Technology has continued to transform business banking in recent years. Many non-bank companies with FDIC-insured banking partners now offer low-cost online banking services. Meanwhile, traditional banks have expanded their digital offerings to stay competitive. As a result, business owners have no shortage of online checking account options. In fact, there are so many that choosing one can be difficult. To help you find the right fit, we’ve rounded up seven of the best online business checking accounts of 2026 Read on to learn which providers made the list, their offerings, and what each is best for.
| Monthly Fee | APY | FDIC | Cash Deposits | Best For | |
| Lili | Checking: $0* Savings: $0 (included with checking) | Checking: No Savings: 2.25% on balances up to $500K, then 4.00% for balances up to $1M | $3M through partner banks and their sweep networks | Yes, at 90,000+ Green Dot locations | Most small businesses |
| Mercury | Checking: $0*Savings: $0 (included with checking) | Checking: No Savings: No | $5M through partner banks and their sweep networks | Not supported | Free wire transfers |
| Bluevine | Checking: $0, $30, $95, waivers available Savings: NA | Checking: 1.3% on balances up to $250K with Standard; 1.75% on balances up to $250K with Plus; 3% APY on all balances with Premier, conditions apply Savings: NA | $3M through partner banks and their sweep networks | Yes, at Allpoint ATMs and 90,000+ Green Dot locations | Checking balances from $100,000 to $500,000 |
| Relay | Checking: $0, $30, $120 Savings: $0 (included with checking) | Checking: No Savings: 1.19% on Starter, 1.87% on Grow, 3.21% on Scale | $3M through partner banks and their sweep networks | Yes, at Allpoint ATMs and 90,000+ Green Dot locations | The Profit First Method |
| Chase | Checking: $15 to $95, waivers available Savings: $10 to $20, waivers available | Checking: No Savings: Up to 0.02% | $250,000 standard limit | Yes, ATMs and 5,000+ branches | Large, frequent cash deposits |
| AmEx | Checking: $0Savings: $0 | Checking: 1% APY on balances up to $500K Savings: 3.05% | $250,000 standard limit | Not supported | Rewards on checking and welcome bonus |
| Grasshopper | Checking: $0Savings: $0 | Checking: 1% APY on balances up to $24,999, 1.35% APY on balances from $25K to $250K, 1% APY on balances above $250KSavings: 1.55% APY on balances up to $24,999. 3% APY on balances of $25,000 or more. | Up to $125M | Yes, MoneyPass ATMs | Holding balances over $5M |
*Higher tier pricing plans are available, but they don’t impact these banking features.
7 Top Online Business Checking Accounts 2026
Here’s a closer look at seven of the top online business checking accounts of 2026
Lili: Best all-in-one solution
Lili offers an online business checking account with no monthly service fee, no minimum deposit requirement, and up to $3 million in FDIC insurance. Once you open the account, you’ll receive a Visa debit card you can use wherever Visa is accepted. Lili also offers fee-free withdrawals at over 40,000 MoneyPass ATMs.
Along with Lili’s checking account, you’ll get a business savings account that pays a competitive 2.25% APY on balances up to $500,000 and 4.00% APY on balances from $500,001 to $1 million. You can fund your Lili checking account through ACH transfers, mobile check deposits, wire transfers, payment apps, and cash deposits at over 90,000 Green Dot locations. Then, you can transfer money from your checking account to your savings, either manually or automatically.
Lili also supports international wires in over 140 currencies, domestic wires with competitive fees, Express ACH payments, and expedited check deposits. Meanwhile, customers gain access to Lili’s network of lending partners that provide business loans and lines of credit.
If you have questions or concerns about your account, live customer support is available seven days per week (only via email on weekends). Further, if you want more financial features, you can upgrade to unlock business credit building, accounting and tax software, and premier priority service.
Mercury: Best for wire transfers
Mercury offers an online business checking account with no monthly service fee, no minimum balance requirement, and up to $5 million in FDIC insurance coverage. The account also includes a savings account and a Mastercard debit card.
