Are you looking for the best online business bank account? With the rise of online-only banks, it’s important to compare your options to find the right fit for your business. But which one is truly the best? We’ve done the research for you and compared the top online business bank accounts so you can make an informed decision.
Key Takeaways:
- Bluevine Business Checking offers no fees and a competitive interest rate.
- LendingClub Tailored Checking provides streamlined business support and cash back on debit card purchases.
- Novo Business Checking offers special perks including Google Cloud credits and fee-free credit card transactions.
- Grasshopper Business Checking stands out for its debit card rewards and unlimited fee-free transactions.
- EverBank Business Checking caters specifically to sole proprietors and single-owner LLCs.
Bluevine Business Checking – Best for No Fees
When it comes to finding the ideal online business bank account, Bluevine Business Checking stands out as the top choice for entrepreneurs looking to minimize costs and maximize benefits. With its commitment to providing no fees and competitive features, Bluevine caters to the needs of businesses of all sizes.
One of the biggest advantages of Bluevine Business Checking is its fee structure, or rather, the lack thereof. Unlike many traditional banks that burden businesses with monthly maintenance fees, Bluevine offers a completely fee-free experience. This means no monthly fees, no minimum balance requirements, and no transaction limits to worry about.
Not only does Bluevine make banking convenient and affordable, but it also offers a competitive interest rate. With the ability to earn interest on your account balance, Bluevine ensures that your money is working for you. Whether you’re a small business owner or a larger enterprise, this competitive interest rate can help your funds grow with time.
But Bluevine Business Checking goes beyond offering no fees and a competitive interest rate. This online business bank account also provides a range of essential features to support entrepreneurs. Account holders have the flexibility to make deposits, order checkbooks, and manage transactions easily and efficiently.
To demonstrate the value of Bluevine Business Checking, here’s a table summarizing its key features:
| Key Features | Details |
|---|---|
| No Monthly Fees | No fees to worry about, including monthly maintenance fees. |
| Competitive Interest Rate | Earn interest on your balance and watch your funds grow. |
| No Transaction Limits | Enjoy the freedom to make as many transactions as your business requires. |
| Convenient Services | Make deposits, order checkbooks, and manage transactions easily. |
By choosing Bluevine Business Checking, entrepreneurs can focus on growing their business without the burden of unnecessary fees. It’s important to note that Bluevine is an online-only bank, which means that all transactions and account management are conducted through their user-friendly website or mobile app, providing convenience and accessibility.
So if you’re looking for an online business bank account that offers no fees, a competitive interest rate, and convenient services, Bluevine Business Checking is the right choice for you. Experience hassle-free banking and maximize your business’s financial potential with Bluevine.
LendingClub Tailored Checking – Best for Streamlined Business Support
When it comes to choosing the best online business bank account, LendingClub Tailored Checking stands out for its comprehensive range of features and dedicated support. With a focus on providing streamlined business support, this account offers a competitive APY on balances and additional benefits like cash back on qualifying debit card purchases.
One of the key advantages of LendingClub Tailored Checking is the convenience it offers business owners. The account allows for unlimited transactions, ensuring that you can manage your finances without any restrictions. Additionally, LendingClub Tailored Checking provides unlimited third-party ATM fee reimbursements, making it easy for you to access your funds wherever you are.
One of the standout features of LendingClub Tailored Checking is its integration with popular accounting software like Quicken and QuickBooks. This integration allows for seamless syncing of financial data, saving you time and effort in managing your business’s finances.
LendingClub Tailored Checking also offers an integrated invoicing and payment platform called Autobooks. This feature enables you to create and send professional invoices directly from your account, simplifying your billing processes and ensuring timely payments.
With a competitive interest rate and cash back rewards, LendingClub Tailored Checking is a top choice for business owners looking for a convenient and feature-rich online business bank account. Its integrated invoicing and comprehensive accounting integrations make it a valuable tool for streamlining your business operations.
Novo Business Checking – Best for Special Perks
If you are looking for an online business bank account with special perks, look no further than Novo Business Checking. Novo offers a range of benefits that can help boost your business and save you money.
