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The Best Business Bank Accounts

The 10 Best Business Bank Accounts

Where Should You Open a Business Bank Account?

The answer to this question depends on a lot of factors. How mature is your business in terms of growth and revenue? How do your customers pay you? How do you pay your vendors? Do you expect to earn interest on the money you hold in your checking account? Can you afford to pay fees on transactions?

Access to cashflow is a big part of running your business. Without cashflow, you can't operate. So being able to deposit or withdraw money quickly, with the least amount of hassle, will partly determine whether you're successful in your entrepreneurial endeavors. For example, if you can't make payroll happen in the timeframe your employees expect, they will complain or even quit. Or, if you can't pay your bills on time, you'll be assessed fees and fines that put a dent in your bottom line.

Thursday, May 30th

2024 Business Bank Account Reviews

Top Consumer Reviews Best-In-Class Blue Ribbon Award Novel Review 5 Star Rating


5 Star Rating
  • Business Checking
  • Smart Card
  • Global payroll and compliance
  • Invoicing
  • ACH, domestic, and international wire
  • Digital check deposit
  • Bill pay
  • Team members
  • No overdraft charges
  • Support via email, phone, and chat
Top Consumer Reviews Best-In-Class Blue Ribbon Award

Novel is an alternative bank for foreign entrepreneurs who would like to bank with U.S. currency or over 130 other currencies. Deposits are FDIC insured and you can have virtual and physical credit cards, integration with payment systems, and no deposit or transaction minimums. There are just two plans to choose from: Standard and Plus. Standard is for startups that don't need many transactions and features. The Plus plan incrementally adds more features.


There is a $0.20 fee on the Standard Plan for digital check deposits, but on the Plus Plan, digital check deposits are free. Wire transfers are free for all plans except the Standard Plan, which charges $5 per outgoing wire transfer. Use of the Team Member feature on the Standard Plan costs $5 per month per team member after the first free team member and is limited to 4 authorized users. On the Plus Plan, all team members are free and unlimited. Fees for business credit cards on the Standard Plan are $6.00 per card, but you get 3 free virtual cards. For the Plus Plan, virtual credit cards are free and unlimited. You get 1 free physical card with Plus, but you pay $6.00 per additional physical card.


Novel's ATMs are through the AllPoint network which has over 55,000 participating ATMs. Novel doesn't charge ATM fees, but Allpoint might charge you a fee.

Checking Accounts

Novel's checking accounts do not bear interest, so you won't be able to grow your money from month to month. Any funds that you want to store away for a rainy day can be kept in a Novel savings account. Novel doesn't have account deposit minimums or transaction minimums.

You can receive deposits to Novel business checking via Stripe, Amazon, PayPal, Square, Shopify, Airbnb, Venmo, Toast, Uber, and Lyft. Payouts can be made in over 130 currencies.

Accounting and Accountants

Novel has minimal invoicing capabilities with more on the way soon, including bulk invoicing. That probably explains why it doesn't have integration with QuickBooks yet. If you need QuickBooks to communicate with your bank to get transaction information, you'll want to skip using Novel. Novel also doesn't have a bill pay function nor the ability to create sub-accounts for budgeting purposes.

If you'd like your accountant to have access to your Novel account, you can add them as a team member (up to four for Standard Plan, unlimited for Plus Plan).

Best Business Bank Accounts

Transfers of Money

Novel's mode of transfer is via domestic ACH transfer, domestic wire transfer, or international wire transfer. Domestic ACH transfers happen in 3 business days. Domestic wire transfers arrive in 1 business day. International wire transfers take 1-3 business days.

Limits on ATM Transactions

Novel's ATM withdrawals are limited to $1,000 per day and ATM deposits are limited to $2,000 per day. ACH debits are limited to $10,000 per day and ACH credits are limited to $50,000 per day.

Customer Relationship

Because Novel is more of an international banking service, it does not have a listing on the Better Business Bureau website. Looking at customer sentiment in other places, we see that it has a large number of positive reviews. People who like Novel say they're happy with how it gives them more than other banks, knowing their finances are safe, it's easy to use, great for expatriates from the U.S., and has a simple and easy-to-use user interface.

People who did not have a good experience with Novel said they couldn't find a customer support number or branch location, never got a call back after leaving a voicemail or lost money during large transactions.

Best choice for customers anywhere in the world

Given the relatively minimal number of complaints about Novel and their flexibility for serving non-U.S.-based customers as well as U.S.-based customers in an increasingly global economy, we happily recommend Novel for your business banking.

Relay Review 4.5 Star Rating


4.5 Star Rating
  • Up to 20 no-fee checking accounts
  • Up to 50 virtual or physical debit Mastercards
  • Payments via ACH, wire or check
  • Invite team members
  • Automate spending limits
  • Web, iOS, or Android apps

Relay is a financial technology company serving as the interface for Evolve Bank & Trust which carries out the banking transactions of its customers. With Relay, you can transparently see operating expenses, cash flow, and accounts payable. You can open up to 20 business checking accounts and issue 50 Mastercard debit cards to your staff. There are no account minimums, overdraft fees, or withdrawal fees from ATMs. Accountants and bookkeepers can join a partner program to sell Relay services to business clients and keep up to 20% of the revenue.

For what it's worth, Evolve Bank & Trust was established in 1925 and has over $500 million in assets, which is quite a bit less than the larger banks. Still, with their longevity, that amount in assets may be suitable for earning the trust of small businesses.


It costs no money to open a Relay Standard account. However, for the advanced features of Relay Pro, including QuickBooks or Xero integration and bill pay, you'll pay $30 per business per month.

With Relay Standard and Relay Pro, there are no fees. The only exception is if you're on Relay Standard where sending domestic wires is a fee of $5 and receiving international wires is a fee of $10. Everything else, including monthly checking, minimum balance, overdraft, bounced checks, cash withdrawals at ATMs, sending and receiving ACH transfers, sending and depositing checks, and receiving domestic and international wires are all free of any fees for both plans.

Relay makes revenue when you use the Relay debit card and Mastercard shares part of the merchant fee with Relay.

Plenty Of Fee-less ATMs

Relay boasts 32,000 ATMs in the AllPoint ATM network. You can withdraw cash from any AllPoint ATM for free and use any ATM globally without a fee as well. However, individual owners of global ATMs will likely charge a fee.

Interest-bearing Checking Not Available

All Relay checking accounts are non-interest-bearing with no plans on the horizon to add interest to checking accounts.

