The 8 best banks and business banking accounts for startups in 2025

The modern business landscape demands banking solutions that deliver efficiency, insights, and scalability. Evaluate these key features when choosing your financial platform:

Fee structure and minimum balance requirements

Modern business banking should be transparent and cost-effective. Look for solutions that eliminate monthly maintenance fees and minimum balance requirements. Many leading fintech platforms now offer zero-fee structures while providing premium features like unlimited ACH transfers and wire payments. This approach ensures businesses of all sizes can access enterprise-grade banking services without traditional overhead costs.

Spending controls and user permissions

Effective financial management requires granular control over company spending. Look for platforms offering customizable spending limits, department-specific budgets, and role-based access controls. Advanced solutions provide instant virtual corporate credit cards for employees, automated approval workflows, and the ability to set merchant category restrictions.

Real-time transaction monitoring

Today's business environment demands immediate visibility into financial operations. Top banking platforms provide instant transaction notifications, real-time spend tracking, and automated receipt matching. This visibility helps prevent fraud, simplifies reconciliation, and enables data-driven decision-making.

Global payment capabilities

International business operations need robust global payment features. Seek platforms offering multi-currency accounts, competitive foreign exchange rates, and the ability to send/receive payments worldwide. Modern solutions eliminate traditional cross-border payment complexities while providing better exchange rates than conventional banks.

Integrations with business software

Your banking solution should seamlessly connect with your existing tech stack. Essential integrations include accounting software (QuickBooks, NetSuite), expense management tools, and ERP systems. The best platforms offer automatic transaction categorization, real-time data syncing, and custom API access for developing tailored integrations.

Great customer service and support

Look for platforms offering 24/7 support through multiple channels including phone, email, and chat. The best solutions provide dedicated account managers, comprehensive documentation, and rapid response times to resolve issues quickly. High-quality support teams should understand both banking and technology to address complex needs effectively.

The right banking solution acts as a strategic partner in your business growth. Modern platforms combine these essential features with user-friendly interfaces, making them powerful tools for scaling companies. Let's explore the top banking solutions available for startups today.

1. Brex

Brex reimagines business banking for the digital age by combining corporate treasury management, spend controls, and automation in one unified platform. Brex eliminates traditional banking headaches while delivering sophisticated financial tools that growing companies need. High-yield accounts, corporate cards, expense tracking, and international payments work together seamlessly, powered by AI that automates accounting and streamlines operations.

What distinguishes Brex from both traditional banks and fintech competitors is its comprehensive approach to financial management. By offering checking accounts by our partner Column NA (Member FDIC), treasury accounts, and vault accounts in one place, companies gain a single view of their financial operations without the complexity of managing multiple providers. The platform's intelligent automation handles routine tasks like auto-transfers and automated bill pay, while providing finance teams deeper visibility into spending patterns and cash flow. This integrated architecture means businesses can scale their financial operations without adding layers of complexity or new service providers.

Key features

Industry-leading yield

In an era where every basis point matters, Brex's industry-competitive yields stand out. The platform lifts traditional banking constraints, allowing businesses to earn competitive returns with 100% liquidity without requiring a minimum balance. What's particularly noteworthy is how Brex helps you optimize your cash flow — a feature that feels less like traditional corporate banking and more like modern financial technology at work.

Integrated spend management

Brex’s integrated spend management software solution represents a significant departure from the fragmented tools that have long frustrated finance departments. By unifying corporate cards, expense tracking, and treasury management, Brex has effectively eliminated the need for the multiple dashboards that typically clutter a financial controller's screen. The automation capabilities are particularly impressive in practice, handling expense categorization with a precision that notably reduces the administrative burden on finance teams.

Security and fraud prevention

Security takes center stage in Brex's architecture. The AI-driven security infrastructure continuously monitors transactions with an algorithmic vigilance that goes beyond traditional fraud detection. While Mastercard ID Theft Protection™ provides a familiar safety net, it's the granular control over spending — down to specific merchants and transaction types — that gives financial officers the kind of oversight previously available only in high-end enterprise systems.

