The 5 best online banks and business banking accounts in February 2025

With founders constantly searching for the best business accounts, online banking has emerged as a cornerstone of modern financial management. The transition from traditional banking to digital solutions reflects a broader transformation in how businesses handle their finances, driven by the need for greater efficiency, accessibility, and integration with other digital tools.

Enhanced operational efficiency through automation

The automation capabilities of online banking platforms have transformed routine financial tasks that traditionally consumed significant staff time and resources. Tasks such as transaction categorization, account reconciliation, and payroll processing can now be automated through digital banking platforms, though businesses should carefully evaluate their specific automation needs and ensure their chosen platform offers the necessary features to make operational efficiency a reality.

Cost reduction in banking operations

The shift to online banking platforms presents clear cost advantages beyond basic transaction fees. The elimination of paper-based processes, reduced wire transfer fees through ACH payments, and lower maintenance fees compared to traditional business accounts contribute to overall cost savings. While businesses should factor in potential technology investment and training costs during the transition period, the long-term financial benefits often justify the initial investment.

Real-time financial visibility and control

Online banking platforms provide immediate access to financial data across all business operations, enabling swift decision-making and proactive financial management. This real-time visibility allows businesses to monitor cash flow, track pending transactions, and analyze spending patterns instantaneously, though proper security protocols must be established to protect this increased access to sensitive financial information.

Seamless integration with business software ecosystem

Modern online banking solutions offer integration capabilities with essential business software, including accounting software, expense management tools, and enterprise resource planning platforms. This interoperability eliminates data silos and reduces manual data entry requirements, creating a more efficient financial management system. While the initial setup of these integrations may require technical expertise, the resulting efficiency makes it a valuable feature for businesses seeking to streamline their financial processes.

What to look for in a business bank account comes down to understanding your company's specific needs and growth trajectory. Not all online banks offer the same features, and making the right choice depends heavily on your business's specific needs and growth trajectory. Understanding the key offerings to evaluate can help you choose a banking partner that will support your business both now and as it evolves.

Account types and structures

The way your business banking accounts are structured can profoundly impact your daily operations and financial organization. Look for an online bank that offers a diverse suite of accounts that can grow with your business — from basic checking for daily transactions to specialized accounts for payroll, taxes, or international dealings. Consider whether you need the flexibility to create sub-accounts for different departments or projects, or if your business requires multi-currency support. Just remember that more sophisticated account structures often come with their own sets of requirements and fees, so choose complexity only where it serves a clear business purpose.

Fees and minimum balance requirements

Understanding the true cost of your banking relationship means looking beyond the advertised monthly fees. Consider how your business actually operates: Do you process numerous transactions daily? Make frequent wire transfers? Need regular ATM access? The most attractive fee structure is one that aligns with your typical banking patterns. Watch for additional hidden business banking fees and also for minimum balance requirements that might tie up too much of your operating capital. You’ll want to understand how fee waivers work — some banks offer them based on balance minimums or transaction volumes, but these thresholds should be realistically achievable for your business.

Interest rates and APYs

While earning interest shouldn't be the primary driver of your banking choice, it's worth considering how your operational funds could work harder for your business. Smart cash management means keeping enough funds liquid for operations while maximizing returns on reserves. Pay attention to how interest is structured — are rates tiered based on balance? Are there transaction limits that could negate your earnings? The key is finding a balance between competitive rates and account features that support your core business needs.

Technology and integration capabilities

Your banking platform should work seamlessly with your existing business tools, not create additional complexity. Evaluate how well a bank’s technology integrates with your accounting software, payment systems, and other financial tools. Consider both your current and future needs — as your business grows, will the platform scale with you? The goal is to find a solution that reduces manual work and provides clear visibility into your finances, without requiring a complete overhaul of your existing processes.

Customer support and security

Even the most sophisticated online banking platform is as good as its support system and security infrastructure. Consider when and how you'll need assistance — does the bank offer support during business hours and through your preferred communication channels? Security features should go beyond basic password protection to include robust authentication methods and clear protocols for handling potential issues. The best support structures combine responsive service with proactive security measures, ensuring you can access help quickly while keeping your financial data protected.

