What is the best online business bank account in 2026?
None of the top five is a bank. That matters less than you think, and more than the ads admit.
Mercury, Relay, Bluevine, Found and Novo all say the same thing in their fine print: they are financial technology companies, not banks. Your money sits at a partner bank that is a member of the FDIC. That setup is normal and safe enough for most small businesses, but it changes who you call when something breaks and how far the insurance really goes. We compared five accounts on that question first, then on the fees most rankings skip, like cash deposits.
The short answer: Mercury for a startup or online business that wires money and wants up to $5M of FDIC coverage, free to start. Relay for a small business that runs on budgets and wants to deposit cash. Bluevine if you keep a healthy balance and want it to earn interest. Found for a solo freelancer who wants bookkeeping and tax help built in. Novo for a simple free account with up to $5M of coverage.
The ranking is editorial: a sponsored placement is always labeled on its card, and no affiliate link changes a score.
The best business account for how you work
5 online business accounts compared on what matters
The price column shows the official entry plan. The rank follows a typical US small business that wants a reliable, low-cost account, not just the score. Every account here is run by a fintech with a partner bank; the section further down explains what that means for you.
| Best for | What it does best | Free plan | Team size | Visit | ||||
|---|---|---|---|---|---|---|---|---|
| 1 | Mercury | Best for startups | Free wires and up to $5M FDIC | 4.4/5 | $0; Plus $29.90 a month | ✓ | Startups and online businesses | Visit → |
| 2 | Relay | Best for budgeting | Many accounts, cash accepted | 4.2/5 | $0; Grow $30 a month | ✓ | Small businesses and agencies | Visit → |
| 3 | Bluevine | Best for interest | APY on the free plan | 4.1/5 | $0; Plus $30 a month (waivable) | ✓ | Businesses with steady balances | Visit → |
| 4 | Found | Best for freelancers | Bookkeeping and taxes built in | 4.0/5 | $0; Plus $35 a month | ✓ | Freelancers and sole proprietors | Visit → |
| 5 | Novo | Best simple free account | Free, with up to $5M coverage | 3.9/5 | $0 | ✓ | Small businesses that want simple | Visit → |
Monthly prices read on each company's official pricing page in 2026. APYs change often: check the live rate before you move money.
How we compared and scored
A business checking account is plumbing. You notice it only when it fails: a frozen account the week payroll runs, a cash deposit that costs more than expected, an insurance limit you never checked. So the first thing we look at is structure: who the partner bank is, how FDIC coverage works, and what the account does when you need cash or a wire.
We read each company's pricing page and legal disclosures, and hundreds of user reviews, with extra weight on the negative ones. Scores reflect our editorial comparison on five criteria. Rank follows fit for a typical small business, which is why it does not always match the score.
What we left out, and why. Wise Business and Lili: we could not read a current US pricing page for them, and we do not rank an account whose official prices we cannot see. Traditional branch banks (Chase, Bank of America) are a different product and a different page.
- Structure and protectionPartner bank, FDIC coverage limit, sweep program terms.30 %
- Value for moneyMonthly fee, waiver rules, cash deposit and FX fees.25 %
- Features and depthSub-accounts, cards, invoicing, payouts, interest.20 %
- Customer supportReachability, handling of account reviews and freezes.15 %
- IntegrationsAccounting software, payment processors, API.10 %
The ranking is editorial: a sponsored placement is always labeled on its card, and no affiliate link changes a score.
Mercury
Mercury built its name with venture-backed startups, and the free plan is still the best deal in this ranking. Business checking and savings, ACH, wires, real-time payments and checks in USD are all included at $0. Plus, at $29.90 a month, adds invoicing and priority support. Pro, at $299, adds a relationship manager.
Mercury says it plainly: it is a fintech company, not an FDIC-insured bank. Banking services come from Choice Financial Group and Column N.A., both FDIC members. Through those banks, Mercury lists up to $5M of FDIC insurance. Remember that FDIC insurance covers the failure of an insured bank, not of Mercury itself.