Enhanced FDIC insurance

In a notable upgrade from conventional practices, Brex's network of over 20 program banks provides FDIC insurance coverage up to $6 million — far exceeding the standard $250,000 limit that has long been the industry norm. This broad protection, particularly valuable for venture-backed companies and those maintaining substantial cash reserves, demonstrates where traditional corporate banks fall short.

24/7 support

While most fintech platforms tout their user-friendly interfaces, Brex backs its sophisticated platform with something increasingly rare in the digital age: human support available around the clock. The multi-channel approach — spanning live chat, phone, email, and WhatsApp — gives you access to account support whenever and wherever you need it.

Global, multi-currency payments

Brex stands head and shoulders above the competition when it comes to facilitating international payment and banking transactions. Send wires from your Brex business banking account in over 40 currencies, and easily issue local currency cards while maintaining centralized control to reduce FX markups.

AI-powered automation

The integration of artificial intelligence into financial workflows is at the heart of Brex's vision for modern corporate finance. With Brex, you can automate spend controls, approval flows, and accounts payable, streamlining operations while increasing compliance. Its intelligent approval routing ensures a perfect balance between efficiency and oversight. Additionally, Brex automatically captures and categorizes expenses from thousands of merchants, reducing administrative overhead and freeing up your team for more strategic tasks.

Direct integrations

Earning NetSuite's 2023 Partner of the Year recognition speaks to Brex's commitment to seamless system integration. Brex integrates with thousands of accounting, ERP, and HRIS solutions, connecting your financial systems for a comprehensive view of your financial data and helping you close the books faster. Ultimately, the Brex platform is designed not just for standalone operation but for genuine ecosystem participation.

In-app travel booking and management

Brex’s travel management booking solution strikes a balance between consumer-grade usability and corporate control. Rather than forcing employees to navigate between separate systems for booking travel and managing expenses, Brex has created an integrated experience that maintains compliance without sacrificing convenience. This approach to travel management demonstrates a deeper understanding of how corporate tools can benefit employees and finance teams alike.

“We first saw Brex as a great corporate card program and banking alternative for startups. Now, we couldnʼt imagine life without Brexʼs total spend management and corporate travel solution.”— Sagar Patel, Director of Finance, InnoCaption

Pricing

You can get started with the Essentials plan for free, offered at zero cost and designed to give growing businesses immediate access to powerful financial tools, including a Brex business account that includes no monthly service fees or wire transfer fees. This comprehensive package includes everything you need to manage finances effectively: business banking, global corporate cards, bill pay capabilities, and core expense management features. Businesses also gain immediate access to high-yield treasury services, helping idle cash generate returns from day one.

At $12 per user monthly, Premium unlocks enhanced capabilities that scale with growing business needs. Organizations gain advanced control of financial operations through customizable expense policies, seamless travel booking integration, and comprehensive reporting tools. Premium users leverage expanded automation features and enhanced integration options, streamlining financial workflows and improving team productivity.

For larger organizations with complex requirements, the Enterprise plan delivers tailored solutions that match specific business needs. This comprehensive tier includes sophisticated multi-entity management, advanced roles and permissions systems, and dedicated account management support. Enterprise pricing flexes with organizational scale and specific requirements, ensuring exact feature alignment with business operations.

Who Brex works best for

The platform shines brightest in the hands of high-growth startups and scaling companies seeking to modernize their financial operations. Technology firms and venture-backed companies will find particular value in the integrated approach to corporate cards, expense management, and banking services. The sophisticated Brex-NetSuite integration and accounting automation software features make it especially compelling for organizations managing complex financial workflows. Companies eyeing international expansion benefit from built-in multi-currency support and scalable infrastructure that grows alongside their global ambitions.

Who should look elsewhere

Not every business needs the comprehensive financial toolkit that Brex provides. Small businesses operating with basic revenue models or without venture backing may find themselves paying for capabilities they rarely use. Organizations seeking straightforward expense tracking or simple banking services might discover the platform's advanced features create unnecessary complexity. Traditional businesses that prioritize face-to-face banking relationships and branch access will likely find better alignment with conventional banking solutions.

