Best Business Checking Accounts in New Mexico of August 2021

Katie Stiner

You have decided to open a business checking account and require some guidance on the best combination of features and account fees. WalletBrain has does the research for you and compiled a wide range of options available in New Mexico.

Different businesses have different banking needs. For your specific business, consider the services that meet your needs such as online and/or mobile banking, check-writing capabilities, overdrafts, and bill payment services.

Your next move should be to examine the account fees, account requirements, and limitations. Typical account fees include transactional fees, monthly maintenance fees, and overdraft fees. Compare the fee structures of the various accounts to find one with minimal costs. Keep in mind the minimum balance requirements, and transactional limits as these can give rise to additional fees.

Take advantage of the introductory offers and bonuses. For example, some banks may offer free transactions for a given period. Other banks offer cash bonuses. Also, take into consideration the free business tools and resources some banks may offer. These may include payroll processing services, accounting, and budgeting tools, to name a few.

Compare our top picks for the best business checking accounts in New Mexico to find the best match for you today.

Bank Novo Business Checking Account

bank novo logo

$0

Monthly Fee

$50

Min. To Open

N/A

Est. APY

Overview

Novo offers a free business checking account. It has no monthly maintenance fees or other recurring fees. The only fees charged are insufficient funds when sending checks or when a check is returned for insufficient funds. Incoming wires, domestic ACH transfers, ATMs, and paper statements are all free.

Novo allows easy integration with third-party accounting software, including Quickbooks and Xero. You can also link your Novo debit card to your Google Pay or Apple Pay Wallet. Novo also syncs with your Stripe processing account and easily integrates with Slack to get automated updates on your bank account.

If you are looking for a business checking account that is easy to use and with almost no fees, you might want to consider Novo. The bank account is also accessible in the app store for both iOS and Android devices.

What we like

  • Free ACH transfers, mailed checks, and incoming wires
  • Minimal fees and ATM reimbursements
  • Backed by FDIC insured
  • Integration with other apps
  • Doesn’t check your credit score

What we don't

  • No APY earned on your balance
  • No cash deposit
  • No outgoing wires or checkbooks

Account Fees & Information

  • Monthly Fee$0
  • Min. To Open$50
  • Min. Deposit For No Fee$0
  • Other Ways For No FeeN/A
  • Paper Statement FeeFree
  • Overdraft Fee$0
  • Negative Balance Fee$27
  • RewardsDiscounts on business tools
  • State RestrictionsNone

ATM & Debit Card

  • In-Network Domestic ATM Fee$0
  • Out-Network Domestic ATM Fee$0
  • ATM Owner Surcharge RebateOffered
  • Foregin ATM Fee1%
  • Debit Card Foregin FeeForeign fee from networks
  • Debit CardMastercard