Running an e-commerce store can be a lot of fun. The ability to reach customers with great products, while hopefully generating a healthy profit, is undeniably enticing.

As a business owner managing an already lengthy to-do list, choosing a bank account might not sound as exciting, but it can make a big difference to your business operations.

The right business bank account for Shopify store owners and other e-commerce professionals should strike a balance between low fees and helpful software integrations. In this article, we'll explore some of the top business bank account options available today.

Understanding Business Bank Accounts for E-commerce

Before we get to the top business checking account options, here are some key features to look for when picking out a business bank account:

• Fees: Fees can eat into your bottom line. As a business owner, seeking out an affordable bank account that suits your needs is a priority.
• Customer service: If you have a question about your banking experience, a responsive and helpful customer service team can make all the difference.
• Software integrations: If you own an e-commerce store, the software integrations tied to a business bank account matter. The right integrations can make your life so much easier.
• Account types: Some business owners would like to have access to different kinds of bank accounts, such as checking accounts, saving accounts, business credit cards, and more. If you know what types of accounts you are looking for in advance, you’ll be better off in the long term.
• Transaction limits: You’ll likely want a bank account with high transaction limits.

Best Business Bank Accounts for E-commerce: Top Picks

The following accounts contain many, if not all, of the features listed above, and make up our list of the top business bank accounts for e-commerce:

BlueVine

Bluevine has an attractive online checking account designed for small business owners looking for an efficient online banking platform. One of its standout features is the absence of monthly fees, which will come in handy for entrepreneurs looking to streamline their business finances without unnecessary costs.

In addition, Bluevine offers a competitive 2.00% APY on balances up to $250,000 for eligible customers. To access this benefit, you must meet specific criteria, such as receiving a minimum of $2,500 in customer payments each month or spending at least $500 monthly using the BlueVine Business Debit Mastercard. In other words, your account needs to be fairly active. The interest you earn can help boost your business's financial growth.

There are no transaction limits with Bluevine, and they also offer a line of credit, which can help e-commerce business owners manage their cash flow.

Learn more about Bluevine in our full review.

Grasshopper

Grasshopper distinguishes itself with its lightning-fast 5-minute application process for business checking accounts. This rapid sign-up experience is just the tip of the iceberg, as the account comes with several valuable features.

One standout is the provision for instant-issue virtual cards, which offers a secure and convenient spending option for account holders. Furthermore, the account boasts an impressive 2.25% APY on balances between $25,000 to $250,000. If you're balance is below $25,000, you'll still earn a competitive 1.51% APY, giving you with an opportunity to grow your savings. Another Grasshopper feature is the unlimited 1% cash-back offer.

Transactions are unlimited, and there are no monthly fees or minimum deposit requirements, making Grasshopper an excellent choice for businesses.

Learn more about Grasshopper in our full review.

Chase Business Complete Banking

The Chase Business Complete Banking account is another top choice. There is a $15 monthly fee, but there are several ways to have the fee waived. You can avoid the fee by maintaining a minimum daily balance of $2,000, receiving deposits totaling $2,000 or more through Quick Accept transactions within a month, making at least $2,000 in purchases using your Chase Ink Business credit card, or presenting proof of your military status.

One nice perk of the Chase Business Complete Banking account is that it's not an online-only bank. You can opt for in-person service via Chase's extensive network of branches at any time.

That said, Chase has robust online banking tools, ensuring that business owners can choose between managing their finances in person and online.

Learn more about Chase in our full review.

The Special Case of Shopify: What to Look for

If you have a Shopify store, you’ll need to find a bank account that is compatible. Shopify has specific requirements for bank accounts, which include:

• The account must be a checking account or current account that can receive transfers.
• The account must be eligible to receive payouts in a currency that Shopify supports for your country.
• The account must be eligible for ACH transfers.

Best Business Bank Accounts for Shopify: Top Picks

Let’s take a look at some of the top options for business bank accounts through Shopify.

Novo

Novo is an online banking platform designed with small business owners in mind. Novo stands out as a good choice for Shopify users because the account offers a software integration directly with Shopify, allowing you to streamline your business operations.

Novo enhances payment options by allowing users to connect their account to Stripe, Square, or PayPal. This means that you can receive payments through Google Pay, Apple Pay, Venmo, or credit card, making direct customer payments more manageable if you branch out from Shopify in the future.

Novo distinguishes itself by not charging any monthly fees for its checking account, providing a cost-effective banking solution for small businesses and LLCs.

It's important to note that Novo is a fintech and not a bank, so it's banking services are provided through a partnership with Middlesex Federal Savings.

Learn more about Novo in our full review.

AXOS Basic Business Checking

AXOS is an online bank that prioritizes straightforward and hassle-free online business banking with no monthly fees or minimum monthly balance requirements.

The free tier of AXOS includes numerous benefits, such as unlimited monthly transactions for deposits, transfers, ACH transactions, and more. You also get 2 free domestic wire transfers each month.

New customers to Axos can take advantage of up to $400 in welcome bonuses if they open an account using the promo code NEW400 and fulfill the required qualifying activities.

Learn more about Axos in our full review.

Relay

Relay offers a no-fee online business checking account for small business owners. Key features include the ability to open multiple accounts, facilitate ACH transfers, set up automatic recurring payments, and much more. What's particularly helpful is that you can use up to 20 sub-accounts, to earmark funds for things like taxes and payroll.

For businesses seeking more advanced accounts payable features, Relay also offers a Relay Pro-level, catering to those with additional requirements. Whether you opt for the free tier or prefer the enhanced capabilities of Relay Pro, the platform can help you optimize your business finances.

Learn more about Relay in our full review.

How to Choose the Best Business Bank Account for Your Ecommerce/Shopify Business

As you can see, there is no shortage of banking otions for e-commerce business owners. But you can only choose one. The following tips may help you decide.

• Understand what you need: Before you open a bank account, it’s helpful to get crystal clear about what you are looking for in a bank. Make sure the bank you land on offers the accounts you are looking for and the features you crave.
• Fees: Business owners often need to prioritize cost savings. As you look at bank accounts, keep a sharp eye on the fees involved.
• ACH transfers: Seamless Shopify payouts will only work out if you have a bank account that accepts ACH transfers. If possible, find an account that offers unlimited transactions without any fees attached.
• Integration: A handful of bank accounts, like Novo, offer a Shopify integration. That can streamline your business finances.

Final Thoughts

The right business bank account for your e-commerce business will vary based on your needs. But the good news is that there are many business bank accounts that can meet your needs. For a longer list of business banking options, check out these other top business checking accounts.