5 best business bank accounts with no fees

Key takeaways

• Over half (62%) of business owners say that fees are a major factor in choosing a business bank account¹.

• The best business accounts with no fees are offered by Airwallex, Bluevine, and Novo. Among traditional banks, U.S. Bank and Bank of America are the best fee-free options.

• When choosing a free business account, watch for hidden fees and consider features like cash transaction support, international support, and financial management tools. 

Choosing a business bank account with no fees lets you to hold onto every dollar of your business’s revenue. But fee-free business accounts vary in what financial tools they offer to help your business grow, and some even charge hidden fees for essential banking features.

In this guide, we’ll review the 5 best business bank accounts with no fees in 2026 to help you choose the right one for your business. Here are our top picks:

Top-rated online banks and financial platforms

Online banks remove many hidden fees that traditional banks charge and offer digital tools to support your business. Here’s a closer look at our top-rated free online banks for businesses.

Airwallex

Our take: The business account offered by Airwallex is a free multi-currency account that offers local bank details in 60+ countries and 20+ currencies. You can send and receive payments via domestic banking rails in 120+ countries, which speeds up payments and helps you avoid SWIFT and international fees. When you need to convert currencies, Airwallex provides access to interbank rates, helping you save up to 80% on foreign exchange (FX) fees.

Your account also comes with powerful features to manage your business’s finances. You can get unlimited multi-currency debit cards for your company to simplify spending. Flexible expense management software gives you control over business expenses and lets you reimburse employees for free. 

Our platform also integrates with popular online marketplaces like Shopify and accounting tools like QuickBooks and Xero, so you can view all your sales and expenses in a single platform, which is useful for eCommerce business bank accounts.

There are no account opening fees, monthly maintenance charges, or minimum transaction requirements. Fees for more complex transactions are transparent, which is why more than 200,000 businesses worldwide trust Airwallex.

Pros

• Free domestic and international bill pay

• Get up to 1.5% cashback on all USD spend

• Accept online payments with low, transparent fees

Cons

• Doesn’t support cash transactions

• NetSuite integration requires a paid upgrade

Bluevine Business Checking

Our take: The Bluevine Business Checking account is a fee-free checking account with unlimited domestic transactions, no overdraft fees, and no minimum balance requirement. It gives you free access to the MoneyPass ATM network, making it a good option for businesses that handle cash. For businesses with savings, the account offers 1.3% APY on balances up to $250,000.

The account also includes virtual and physical debit cards, bill pay, and sub-accounts to help you manage finances for different projects. Online invoicing tools and payment links help you collect money. If your business needs financing, Bluevine offers lines of credit and loans.

Pros

• Includes a free checkbook

• $3 million in Federal Deposit Insurance Corporation (FDIC) insurance

• Accept international payments in 39 currencies (fees apply)

Cons

• High fees for international payments

• Only supports USD balances

Novo

Our take: Novo is an online-only financial platform designed for freelancers and solopreneurs. It has no monthly fees, no minimum balance, and no overdraft fees. Novo stands out for its built-in bookkeeping software and reserves, which help you budget for various business goals.

Novo offers an owner-only debit card with cashback on popular business software. It also has a fee-free business credit card and offers a business line of credit. The platform doesn’t provide free ATM access, so it’s not ideal for businesses that handle cash. It also doesn’t process international payments directly, so it’s not the best business bank account for international businesses. 

Pros

• User-friendly for new business owners

• Integrates with freelancer marketplaces like Fiverr

• No hidden fees for any domestic payments

Cons

• No premium plans to support growing businesses

• Requires a money order to deposit cash

Top-rated traditional banks

Traditional banks offer a wider range of financing options and in-person banking. While they’re known for charging fees, these banks offer fee-free business accounts.

U.S. Bank Business Essentials

Our take: U.S. Bank is the fifth-largest bank in the US, with more than 2,000 branches and 15,000 ATMs across 26 states. It offers a free Business Essentials checking account with no minimum balance requirement. 

The account includes unlimited online transactions, unlimited ATM transactions, and 25 teller transactions per month. You can also link a U.S. Bank business savings account, though it carries a $5 monthly fee. You can get physical debit cards for you and your employees at no extra cost to streamline spending. 

The Business Essentials account is especially good for businesses that want to accept in-person payments since it includes a free mobile card reader. But U.S. Bank doesn’t offer invoicing software or payment links to help you collect online payments. 

Pros

• Unlimited digital transactions

• Free online bill pay

• Includes built-in payroll software

Cons

• No spend controls on employee debit cards

• Only 25 free teller and paper transactions per statement cycle

Bank of America Business Advantage Fundamentals

Our take: Bank of America is a major national bank with more than 3,600 branches and 15,000 ATMs across the US. 

Its Business Advantage Fundamentals checking account usually charges a $16 monthly account fee, which is waived for the first 12 months after opening. It can also be waived if you maintain a $5,000 minimum balance or make at least $500 in monthly purchases with your business debit card. No Big Four bank offers a free business bank account, so this is the best option if you prefer a nationwide bank.

The Business Advantage Fundamentals account lets you link your personal and business Bank of America accounts and offers Zelle for your business. It also offers online bill pay, physical checks, and QuickBooks integration. 

Pros

• Large nationwide branch and ATM network

• Many accounts and financing options as your business grows

• Offers linked business savings accounts and certificates of deposit (CDs)

Cons

• $16 monthly fee if you don’t meet the waiver requirements

• Additional fees for incoming wires (domestic and international)

How to choose a no-fee business bank account

Here are the most important things to consider when picking the best no-fee business bank account. 

