Free business checking accounts don’t charge a monthly service fee. But, even these”free” checking account generally charge fees for additional services. We looked in the fee arrangements of this available free business checking account and picked Capital One, US Bank, and BBVA Compass.

Fit Small Business Uses: Bank of America

The company behind Fit Small Business has been banking with Bank of America for five years and plans to continue to use Bank of America because of its company checking. They’ve over 16,000 ATMs across the nation for your advantage, and their Company Fundamentals accounts is free with a $3,000 minimum equilibrium (or upon fulfilling other criteria). New customers may qualify for a bonus of up to $350. Click here to find out more.

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Greatest Free Small Business Checking Account: Capital One Spark Business Checking

Capital One Spark Business Checking is our choice as the greatest free business checking accounts. There’s no monthly fee to use this free account and it’s lower fees for extra services when compared to US Bank and BBVA Compass, like a lower monthly payment and a lower money deposit fee.

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Best Free Business Checking Account

	Monthly Fee	Number of ATM’s	Number of Branches
Capital One Spark Business Assessing	None	40,000+ (2,000 accept deposits)	700+	Visit Capital One
US Bank Silver Business Package	None	5,000+	3,000+	Visit US Bank
BBVA Compass	None	40,000+ (1,000 accept deposits)	650+	See BBVA Compass

*Last Updated: March, 2018

Free Small Business Checking Account Comparison Table: Capital One vs. US Bank vs. BBVA Compass

	Capital One Spark Business Assessing	US Bank Silver Business Package	BBVA Compass ClearConnect for Business
Monthly Fee Learn More	No Monthly Fees	No Monthly Charges	No Monthly Fees
Transaction Fees Know More	Unlimited Transactions	150/Month Free, $0.50 for Every Extra Transaction	Unlimited Transactions, $1 In-Branch Withdrawal Fee
Money Deposit Fees Know More	$5,000/Month Free, 0.2% for Every Additional Dollar Deposited	2,500/Month Free, 0.3percent for Every Additional Dollar Deposited	$5,000/Month Free, 0.3percent for Each Additional Dollar Deposited
Wire Transfer Fees Know More	$15 Incoming Wire, $25 Outgoing Wire	$20 Incoming Wire, $30 Outgoing Wire	$15 Incoming Wire, $25 Outgoing Wire
ATM Fees Learn More	No Out of Network Fee	$2.50 Out of Network Fee	No Out of Network Fee
Size of Network Learn More	40,000+ ATMs (2,000 Accept Deposits), 700+ Branches	5,000+ ATMs 3,000+ Branches	40,000+ ATMs, (1,000 Accept Deposits), 650+ Branches
Entry Learn More	Online Nationally, Branches in CT, DC, DE, LA, MD, NJ, NY, TX, VA	Online Nationally, Branches in 25 States Across the U.S.	Online Nationally, Branches in AL, AZ, CA, CO, FL, NM, TX
	www.CapitalOne.com	www.USBank.com	www.BBVACompass.com

Greatest Free Business Checking Account: Capital One Spark Business Checking

Capital One Spark Business Checking is our pick as the best overall free small business checking account as it doesn’t have a monthly fee. It also has the best fee arrangement for additional providers compared to US Bank and BBVA Compass.

By way of instance, Capital One does not charge a monthly payment and has the cheapest cash deposit fee on the list. The two US Bank and BBVA Compass, on the other hand, charge transaction fees for transactions above a particular monthly limitation. Further, US Bank and BBVA Compass charge cash deposit fees for deposits above a monthly threshold.

Capital One also gets the biggest overall network compared to US Bank and BBVA Compass. However, it boasts over 40,000 ATMs, only 2,000 of these accept deposits in addition to issue withdrawals. This is over BBVA Compass but much below US Bank’s community of fully-functional ATMs.

What is more, Capital One just has 700 nationwide branches across 9 states. This is over BBVA Compass but less than US Bank’s federal branches.

If you’re searching for a free small business checking account using a large and flexible network, you may want to check out US Bank. The US Bank Silver Business Package gives the largest network on our list regarding fully functional physical places.

Further, some checking account for example with Chase Bank, while they charge a monthly fee, make it straightforward to waive that charge. If interested, check out our post on the greatest small business checking account with a fee.

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Best Free Business Checking Account using a Large Network: US Bank Business Silver Package

US Bank Silver Business Package is our choice for the best free small business checking account using a massive network. While it’s typical for free small business checking account to be predominantly online, US Bank offers a free business checking account with over 8,000 fully functional locations across 25 countries.

This is in contrast to Capital One and BBVA Compass, both of which have a limited network in terms of functionality. By way of example, US Bank has more than 5,000 ATMs that accept checking deposits that is more than twice the number of both Capital One and BBVA Compass.