2. Relay

Relay is a digital banking platform that has carved out a focused niche serving small businesses through multi-account banking features. The platform offers up to 20 separate checking accounts under a single dashboard, enabling small business owners to segment and track different aspects of their cash flow. While traditional banks typically provide one business checking account, Relay's system allows firms to create dedicated accounts for various purposes — tax payments, payroll, or project-specific budgets.

Key features

• Create up to 20 separate checking accounts under one dashboard
• Issue up to 50 physical or virtual debit cards per account
• Set up different accounts for taxes, payroll, and project budgets
• Integrations with QuickBooks, Xero, and Gusto

Pricing

Relay's pricing structure offers two distinct tiers. The first is a no-cost standard plan that includes core banking features and multiple checking accounts. For businesses requiring more advanced tools, Relay Pro is available at $30 per business monthly. It adds capabilities like same-day ACH processing, free wire transfers, and automated accounts payable features. This tiered approach allows small businesses to start with basic features and upgrade as their banking needs become more complex.

Who Relay works best for

Relay works most effectively for small businesses managing separate budgets or projects that require distinct bank accounts. The platform fits companies that need to automate bill payments while giving different team members specific banking permissions. Small businesses already using accounting software like QuickBooks or Xero, particularly those tracking expenses across departments, align well with Relay's feature set.

Who should look elsewhere

Small businesses should consider alternatives to Relay if they prioritize earning interest on their accounts or need business loans. The platform lacks the high-yield accounts and lending options found at traditional banks. Similarly, businesses requiring regular branch visits or handling significant international transactions might find Relay too limited. Solo business owners or companies with straightforward banking needs — one account, few monthly transactions — may find Relay's multi-account system more complex than necessary.

3. Novo

Among digital banking platforms, Novo positions itself as a tool for the smallest segment of business owners — freelancers, entrepreneurs, and small digital businesses. The platform takes a notably different approach from traditional business checking accounts by centering its offering around integrations with ecommerce and business software. Where traditional banks emphasize branch services and lending products, Novo focuses instead on connecting with the digital tools that small online businesses use daily.

Key features

• Free business checking with no minimum balance requirements
• Cash flow insights and budgeting tools
• Real-time transaction notifications and automatic expense categorization
• Refunds on all ATM fees worldwide

Pricing

Novo takes an uncommon approach in the digital banking space by offering just one account tier — free. The platform provides business checking without monthly fees or minimum balance requirements, including features that often command premium prices at other banks: software integrations, basic invoicing tools, and ATM fee refunds. This simplified pricing model appears designed to appeal to small businesses and freelancers who prefer straightforward banking without tiered complications.

Who Novo works best for

Small businesses form Novo's core customer base — particularly freelancers, ecommerce sellers, and entrepreneurs who run their operations through online tools. The platform fits naturally with businesses already using software like Shopify, QuickBooks, or Stripe, as its primary strength lies in connecting these services to a business checking account. Most users gravitating to Novo appear to be solo operators or very small teams seeking to automate their banking connections rather than manage complex financial operations.

Who should not consider Novo

Businesses beyond the startup stage will likely find Novo too basic for their needs. The platform lacks features standard at traditional banks: multiple checking accounts, wire transfer services, or substantial credit products. Growing companies that need to manage team spending or handle sophisticated cash management should consider other options. Additionally, businesses conducting significant international transactions or requiring branch services won't find what they need in Novo's digital-only approach.

4. Silicon Valley Bank

Silicon Valley Bank operates today as part of First Citizens Bank, following a significant transition in 2023 that reshaped its position in the startup banking landscape. The bank, which began in 1983 and grew to manage over $200 billion in assets, built its reputation serving technology companies and startups before its collapse and subsequent acquisition. While now under new ownership, SVB maintains its traditional focus on banking services for technology firms and emerging companies.

