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Starting a business

Small business bank accounts: 13 options to consider in 2023

Choosing a bank account for your small business is one of the most important decisions you’ll make early on. With so many options available, how do you know which bank to choose? There are many different features—like minimum balances, monthly fees, transaction limits, and APY—that you’ll want to take into consideration. 

If you’re looking for help on how to choose the best small business bank account for you, we’ve got you covered. Our guide highlights 13 of the best business checking accounts for small businesses to choose from in 2023, based on features you may prioritize in a bank account, in no particular order. 

The fees, features, highlights and considerations in this article are based on publicly available information on each bank or FinTech’s websites as of April 25, 2023. Always remember to independently verify the statements and conduct your own research before you make a decision on which account is right for you.



QuickBooks Checking

A business log showing the steps of a worker's day.

Key features

  • Minimum balance: $0
  • Minimum opening deposit: $0
  • Monthly fees: None 
  • APY: High APY on Envelope balances 
  • Free incoming wires

QuickBooks Checking is a small business checking account designed for businesses looking for fast access to their payment funds through connected payment tools, no monthly fees, and high-yield interest. The Envelopes feature allows you to set aside money for your business expenses while earning interest. When used with a QuickBooks accounting plan, this account takes the hassle out of financial planning by seamlessly syncing payments and spending with your books. 


Things to consider  

QuickBooks Checking has neither a monthly fee nor minimum balance requirements, and their high APY on Envelope balances makes them a stand-out option for a small business checking account. 



Highlights

  • No monthly fee, overdraft fees, or minimum balance requirements**
  • High APY on all balances in Envelopes, with no cap**
  • Synced with QuickBooks Payments tools, including invoices and quick requests
  • Can set aside business funds through Envelopes 
  • Can withdraw funds from over 19,000 AllPoint ATMs
  • FDIC insured up to $5 million**
  • Deposit checks using the camera on your phone (for eligible customers only)**


QuickBooks Checking can be accessed without a subscription through QuickBooks Money or with an accounting subscription through QuickBooks Online.


QuickBooks Money

  • Access QuickBooks Checking without a subscription
  • Same-day payment deposits
  • Money-in and money-out insights


QuickBooks Online

  • Access QuickBooks Checking with a subscription to QuickBooks Online and a QuickBooks Payments account
  • Instant payment deposits
  • See cash flow projections up to 90 days and get personalized, predictive insights
  • Automatically syncs payments, spending, and bill pay to your books
  • Integrates with QuickBooks Payroll



Considerations 

  • Limited customer service support 
  • No overdraft protection - bank declines transactions that exceed balance


Who is QuickBooks Checking right for? 

QuickBooks Checking may work well for small business owners who are looking for an account that can help them stay on top of financial planning and who: 


  • Want fast deposits at no extra cost 
  • Are looking for a no monthly fee or minimum balances account option 
  • Want to earn high interest while saving for large expenses with Envelopes
  • Prefer digital financial management and tools 
  • Stay on top of bookkeeping (When used with QuickBooks Online)

Lili Pro

Lili Pro: Earn interest with savings account, low monthly fees

Key features

  • Minimum balance: $0
  • Minimum opening deposit: $0
  • Monthly fees: $0/month for Lili Basic account
  • Earn interest with savings account 

Lili provides a mobile banking solution that could be great for freelancers and independent contractors. If you’re looking for a one-stop solution for personal and business accounting, Lili may be the right solution for you. Lili offers a free business checking account and a premium option, Lili Pro, which comes with more features for small business owners. Though there aren’t any monthly service fees, if you’re looking to upgrade your account, you’ll have to pay membership fees:

  • Lili Pro: $9 per month
  • Lili Smart: $20 per month
  • Lili Premium: $35 per month

Things to consider

Lili Pro is a mobile platform that can help freelancers manage their business and personal finances. 