Payment Platform Compatibility

Relay supports businesses that transact using online payment systems such as PayPal, Stripe, Plaid, Square, Venmo, Melio, Gusto, and Shopify. With Melio and Gusto, Relay doesn't support paychecks in paper check form, only electronically. Zelle is not supported.

Bookkeeping and Payroll Integration

Relay integrates with Xero, QuickBooks, Plaid, and Gusto. Xero and QuickBooks are both online bookkeeping and accounting systems. Plaid helps businesses have open banking connectivity across a toolkit of financial services providers. Gusto enables payroll with detailed data, shortfall alerts, and secure team member access.

For bookkeepers and accountants, Relay has a partner program that pays money for every new client brought onto the Relay banking platform. Accountants and bookkeepers can earn up to 20% of the monthly revenue depending on how many new clients they bring on board. And, there are additional features made available to accountants and bookkeepers that aren't available to regular business owners.

Best Business Bank Accounts

Ease of Transfers to Personal Accounts

Transferring funds between Relay accounts is done in the desktop or mobile app by choosing the Accounts tab and clicking the Move Money button. From there you can select the accounts to transfer funds between and then confirm an amount, start date, and frequency for recurring transfers. It will automatically detect when you are transferring more funds than are available and warn you.

Import and Pay Bills

With Relay, you can automatically import bills from QuickBooks Online or Xero, then set up approval workflows, and pay via ACH, wire transfers, or check. The status of the bills in Xero or in QuickBooks Online will be updated automatically once you initiate the payments in Relay.

Up to 20 Different Accounts

Relay offers up to 20 checking accounts for both Standard and Pro members. There is the exception of sole proprietorships only being allowed to open up to 10 checking accounts, so be sure to either incorporate your business or read the fine print about what you're allowed to do as a sole proprietor on the Relay banking platform.

Transaction Limits

Direct deposits, wires, or ACH transfers from an outside financial institution are limited to $1,000,000 per day. There are no limits on ACH transfers from Relay or linked bank accounts, deposits using an external debit or credit card from an outside source, Remote Deposit Capture (RDC), or internal transfers.

Withdrawals are subject to limits. ACH transfers (credit) to an external bank account initiated by Relay or linked bank accounts are limited to $100,000 per day. Wires are limited to $200,000 per day. Bill pay checks are limited to $40,000 per day. Internal transfers are limited to $1,000,000 per day.

Should your business wish to have limits on debit card transactions by individual cardholders (up to 50), Relay allows you to select a card and then choose limits on daily transactions or daily withdrawals. You'll only be able to set the spending limits of the card.

Customer Support Experiences

Relay is "not rated" by the Better Business Bureau. On other client feedback platforms, they have a great reputation for saving people time and energy and personalized customer service. People also like the separate checking accounts feature, ease of use, transparent messaging, easy sign-up, and automation.

For the folks who didn't like Relay, they had problems with frozen accounts due to forms not being uploaded or false positives with suspicious activity, no phone support, long times for checks to clear, and trouble opening accounts.

Business Banking with Plenty of Positive Feedback

The company does respond to the majority of negative reviews with offers to assist further when it looks like there are more steps to be taken. With the large ratio of positive to negative reviews, and the innovative structure of banking that includes onramps for business owners and accountants alike who are juggling finances of multiple businesses, we give Relay a hearty recommendation.

NorthOne Review 4 Star Rating


4 Star Rating
  • Instant support via live chat, phone, and email, Monday to Sunday, 8 am to 10 pm EST.
  • Deposit checks and activate, freeze or order new cards via the mobile app
  • Integration with 15 major third-party financial services providers and e-commerce systems
  • Supports cash withdrawals at MoneyPass ATMs nationwide
  • Automatic categorization of purchases
  • Point-of-sale connection
  • Payment of invoices, payroll, sending of ACH, wire payments in seconds

NorthOne specializes in giving small businesses, startups, and freelancers a quick and simple way to deposit their business cash flow. Its mission is to eliminate financial administration for business owners so they can focus on growing their businesses. With NorthOne, there are no branches or waiting in line for services. You can instantly transfer money via ACH on your mobile devices, deposit funds from checks, and withdraw money from any MoneyPass ATM across the country. But, be advised that NorthOne is not a bank. It's a financial technology service with banking services being provided by The Bancorp Bank, which is a member of the FDIC.


NorthOne accounts cost $10 per month per account with a $15 fee for sending and receiving domestic wires. There are no additional fees for ACH payments, deposits, transfers, purchases, envelopes, or app integrations. All fees are spelled out in their Deposit Account Agreement when you sign up.

Connect to Accounting Apps

NorthOne is able to connect with your favorite accounting apps. There are 15 major third-party financial services providers and e-commerce systems that NorthOne can integrate with, from PayPal, Stripe, Square, and Venmo for payments to Etsy, Airbnb, Amazon, and Shopify for eCommerce, and QuickBooks for accounting, among others.

No Bill Pay or Interest-Bearing Checking

There is no bill pay or interest-bearing checking feature with NorthOne. You can use the envelopes feature to sort money into various categories to pay your bills, but to earn money you'll need to transfer that money to a separate bank's interest-bearing savings account or invest it.

Use Envelopes and Custom Rules for Budgeting

Just like your grandparents used to do, NorthOne provides the concept of "envelopes" , which are a sort of sub-account, which you can use to automatically budget a percentage of your payments. You can also budget a dollar amount on a daily, weekly, or monthly schedule for rent, taxes, payroll, and other expenses.

You can also set up custom rules to simplify sorting money into envelopes each time money comes in. You can set it up as a schedule that makes sense for your operation.

Best Business Bank Accounts

Daily Limits and Minimum Deposits

When initially funding a deposit, the limit is $250 and the minimum deposit is $50 across just one transaction. There is no limit on direct deposits in either frequency per day or the maximum dollar limit. For ACH transfers, there's no limit to the number of transactions per day but a maximum of $500,000 per deposit per day. Mobile check deposits are not limited per day but must be a $5.00 minimum per check. There is also a $15,000 limit per check or per rolling 24-hour period. There is a $50,000 limit per rolling 30-day period for mobile check deposits. Several other transaction type limits are spelled out on NorthOne's website.

Customer Feedback

NorthOne is accredited by the Better Business Bureau with a "B" rating. There are dozens of complaints that were closed in the last 3 years and over 30 in the last 12 months. Overall, it looks like there's a 60/40 split between customers who love NorthOne and those who are angry with this business bank.

