What Is The Easiest Business Bank Account To Open

As a business owner, you may ask, what is the easiest business bank account to open? Previously, brick-and-mortar banks were willing to provide free business checking accounts.

Now, you don’t have to visit a branch physically as online banks and financial institutions allow free business bank accounts without a deposit.

Most people choose checking accounts above saving accounts because of their maintenance fees and other expenses. But you may wonder, knowing that a free online checking account with virtual debit cards is easily manageable through mobile apps, and they offer incremental perks.

BlueVine Business Checking and NBKC Bank Business Checking accounts are the easiest business bank account to open with no deposit for small business owners. BlueVine is great for earning interests, and NBKC Bank is great for business owners who want more Cash Deposits over time.

What Is The Easiest Way To Open A Business Bank Account

Above, we have briefly mentioned the easiest business bank account to open from online platforms. Now, we will break down the easiest way to open a business bank account.

Remember, not all banks have the same procedure; below, we will discuss the method that goes with the bulk. Based on banks, you may notice some slight changes in the account opening process.

Put Your Basic Information

First of all, enter into the bank’s home page, and click on the “sign up” or “getting started” options to open an account. It is usual that, first, they’ll ask you for your basic info like name, address, mobile, email, ZIP code, etc.

After filling in your fundamental info, you need to select a password and log in with the confirmation email from your mail inbox. Regardless of the above details, you may need to provide details about your percentage of business ownership, your date of birth(DoB), or your SSN(Social Security Number).

If your business is shared with others, you may need to provide some basic info about them. With your SSN, you may need to provide your valid ID from the government or your driving license as evidence of identity.

Fill Out Your Business Details

After entering your personal details, you need to provide some fundamental info about your business. For instance, you may need to equip the permitted name of your company first of all.

Then, the DBA(If it is applicable), business entity type, actual address, EIN (optional), industry type, and the average annual revenue. Based on the business entity, you need to provide different documents/info to validate your business.

Here is a list of needed info based on business entity types to validate business formation-

Sole ownership: This is a usual entity type that will require your SSN without taking the EIN or the Tax ID number of your business. Besides, you have to provide data that verifies you are an owner of a registered business(business license or registration of name license).

LLC: In this case, you may need to provide or display the writings of an organization that is filed with the living state.

Partnership: You must provide the licenses of your business along with the partnership contracts(agreements) as proof.

Corporation: You may need to provide or show the writings of an organization that is filed with the living state.

Comprehend The Terms & Conditions

Once you have provided or shown the required information regarding your business and attached the documentation of business formation, you need to review the overall application.

You may also be required to review the documents regarding the agreement prior to submitting the application. Usually, in this step, you need to submit the application for approval with the chosen bank for a small business bank account.

Submit Your Application

After you have reviewed your application form with all the added documents, it’s time to submit your approval application. Since most banks providing free bank accounts are online, you will receive instant approval after the submission of the application.

After submitting and getting approval, you need to log into your bank website with your account details. Note that, in this stage, you need to transfer funds to check if the organizing process is flawless. You’ll also receive the login info, debit card, and other relevant elements from the bank to use your account.

What Is The Easiest Bank To Open A Business Account

Amongst the easiest bank to open a business account, the Novo Bank account and BlueVine bank account are the most used. However, Chase Bank, Bank of America, and US Bank are on the list of some of the easiest banks providing free business checking and banking accounts.

BlueVine Business and NBKC Bank Checking accounts are the easiest banks to open a business account. BlueVine is great for gaining interest, and NBKC Bank is best for owners who want more Cash Deposits over time. If you want to distinguish between your company and personal funds, BlueVine is best.

Complementary Concise business checking accounts can have a greater impact on these businesses & industries. According to the IRS(Internal Revenue Service), all small business owners need to have a distinct bank account for the purpose of easy fund management of their business.

What Is The Easiest Business Checking Account To Open Online

Now you know the easiest business checking account to open online. You can also open the easiest business checking account online without a deposit, and your credits will not be affected.

Below we will discuss the top 5 banks with the easiest business checking account to open online, which we have sorted after a thorough analysis. Let’s step forward!

1. BlueVine Business Checking

BlueVine Business checking account is the easiest business bank account to open without any minimum deposit.

It comes with one of the best-in-class mobile banking features for Online business banking.

It is great for concise business holders who desire to earn profit and safeguard funds.