Highlights

  • Low monthly fees and no minimum balance requirements
  • Comes with an emergency savings account that allows you to put aside funds and earn interest
  • Can send and receive an unlimited amount of customizable invoices
  • Customers can pay you via payment apps, bank transfers, and checks
  • Can accept debit and credit card payments with the Stripe integration 
  • Covers up to $200 in overdraft costs 
  • Earn cashback rewards with participating merchants
  • Connects with QuickBooks Online

Considerations

  • Doesn’t offer wire transfers 
  • Only allows one business debit card 
  • Can take up to five business days for checks to clear 
  • Cash deposits cost $4.95 from Green Dot Bank retail locations
  • No in-person banks, mobile-only experience 

Who might Lili Pro be right for?

Lili Pro might be a great option for freelancers, sole proprietors, and gig workers who work solely online and who:

  • Don’t work with cash or make cash deposits often 
  • Use an SSN as opposed to an EIN when filing small business taxes 
  • Deposit less than 15 checks per month
  • Deposit $50,000 or less per month 
  • Are okay with an app-based banking service
  • Want to have personal accounts and business banking all in one place 

Chase Business Complete Checking

Chase Business Complete Banking: Unlimited electronic deposits, sign-up bonus

Key features

  • Minimum balance: $0
  • Minimum opening deposit: $0 
  • Monthly fees: $15, but can be waived*
  • APY: N/A 


Chase Business Complete Checking may be a go-to bank account option if you’re looking for both an online and in-person banking experience. It allows you to manage your funds and send and receive payments. Chase Business Complete Checking could be great for small businesses with multiple partners as it allows you to request multiple debit cards. 


*To waive the $15 monthly fee, you must meet one of the following criteria: 

  • Hold a $2,000 minimum daily balance 
  • Spend $2,000 or more on your Chase Ink Business card
  • Deposit $2,000 into your account from Chase Payment Solutions like Chase QuickAccept
  • Link a Chase Private Client Checking Account
  • Provide proof of military status 

Things to consider  

Chase bank's multiple branch locations, ATMs, and sign-on bonus may make it a top contender for small business banking. However, there are some things to keep in mind. 


Highlights

  • $300 sign-up bonus for new customers 
  • Unlimited electronic deposits 
  • Access to 16,000 ATMs and more than 4,700 branches in the US 
  • 24/7 customer service
  • Unlimited debit card purchases and ATM transactions 
  • Connects to QuickBooks Online 

Considerations

  • High minimum requirements to waive the monthly fee
  • Only 20 free transactions per month, additional ones charge $0.40
  • Free cash deposits are limited to $5,000 per statement cycle
  • Overdraft fees 
  • No APY

Who is Chase Business Complete Checking right for? 

Chase Business Complete Checking may be right for small business owners who want the full package when it comes to business banking and who: 


  • Can meet one of the requirements needed to waive the $15 monthly fee
  • Make less than 20 transactions per month 
  • Deposit less than $5,000 in cash per month
  • Have mostly electronic transactions and don’t work with a lot of cash 
  • Accept credit card payments
  • Have multiple business partners and need more than one debit card

Wells Fargo Initiate Business Checking

Wells Fargo Initiate Business Checking: Online and mobile banking

Key features

  • Minimum balance: $0  
  • Minimum opening deposit: $25
  • Monthly fees: $10, but can be waived*
  • APY: N/A 


Wells Fargo Initiate Business Checking could be a great option for small businesses looking to grow their business and stay with the same provider long term. Because Wells Fargo banks offer three different types of business checking account options, it can be easy to upgrade to the next tier with more options as your business grows. 


* To waive the $10 monthly fee, you must maintain a $500 minimum daily balance or a $1,000 average ledger balance per month. 

Things to consider

Wells Fargo’s access to so many branch locations makes it an appealing choice for small business owners who prefer an in-person experience, but their account fees are an important factor to consider. 


