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Business checking: fees and how to avoid them

Direct answer: At the big banks we checked, a basic business checking account costs $15 or $16 a month unless you keep a minimum balance or meet an activity rule: $2,000 minimum daily balance at Chase and Wells Fargo, a $2,000 average at Capital One, and $5,000 average or $500 debit spending at Bank of America.

By the numbers: Bank of America charges no monthly fee on Business Advantage Fundamentals Banking for the first 12 months, then $16 unless you meet one of its waivers. Source: Bank of America, read Oct. 20, 2026

“Deposits held in the name of a validly formed corporation, partnership, or unincorporated association are insured separately from the personal deposits of the owners or officials of the organization.” — FDIC

Updated 2026-10-20

Quick Q&A

How do I avoid the Chase Business Complete Checking fee?

Chase charges $15 a month and waives it if you meet any one of these each statement period: a $2,000 minimum daily ending balance, $2,000 in eligible Chase QuickAccept or Payment Solutions deposits, $2,000 in eligible Chase Ink purchases, a linked Chase Private Client or similar account, or Chase Military Banking.

How do I avoid the Bank of America business checking fee?

Business Advantage Fundamentals Banking has no monthly fee for the first 12 months. After that the $16 fee is waived with a $5,000 combined average monthly balance in linked business accounts, $500 in new net business debit card purchases, or Preferred Rewards for Business.

How do I avoid the Wells Fargo Initiate Business Checking fee?

Wells Fargo charges $15 a month unless you keep a $2,000 minimum daily balance, a $5,000 average combined business deposit balance, or own a Premier Checking or Private Bank Checking account. It takes $25 to open.

Is my business bank account FDIC insured separately from my personal account?

If your business is a corporation, partnership or unincorporated association engaged in an independent activity, yes: the FDIC insures it up to $250,000, separately from the owners' personal deposits. A sole proprietorship or DBA account is not separate: it is combined with the owner's other single accounts at that bank.

Do consumer protections apply to business accounts and business credit cards?

Mostly not. Regulation E's error and unauthorized-transfer rules cover accounts set up primarily for personal, family or household purposes. For business credit cards, the OCC says the Truth in Lending Act applies only in limited ways: no unsolicited cards, and an employee cardholder's liability for unauthorized use is generally capped at $50.

As of Oct. 20, 2026

Jump to: Fee calculator · Fees table · Protections · Sources

Best pick: which business checking account

Pick the account whose fee waiver you'll meet without thinking about it. If your balance never drops below $2,000, Chase, Wells Fargo and Capital One all waive their $15 fee. If your balance swings but you use a debit card, Bank of America waives its $16 fee at $500 a month in debit purchases, and charges nothing for the first 12 months. If you're a corporation or LLC with more than $250,000, remember that FDIC coverage is per bank, so it can make sense to split deposits.

The math:

$1,500 lowest / $3,000 average / $300 debit, after year one: Chase $180; Bank of America $192; Wells Fargo $180; Capital One $0 in fees over 12 months.
$2,500 lowest / $4,000 average / $0 debit, after year one: Chase $0; Bank of America $192; Wells Fargo $0; Capital One $0 in fees over 12 months.
Monthly fees: Chase $15, Bank of America $16, Wells Fargo $15, Capital One $15. A $15 fee you never waive is $180 a year.

Sources: Chase business fee schedule · Bank of America · Wells Fargo · Capital One · FDIC: business entities

A best fit for the situation described, not financial advice or a buy/sell recommendation. Partner links never change a pick.

Your roadmap

Get your EIN and formation papers ready: the banks ask for business documents when you open the account (Wells Fargo lets you provide them later when you apply online).
Look at last year's lowest and average balances and put them in the calculator below.
Pick the account whose waiver you'll meet, and set a low-balance alert just above that line.
Check FDIC coverage if you'll hold more than $250,000: FDIC / NCUA coverage checker.
Next step: compare business credit cards, or see what Ink points are worth on points value.

