Open Free Business Checking Account

Checking Accounts for Sole Proprietors, Start-ups and Small Businesses

Are you a start-up company, a sole proprietorship, or a small business? If your business falls under any of these categories then budgeting and watching your business expenditures are extremely important to you. As a new business or a small business, saving $15 to $20 or more per month while seemingly a miniscule amount, definitely adds up. That money could be used for many other things including business supplies. If you find a bank or credit union that offers you to the opportunity to open a free business checking account, savings like these and more become possible.  


Smart accounting means watching all of your expenditures. There are many banks and credit unions that want your business. They realize that small businesses represent tremendous opportunities to their financial institutions. As a new or small business, if you are happy with your business checking account, you are likely to move your personal checking account over to them as well. If your business grows and you bring on new employees, you provide the bank or credit union the opportunity to also make money from your growth. In addition, there is always the possibility that your new employees may also want to do business with them as well. By thinking in this manner, it makes a lot of sense that banks and credit unions would be more than willing to offer your business a free checking account. 


When deciding on where you want to open your business checking account, you need to evaluate your business need checking and spending needs. It makes sense to find a bank or credit union that can cater to your business financial needs. It is helpful to work with a financial institution that will be able to grow with your business needs.  

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Types of Questions to ask when choosing a bank or credit union for your business: 

  1. Should I open a business checking account with a local or community bank? 
  2. Will a local or community credit union be able to meet all of my business needs? 
  3. Can I count on my bank to provide me a business loan if I need one? 
  4. What types of fees will be associated with my business checking account? 
  5. Does my bank or credit union offer easy ways to waive my business checking account fees, if there are any? 
  6. Does my business checking account pay interest on the money that is in my account? 
  7. Is there a minimum balance requirement with my business checking account? 
  8. Does the bank or credit union offer free online banking? 
  9. Is there easy access to bank or credit union representatives if I need assistance? 
  10. What types of fees will I encounter if I need to use international ATMs for withdrawals?  
  11. How many items can be processed free each month? 
  12. Is there a charge for night depository? 
  13. How many free checks per month can I write? 
  14. What are the maximum cash deposits per month that I can make for free? 
  15. Is there a limit to the number of monthly ATM transactions that I can make?

Just because a bank or credit union charges your business checking account a monthly fee, does not mean that you should avoid it. There are many banks that do charge a monthly fee, but they make it very easy to waive the monthly maintenance fee. Some banks might simply require at least 1 monthly transaction with your business debit card. Others may have a minimum balance requirement. There are many different options that can allow you to waive the monthly fees for your business checking account, thereby turning a business checking account that charges a monthly maintenance fee into a free business checking account. If you really like the bank or credit union and it meets all of your requirements for business checking, speak to your bank or credit union representative and find out if there is a way to waive those monthly fees.


Opening a no fee business checking account in now easier than ever. Many banks and credit unions allow you to open your business checking account online and others will allow you to do it by phone. Of course, you’ll still have to provide proof of identity to verify who you are, but it isn’t always necessary to physically go into a branch to open a business checking account. There are many banks and credit unions that cater to small businesses. As a small business owner, it might be beneficial to you to work with these types of institutions. If you do all of your business banking with local banks and credit unions, many of them reinvest in the local community. By working with local banking institutions, you will in effect be helping to strengthen the businesses within your community. That being said, a free business checking account with a large bank might offer certain perks that you aren’t able to get with a local bank or credit union. At the end of the day, you have to assess your business checking account needs and choose the bank or credit union that best meets those needs.