Quick Comparison
All June 2026 business checking accounts compared at a glance.
| Bank | Monthly Fee | APY | Min Balance | Key Feature | Cash Deposits |
|---|---|---|---|---|---|
| Novo ★ | $0 | — | $0 | Invoicing + Stripe payouts | No |
| Mercury | $0 | — | $0 | $5M FDIC + free wires | No |
| Relay | $0 | — | $0 | 20 sub-accounts | Yes (Allpoint) |
| Bluevine | $0 | Up to 2.0% | $0 | Interest on checking | Yes (Green Dot) |
| Holdings | $0 | 1.75% | $0 | 50+ built-in tools | No |
| Chase | $15* | — | $2K to waive fee | Branch access | Yes ($5K free/mo) |
| Lili | $0 | Up to 2.0%* | $0 | Auto tax savings | No |
| Axos | $0 | — | $0 | Free checks | No |
* Chase fee waived with $2K balance. Lili APY requires paid plan. Rates as of June 5, 2026.
Detailed Reviews
In-depth look at each account — features, fees, and who it's best for.
Novo
Highlights
- No minimum balance, no hidden fees
- Built-in invoicing — unlimited, free
- Reserves feature for tax/expense buckets
- Instant Stripe & Square payout deposits
- Connects to PayPal, QuickBooks, Shopify
Watch Out For
- No physical branches or cash deposits
- No interest earned on balances
- Fewer team/multi-user features than Relay
Mercury
Highlights
- $5M+ FDIC coverage via partner banks
- Free domestic & international wires
- Developer-friendly API
- Mercury Treasury for yield on idle cash
- Clean, modern dashboard
Watch Out For
- No physical branches
- No cash deposits
- No built-in invoicing
Relay
Highlights
- Up to 20 checking accounts under one login
- 50 physical & virtual debit cards
- Role-based team permissions
- Deep QuickBooks & Xero integration
- Cash deposits via Allpoint network
Watch Out For
- No interest on checking balances
- Same-day ACH requires $30/mo Pro plan
- Some reports of frozen accounts
Bluevine
Highlights
- Up to 2.0% APY on balances to $250K (with qualifying activity)
- Unlimited transactions on free Standard plan
- Access to business lines of credit
- Cash deposits via Green Dot retail network
Watch Out For
- 2.0% rate requires $500/mo debit spend or $2,500/mo incoming payments
- Standard rate is 1.30% APY without qualifying activity
- Fintech, not a bank — insurance via partner banks
Holdings
Highlights
- 1.75% APY with no requirements
- 50+ built-in business tools (invoicing, reporting, receipts)
- FDIC coverage up to $3M
- No minimum balance or monthly fees
Watch Out For
- Newer company — less track record
- No physical branches
- No cash deposit option
Chase Business Complete
Highlights
- 6,000+ branch locations nationwide
- Unlimited electronic deposits
- Chase QuickAccept for card payments
- Integrates with Chase business credit cards & lending
- Robust fraud protection
Watch Out For
- $15/mo fee (waived with $2K balance or $2K in Chase card purchases)
- 100 free paper transactions/mo — $0.40 each after
- Limited free cash deposits ($5K/mo)
Lili
Highlights
- Automatic tax savings bucket (% of each deposit)
- Real-time expense categorization
- Up to 2.0% APY on paid plans
- No minimum balance
Watch Out For
- 2.0% APY only on premium plans ($5–$9/mo)
- No cash deposits
- Smaller ATM network than competitors
Axos Basic Business Checking
Highlights
- No monthly fee or minimum balance
- 50 free domestic checks per order
- Free online bill pay
- Mobile check deposit
Watch Out For
- No interest earned
- No sub-accounts or advanced features
- Limited integrations compared to fintechs
How to Choose a Business Checking Account
The right business checking account depends on how you operate. If you're a freelancer or solopreneur who invoices clients and receives Stripe or Square payments, Novo is purpose-built for you — its instant payout deposits and unlimited invoicing are unmatched at $0/month.
If you're running a funded startup with wire-heavy operations, Mercury saves hundreds per year in wire fees alone. If you practice Profit First budgeting and need multiple expense buckets, Relay's 20-account system is genuinely unique.
For businesses that keep significant cash on hand and want yield, Bluevine (up to 2.0%) or Holdings (1.75% no-strings) are the standouts. And if you need to deposit cash regularly, Chase remains the only option with thousands of branches — but you'll pay $15/month for the privilege unless you maintain a $2K balance.
Whichever you choose, keep your business and personal finances completely separate. It simplifies taxes, strengthens liability protection, and looks more professional to clients and vendors.
Methodology
We evaluated each business checking account on: monthly fees, minimum balance requirements, transaction limits, APY (if any), integrations, invoicing tools, cash deposit options, FDIC coverage, and real user feedback. Our Editor's Pick reflects the best overall value for the majority of small businesses and freelancers. Accounts are listed in editorial order, not by compensation.