Discover the best no ChexSystems banks offering hassle-free business accounts. Compare features, fees, and perks to find your perfect fit.
A negative ChexSystems report can make getting approved for a business account challenging and it may take up to five years for the record to be removed. While you’re working to resolve issues on your ChexSystems report, you can apply for a business account with one of the providers on our list of the best business accounts that do not use ChexSystems.
The table below shows the top factors I considered when evaluating the five best business accounts with no ChexSystems.
| Our rating (out of 5) | Charges monthly fees | Annual percentage yield (APY) | Issues free monthly transactions | Allows free cash deposit | |
|---|---|---|---|---|---|
| Bluevine Standard | 4.48 | No | Yes | Yes, unlimited | No |
| Wells Fargo Navigate Business Checking | 4.37 | Yes; waivable | No | Yes | Yes |
| Capital One Basic Checking | 4.20 | Yes; waivable | No | Yes, unlimited | Yes |
| Mercury Business Checking | 4.16 | No | No | Yes, unlimited | No |
| Novo Business Checking | 3.93 | No | No | Yes, unlimited | No |
Our rating: 4.48 out of 5
Bluevine is a highly reputable fintech company that offers competitive high yields through a fee-free business checking account. Unlike most checking products, which typically do not earn an APY, Bluevine’s account stands out as an excellent choice. Additionally, they provide one of the best lines of credit available, featuring low interest rates.
Bluevine is also among our top picks for the best international banks for businesses, thanks to its quick overseas payment options and transparent pricing. Small businesses can take advantage of its integrations with various financial platforms, which include QuickBooks, Xero, CashApp, Venmo, and Square.
Bluevine Standard is my best overall business account with no ChexSystems because it has no monthly maintenance fee, initial deposit, or minimum balance requirement. Additionally, users can earn an APY of 1.3%
Account holders can also enjoy unlimited transactions, free standard ACH services, and no fees for incoming domestic wire transfers. As your business grows, I recommend shifting to Bluevine’s higher-tier plans, which offer even higher APY rates and reduced standard payment fees.
| Take advantage of Bluevine’s free one-month trial for an upgraded plan. With this trial, you can earn higher APY rates without having to meet any conditions. Enjoy discounted bill payments, and you'll have the option to switch back to the free plan once the trial period ends. |
|---|
Visit Bluevine
| Pros | Cons |
|---|---|
| No monthly maintenance fees or balance minimums for Bluevine Standard. | $2.50 for non-network ATM use, plus third-party operator fees. |
| APY rate of 1.3% for a free plan. | No ATM fee refunds. |
| Fast account application approval. | No savings products. |
Our rating: 4.37 out of 5
Wells Fargo is a well-recognized institution that offers full-service banking. This includes three business checking accounts with fees that can be waived. The lowest tier, Initiate Business Checking, requires an initial deposit of $25 and includes 100 free transactions along with up to $5,000 in free cash deposits. The monthly fee of $10 can be waived by maintaining a daily balance of $500 or an average ledger balance of $1,000.
With a large branch network in Washington, D.C., and 36 states
If you’re looking for a business bank account with no ChexSystems, Wells Fargo is a solid pick because they have many physical locations, which is convenient for small businesses that require in-person banking. They allow a high cash deposit limit of $5,000 for cash-reliant small businesses, and you can waive the monthly fee by maintaining a minimum balance of $500.
I appreciate the wide range of business products available at Wells Fargo, making it easy to apply for savings accounts, financing, and credit cards all in one reputable institution. Additionally, the bank offers personal second-chance accounts to help you rebuild your credit.
Visit Wells Fargo
| Pros | Cons |
|---|---|
| Easy-to-waive monthly fee for basic accounts. | No free incoming wires for basic accounts. |
| More than 4,500 branches. | $2.50 nonnetwork ATM fee. |
| 12,000 ATMs available nationwide. | No APY for low-tier checking |
Our rating: 4.20 out of 5
Capital One is a traditional bank that stands out for offering fee-free and unlimited digital transactions. The monthly fee for the Basic Checking account can be waived if you maintain an average monthly balance of at least $2,000 within a 30- or 90-day period. Additionally, there is no requirement to keep a minimum balance or to make an initial deposit.
Capital One suits cash-reliant businesses, as it has over 700 branches and allows free cash deposits of up to $5,000 per month. You can also access Capital One, MoneyPass, and Allpoint ATMs without any fees. Furthermore, the bank offers a comprehensive range of services, including savings accounts, lending options, business credit cards, and merchant services across various industries.
I chose Capital One because many banks limit the number of free transactions you can make. However, Capital One allows you to save on fees by offering unlimited free digital transactions, including mobile deposits, ACH payments, and online bill payments. You can also deposit cash for free
Additionally, like Wells Fargo, Capital One provides a second-chance checking account for personal banking. This account gives individuals with poor banking or credit histories the opportunity to better manage their finances.