Highlights

  • 24/7 fraud monitoring
  • Zero liability protection
  • Access to online and mobile banking 
  • 4,900 branch locations and 12,000 ATMs across the U.S.
  • Offers other checking account options that support more transactions as your business grows 
  • Connects to QuickBooks Online 

Considerations

  • Charges a monthly fee (waived if requirements are met)
  • Only 100 free transactions per month, additional transactions cost $0.50
  • Fees for using non-Wells Fargo ATMs 
  • High wire transfer fees 
  • No APY

Who is Wells Fargo Initiate Business Checking right for? 

Wells Fargo could be great for small businesses who appreciate a brick-and-mortar banking experience, are looking for a bank they can work with as their business grows, and who: 


  • Can meet the $500 minimum daily balance required to waive the monthly fee 
  • Average less than 100 transactions per month 
  • Like a mobile and online banking experience in addition to in-person interactions
  • Don’t make over $5,000 in cash deposits per month

Square Banking

Square Banking: No monthly fees, earn interest with Square Savings

Block, Inc. is a financial services company, not a bank. Banking services are provided by Square’s banking affiliate, Square Financial Services, Inc. or Sutton Bank; Members FDIC.

Square Checking & Square Savings¹ are free to get started:

  • Minimum balance to open account: $0
  • Monthly fees: None 
  • APY: Earn high APY on Square Savings accounts

If you’re a small business that already uses Square for transactions, Square Banking may be the perfect solution to manage all of your business finances in one place. Square Banking can make it easy to instantly access and spend funds processed through your Square account, automatically set aside a portion of your Square sales into a savings account, and view detailed reporting within your online dashboard. 

Things to consider

Square Banking’s terms of service impose minimal fees, making it a great bank account option for small business owners looking to receive cash fast. 

Square Checking:

  • No monthly fees
  • Instantly access Square sales with Square Debit Card
  • Add funds with mobile check deposit, for free
  • Transfer funds to an external bank account in 1-2 business days for free, or instantly for a fee

Square Savings:

  • Automatically set aside a percentage of funds, and organized into folders
  • Earn a high yield 
  • No monthly fees
  • No minimum balance required to open account
  • Square sellers may become eligible for business loans. Get the funds in as soon as the next business day (or instantly to a Square Checking account), repay automatically with your Square sales, and no hidden fees.

Highlights

  • No monthly fee or minimum balance required 
  • No overdraft fees, does not allow customers to overdraft
  • Instantly receive funds from Square sales 
  • A percentage of funds can be automatically set aside in a high-yield savings folder
  • Eligible for business loans with a fixed percentage of your daily sales deducted to help repay the funds

Considerations

  • Must use Square payments products
  • No in-person customer service or branch 
  • Third-party ATM fees may apply 
  • No overdraft protection - transactions that exceed balance are declined

Who is Square Banking right for? 

Square banking may be appealing to small business owners who work primarily from a POS system and who: 

  • Prefer instant access to money made through Square sales 
  • Are looking for a way to automatically set aside funds (for business expenses and taxes) in a savings account

Novo Business Banking

Novo Business Banking: Unlimited transactions, refunds all ATM fees

Key features

  • Minimum balance: $0
  • Minimum opening deposit: $0
  • Monthly fees: None
  • APY: N/A 


Novo’s free business checking account offers many perks and integrates with many different types of financial software—which you can get at a discounted price with your account. There are no hidden fees, transfers are quick and simple, and you can apply for an account in just 10 minutes.  

Things to consider  

Novo has little to no fees, making it appealing to many small business owners looking for a fee-free banking experience. However, there are a few considerations to make a note of. 


Highlights

  • No monthly fee or minimum balance required
  • Refunds all ATM fees 
  • Free ACH transfers
  • Unlimited and free mailed checks
  • Free incoming wire transfers
  • Exclusive discounts on business software 
  • Connects to QuickBooks Online 

Considerations

  • Unable to deposit cash 
  • Online only—no physical branch locations
  • No overdraft protectionbanks will charge overdraft fees
  • Can’t send wire transfers
  • Can’t set up recurring payments 
  • No APY

Who is Novo right for? 