Features

• Provides up to 1.20 percent interest if for the minimum balance of 1000 dollars
• Charges no monthly fees, overdraft fees, incoming wire fees, and ACH payments fee
• It gives access to more than 38000 charge-free ATMs across the nation
• You can deposit cash from more than 90 thousand Green Dot locations
• Your funds will be FDIC insured for up to 250 thousand dollars

With BlueVine’s free business checking accounts, you can go for mobile and online banking. It also offers to pay vendors and bills of the ACH payments or any site transfer checks. Moreover, open a bank account with no deposit required for a BlueVine account is super easy, which will take less than five minutes.

2. NBKC Business Account

Small business holders who want almost free-of-cost banking without any opening deposit can open an NBKC business checking account. It doesn’t require any minimum balances to open a checking account. Besides, you are not directed to yield any deposits when unlocking the checking account.

Features

• Provides business banking with zero transaction fees without any limits or restrictions
• Get access to 32000+ MoneyPass ATM locations for cashouts
• If you use any other bank ATMs, you can get up to 12 dollars refund
• Provide a stable online platform and debit card for both way banking
• Offers up to 0.01 dollars Annual Percentage Yield on the minimum account balance of $1000

When using NBKC bank, you don’t have to pay any extra charges when paying bills or depositing funds. Besides this, NBKC bank doesn’t charge fees for incoming domestic wires, eStatements, Cashier checks, Stop Payments, overdrafts or NSFs, and other relevant services.

3. American Express Business Checking

If you want a free business checking account with 24/7 customer support, then American Express Business Checking will be your preferred choice.

It is also one of the easiest free checking accounts that require no opening deposits, and it offers a huge bonus on account opening for qualified business owners.

Features

• Charges 0 dollars monthly fees and require no minimum opening deposit
• Provides up to 1.10 percent interest on balances for up to 500000 dollars
• You can get up to 300 dollars in opening bonus if you qualify
• Allows making unlimited transactions per month without any transactions fees
• Get a satisfying 24/7 customer support without any hassles on account managing

It doesn’t charge any overdraft or stop payment fees. Note that the American Express Business Checking account doesn’t support depositing cash. Besides, the online or mobile-based baking application is only available for iOS devices; it doesn’t support Androids.

4. Mercury Business Bank Account

If you are a business holder who wants to digitally manage the business funds, you can check the Mercury Business Checking account. It is a free business checking account number instantly that is best for digitally-based businesses. One of the key features of Mercury is they allow single sign-on facilities.

Features

• Provides Physical and virtual debit cards for easy & hassle-free banking
• Charges no monthly fees, overdraft fees, incoming wire fees, and ACH payments fee
• Gives access to more than 55000 charge-free ATMs across the nation
• Clients that have multiple businesses can access their diverse accounts through a single sign-on (SSO) feature.
• You can set customized consumer permissions for your business team members.

With all that features, you can also set your auto transfer rules for your business accounts. It offers checking accounts that are totally integrated with the leading accounting software. But with Mercury, you can’t earn any interest.

5. Novo Bank Business Checking

Looking for small business checking accounts for ATM usage? The NOVO bank business checking account can be an excellent option for you.

It offers ATM access across the country without any withdrawal charges. Besides, you can make international transactions based on ATMs.

Features

• Charges no monthly fees, overdraft fees, incoming wire fees, and ACH payments fee
• You don’t have to pay any minimum opening deposits
• Requires no minimum balance for account opening
• Refunds all ATM fees, and you can make international transactions
• You can deposit cash with US Postal Service money orders

Since it doesn’t offer direct cash deposits, then you may need to toil much to make a deposit. Besides that, Novo is an online banking platform that doesn’t carry any material units. With Novo business checking, you can’t earn any interest.

What Are The Easiest Bank To Get A Business Account

The easiest bank to get a business checking account typically comes with contactless ATMs, great interest levels, no free banking, and flexible minimum balance requirements.

Some of the easiest banks to get a business account are – Open bank, Chase, Ally, Chime, Axos Bank, Capital One, etc. With these business banking account providers, you can also get virtual debit cards for effortless usage.

Final Verdict

We have compiled the methods and other relevant facts on the easiest business bank account to open online with no deposit. We have added some of the best free business checking accounts providing banks.

Before choosing a bank for the easiest online bank account, you need to consider fees, interest rates, and other features of all banks to avoid disappointment afterward.