Where it beats the others: money movement. Domestic and USD international wires are free, and the interface is the cleanest of the five.
Its limits: foreign exchange and cash. Non-USD wires carry a 1% FX fee, and non-USD card transactions 3%. The pricing page lists no way to deposit cash, so a business that takes cash should look at Relay or Bluevine. User reviews also describe sudden account reviews with slow answers.
Tip: if you get paid in euros or pounds, ask clients to pay in USD when you can. At 1% per non-USD wire, a $50,000 year of foreign invoices costs you $500 in FX alone.
- Free domestic and USD international wires
- Up to $5M FDIC coverage via partner banks
- Clean, fast interface
- ✓Best free plan in the ranking
- ✓High coverage for large balances
- ✓Annual billing 15% off paid plans
- ✗No cash deposits listed
- ✗1% FX on non-USD wires, 3% on cards
- ✗Account reviews can be slow
The best default for a startup or online business. If cash is part of your day, pick something else.
Relay
Relay is built for owners who run their business on envelopes. You open several checking accounts, each with its own purpose, and move money between them on rules. That makes it popular with agencies, bookkeepers and anyone following a profit-first method.
Starter is free. Grow costs $30 a month, with a 14-day trial; Scale is listed at $120 and is currently $90 for a limited time. Relay is a financial technology company, not an FDIC-insured bank: banking services come from Thread Bank, Member FDIC. Through Thread Bank's sweep program, deposits can reach up to $3M of FDIC coverage, at $250,000 per program bank, if the pass-through conditions are met.
Where it beats Mercury: cash. Relay accepts cash deposits for free at Allpoint+ ATMs, and for a fee of up to $4.95 at Green Dot retail locations.
Its limits: the paid plans add up, and the free plan is basic once you need automation. Like every fintech here, support can be slow during an account review.
Tip: create a tax account on day one and route a fixed share of every deposit into it. That one rule prevents the April surprise most small owners know too well.
- Multiple checking accounts per business
- Free cash deposits at Allpoint+ ATMs
- Up to $3M FDIC through a sweep program
- ✓Free plan with real features
- ✓Cash accepted
- ✓Great fit for profit-first budgeting
- ✗Advanced features need Grow at $30
- ✗Scale price is a limited-time offer
- ✗Up to $4.95 per retail cash deposit
The best pick if you budget in buckets or handle some cash. Check the Scale price before you commit to it.
Bluevine
Bluevine's pitch is simple: your operating cash should earn interest. The free Standard plan pays 1.3% APY on balances up to $250,000, if you meet the eligibility conditions listed on the pricing page. Plus, at $30 a month, raises that to 1.75%; Premier, at $95, pays 3.0% on all balances. Both paid plans are waived if you keep the average balance and card spend they ask for: $20,000 and $2,000 a month for Plus, $100,000 and $5,000 for Premier.
Bluevine is not a bank. Deposits are held at Coastal Community Bank, Member FDIC, and its program banks, for up to $3M of coverage per depositor.
Cash is possible but never free: $4.95 per deposit at Green Dot retail locations, or $1 plus 0.5% at Allpoint ATMs.
Its limits: the waiver rules. Miss the balance or the card spend in a month and you pay the fee. And APYs move: the rates above are the ones on the pricing page now, not a promise.
Tip: if your balance hovers around $20,000, put your recurring software bills on the Bluevine card. That alone often covers the $2,000 spend condition.
- Interest on the free plan
- Paid plans waivable
- Up to $3M FDIC coverage
- ✓Your cash earns something
- ✓Up to 50 sub-accounts on Premier
- ✓Cash deposits possible
- ✗Every cash deposit costs money
- ✗Waiver conditions to watch monthly
- ✗APYs can change
The best account if your balance is large and stable. For a business that runs close to zero, the interest will not matter.