Novo Business Banking might be great for small business owners who are looking for a bank account that integrates with different business apps and tools, who work primarily online, and who: 


  • Want little to no fees
  • Don’t handle or get paid in cash 
  • Use ACH transfers often 
  • Are looking for a bank account you can integrate with financial software, like QuickBooks

Digital Federal Credit Union

Digital Federal Credit Union: Unlimited fee-free check writing

Key features

  • Minimum balance: $0
  • Minimum opening deposit: $0
  • Monthly fees: None 
  • APY: Low interest rate


For small LLCs looking for a checking account option outside of big banks, a credit union may be right for you. A credit union like Digital Federal (DCU) offers a more personalized experience for its members with little to no fees. Just about anyone can qualify for membership by joining a partnering organization. 

Things to consider  

Little fees and a competitive interest rate can make Digital Federal Credit Union’s business checking account a great option, but you may be limited to banking with a credit union. 


Highlights

  • No monthly fees or minimum balance required 
  • Offers up to four free debit cards per business account
  • Unlimited fee-free check writing 
  • Mobile and online banking access
  • Free ATM access to 80,000 ATMs

Considerations

  • Branch locations are only in Massachusetts and New Hampshire
  • Requires a membership to qualify for a free checking account
  • Doesn’t yet connect to  QuickBooks Online 

Who is Digital Federal Credit Union right for? 

Digital Federal Credit Union can be a good choice for small business owners who are looking for the best credit union banking option and who:


  • Meet one of DCU’s eligibility requirements
  • Want a more personalized banking experience
  • Have multiple business partners and need multiple debit cards 
  • Want to earn interest on their checking account
  • Are a small LLC with little activity

Relay Financial

Relay Financial: Unlimited transactions, multiple account options

Key features

  • Minimum balance: $0
  • Minimum opening deposit: $0
  • Monthly fees: None
  • APY: N/A 


Relay Financial is a free online bank account that may be best suited for rapidly growing small businesses. This online banking solution charges little to no fees and gives you the option to open multiple accounts. If you’re looking to upgrade to a solution with even more capabilities and features, you can upgrade to Relay Pro for $30 a month.  

Things to consider  

Though there can be a lot of benefits to opening a business checking account with Relay, there may be a few factors you’ll want to consider. 


Highlights

  • No monthly fees or minimum balance required 
  • Can open up to 20 business checking accounts 
  • Can issue 50 debit cards amongst team members 
  • No overdraft fees
  • Unlimited transactions with the ability to set limits on employee cards 
  • Connects to QuickBooks Online

Considerations

  • Can take up to seven business days for checks deposits to clear 
  • Doesn’t offer a business savings account 
  • Unable to earn interest on accounts 
  • Online only, no physical branch locations

Who is Relay Financial right for? 

Relay may be considered by small businesses on the rise who are looking to open multiple accounts and who: 


  • Are okay with an online-only banking experience 
  • Need to distribute a higher volume of debit cards to team members 
  • Want a solution where they can integrate financial services they currently use
  • Run an online business and do not deal with cash

Bluevine Business Checking

Bluevine Business Checking: Competitive interest earned, unlimited transactions

Key features

  • Minimum balance: $0
  • Minimum opening deposit: $0
  • Monthly fees: None 
  • APY: high interest on balances up to and including $250,000

Bluevine is a competitive option for small business owners looking for a free banking solution they can manage online and offers a high-interest rate. Bluevine’s interest is 50 times the national average which is rare for small business checking accounts. On top of that, you’re eligible to open up sub-accounts that can earn interest as well.

*In order to earn interest, you must either spend $500/month with your Bluevine Business Debit card or receive $2,500/month into your checking account or sub-account from customer payments. 

Things to consider

It might be obvious—the biggest pro to banking with Bluevine may be your ability to earn interest on your account balances. However, there may be some downsides you’ll want to consider. 