Special Perks
Novo Business Checking goes above and beyond to provide unique advantages to its customers. Some of the special perks you can enjoy include:
- $3,000 in Google Cloud credits: Novo partners with Google Cloud to offer $3,000 worth of credits to help you grow your online presence and take advantage of Google’s powerful tools and services.
- $150 toward Google Ads: Novo Business Checking account holders receive $150 credit toward Google Ads, allowing you to promote your business and reach a wider audience.
- Discounts on QuickBooks Online: Streamline your accounting and bookkeeping processes with discounted access to QuickBooks Online, a popular platform trusted by businesses all over the world.
- Fee-free credit card transactions with Stripe: Novo has partnered with Stripe, a leading payment gateway provider, to offer fee-free credit card transactions. This can help you save money on payment processing fees and increase your bottom line.
With these special perks, Novo Business Checking aims to support and empower your business by providing valuable resources and cost-saving opportunities.
No Transaction Limits and ATM Fee Reimbursements
In addition to the special perks, Novo Business Checking also offers other attractive features. One standout feature is the absence of transaction limits. You can perform as many transactions as your business requires without worrying about any restrictions.
Furthermore, Novo Business Checking reimburses third-party ATM fees up to $7 per month. This means that even if you need to withdraw cash from an ATM that is not in Novo’s network, you will not incur additional fees, saving you money in the long run.
Novo Business Checking understands the importance of flexibility and convenience for businesses, and these features reflect their commitment to meeting your needs.
Grasshopper Business Checking – Best for Debit Card Rewards
Among the top online business bank accounts, Grasshopper Business Checking offers an enticing feature for entrepreneurs: debit card rewards. With their innovative rewards program, you can earn 1% cash back on every qualifying debit card purchase, making every transaction a rewarding experience.
What sets Grasshopper apart from the competition is not just the cash back, but also their commitment to customer satisfaction. They understand the needs of small businesses and have crafted an account that caters to those specific requirements.
One of the key advantages of Grasshopper Business Checking is that it eliminates unnecessary fees, a burden that can eat into your profits. There are no monthly fees, balance minimums, or overdraft fees, allowing you to keep more money in your business. This transparent fee structure ensures that you can focus on growing your business without worrying about unexpected charges.
The account offers unlimited fee-free transactions, enabling you to conduct business with ease. Whether it’s making payments, deposits, or routine banking activities, you can perform unlimited transactions without incurring any additional costs. This unlimited transaction feature allows you to manage your finances efficiently, saving you time and effort.
To provide added convenience, Grasshopper Business Checking also offers no fees for out-of-network ATM usage. This means that you can access your funds wherever you are, without worrying about excessive fees for using ATMs outside of Grasshopper’s network.
With its focus on debit card rewards, fee-free transactions, and flexibility, Grasshopper Business Checking is a reliable option for entrepreneurs seeking a business bank account that provides tangible benefits and supports their financial goals. Experience the rewards and convenience of Grasshopper Business Checking for your business today.
| Features | Grasshopper Business Checking |
|---|---|
| Debit Card Rewards | 1% cash back on qualifying purchases |
| Monthly Fees | No monthly fees |
| Balance Minimums | No balance minimums |
| Overdraft Fees | No overdraft fees |
| Transactions | Unlimited fee-free transactions |
| Out-of-Network ATM Fees | No fees for out-of-network ATM usage |
EverBank Business Checking – Best for Sole Proprietors and Single-Owner LLCs
EverBank Small Business Checking is the ideal online business bank account for sole proprietors and single-owner LLCs. This account is tailored to meet the specific banking needs of small businesses with a single owner. With EverBank Business Checking, you can enjoy all the benefits of an online business bank account while keeping your finances in order.
One of the standout features of EverBank Business Checking is that it offers the same APY on balances for all account holders. Whether you’re a sole proprietor or a single-owner LLC, you can earn competitive interest rates on your funds. This ensures that your money is working for you and helps your business grow.
Another advantage of EverBank Business Checking is that it doesn’t charge a monthly maintenance fee. This means that you can keep more money in your account and avoid unnecessary expenses. By eliminating monthly fees, EverBank ensures that your focus remains on your business’s success.