Found
Found is aimed at the self-employed, and it shows. The account sorts expenses as you go and helps you put money aside for taxes, so your banking app doubles as basic bookkeeping.
The free plan covers most solo needs. Plus costs $35 a month or $315 a year; Pro costs $80 a month or $720 a year. Cash is accepted for $2 per deposit, cheaper than Relay's retail option or Bluevine.
Found is a financial technology company, not a bank. Banking services come from Lead Bank, Member FDIC, and coverage is the standard $250,000 per depositor, per ownership category. That is lower than Mercury or Novo, and it rarely matters for a freelancer.
Its limits: it is built for one person. Teams, multiple cards and complex payouts are not its strength, and the standard FDIC limit is the lowest in this ranking.
Tip: pay the yearly price only after a few months. At $315 a year, Plus saves $105 against monthly billing, but only if you stay.
- Expense tracking built in
- Tax set-asides
- Cash for $2 per deposit
- ✓Good free plan for solo work
- ✓Cheapest cash deposits in the ranking
- ✓Annual billing discount
- ✗Standard $250,000 FDIC limit
- ✗Not built for teams
- ✗Paid plans needed for advanced tools
The best fit for a freelancer who wants banking and bookkeeping together. Growing teams should look at Mercury or Relay.
Novo
Novo keeps it simple: a free business checking account with a debit card. There is no paid tier to choose from, which is a relief after reading four other pricing pages.
Novo calls itself a fintech, not a bank. Banking services come from Middlesex Federal Savings, F.A., Member FDIC, and eligible deposits can be insured up to $5,000,000 per depositor through Middlesex and other banks in its sweep network. The business credit card and loans come from another bank, Continental Bank.
Why it ranks last: depth. Next to Mercury or Relay, it offers fewer tools, and its homepage says nothing about cash deposits, so a cash business should check before opening.
Its limits: few features beyond the basics, and no paid tier to grow into.
Tip: if you pick Novo for its simplicity, open a second free account elsewhere as a backup. Simple accounts get frozen too.
- No monthly fee
- Up to $5M coverage via a sweep network
- Straightforward app
- ✓Truly free
- ✓High coverage for a free account
- ✓Nothing to configure
- ✗Fewer tools than Mercury or Relay
- ✗Check cash options before opening
- ✗No paid tier to grow into
A fine free account if you want nothing more. Most growing businesses will outgrow it.
Three questions most rankings never ask
Most comparisons list a monthly fee and an APY. Few explain who holds your money, what cash costs, or what happens when your account gets frozen.
Who holds your money, and what FDIC covers
All five companies here are fintechs. Your deposits sit at partner banks that are FDIC members, and FDIC insurance pays out if one of those banks fails, up to $250,000 per depositor, per bank, per ownership category. The higher limits ($3M at Relay and Bluevine, $5M at Mercury and Novo) come from sweep programs that spread your money across many banks. Those programs only work if the pass-through conditions are met. FDIC insurance does not cover the failure of the fintech itself.
What cash really costs
If customers pay you in cash, the ranking changes. Relay takes cash free at Allpoint+ ATMs and for up to $4.95 at Green Dot stores. Found charges $2 per deposit. Bluevine charges $4.95 at Green Dot or $1 plus 0.5% at Allpoint. Mercury lists no cash option. A shop depositing cash twice a week pays roughly $500 a year at $4.95 a deposit, or $208 at $2.
What happens if your account is frozen
The real risk with an online business account is not failure. It is a freeze. Every financial company has to review unusual activity, and a large first deposit can lock your account for days. Reviews of fintech accounts often tell this story. The fix costs nothing: keep a second free account at a different company, with a month of expenses in it.
- Find the partner bank in the footer before you open the account.
- Check whether high FDIC limits depend on a sweep program.
- Count your cash deposits per month and price them.
- Read the waiver rules on any paid plan.
