Tag: Review

Ranked as the best online bank among business bank accounts for LLCs, Axos (formerly BofI (Bank of Internet) Federal Bank) is one of the most well-established fintech institutions in the US. This Axos review will show you the sort of business banking products it offers, which are ideal for entrepreneurs.

Our Verdict

Axos Bank

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Axos offers all-online business banking services where you can open and manage your business accounts without ever visiting a branch. The online bank offers four types of business accounts. These include Basic Business Checking, Business Interest Checking, Business Savings, and Business Premium Savings accounts.

Although it’s a completely virtual bank, unlike its competition, Axos doesn’t depend on any other financial institution. It’s a complete bank in itself. Plus, it allows cash deposits through MoneyPass and AllPoint networks which is a huge advantage. Most accounts are completely free with low minimum deposits. One drawback is that it doesn’t offer the highest yields and its Basic Business Checking account doesn’t offer any APY at all.

• No monthly fee and unlimited transactions
• Cash deposits allowed via MoneyPass and AllPoint ATMs
• Wide range of interest-bearing options

• No physical locations
• Limited integrations
• Doesn’t offer the highest APY

Axos Business at a Glance

Unlike most online business banking services, Axos is an FDIC-insured bank and not just a financial services provider. Apart from its wide range of personal banking products and services, Axos has plenty to offer for businesses. 

Its basic business checking account has no monthly fee which makes it one of the best free business banking accounts. Apart from that, Axos Bank also offers Business Interest Checking, Business Savings, and Business Premium Savings accounts. It also offers money market accounts, Small Business CDs, and CDARS.

While Axos’ customers have plenty of interest-bearing options, the yield rates aren’t as high as some of the other banks. That said, Axos Basic Business Checking account is perhaps its strongest selling point. This is because it has no monthly fee or minimum balance requirement and offers unlimited monthly transactions, unlimited ATM fee refunds, the first set of 50 checks for free and QuickBooks integration.

If you are interested in opening a fee-free business account, here is a detailed Bank of America Review, NBKC Bank Account Review, and Chase Bank Review packed with information about the pros, cons, and alternatives.

When it comes to drawbacks, Axos doesn’t have many except that it has no physical locations and is very limited on the integration front. Its QuickBooks integration is perhaps the only compatibility it has with third-party software. 

Who Axos Business Banking is Best For 

Axos is best for business owners who want to avoid the hassle of visiting a bank branch in person. Its banking services have low maintenance fees or minimum balance requirements but offer low interest rates. So if you’re a business owner who wants to avoid paying account maintenance fees rather than earn interest on your deposit, Axos is a great choice for small business checking.

Axos Business – Pricing 

When it comes to business banking offerings, Axos’ spread of business bank accounts beats most competitors. In this review, our primary focus would be on its four checking and savings accounts. 

Axos

Basic Business Checking

Business Interest Checking

Business Savings

Business Premium Savings

Monthly fee

$0

$10

$5

$0

Minimum opening deposit

0

$100

$1,000

$25,000

APY

0%

1.01%

0.20%

0.20%

Transactions allowance

Unlimited

100 free items/month, $0.50/item thereafter

6 transactions/month

6 transactions/month

Sign up bonus

$200

$200

$200

$200

No fee balance

N/A

$5,000

$2,500

$0

Security

FDIC-insured

FDIC-insured

FDIC-insured

FDIC-insured

Additional features

50 checks free, unlimited domestic ATM fee reimbursements, QuickBooks integration

50 checks free, unlimited domestic ATM fee reimbursements, QuickBooks integration

Free image statements, free online and mobile banking, with remote deposit anywhere

Free image statements, free online and mobile banking, with remote deposit anywhere

As the table suggests, Axos business banking services are one of lowest-priced in the market. However, this comes at a cost of low APY. When it comes to features, Axos business bank accounts don’t have a lot to offer except a QuickBook integration and free mobile banking. 

That said, Axos Bank is still a top choice for any business that wants to keep its banking online. It has very low minimum deposit requirements and charges zero monthly maintenance fees for its online business checking accounts and premium savings accounts. Even when it does charge a monthly fee, it’s only $5 to $10, which is still fairly low compared to other business bank account services. 

Axos Business Banking Features

Let’s take a look at some of Axos Bank’s distinguishing features. Read through this section to understand what features it has to offer, what it means for your business, and how the service provider weighs up against other business banks. 

Full-Service Online Bank

As mentioned earlier, Axos Bank operates online only. But that doesn’t mean it relies on another financial institution to bring its services to you. It is a complete FDIC-insured bank in its own right. 

Apart from the usual business checking and savings accounts, Axos Bank’s customers can also avail of other services like money market accounts, certificates of deposits, investment options, and small business loans.  

Unlimited ATM Fee Reimbursements

Axos Bank’s unlimited domestic ATM fee reimbursements are one of the biggest advantages of going with this bank. Axos Bank has one of the most extensive ATM networks across the country that customers can use for free.

But if a customer uses an out-of-network ATM, with Axos Business Checking Account, you can use any ATM in the country without incurring ATM fees. Initially, you are charged a fee from the ATM owner, but Axos’ unlimited domestic ATM fee reimbursements mean you’re reimbursed with any deducted fees after a set time period. 

Free Cash Deposits

While many claim Axos Bank isn’t the best choice for cash deposits, we find it otherwise. Axos customers can make cash deposits in their account free of charge from any one of the MoneyPass or AllPoint ATMs across the US. 

That said, if you anticipate regularly depositing large amounts of cash in your business account, you’d be better off opening a business bank account with an institution that has physical branches near you. Still, Axos is much better than other online banks when it comes to cash deposits.

Other online banks let you make cash deposits, but they only use Green Dot, a third-party service that charges $4.95 per deposit. If you have a MoneyPass or AllPoint ATM near where you live or where your business is, Axos is definitely a great choice. 

Merchant Services

Accepting payments from customers is a large part of the day-to-day operations of many small businesses. Axos Bank has a partnership with Celero Merchant Solutions to help your SMB receive payments with ease. With Axos, your business can access POS (point-of-sale) terminals and equipment, ACH and billing solutions, along with mobile and ecommerce solutions to get paid.

QuickBooks Integration

All online banks should offer integrations to other business software to make operations as automated and smooth as possible. Axos Bank’s Quickbooks integration allows users to transfer records and transaction information automatically, hence, saving them the hassle. All in all, it makes paying bills and managing business finances much easier.