What’s more, US Bank has over 3,000 nationwide branches, giving it the largest network of physical places on our list. Capital One and BBVA Compass only have 700 branches and 650 branches, respectively.

However, the US Bank Silver Business Package gets the highest fee arrangement on the list. If you’re trying to lower your fees, it may be wise to go with either Capital One or BBVA Compass, both of which have a comparable fee arrangement.

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Free Business Checking Account Option for Sole Proprietors: BBVA Compass ClearConnect for Business

BBVA Compass ClearConnect for Business is just another good free small business checking account option. It’s a network size that’s similar to Capital One and a fee structure that is nearly as great. This usually means that it’s a lower price option when compared to US Bank and is a fantastic alternative to Capital One in case you’re closer to some BBVA Compass branch. It has a network size that’s similar to Capital One and a fee arrangement that’s almost as great. This usually means that it is a lower price option when compared to US Bank and can be a fantastic choice to Capital One in case you’re nearer to some BBVA Compass branch.

However, BBVA Compass ClearConnect for Business is a free business checking account specifically for sole proprietors. This is only because BBVA Compass only offers its free accounts to one-person companies that are at the beginning stages of growth.

Considering that the fees and networks are nearly comparable, BBVA Compass ClearConnect for Business is a suitable alternative if you’re a sole proprietor who is situated closer to some BBVA place than to a Capital One place. Further, as it’s lower fees than US Bank, it is also a good alternative if you’re situated closer to some BBVA location than to a US Bank location.

If you’re not a sole proprietor you’re going to want to explore Capital One or US Bank instead.

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In-Depth Review: Capital One vs. US Bank vs. BBVA Compass

Size of Network

A bank’s network represents the entire number of its available ATMs and branches. It is important to note that a few banks have limitations on the capabilities of the networks. For example, some banks have ATMs that allow for withdrawals although not deposits.

Further, some banks have a lot of ATMs however only a few branches. It’s important that if you evaluate the size of a bank’s network that you assess its capabilities and flexibility along with the number of overall places. When it’s making cash deposits or applying for funding — make sure that your lender’s system will function for your industry.

Capital One Spark Business: The Capital One Spark Business Checking account has the largest overall network within our buyer’s guide. Capital One has over 40,000 fee-free ATMs, which is tied with BBVA Compass for the many from the three options. Capital one also has over 700 branches in the U.S., which is more than BBVA Compass. You are able to locate their branches and ATMs by utilizing their division locator.

However, while Capital One has over 40,000 ATMs, only 2,000 of these ATMs accept deposits as well as withdraw cash. This is in contrast to US Bank, which has over double the sum of fully functional ATMs. US Bank also has over 3x the amount of national branches.

US Bank Silver Business Package: The US Bank Silver Business Package has the most elastic network on the list. US Bank has over 5,000 fully functional ATMs and more than 3,000 branches. You can find their locations through their branch locator.

BBVA Compass ClearConnect for Business: The BBVA Compass ClearConnect for Business has a similar network to Capital One in the scope and size. BBVA Compass has over 40,000 fee-free ATMs and more than 650 branches nationally. However, very similar to Capital One, BBVA Compass only has 1,000 fully operational ATMs that accept deposits along with withdrawals. You are able to find their places using their division locator.

Monthly Fee

It is more common for business checking accounts to charge a monthly fee rather than not. These yearly charges are generally between $10 — $30 and are waived if certain monthly standards are satisfied. However, there are still situations where banks provide free small business checking account without any monthly charges. The 3 accounts on our record do not have a monthly fee and are considered”free.”

But, remember that essentially all small business checking account charge fees for extra services. These services include such matters as transactions, cash deposits, wire transfers, ATM fees, and much more.

Capital One Spark Business: The Capital One Spark Business Checking doesn’t cost a monthly fee.

US Bank Silver Business Package: The US Bank Silver Business Package also does not have a monthly fee.

BBVA Compass ClearConnect for Business: You guessed it, the BBVA Compass ClearConnect for Business, much like both other free accounts, does not have a monthly fee.

Transaction Fees

Even for free small business checking account, it’s typical for banks to charge a payment for surplus checking account transactions. The industry average is 200 free transactions per month, after which a per-transaction fee around $0.45 — $0.50 is billed for each additional trade.

However, these averages are most commonly found on small business checking accounts that have a monthly service fee. Free business checking account will typically offer between 75 — 150 free transactions a month and a $0.50 transaction fee for every additional trade.

Transactions include, but are not Limited to:

Checks paid
Checks deposited
Cash deposited
ACH move
Online bill pay transactions
charge card transactions

If a business owner exceeds the number of free transactions in a month, he or she should expect to pay a small fee for each additional trade. There are some free small business checking account, however, such as with Capital One, which do not charge transaction fees.