Highlights

  • No monthly fees or minimum balance required
  • Unlimited fee-free transactions
  • Competitive interest rate on account balances up to $250,000
  • Access to over 37,000 MoneyPass ATMs
  • Can add five free sub-accounts and grant multiple users access
  • Connects to QuickBooks Online

Considerations

  • Online only, no branch locations 
  • Doesn’t offer joint accounts
  • Only issues one debit card per business 
  • Charges a $4.95 fee for cash deposits
  • Charges a $15 fee for outgoing wires

Who is Bluevine right for? 

Bluevine may be a great small business banking option for business owners who are looking for a competitive high-yield checking account and who: 

  • Meet one of the criteria required to earn interest 
  • Don’t need to visit in-person branches 
  • Prefer an online banking experience 
  • Only need one debit card 

Bank of America Business Advantage Fundamental Banking Account

Bank of America: High cash deposit limits

Key features

  • Minimum balance: $0
  • Minimum opening deposit: $100
  • Monthly fees: $16, but can be waived*
  • APY: N/A

With a big bank like Bank of America, you can get the advantage of in-person banking and a user-friendly online banking experience. For small business owners, Bank of America offers two account options—Business Advantage Fundamentals Banking and Business Relationship Advantage Banking—and you can switch them at any time depending on your business needs.

*To waive monthly fees for each cycle, you must maintain an average monthly balance of $5,000, spend $250 or more in net qualified debit card purchases, or become a Preferred Rewards for Business member.

Things to consider 

Bank of America’s business checking account may stand out from other brick-and-mortar banks for its higher transaction and cash deposit limits.

Highlights

  • Thousands of branch locations and ATMs
  • High cash deposit limits for basic and premium accounts
  • Unlimited electronic deposits and debit card transactions with no additional fee
  • 200 transactions per month with no fee
  • Eligible for rewards and perks through Preferred Rewards for Business program
  • Connects to QuickBooks Online

Considerations

  • Monthly fee and minimum opening deposit (waived if requirements are met)
  • Charges fees for overdrafts, stop payments, and wires
  • Charges a cash deposit fee per every $100 deposited after monthly transaction limit is reached
  • No APY

Who is Bank of America right for?

Bank of America can be appealing to small business owners looking to bank with a big bank that can provide them with ongoing rewards as their business grows and who:

  • Can meet one of the required criteria to waive the monthly fee
  • Make a lot of cash deposits
  • Like the ability to bank in-person
  • Are looking for account options

Grasshopper

Grasshopper: Cash back on debit card purchases

Key features

  • Minimum balance: $0
  • Minimum opening deposit: $100
  • Monthly fees: None
  • APY: Earn competitive interest account balances

Grasshopper is a digital bank that may be well-suited for small businesses and startups. Grasshopper’s free online business checking account is complete with unlimited transactions, no minimum balance requirement, no overdraft fees, and the biggest perk, up to 1% cash back on qualifying debit card purchases. They also have an integrated bookkeeping and accounting system that can help you manage your business finances with ease. 

Things to consider

Grasshopper’s cash back rewards may be one of the biggest benefits of banking with them, but there are some requirements that you must meet to enjoy this perk. 

Highlights

  • Free domestic wire transfers
  • No minimum balance required
  • No overdraft fees
  • Unlimited transactions
  • Can earn up to 1.51% in interest on account balances
  • 1% cash back on qualifying purchases
  • Integrated bookkeeping software 
  • Connects to QuickBooks Online

Considerations

  • Minimum opening deposit 
  • Must maintain a $10,000 balance to qualify for APY and cashback rewards 
  • Can’t deposit cash 
  • Online-only banking experience 

Who is Grasshopper right for? 

Grasshopper is well suited for small businesses and startups who are looking for an online banking solution where they can earn rewards and who: 

  • Don’t deposit or deal with cash often 
  • Are a primarily online business
  • Want a built-in bookkeeping system to help keep track of business expenses and cash flow
  • Receive a high volume of wire transfers

Axos Small Business Interest Checking

Axos: Easy cash deposits, earn interest on your balance

Key features

  • Minimum balance: $0 
  • Minimum opening deposit: $100
  • Monthly fees: $10, but waived with a $5,000 average daily balance 
  • APY: Rate based on account balance


Axos is an online bank that offers two business checking account options for small business owners—Basic Business Checking and Business Interest Checking. Axos Bank may stand out from other online banking providers because of its cash deposit capabilities, which could make it a great option for businesses working with a lot of cash. 