Axos’ QuickBooks integration is perhaps the only instance of its compatibility with third-party software. It would be better if there were more integrations. 

Axos Bank Customer Service

Since Axos Bank’s complete focus is on virtual banking, it takes customer services very seriously. It offers 24/7 phone support for its customers along with secure built-in messaging, and mail support.

Moreover, the Axos mobile app carries helpful features including fund transfers, account access, online bill payments, and mobile check deposits so you can get everything done with ease. The mobile app is available for both iOS and Android. 

The Axos Bank website has more customer support options. This includes FAQs, calculators, and the Axos Bank blog that answers a lot of questions potential customers might have. 

Alternatives to Axos 

If you feel Axos isn’t the best choice for your business banking needs, you’ve got plenty of alternative options. Bluevine, Novo, and Capital One are some alternative business banks you can look into.

BlueVine

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BlueVine Review

Considered the best free business bank account for small businesses, BlueVine provides a well-rounded banking service which makes it a top alternative for Axos. It offers a decent interest rate of 1.5% APY for balances of up to $100,000 on its business checking account which clearly puts it ahead of Axos.

Don’t forget to visit our detailed US Bank Review and Lili Review to help you choose the right bank account for your small business.

When it comes to ease of use, setting up your business checking account with BlueVine is quite easy. All types of businesses from corporations to sole proprietorships can create their accounts with ease. BlueVine also lets you open a bank account with an EIN only so you can keep personal information private.

• High interest rates
• Very few fees
• No minimum deposit required

• Charged cash deposits through Green Dot only
• Monthly transfer limits
• Checking accounts only

Novo

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Novo Review

Novo is yet another top alternative to Axos. However, just like Bluevine, it only offers checking accounts for businesses. Creating an account on Novo is free and it charges one of the lowest fees in the industry for different services. 

Still interested with bank account with low fees? Visit these reviews that will help you with it; Oxygen Review and Kabbage Review.

Novo strikes you with a penalty of $27 any time you exceed the transaction limit. But there are no monthly balance requirements, and the bank also refunds all ATM fees.

• Zero monthly fees or minimum balance required
• Mobile app
• Refunds all ATM fees

• Cannot deposit cash
• Fee for overdrawn accounts
• No savings accounts

Capital One

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Capital One Review

Capital One’s Spark Business is considered one of the best bank options for small businesses. Capital One offers two types of business checking accounts and also offers Spark Business Savings account that gives you 1.75% APY. 

The Basic checking account offers unlimited online deposits, online and mobile banking, and a low minimum balance to waive monthly fees. The Unlimited business checking account comes with two Basic accounts, making it a great option for businesses with a complex financial structure.

• Experienced support from a large bank
• Self-service escrow services
• Strong and quick customer service

• $250 minimum opening deposit
• $35 or $15 monthly service fee if less than the minimum balance
• Available only in some states

Bottom Line on Axos Review

With a wide range of business banking services, Axos Bank is a good choice for any business that wants to keep its finances digital. It’s a great option if you want to open and manage all your finances without ever visiting the bank in person.

Axos business checking accounts offer a combination of flexible spending and interest-earning, however, it doesn’t have the best APY. Several Axos reviews online claim it’s lacking when it comes to cash deposits, but that is far from the truth. You can deposit cash free of charge from any one of the MoneyPass or AllPoint ATMs around the country. 

Best Business Bank Accounts by State

Below you will find an interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area.

U.S. Bank offers a range of business checking accounts, which makes payments, purchases, and deposits easy for business owners. It also offers investment options ideal for anyone wanting to grow their wealth. This detailed U.S. bank review will analyze what makes this best bank for startups and small and medium-sized businesses.

Our Verdict

U.S. Bank

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U.S. Bank offers a range of business-friendly products, including five different checking accounts, savings accounts, Money market accounts, CDs, credit cards, loans, and a business line of credit, among other financial products. The wide array of offerings allows easy scaling. Entrepreneurs can upgrade their business banking packages as their ventures grow.

• Available in all 50 states
• Easy access to physical branches for in-person banking
• 5 unique business checking accounts to suit different business needs

• Physical branches are not available in all states (only 26 states)
• Overdrafts attract a hefty fee
• Middling APY on most accounts

U.S. Bank at a Glance

U.S. Bank ranks as one of America’s top five biggest banks. It offers a good variety of business accounts and financial services and boasts over 3,200 physical branch locations in 26 states, 5,000 plus ATMs, and a convenient mobile app. 

Through web support and in-person visits to any of the bank’s branches, users enjoy comprehensive financial solutions. Unfortunately, US bank also has some significant drawbacks, like a lack of extra features even for premium accounts. Also, the bank offers middling interest rates, making it wiser to save your money elsewhere.

Who Is U.S. Bank Best For? 

U.S. Bank is one of the best options for small businesses looking for friendly starter accounts. It offers a range of products designed to suit businesses with relatively low transaction volumes and inconsistent balances. More established companies needing advanced banking packages, more features, and better APYs on their balances can find better deals elsewhere.

Pricing

U.S. Bank offers five checking accounts, with the Silver, Gold, and Platinum accounts being the most popular. While the Silver package offers enhanced simplicity and convenience for smaller firms, the Gold package is best for medium-sized businesses that want both flexibility and value.

The Platinum package offers better rewards and benefits but is more suited for well-established businesses that maintain higher balances. U.S. Bank also offers a Premium business checking account for larger businesses. This is ideal for companies with more complex banking needs that want to enjoy credit rates on qualifying balances.

If you want to open a fee-free business account, here is a thorough BlueVine Review, Bank of America Review, and Novo Review with information on the benefits, drawbacks, and alternatives.

Here’s a simplified comparison chart of the most popular checking accounts to help you pick the best option for your business needs.

Features

Silver

Gold

Platinum

Monthly maintenance fee

$6.95

$14.95

$24.95

Number of free monthly transactions

125

300

500

Number of free cash deposits monthly

25

100

200

50% discount on first check order

Free mobile check deposits

Card payment processing

Check fraud prevention

Paper statement fee

$2

$2

$2

Stop payment fee

$35

$35

$35

Overdraft fee

$36

$36

$36

Overdraft protection transfer fee

$12.50

$12.50

$12.50

Account Basics 

The popular U.S. Bank checking accounts are not interest-bearing products. Even though the Platinum Checking account offers interest rates, they are way below the national average of 0.05%. If you want more attractive interest rates on your business’s balances, you should consider CDs, savings, or money market accounts.

