Discover the Best Online Small Business Checking Accounts for 2026
Some banks only offer one-size-fits-all account options, but the small business checking account that works for one business won’t have all of the features and capabilities that another business needs.
At TowneBank, we understand that one-size-fits-all doesn’t work for small business banking — even small businesses reveal an incredible degree of diversity. That’s why we offer a comprehensive range of business bank accounts, products, and services. Whether you’re looking for the best business checking account for sole proprietors, LLCs, or other entities, our dedicated bankers are here to help our business members find the best online small business checking accounts, along with additional products and services, designed to meet their unique business needs.
To help you find the best online small business checking account for you, let’s dive into some of the features, capabilities, and services you should consider during the selection process.
How Choosing the Best Online Small Business Checking Account Supports Your Business
Opening a business bank account is essential to business operations. It ensures the separation of business and personal finances for simplified, compliant bookkeeping practices. Plus, opening a business bank account establishes credibility and professionalism while safeguarding assets and providing your business access to financial tools designed to streamline transactions, accounting, and financial management.
Choosing the best online small business checking account will also support your business in a variety of additional ways with powerful account tools, personalized services, and enhanced features designed to support your business’s operations, from the front counter or online checkout to the back office.
Selecting the right account is vital to gleaning all of these benefits and taking your business banking from basic to beyond with powerful features, functionality, services, and tools designed to support your business, its operations, and its aspirations.
9 Key Features to Consider When Looking for the Best Online Small Business Checking Account
When looking for the best small business checking account for LLCs, sole proprietorships, startups, or other types of businesses, business owners should shop around to compare and contrast business account eligibility requirements, bank features, fees, and the following:
1. FDIC Insured Financial Institution
Deposit accounts held at member FDIC financial institutions are insured up to $250,000 per bank, per account ownership category.
2. Account Balances
Accounts often have minimum balance requirements, such as a minimum opening deposit and ongoing daily balance requirements. Falling below the minimum could result in a service fee.
3. Transaction Limits and Transaction Fees
Most business accounts limit the monthly transactions within a statement cycle. This includes deposits, withdrawals, and checks. These accounts incur a fee for every item that exceeds the limit during a single statement cycle.
4. Cash Processing Limits
Many banks also have a cash-in limit that caps the amount of cash deposits that the bank will process for free. Exceeding the cash-in limit could result in transaction fees.
5. Monthly Service Fees
Monthly service fees can vary from account to account, and even the best online small business checking accounts can sometimes incur them. Check whether your account has any monthly service fees. These fees could include charges for failing to maintain a minimum daily balance, receiving paper statements, or other services.
6. Additional Fees
Ask your local banker for a fee schedule for each type of business checking account. This will list the current charges for overdrafts, out-of-network ATM fees, cash-processing fees, replacement cards, wire transfers, cashier’s checks, change orders, and more.
7. Interest Rates
Not all accounts earn interest. However, some of the best online business checking accounts do earn interest. Look for competitive rates, ask about the annual percentage yield (APY) on your account, and find out how interest is compounded.
8. ACH and Wire Transfers
Automated clearing house (ACH) transfers and wire transfers are transfers that process through the Federal Reserve. Ask about the speed available for these transactions. Depending on the type of services provided (i.e., batch processing, individual processing, same-day settlement, and next-day settlement) and the bank’s business day (cutoff time), outgoing and incoming wires and ACH transfers might occur on the same day as initiation or take several days to process.
9. Perks
The best online small business checking accounts include a variety of perks designed to accommodate the needs of small business owners. Compare and contrast the perks included with your account of choice to be sure you choose the package that’s best for your business.
Our business bankers are here to save you time and stress by providing clear explanations and information on each of our business checking account options. We are always here to answer your questions and guide you through the process of opening a new business account.