Things to consider

Though there are many pros to banking with Axos like their welcome bonus and ATM fee reimbursements, there may be some cons you’ll want to keep in mind when deciding on the right bank account option for your business. 

Highlights

  • Welcome bonus for new small business owners
  • Earn interest
  • First 50 checks are free
  • Unlimited reimbursements on domestic ATM fees
  • 24/7 customer service 
  • Cash deposits with MoneyPass and AllPoint networks
  • Connects to QuickBooks Online 

Considerations

  • High minimum daily balance to waive monthly fee
  • Only 60 free remote deposit transactions per month
  • Doesn’t integrate with any other third-party software outside of QuickBooks

Who is Axos right for? 

Axos Bank may be best for small business owners who: 

  • Don’t receive or deposit a lot of checks 
  • Mostly do business online 
  • Want free ATM access 
  • Can qualify for Axos’ welcome bonus 


What is a business checking account?

A business checking account is a bank account that houses business funds and is used to make day-to-day transactions like bill payments, transferring and withdrawing money, and using a business debit card. 

As a small business owner, it’s best to keep your personal accounts and business accounts separate to maintain accurate records. Keeping your personal funds separate from your business funds can make it easier to monitor spending and make budgets, maintain better bookkeeping habits, and may help you get a business loan or line of credit. 


Common features of a business checking account 

Determining the best bank account for your small business depends on what you’re looking to get out of it. However, there are some key features that are important to keep in mind when weighing out your options. 

  • Fees: It’s important to keep fees to a minimum when choosing the best bank account option. You’ll want to look for any additional fees you may be charged on an account like monthly maintenance fees, overdraft fees, wire fees, transaction fees, and nonsufficient fund fees.
  • Minimum deposit: Many banks require a minimum opening deposit when opening your business bank account. While not all accounts require this, it’s something to consider to ensure you meet the minimum requirement.
  • Minimum balance: Some banks may also require business owners to maintain a minimum balance on their accounts each month, meaning you’ll be required to have a certain amount of funds in your account each month. Going below that required amount could result in additional fees. 
  • Cash deposit limit: Each month, you may be limited to the amount of cash you’re allowed to deposit into your account. If you exceed that limit, the bank may charge additional fees. 
  • Transaction limits: Some banks limit the number of transactions you can make. If your business makes a lot of separate transactions, it’s best to work with a bank with unlimited transactions. 
  • Annual Percentage Yield (APY): Some accounts may offer you the opportunity to earn interest on the money you're saving.
  • ATM capabilities: If you’re using your business debit card outside of your bank’s ATM network, you’ll want to check for additional fees. Many banks charge ATM fees, while some may offer fee reimbursements. 
  • Tool integrations: Many providers offer access to integrated tools and features like free online banking, allowing you to make mobile deposits and pay bills online. Additionally, some accounts may offer other features to support your business as well as compatibility with third-party integrations, like QuickBooks. 


Choosing the right bank account for your small business

Before you commit to a bank provider, make sure you have all of the required documents needed to open a small business bank account, including:

  • Employer identification number (EIN) or Social Security number for sole proprietors 
  • Business formation documents 
  • Ownership agreements 
  • Your business license

Disclaimers:

The information contained on this page is based on publicly available information as of the date this article was published. Information is subject to change at any time, may have changed, or may no longer be available at time of reading. This article is provided for informational purposes only, and should not be construed as legal, tax, accounting, financial, investment or other advice on any subject matter. Neither Intuit Inc., nor its subsidiaries and affiliates warrant that the materials and content contained in this article are complete, accurate or error free. Your business’s financial situation is unique and the products and services contained in this article may not be right for your circumstances. Readers should independently verify statements and conduct their own research.