Here are the APY rates to expect:

Checking accounts

Savings accounts

CDs

Money market accounts

0.00%

0.01%

0.40%-0.70%

0.01%-0.05%

U.S. Bank Features

U.S. Bank does not offer the most feature-packed banking solutions. However, you’ll get access to all the essential services for the smooth running of your business. The following are some things to expect.

Mobile Banking

U.S. Bank offers a user-friendly mobile app packed with secure digital banking tools. The app simplifies everyday banking by giving you the power to pay bills and transfer funds at your fingertips. You can also check on your current balances, deposit checks, access your tax documents, and view your e-statements from your Android or iOS.

Fraud Protection

U.S. Bank is keen on fraud protection. For example, they have put in place measures for securing credit cards, check payments, and all transactions conducted through the mobile app. Also, during digital banking, the bank keeps all wireless communications encrypted to minimize the risk of information, money, or identity theft.

Remote Deposit

Another key feature of all U.S. Bank accounts is remote deposit. This allows you to dodge the hassles of sending paper checks. You only need to capture checks with your smartphone and send the images to the bank for deposits.

EZ Switch Kit

The EZ switch kit makes switching from your old bank a breeze. U.S. bank provides reliable assistance throughout the process to make the transition smooth, fast, and easy. Through the five-step process, you can conveniently open a business account with U.S. Bank and close your old account without your company experiencing any downtime.

U.S. Bank Alternatives

If you put high emphasis on the reputation and stability of a bank, U.S. Bank is undoubtedly an excellent option to consider. However, if you want a bank that comes with more features and higher APYs on your balances, better options are out there. Let’s look at three alternatives.

Chase Bank

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Chase Bank Review

JPMorgan Chase Bank is one of the best alternatives to U.S. Bank because it is reputable and ranks as the largest full-service bank. It is arguably a better alternative because it offers a broader menu of financial services and products, including an extensive range of credit card offerings. The bank also provides decent APYs on business checking, CDS, and business savings accounts.

Who Is Chase Bank Best For?

Chase bank is a solid option for businesses that maintain high balances to waive the monthly fee. While the bank has a robust online presence and is one of the best mortgage lenders, it also has an extensive local presence with over 4,700 branches. This makes it ideal for entrepreneurs who prefer in-person banking.

 Account Basics

• Checking Accounts— 0.01% to 0.05% APY
• Savings Accounts— 0.01% to 0.05% APY
• Certificates of Deposit—up to 0.05%

How Does Chase Bank Compare to U.S. Bank?

Chase and U.S. Bank are large and well-established financial institutions. As expected, they share a lot in common. However, Chase bank is better for entrepreneurs that want an easier means of waiving their monthly account maintenance fees. On the other hand, U.S. Bank offers better CD APYs.

• Easy access through the 4,700 branches & 16,000 ATM network
• Enticing introductory bonuses for new customers
• The monthly fee can be waived

• Using ATMs outside the bank’s network will cost you $2.50
• No money market accounts
• Lacks high-yield savings accounts

Citibank

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Citibank is your best bet if you are searching for a Chase and U.S. Bank alternative that offers all the perks of a big bank coupled with the benefits of a digital financial institution. Its interest rates on balances are more competitive, especially if you are regionally eligible for the high-yield savings account.

Who Is Citibank Best For?

If you live in any of the 41 out of 50 states eligible for Citibank’s Accelerate Savings Account, you are likely to find this alternative ideal for your businesses. Citibank is also a good option for entrepreneurs that prefer digital banking because the institution has less than 700 branches in the U.S.

Account Basics

• Checking Accounts—0.01 to 0.03% APY
• Savings Accounts—0.04% to 0.50% APY
• Certificates of Deposit (CDs) — 0.05% to 0.25% APY

How Does Citibank Compare to U.S. Bank?

Both Citibank and U.S. Bank are large financial institutions better known for their convenience over high APY rates. Both banks use top-shelve technology to provide a reliable online banking experience. 

However, Citibank has fewer local branches making U.S. Bank better if you prefer in-person banking. Citibank is a top choice for businesses looking for better interests in their savings account balances.

• An extensive network of over 65,000 fee-free ATMs
• High-yield savings account
• Account service fees are easy to waive

• The high-yield savings account is only available in 41 out of 50 states
• High monthly fees for those that don’t meet the minimum balance requirement
• Less than 700 physical branches in the U.S.

Wells Fargo Bank

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Wells Fargo is a long-standing bank founded in 1852. It is the fourth largest bank in America and has been in the industry for over 170 years. While it has a somewhat tainted image because of the high-profile fraud scandals reported in the mid-2010s, the bank remains a top choice for many businesses because of its technological innovations, reliable customer service, and convenient financial products.

Who Is Wells Fargo Best For?

Wells Fargo is best for entrepreneurs that prioritize convenience over high-interest rates earning potential. The option works well for businesses that prefer in-person banking and are located close to a Wells Fargo physical bank.

Account Basics

• Checking accounts—0.00% or 0.01% APY
• Savings Accounts— 0.01% to 0.02% APY
• Certificates of Deposit— 0.01% to 0.02% APY

How Does Wells Fargo Compare to U.S. Bank?

Wells Fargo is yet another megabank with a massive network of branches and ATMs, just like U.S. Bank. Also, it does not offer the best APYs on savings, making it an ill fit for businesses that maintain high balances. While Wells Fargo provides an easier means to waive monthly fees without maintaining the minimum balances, U.S. Bank offers a lower deposit requirement for CDs.

• A massive network of branches (4,900) and ATMs (12,000)
• Easy to waive monthly service fees
• Tech-forward mobile app

• You can find better APYs on your balances elsewhere
• Accessing funds through out of network ATMs attracts a fee
• Hefty overdraft fees ($35)

Final Thoughts on U.S. Bank Review

U.S. Bank offers some of the best business bank accounts and is a decent option for small business owners who prefer in-person banking and easy access to thousands of fee-free ATMs. It is also a solid option for entrepreneurs interested in digital banking because it embraces technology and has a well-rated mobile app. 

Generally, you can expect a reliable range of financial products that allow enough wiggle room to accommodate growing businesses. The main tradeoff is that most accounts have high fees and low-interest rates, making them unsuitable for larger companies. We hope this comprehensive U.S. Bank business account review helps you make an educated decision.

Best Business Bank Accounts by State

Below you will find an interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area.