Capital One Spark Business: The Capital One Spark Business Checking is the only free small business checking account on our list that does not have a monthly payment. This usually means that a small business owner has unlimited monthly transactions, making Capital One a good option for small businesses with high transaction volumes.

US Bank Silver Business Package: The US Bank Silver Business Package offers 150 free transactions per month, and this is in keeping with industry averages for free from business checking accounts. Following this monthly threshold is met, US Bank costs $0.50 per extra trade until the month starts.

BBVA Compass ClearConnect for Business: The BBVA Compass ClearConnect for Business, similar to Capital One, does not charge a monthly payment. This usually means that you have unlimited access to business checking account transactions. However, BBVA Compass does charge a $1.00 transaction fee for in-branch withdrawals that exceed 4 per month.

Money Deposit Prices

Besides transaction fees, it’s typical for a free small business checking account to bill a cash deposit fee. A cash deposit fee is usually a charge assessed on the total monthly cash deposited by a small business owner. Similar to transaction fees, banks provide a certain amount of free cash deposits before charging a per-dollar fee.

The industry standard for money deposit charges on a free business checking accounts is cash deposit charges is typically:

$5,000 / month free money deposits
0.3% per-dollar fee for every added dollar retreated

Though some free small business checking accounts don’t have trade fees, virtually all of them possess a cash deposit fee.

Capital One Spark Business: The Capital One Spark Business Checking account has the cheapest money deposit fees on our listing. For instance, Capital One provides up to $5,000 free money deposits monthly. Following the threshold is met, Capital One charges a 0.2% commission on every additional dollar deposited until the new month starts.

US Bank Silver Business Package: The US Bank Silver Business Package gets the priciest cash deposit fee on the list. Contrary to Capital One, US Bank offers up to $2,500 free cash deposits each month. After a small company meets the deposit brink, US Bank fees a 0.3% commission for every dollar deposited until the start of the month.

BBVA Compass ClearConnect for Business: The BBVA Compass ClearConnect for Business charges a similar cash deposit fee to Capital One. By way of example, BBVA Compass allows up to $5,000 free cash deposits for month and a 0.3% fee on every extra dollar deposited. Like another two on our listing, the free money deposits restart at the beginning of the new month.

Wire Shipping Charges

A wire transfer is an electronic funds transfer from one company’s checking account to another company’s checking accounts. Banks typically charge a wire transfer fee between $15 — $30 per domestic transaction and between $15 — $40 per international transaction. These fees are charged for both incoming wires in addition to incoming wires.

Capital One Spark Business: The Capital One Spark Business Assessing charges the next wire transfer fees:

Domestic incoming cable: $15 per trade
Domestic outgoing wire: $25 per trade
International incoming cable: $15 per transaction
International outgoing wire: $40 per transaction

Here is the very best wire transfer fee structure on the list.

US Bank Silver Business Package: The US Bank Silver Business Package fees the following wire transfer charges:

Domestic incoming cable: $20 per transaction
Domestic incoming cable: $30 per transaction
International incoming cable: $25 per transaction
International incoming cable: $50 per transaction

These are the highest wire transfer fees on our listing.

BBVA Compass ClearConnect for Business: The BBVA Compass ClearConnect for Business charges the following wire transfer charges:

Domestic incoming cable: $15 per trade
Domestic incoming cable: $25 per transaction
International incoming cable: $15 per transaction
International outgoing wire: $45 per trade

This fee structure, like nearly all of BBVA’s fees, are very similar to Capital One. The only distinction is that BBVA costs a higher fee for international outgoing wires.

ATM Fees

The magnitude of a bank’s network of ATMs is often a determining factor when selecting a free business checking account. This is because banks typically charge an ATM fee if you utilize an out-of-network ATM. The more in-network ATMs a lender gets the lower the chances of being charged an ATM fee.

It is normal to see ATM prices between $2.00 — $3.00 for Indices trades and also fairly common to find banks that don’t charge an ATM fee in any way. But, regardless of whether a lender charges a out-of-network ATM fee, independent ATM providers may also charge a commission of their own, typically approximately $2.00 — $3.00.

Capital One Spark Business: The Capital One Spark Business Checking account is among those small business checking account which don’t charge an ATM fee. Users are free to utilize any of Capital One’s 40,000 fee-free ATMs. Further, Capital One does not charge a fee on out-of-network trades.

But, out-of-network ATM providers may charge a service charge of their own, which makes it important to stay inside Capital One’s network of 40,000 ATMs, if at all possible.

US Bank Silver Business Package: The US Bank Silver Business Package costs a $2.50 ATM commission for each transaction conducted outside of US Bank’s network. This is the industry average for ATM fees.

BBVA Compass ClearConnect for Business The BBVA Compass ClearConnect for Busines, such as Capital One, provides access to over 40,000 fee-free ATMs. Further, BBVA does not charge a fee of its own for out-of-network trades.