1. Brex

As companies seek more efficient banking solutions, Brex has emerged as a noted player by integrating corporate treasury management, spend controls, and automation into a unified digital banking platform. The platform aims to streamline traditional banking processes while offering tools typically needed by growing companies, such as high-yield accounts, corporate cards, expense tracking, and AI-powered international payments.

What sets Brex apart in the financial technology landscape is its holistic approach to business banking. Through a partnership with Column NA (Member FDIC), the platform provides checking accounts, treasury accounts, and vault accounts in a single interface. This consolidation allows businesses to view and manage their entire financial operations from one platform and get extended FDIC coverage, while automated features handle routine tasks like transfers and bill payments. The integrated structure enables companies to scale their financial operations without the traditional complexity of managing multiple banking relationships.

Key features

Industry-leading yield

Brex offers competitive yields without traditional banking constraints. Businesses can access their funds with 100% liquidity and no minimum balance requirements while earning returns on their deposits. This ability to improve business cash flow reflects a modern approach to corporate banking, integrating traditional financial services with current technology.

Integrated spend management

Brex’s integrated spend management software solution addresses a common pain point in corporate finance by unifying traditionally fragmented tools. Finance departments can manage corporate cards, track expenses, and handle treasury operations through a single dashboard, eliminating the need to navigate multiple systems. The automated expense categorization and tracking features streamline workflow for finance teams, reducing time spent on manual administrative tasks.

Security and fraud prevention

Security takes center stage in Brex's architecture. The AI-driven security infrastructure continuously monitors transactions, providing protection that goes beyond traditional fraud detection. While Mastercard ID Theft Protection™ offers a familiar safety net, it's the detailed control over spending — down to specific merchants and transaction types — that gives financial leaders the comprehensive oversight typically found in enterprise solutions.

Enhanced FDIC insurance

Through a network of over 20 program banks, Brex provides FDIC insurance coverage up to $6 million as part of its Vault services, significantly exceeding the standard $250,000 limit that has long been the industry norm. This comprehensive coverage offers valuable security for venture-backed companies and businesses maintaining substantial cash reserves.

24/7 support

While most fintech platforms tout their user-friendly interfaces, Brex complements its digital banking services with round-the-clock human support, available through multiple channels. Account assistance is accessible through live chat, phone, email, and WhatsApp, providing continuous support access across different communication methods.

Global, multi-currency payments

Brex offers extensive global payment and banking capabilities across multiple currencies. The service facilitates wire transfers in over 40 currencies and supports local currency card issuance, while maintaining centralized control over foreign exchange operations.

AI-powered automation

Artificial intelligence serves as the foundation for Brex's financial workflows, powering a range of automated features for modern corporate finance. With Brex you can streamline essential processes by automating spend controls, approval flows, accounting, and accounts payable operations, while maintaining necessary compliance standards. Through intelligent approval routing, Brex manages the balance between quick processing and proper oversight. Brex can also handle expense management, automatically capturing and categorizing transactions from thousands of merchants to reduce the administrative burden on finance teams and accelerate reconciliation.

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, enabling comprehensive financial data visibility and streamlined month-end closing processes. This integration-first approach positions Brex as part of a broader financial technology ecosystem rather than a standalone solution.

In-app travel booking and management

Brex's travel and expense management software solution combines intuitive usability with corporate oversight capabilities. Brex integrates travel booking and expense management into a single experience, maintaining compliance requirements while simplifying the process for users. This unified approach to travel management addresses the needs of both employees handling travel arrangements and finance teams overseeing expenses.

“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

Brex offers three service tiers to accommodate different business needs. The Essentials plan is available at no cost, providing businesses with core financial tools including a Brex business account with no monthly service or wire transfer fees. This plan includes business banking, global corporate cards, bill pay features, and basic expense management, along with access to high-yield treasury services.

The Premium plan costs $12 per user monthly, offering expanded capabilities for growing businesses. Features include customizable expense policies, travel booking integration, and comprehensive reporting tools. Additional automation features and integration options help streamline financial workflows.

