Best Free Business Checking Accounts in 2026 (Compared)

Opening a business bank account shouldn't cost you money before you've made any. Yet most traditional banks still charge $10–$30/month in maintenance fees — fees that add up to $120–$360/year for the privilege of holding your own cash.

The good news: several banks and fintech platforms now offer genuinely free business checking with no monthly fees, no minimum balance requirements, and features that used to cost extra — like invoicing, sub-accounts, and even interest on your balance.

We compared the top free business checking accounts available in 2026 to help you find the right fit. Whether you're a freelancer, startup founder, e-commerce seller, or nonprofit, there's a $0/month option that works.

Quick Comparison: Best Free Business Checking 2026

Feature	Holdings	Bluevine	Novo	Mercury	Relay	Lili	Chase
Monthly Fee	$0	$0	$0	$0	$0	$0	$15 (waivable)
Min Balance	$0	$0	$0	$0	$0	$0	$2,000 to waive fee
APY	1.75%	Up to 1.30%	0%	0%	0%	Up to 2.0%	0%
FDIC Coverage	Up to $3M	Up to $3M	$250K	Up to $5M	$250K	$250K	$250K
Free Tools	35+ (invoicing, reports, banking)	Invoicing, payments	Invoicing, reserves	Invoicing, API access	20 checking accounts	Expense categorization	Basic online banking
Accounting Built-In	✅ ($25/mo add-on)	❌	❌	❌	❌	❌	❌
Sub-Accounts	Unlimited	Up to 5	Reserves (virtual)	Multiple accounts	Up to 20	❌	❌
Cash Deposits	❌	Green Dot / Allpoint+	❌	❌	Allpoint+	Green Dot	✅ Branch
Free Wires	Domestic	❌	❌	✅ Domestic + Intl	❌	❌	❌
Best For	All-in-one banking + tools	High-yield checking	Simple no-frills banking	Startups & tech	Cash flow management	Freelancers	Branch access

Detailed Reviews

1. Holdings — Best Overall Free Business Checking

Monthly fee: $0 APY: 1.75% FDIC: Up to $3M (via i3 Bank)

Holdings is the only free business checking account that comes with 50+ built-in business tools — invoice generator, saved reports, receipt management, and more — at no extra cost. Most banks make you pay for accounting software separately. Holdings gives you the tools to run your business finances from one dashboard.

What makes Holdings different:

Free business banking at every tier. Whether you're on the Free plan or the Services plan, banking is always $0/month.
1.75% APY on all balances. No hoops, no minimum spend requirements. Your money earns interest from day one.
FDIC insured up to $3M. Through i3 Bank, your deposits are protected well beyond the standard $250K limit.
57 free tools. Invoice generator, financial reports, receipt capture, and more. No separate subscriptions needed.
Optional accounting for $25/mo. When you're ready for double-entry accounting, P&L statements, and bank reconciliation, Holdings Software is $25/month — less than QuickBooks.
Automated bookkeeping for $59/mo. Or free if you keep $10K+ in your banking balance. Smart categorization, monthly close, cash flow forecasts.

Best for: Small businesses, freelancers, nonprofits, and anyone who wants free banking plus free tools without duct-taping five different apps together.

Potential drawbacks: No physical branches. No cash deposit option. Newer platform compared to legacy banks.

Get started free →

2. Bluevine — Best for High-Yield Interest

Monthly fee: $0 (Standard plan) APY: Up to 1.30% FDIC: Up to $3M

Bluevine has been a go-to for small business checking since launching its banking product. The Standard plan is genuinely free and earns up to 1.30% APY — though you need to meet monthly spending or deposit requirements to qualify for that rate.

No monthly fees, no minimums, no overdraft fees on Standard plan
Unlimited domestic transactions
Up to 5 sub-accounts for organizing finances
Invoicing and payment acceptance tools built in
Free MoneyPass ATM network access
Cash deposits at Green Dot and Allpoint+ locations

Best for: Small businesses that maintain a balance and want to earn competitive interest without paying for a premium plan.

Potential drawbacks: APY requires qualifying activity ($500/mo debit spend or $2,500/mo in deposits). Higher-yield plans (Plus at $30/mo, Premier at $95/mo) have monthly fees. Cash deposit fees may apply at retail locations.