Key features

• Free business checking accounts with online management
• Physical and virtual business cards
• Digital banking platform with remote deposit
• Traditional commercial banking services

Pricing

SVB's pricing reflects its traditional banking heritage, with costs varying based on client relationships and account activity. The fee structure includes standard banking charges: $1,000 for bill pay setup, $10 for incoming wires, $12 for domestic outgoing wires, and $25 for international transfers. Following its 2023 acquisition by First Citizens Bank, SVB maintains these core banking fees, though the integration process may bring changes to its pricing structure.

Who SVB works best for

SVB is well-suited for venture-backed startups and technology companies seeking a traditional banking relationship with an institution that understands the tech ecosystem. Companies that value established banking services and need access to conventional commercial banking products will appreciate SVB's offerings.

Who should look elsewhere

Fast-growing startups and small businesses should look to other options if they need quick digital account setup or modern banking tools. The bank's traditional approach — with relationship-based pricing and standard commercial banking processes — may not suit companies seeking straightforward, self-service banking features. Non-tech businesses and startups might find better alignment with digital-first banks that offer simpler account structures and faster onboarding.

5. Grasshopper Bank

Grasshopper Bank operates in the digital banking space, targeting entrepreneurs and small businesses with a streamlined approach to business checking. The platform centers its offering around interest-bearing accounts, with rates ranging from 1.51% to 2.25% APY — higher than typical business checking accounts. Where traditional banks bundle multiple services, Grasshopper takes a simpler approach by focusing on core digital banking features without additional financial products.

Key features

• Interest-bearing checking accounts (1.51%-2.25% APY)
• Debit cards with cash-back rewards program
• FDIC insurance on deposits
• Low barrier to entry with $100 minimum deposit

Pricing

Grasshopper Bank requires a $100 initial deposit to open an account, with no monthly fees or minimum balance requirements thereafter. The bank's single-tier pricing structure includes basic digital banking services and interest-bearing checking accounts.

Who should consider Grasshopper

Small businesses and entrepreneurs choose Grasshopper when they want to earn interest on their checking accounts while keeping banking simple. The bank fits companies that maintain higher balances in checking and need only basic digital banking features.

Who should not consider Grasshopper

Growing companies should consider alternatives if they need more than basic checking — Grasshopper lacks common business banking tools like credit cards, loans, or spend management features. The bank's limited product line doesn't serve businesses requiring branch services, treasury management, or extensive software integrations. Companies managing complex operations or needing multiple financial products will find Grasshopper's focused approach too restrictive.

6. Mercury

Mercury operates as a digital banking platform specifically designed for startups and technology companies, positioning itself between traditional banks and newer fintech solutions. The platform combines standard banking features with tools built for modern businesses, including APIs for developers and detailed financial analytics. Unlike conventional banks, Mercury focuses exclusively on digital delivery while maintaining partnerships with FDIC-insured banks for its banking services.

Key features

• High-yield accounts through Mercury Treasury
• API access for banking automation
• Team management and permissions
• International wire transfers and USD accounts for foreign companies

Pricing

Mercury structures its offering around a free base tier that includes essential banking features and API access. The platform's Tea Room tier, available to companies maintaining balances over $500,000, adds premium features including higher yields on deposits and priority support. All accounts include free domestic and international wire transfers, distinguishing Mercury from traditional banks that typically charge for these services.

Who Mercury works best for

Mercury is a solid choice for small, local businesses in the US that need a simple, digital-first banking solution without the bells and whistles of a traditional financial institution. Technology companies and startups choose Mercury when they need modern banking tools with developer-friendly features. Further, companies that don’t mind managing expenses manually or using separate tools for treasury management, credit, and global payments might find Mercury to be an accessible and easy-to-use option.

Who should look elsewhere

Businesses looking to scale, optimize financial processes, or expand internationally may need a more robust alternative to Mercury. Its lack of interest-bearing accounts (unless you maintain at least $500,000) means that idle cash won’t work for you, making liquidity management more challenging. Mercury’s 1% exchange fee and limited multi-currency support can also lead to unnecessary global costs. Additionally, its reliance on account balance to determine credit limits can be restrictive compared to competitors that consider revenue and spending patterns. If you need seamless treasury management, higher credit limits, stronger global capabilities, or responsive customer support, consider looking at some Mercury alternatives.

