When you open a business checking account, it’s natural to look for benefits like a business debit card and a low fee structure. But did you ever consider that your business checking account could offer features designed to help grow, manage and streamline your business?

When it’s time to open or reassess your business bank accounts, see if your bank of choice offers these seven helpful features that go above and beyond the typical business checking experience.

1. Accounting Software Integration

It’s essential that you’re able to link your business checking account with your bookkeeping and accounting software of choice. To ease that link, some banks have made this integration a breeze with built-in functionality directly inside your account.

Look for banking or Fintech services that offer integration with software such as Mint, Quickbooks, Quicken, Xero and Wave:

  • Axos offers integration with Quickbooks.
  • Mercury offers integration with Quickbooks, MainStreet, Xero, GrowthLab, Pilot and Zeni.
  • Novo offers integration with Quickbooks and Xero.
  • Radius integrates with Mint, Quickbooks and Quicken.
  • TD Bank offers its proprietary online accounting platform.
  • If you’re a current Wave user, sign up to get in on their Wave Money launch, which integrates banking with bookkeeping.

Remember that the most important thing about any business accounting software is that you use it, perform regular reviews, and understand your business’s financial health so you know what it takes to grow.

2. ATM Fee Refunds

Sometimes even businesses need to grab cash on the go, but you don’t always have time to look for an ATM in your bank’s fee-free network. Thankfully, some challenger business banks are ready to meet you wherever your travels might take you with ATM fee refunds.

Banks and Fintech companies like Axos, BlueVine, Novo and Radius lead the way in unlimited ATM fee reimbursements.

3. Card Security Features

It’s one thing to have your debit card from your personal bank lost or stolen. It can be worse when your business debit card goes missing, as you need to protect funds that power both your business and payroll immediately.

Banking services like BlueVine offer business owners the ability to lock their debit card immediately if they think it’s gone missing, without going through the hassle of getting a whole new card number. If your card is really gone for good, you can, of course, get a new one, but, if it just slipped between the sofa cushions, you can unlock it and get back to business as usual.

4. Discounts and Deals

Free checks are nice, but what about real benefits from your business bank that will help your business save money and grow? Many online banks offer built-in promotional deals with partner brands that will help you both tighten the belt and expand your reach.

Look for business checking accounts that give customers extras that matter, such as savings with payroll providers, online advertising credits and customer service software enhancements.

Novo’s Perks page is a solid place to begin your comparison, as their robust set of extras for small businesses—including social advertising ad credits and free trial months for in-demand business needs like payroll services—remains top of the class.

  • BlueVine also offers lines of credit, so you can bank and borrow in the same place.
  • For tech startups, Mercury might be a checking and banking partner to consider with its perks, which include wide-ranging integrations with popular payroll partners, tax consultants, hosting services and more.
  • TD Bank gives businesses the benefits of a larger bank. It brings everything from payroll to lending, along with small business banking specialists (at no charge) to help you assess your financial options.

5. eCommerce and Payment Capabilities

If you sell anything online, you want payments to get to your bank account as quickly as possible. While many of the larger business checking accounts may have options for merchant services, these services require that you have a sales volume that supports all the setup costs and the bandwidth to manage all that comes with a third-party payment processing service.

To help streamline your payments, many of the upstart online business banks are showing up to play with built-in integrations with eCommerce and payment tools such as Shopify and Stripe.

For example, Shopify advertises a partnership with Wise Banking, the “all-in-one, all digital banking for the Shopify business owner,” which it says will get your money from sales to you faster than ever. Mercury humbly brags about seamless integration “with pretty much every U.S. payment processor.” And Novo offers integrations with both Shopify and Stripe, along with $20,000 in fee-free card processing through Stripe.

6. International Payment Enhancements

If you do business beyond U.S. borders, you’ll likely be dealing with currency exchange and international banking laws. You need a business bank that understands the nuances of sending and receiving funds from international clients—and one that doesn’t make you overpay for the pleasure.

Banks like Novo are paving the way with integrations with services that smooth the international payment process like Wise (formerly, TransferWise). With Wise, you can typically save money over banking currency conversion rates because Wise uses real-time conversion rates and guarantees your exchange rate for up to 72 hours, depending on the currency you’re sending from. If your business bank doesn’t offer a Wise integration, be sure to ask what their international wire charges are and look for payment solutions that make it easy for you to receive both credit card and banking payments without being charged an arm and a leg.

7. Invoicing

Perhaps you’ve been sending invoices directly from your accounting software. However, for businesses just getting started, wouldn’t it be nice to skip the payment service middleman and have your clients deposit payments directly in your bank account?

Banks such as Wise Banking and Novo offer invoicing features inside both their mobile apps and desktop versions. TD Bank offers invoicing through its proprietary online accounting platform. With additional features like in-app invoicing from your business checking account, you can kick the Paypal and Venmo habit and have a single point of contact (your bank) for both sending and receiving money. Mercury hits it out of the park with a respectable array of bookkeeping partners with built-in invoicing features.

Find The Best Business Checking Accounts Of 2024

Bottom Line

With all of the extras listed above, there’s no reason to settle for basic business checking. Unless you absolutely need the functionality of in-person services at a local branch, the above banks (which operate mostly online) can help you raise your game with integrations, partnerships and perks that can save you cash while pursuing smart growth.