For larger organizations, Brex's Enterprise plan provides tailored solutions with multi-entity management capabilities, advanced roles and permissions, and dedicated account management support. Enterprise pricing is customized based on organizational size and specific requirements.

Who Brex works best for

Brex's features align particularly well with high-growth startups and scaling companies looking to modernize their financial operations. Technology firms and venture-backed companies can leverage the integrated corporate cards, expense management, and banking services. The Brex-NetSuite integration and accounting automation benefits serve organizations managing complex financial workflows, while the multi-currency support and scalable infrastructure accommodate companies expanding internationally.

Who should look elsewhere

Brex's comprehensive financial toolkit may exceed the needs of some businesses. Small businesses with straightforward revenue models or those without venture backing might find many features unused. Organizations requiring only basic expense tracking or banking services may prefer simpler solutions. Businesses prioritizing in-person banking relationships and branch access typically align better with traditional banking services.

2. Relay

Relay focuses on small business banking through its multi-account management capabilities. The platform enables businesses to operate up to 20 checking accounts from a single dashboard, allowing for detailed cash flow segmentation and tracking. Business owners can create separate accounts for specific purposes such as tax payments, payroll, and project budgets, providing more granular control over financial operations.

Key features

• Open as many as 20 individual checking accounts, all under one dashboard
• Distribute up to 50 physical or virtual debit cards per account
• Set up different accounts for taxes, payroll, or specific project budgets
• Integrate directly with QuickBooks, Xero, and Gusto

Pricing

Relay offers two pricing tiers for its banking services. The standard plan is available at no cost and includes core banking features and multiple checking accounts. The Pro plan, at $30 per business monthly, provides additional features including same-day ACH processing, wire transfers without fees, and automated accounts payable. Businesses can begin with the standard plan and transition to Pro as their needs expand.

Who Relay works best for

Relay serves small businesses that manage multiple budgets or projects requiring separate bank accounts. The platform suits companies needing automated bill payments combined with customizable banking permissions for team members. Small businesses using QuickBooks or Xero for accounting, especially those tracking departmental expenses, benefit from Relay's integration capabilities.

Who should look elsewhere

Relay may not suit small businesses prioritizing interest-bearing accounts or requiring business loans, as the platform focuses on checking accounts rather than high-yield options or lending services. Businesses needing regular branch access or frequent international transactions may require additional banking services. For solo business owners or companies with simple banking needs — such as single account management and minimal monthly transactions — Relay's multi-account structure might exceed their requirements.

3. Grasshopper Bank

Grasshopper Bank provides digital banking services focused on entrepreneurs and small businesses through its streamlined business checking offerings. The bank emphasizes interest-bearing accounts as its core feature, offering APY rates between 1.51% and 2.25%. Grasshopper takes a focused approach to digital banking, concentrating on essential checking account features rather than a broader range of financial products.

Key features

• Interest-bearing checking accounts offering APYs from 1.51% to 2.25%
• Debit cards that come with cash-back incentives
• FDIC insurance on deposited funds
• $100 minimum deposit needed to open an account

Pricing

Grasshopper Bank requires a $100 initial deposit requirement for account opening, with no subsequent monthly fees or minimum balance requirements. The bank offers a straightforward pricing model that includes interest-bearing checking accounts and digital banking services.

Who should consider Grasshopper

Grasshopper Bank serves small businesses and entrepreneurs seeking interest-bearing checking accounts with straightforward digital banking features. The bank aligns with companies maintaining higher checking balances while requiring only essential banking services.

Who should not consider Grasshopper

Grasshopper Bank may not suit growing companies needing services beyond basic checking, as the bank does not offer credit cards, loans, or spend management features. Businesses requiring branch services, treasury management, or extensive software integrations might need additional banking solutions. Companies with complex operations may require more comprehensive banking services.

4. Silicon Valley Bank

Silicon Valley Bank now operates as a division of First Citizens Bank after its acquisition in 2023. The bank, established in 1983, grew to manage over $200 billion in assets by serving technology companies and startups before its transition. Under First Citizens Bank, SVB continues its focus on providing banking services to technology firms and emerging companies.