However, just like Capital One, out-of-network ATM providers might assess a service fee of their own. Users should try to use one of BBVA Compass’s 40,000 in-network ATMs.

Entrance

Free business checking account typically operate on line and also have just a few physical locations. This reduction in overhead allows the banks to decrease their costs and give free business checking account to their clients.

It is therefore important to look at the availability of a free business checking account. All free accounts are available online nationwide, but many only have physical locations in a couple of states.

Capital One Spark Business: The Capital One Spark Business Checking account is available on the internet nationwide through the use of its web portal and mobile program. There are also more than 40,000 ATMs throughout the country, giving it one of the largest ATM systems out there. However, Capital One only has 700 branches in the states of Connecticut, Washington D.C., Delaware, Louisiana, Maryland, New Jersey, New York, and Texas.

US Bank Silver Business Package: US Bank Silver Business Package — The US Bank Silver Business Package account can also be available online nationwide with its internet portal and mobile program. It also has the biggest network of fully functional locations, with over 5,000 ATMs and more than 3,000 branches nationwide. Further, US Bank has locations in 25 states throughout the country, which makes it the most commonly accessible free business checking account.

BBVA Compass ClearConnect for Business: The BBVA Compass ClearConnect for Business is comparable to Capital One in that it has over 40,000 ATMs however only a few branches across the nation. Especially, BBVA has over 650 branches spread across the following states: Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas. BBVA is also available online nationally through using their internet portal and mobile app.

Other Essential Features

In addition to penalties and network size, there are always additional features that sets you free small business checking account from another. These key features include:

Accounting integrations
Mobile programs
Customer service

Capital One Spark Business: The Capital One Spark Business Checking account is able to integrate with such accounting applications as QuickBooks, Xero, Freshbooks, and Wave Apps.

Additionally, Capital One also offers a mobile program which helps small business owners monitor their balances and conduct such transactions as checking deposits, bill pay, balance transfers, and more. The cellular app has ratings of 4.6 on Android and 4.7 on Apple.

Eventually, Capital One has dedicated account management for every one of its small business checking account. Customer service representatives can also be contacted online 24/7.

US Bank Silver Business Package: The US Bank Silver Business Package has integration capacities including QuickBooks, Xero, Freshbooks, and Wave Apps.

Like Capital One, US Bank has a mobile app which allows small business owners to fully manage their checking account with bill pay, deposits, transfers, and much more. The app is rated 3.8 in the Google Play store and only 2.5 in the iTunes store.

Additionally like Capital One, US Bank has an account management team that’s assigned to your particular small business checking account. Customer support help may also be found online via chat or the phone.

BBVA Compass ClearConnect for Business: The BBVA Compass ClearConnect for Business, like another free small business checking account on our listing, can integrate with the following accounting applications: QuickBooks, Xero, Freshbooks, and Wave Apps.

BBVA Compass, such as most free small business checking accounts, has a mobile app that lets you fully manage your checking accounts online. Similar to US Bank and Capital One, BBVA Compass’s mobile app lets you transfer cash, pay bills, deposit checks, and more.

Ultimately, BBVA Compass is dedicated to helping sole proprietors expand their companies. Because of this and more, BBVA provides each of their small company customers using a dedicated team of account managers.

Bottom Line

Free small business checking accounts are a fantastic alternative for small and growing businesses. However, while there are no monthly charges, free small business checking accounts typically charge fees for additional services, including transfer fees and cash deposit fees. That is why it’s important to check at the fee structure of every free small business checking account before choosing an alternative. If you are ready to begin, browse our guide about how to start a business bank accounts.

Running a business can be hard — picking a completely free business checking account should not be. That’s why we did the research and discovered Capital One are the best free small business checking account. The Capital One Spark Business Checking doesn’t have a monthly fee, and unlike the other two options on our list, it does not charge a monthly transaction fee. Furthermore, it has the cheapest money deposit fee on our list. If you’re trying to find a free alternative you’ll want to check out Capital One first.

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Fit Small Business Uses: Bank of America

Greatest Free Small Business Checking Account: Capital One Spark Business Checking

Best Free Business Checking Account

Free Small Business Checking Account Comparison Table: Capital One vs. US Bank vs. BBVA Compass

Greatest Free Business Checking Account: Capital One Spark Business Checking

Best Free Business Checking Account using a Large Network: US Bank Business Silver Package

Free Business Checking Account Option for Sole Proprietors: BBVA Compass ClearConnect for Business

In-Depth Review: Capital One vs. US Bank vs. BBVA Compass

Size of Network

Monthly Fee

Transaction Fees

Money Deposit Prices

Wire Shipping Charges

ATM Fees

Entrance

Other Essential Features

Bottom Line

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