You can build your own NBKC bank account according to your evolving needs as a small business owner or freelancer. This scalable banking solution grows along with your business because of its budget-friendly pricing, customizable add-ons, and personalized services. Take a closer look at the rates, features, pros, cons, and competitors NBKC to discover if it’s a smart choice for you.

Our Verdict

NBKC Bank

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NBKC is an interesting alternative for entrepreneurs like you who want to open a business account that you can tailor to your preferences. First, it’s easy on the pocket because it doesn’t charge you monthly or annual fees for basic banking services.

On top of the freebies, you can also subscribe to a variety of add-ons to expand the functionality of your NBKC bank account. Last but not least, NBKC prides itself on providing customer assistance with a personal touch.

Nevertheless, NBKC has some drawbacks too. To begin with, you won’t automatically get a credit card with your business account, although you will receive a debit card. Also, you won’t gain interest if you choose the checking account, yet you can expect a minimal APY if you select the savings account. Finally, you can contact the support team only from Mondays to Fridays, but not during weekends.

To sum things up, NBKC is a practical business account for you in case you value banking flexibility.

• Cost-effective pricing
• Many extra service options
• In-person assistance available

• No credit card
• Zero APR for business checking account
• Weekday support only

NBKC Bank Account at a Glance

NBKC is an online bank and mortgage lender that offers business and personal accounts. Its goal is to provide simple solutions to make banking accessible to everyone. Founded in 1999, it’s currently based in Kansas City, Missouri. Since 2017, it has gained recognition as the Kansas City Business Journal Best Place to Work.

NBKC has an edge over other banks when it comes to adaptability. Both business checking and savings accounts include built-in features like debit card, check deposits, online banking, Bill Pay, stop payments, incoming domestic wires, security, and customer service. Beyond this, you have the option of selecting additional services to level up your banking experience.

Pricing: Starts at $0/month or year

Who NBKC Bank Account Is Best For

The NBKC bank account is suitable bank for startup entrepreneurs and independent contractors who need a business account they can tweak based on their business development. It already comes with complimentary basic services to get you started on your banking journey. At the same time, you can boost your plan by signing up for extra features as your needs and budget grow over time.

Pricing

NBKC stands out among business bank accounts because of its unique pricing scheme. Unlike other banks that offer different tiers, it only presents you with a single type each of business checking account and business savings account. However, you can customize your account by selecting add-on services.

Take a peek at the chart to find out what’s included in every NBKC bank account:

Accounts

Business Checking Account

Business Money Market Savings Account

Monthly/Annual Fees

$0

$0

Minimum Initial Balance

$0

$0

Minimum Maintaining Balance

$0

• Without APY: $0
• With APY: $0.01

APY

None

0.05%

Debit Card

Free NBKC Business Debit MasterCard

Free NBKC Business Debit MasterCard

Check Deposit

Free via in-branch or NBKC app

Free via in-branch or NBKC app

Online Banking

Free for Android & iOS

Free for Android & iOS

Bill Pay

Free

Free

Stop Payments

Free in-branch or online

Free in-branch or online

Incoming Domestic Wires

Free within the U.S.

Free within the U.S.

Security

FDIC insurance, multi-factor authentication & customer identification program

FDIC insurance, multi-factor authentication & customer identification program

Customer Service

Weekday support via phone, email, or in-person

Weekday support via phone, email, or in-person

Add-ons

Multiple paid extra services

Multiple paid extra services

In short, there is only one type each of NBKC business checking and savings accounts:
Business Checking ($0/month or year): This free business checking account makes it easy for you to issue check payments and perform other business transactions. Aside from having zero monthly or annual fees, there’s no minimum balance required to maintain your account.

If you are interested in opening a fee-free business account, here is a detailed BlueVine Review and Bank of America Review packed with information about the pros, cons, and alternatives to both fintech companies.

Business Money Market ($0/month or year): This free business savings account lets you safely store and grow your professional funds. Again, you won’t be charged any monthly or annual fees. While there’s technically no minimum maintaining balance, you need to have at least $0.01 in your account to receive APY.

On top of the free services, you can take your pick from paid extra services, which we’ll talk about in the add-ons section.

NBKC Bank Account Features

NBKC business accounts include a free set of essential features, plus paid additional services. Let’s discuss the APY, debit card, check deposits, online banking, Bill Pay, stop payments, incoming domestic wires, security, customer service, and add-ons in this review.

APY

The annual percentage yield (APY) is the interest that you can earn by keeping money in your NBKC bank account. If you open a Business Money Market account, you have the chance to gain a 0.05% APY on your savings funds. You do need to maintain a balance of at least $0.01 to get interest, but this amount is very minimal. However, don’t expect to receive APY at all if you have a Business Checking account.

Debit Card

No matter which business account you choose, you will receive a free NBKC Business Debit MasterCard. This debit card can come in handy if you plan to buy business supplies and equipment in online shops or brick-and-mortar stores that accept MasterCard.

Take note that neither the business checking nor savings bank account will automatically provide you with a credit card. Still, you can apply for a business credit card separately with NBKC.

Check Deposit

You can deposit checks for free, whether you have a business checking or savings account. You can go to a physical branch of NBKC to personally drop off the check. If there aren’t any NBKC locations in your area, you can perform the check deposit online with the help of the NBKC app.

Online Banking

Aside from check deposits, you can conduct different online business banking transactions via the NBKC app. It’s easy to use the app to transfer funds or check your account balance anytime, anywhere.

You can download the NBKC app from the Google Play Store, which means it’s compatible with Android mobile phones and tablets. It’s also available from the Apple app store so you can install it on your iPhone, iPad, or iPad touch.

Bill Pay

NBKC makes it convenient for you to pay your bills in a central way. It allows you to take advantage of Bill Pay on your smartphone, tablet, or computer. Plus, there’s no extra charge to use this online payment service when you have a NBKC business checking or savings account.

Stop Payments

You can make stop payments for free if you have a Business Money Market or Business Checking account. These requests make it possible for you to cancel check payments, as long as the checks haven’t been deposited, cleared, or encashed yet. NBKC gives you the chance to make stop payments online or by visiting a bank branch.

Incoming Domestic Wires

Both NBKC business checking and savings accounts permit you to accept incoming domestic wires for free. You can receive money that’s transferred from someone else’s bank account into your own business account, as long as the sender is located in the U.S.