Customers who love NorthOne say they appreciate the quick and helpful customer service, bonuses they got for using the service often, $75 account referrals, and integrations with popular third-party financial and eCommerce services.

Customers who do not love NorthOne say they had trouble getting their $75 account referrals, could not keep up with the $10 monthly fee draining their startup business accounts before real revenue began to come in, and having their accounts shut down with checks not deposited.

Room to grow

We like the fact that NorthOne is really focusing on the needs of small businesses, freelancers, and startups. And, the idea of "envelopes" is a brilliant way to help business owners budget and pay themselves. We just wish NorthOne were a bit further along on the banking maturity journey. Even so, given that they have happier customers on average than a couple of the biggest banks, we award NorthOne a higher rating than those rivals.

Bluevine Review 4 Star Rating


4 Star Rating
  • Business checking with 1.5% interest for qualifying customers
  • Business Loans
  • Bill Pay
  • Lending
  • Multiple Accounts
  • Member FDIC
  • Equal Housing Lender

Bluevine is actually a financial technology company, not a bank. It is essentially a front-end user interface for Coastal Community Bank that enables various business banking features for businesses that need them. Bluevine has no-fee checking accounts, interest-bearing checking, is available in 50 states, and is a great bank for a small business. It does not have a savings account.

No Monthly Fees

Bluevine does not charge a monthly fee or have a minimum balance you have to keep an eye on. You get unlimited transactions as well. However, all accounts are subject to the aggregated monthly deposit and withdrawal amount limits spelled out in the account agreement.

MoneyPass® ATMs

Bluevine is part of the MoneyPass® ATM network. As long as you use a MoneyPass® ATM, there aren't any ATM surcharges. Otherwise, the fee is $2.50 per transaction. To deposit money, they require you to visit a location that supports GreenDot depositing systems. Locations for MoneyPass® and Green Dot Network® are found on the Bluevine website.

Earn Interest on Your Checking Balance

Bluevine lets you earn 1.5% interest on balances up to and including $100,000. That's a pretty attractive deal since it's about 50 times the national average interest rate. But the interest can be earned only if you meet the monthly debit transaction or deposit requirements spelled out in the account agreement. Also, there is no interest on balances over $100,000. Interest gets paid to your main Bluevine checking account.

QuickBooks Integration

With Bluevine, the process of integrating with QuickBooks is very simple. Within a few clicks, and a verification task or two, you can have your QuickBooks accounting system automatically pull in banking transactions for reconciliation.

Account Access and User Roles

Bluevine allows you to add other authorized users to your account. For example, if you have multiple people in your business who need to tend to funds, fulfill transfers, and do accounting, you can create a user profile for them. Currently in beta, there is a new "Accountant" user role you can add that will limit your accountant to just accessing an account summary and transaction details, bank statements, account reports, loan advance details, creating and editing bills, and forwarding bills to the Bluevine dashboard.

Best Business Bank Accounts

Transferring Money

If you need to transfer money from your Bluevine account to another bank, you just set up the other bank account in Bluevine and initiate the transfer via a simple form that asks for the amount and which bank to send it to. You can also transfer money between subaccounts within Bluevine.

Paying Your Bills

Gone are the days of writing individual paper checks to vendors and dropping them in the mail. Obviously, you can pay your bills online with many service providers, usually through your credit card. But if you want to control your business cash flow via bill pay in your bank account, you can do that with Bluevine. Just set up a payee for the bill, enter the amount and due date, and send the payment. You can optionally upload a scanned copy of the bill, and add a reference number, category, and extra note as well.

Set Up Multiple Accounts

As noted above, one great feature of Bluevine is the ability to create up to five additional accounts aside from the main business checking account. This is useful if you need to separate out different accounts as "buckets" for payroll, taxes, and other specific needs. Otherwise, it can be too easy to inadvertently withdraw or spend money from the main account without protecting the balance against overdrafts when taxes or other bills come due.

FDIC Insurance

Coastal Community Bank, which fulfills the banking services that Bluevine facilitates, is a member of the Federal Deposit Insurance Corporation (FDIC). If there's a bank failure sometime in the future, FDIC membership will ensure that up to $250,000 of your money can be recovered.

Reviews and Ratings

Bluevine has a Better Business Bureau accredited rating of "A+" . They are answering all customer complaints and reviews as well, offering to contact them directly. Coastal Community Bank, which Bluevine facilitates, has a non-accredited rating of "A-" . The bank is also responding to customer complaints within a reasonable timeframe.

On other review sites, there were many positive reviews by well over the majority of Bluevine's customers. People liked the fast, easy application and approval process, customer service, credit line terms, ease of use, and interest rate. For the relatively few who complained, they didn't like issues with recovering stolen money after their account information was compromised (apparently due to lack of attention to security on at least one customer's part), being declined with no additional information offered, and longer than anticipated deposit times for new accounts.

Good Choice for Business Bank Accounts

Generally speaking, we recommend Bluevine for most business owners. We particularly appreciate being able to keep different subaccounts and to integrate with popular software platforms for ease of account. It's not as fully-featured as its higher-ranked rivals, but there's no reason not to choose Bluevine for your business banking if it appeals to you.

Novo Review 3 Star Rating


3 Star Rating
  • Virtual card
  • Send and track invoices
  • Reserves for setting aside funds for expenses, taxes, and so on
  • Stripe integration
  • App for transferring and managing funds
  • Instant unlimited check deposits via the app
  • Send payments
  • Integrated apps
  • Connect to Google Pay or Apple Pay

Novo is a financial technology company facilitating banking transactions for customers of Middlesex Federal Savings in Massachusetts. It supports over 15 payment and eCommerce systems like Stripe, PayPal, Shopify, QuickBooks, eBay, Etsy, Woo, Square, and others. Novo's app lets you transfer funds, deposit checks instantly, reserve money for future purchases, and access your funds with the Novo Virtual Card in-app.

Very Few Fees

Novo does not charge a fee to open an account, nor does it have any regularly scheduled or hidden fees. There is a $27 fee for insufficient funds and another $27 fee for uncollected funds returned. There is a minimum amount of $50 to open an account. And if you want to do instant transfers (same-day ACH), there is a 1.5% transaction fee with a minimum of $0.50 and up to a maximum of $20 for all instant transfers. All other activities are fee-less.

Limited ATMs

Novo allows $1,000 per day cash withdrawals with no fee from its own ATMs, which are located in the Medford/Somerville, MA area. For nationwide ATMs, Novo will refund any fees incurred at the end of each month back to your account, including international ATM fees.