3. Novo — Best for Simple, No-Frills Banking

Monthly fee: $0 APY: 0% FDIC: $250K

Novo keeps things simple: free checking, free invoicing, and a clean interface. No interest on deposits, but also no hidden fees or complex tier structures.

No monthly fees, no minimum balance
Free unlimited invoicing
Novo Reserves — virtual sub-accounts for budgeting (taxes, payroll, etc.)
Integrations with Stripe, QuickBooks, Shopify, Square, and more
Up to $7/month ATM fee reimbursement
Mail checks directly from the platform

Best for: Small business owners who want simple, reliable banking with strong integrations and don't care about earning interest.

Potential drawbacks: 0% APY — your money doesn't earn anything. No cash deposits. Customer support is primarily email-based. Standard $250K FDIC coverage.

4. Mercury — Best for Startups and Tech Companies

Monthly fee: $0 APY: 0% (Treasury for $250K+) FDIC: Up to $5M

Mercury is built for startups and tech-forward businesses. The platform is sleek, the API access is best-in-class, and free domestic + international wires make it ideal for companies with global operations.

No monthly fees, no minimums, no overdraft fees
Free domestic and international USD wires
Free ACH transfers
Up to $5M FDIC coverage through partner bank network
Developer API for custom integrations
Invoicing, expense management, and accounting integrations
Corporate cards with up to 1.5% cash back (no personal guarantee)

Best for: Venture-backed startups, tech companies, and businesses with international payment needs.

Potential drawbacks: No cash deposits. No physical branches. Treasury (yield) requires $250K minimum. Not ideal for cash-heavy businesses.

5. Relay — Best for Cash Flow Management

Monthly fee: $0 (Starter plan) APY: 0% FDIC: $250K

Relay's standout feature is the ability to open up to 20 checking accounts under one business — making it a favorite for businesses using the Profit First method or anyone who wants to separate funds for taxes, payroll, operating expenses, and more.

Up to 20 checking accounts on the free Starter plan
Up to 50 debit cards with customizable spending limits
No monthly fees, no minimums
Cash deposits via Allpoint+ network
QuickBooks Online and Xero integration
Free incoming wires

Best for: Businesses that use the Profit First budgeting system, agencies managing multiple projects, or anyone who thrives on financial compartmentalization.

Potential drawbacks: 0% APY. Standard $250K FDIC coverage. Outgoing wire fees apply. Some advanced features require the Pro plan ($30/mo).

6. Lili — Best for Freelancers and Solopreneurs

Monthly fee: $0 (Core plan) APY: Up to 2.0% (paid plans) FDIC: $250K

Lili is designed specifically for freelancers and sole proprietors. The mobile-first experience includes automatic expense categorization, receipt capture, and a tax savings feature that sets aside a percentage of every deposit for estimated taxes.

No monthly fees on Core plan
Automatic expense categorization
Tax bucket — automatically set aside a percentage for taxes
Receipt capture and storage
Free invoicing on paid plans
Mobile-first design

Best for: Freelancers, gig workers, and solopreneurs who want a bank account that helps with tax prep and expense tracking out of the box.

Potential drawbacks: Best features (invoicing, higher APY, cash back) locked behind paid plans ($9–$39/mo). Limited integrations compared to competitors. Not ideal for multi-person businesses.

7. Chase Business Complete Banking — Best for Branch Access

Monthly fee: $15/month (waivable with $2,000 balance) APY: 0% FDIC: $250K

Chase is the largest bank in the U.S. and offers the widest branch network. If you deposit cash regularly or prefer face-to-face banking, Chase is hard to beat — but you'll need to maintain a $2,000 balance to avoid the monthly fee.

4,700+ branches, 16,000+ ATMs nationwide
Cash and check deposits at branches
Chase Ink business credit cards for rewards
QuickAccept for card payments via phone
Same-day deposits on card payments

Best for: Businesses that handle cash, want in-person support, or need the reliability and lending options of a major national bank.

Potential drawbacks: $15/month fee unless you maintain a $2,000 balance. 0% APY. Limited free transactions (100 per month, then $0.40 each). Wire transfer fees. Not truly "free" for most small businesses.

How to Choose the Right Free Business Checking Account

If you want free tools + banking in one place → Holdings
No other free checking account includes 57 free tools. Invoice generator, financial reports, receipt management — all free. Plus 1.75% APY and $3M FDIC coverage.