7. Rho

Rho is a fintech platform that mainly serves small business owners. The company offers an integrated suite of banking solutions, business cards, and expense tracking tools. Though Rho includes basic cash flow features, businesses experiencing rapid growth or larger operations may find its functionality insufficient.

Key features

• High-yield checking accounts with competitive APY
• Up to $250K in FDIC insurance for regular accounts
• Basic expense management
• Physical and virtual cards

Pricing

Rho structures its pricing around a base of free banking services, while charging for its treasury management features. The treasury fees follow a sliding scale: 0.60% annually for the first $2 million in assets. The platform charges additional fees for specific services — 1% for foreign currency exchanges across 32 currencies and a 3% late fee on overdue balances — with treasury management fees calculated and deducted monthly from client accounts.

Who Rho works best for

Rho delivers the most value to small business owners seeking a streamlined approach to banking and expense management. The platform shines for companies looking to consolidate their basic banking services and financial tools in one place, especially those with straightforward expense tracking needs. Small teams that require simple expense management controls will find Rho's features sufficient for their day-to-day operations.

Who should look elsewhere

Rho is not designed for fast-growing startups or enterprise companies that need a more robust startup banking solution. Enterprise organizations with complex operations will find Rho's features too basic, as will rapidly scaling businesses that require sophisticated treasury management and spending controls. The platform isn't well-suited for companies needing advanced international banking capabilities, deep ERP integrations, or extensive approval hierarchies. Additionally, businesses with high transaction volumes or specialized treasury needs would likely outgrow Rho's capabilities quickly, making it a poor fit for both scaling startups and established corporations.

8. Chase Business Banking

Chase Business Banking stands as the commercial arm of JPMorgan Chase, operating as one of the largest traditional banks in the United States. The bank combines extensive branch networks with digital banking tools, setting it apart from newer online-only platforms. Unlike digital-first competitors, Chase maintains its core identity as a conventional bank, offering face-to-face services alongside online features.

Key features

• Traditional fraud protection and security measures
• Mobile and online banking platform
• Branch and ATM network access
• Business credit card options

Pricing

Chase sets a $15 monthly fee for its Business Complete Banking account, which it waives when customers maintain $2,000 in balances, deposits, or Chase Ink Business card spending. The bank includes unlimited electronic transactions but charges $0.40 for each in-person deposit or paper check after the first 20 monthly transactions.

Who Chase works best for

Traditional businesses that need branch services and extensive ATM networks typically choose Chase for their banking. The bank fits companies looking for a full range of financial services — from basic checking to loans and credit cards — in one institution.

Who should look elsewhere

Digital-focused businesses should consider alternatives to Chase if they want to avoid traditional banking fees and balance requirements. The bank's conventional approach — with transaction limits and monthly maintenance fees — may not suit companies that operate primarily online or rarely use branch services. Small businesses seeking high-yield accounts or modern banking tools will find Chase's traditional model costly compared to digital-first alternatives.

Pangea connects organizations with marketing and design professionals. In a tough venture capital environment, co-founder Adam Alpert shifted focus to lean profitability and zero-based accounting methodologies to make every dollar count. But their banking partner wasn’t making that easy.

Not only was JP Morgan Chase charging a steep $300 monthly fee, but its lack of automatic allocation tools led to overdraft fees and cash flow issues.

“I wanted to keep a certain amount in our checking account every week for payroll or expenses or whatever. Everything else should be either in a sweep account or a treasury. But our bank didn’t have that,” Adam explained. “I could only set up recurring fixed-amount transfers, but sometimes things would get out of whack, and our accounts would get overdrawn. It was a nightmare.”

The rigidity of JP Morgan Chase’s system made cash flow management a constant headache. Adam knew Pangea needed a banking solution that worked for a fast-moving, modern startup — one that was flexible, automated, and didn’t penalize them for needing liquidity.