We provide third-party links as a convenience and for informational purposes only. Intuit does not endorse or approve these products and services, nor the opinions of these corporations, organizations, or individuals. Intuit disclaims any and all responsibility for the accuracy, legality, or content on these sites.

Intuit Product Disclaimers:

QuickBooks and Intuit are a technology company, not a bank. Banking services provided by our partner, Green Dot Bank.




QuickBooks Checking:

**Product Information


QuickBooks Checking Account opening is subject to identity verification and approval by Green Dot Bank.


QuickBooks Payments: Payments' Merchant Agreement applies. QuickBooks Payments account subject to credit and application approval. Subscription to QuickBooks Online required. Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services. For more information about Intuit Payments' money transmission licenses, please visit https://www.intuit.com/legal/licenses/payment-licenses/.

QuickBooks Checking account: Banking services provided by and the QuickBooks Visa® Debit Card is issued by Green Dot Bank, Member FDIC, pursuant to license from Visa U.S.A., Inc. Visa is a registered trademark of Visa International Service Association. Green Dot Bank operates under the following registered trade names: GoBank, GO2bank and Bonneville Bank. Registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits. Green Dot is a registered trademark of Green Dot Corporation. ©2023 Green Dot Corporation. All rights reserved. QuickBooks products and services, including Instant Deposit, QuickBooks Payments, Cash flow planning / forecasting are not provided by Green Dot Bank. Users must apply for both QuickBooks Payments and QuickBooks Checking accounts when bundled.

QuickBooks Money: QuickBooks Money is a standalone Intuit offering that includes QuickBooks Payments and QuickBooks Checking. Intuit accounts are subject to eligibility criteria, credit, and application approval. Banking services provided by and QuickBooks Visa Debit Card are issued by Green Dot Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc. Visa is a registered trademark of Visa International Service Association. QuickBooks Checking Deposit Account Agreement applies. Banking services and debit card opening are subject to identity verification and approval by Green Dot Bank. Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services

FDIC Insurance: QuickBooks Checking account balances are FDIC-insured up to the allowable limits through Green Dot Bank, Member FDIC upon verification of Cardholder's Identity. Coverage limit is subject to aggregation of all of Cardholder's funds held on deposit at Green Dot Bank. Green Dot Bank also operates under the following registered trade names: Go2bank, GoBank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits. Additionally, with Green Dot Bank's Deposit Sweep Program you are provided up to $5 million in FDIC insurance coverage on your account balances.

Deposit Sweep Program: Cash balances above $250,000 will be automatically swept from Green Dot Bank and equally spread across our participating financial institutions, providing you with up to $5 million in FDIC insurance coverage. Customers are responsible for monitoring their total assets at each institution. Learn more and see a list of participating institutions here.

Features

Payments’ Merchant Agreement applies. QuickBooks Payments account subject to credit and application approval. Subscription to QuickBooks Online required.

Instant Deposit at no extra cost: Includes use of Instant Deposit without the additional cost. Instant Deposit is an additional service offered by QuickBooks Payments subject to eligibility criteria. Standard rates apply for ACH, swiped, invoiced, and keyed card transactions. Deposits are sent to the bank account linked to your QuickBooks Debit Card in up to 30 minutes. Deposit times may vary for third party delays.

Next-day deposit: Next-day deposit feature subject to eligibility criteria. Payments processed before 3:00 PM PT typically arrive at your bank the next business day (excluding weekends and holidays). Deposit times may vary for other payment methods, third party delays or risk reviews.

Annual percentage yield: Annual percentage yield: The annual percentage yield ("APY") is accurate as of July 31, 2023, and may change at our discretion at any time. The listed APY will be paid on the average daily available balances distributed across your created envelopes within your primary QuickBooks Checking account. Balances held outside an envelope will not earn interest. See Deposit Account Agreement for terms and conditions.