• Hidden fees: Avoid bank accounts that charge extra for transactions your business needs, like wire transfers, cash deposits, or foreign debit card transactions.

• Minimum balance: Look for accounts that don’t require a minimum balance to open the account or qualify for a fee waiver.

• Cash transaction support: If your business handles cash, choose a bank that supports cash and has physical bank branches or an ATM network.

• International payment support: If you need to transact with international customers or suppliers, consider a multi-currency account, like the Airwallex Business Account. Compare fees for international wire transfers.

• Debit cards: Consider providers that provide free debit cards for you and your employees, as they can simplify business purchases. Pick cards with lower foreign transaction fees and spending controls on employee cards.

• Payment acceptance: Look for features such as online invoices, payment links, and payment gateways to help your business collect funds faster and improve customer experience.

• Financial management tools: Consider providers with built-in spend management software and customizable automations to help manage your business's finances with less manual administration.

• Integrations: Prioritize accounts that integrate with your accounting software, eCommerce platforms, and other software your business already uses. 

• Sub-accounts: Find banks that offer sub-accounts, which help with budgeting for business goals and major expenses. For example, you can use one sub-account for payroll and another for equipment.

• Financing options: Consider a bank with financing options if you plan to expand. That said, this feature isn’t essential, since many lenders can send funds to your existing account at another bank.

No-fee business bank account vs a paid business bank account

Free business bank accounts offer many of the same banking features as paid accounts, but there are differences to note.

Hidden fees to watch out for in free business bank accounts

Free business bank accounts can carry hidden fees for certain transactions. Common fees to watch out for include:

• Wire fees: Some banks charge fees for incoming and outgoing wire transfers. Many banks charge extra fees for international wire transfers.

• Foreign transaction fees: If you make an international purchase with your debit card, you could get hit with a 1–3% foreign transaction fee. 

• Currency conversion fees: If you make or receive payments in a currency other than USD, FX conversion is usually required. Many banks charge large markups on the interbank FX rate.

• Overdraft fees: Traditional banks charge hefty fees if you overdraft your account. Many online banks have removed overdraft fees, but be sure to check.

• Fees for transactions over free limits: Some accounts set limits on the number of free transactions you can make each month and charge fees for each additional transaction.

What documents do I need to open a no-fee business bank account?

To open a business bank account, you’ll typically need to provide your: 

• Employer Identification Number (EIN) or Social Security number (SSN) for sole proprietors)

• Business name and address 

• Business formation documents, such as your Articles of Formation or Incorporation

• Name, address, and a government-issued photo ID for all owners and signers 

Some banks might require your operating agreement, business licensing and permits, and proof of business activity. 

Our methodology for choosing the best business banks with no fees

We evaluated more than 25 banks and financial platforms that either offer business accounts with no monthly fees or offer paid business bank accounts with fee waivers. 

We then compared providers based on fees, minimum balance requirements, free banking limits, support for international and cash transactions, financial management features, and business integrations. 

Explore different types of business bank accounts

Most "free" accounts aren't actually free once you hit a certain transaction volume. They often hide the costs in low deposit limits or charge you for the basic tools you need to scale. A true no-fee account should actually lower your overhead, skipping the monthly maintenance and ACH fees so you keep more of what you earn.

We provide more options below to fit your specific business needs:

• Business accounts for LLCs

• Business accounts for e-commerce

• Business accounts for international businesses

• Online business accounts

• Business accounts for small businesses

Frequently asked questions about the best business bank accounts with no fees

Are there really business checking accounts with no fees?

Yes, many business checking accounts charge no monthly fees and offer unlimited ACH transfers. These accounts may charge fees for certain types of transactions, like wire transfers, but you can bank completely free if you avoid these transactions.

Which bank has the fewest charges for a business account? 

Airwallex offers a completely free business account with no fees for ACH transfers, online bill pay, or corporate debit cards. It also offers free transfers to 120+ countries, no foreign transaction fees on debit card payments, and multi-currency accounts that avoid FX conversions and associated fees.

What is the best no-fee business bank for an LLC?

Airwallex is ideal for LLCs that have customers or suppliers abroad, thanks to its multi-currency support. If you need to handle cash and only operate in the US, Bluevine offers fee-free access to 40,000+ MoneyPass ATMs.

Can I open a no-fee business account with no deposit?

Yes, you can open a free business bank account with no minimum deposit required at Airwallex. Other providers offering fee-free accounts include Bluevine, Novo, and U.S. Bank.

Which business checking account has no minimum balance requirement?

There’s no minimum balance requirement for free business accounts at Airwallex. You can also keep a business checking account at Bluevine, Novo, or U.S. Bank with no minimum balance.

Who can open a free business account?

Any business owner with an EIN or sole proprietor with an SSN can open a free business bank account. You must provide ID and proof of your business’s formation, such as Articles of Incorporation or a business license.

What is a ‘Profit First’ bank? 

A “Profit First” bank is any business bank that supports the Profit First approach to financial management. This means setting aside your desired profit from every sale before using the funds to pay expenses. 

Sources

1. https://www.nfib.com/news/press-release/new-nfib-survey-small-businesses-rank-banking-operations-and-confidence-in-banking-system/ 

2. https://www.airwallex.com/us/pricing 

3. https://www.bluevine.com/business-checking/plans-and-pricing 

4. https://www.novo.co/business-banking 

5. https://www.usbank.com/business-banking/banking-products/business-bank-accounts/business-checking-account.htm l

6. https://business.bankofamerica.com/en/deposits/checking-accounts

7. https://www.chase.com/business/banking/checking/platinum-business-checking