Which account would charge me a fee?

Lowest balance in a typical month ($)Average balance in a typical month ($)Business debit card purchases per month ($)Is this a new account?

Business checking fees and how to avoid them

Bank	Account	Monthly fee	How to avoid it	Source
Chase	Business Complete Checking	$15	Any one: $2,000 minimum daily ending balance; $2,000 in eligible Chase QuickAccept/Payment Solutions deposits; $2,000 in eligible Chase Ink or Sapphire Reserve for Business card purchases; a linked Chase Private Client / JPMorgan Classic / Private Client Checking Plus account; or Chase Military Banking. First two fees waived or refunded on new accounts.	Chase · Chase business fee schedule
Bank of America	Business Advantage Fundamentals Banking	$16	No fee for the first 12 months. After that, any one: $5,000 combined average monthly balance in eligible linked business deposit accounts; $500 in new net qualified purchases on the business debit card; or Preferred Rewards for Business.	Bank of America
Wells Fargo	Initiate Business Checking	$15	Any one: $2,000 minimum daily balance; $5,000 average combined business deposit balance; or owning a Wells Fargo Premier Checking, Private Bank Checking or Private Bank Interest Checking account. $25 to open.	Wells Fargo
Capital One	Basic Checking (business)	$15	Waived if your prior 30- or 90-day balance averages $2,000 or more.	Capital One

Fees as each bank published them on Oct. 20, 2026. Cash deposit, wire and per-item fees vary; see each bank's fee schedule.

What's different for business accounts and business cards

FDIC insurance: a corporation, partnership or unincorporated association that's engaged in an “independent activity” is insured up to $250,000 at each bank, separately from its owners' personal deposits (FDIC: business entities).
Sole proprietors (DBA): the FDIC treats the account as the owner's own single account, added to the owner's other single accounts at the same bank for the $250,000 limit (FDIC: sole proprietors).
Unauthorized transfers: Regulation E's consumer rules cover accounts “established primarily for personal, family, or household purposes”, so business accounts depend on the bank's agreement. Read it, and turn on alerts (Reg E 1005.2).
Business credit cards: the OCC says the Truth in Lending Act applies only in limited ways: banks can't send business cards you didn't ask for, and an employee cardholder generally can't be held liable for more than $50 of unauthorized use (OCC: business cards).

Fees change. These are the banks' published terms on the date shown, not an offer. Your account agreement and fee schedule are what count. Not legal or tax advice.

Sources & as-of dates

Chase: Business Complete Banking (read Oct. 20, 2026; checked 2026-10-20)
Chase: Additional Banking Services and Fees for Business Accounts (PDF) (read Oct. 20, 2026; checked 2026-10-20)
Bank of America: Business checking accounts (read Oct. 20, 2026; checked 2026-10-20)
Wells Fargo: Initiate Business Checking (read Oct. 20, 2026; checked 2026-10-20)
Capital One: Basic Checking (business) (read Oct. 20, 2026; checked 2026-10-20)
FDIC: Corporation, Partnership and Unincorporated Association Accounts (read Oct. 20, 2026; checked 2026-10-20)
FDIC: Single Accounts (incl. sole proprietorship / DBA) (read Oct. 20, 2026; checked 2026-10-20)
12 CFR 1005.2 (Regulation E definitions) (read Oct. 20, 2026; checked 2026-10-20)
OCC HelpWithMyBank: Does the Truth in Lending Act apply to business credit cards? (last reviewed Apr. 2021; checked 2026-10-20)

FAQ

How do I avoid the Chase Business Complete Checking fee?

How do I avoid the Bank of America business checking fee?

How do I avoid the Wells Fargo Initiate Business Checking fee?

Is my business bank account FDIC insured separately from my personal account?

Do consumer protections apply to business accounts and business credit cards?

Estimates, not financial advice. Taxes, insurance, PMI and fees vary by lender, county and city; confirm with your lender, dealer and state agency before acting.