However, you do need to pay a $5 fee every time you send domestic wires. Also, you will be charged $45 each time you send or receive international wires. This could potentially set you back major bucks if you often transfer money to other people or companies.

Security

NBKC is a member of the Federal Deposit Insurance Corporation (FDIC). This U.S. government agency ensures the safety of the funds which you stored in the bank. That’s why you can rest assured that the deposits in your business checking or savings account are insured up to $250,000.

In addition to this, multi-factor authentication adds extra layers of security to safeguard your account. You will be asked to enter an access code whenever you login or perform high-risk banking transactions. Lastly, the customer identification program verifies the identity of each person who opens an account to minimize the risk of money laundering.

Customer Service

NBKC makes an effort to provide personalized services to all its clients. You can contact the support team through phone or email. Plus, it has an edge over online banks because it gives you the chance to request for banking assistance in person.

Nevertheless, general account support is only available from 8 a.m. to 5 p.m. CST Mondays to Fridays. This could possibly cause inconvenience if you encounter banking issues on weekends. Also, NBKC only has one main office and four brick-and-mortar branches in Missouri and Kansas.

While this is less than the widespread locations of big banks, it’s still better than most online banks which have zero physical locations. At least, you have the option of visiting physical branches if you need face-to-face support, in case you live in one of the two states.

Add-ons

In addition to the built-in features we discussed, there is a wide range of add-ons you can subscribe to if you have a NBKC business checking or savings account. Some examples of extra services are desktop deposits, ACH transactions, extended archives, and business security tools.

Check out the chart below to get an overview of the add-on rates:

Monthly Fee

Annual Fee

Desktop Deposit

$15/month

$150/year

ACH Credits and Debits

$15/month

$150/year

Extended Archive

$15/month

$150/year

Business Fraud Tools

$5/month

$50/year

Alternatives to NBKC Bank Account

NBKC is a viable option for you if you value banking versatility. However, there are other alternatives you may consider if you prefer to focus on other aspects of banking.

Lili

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Lili Review

Lili is a financial technology company that provides business accounts via its partner bank, Choice Financial Group. It’s suitable for sole proprietors and independent contractors who need extra help in managing their business resources. It’s also considered as one of the best business accounts for LLCs. After all, it comes with a slew of financial management features, which NBKC lacks.

First, the tax optimizer tools make it easy for you to file your taxes and boost tax savings. Next, you can keep track of your expenses through the mobile app. Finally, you may create and edit invoices via the app so you can get paid for your products and services.

Still, NBKC is better than Lili in several ways. It actually has physical locations, in contrast to Lili which offers purely online services. Also, it gives you phone and in-person customer support, while you’re stuck with email support with Lili. Last but not least, the business accounts of NBKC are more adaptable than the Lili accounts, thanks to the add-on options.

Pricing: Starts at $0/month

• Tax filing assistance
• Built-in expense management
• Invoice tool

• No brick-and-mortar branches
• Limited email support only
• Not flexible like NBKC

Novo

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Novo Review

Novo is a financial tech company that offers business banking services with the help of its partner bank, Middlesex Federal Savings. It’s fitting for startup founders and freelance professionals who need a free business checking account that integrates with third-party platforms.

Unlike NBKC, Novo allows you to connect your bank account to PayPal, Stripe, and Square to increase your payment options. Plus, you will receive both virtual and physical debit cards, while NBKC only issues you a physical card. To top things off, you can send ACHs for free, in contrast to NBKC which charges for ACH transactions.

Nevertheless, NBKC is superior to Novo in other ways. For example, it grants you the option of a business savings account, which isn’t available with Novo. Aside from this, you can drop by NBKC brick-and-mortar branches in Kansas and Missouri, while it’s not possible to do so with Novo. Finally, NBKC allows you to apply for a credit card separately, unlike Novo which doesn’t have credit card offerings at all.

Pricing: Starts at $0/month

• Third-party integrations
• Virtual debit card
• Free outgoing ACH

• Savings account unavailable
• Zero physical locations
• No credit card

Kabbage

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Kabbage Review

Kabbage is a financial technology company powered by American Express that specializes in business funding. It’s appropriate for entrepreneurs who need a free checking account, plus loans which equip them to develop their business.

On one hand, Kabbage gives you the opportunity to apply for a line of credit, which NBKC doesn’t offer. In addition to this, you can earn a 1.10% APY by maintaining a business checking account, while NBKC only provides APY with the savings account. 

On the other hand, NBKC does have certain advantages over Kabbage. One of these is the ability to perform banking transactions in person, although you can make cash deposits via ATM with Kabbage. Plus, you can take your pick between a checking or savings account with NBKC, while Kabbage only provides a checking account. On top of this, you have more leeway to tweak your NBKC business account through extra services, which isn’t the case with Kabbage.

What Kabbage and NBKC do have in common is that you don’t have to worry about monthly maintenance fees if you open a business checking account with either one.

Pricing: Starts at $0/month

• Credit lines
• 1.10% APY for checking account
• Zero monthly charges

• No brick-and-mortar branches
• No savings account
• Less versatile than NBKC

Bottom Line on NBKC Bank Account

NBKC gives you the freedom to customize your business banking account to match the growth of your business. It stands out among online banks because of its scalable add-ons, affordable pricing, and solid customer support.

Now that you’ve read this NBKC bank account review, it’s up to you to decide if it’s the ideal banking solution for you as a small business owner or freelancer. Don’t forget to visit also our detailed Chase Bank Review and US Bank Review that might be really helpful for choosing the right bank.

Best Business Bank Accounts by State

Below you will find an interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area.

In today’s modern world, with payments and banks going digital, the role of brick-and-mortar banks is shrinking. However, it does have its place as it offers many benefits that mobile banks don’t have. In this Chase Bank review, we’ll look at one of America’s largest full-service banks. 

Our Verdict 

Chase Bank

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Chase Bank offers banking solutions catered for businesses, called Chase for Business. Chase Bank mixes the traditional brick and mortar with online banking by offering a large branch network and user-friendly online tools – what we consider ideal for small businesses that need both worlds combined together. 

As a traditional bank, Chase Bank doesn’t seem to want to fall behind its digital banks competitors and wants to attract customers – so it’s offering a $300 bonus to new customers when opening a Chase Business Checking account. It ranks fourth when it comes to the best business checking accounts.