A Close Look at the Features Included with the Best Online Small Business Checking Accounts
The best online small business checking accounts include features like:
- Business Debit Cards and Credit Cards
Business credit cards and debit cards help you conduct business, purchase supplies, and pay vendors with ease. Look for options that allow you to add authorized users for additional convenience. - Online Banking
Robust online banking tools enable business owners to manage their accounts, quickly assess cash flow, and strengthen financial management with comprehensive tools like bill pay, remote access, and real-time updates. Additionally, business owners can add authorized users with limited access and controls for viewing statements, reconciling accounts, or managing transfers. - Mobile App
With so much to do, mobile banking for business has become a vital financial management tool for business owners who can’t always be at their desktop computers. - Mobile Deposits
Small business owners save time and avoid unnecessary trips to the bank with business checking with mobile deposit. Mobile deposit allows businesses to deposit checks electronically, without physically visiting the bank. - Electronic Payment and Invoicing Tools
Online and mobile banking should also help your business pay vendors and get paid by your customers with several mobile and electronic payment solutions, such as electronic invoicing, digital wallets, and QR code payments. - Seamless Bookkeeping Integration
Online banking for small businesses should be designed to integrate with your bookkeeping and accounting software, such as QuickBooks, for streamlined back-office processes like account reconciliation, transaction recording, and reporting. - Overdraft Protection Options
While the best small business checking account for LLCs and sole proprietors will be designed to optimize cash management, overdrafts can still happen. Look for a business checking account with options for built-in, automatic overdraft protection. Overdraft protection can sometimes be facilitated through a business line of credit or automatic account transfers. Either way, overdraft protection saves you from overdraft fees and returned items.
Our dedicated bankers are here to help our business members identify the specific features, perks, and tools they need to help them choose the best business checking account for sole proprietors, LLCs, and other types of small businesses.
Access to More: Additional Considerations When Choosing the Best Small Business Checking Account for LLCs or Sole Proprietorships
Opening a business checking account doesn’t just give your business access to the perks and features associated with the account; it also connects your business with an entire ecosystem of business banking services and expertise.
The best online small business checking account for your business is the one that’s backed by comprehensive services and a banking culture designed to support small business owners. The best small business checking account for sole proprietors and LLCs connects business owners to extensive business banking services like:
- Treasury Services
Banks with the best online small business checking accounts also offer services designed to optimize cash flow with easily integrated financial management tools and services focused on accounts receivable, accounts payable, payroll, reporting and liquidity, fraud protection, and cash management. - Merchant Services
The best small business checking account for LLCs and other businesses includes merchant services options that enable small businesses to expand beyond only accepting traditional payment methods with electronic, mobile, and contactless payment. - Customer Service
Customer service that goes above and beyond sets the best online small business checking accounts apart from the rest. Small business owners especially stand to benefit from a high level of personalized customer service where a dedicated banker with extensive experience is available to provide assistance with tools and support with financial management. - Access to Small Business Loans
When you choose the best business checking account for sole proprietors and other small businesses, you should also gain the opportunity to begin developing a relationship with a business lender who can help you strengthen your business’s credit score and cash flow with a business line of credit, equipment loan, or business credit card. - Other Types of Accounts
The best online small business checking accounts also help business owners meet the rest of their banking needs. This includes options for opening other types of business accounts, like business savings or business money market accounts. Additionally, small business owners often enjoy the convenience of handling their personal banking with the same financial institution. - Community Involvement
Most business owners find the best small business checking account for LLCs at banks that emphasize community involvement. Financial institutions thrive when the businesses operating in their communities thrive, and so the best online small business checking accounts will be those that come with a mutually beneficial banking relationship.
At TowneBank, we actively strive to provide the best business checking account for sole proprietors, LLCs, and all small businesses by offering a myriad of services and benefits that go way beyond the basic. We invite business members to attend educational, networking lunch-and-learn events designed to support our small business community, and we invite businesses to be featured in our member spotlights to highlight their successes.
Business Account Recommendations: The Top Online Small Business Checking Accounts
The best small business checking account for LLCs or sole proprietors depends on the business’s individual needs. As mentioned above, no two businesses are exactly alike, even within a category of business type or industry. Based on each account’s features, our business bankers can help you assess your business’s operations and needs to determine the right option for you.
Comparing Our Best Online Small Business Checking Accounts
At TowneBank, we offer several banking solutions thoughtfully tailored to meet the unique needs of small businesses like yours. From these small business solutions, we help our business members identify the best business checking account for sole proprietors, LLCs, nonprofits, and more.
