Top 5 Best Small Business Bank Accounts in 2021: Which One Is Right for You?

Opening up a small business can be an exciting adventure, but it also comes with its own set of challenges. One of the biggest hurdles that small business owners face is finding the right bank account that suits their business needs. With so many options available in the market, it can be overwhelming to choose the best one. In this article, we will explore the top 5 best small business bank accounts in 2021, their features, and what makes them stand out.

1. Chase Business Complete Banking

Chase Business Complete Banking is a great option for small business owners who want a bank account with low fees and minimum requirements. They have a low monthly maintenance fee of $15 and require no minimum deposit to open an account. In addition, they provide access to over 16,000 ATMs and 4,700 branches nationwide. As a small business owner, if you require physical banking services, this is an excellent option.

2. BlueVine Business Checking

BlueVine Business Checking is an online-only bank account, making it an excellent option for small business owners who prioritize convenience. They also offer unlimited transactions and no monthly maintenance fees, making them an affordable option. One of the unique features of BlueVine is that they offer a 1.00% interest on balances up to $100,000, which is higher than most other banks in the market.

3. Axos Bank Basic Business Checking

Axos Bank Basic Business Checking provides free banking services without any monthly maintenance fees. They also provide surcharge-free ATM access to over 90,000 ATMs nationwide. Small business owners who require no minimum balance requirements or monthly fees will find Axos Bank Basic Business Checking an attractive option.

4. Novo Business Checking

Novo Business Checking is an all-digital bank account that offers features like no monthly fees and no minimum balance requirements. Additionally, they provide unlimited transactions and have a user-friendly mobile app that makes banking easy. However, it’s important to note that Novo Business Checking does not offer physical locations for banking services.

5. NorthOne Business Banking

NorthOne Business Banking is best suited for small businesses that require integrated financial services into their banking account. Additionally, they provide a cashback program that benefits the business owner when making purchases. While they do have a monthly maintenance fee of $10, it’s waived if the account receives a minimum deposit of $2,000 or more each month.

Conclusion

Choosing the right bank account for your small business is crucial for smooth operation and maintaining financial stability. It’s important to identify what your business needs and compare it with the bank’s offerings to ensure a good fit. Whether you prioritize low fees, access to physical locations, or a user-friendly digital experience, there’s a bank account out there that’s right for you. Consider the top 5 best small business bank accounts in 2021 when making your decision.