Key features

• Free online business checking account
• Access to both physical and virtual business cards
• A digital banking platform equipped with remote deposit functionality
• Established commercial banking services

Pricing

SVB structures its pricing around client relationships and account activity. Current fees include a $1,000 bill pay setup charge, $10 for incoming wires, $12 for domestic outgoing wires, and $25 for international transfers. While these core banking fees have continued following First Citizens Bank's 2023 acquisition, the ongoing integration may result in future pricing adjustments.

Who SVB works best for

SVB serves venture-backed startups and technology companies seeking traditional banking services from an institution familiar with the tech sector. The bank aligns with companies requiring established commercial banking products within the technology ecosystem.

Who should look elsewhere

High-growth startups and small enterprises in need of quick digital account setup or cutting-edge banking tools may find other providers more appealing. The bank’s classic approach — anchored by relationship-based pricing and standard commercial processes — can feel cumbersome for companies seeking simpler, self-service features. Non-tech ventures and startups might be better served by digital-first banks offering simpler account structures and faster onboarding.

5. Chase Business Banking

Chase Business Banking, JPMorgan Chase's commercial division, ranks among the country’s largest and most venerable financial institutions. The bank’s vast brick-and-mortar presence, paired with an evolving suite of online tools, sets it apart from other traditional banks. Rather than pivoting exclusively to just digital banking, Chase stays true to its conventional roots by blending in-person services with modern banking technology.

Key features

• Traditional fraud protection and security measures
• An intuitive mobile and online platform
• Nationwide branch and ATM accessibility
• Multiple business credit card options

Pricing

Chase imposes a $15 monthly fee on its Business Complete Banking account, though that charge is waived for customers who maintain at least $2,000 in combined balances, deposits, or Chase Ink Business card spending. While the account offers unlimited digital transactions, the bank tacks on a $0.40 fee for each in-person deposit or paper check beyond the first 20 monthly transactions.

Who Chase works best for

Many traditional businesses that prioritize in-person support and a broad ATM network gravitate toward Chase for their banking needs. It’s an especially appealing choice for firms seeking a comprehensive suite of financial offerings — ranging from basic checking to loans and credit cards — all under one institutional roof.

Who should look elsewhere

Entrepreneurs operating in a digital-first world and looking to avoid traditional fees, minimum balances, and potential hidden charges may find Chase’s conventional approach — complete with transaction limits and monthly maintenance costs — overly restrictive. Its emphasis on in-branch services can be unnecessary for businesses that rarely need face-to-face interactions. Small businesses seeking high-yield accounts or cutting-edge financial tools may discover that Chase’s model proves pricier than today’s online-only alternatives.

Online business banking leverages multiple layers of digital security that have evolved significantly beyond traditional banking's physical safeguards. Modern digital platforms combine end-to-end encryption, biometric authentication, and AI-powered fraud detection systems that analyze transaction patterns in real-time — capabilities that complement and often enhance the physical security measures of traditional banking. While high-profile data breaches regularly make headlines, leading financial institutions have responded by continuously strengthening their cybersecurity infrastructure and implementing increasingly sophisticated measures to protect digital transactions and sensitive business data.

The human element, however, remains critical in both banking environments. Traditional banks rely heavily on staff training and established verification procedures, while online platforms must contend with sophisticated social engineering attacks and phishing schemes targeting business owners. To address these vulnerabilities, leading online banks are implementing advanced security features like contextual authentication, which analyzes user behavior patterns, device fingerprinting, and location data to verify transactions. They're also providing enhanced security training and automated alerts that help business owners spot potential threats before they materialize into actual breaches.

Pangea, a platform that connects companies with marketing and design talent, found itself at a crossroads when co-founder Adam Alpert encountered a volatile venture capital climate. Determined to protect the startup’s runway, Alpert pivoted to a lean profitability model and implemented zero-based accounting — where every dollar is scrutinized. Yet their existing banking partner was making that mission unusually complicated.