You can also get cash back from merchants who offer that feature or get a cash advance at most major banks. For cash deposits, unfortunately there are no ATMs equipped for Novo to handle this. You'll need to purchase a money order from USPS, Walmart, and grocery stores and then use the mobile check deposit feature in the Novo app to deposit the check (what a pain in the neck!).

No Interest-bearing Checking

Novo does not offer interest-bearing checking or savings accounts. But, they are considering it for users in the future.

QuickBooks Integration, But Not For Desktop

Novo can be integrated with QuickBooks Online (but not QuickBooks Desktop) for all your accounting needs through the Novo app, the web app, or the QuickBooks website. After QuickBooks is connected, Novo will automatically send transactions each hour electronically.

Be Careful Who You Allow to Access Your Account

You can also add your accountant as a user of your Novo account, but there is no way to limit what any user can do, so you will run the risk of having money withdrawn from the account without your knowledge. Be sure you fully trust those you give access to.

App-Based Transfers

Transfers between accounts in Novo happen through the browser on the desktop or via the app on mobile devices.

Best Business Bank Accounts

Bill Pay Is Not Available

Traditional online bill pay is not available in Novo business checking accounts, but you can create invoices and track and get paid through their invoicing system.

Sub-accounts Are Called "Reserves"

Novo has named its multiple accounts or sub-accounts feature "reserves" . Reserves allow you to allocate funds to various categories so that you can better budget for expenses, taxes, payroll, and other needs. After creating a Reserve, you get to it through the Novo dashboard, the App Marketplace, or in the Reserves section of the web app. You can also allocate funds to Reserves automatically by creating custom rules with percentages. Reserves can be used to make direct payments. You can also retroactively assign expenses to Reserves on the transaction's detail screen by selecting the "Pay from Reserve" dropdown.

Various Limitations On Transactions

Novo's limits on ACH are $1,250 per day for pulls and $5,000 per day for pushes. The limit for mailed checks is $5,000 per day. Check deposit limits are $20,000 per day or $40,000 per month with a 20 checks per month transaction limit. For Point of Sale (POS), the limit is $5,000 per day or 20 POS transactions per day. For ATM withdrawals, expect a limit of $1,000 per day.


Support is only available via a searchable FAQ system, email, and the phone number on the back of your Novo debit card. There is no live chat.

Lackluster Reviews from Customers

Novo has a Better Business Bureau non-accredited rating of "A-" . A bare majority of customers like Novo. Those who like it say they enjoy the benefits of all the technical integrations with third-party platforms, great customer service, transfers clearing on time, refunded ATM fees, and perks/reward system.

Customers who did not like their experience with Novo complained of unauthorized or fraudulent behavior in their accounts, bad customer service, lack of more deposit options than just mobile, not being able to cash a check, long wait times to receive the debit card, checks being rejected multiple times, and delays in transferring funds for large purchases.

Needs Better Feedback from Business Bank Customers

Novo has a too-close-for-comfort mix of positive and negative reviews, and no cash deposits. Also, with the exception of the Better Business Bureau complaints, Novo doesn't seem to be responding to complaints. We recommend you proceed with caution if you choose to bank with Novo.

Wells Fargo Review 2.5 Star Rating

Wells Fargo

2.5 Star Rating
  • 24/7 fraud monitoring
  • Customized cards and checks
  • Tap to pay
  • Add team members to business accounts
  • Account alerts
  • Zero Liability protection
  • Mobile deposits
  • Payment services

Wells Fargo splits its business banking into two categories: small business and commercial. For this review, only the small business banking Wells Fargo provides is relevant as the commercial banking category has no checking offerings.

Glitchy website

Right away we were blocked from researching Wells Fargo small business checking due to a popup that appeared asking for a zip code. If you don't answer the popup, the site redirects you to personal checking, which is a bit presumptuous. This may be off-putting for business owners who need to set up accounts in more than one location or who don't want to provide location information just yet. It's a bit like asking for a second date with someone when you haven't even gone on the first.

Three Business Banking Account Types

There are three main checking account packages named Initiate, Navigate, and Optimize. Initiate is for new business owners, Navigate is for more experienced business owners, and Optimize is for seasoned business owners.

  • Initiate Checking has a $10 monthly service fee which can be waived if you have a $500 minimum daily balance or a $1,000 average ledger balance during each fee period. Cash deposit processing fees are free for the first $5,000 deposited per fee period. After $5,000 you are charged $0.30 per $100 deposited. There is no fee for the first 100 transactions per fee period, but after 100 you are charged $0.50 each transaction.
  • Navigate Checking has a $25 monthly service fee which can be waived if you have a $10,000 minimum daily balance or a $15,000 average combined business deposit balance during each fee period. Cash deposit processing fees are free for the first $20,000 deposited per fee period. After $20,000 you are charged $0.30 per $100 deposited. There is no fee for the first 250 transactions per fee period, but after 250 you are charged $0.50 each transaction. For cash deposits, you pay $0.0030 per $1 each statement period. For non-electronic deposits there is a $2.50 fee per deposit plus $0.20 per check deposited.
    With Navigate, there are no fees for stop payments, cashier's checks, money orders, and the first two domestic (U.S.) non-Wells Fargo ATM transactions per fee period. Also, there is no fee for incoming domestic and international U.S. and foreign currency wire transfers, and the first two outgoing domestic wire transfers per fee period.
  • Optimize Checking has a $75 monthly service fee which can be reduced with an earnings allowance. There is no fee for the first 250 transactions per fee period, but after 250 you are charged $0.50 each transaction. There are no fees for stop payments, cashier's checks, money orders, incoming domestic and international wire transfers in U.S. and foreign currency and no fees for the first two domestic non-Wells Fargo ATM transactions per statement period. With Optimize you get five outgoing CEO Wires per statement period free and $15 for each additional.

When comparing all three business checking accounts at Wells Fargo, we found a long list of footnote disclosures that you'll want to be sure to read in case they affect your business in any way.

Very Few ATMs

Wells Fargo has a network of 12,000 ATMs where you can use a contactless debit card by tapping it on or near the contactless symbol at the ATM. You can use non-Wells Fargo ATMs with fees possibly being charged by the ATM owner and any Wells Fargo fees possibly being reimbursed depending on the terms of your particular account.

Only One Business Checking Account Is Interest-bearing

Only the Navigate business checking package is interest-bearing checking. Unfortunately, no details on the interest rate were available through the Wells Fargo website.