Envelopes: You can create up to 9 Envelopes within your primary QuickBooks Checking account. Money in Envelopes must be moved to the available balance in your primary QuickBooks Checking account before it can be used. Envelopes within your primary QuickBooks Checking account will automatically earn interest once created. At the close of each statement cycle, the interest earned on funds in your Envelopes will be credited to each Envelope in proportion to the average daily balance of each Envelope. See Deposit Account Agreement for terms and conditions.

No minimum balances or monthly fees: There are no minimum balance requirements to open or maintain this account or obtain the listed APY. Other fees and limits apply. See Deposit Account Agreement for details.

Cash flow planner: Cash flow planning is provided as a courtesy for informational purposes only. Actual results may vary.


Fee-free ATM withdrawals: Fee-free ATM access applies to in-network AllPoint ATMs only (up to 4 withdrawals per statement cycle). For out-of-network ATMs and bank tellers, a $3 fee will apply, plus any additional fees charged by the ATM owner or bank. See app for fee-free ATM locations.

Bill Pay: QuickBooks Bill Pay accounts: QuickBooks Bill Pay is an additional product enablement to an existing QuickBooks Payments account that may require a separate subscription.

Mobile Remote Deposit Capture: Limited availability to existing customers on iOS and Android. Features may be more broadly available soon, but represents no obligation and should not be relied on in making a purchasing decision. Mobile deposits may take up to 5 business days. Limits on the dollar amount(s) and/or number of checks that may be deposited may apply. QuickBooks Checking account’s Deposit Account Agreement applies.

Square disclosures

Square and Block, Inc. are financial services companies, not banks. Square Checking is provided by Sutton Bank, Member FDIC; Savings accounts are provided by Square Financial Services, Inc. Member FDIC. Square Debit Card is issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard International Incorporated, and may be used wherever Mastercard is accepted. All loans are issued by Square Financial Services, Inc., Member FDIC. Actual fees and offers depend on payment card processing history, loan amount and other eligibility factors. Loan eligibility is not guaranteed. All loans are subject to credit approval. Funds generated through Square’s payment processing services are generally available in the Square checking account balance immediately after a payment is processed. Fund availability times may vary due to technical issues.

Bank of America disclosures

You may link Business Economy Checking, Business Interest Checking, Business Advantage Savings, Business Investment Account, and Business CDs. Spend $250 or more in new net purchases each statement/billing cycle using a linked Bank of America business debit card. Purchases must post to that card account to qualify. Purchases must be made on only one of the debit accounts; purchases on any combination of debit cards cannot be aggregated to reach the monthly spend. See Business Schedule of Fees at bankofamerica.com/businessfeesataglance for an explanation of how the monthly fee waiver is applied and how the card spend is determined. The Preferred Rewards for Business program is only available to Small Business, Merrill Small Business, and Bank of America Private Bank® Small Business clients. Clients in the eligible business categories may enroll in the program. To enroll you must have an active, eligible Bank of America business checking account, and maintain a qualifying balance of at least $20,000 for the Gold tier, $50,000 for the Platinum tier, or $100,000 for the Platinum Honors tier in your combined qualifying Bank of America business accounts (such as checking, savings, certificate of deposit) and/or your Merrill business investment accounts (such as Working Capital Management Accounts, Business Investor Accounts, Delaware Business Accounts). The qualifying balance is calculated based on either (i) your average daily balance for a three calendar month period, or (ii) your current combined balance, provided that you enroll at the time you open your first eligible business checking account and satisfy the balance requirement at the end of at least one day within thirty days of opening that account. Refer to your Business Schedule of Fees for details on accounts that qualify towards the combined balance calculation and receive program benefits. Eligibility to enroll is generally available three or more business days after the end of the calendar month in which you satisfy the requirements. Benefits become effective within 30 days of your enrollment, or for new accounts within 30 days of account opening, unless we indicate otherwise. Certain benefits may be available without enrolling in the program if you satisfy balance and other requirements. Additional program information is available at Preferred Rewards for Business.


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