• $300 bonus to new customers and cashback with business credit card
• 16,000 ATMs and 4,700 branches available across the U.S.
• No minimum opening deposit

• $15 monthly fee 
• Low to zero interest-earning potential
• In-person visit to open an account

Chase Bank Business Account at a Glance 

The Chase Business Complete Banking account stands out among the best business bank accounts for LLCs. This business account gives its account holders the best of the offline and online world: It provides access to 16,000 Chase ATMs and 4,700 branches across the U.S while providing user-friendly online banking tools. 

This business checking account offers many benefits for the business owner; the first one is the sign-up bonus. If you sign-up for the Chase Business Complete Banking account, you’ll get a $300 bonus as long as you deposit $2,000 on your account, maintain it for at least 60 days, and complete one of the five activities required within 90 days of offer enrollment.

However, if you can’t afford to maintain the minimum deposit to get the bonus but you still want to open a business account at Chase Bank, the good news is that you can, and there’s no minimum opening deposit. But the rewards and benefits don’t stop there. 

Chase Bank also gives a $750 bonus cash back for new business credit card members and unlimited 1.5% cash back rewards on every purchase. All you have to do is spend $7,500 on purchases in the first three months after account opening.

The Chase Business Complete Banking account isn’t a good fit for those looking for some earning potential within their bank accounts – Chase Bank doesn’t offer interest in most of its accounts. Also, we wouldn’t recommend this account for people who don’t want to pay an in-person visit to open an account – you must visit a Chase branch in person to open a Chase Business Complete Banking account.

Who Chase Bank Business Account is Best For 

Business owners who need in-person support and have access to several ATMs across the country while using user-friendly mobile and banking tools, then this account is for you. 

You should also consider the Chase Business Complete Banking account if your business deals with many transactions, but you don’t want to get hit with per-transaction fees – online transactions are unlimited.

If you are interested in opening a fee-free business account, here is a detailed Oxygen Review, Kabbage Review, and SoFI Review packed with information about the pros, cons, and alternatives to both fintech companies. 

Pricing

In this review, we’re mostly covering the Chase Business Complete Banking which caters most to small-business owners but Chase Bank offers three business checking accounts: Chase Business Complete Banking, Chase Performance Business Checking, and Chase Platinum Business Checking. 

For a better understanding of all price tiers in the business checking account, we’ve compared the main features of the three accounts. 

Chase

Chase Business Complete Banking

Chase Performance Business Checking

Chase Platinum Business Checking

Monthly Fee

$15 or $0 monthly fee if you maintain $2,000 minimum daily balance

$30 or $0 monthly fee if you maintain $35,000 combined average beginning day balance

$95 or $0 monthly fee if you maintain $100,000 combined average beginning day balance

Cash Deposit Fee

Fee-free at $5,000 in cash deposits per statement cycle

Fee-free at $20,000 in cash deposits per statement cycle

Fee-free at $25,000 in cash deposits per statement cycle

Mobile and Online Banking

Multiple User Accounts

Accept Card Payment

Fraud Prevention Services

Fee-free Incoming Wires

Cash Management Support

Platinum Business Customer Service

Chase Bank Business Account Features

As a brick and mortar traditional bank with digital banking tools, Chase Bank Business accounts offer many benefits among its features, even in the entry-level option. We’ve listed the main features below. 

Mobile and Online Banking 

The Chase Mobile® Banking app is easy to use and offers security with encryption technology and offers many interesting features to business owners such as online bill pay (and schedule payments), fraud protection, receiving or sending payments, getting account alerts and setting up multiple account users straight from the app. 

Sign-up Bonus

If you’re looking for a business checking account with a sign-up bonus, this is an opportunity to earn some extra money. Chase Bank offers $300 for newcomers who sign up for Chase Business Complete Checking, deposit $2,000 and maintain it for 60 days, and complete five of the qualifying activities such as debit card purchases and Chase QuickAccept deposits.

Cash Back Bonus

Earn a $750 bonus cash back after you spend $7,500 on purchases in the first three months after account opening, 5% cashback on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year and 2% cashback on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year with Ink Business Cash® credit card.

Accept Card Payment

Your business can accept credit and debit card payments with Chase QuickAccept in the Chase Bank app. This payment processing service connects with a mobile card reader to tap, swipe or dip transactions and you can receive the funds into your account on the same day. 

No minimum opening deposit

Most brick-and-mortar business checking accounts require a minimum deposit of money to open a bank account. However, the Chase Business Complete Banking℠ account is one of the few that doesn’t do that. Even if you have no extra cash, you can even open a Business Complete Banking℠ account with no money.

Alternatives to Chase Bank Business Account

In case you aren’t sure whether the Chase Bank Business account isn’t the best fit for your business, there are some alternative options and we’ve listed the best ones. 

BlueVine

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BlueVine Review

BlueVine is an excellent alternative for Chase Bank. You can pay bills, apply for small loans in minutes, and even earn a decent interest rate without having to pay monthly fees. As opposed to Chase, you can open a bank account in a few minutes with no minimum deposit, so it’s a good fit for businesses of any size.

Account-holders also get unlimited transactions and can earn 1.5% interest on your balance up to and including $100,000 if you meet a monthly activity goal.

• Earn up to 1.2% APY
• No monthly fees
• No minimum balances

• Only allow cash deposits through Green Dot Services
• No physical branches

Novo

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Novo Review

Another great option for small businesses is Novo. The mobile-only bank offers an easy-to-use platform, under a 10-minute application, refund ATM fees and no monthly fees, as opposed to Chase Bank. 

Novo offers free ACH transfers you can easily sign into your app via your mobile device and pay bills, send money, fund payroll, or transfer money to your personal account within seconds. However, Novo falls short in two aspects: it doesn’t allow users to set up recurring payments and as a digital bank it doesn’t let you deposit cash. 

• User-friendly app
• Refund ATM fees
• No monthly fees

• No recurring payment functionality
• Can’t deposit cash

Mercury

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What’s interesting in Mercury is that it advertises itself as a fintech, not a bank. Mainly focused on ecommerce businesses and startups, this company offers both virtual (generated instantly) and physical cards, it integrates with major accounting software, and Mercury’s checking and business savings accounts are completely free with no minimum deposit or balance requirements.

The drawback of opening an account with Mercury is that, like most online-only banks, you can’t deposit cash and in case you’re looking for some earning potential – similar to Chase Bank – Mercury offers no-interest drawback.

