Our picks in detail
MeBest for startups and online businessesPartner
Mercury · Business checking
4.7/5Up to about 4% through Treasury (eligibility applies)
Monthly fee$0
YieldUp to about 4% through Treasury (eligibility applies)
OpeningAccount open in days
Cash depositsNo
Mercury is the business account most founders end up with because it behaves like software: fast onboarding, free wires, unlimited virtual cards, team permissions and clean integrations with accounting tools. It is a fintech with FDIC coverage through partner banks, so there are no branches and no cash deposits. For an online or professional-services business that is the right trade.
Pros
- No monthly fees, overdraft fees or minimums
- Free domestic and international USD wires
- Virtual and physical debit cards with spend controls
- Up to $5 million in FDIC coverage through sweep networks
- Strong API and integrations
Cons
- No cash deposits
- Not a bank; services are provided through partner banks
- Not every business type is eligible
- Credit card requires a cash balance to qualify
ReBest for cash-flow buckets
Relay · Business checking
4.5/51% to 3% on savings balances
Monthly fee$0
Yield1% to 3% on savings balances
OpeningAccount open in days
Cash depositsYes
Relay is the account for owners who run Profit First or otherwise want their money split into buckets. Up to 20 checking accounts, 50 debit cards and automatic percentage-based transfers come free. Cash deposits are possible through Allpoint ATMs, which Mercury cannot offer.
Pros
- Up to 20 free checking accounts
- Automatic allocation rules
- Cash deposits at Allpoint+ ATMs
- Free standard plan
Cons
- Outgoing wires cost on the free plan
- Paid plan needed for same-day ACH and accounting sync
- Smaller FDIC sweep than Mercury
ChBest for branch access
Chase Business Complete Banking · Business checking
4.3/5None
Monthly fee$15
YieldNone
OpeningSame day in branch
Cash depositsYes
The largest branch network in the country plus built-in card acceptance through QuickAccept. The $15 monthly fee is waivable with a $2,000 balance or qualifying activity, and a welcome bonus is usually on offer. If you handle cash or want a banker who can later underwrite a line of credit, a big bank still earns its place.
Pros
- Thousands of branches and ATMs
- Accept card payments with same-day deposits
- Fee is easy to waive
- Path to Chase business credit and loans
Cons
- $15 monthly fee unless waived
- Limits on free transactions and cash deposits
- Online tools lag the fintechs
How we chose
Accounts were scored on fees and how easily they are waived, transaction and cash deposit limits, wire costs, software and integrations, FDIC coverage structure, and how the account supports a future credit relationship.
Market note, November 2026. Fintech accounts now cover most of what a small business needs, and their deposit histories are increasingly accepted by online lenders for underwriting. Keep a branch bank if you handle cash.
Types to know
Fintech business accounts
Software-first, usually free, FDIC coverage through partner banks. No cash.
Traditional bank accounts
Branches, cash handling, relationship lending. Monthly fees with waivers.
Credit union accounts
Low fees and local lending, fewer digital tools.
How to get one
- Step 1
Open the account before you need a loan
Lenders want three to twelve months of business bank statements. The clock starts at account opening.
- Step 2
Match the account to how money moves
Wires and software: Mercury. Buckets and cash: Relay. Branches and card terminals: Chase.
- Step 3
Keep it clean
No overdrafts, no commingling with personal spending. Underwriters read every line.
How to compare offers
FDIC coverage
Fintechs sweep deposits across partner banks to extend coverage, up to $5 million at Mercury. Confirm the structure for balances above $250,000.
Frequently asked questions
Is Mercury safe?
Deposits are held at FDIC-insured partner banks and swept across a network for coverage up to $5 million. Mercury itself is a technology company, not a bank.
Do I need a business bank account for an LLC?
Legally it is strongly advised to preserve liability protection, and practically every lender and payment processor requires one.