However, it’s worth noting that EverBank Business Checking requires a high minimum deposit to open the account. This may be a drawback for some businesses, especially those just starting or with limited funds. Nonetheless, if you’re able to meet the minimum deposit requirement, EverBank Business Checking provides a range of features and benefits that make it an excellent choice for sole proprietors and single-owner LLCs.
| Benefits | Features |
|---|---|
| No monthly maintenance fee | Keep more money in your account |
| Same APY on balances for all account holders | Earn competitive interest rates |
| Designed for sole proprietors and single-owner LLCs | Meet the specific needs of your business |
With EverBank Business Checking, sole proprietors and single-owner LLCs can enjoy the convenience and flexibility of an online business bank account without having to worry about monthly fees. By providing competitive interest rates and catering to the unique requirements of small businesses, EverBank is a top choice for entrepreneurs looking to manage their finances effectively.
Conclusion
When it comes to online business bank accounts, it’s crucial to compare various options and choose the one that best suits your banking needs. Factors such as fees, interest rates, perks, and support should be considered before making a decision.
Based on our analysis, the top picks for online business bank accounts are Bluevine Business Checking, LendingClub Tailored Checking, Novo Business Checking, Grasshopper Business Checking, and EverBank Business Checking.
Bluevine Business Checking stands out for its no fees policy and competitive interest rate. LendingClub Tailored Checking offers streamlined business support and integrates seamlessly with accounting software. Novo Business Checking provides attractive special perks, such as Google Cloud credits and fee-free credit card transactions. Grasshopper Business Checking rewards you with cash back on qualifying debit card purchases. Lastly, EverBank Business Checking caters specifically to sole proprietors and single-owner LLCs.
Consider your specific banking requirements and select the account that aligns perfectly with your business needs. Whether you prioritize fee-free accounts, streamlined support, special perks, debit card rewards, or catered services for sole proprietors and single-owner LLCs, there is an online business bank account that will meet your expectations.
FAQ
Are there any fees associated with Bluevine Business Checking?
No, Bluevine Business Checking does not have any monthly fees, minimum balance requirements, or transaction limits.
What is the competitive interest rate offered by Bluevine Business Checking?
Bluevine Business Checking provides a competitive interest rate on balances up to 0,000. By meeting monthly activity goals, standard account holders can earn a 2.00% APY. Premier account holders can unlock even higher APY.
What are the features of LendingClub Tailored Checking?
LendingClub Tailored Checking offers a competitive APY on balances and earns cash back on qualifying debit card purchases. The account also has unlimited transactions, unlimited third-party ATM fee reimbursements, and integrates with software like Quicken and QuickBooks for streamlined accounting. It features a built-in invoicing and payment platform called Autobooks.
What special perks does Novo Business Checking offer?
Novo Business Checking offers various perks including ,000 in Google Cloud credits, 0 toward Google Ads, and discounts on QuickBooks Online. It also provides fee-free credit card transactions with Stripe and has no transaction limits. Additionally, it reimburses third-party ATM fees up to per month.
What are the rewards provided by Grasshopper Business Checking?
Grasshopper Business Checking gives 1% cash back on qualifying debit card purchases. The account has no monthly fees, balance minimums, or overdraft fees. It offers unlimited fee-free transactions and does not charge fees for out-of-network ATM usage.
Which businesses is EverBank Business Checking designed for?
EverBank Business Checking is designed specifically for sole proprietors and single-owner LLCs. It offers the same APY on balances for all account holders and does not charge a monthly maintenance fee. However, there is a high minimum deposit required to open the account.
How should I choose the best online business bank account for my needs?
When comparing online business bank accounts, consider factors such as fees, interest rates, perks, and support for your specific business needs. The best options according to CNBC Select are Bluevine Business Checking for no fees, LendingClub Tailored Checking for streamlined support, Novo Business Checking for special perks, Grasshopper Business Checking for debit card rewards, and EverBank Business Checking for sole proprietors and single-owner LLCs. Assess your business’s requirements and choose the account that aligns with your banking needs.