• Virtual and physical card available
• No minimum deposit or balance required
• Accounts integrate with major accounting software

• Can’t deposit cash
• No interest-earning potential

Bottom Line on Chase Bank Review

Overall, Chase Bank offers many benefits for small business owners–especially for those who need to make a deposit in cash, need in-person assistance, access fee-free ATMs but don’t want to give up the ease of having an online bank right in your pocket.

Best Business Bank Accounts by State

Below you will find an interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area.

Lili is an all-purpose bank account that helps sole proprietors and freelancers manage their business finances, thanks to its tax optimizer tools, built-in expense tracking, and budget-friendly pricing. In this Lili review, we’ll take a closer look at its pricing, features, pros, cons, and competitors.

Our Verdict

Lili

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Lili is a versatile banking solution for small business owners and independent contractors who plan to open a business account. First, it makes it easy for you to file taxes and increase tax savings. Next, it allows you to monitor your business expenses on the go through the mobile app. Finally, there’s a free business account available, while the paid account is also affordable.

To be realistic, Lili does have some shortcomings too. To begin with, you can only earn interest if you sign up for the paid account, but not the free version. Also, while Lili covers overdrafts up to $200 for the paid account, the same coverage isn’t available for the free version. Lastly, the customer service is only limited to email support on weekdays during business hours.

As we’ll discuss in this review on lili, it’s a low-cost account with practical features that can be helpful for beginners in business banking. Check out the summary of the benefits and drawbacks of Lili:

• Tax optimization tools
• Built-in expense management
• Economical pricing

• Zero APY for free account
• Overdraft protection for paid account only
• Skimpy customer support

Pricing: Starts at $0

Lili at a Glance

Lili is a financial technology company that offers business banking accounts through its partner Choice Financial Group. Its mission is to empower small business owners and freelancers to grow their business through banking services. Established in 2019 by Lilac Bar David, there are now over 100,000 users of the Lili app.

Lili is distinct from other bank accounts because it comes with extra tools for tax and business management. The features we’ll focus on in this review are mobile checking, ATM services, BalanceUp, APY, direct deposit, cash deposit, debit card, cashback rewards, expense tracking, tax optimizer tools, invoice tools, mobile app, security, and customer support.

Who Lili Is Best For

Lili is suitable for owners of sole proprietorships who need an affordable yet useful business banking account. After all, the free account doesn’t require you to pay any monthly fees, while the paid account only charges a minimal monthly fee.

Plus, it comes with handy business solutions like mobile checking, tax tools, and expense tracking which helps you manage your professional funds. In spite of its cheap price, Lili is more than enough as a bank for startup entrepreneurs or independent contractors who wish to jumpstart their business.

Pricing on Lili

Lili offers two types of business bank accounts for small business owners and freelancers. Compare the similarities and differences between the two accounts by exploring the chart below:

Lili

Lili Standard

Lili Pro

Price

$0/month

$4.99/month

Minimum Balance

$0

$0

Mobile Checking

ATM Services

Free at 38,000+ MoneyPass ATMs

Free at 38,000+ MoneyPass ATMs

BalanceUp

APY

None

1%

Direct Deposit

Up to 2 days faster

Up to 2 days faster

Cash Deposit

Third-party retailers

Third-party retailers

Debit Card

Visa Business Debit Card

Premium Visa Business Debit Card

Cashback Rewards

Expense Tracking

Basic

Advanced

Tax Optimizer Tools

Invoice Tools

Mobile App

Android + iOS

Android + iOS

Security

FDIC insurance + Encryption + Freezing/unfreezing

FDIC insurance + Encryption + Freezing/unfreezing

Customer Support

Weekday email support, 9 a.m. – 7 p.m. EST

Weekday email support, 9 a.m. – 7 p.m. EST

To sum things up, there are two kinds of Lili business bank accounts which you can select from:

1. Lili Standard (Free): The basic account doesn’t require you to pay any monthly fees or maintain a minimum balance.
2. Lili Pro ($4.99/month): The paid account charges a low monthly maintenance fee, but there’s no minimum balance requirement. 

Lili Standard is a good deal for you if you’re on a tight budget. However, if you can afford the extra expense, it’s worth upgrading to Lili Pro because it comes with more major features for just a small amount each month.

Lili Bank Offers a Lot of Features

If you start a Lili bank account, you can benefit from essential banking services and tools. In this Lili business account review, let’s talk about mobile checking, ATM services, BalanceUp, APY, direct deposit, cash deposit, debit card, cashback rewards, expense tracking, tax optimizer tools, invoice tools, mobile app, security, and customer support.

Mobile Checking Lili Bank

Lili offers you a business checking account that’s particularly designed for sole proprietors and single-member Limited Liability Companies (LLCs). You can easily manage your account anytime, anywhere through the mobile banking app. Plus, you can perform mobile check deposit transactions even when you are on the go.

ATM Services Lili Bank

Lili makes it possible for you to withdraw your money for free from MoneyPass ATMs. At present, there are more than 38,000 no-fee ATM machines all over the U.S. You can find the closest ATM in your area with the assistance of the ATM locator in the mobile app.

Take note that you must pay a $2.50 fee if you withdraw cash from an ATM that’s not part of the MoneyPass network. Also, you will be charged a $5 fee if you make withdrawals outside of the country.

If you want to open a fee-free business account, here is a thorough BlueVine Review, Bank of America Review, and Kabbage Review with information on the pros, cons, and alternatives.

BalanceUp

Lili provides overdraft protection via BalanceUp. Aside from not charging penalty fees, the company covers overdrafts up to $200 on purchases you make through your debit card. However, this feature is only available for Pro depositors, not Standard customers. If you open a Pro account, you’ll receive a notification that you can enroll in BalanceUp once you meet the eligibility requirements.

APY

Lili grants a 1% APY incentive for customers who open an emergency savings account. You can set up an automatic transfer of $1 or more daily. Afterwards, you’ll have the chance to earn interest, as long as you maintain a minimum savings balance of $0.01. Nevertheless, this option is only open to Pro clients, not to Standard depositors. Keep in mind that the APY rate can change over time since it’s variable.

Direct Deposit on Lili Bank

Lili gives you the opportunity to receive your money quickly through direct deposit. It’s possible for you to get your paycheck deposits or client payments as early as two days in advance. All you need to do is set up direct deposit with your Lili account. Then, you’ll start receiving notifications as soon as the funds are transferred to your account. Thankfully, in this case, early direct deposit is available for both Standard and Pro accounts.