Best Business Bank Accounts

Works With Both QuickBooks Online and QuickBooks Desktop

Wells Fargo supports connecting QuickBooks Online accounting software to your bank account for tracking transactions and reconciling bank statements. Within QuickBooks Online, click "Add Account" in the "Banking" tab and choose Wells Fargo in the list. Then specify to QuickBooks Online what kind of accounts they are.

For QuickBooks Desktop, sign up for or log into Wells Fargo Business Online and then, in QuickBooks Desktop, select Wells Fargo as your financial institution. It will lead you through the account connection process from there.

Move Money with the App

With Wells Fargo online and via the mobile app, you can move money between accounts or banks. You can also set up recurring transfers on a schedule you choose. For non-Wells Fargo accounts, just add them by their account and routing numbers to begin transferring funds.

Recurring Bill Pay

The Wells Fargo Business Bill Pay system lets you pay bills via mobile or through the website. On mobile, log in and tap the Menu icon. Choose "Transfer & Pay" and then "Pay Bills" . From there, you add a payee and then make a single payment or schedule a payment to recur.

Multiple Subaccounts Not Supported

Wells Fargo does not provide any kind of subaccount or place to set aside funds for a rainy day. If you want that feature, you'll need to look elsewhere, or you'll need to set up multiple Wells Fargo accounts.

Low Minimum Deposit Requirement

Initiate, Navigate, and Optimize checking all have a minimum opening deposit of $25.

Customer Dissatisfaction = Avoid

There seems to be a pattern with the bigger, stronger banks of having a lot of customer dissatisfaction. Wells Fargo is no exception to that pattern. Lots of customers really dislike Wells Fargo because of bad customer support, anti-customer policies, identity theft due to ineffective identity verification, questionable real estate dealings, shortage of in-person banking tellers, fees eating up the balances, and many other complaints. Even though their customer dissatisfaction was a little "less bad" than others, we still recommend you avoid using Wells Fargo for business banking.

Chase Review 2.5 Star Rating


2.5 Star Rating
  • Checking accounts
  • Savings accounts
  • Loans and financing
  • Retirement
  • Business services
  • Accept debit/credit cards online or in person
  • Business credit cards

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. which has $2.6 trillion in assets and operations worldwide. So it's not going away anytime soon. Chase offers a business banking option that includes checking, savings, loans and financing, retirement, business services, and accepting debit and credit cards online or in person.

Fees with Large Strings Attached

Chase offers three business checking options: Chase Business Complete Banking, Chase Performance Business Checking, and Chase Platinum Business Checking. Fees vary based on how much money you maintain as a minimum daily balance. Some of those required balances are quite large. Business Complete Banking waives the monthly service fee with a $2,000 minimum daily balance, deposits from Chase QuickAccept, or Chase Ink Business Card purchases. Performance Business Checking waives the monthly service fee if you have a $35,000 combined average beginning day balance. Platinum Business Checking waives the monthly service fee if you have a $100,000 combined average beginning day balance.

For cash deposits, there's a fee for Business Complete Banking after you exceed $5,000 in deposits per statement cycle. For Performance Business Checking, you get charged a fee when you exceed $20,000 in cash deposits per statement cycle. And for Platinum Business Checking, the fee hits when you go over $25,000 per statement cycle.

Over 16,000 ATMs

Chase has over 16,000 ATMs nationwide to withdraw cash for your business. With Business Complete Banking, you get unlimited debit card and Chase ATM transactions, and up to 20 teller and paper transactions. The website doesn't list the ATM transaction criteria for Performance Business Checking or Platinum Business Checking.

They also offer the ability to use your mobile wallet at Chase ATMs. To use mobile wallets at Chase ATMs, you must be using an eligible Chase debit card that has been loaded into an Apple Pay, Google Pay, or Samsung Pay mobile wallet. When you use a cardless ATM, you just open your mobile wallet on your phone, tap your phone, and enter your PIN. This method benefits you in the added security that is built into your mobile wallet, like your fingerprint, passcode, and facial recognition.

No Interest-bearing Checking, But Get Money for Signing Up

Chase doesn't provide any interest-bearing checking options, but they do offer $300 for opening a Chase Business Complete Checking account. The offer is only occasional and is limited in its timeframe, so you'll have to check the website for the offer before signing up.

Granting Access to Accountants

If you have an accountant who needs access to your bank account on a limited basis, Chase has a feature called Access & Security Manager that you can use to set up multiple business account users with their own IDs and passwords and monitor their activity. You can control what accounts users can see, including statements, check images, and deposit images. You can also authorize users to pay bills, transfer funds, or wire money according to the limits you set. There are how-to videos to demonstrate how to set up Access & Security Manager. Chase also integrates with QuickBooks.

Best Business Bank Accounts

Transfers to/from Personal or Business Accounts

Chase has a helpful video on its website demonstrating how to transfer money to or from personal or business accounts. After signing in you choose "Pay & Transfer" , then "Money Transfer" . Choose the accounts you want to transfer from and to, then enter the amount, transfer date, and an optional memo. Finally, choose "Next," then "Transfer money" .

Pay Your Bills Online

Chase has created a secure, easy, and convenient way to pay all your bills with no fees via the mobile app or Chase Online. They have an online bill payment guarantee to ensure that your payments will be sent on the date you determine. If a bill doesn't get paid on time due to a Chase-initiated delay, Chase will pay late fees that result - provided you follow their guidelines for setting up a bill payment.

No Subaccounts Available

Chase does not provide subaccounts for you to categorize and isolate various quantities of money for different purposes. You'll need to find that feature with another bank instead.

What Customers Say

Customers of Chase are very negative about their experiences with the bank. Those who said they didn't like Chase said it was because of overall bad customer service, identity theft issues, closed accounts for arbitrary reasons, credit score reductions, issues with the app, poorly scanned and processed checks, and taking of overdraft fees when it wasn't warranted.

The few customers that said they like Chase said that customer support was helpful and went above and beyond. They also like the rewards from using the credit card and the prevalence of ATMs.

Not a good choice for business bank accounts

Due to the overwhelmingly negative feedback, which we wouldn't have expected for such a "large" brand as Chase, we cannot recommend them at this time.