By consolidating checking and treasury services into one Brex business account, Pangea finally had a system that worked for them — not against them. Unlike other banking products that required a $500,000 minimum balance to access yield accounts, Brex offered competitive returns without requiring a minimum.

“Brex’s banking product is very competitive on its own, but not requiring a minimum balance to earn yield was incredibly appealing. So we brought all of our checking and money market accounts over to Brex. It’s a lot easier for me to keep everything in one place.”

Pangea also benefited from Brex’s consolidated financial view. “Bringing all our money to Brex was super simple, and it’s helped us identify other things we were spending on,” Adam said. “Since moving to Brex, we’ve identified $6,000 in monthly spend that we were able to unwind.”

Instead of constantly troubleshooting cash flow issues, Adam could focus on what mattered most — growing the business. “The entire Brex platform brings us so much value, and it’s easier to manage the day-to-day,” Adam said. “Brex helps me stay in founder mode, so we can continue to build without constantly worrying about our finances.”

For Pangea, switching from JP Morgan Chase to Brex wasn’t just a banking decision — it was a business transformation.

Among startup banking platforms, Brex stands out by addressing core startup challenges through its integrated approach to financial management. The platform provides a full-featured checking account through Column N.A., Member FDIC, as well as expanded treasury and vault services to help startups make every dollar count. Brex provides the high-yield accounts startups need for their cash reserves and financial protection that scaling startups need — FDIC insurance coverage of up to $6 million through its network of partner banks. Additionally, the AI-powered platform automates essential but routine tasks — from GL coding and categorization to expense reconciliation — so founders can focus less on finance tedium and more on building their businesses.

Where other platforms focus on either banking or expense management, Brex combines treasury management, corporate cards, and spend controls in one place. This integration proves particularly valuable for venture-backed companies managing rapid growth and increasing financial complexity. The platform supports transactions across 40+ currencies through both physical and virtual corporate cards for global-minded organizations.

For startups concerned about pricing, Brex's model starts with a no-cost Essentials plan that includes core banking features, while the Premium tier ($12 per user monthly) unlocks advanced automation and customization options. This pricing structure allows companies to scale their financial tools alongside their growth without significant upfront costs.

Adam Kaczmarek, co-founder and CTO of Loops, says: “Brex gives us a simple place to put all of our money. We know that we're getting decent yield as well as easy access to the funds that we need to run payroll and manage the day-to-day business.”

Richard Mensah, founder and CEO at Salley, loves the holistic nature of the Brex platform: “Brex is our comprehensive solution for everything finance-related. We use it for credit cards and to manage our banking. I do believe that Brex is one of the only solutions out there focusing on solving the problem in its entirety.”

Business banking has come a long way, offering more than just basic checking accounts. Today’s platforms help businesses manage their finances more seamlessly, each catering to different needs — like Relay’s multi-account setup for small businesses or Chase’s familiar and conventional banking services. But for startups, where speed and operational efficiency matter most, some platforms stand out from the rest.

Brex offers a comprehensive approach to startup banking. By combining high-yield accounts, corporate cards, automated bill pay, and sophisticated spend management with AI-powered tools that streamline financial operations, Brex is the financial stack that scales with you.

Sahil Hasan, CEO and co-founder at payouts company Dots, says it’d be really hard to move away from Brex: “The yield we earn from Brex treasury has materially extended our runway. As a startup trying to scale, that was such a value add. Also, the Brex team was very responsive to our questions. It’s nice to know we have that level of attention from our banking partner. Several large banks have pitched us to move our business over, but we love Brex because we get amazing service, high yields, and no hidden fees.”

Start optimizing your startup's financial operations with Brex. Open your account today and join thousands of growing companies already benefiting from integrated banking, accounts payable automation, and powerful spend management tools. Sign up now and experience why Brex has become the go-to banking solution for modern startups.

* Brex is a financial technology company, not a bank. Checking accounts and banking services provided by Column N.A., Member FDIC.