Cash Deposit on Lili Bank

Lili is a financial technology company, not a conventional bank. As a result, it doesn’t have any physical branches where you can drop by to deposit your paper bills. However, Lili has partnered with third-party retailers with over 90,000 locations in the U.S. where you can deposit cash to your Lili account, such as Walmart, RiteAid, and CVS.

Debit Card

You will get a Lili debit card whether you sign up for a Standard or Pro account. If you go for the free version, you’ll receive a Visa Business Debit Card. In case you select the Pro edition, you will gain a Premium Visa Business Debit Card. Either way, there’s no need to worry about transaction or service fees when you use the card for online or in-store payments. Still, there’s one major difference between the two types of cards, which we’ll talk about in the next section.

Cashback Rewards

The main advantage of the Premium Visa Business Debit Card over the regular Visa Business Debit Card is cashback. If you’re a Pro customer, you’ll have the chance to earn cashback rewards whenever you buy products or services from participating merchants.

As a result, you can save money on your business or personal purchases from Microsoft, TaxAct, Mailchimp, Chevron, and Autozone. Sadly, you won’t have the same incentives as a Standard depositor.

Expense Tracking

Lili is unique among business bank accounts because it makes it easy for you to manage your expenses. On one hand, the Standard account comes with a built-in expense tracking tool which lets you sort your expenses into categories in real-time. On the other hand, the Pro account includes an advanced expense tracking capability which helps you increase your tax deductions.

Tax Optimizer Tools

One of the most important strengths of Lili is that it boasts a rich set of tax optimizer tools which helps you meet IRS tax requirements for sole proprietors. First, the Tax Bucket makes it simple for you to set aside a portion of your income for your taxes. Plus, the Write-Off Tracker boosts your tax savings by dividing your transactions into business and personal categories.

In addition to this, the Receipt Scanner records and stores an image or PDF file of your receipts. To top things off, Lili can pre-fill your annual 1040 Schedule C form to save time before you send it to your accountant or file it with the IRS. Last but not least, it generates automated quarterly and annual expense reports so you can have an overview of your spending patterns.

Invoice Tools

Another advantage of Lili is the invoice tool set. It enables you to quickly create and edit unlimited invoices via the mobile app. Afterwards, you can send them to your clients to request for payments for your services or products. Aside from this, you can file and organize all the invoices you made to update your business records.

Mobile App

The Lili mobile banking app is free to download from the Google Play Store and Apple App Store. You can install it in your Android or iOS smartphones and gadgets. Aside from the mobile checking deposits, you can also make contactless payments through your mobile phone. Also, the app sends you push notifications so you can be aware whenever cash goes in or out of your business account.

Security

Lili takes measures to safeguard your funds in different ways. First, your account will be insured up to $250,000 via Choice Financial Group, the partner bank of Lili. Next, it protects the privacy of your data through industry-grade security encryption. Lastly, you can directly freeze and unfreeze your card via the mobile app if necessary.

Customer Support

One of the obvious drawbacks of Lili is the limited customer service. It doesn’t offer any phone or chat support, which means you can’t communicate in real-time with live agents. Instead, it only allows you to email the support team on weekdays, from Mondays to Fridays, and only during business hours, 9 a.m. – 7 p.m. EST.

Also, you can’t even send the message directly from the website since there’s no contact form. You must use your desktop or web email client to send an email. To make things a little better, there’s a help center where you can conduct self-research about basic information on Lili.

The Alternative Bank Sites to Lili Bank

Lili is an interesting choice if you need a multipurpose business account that won’t break the bank. Nevertheless, you can explore other alternatives if you have other banking needs that Lili doesn’t cover.

Kabbage

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Kabbage Review

Kabbage is a registered payment service provider that offers a free business checking account. It’s ideal for ambitious entrepreneurs who need loans to grow their venture. It presents flexible financing options for small businesses, which Lili doesn’t provide. Just keep in mind that you need to provide a personal guarantee when you apply for a loan.

Plus, Kabbage gives you the chance to earn 1.10% APY on balances up to $100,000 for the free account, unlike Lili which only gives interest for the paid account. Also, it allows you to accept payments via professional invoices, similar to Lili.

However, Lili is better than Kabbage when it comes to business management. After all, it comes with automated tools for tax filing and expense management, while Kabbage only provides how-to guides on these topics.

Pricing: Starts at $0/month

• Loan offers
• 1.10% APY for free account
• Invoice payment processing

• Personal guarantee required for loans
• Lack of tax optimization tools
• No automatic expense management

Novo

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Novo Review

Novo is a financial technology company that provides a free business checking account. It’s fitting for small business owners who want to integrate their business account with other productivity solutions.

On one hand, it connects to bookkeeping software like Quickbooks and online payment platforms like Stripe, compared to Lili which has built-in financial management tools instead. In addition to this, Novo specializes in ACH and wire transfers, while Lili focuses more on regular banking transactions.

On the other hand, Lili has an edge because it lets you deposit cash through partner retailers, unlike Novo. Aside from this, it gives you the chance to open an emergency savings account, while Novo is purely a checking account. Still, both Novo and Lili are equal when it comes to a lack of loan offerings.

Pricing: Starts at $0/month

• Strong third-party integration
• No monthly service fees
• Free ACH transactions

• No cash deposits
• Can’t open savings account
• No loans or credit lines

Oxygen

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Oxygen Review

Oxygen is a financial technology company that offers business and personal bank accounts. It’s suitable for enterprising entrepreneurs and freelancers who want to earn extra income through business banking.

All Oxygen business accounts grant you an APY and cashback rewards, while Lili only gives these benefits to users of the paid account. To top things off, Oxygen has daily phone and email support, in contrast to Lili that only includes weekday email assistance.

Nevertheless, Lili has an advantage over Oxygen because of its business management specialization. It has features like expense monitoring and tax savings, which Oxygen lacks. Also, the paid account of Lili is more cost-effective than the paid tiers of Oxygen.

Pricing: Starts at $0/month

• APY for all tiers
• Cashback rewards for all users
• Daily phone & email support

• No expense tracking tools
• No automatic tax savings
• Expensive rates for paid tiers

Bottom Line on Lili Review

Lili is an all-in-one business bank account that works well for sole proprietors and independent contractors. It’s an accessible option for you if you’re looking for a combination of competitive pricing, tax savings assistance, and expense management. As we conclude our review on Lili bank, it’s time for you to come to a conclusion if Lili is the best banking solution for you.

Best Business Bank Accounts by State

Below you will find an interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area.