Visit Capital One
| Pros | Cons |
|---|---|
| Unlimited and fee-free digital transactions. | No interest earnings for checking accounts. |
| No opening deposit and required balance minimums. | No free wire transfers. |
| Up to $5,000 cash deposit allowance for a basic account. | No signup bonus. |
Our rating: 4.16 out of 5
Mercury is an excellent choice for a business checking account without ChexSystems. It offers a largely fee-free account with no opening deposit, monthly fees, minimum balance requirements, or wire transfer fees. Mercury particularly supports startups by providing venture debt financing, simple agreements for future equity (SAFEs), and various investor programs.
I included Mercury in our list of the best online business bank accounts because it offers a range of startup solutions that facilitate networking, fundraising, and mentorship opportunities for investors. Additionally, it provides business owners with seamless financial services through integrations with QuickBooks, Xero, Stripe, Square, and PayPal.
Mercury’s Business Checking account is ideal for new companies looking to attract investors. I like its focus on providing startup services and simplifying business operations with automated accounting options, which can save business owners a great deal of time.
Founders can also feel secure knowing that their company funds are protected by up to $5 million in FDIC insurance
Visit Mercury
| Pros | Cons |
|---|---|
| Unlimited transactions. | Unsupported cash deposit. |
| No monthly fees or opening deposits. | Cannot open sole proprietorship and trust accounts. |
| No wire transfer fees. | Checking and savings accounts do not bear interest. |
Our rating: 3.93 out of 5
The Novo business checking account is a great option for eCommerce business owners. It has no monthly fees, opening deposit, or balance minimums. You can enjoy unlimited transactions and free inbound domestic wire transfers.
Novo stands out with its quick processing of Stripe payments through Novo Boost, allowing small business owners to access their funds immediately. Additionally, it offers fast payments via Express ACH and low-fee international transactions, thanks to its partnership with Wise. For these reasons, Novo is featured in our roundup of the best small business checking accounts.
Novo is one of my top choices for no credit check business accounts due to its impressive features. It offers fast Stripe payouts, ATM fee reimbursements, a funds allocation tool, and free invoicing. Additionally, you can enhance your business operations with its integrations with QuickBooks, Xero, Square, eBay, and Etsy. Additionally, Novo reimburses ATM fees up to $7 per month, helping you save on ATM transaction fees.
Visit Novo
| Pros | Cons |
|---|---|
| Up to $7 monthly ATM fee refunds. | No APY. |
| No opening deposit or monthly fee. | Cash cannot be deposited directly. |
| Can receive payments faster via Novo Boost. | No savings products. |
While it is possible to open a business checking account without a ChexSystems report, it is still important to address any negative entries on your report. Here are the steps you can take to resolve issues with your ChexSystems report:
Once your negative ChexSystems report is cleared, you can proceed to open a bank account at any financial institution of your choice. Before opening an account, see our article on how to open a business bank account to learn the step-by-step process.
I visited the websites of various financial institutions to check if they offer business checking accounts with no ChexSystems. Some institutions provide second-chance bank accounts that can help individuals rebuild their banking history.
I reviewed providers based on the following criteria and explored each of their websites to learn about their current offerings. After that, I assigned a rating to each provider and ranked them in our buyer’s guide.
To begin, check whether a financial institution uses ChexSystems before applying for a business bank account. However, note that some providers may use different systems, such as the Early Warning System (EWS) or TeleCheck services, to assess risks during the account opening process.
Look for a no-ChexSystems bank that offers business accounts with minimal fees, unlimited transactions, and options for cash deposits. Ensure the account features align with your business needs, and consider the quality of customer service. If you prefer in-person banking, choose a bank with a good number of physical branches.
Yes, you can rebuild your ChexSystems report with a no-ChexSystems business account. By settling your debts, you can request an updated report to help clear your negative ChexSystems record.
Overdraft protection varies by bank or financial institution. Some no-ChexSystems banks may offer this feature, while others, particularly those with second-chance accounts, may not.
Generally, there may not be significant differences between a no-ChexSystems business account and a regular one. However, when opening a second-chance bank account, some providers may charge a non-waivable monthly maintenance fee and may not allow overdrafts.
Robi Mansueto brings over a decade of experience in consumer and preferred banking, with expertise in investment services, client relationship management, and financial product sales. She has held key roles at the Bank of the Philippine Islands and CIMB Securities (Singapore), where she managed high-net-worth clients and oversaw investment, loan, and securities transactions. With a strong background in client onboarding, compliance, and risk management, Robi has ensured strict adherence to regulatory standards throughout her career.