However, Mercury has a few marked shortfalls. The company doesn’t offer an APY on its checking or savings accounts, doesn’t support cash deposits, and doesn’t have an ATM network. That said, it does offer free domestic and international USD wires, which is rare. So, if you’ll be processing frequent wire transfers, the savings may be worth it.
Another standout feature of the free Mercury plan is access to APYs above 3% through Mercury Treasury once you have a balance of at least $250,000 across your Mercury accounts. As for customer support, you can call a live agent during business hours on weekdays, email anytime, or message online 24/7.
Bluevine: Best for checking balances from $100,000 to $500,000
Bluevine offers three tiers of interest-earning business checking accounts. The Standard account has no monthly fee and pays a 1.3% APY on balances up to $250,000. However, you only receive the APY if you spend at least $500 with your Bluevine debit or credit card, or receive or deposit at least $2,500 in qualifying client payments each billing period.
The Plus plan costs $30 per month and pays a 1.75% APY on balances up to $250,000, and the Premier plan costs $95 per month and pays a 3% APY on all balances. While the higher APYs require a monthly fee, Bluevine waives the fee when the following conditions are met:
- Plus Plan: Maintain an average daily balance of $20,000 and spend at least $2,000 with your Bluevine debit card in a given billing period.
- Premier Plan: Maintain an average daily balance of $100,000 and spend at least $5,000 with your debit card in a given billing period.
Beyond APYs, Bluevine offers up to $3 million in FDIC insurance, up to 50 sub-accounts, Treasury services, and invoicing software. The company also supports cash deposits at Allpoint+ Cash Deposit ATMs and Green Dot locations, along with surcharge-free withdrawals at MoneyPass ATMs.
Relay: Best for the Profit First method
Relay also offers three tiers of online business checking accounts. However, unlike Bluevine, it pays interest on funds in savings and doesn’t offer monthly fee waivers. The base Starter plan has no monthly fee and a 1.19% APY; the Grow plan has a $30 monthly fee and a 1.87% APY; and the Scale plan has a $120 monthly fee and a 3.21% APY.
One notable fact about Relay is that it’s the official banking platform for Profit First, a cash management method that involves allocating funds to profit before any other expenses. You can set up 20 to 50 sub-accounts per business, assign each account a different spending category, and automate transfer rules.
Relay also offers up to $3 million in FDIC insurance, surcharge-free withdrawals at Allpoint ATMs, and cash deposits at over 90,000 Green Dot retail locations. Other perks include software for bill, expense, and invoice management—although access varies by plan.
Chase: Best for large, frequent cash deposits
Chase offers checking and savings accounts for small businesses. However, you don’t automatically get a savings account with a checking account. They are two separate offerings.
The checking account lineup includes three account tiers. The first is Chase Business Complete Banking® for $15 per month. The second is Chase Performance Business Checking® for $40 per month. The third is Chase Platinum Business Checking® for $95 per month.
The main differences between the plans are the number of fee-free debits and deposits you can make with a banker, and the amount of cash you can deposit at a branch without a fee. Additionally, as the monthly fee increases, the fee waiver requires higher minimum balances.
While Chase offers online banking features, these accounts typically only make sense if you want to conduct regular transactions in a physical branch. They lack the competitive APYs, low fees, expanded FDIC insurance, and innovative financial tools of other options.
American Express: Best for rewards on checking
American Express offers a standalone checking account with no monthly service fee, no minimum deposit requirement, and the standard $250,000 of FDIC deposit insurance. The account includes an American Express rewards debit card that earns one point for every $2 you spend on eligible purchases.
You also get fee-free access to Allpoint and MoneyPass ATMs, and earn a 1% APY on balances up to $500,000. Another perk is a large welcome bonus of 35,000 points if you make at least $5,000 in eligible deposits within 30 days, maintain an average daily balance of at least $5,000 for 60 days, and complete five qualifying transactions within 60 days.
On the downside, this account doesn’t support cash deposits or have a suite of financial tools. It also doesn’t include a savings account automatically. However, you can open a savings account with no monthly fee and earn a 3.05% APY on your balance.