Value Classic Business Checking
In small businesses where every penny matters, this account provides a perfect balance between powerful features and fees, making it our best business checking account for sole proprietors and LLCs that anticipate smaller monthly transaction volumes and lower daily account balances.
This account is often considered our best small business checking account for LLCs and sole proprietors who want to leverage powerful financial management tools designed to support operations and growth. The account features access to electronic transactions, invoicing, remote deposit, fraud protection, a selection of complimentary services, and more.
Value Select Business Checking
Designed for unincorporated businesses, this is an interest-bearing business checking account that affords business owners access to several other features and tools. It offers another candidate to potentially be considered our best business checking account for sole proprietors.
Value Solutions Business Checking
This solution can be the best small business checking account for LLCs and even sole proprietors who need a bit more from their bank, such as ACH transfers, payroll tools, accounts payable and receivable tools, escrow, security, merchant services, and custom reporting. This checking account available at TowneBank gets your business access to our suite of treasury services and merchant services, plus specialists in each who are here to support your business’s operations and financial management.
Value Classic Plus Business Checking
Similar to our Value Classic account, Value Classic Plus is designed to accommodate businesses with higher monthly transaction volumes, making it a good choice for businesses that process lots of transactions, like check deposits, cash deposits, and withdrawals, every month.
We’ve designed this account specifically to meet the needs of 501(c)(3) nonprofit organizations, foundations, associations, and other organizations. This account features a small opening deposit requirement and has no minimum daily balance to help nonprofits and not-for-profit organizations operate more efficiently on tight budgets, while rewarding a larger cash balance with the potential for interest earnings. Additionally, the account includes built-in tools for streamlining donations, dues, payroll, and cash flow.
At TowneBank, we take pride in providing the best business checking account for LLCs, sole proprietors, and nonprofits, and that’s why all of our business checking accounts come with a suite of powerful tools and features, such as mobile banking, mobile deposit, overdraft protection availability, paperless electronic statements, online account monitoring, and access to additional treasury services and merchant services specialists.
Additionally, all of our accounts come with exceptional customer service delivered by a dedicated, local business banker who is here to support your business’s financial management.
Narrowing Down Your Options: What's the Best Business Checking Account for Sole Proprietors and LLCs?
The best business checking account for sole proprietors and LLCs is the small business account that meets all of your needs, streamlines financial management, and saves you time.
When determining which account is the best business checking account for sole proprietors, LLCs, or your unique business, consider the following questions:
- What is your business’s average daily and monthly transaction volume and amount?
- How many checks do you write and accept on average each month?
- On average, how much cash do you take in each month?
- What kind of balance do you plan to maintain in the account?
- Are you concerned about the $250,000 FDIC insurance limit?
- Do you run a brick-and-mortar store?
- Do you take on-site payments from customers?
- Do you conduct B2B transactions?
- Do you have an online e-commerce store?
- What kinds of payments would you like to accept from your customers? (Credit cards, debit cards, tap-to-pay, digital wallet, text-to-pay, wire transfers, ACH transfers, or something else?)
- Do you need to send invoices?
- Do you have employees or a bookkeeper who needs access to business credit cards or online banking features?
- Do you need other types of business accounts?
- Are you interested in business loans?
- Do you want to manage your personal banking and business banking at the same bank?
Answering these questions can help you better identify your business’s banking needs, and this will help our business bankers work with you to determine the best small business checking account for LLCs or your sole proprietorship.
Recap: How to Find the Best Business Checking Account for Sole Proprietors, LLCs, and Other Businesses
To find the best online small business checking account, thoroughly assess your business’s banking needs, and then look for an account with the features, tools, and capabilities you require. With the help of our dedicated business bankers, we will help you find the right account and banking services for your business with ease.
From Account Opening to Growing Your Business: Enjoy White-Glove Service with the Best Online Small Business Checking Account
At TowneBank, we take a personal interest in each of our members, beginning with our in-person account opening process, where our dedicated business bankers are here to guide you through every step of finding and opening the best online small business checking account. We will get to know you and your business so we can make well-informed recommendations for the TowneBank products and services that will best support your business’s needs, operations, and goals while introducing you to our full suite of business accounts, products, and services to help you see what’s possible for your business’s banking future.
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