The friction began with J.P. Morgan Chase’s monthly fee of $300 and only worsened due to a lack of automated allocation features, ultimately resulting in overdraft penalties and cash-flow headaches.

“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.”

Tethered to the rigidity of a traditional banking solution, Alpert realized Pangea needed a more modern solution — one that automated cash management and supported the liquidity demands of a fast-paced, high-growth startup.

By consolidating checking and treasury services under a single Brex business account, Pangea discovered a platform aligned with its needs. Unlike other institutions that impose a $500,000 minimum balance requirement 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.”

Free from juggling cash-flow pitfalls and steep fees, Alpert can now focus on expanding Pangea’s core business. “Brex delivers so much value and makes day-to-day management much simpler,” he said. “It’s letting me stay in ‘founder mode,’ which is crucial as we continue building — without constantly worrying about our finances.”

For Pangea, leaving J.P. Morgan Chase for Brex was more than a change in bank accounts. It was a strategic shift that redefined how the company manages its resources, paving the way for sustainable growth in a challenging funding environment.

Among the many banking platforms catering to early-stage companies, Brex distinguishes itself by tackling the fundamental challenges of startup finance through a unified suite of tools. By offering a full-fledged checking account under Column N.A., Member FDIC, alongside enhanced treasury and vault services, Brex ensures every dollar is optimized. High-yield deposit accounts safeguard critical reserves, backed by FDIC insurance of up to $6 million through a network of partner banks. Meanwhile, an AI-driven engine automates routine tasks — spanning general ledger coding, expense categorization, and expense reconciliation — freeing founders from mundane finance chores so they can focus on building their businesses.

Where rival services often concentrate on either banking or expense management, Brex integrates treasury management, corporate cards, and spend controls into a single platform. This holistic approach is particularly beneficial for venture-backed startups navigating rapid growth and increasingly complex financial needs. With the ability to handle transactions in more than 40 currencies — via both physical and virtual corporate cards — Brex also provides robust support for globally minded organizations.

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.”

On pricing, Brex adopts a tiered model that starts with the no-cost Essentials plan, granting access to core banking features. For $12 per user monthly, the Premium tier unlocks advanced automation and customizable workflows. By allowing companies to expand their financial toolset as they grow, Brex’s model spares startups the burden of substantial upfront expenses.

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.”

The digital transformation of business banking represents more than a technological upgrade - it marks a fundamental shift in how companies manage their finances. As businesses increasingly demand solutions that combine efficiency with sophistication, the distinction between traditional and digital banking continues to blur. The most successful platforms have found ways to merge innovative technology with practical business needs, offering tools that streamline operations while maintaining the security and reliability that businesses require.

Each of the five banking solutions reviewed takes a distinct approach to serving modern businesses. While Chase maintains its traditional infrastructure while adding digital capabilities, newer entrants like Relay and Grasshopper focus on specific niches within the digital banking space. Silicon Valley Bank bridges the gap between conventional banking and the tech sector, but no single solution proves ideal for every business. The optimal choice depends on factors ranging from transaction volumes and integration requirements to growth trajectories and industry-specific needs.

If you need a business bank account to offer more than checking and savings options, Brex stands out by offering a comprehensive suite of financial tools built specifically for modern businesses. Its platform unifies treasury management, corporate cards, and spend management into a single interface, eliminating the need for multiple banking relationships. The AI-powered system automates routine financial tasks while providing enhanced security through continuous transaction monitoring. With FDIC insurance coverage of up to $6 million through its network of program banks and integration capabilities with thousands of accounting and ERP solutions, Brex has created an ecosystem that grows alongside its clients.

For businesses ready to embrace the future of banking, opening a Brex account represents a clear path forward. With no minimum balance requirements and immediate access to premium features like competitive yields and AI-powered automation, Brex eliminates traditional banking barriers while delivering superior functionality. Companies like Pangea have already discovered the platform's transformative potential, saving $6,000 in monthly expenses and streamlining their financial operations. Whether you're a startup seeking efficient financial tools or an established company looking to modernize operations, the time to switch to Brex is now - your business's financial future may depend on it. Open an account today.

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