Grasshopper: Best for high FDIC deposit insurance
Grasshopper offers a standalone business checking account with no monthly service fee and up to $125 million in FDIC deposit insurance coverage—making it a great fit for businesses with account balances over $5 million. On the downside, the company requires a $100 deposit to open the account.
Once the account is open, each account holder gets a Visa debit card that earns 1% cash back on qualifying purchases. You can also make surcharge-free withdrawals at MoneyPass and SUM ATMs, and deposits at select MoneyPass ATMs. As for APYs, you’ll earn a 1% APY on checking balances up to $24,999 and over $250,000, and a 1.35% APY on balances from $25,000 to $250,000.
Checking APY vs. Savings APY
Online business checking account providers differ in how they pay interest. You may come across a variety of offerings, including:
- Checking APY: Companies only pay interest on checking account balances. Example: Bluevine.
- Savings APY: Companies only pay interest on savings account balances. Example: Lili, Relay, and Chase.
- Both: Companies pay interest on both checking and savings account balances. Example: Grasshopper and AmEx.
- Other: Companies offer alternative ways to earn a return on your cash, such as through Treasury products or money market accounts. Example: Mercury.
To decide which option is best for your business, consider where you typically keep your money and how often you need to access it. For example, if you maintain a high checking balance to cover ongoing expenses, a checking APY may offer more value. On the other hand, if you keep excess cash in reserve, you may benefit more from a competitive savings APY. You’ll also want to compare the APYs providers offer, along with any balance, activity, or other requirements you must meet to earn them.
How FDIC Insurance Really Works
The Federal Deposit Insurance Corporation (FDIC) is an independent U.S. government agency that aims to maintain stability and public confidence in the U.S. financial system. One of its primary functions is to provide deposit insurance to FDIC member banks. Banks can apply to become FDIC members during the charter process and, upon approval, gain active deposit insurance.
The standard amount of FDIC insurance is $250,000 per depositor, per deposit account ownership category at each FDIC-insured bank. If a bank fails, the FDIC reimburses depositors from the Deposit Insurance Fund (DIF), which is funded by the insurance premiums of member banks and interest earned from Treasury notes.
While the standard FDIC insurance limit is $250,000, some bank account providers offer access to higher coverage limits through sweep networks. Sweep networks spread deposits across multiple FDIC-insured partner banks, and each provides coverage according to the standard rules. Meanwhile, the account holder continues to manage a single account with their primary account provider.
Can You Deposit Cash Into An Online Business Checking Account?
Another important factor to consider is whether you need to deposit cash into your account and, if so, how much and how often. Unlike traditional brick-and-mortar banks, many nonbank providers of online bank accounts don’t have physical branches. As a result, they may not support cash deposits at all, or only support them in a limited capacity.
Those that do allow cash deposits typically do so through two approaches. First, they may partner with a cash deposit network like Green Dot, which lets account holders make deposits at retail locations. Second, they may allow cash deposits at certain compatible ATMs. However, the deposit limits tend to be relatively low, and transaction fees often apply.
If your business needs to deposit large sums of cash regularly, look for a bank that makes that process easy and affordable. For example, Chase offers an online business checking account and also has more than 5,000 branches across the U.S. However, Chase’s fees are generally higher than the other providers on this list, so you’ll need to run the numbers to ensure the overall cost is competitive.
Non-U.S. Founder Onboarding
If you aren’t a U.S. citizen but have a business registered in the U.S., you may still be able to get a U.S. business bank account. However, it depends on the provider you choose. Many support foreign founders, but only approve applicants from a list of eligible countries. If you’re eligible, you can often apply and complete the process online with a foreign passport and an EIN, rather than needing a U.S. Social Security number and U.S.-issued ID.
How to Choose the Best Online Checking Account for Your Business
To find the best online checking account for your business, you’ll need to assess your needs and identify which providers can best meet them. The following questions can help you get started and narrow down your options. Before beginning, write down the names of the seven providers: Lili, Mercury, Bluevine, Relay, Chase, AmEx, and Grasshopper.
