Best Online Banks for Small Business Owners: Comparing Fees and Services

Why Small Business Owners Should Consider Online Banks

The rise of online banking has revolutionized how small business owners manage their finances. Here are a few reasons why online banks are becoming a preferred choice for business banking in 2025:

• Lower Fees: Many online banks offer lower fees compared to traditional brick-and-mortar banks.
• Convenience: With mobile banking and 24/7 access, online banks provide greater flexibility in managing business transactions.
• Better Integration: Most online banks offer seamless integration with accounting software and tools like QuickBooks or Xero.
• Advanced Security Features: Many online banks provide state-of-the-art security measures, ensuring your financial data is protected.

When comparing online banks for small businesses, it's essential to consider not only the fees but also the features that align with your business needs, such as transaction limits, cash deposit options, and customer support.

Top Online Banks for Small Business Owners in 2025

1. BlueVine

BlueVine is one of the most popular online banking platforms for small business owners looking to earn interest on their business checking account balances. It offers no monthly fees and a 1.00% interest rate on balances up to $250,000. This is a significant benefit for businesses that want to grow their savings while maintaining flexibility in their accounts. BlueVine also offers unlimited transactions, which is ideal for businesses that conduct a high volume of transactions. Cash deposits can be made via a network of partner ATMs.

2. Novo

Novo is a user-friendly online bank that targets tech-savvy small business owners who want seamless integration with their existing business tools. Novo offers no monthly fees and provides free ACH transfers, which is a big plus for businesses that need to move money between accounts quickly and at no cost. It integrates with over 50 popular business tools like QuickBooks, Stripe, and Shopify, making it perfect for online entrepreneurs. Cash deposits are facilitated through services like Stripe, but Novo doesn't support traditional bank deposits, which may be a downside for some users.

3. Lili

Lili is a standout choice for freelancers and small business owners in the gig economy. It offers a free plan with features tailored to individuals managing their business and personal finances. Lili provides expense categorization and a tax savings tool, making it easier for freelancers to prepare for tax season. While Lili doesn’t offer direct cash deposit services, users can deposit cash via MoneyPak or other partner systems. Its simplicity and ease of use make it ideal for independent workers.

4. Axos Bank

For businesses that conduct high volumes of transactions, Axos Bank is an excellent choice. It offers a variety of business banking plans, including no monthly fees for its basic plan and free ACH transfers. Axos Bank's high transaction volume limits make it a great option for small businesses with more complex financial needs. Cash deposits can be made through ATMs and a network of partner locations. For larger businesses, Axos also offers credit lines and lending options.

5. Kabbage

While Kabbage is primarily known for its business loans, it also provides free business checking accounts with no monthly fees. Kabbage is a great choice for businesses that need access to working capital but also want a simple and efficient way to manage daily transactions. With flexible credit lines and a focus on fast, short-term loans, Kabbage is ideal for businesses that face cash flow issues. Cash deposits can be made through ATMs and partner locations.

6. Fundera by NerdWallet

Fundera offers business loans and financial tools, making it a great option for businesses that are looking for financial guidance alongside banking services. While Fundera does not offer traditional banking features like cash deposits, its financial tools can help small business owners with budgeting, tracking expenses, and finding financing options. Fundera is ideal for small businesses seeking loan options or a financial planner to help them grow.

Conclusion: Which Online Bank is Best for Your Small Business?

Choosing the right online bank for small business owners in 2025 depends largely on your business’s size, transaction needs, and financial goals. Here’s a quick guide to help you decide:

• BlueVine is best for businesses that want to earn interest on their checking accounts and conduct unlimited transactions.
• Novo is perfect for online businesses and tech-savvy entrepreneurs who need to integrate with various business tools.
• Lili is tailored for freelancers and gig economy workers looking for simplicity and tax savings tools.
• Axos Bank is ideal for businesses with high transaction volumes and those seeking additional financial services like lending.
• Kabbage is a good option for businesses needing working capital with an easy-to-use business checking account.
• Fundera is best for small businesses seeking loans or financial tools to help them manage finances and growth.

Each of these online banks provides distinct advantages that can help small business owners streamline their financial operations, reduce fees, and gain better access to essential services. Make sure to evaluate your specific needs and choose the bank that aligns with your business goals.