20 Best Small Business Checking Account Features

20 Features Every Small Business Checking Account Should Have

Selecting a checking account can be one of the most important early decisions that your small business makes. A small business checking account gives you the ability to easily make purchases, transfers and deposits for your small business, while keeping all of your personal finances separate. This can make your bookkeeping easier while also giving you access to a number of other financial services.

Look for These Small Business Checking Account Features

Here are some of the key features that your business should look for in order to make the best possible choice.

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No Monthly Fees

The last thing that most small businesses need is another monthly expense. So before signing up for a new bank account, make sure you understand all of the potential fees involved and make sure there are either no or very low monthly fees involved so you don’t end up putting your business in a worse financial situation.

Online Banking Options

Today’s businesses manage their money most efficiently right from their own devices. Most major banks and credit unions now offer some kind of online banking functionality. So make sure the platform is user friendly and includes all the features you use on a daily basis.

Mobile Apps

To go even further, a bank that offers mobile apps can make checking and updating your financial information even more convenient.

Card Options

A bank that offers credit and debit card options can make spending on business expenses, both online and in stores, fairly seamless.

Bookkeeping Integrations

Some business bank accounts feature the ability to sync or share information with QuickBooks or your favorite accounting software in order to make your bookkeeping easier and more accurate.

Payroll Features

For small businesses that have employees, you can also prioritize accounts that feature integrations with payroll programs in order to make that process easier.

Free Transfers

If you have multiple accounts, partner accounts or regularly transfer money between your personal and business accounts, it’s also a good idea to find a bank that doesn’t charge for transfers so you can freely move your money however you like.

Convenient Locations

For those who regularly make deposits in person, it’s a good idea to open your account at a bank that’s near your business or another location that you visit regularly. In fact, more than a quarter of small businesses use the same bank for both their business and personal accounts.

Hours That Work for You

In that case, you also need to make sure that the bank is open when you are likely to go there for deposits or withdraws. For those businesses that need to make late-night deposits, some banks even offer an after-hours dropbox for that purpose.

Access to Credit Options

At some point, you might determine that your business could benefit from a loan or line of credit. In some cases, getting a loan can be easier if you work with a financial institution that you already do business with. So it can be beneficial to choose a bank for your checking account that also offers small business loans at competitive rates.

High Cash Deposit Limits

For businesses that deal with a lot of cash, like restaurants and bars, make sure you learn about any fees or limits on cash deposits. You don’t want to pay a lot extra for processing cash transactions if that’s a good percentage of your business.

No Transaction Limits

Some bank accounts also include limits on the amount of transactions you can make. So if your business is one that makes a lot of separate transactions, make sure there is no limit or at least one that will work for your business.

Express Deposits

Every small business wants to get paid easily. So look for bank accounts that offer express deposit options, like mobile check deposit so you can easily add those funds into your account.

Online Reporting

For tax purposes and bookkeeping, having easy access to financial reporting features can be a major plus. Look for a bank account that lets you access that info online.

Paperless Options

The last thing your business probably needs is more paper documents to organize. So open an account at a bank that offers paperless options so you can simply manage your account online.

Account Alerts

Some accounts also offer alerts if there’s any notable activity with your account. This can be a very helpful feature for keeping your account secure.

Liability Protection

In the case that there is any unauthorized usage of your account, liability protection can help you manage your risk and avoid paying big in those instances.

Interest Payments

If you keep a fairly high balance in your business checking account, receiving interest payments can help you to grow that total even more. It might not make a huge difference, but it’s a nice extra when you can find it.

Savings and Investment Options

As your business grows, you might decide that you want extra accounts in order to save for future initiatives or even make investments. If you choose a bank with these options, taking those steps can be a lot easier.


Many small business checking accounts also offer rewards programs. You can earn anything from cash back to airline miles, depending on the needs of your business.

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Annie Pilon Annie Pilon is a Senior Staff Writer for Small Business Trends, covering entrepreneur profiles, interviews, feature stories, community news and in-depth, expert-based guides. When she’s not writing she can be found exploring all that her home state of Michigan has to offer.

3 Reactions
  1. I honestly did not even know some of these features existed. Great post. Very thorough.

  2. I like that the banks are now providing so many options for small business owners. There are now plenty of opportunities for us to manage our finances and investments.

  3. Quickbooks gives efficient solution for all the accounting details sometime you need to share your financial data/file details sometime you need to share your financial data/file to 3rd party vendor but it takes time quickbooks-accountant-copy help to resolve this issue.

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