US Bank Review 2 Star Rating

US Bank

2 Star Rating
  • No-fee ATMs
  • Visa debit card
  • Mobile check deposit
  • Access to business services and payment products
  • QuickBooks integration

US Bank has more than $8.6 trillion in assets and manages $244 billion in assets globally. It is a very large bank that has a lot of customers and advanced banking features for business owners. Unfortunately, after a review of the maze of fees and limitations, and the highly-negative customer reviews, we cannot recommend US Bank to anyone wanting to grow their business financially without hassles.


US Bank has three different business checking account packages. Silver is for new or small businesses and has a $0 monthly maintenance fee, 125 free transactions per month, and a $0.50 fee for each additional transaction. Gold is for growing businesses. It costs $20 in monthly maintenance fees, gives you 300 free transactions per month, and has a $0.45 fee for each additional transaction. Platinum is for mature businesses. It has a $30 monthly maintenance fee, 500 free transactions per month, and a $0.40 fee for each additional transaction.

  • Silver is for new or small businesses and has a $0 monthly maintenance fee, 125 free transactions per month, and a $0.50 fee for each additional transaction. There is a $5 paper statement fee for Silver accounts, but all other accounts get free paper statements.
  • Gold is for growing businesses. It costs $20 in monthly maintenance fees, gives you 300 free transactions per month, and has a $0.45 fee for each additional transaction.
  • Platinum is for mature businesses. It has a $30 monthly maintenance fee, 500 free transactions per month, and a $0.40 fee for each additional transaction.

Specialty business accounts

There are also two specialty accounts: Non-profit and Premium Business.

  • The Non-Profit option has $0 in monthly maintenance fees, 1,800 free transactions per year, and a $0.50 fee for each additional transaction.
  • Premium Business is an "analyzed account" which is eligible for earned credits to offset transaction, maintenance, and other activity fees. You'll have to visit a branch location to get those details.

Fees can be waived

Fees can be waived for Gold, Platinum, and Premium Business checking accounts. But it's somewhat complicated. For Gold, you can get fees waived if you have any of the following: a US Bank Payment Solutions Merchant Account, $10,000 average collected checking balance or $25,000 average collected checking balance on interest-bearing accounts, $20,000 in combined average collected deposit balances or $50,000 in combined average collected balance on interest-bearing accounts, or $50,000 combined average collected business deposits and outstanding business credit balances.

Waivers for Platinum qualify with either a $25,000 average collected checking balance or a $75,000 combined average collected business deposits and outstanding business credit balances.

For Premium Business, as an analyzed account, fees can be offset by an earnings credit based on the account balance.

There is a $5 paper statement fee for Silver accounts, but all other accounts get free paper statements.

No-fee ATMs

US Bank has its own ATMs and also participates in the MoneyPass® network. There is no fee at Non-U.S. Bank ATMs. However, non-US Bank ATM owners may charge their own fees unless they are part of the MoneyPass® network.

Best Business Bank Accounts

No Interest-bearing Checking on Most Accounts

Only Gold and Premium accounts are interest-bearing at rates that change without notice.

QuickBooks Accessible Accounting

You can use QuickBooks with US Bank by importing your transaction data, reconciling downloaded transactions with your online software register, and scheduling and paying bills.

Transfer Money Through the Website or Mobile

US Bank transfers can be done through the website or mobile app as one-time transfers, scheduled in advance, or recurring transfers. They can be done, inbound or outbound, between US Bank accounts without fees or externally at other financial institutions.

Automated Bill Pay

To use Bill Pay on a US Bank business checking account, you can access it through online banking, the mobile app, or SinglePoint® Essentials. Once you log in, you can pay bills quickly or on a recurring schedule without writing physical checks or visiting multiple vendor websites. You can even pay bills in advance of their due dates. Through SinglePoint® Essentials you get additional functionality such as domestic and international wire transfers as well as integration with QuickBooks, Quicken, and Excel.

Minimum Deposits and Qualifying Transactions

US Bank requires a $100 minimum deposit when opening a Silver, Gold or Platinum account. You must also complete 5 qualifying transactions (debit card, deposit, ACH, wire, mobile check deposit, or bill pay) within 60 days of the account opening or it will be closed as abandoned.

Lots of Limits on Monthly Transactions

Cash deposits for Silver are limited to 25 per month. Silver accounts have 100 deposits per month, and Platinum has 200 per month. As described earlier, Silver, Gold, and Platinum accounts are limited to, respectively, 125, 300, and 500 free combined transactions per month.

Customer Service Failure

Customers are pretty unhappy with their US Bank experiences. A huge number of users, the largest of all the banks reviewed, rated it very low. They complain about poor customer service, unauthorized withdrawals, holds placed on checks for no reason, credit score deductions, having longstanding accounts suddenly unjustly flagged as fraudulent with no way to get the account back, and much, much more. You may want to leave US Bank off your list of choices for your business banking.

Capital One Review 1.5 Star Rating

Capital One

1.5 Star Rating
  • Online Bill Pay
  • Overdraft Coverage
  • Free Debit Cards
  • Mobile App
  • Fee-free unlimited digital transactions
  • 24/7 account information access
  • Guaranteed 0.20% promotional interest rate (first 12 months)
  • Business lines of credit

Capital One is a very popular and well-known full-service bank and financial institution. Its commercials are ubiquitous and almost everyone in the US knows its promotional tagline. With popularity comes a lot of scrutiny. Capital One's customers are very much not happy with their experiences with the bank. Granted, all of that feedback and sentiment mixes personal and business checking, so it's impossible to distinguish whether the business bank accounts are faring better. But it's reasonable to assume that the company has the same or similar issues for business banking as it does for personal banking.

Either way, the negative customer experiences we've discovered lead us to conclude that there are several better banks to choose from. Walk away from Capital One if you want to retain your sanity. But, just for reference, here's what you can expect from their business bank accounts.

Business Account Types

If you want to manage cash flow, you can choose between Basic Checking, Unlimited Checking, and Merchant Services. To bank digitally, you can choose Online Banking or Escrow Express. And for investing in your business, you can select Savings or Loans and Lines of Credit.


Basic Checking allows you to deposit up to $5,000 in cash each month with no fee. After that, Capital One charges $1 per $1,000 deposited. Standard domestic and international wire fees apply to Basic Checking. Unlimited Checking has no fee for cash deposits but a $35 monthly service fee that is waived with a $25,000 minimum balance. There are also no fees for incoming domestic wires and the first 5 domestic outgoing wires each month are also free.

Minimum and Maximum Deposits

Basic Checking waives its $15 monthly service fee with a minimum balance of $2,000. Unlimited Checking charges $35 per month unless you have a minimum balance of $25,000. Cash deposits don't include a fee, but Capital One can convert an account to another type of account if deposits are greater than $40,000 for a particular statement cycle or if Business Checking accounts are being used by businesses with annual sales exceeding $10 million.