- Open a backup account at a different company.
- Keep invoices handy for your first large deposit.
Open your business account without surprises
Most horror stories in reviews start in the first month: rejected documents, a frozen first deposit, an account that does not fit the business a year later. These six steps avoid them.
Find the partner bank
FirstScroll to the footer of the pricing page. Every account here names its partner bank there: Choice Financial Group and Column for Mercury, Thread Bank for Relay, Coastal Community Bank for Bluevine, Lead Bank for Found, Middlesex Federal Savings for Novo. You can look up any of them on the FDIC's BankFind tool.
- Where
- Footer of the pricing page
Match the account to your entity
ChoiceA sole proprietor and an LLC need different documents, and some accounts are built for one person. Found is designed for the self-employed; Mercury and Relay handle teams and multiple owners better. If you plan to form an LLC this year, open the account under the LLC.
- Solo
- Found or Novo
Have your documents ready
OpeningExpect to provide a government ID, your EIN (or SSN for a sole proprietor) and, for an LLC or corporation, formation documents. A blurry photo or a name that does not match the state filing is the most common reason for a delay.
- Needed
- ID, EIN, formation documents
Flag your first big deposit
ComplianceA brand-new account that suddenly receives a large wire often triggers a review. If you expect investor money or a large client payment, keep the contract or invoice ready and tell support in advance.
- Keep
- Invoice or contract
Open a backup account
SafetyA free account at a different company, with a month of expenses in it, keeps payroll and vendors paid if your main account is frozen. Any of the free plans here works.
- Cost
- $0
Spread balances above $250,000
SafetyIf you hold more than $250,000, check how the sweep program works before you rely on the headline limit. Mercury and Novo list up to $5M, Relay and Bluevine up to $3M, Found the standard $250,000.
- Standard FDIC limit
- $250,000 per bank
Where to go next
These pages pick up where this one stops.
What plugs into your bank.
You are self-employedAccounting for the self-employedTax and bookkeeping.
Your team spends on cardsExpense management for SMBsCards and receipts.
You run payrollPayroll software for SMBsPay your team on time.
You take card paymentsCard readers for the self-employedIn-person payments.
You build your whole toolkitThe freelance toolkitBank, books, invoicing.
Online business banks · FAQ
Is Mercury a real bank?
No. Mercury is a fintech company, and its banking services are provided by Choice Financial Group and Column N.A., both FDIC members. Your deposits are FDIC-insured at those banks. The same model applies to Relay, Bluevine, Found and Novo.Is my money FDIC-insured at an online business account?
Yes, at the partner bank, up to $250,000 per depositor, per bank, per ownership category. Sweep programs raise the total (up to $3M or $5M) by spreading your money across several banks. FDIC insurance covers the failure of a bank, not of the fintech.Which online business bank lets you deposit cash?
Relay (free at Allpoint+ ATMs, up to $4.95 at Green Dot stores), Found ($2 per deposit) and Bluevine ($4.95 at Green Dot, or $1 plus 0.5% at Allpoint). Mercury's pricing page lists no cash option.What is the best free business checking account?
Mercury's free plan is the most complete, with free domestic and USD international wires. Relay's Starter plan is better if you need several accounts or cash. Novo is the simplest, with no paid tier at all.Can an LLC open an online business account?
Generally, yes: these accounts are built for small businesses, including LLCs, but check the eligibility page before applying. Expect to need your EIN, formation documents and an ID for each owner who must be verified. Sole proprietors can usually open with an SSN.Why do online business accounts get frozen?
Usually because of a compliance review on an unusual transaction, often a large first deposit. Send the invoice or contract quickly, and keep a backup account at a different company so you can still pay bills.Do online business accounts pay interest?
Some do. Bluevine pays 1.3% APY on the free plan, for eligible accounts that meet its conditions, and more on paid plans. Rates change often, so check the live number before moving money.
