Best Bank Accounts For eCommerce Businesses

Choosing bank accounts for eCommerce businesses can be a complicated process. With so many options available, not all of them might be an ideal fit for your business or include the best benefits that you would actually use.

For this reason, we have compiled a list of the best US bank accounts for eCommerce businesses in 2021. It goes without saying that all of the information provided was accurate at the time of writing, but certain rates or benefits may change over time. We also compiled a similar list of alternatives to Square for eCommerce businesses.

It would be impossible for us to give each of the following banks a rating as every business has different needs and priorities. Instead, we will highlight the best bank accounts we have managed to find and point out what made them make our list, and who they might be best suited for.

Plus, we have an exclusive offer from Brex that can earn you a free $250 Amazon gift certificate. Check out more in the Brex review below.

#1 Novo

Novo is an online bank that was built purely for business owners, freelancers, and entrepreneurs. You can tell that Novo was built with businesses in mind due to the wide array of integrations they have with market-leading software services and products.

Current integrations include:

  • Stripe
  • Shopify
  • Xero
  • QuickBooks
  • and more

Obviously, Novo does not have any physical locations so that should be a consideration if having a physical banking location is important to you. But because of this their online and mobile apps are some of the best out there as they are built to cover everything bank accounts for eCommerce would need to succeed.

Other features of a Novo Bank Account include:

  • Backed with FDIC insurance* (Through Middlesex Federal Savings)
  • No hidden fees
  • No monthly fees or minimum balance requirements
  • Simple, easy-to-use mobile apps
  • Apply in under 10 minutes
  • Human-powered customer service
  • Free transfers, mailed checks, and incoming wires
  • Refunds all ATM fees

As far as bank accounts for eCommerce businesses go, Novo also has an impressive array of perks for business owners. Including partnerships with Stripe, Google Cloud,, QuickBooks, HubSpot, and more. All together businesses have access to over $5,000 worth of savings.

For this reason, if you identify as a startup, small business, or freelance entrepreneur then Novo should definitely be on your radar.

#2 Mercury

Mercury is another online bank similar to Novo, but whereas Novo focused on the entrepreneur and freelance market, Mercury aligned itself more with startups and small eCommerce businesses.

Mercury has a dedicated eCommerce landing page and offers a whole host of integrations that would be desirable to eCommerce business owners.

Current integrations include:

  • Stripe
  • Shopify
  • Amazon
  • QuickBooks
  • Zapier
  • PayPal

When it comes to bank accounts for eCommerce Mercury offers two options to business owners. They have their standard free account and then they have something they call a Tea Room account.

For the standard free account, the features include:

  • Backed with FDIC insurance* (Through Evolve Bank & Trust)
  • Free account
  • No hidden fees
  • No monthly fees
  • No overdraft fees
  • Free transfers, checks and wires
  • Easy to use mobile app
  • Apply and get approved quickly

For larger businesses, such as those who have the ability to deposit $250,000 into their bank account they will be able to access Mercury Tea Rooms which come with a host of other benefits including access to exclusive Tea Room events, the Mercury Treasury, and also free tea once you join.

Similar to Novo, Mercury also offers an impressive range of perks for those with bank accounts, including deals from the likes of HubSpot, Xero, QuickBooks, AWS, Zendesk, and many more.

If you are looking for a bank account for eCommerce then Mercury should be on your shortlist.

#3 Chase Business Complete Banking

When talking about bank accounts for eCommerce it’s only fair that we cover one of the more familiar mainstream options and when comparing the national banking chains, it is hard to beat the business complete banking option from Chase bank.

This could be a great option for you if you prefer the security provided by a well-established and renowned national bank with the added bonus of physical locations nationwide.

Chase Business Complete Banking Features:

  • Multiple options to waive the Monthly Service Fee
  • Built-in card acceptance
  • Same-day deposits
  • Alerts of your account activity.
  • Chase Business online and the Chase Mobile® app.
  • Unlimited electronic deposits, ACH and Chase Quick Deposit.
  • Convenient access to 16,000 ATMs and more than 4,700 branches.

Unlike the other newer online and disruptive businesses, the Chase bank has the traditional fees, you have come to expect from business bank accounts. However, Chase does offer you multiple ways in which you can qualify to have the monthly service fees waived.

The other benefit of using an account with Chase is that everything is set up to work well with Chases’ other products, such as credit cards, lending solutions, and other merchant services. Because of these features the Chase Business Complete Banking account is very scalable and a good traditional option.

To find out more just click here.