ATMs Locations and Fees

ATMs are located all over the United States. Like many other banks, you have to know a specific location to begin searching for ATMs through the website or mobile banking app.

Interest-bearing Checking

Capital One business banking doesn't seem to include interest-bearing checking. They do have a paycheck protection program. Capital One prefers to sell savings and investment accounts for its interest-bearing options.

QuickBooks and Accountant Support

QuickBooks supports connecting to Capital One banking systems to retrieve and categorize line items from your account's deposit and withdrawal activities. However, we had to look up that information on QuickBooks' site as it was not found on Capital One's. Likewise, if there is support for an accountant to be able to log in separately to your Capital One business banking account, the company is keeping it a well-guarded secret.

Best Business Bank Accounts

Transferring Funds: There's an App for That! Maybe?

Capital One's instructions on transferring funds for its personal, non-business accounts revolve around its app and it seems quite intuitive. We can only assume that the app works for business-based accounts as well. Electronic transfers are instant between Capital One bank accounts. Transfers between a bank account and other types of accounts such as loans or credit cards may take two to three business days.

Bill Pay

Setting up bill pay is assumed to work the same for business checking accounts as for personal, everyday accounts. With at least 4 business days of lead time, you just log in, select "Pay Bills" , select the vendor name, and set up recurring payments.

Multiple Accounts

Capital One does not offer sub-accounts within a single account. If you need another account to segregate various funds, you'll have to create a separate Capital One account.

FDIC insured

Capital One is FDIC insured for up to $250,000.

Customer Sentiment

Capital One has an accredited Better Business Bureau "A-" rating with thousands of complaints and hundreds of reviews. Customers are not at all happy with Capital One. The vast majority of reviews both on and off the Better Business Bureau site are very negative with only a tiny percentage who like the bank.

Those few who like Capital One like their customer service, convenient locations and ATMs, and decent interest rates for savings accounts.

The many who do not care for Capital One had dozens of complaints about customer service not being helpful or knowledgeable, cards being declined despite the user validating and authorizing the transaction via two-factor authentication, cards not received in the mail, problems with paying off credit cards in full, having to talk to a representative for almost everything, not getting support for disputed credit card charges, and hundreds of other simple and complicated situations that Capital One failed to resolve to the customers' satisfaction.

Not recommended for business bank accounts

We do not recommend that you bank with Capital One for your business needs. It's almost as if this financial institution revels in its position in the financial industry and can't be bothered to take care of the large and small details required to make banking easy for its customers. Why not go with a bank that actually cares about your business?

Axos Review 1 Star Rating


1 Star Rating
  • Personal and business checking accounts
  • Savings accounts
  • Investing
  • Commercial banking and lending
  • Personal loans
  • Auto loans
  • Mortgages
  • Member FDIC
  • Equal Housing Lender

Axos is an online-only bank that has been in business since 2000 and was founded with the goal of moving away from traditional banking by improving digital banking. They have over $15 billion in assets and services oriented toward individuals and businesses to help them plan, bank, borrow, and invest conveniently and with various customizations.

A Mixture of Fees

Only the Basic Small Business Checking account has no initial deposit requirement and no minimum balance requirement. No monthly maintenance fees are available for the Basic Small Business Checking and Business Premium Savings accounts. Unlimited domestic ATM fee reimbursements are available for the Basic Small Business Checking and Business Interest Checking accounts. All other accounts include some mixture of a minimum opening deposit and minimum balance. Some have a threshold minimum balance before monthly maintenance fees go to $0. Be sure when choosing a business checking or saving account type that you know what the fees will be for various conditions.

ATM Availability

Axos supports MoneyPass® and AllPoint ATM networks for withdrawals and Green Dot Network®. It was difficult to see the distribution of ATMs across the United States. The interactive map for the ATM locator on their website would only show ATMs for specific locations either selected directly from the map or via entering an address, city, or zip code. Perhaps that is by design to keep competitors from making comparisons, but it's inconvenient for potential business customers with multiple locations who need to know at a glance where ATMs are located nationwide.

Interest-bearing Checking

Looking to grow your business's cash reserves by earning interest on money that isn't needed for operations immediately? Axos Business Interest Checking has 1.01% APY interest. The other small business savings and money market accounts all offer 0.20% APY interest. You can also put money into business certificates of deposit (CDs) with flexible terms ranging from 3 months to 5 years. However, the CD rates are below average for an online bank.

QuickBooks and Accountants

Both the Basic Small Business and Business Interest checking accounts include compatibility with QuickBooks. None of the accounts have the ability to add a third-party accountant as a user with access to see your statements and transactions.

Transfers and Bill Pay

We looked all over the Axos website but didn't find any mention of how transfer and bill pay transactions might work specifically for businesses, separately from personal banking. It may be that they are one and the same. This is a shortcoming of the Axos website: it doesn't have a comprehensive online help system to refer to for basic information. You have to call the number and wait to talk to a customer service representative to get confirmation on various questions not answered in the FAQs scattered throughout the site.

Best Business Bank Accounts

Multiple Accounts Are Not Available

None of the business accounts or personal accounts at Axos offer the ability to have more than one account or sub-account per each main account.

FDIC Status

Axos, like all FDIC-insured bank accounts, protects you up to $250,000 should the banking system fail. If you need added safety and security for your account funds, you can sign up for InsureGuard+ Savings. InsureGuard+ gives you multi-million-dollar FDIC insurance protection on all savings cash balances across multiple accounts and multiple banks.

Checking and Deposit Limitations

Axos provides the first set of 50 checks free. After that, you must pay for new checks to be printed and sent to you. You can have up to 60 items per month for Remote Deposit Anywhere. You also get two domestic wire fees reimbursed per month.

Customer Experience

Axos has an "A+" accredited rating with the Better Business Bureau. There are several customer complaints, all of which have responses. However, the majority of the responses noted are simply instructions to refer to an attached letter and too many of the customer responses are that the resolution was unsatisfactory or the customer didn't respond back. Axos had an overwhelmingly large amount of bad reviews elsewhere on the internet.

Customers who like Axos said they knew they were getting an online-only bank and their expectations were managed along those lines. They said they had little to no problems with simple banking tasks.