1. Are you a non-U.S. resident with a business registered in the U.S. looking to open an account remotely?
YES: Eliminate Chase, AmEx, and Grasshopper. Proceed to Q2.
NO: Proceed to Q2.
2. Do you need to deposit cash regularly?
YES: Eliminate Mercury and AmEx. Proceed to Q3.
NO: Proceed to Q3.
3. Are you looking for a competitive APY on your checking and/or savings account?
YES: Eliminate Chase and Mercury. Proceed to Q4.
NO: Proceed to Q4.
4. Will you hold more than $250,000 in your account?
YES: Eliminate Chase and AmEx. Proceed to Q5.
NO: Proceed to Q5.
5. Do you want a business savings account with no monthly fee to accompany your business checking account?
YES: Eliminate Bluevine and Chase. Proceed to Q6.
NO: Proceed to Q6.
6. Do you want surcharge-free withdrawals at in-network ATMs?
YES: Eliminate Mercury.
NO: Review the remaining bank account options.
4 Common Mistakes to Avoid
Before you make your final decision and open an online checking account, here are four common mistakes to ensure you avoid:
- Chasing the headline APY: Headline APYs (“earn up to x%”) can be appealing but also deceiving. Be sure to read the fine print so you fully understand what’s required to earn the APY. Headline APYs are often only available once you reach a certain minimum balance or upgrade to a paid plan.
- Ignoring your total costs: Be sure to review a provider’s full fee schedule and identify which fees are likely to apply to your business. Costs such as wire transfer fees, foreign transaction fees, overdraft fees, and ATM fees can add up, potentially making an otherwise attractive account more expensive than other options for you.
- Overlooking FDIC limits: A bank account provider’s FDIC coverage limits the amount of funds that are protected in the event of a bank failure. If you overlook the limit and deposit more than is covered, you risk losing the amount that exceeds the limit.
- Choosing a cash-free account for a cash business: If your business regularly receives cash payments, make sure your account offers a convenient way to deposit it. Choosing an account that doesn’t—or has limited or costly deposit options—can leave you needing to switch accounts or open an additional one.
How Lili Helps
At Lili, we provide small business owners with the accounts, financial tools, and support you need to seamlessly manage your finances. Our platform brings banking, savings, tax, credit, and accounting tools together, allowing you to see everything in one user-friendly dashboard. Lili also supports remote account openings for eligible non-U.S. founders, making it a potential option for foreigners based abroad. In many cases, you can apply, get a decision, and start exploring your new checking account within minutes.
Get started with Lili!
FAQ
Find quick answers to common questions about online business checking accounts.
Which bank is best for an online business account?
The best online business bank account depends on your business and specific situation. The seven companies highlighted in this article can each be best in different situations. For example, Lili is a great all-in-one solution for banking and financial operations, while Relay can be best if you want to use the Profit First cash management method.
Is there a free bank account for small businesses?
All small business bank account providers charge fees for different transactions and services, so there’s no such thing as a “free” bank account. But you can find many online bank account options with no monthly service fees and competitive fee schedules.
Can I open a business bank account using only an EIN?
Business bank account providers commonly require an EIN, although some allow sole proprietors to use an SSN instead. However, you’ll also typically need to provide basic information about the business and its owners, government-issued identification for the primary owners, formation documents (if applicable), and possibly other verification documents.
How much money do I need to open a small business bank account?
You may not need any money to open a small business bank account. However, minimum deposit requirements vary by provider, so check the account terms before applying.
Is it hard to get approved for a business bank account?
Getting approved for a business bank account can be relatively straightforward, especially since many online providers streamline the application process. However, you’ll need to meet certain eligibility and documentation requirements, which can vary by provider and situation.
What is the fastest way to open a business bank account?
Applying online is often the fastest way to open a business bank account. Many online providers offer fully digital applications that can be completed within a few minutes. Providers may also approve your application and open your account quickly, but application requirements and approval timelines vary by provider.
