The Best (and Worst) Checking Accounts for New Businesses

You know you need a business checking account—but which one? Getting this right is about more than just avoiding fees. The right bank can make your life easier, automate the boring stuff, and scale with you. The wrong one? A constant headache.

Based on real-world experience—both ours and our clients’—here are the best business bank accounts, the ones to avoid, and a few we’re keeping an eye on.

Let’s dive in.

Best for Remote-First Businesses: Novo Checking

If you run a remote-first business, Novo is a solid choice. Here’s why:

• No monthly fees, no minimum balance. Zero-cost banking? Always a win.

• Built-in business tools. Budgeting, invoicing, and basic bookkeeping—good enough to get started before you hire an accountant.

• Seamless integrations. Easily connect with Venmo, Wix, Slack, and other business essentials.

• Bonus perks. Signing up gets you discounts on platforms like Gusto, Squarespace, Xero, Google Ads, HubSpot, and more.

Simple, effective, and built for online entrepreneurs.

Best for Location-Based Businesses: Bank of America or Chase

If you need brick-and-mortar banking with a strong ATM network, Chase and Bank of America are reliable bets.

• Strong in-person presence. Need to deposit cash? Handle high-volume transactions? These banks deliver.

• Scalability. Easy to add users and expand as your business grows.

• Solid credit card options. Plenty of choices with rewards and perks.

The downside? Their online services lag behind more tech-forward banks. User interfaces are clunky, and they nickel-and-dime you for things that should be free like sending checks.

Banks Our Clients Haven’t Loved

Some banks look great on paper but fall short in real life. Here’s what to avoid:

• American Express. Great perks if you travel, but limited acceptance and higher fees. More style than substance. 

• Premier Bank. No integrations with key providers like QuickBooks, Xero, or Gusto—a dealbreaker for many businesses.

• Comerica Bank. Outdated online interface, and statements disappear after a few months.

• Local Credit Unions. Flexible lending, yes. But their tech? Usually outdated, buggy, or nonexistent.

Banks We’re Watching

These banks have potential, and we’re curious to see how they perform:

• Live Oak Bank

• Brex

• Mercury

• Lili

• Found

• Bluevine

• Grasshopper

If you try one of these, let us know how it goes. We love real-world feedback.