If earning interest is your top priority → Bluevine or Lili
Bluevine's Standard plan earns 1.30% APY (with qualifying activity). Lili's paid plans offer up to 2.0% APY. Holdings earns 1.75% with no requirements.

If you just need simple, reliable banking → Novo
Clean interface, strong integrations, no complexity. Novo does one thing well.

If you're a funded startup → Mercury
Free wires (domestic + international), API access, $5M FDIC, and a platform built for tech companies.

If you manage cash flow with multiple buckets → Relay
20 free checking accounts on the Starter plan. Perfect for Profit First practitioners.

If you need branch access → Chase
Only option with a massive branch network. But it's not free unless you maintain a $2K balance.

What to Watch Out For: Hidden Fees

"Free" business checking can still cost you. Here's what to check before signing up:

Wire transfer fees. Many "free" accounts charge $15–$30 for outgoing wires. Mercury and Holdings offer free domestic wires.
Cash deposit fees. If you deposit cash at retail locations (Green Dot, Allpoint+), fees can range from $1–$5 per deposit.
ATM fees. Make sure the bank's free ATM network covers your area. Out-of-network ATM fees are typically $2.50+.
Transaction limits. Some banks limit free transactions per month. Chase caps at 100/month on its base plan.
Minimum balance requirements. "Waivable" fees require maintaining a balance. That's your money locked up, not truly free.
Feature paywalls. Some banks lock invoicing, expense tracking, or higher APY behind paid tiers.

Holdings Pricing

Free

Business banking, 57 free tools, 1.75% APY, $3M FDIC. No catch.

$25/mo

Software

Double-entry accounting, P&L statements, bank reconciliation. Less than QuickBooks.

$59/mo

Services

Automated bookkeeping, monthly close, cash flow forecasts. Free with $10K+ balance.

Frequently Asked Questions

Can I open a free business checking account online? ▾

Yes. All seven accounts listed here can be opened online. Holdings, Bluevine, Novo, Mercury, Relay, and Lili are fully digital — you can open an account in under 10 minutes. Chase also offers online applications but may require a branch visit to finalize.

Do I need an EIN to open a business checking account? ▾

Not always. Sole proprietors can typically open a business checking account with just their Social Security Number (SSN). LLCs, corporations, and nonprofits will need their EIN. Most banks accept both.

Is my money safe in an online business bank account? ▾

Yes, as long as the account is FDIC insured. All accounts listed here are FDIC insured — Holdings and Bluevine offer up to $3M in coverage, Mercury up to $5M, and others at the standard $250K.

Can I earn interest on a free business checking account? ▾

Yes. Holdings offers 1.75% APY with no requirements. Bluevine's Standard plan offers up to 1.30% APY with qualifying activity. Lili's paid plans offer up to 2.0%. Novo, Mercury, Relay, and Chase do not pay interest on checking balances.

What's the best free business checking account for a freelancer? ▾

Holdings or Lili. Holdings gives you 57 free tools (including an invoice generator) plus 1.75% APY. Lili is mobile-first with automatic expense categorization and tax savings. Both are designed for solo operators.

What's the best free business checking account for a nonprofit? ▾

Holdings. Free banking at every tier, 1.75% APY, FDIC coverage up to $3M, and unlimited sub-accounts for tracking different funds, grants, or programs. Many nonprofits use multiple sub-accounts to separate restricted and unrestricted funds.

Can I deposit cash with a free business checking account? ▾

It depends. Bluevine and Relay offer cash deposits through retail networks (Green Dot, Allpoint+), though fees may apply. Chase offers free cash deposits at branches. Holdings, Novo, Mercury, and Lili do not currently support cash deposits.

Do free business checking accounts come with debit cards? ▾

Yes. All seven accounts include a business debit card — either physical, virtual, or both. Relay offers up to 50 debit cards with customizable spending limits.

The Bottom Line

You shouldn't pay $15–$30/month just to have a business bank account. In 2026, the best free business checking accounts offer more than just fee-free banking — they include tools that help you actually run your business.

Holdings stands out as the best overall choice. Free banking, 1.75% APY, 50+ built-in business tools, and FDIC coverage up to $3M. It's the only free checking account that eliminates the need for separate invoicing and reporting software.

Banking services provided by i3 Bank, Member FDIC. Holdings is a financial technology company, not a bank. FDIC insurance coverage up to $3,000,000 through i3 Bank. 1.75% APY subject to change. See getholdings.com for details.