#4 BlueVine

Next on our list is BlueVine which is another up-and-coming financial technology company that makes a great case when looking at bank accounts for eCommerce businesses. Like so many of the other online-only options, BlueVine deposits are covered by the FDIC.

Where BlueVine stands out is in two key areas. They are focused on the small business market and specifically have offerings perfect for small business loans as well as a very attractive interest rate for their checking account.

BlueVine features include:

  • Backed with FDIC Insurance* (Through The Bankcorp Bank)
  • No minimum deposit or balance
  • No monthly service fees
  • No ATM fees at 38,000+ MoneyPass® locations nationally
  • No fees for non-sufficient funds
  • Two free checkbooks
  • 1% interest on balance up to $100,000 (20x higher than average)
  • Easy to use mobile app
  • Dedicated phone & email support

With an interest rate of 1% compared to the national average of 0.05% BlueVine is a compelling option for those businesses who will hold up to $100,000 in their checking account and can have their money make money without any risk involved.

BlueVine also specializes in loans and when it comes to bank accounts for eCommerce businesses, they are one of the best options. They have options for Invoice Factoring, Line of Credit, and Paycheck Protection.

To find out more you can get started here.

#5 NorthOne

When covering these different bank accounts for eCommerce businesses we have tried to cover as many bases as possible for your different needs. Whilst NorthOne may seem similar to some of the other entries on this list as a new online bank, there is one key difference.

The difference being that NorthOne charges $10 per month as a flat rate. The monthly fee covers all of the usual bank charges except for wire transfers. The other benefit with NorthOne is it includes an impressive list of integrations for both eCommerce and accounting.

NorthOne Features Include:

  • Backed with FDIC Insurance* (Through The Bankcorp Bank)
  • No minimum deposit or balance
  • No commitment or contract
  • No charges for cash transfers
  • No charges for ACH payments
  • No charges for ATM withdrawals
  • Easy to use mobile app
  • Dedicated phone & email support

NorthOne also utilizes an interesting concept they call envelopes, which allows you to set up rules to automatically allocate your finances to different things in what could be called faux accounts. This could be very useful for tax purposes or recurring outgoings you know you will have every month.

As mentioned earlier when it comes to bank accounts for eCommerce, it is very beneficial for the accounts to have integrations with a variety of providers. NorthOne has integrations with Amazon, Shopify, PayPal, Stripe, Square, Etsy, Venmo, Quickbooks, and a whole host of others.

To find out more you can get started here.

#6 Brex

Brex may be our favorite on the list, however we might be biased as we have personal experience with using them. When it comes to bank accounts for eCommerce they once again tick all the boxes you would expect from a new disruptive online service.

One of the nicest things about Brex is that there are no monthly fees or transaction fees at all. This even includes transactions abroad with no fees for spending or sending your money worldwide. So, if you run a cross-border business this could definitely be a deal maker.

Brex Features Include:

  • Backed with FDIC Insurance* (Through The LendingClub Bank NA)
  • No minimum balance
  • No account fees
  • Free ACH & wires worldwide
  • Builds business credit
  • Unlimited users and cards
  • Easy to use mobile and web app
  • Free ATM withdrawals
  • Dedicated phone & email support

When it comes to integrations Brex might not have the same offerings as some of the other options, however, it covers all of the main accounting integrations such as QuickBooks, Xero, Expensify, and the major eCommerce integrations such as Amazon, Shopify, PayPal, Square, and Stripe.

Brex also has an incredible list of perks for account holders including AWS, Apple, QuickBooks, Google, and many more. Brex advertises partner perks worth over $150,000 which is an insane amount of value to new businesses.

If you are looking at bank accounts for eCommerce businesses, then you could do worse than check out Brex.

As mentioned in the introduction we can give you access to a special deal with a new Brex account where you can earn a free $250 Amazon gift card when you spend your first $1,000 through Brex.

To get your hands on the FREE Amazon $250 gift card, please sign up using this link here.

The Bank Account For eCommerce Business Conclusion

As you can see there are a number of really impressive and appealing bank accounts for eCommerce. It would be impossible for one size to fit every business which is why we have tried to give you what we think are the best options for different needs.

As always, we urge you to do what makes sense for your business, whether that be a need for a physical location bank or free global transfers. The list of bank accounts for eCommerce above gives you plenty of options to find the right fit for you and your business.

*Note* We use the term bank account to also include the online options listed above, however for legal reasons many of them do not meet the criteria to be ‘bank accounts’ in the eyes of the SIPC and instead identify as financial technology companies.

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