Customers who do not like Axos say they had problems with the approval process, locked accounts, fine print "tricks" regarding interest rates, system errors on signup, missing funds, week-long delays to process deposited checks, blocked debit cards without notification, bad customer support, and much, much more.

Not Worth the Effort as a Business Bank

With all the alternatives available, we can find no good reason to select Axos as your business bank. Online-only banking can work just fine, but this bank hasn't gone to the lengths needed to make the service suitable for most business owners. We think you shouldn't waste your time here, and instead choose one of the higher-rated business bank accounts.

Compare the Best Reviews

Continued from above...

When looking for a business bank account, you will want as many convenience options as you can find. You want a bank that works for you and improves your financial success, not one that makes you feel like you are working for the bank and that they keep taking your money.

We've broken down this review of business banking into several key criteria to compare between options. Not every bank has every option available, but these are among the most common we've found:

  • Fees. What fees will you be charged for using ATMs, depositing or withdrawing cash, sending wire transfers either domestically or internationally, or from bank to bank? Fees are too often overlooked by consumers of banking services but those fees can quickly add up. It's important to read all the fine print and make calculations as to how much money, on average, you need to have in your account to avoid fees.
  • ATMs. For some businesses, having easy access to no-fee ATMs is critical, especially if you're buying goods or paying employees or vendors regularly in paper money. Being able to deposit cash is another task some businesses cannot do without.
  • Integration with accounting or accountants. Banks that provide connections to popular accounting software or payment systems have an edge over banks that don't. The same goes for banks that allow you to add team members such as accountants, bookkeepers, or other similar roles to your bank accounts. Delegating financial tasks can create a measurable difference in productivity.
  • Ease of transfers to personal accounts. Transferring money between financial institutions, to other businesses, or even to yourself should not be a chore. And it should happen as fast as possible. Some banks take up to a week or more to complete funds transfers. The best banks complete them either instantly or within 1-3 business days.
  • Bill pay. If you don't pay your bills, you can't stay in business. Having to remember to pay them on a specific schedule can be tedious and is prone to error. Instead of putting payment schedules on a calendar, expect your bank to make it easy to pay your bills online on a recurring basis. That way you can focus on what your business was made for: serving customers.
  • Ability to have multiple accounts under one. Savvy financial planners advise individuals and businesses to set aside cash reserves for taxes, bills, payroll, expenses, and other purposes that are easy to forget but essential to financial success. There is a growing number of banks who recognize the value of this and provide subaccounts or "envelopes" for storing money for a rainy day.
  • Minimum deposit required. Startups are usually low on money at the beginning. They can't afford to have too much money exit their cash flow. So having to deposit a minimum amount to start a business checking account can be a problem. Fortunately, there are banks that don't require a minimum deposit to start an account.
  • FDIC insured. To avoid another Great Depression-era financial disaster, the Federal Deposit Insurance Corporation (FDIC) ensures that if there's ever a massive failure of the banking system, you'll be able to obtain at least $250,000 of what was lost. Every bank we reviewed is FDIC insured. Very few banks are not, if any.
  • Limits to the number of monthly transactions. Let's say your business has a really successful quarter, but as a result the number and amounts of banking transactions begins to exceed your bank's imposed limits. Do you really want to be blocked or pay a lot of money to your bank for the privilege of being their customer? In our review, we included banks with low or no monthly transaction limits or costs.

TopConsumerReviews.com has reviewed and ranked the most popular providers of business bank accounts available today. We hope this information helps you choose a bank that will make it easy and affordable to manage your money!

The Best Business Bank Accounts Compare Business Bank Accounts Compare Business Bank Account Reviews What are the best Business Bank Accounts Best Business Bank Account Reviews

Business Bank Account FAQ

A business bank account has more features than a typical personal banking account. For example, business accounts might have overdraft protection. They also might have fewer fees and interest-bearing options to help your money grow while stored in the account. A growing number of business checking accounts have integrations with popular eCommerce, payment, and accounting systems.
That depends on the bank. Larger banks with greater longevity typically have minimum daily balance requirements. Smaller banks that are trying to gain a foothold in the banking industry will entice new customers by offering a zero minimum balance requirement. While you'll never be able to completely avoid minimum daily balance requirements at all banks, the trend with newer banks is towards eliminating them in favor of the banking customer.
You can usually find an interactive, searchable map of ATMs near you on each bank's website. Most banks have an association with networks of ATM providers. MoneyPass®, AllPoint, and Green Dot Network® are examples of such networks. By pooling ATM resources in those networks, banks avoid having to build and operate their own ATMs, thus saving themselves and their customers on fees they would otherwise have to charge and pay, respectively. Some banks cover fees even for non-network ATMs.
There are banks that require up to $1,000 as an initial deposit to open a bank account. There are other banks that have lower initial deposit amounts. There are a few that offer a zero initial deposit to open an account and no monthly fees. Yet others offer zero initial deposit but charge a monthly maintenance or subscription fee.
Software and services like QuickBooks, Shopify, PayPal, Stripe, Square, Venmo, and others have proliferated since the beginning of eCommerce in the late 1990s and early 2000s. In the past 10 years, banks have increased their support for third-party financial software. Today it is more likely than not that you can connect your bank account to QuickBooks to import and reconcile bank statements and to direct funds from PayPal, Venmo, and Stripe directly to your checking or savings account. Newer and more innovative banks are beginning to provide integration with cryptocurrencies and the blockchain.
If your bank does not provide the ability to add users to your account, you're stuck sending a copy of your bank statement to your accountant. Or you can share your login credentials with your accountant, which is not recommended. Another option that some banks provide is adding team members. Unfortunately, most of the time those team members have the same ability to move funds that you do, so you're advised to keep a sharp eye on your balances. A few banks have introduced features that allow you to restrict users to specific roles and abilities, or to limit how much money they can handle.
A debit card looks like a credit card and is used similarly to a credit card at a point of sale terminal at a store or via an online eCommerce checkout form. But instead of borrowing money, it allows you to spend money directly from your business bank account. It's important to be careful with a debit card because you don't want to withdraw more money than you have in the account. You also don't want to use a debit card to spend money faster than you bring money in.
ACH stands for Automated Clearing House. Banks belong to networks of money transfer computer systems built for the purpose of coordinating electronic payments and automating money transfers. Typically the money going through the ACH system is handled in batches, which is why it can take between 1-7 days for money to arrive in the destination account. Whenever you transfer money from your bank account to another vendor (say, your accountant or a supplier), you're sending it through the Automated Clearing House system.
The Best Reviews of Business Bank Accounts