Valid ID (Driver’s License, Passport)
- Operating Agreement or Partnership Agreement
Some web banks require only your ID and EIN if you’re a single-member LLC or sole proprietor.
Fees to Be Aware of
Though they might have no or low monthly fees, remember:
- ATM Fees (particularly foreign)
- Wire Transfer Fees
- Overdraft/NSF Fees
- Inactivity Fees
- Card Replacement Fees
Carefully read the terms so that you won’t be caught off guard by unexpected fees.
Tips for Choosing the Best Bank Account for Your Startup
Determine Your Needs
Will you accept cash? Do you need branch offices? Will you offer PayPal or Stripe integration?
Think Long-Term
Choose an account that expands with you, with offerings such as business loans or credit cards.
Check Integration Options
Ensure the account is able to integrate with your payment gateways and bookkeeping tools.
Think Support Options
Internet banks do not necessarily have in-house customer support. Think about how much human customer support is critical to your business.
Read Customer Reviews
Lessons from other start-ups lead you away from the pitfalls.
Last Thoughts
The best business bank account follows a successful start-up. From managing day-to-day operations to tax time and financing growth, a solid banking partner can make all the difference.
Whether you prefer Bluevine or Novo, an all-tech virtual bank, or Chase, the security blanket of a traditional bank, the right account depends on your startup’s purpose, organization, and cash mores.
Plant your roots deep — and watch your business take root.
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