Free Online Business Checking Account

Free Online Checking Accounts for your Small Business

Being able to conduct business online whether buying a product or service, or selling one can be the difference of a business that succeeds and a business that fails. More and more small businesses are seeing the benefits of doing business online and that includes banking online. As a small business that is counting every penny, there are tremendous benefits to a free online business checking account. As more and more small business venture online to do their banking, more and small business owners are coming to realize the importance of their relationships with their banks.  

An online business checking account is essential for every business owner. A free online business checking account is a great way to do your business checking online and save money. A free online business checking account is not just about the monthly maintenance fees that you have to pay to your bank or credit union. While the monthly maintenance fee to your company business checking account is important, there are many other fees that can make you think twice about your business checking account.  

Many banks may offer to waive your monthly business checking fees, but they may limit the amount of transactions that you can conduct with your company checking account. If your business does more transactions than your specific business checking account allows, you will be assessed additional fees. This is something that a lot of small business owners do not pay attention to. This is one of those things that could lead to a misunderstanding down the line when you start to exceed your allowed business checking transactions and then your bank or credit union begins to levy fees against you. 

Another very important point to note when searching for a free online business checking account is whether or not there is a monthly minimum balance requirement. Once again, this is something that many small business owners do not pay attention to. A free business checking account does not mean the same thing at all banks. If there is a high minimum balance requirement for your small business checking account and you feel that you cannot meet that balance requirement, then that free business checking account is not going to be free for you. Each month that you are not able to meet your monthly minimum balance requirement for your business checking account, you will be assessed a fee.  

Many small business owners have tendency to accuse banks for trying to take advantage of them. While this may be the case sometimes, it isn’t always the case. As a small business owner, it is important to watch every dollar that you spend. Before you sign that business checking agreement, you should read the agreement fully and make sure that you approve of and agree to the checking account requirements. The more that you are able to understand before signing on the dotted line…the more you will be able to work within the bank’s requirements and keep your free online business checking account, free. If the point of opening an online business checking account is to have a free checking account for your business, then you need to be able to do what is required to keep that checking account free.  

Find a Free Online Business Checking Account

Every business is concerned about paying fees, and every business is doing their best to save on unnecessary expenses. Paying banking fees for a business checking account would surely be considered to be an unnecessary expense. By banking online your business can save on banking fees and allow you the business owner the option to use those fees that you would have had to pay for other needed purposes. 

Take for instance the Wells Fargo Business Checking Account. This account is eligible for Wells Fargo Business Weekend Sweep® Service, an automated solution to earn interest on funds from your business checking account. This most basic business checking account from Wells Fargo is designed for businesses with only a moderate amount of transactions. 

Wells Fargo Business Checking Benefits and Features: 

• Business Platinum Debit Card  
• Online statements and check images  
• Convenience of tracking expenses by category with Business Spending Report  
• Overdraft Protection enrollment linked to a business savings or business
  credit account.  
• Unlimited 24/7 telephone access to our National Business Banking Center.  
• $100 minimum opening deposit  
• Up to 150 combined paid and deposited items free of charge  
• Up to $5,000 cash deposited free of charge  

The $10 monthly service fee is waived when you:

Maintain $3,000 minimum daily balance, or 

Maintain $6,000 average ledger balance, or 

Have a Wells Fargo Business Payroll Services transaction from this account each month. 

US Bank has a free business checking plan that is ideal for businesses with limited transactions and needs, it serves as an option for people who prefer a simple approach to banking. It is called the Silver Business Package. There are no fees for the Silver Business Package and there is also no minimum balance requirement.  

US Bank Silver Business Package Benefits: 

• 50% off first check order up to $75  
• Payment Solution statement fee is waived for the first two months   
• 50% discount on U.S. Bank Gold Personal Checking account monthly maintenance fees  
• U.S. Bank Silver Business Checking with 150 free transactions per statement cycle  
• No minimum balance requirement  
• No monthly maintenance fees   

KeyBank is yet another bank with a free business checking account. The most basic business checking account from KeyBank is called KeyBank Business Basic Checking. It is a free checking account for business owners and there is a $250 minimum opening deposit that is required. Also, if you close the account within 180 days, you will be assessed a $25 fee.  

KeyBank Basic Business Checking Account Features: 

• Up to 50 combined transactions per month at no charge  
• No minimum balance requirement   
• No monthly Maintenance Service Charge  
• Check out our online banking options to manage your cash flow and accounts online  
• Free Bill Pay allows you to pay your bills quickly and easily online  
• Receive a free KeyBank Debit Card  
• Convenient access at more than 1,500 ATM locations  
• Monitor your account on your mobile phone or smartphone  

For Florida residents, EverBank has a free checking account called the EverBank Small Business Checking. This small business checking account is said to be best for businesses set up as sole proprietorships that file taxes using Schedule C of their 1040. 

EverBank Small Business Checking Features and Requirements: 

• $1,500 initial deposit requirement  
• No monthly fee  
• No minimum balance to earn interest  
• Free Visa Business Check Card  
• Allows you two methods to deposit checks from your office via online check deposit and remote deposit capture  
• EverBank will automatically reimburse non-EverBank charges on U.S. ATM transactions during any month that you maintain a minimum average daily balance of at least $5,000  
• Overdraft protection (subject to approval by bank)  
• Free 6-month credit monitoring  

Cardinal Bank with most of its locations in Northern Virginia has a free business checking account for small business owners. Their Free Business Checking is designed for businesses with low to moderate transaction volume.  

Cardinal Bank Free Business Checking Account Features: 

• Minimum opening deposit only $100.00  
• No minimum balance  
• No monthly maintenance fee  
• No charge for the first 500 items  
• No fee for using a non-Cardinal ATM4   
• Free Online Banking and Free Bill Pay  
• Free Business Visa® CheckCard available with Free Cardinal Visa Extras  
• Free Go Cardinal Mobile Banking  
• Easy to balance monthly statement and free check imaging  

Free online business checking accounts exist to be utilized. They are created by banks and credit unions that are looking to get you business. If you are not happy with your current business checking, maybe it is time for you to look elsewhere. Start taking advantage of the free business checking accounts that are tailored to fit the needs of your growing business.