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Best Business Checking Accounts in Oklahoma of 2024

Katie Stiner

Oklahoma has hundreds of options when it comes to choosing the best business checking accounts. To find the right account for your needs, shop around and compare the options before deciding.

Factors to consider when deciding include the account fees and minimum requirements. Most accounts come with various fees, including monthly maintenance fees and transaction charges. Look out for an account with low fees or with the option of waiving the fee if you meet certain requirements. Consider all the fees you are likely to incur on an account to keep down the costs.

Other factors to consider are the account benefits and perks. An account that can easily integrate with your business financial management software is ideal. Some banks offer access to various accounting tools to provide free cash flow analysis. Others provide a wide range of business tools and resources that you are most likely to need and use.

Also, consider the mobile and online apps that the banks offer. Ease of access to your business account makes it more worthwhile to have. It allows you to easily monitor your balance, transfer funds between accounts, pay bills, among others, at your own convenience.

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

Integrates with business software

$0

Monthly Fee

0%

Est. APY

Overview

Relay offers a simple two-tier pricing plan. You can get started with no monthly fees and no account minimums. When you upgrade to the Pro plan, you’ll benefit from additional features such as free domestic and international wire transfers, or the ability to auto-import bills from QuickBooks and Xero.

What we like

  • Streamlines bookkeeping
  • No monthly fees
  • No minimum balance requirement
  • Seamless software connections
  • Set spending limits for employees

What we don't

  • No sign-up bonus or rewards
  • No physical branches
  • No interest earned on balances

Manage funds with sub-accounts

$0

Monthly Fee

2.00%

Est. APY

Overview

Bluevine business checking comes with no monthly fees. Plus, the account provides an impressive list of benefits such as integration with online business tools, sub-accounts to help you manage your finances, and two free checkbooks.

What we like

  • Unlimited transactions
  • No monthly fees
  • High APY
  • Sub accounts for easier management
  • Integration with business tools

What we don't

  • No APY on balances over $100,000
  • International wire transfers not available
  • Cash deposit fee of $4.95

Process payments on mobile device

$15

Monthly Fee

0%

Est. APY

Overview

Chase Business Complete Checking comes with Chase QuickAccept which allows card payments to be processed on your mobile device, so you receive deposits the same day to help manage cash flow within your business.

What we like

  • In person customer support (except Alaska & Hawaii)
  • Process payments on your mobile device
  • No fee for electronic depositst
  • $15 monthly fee wavied with $2,000 min. balance
  • No minimum deposit to open account

What we don't

  • Limited fee free paper check transactions
  • Outgoing wire transfer fee of $15 - $50

Earn an APY on your balance

$10

Monthly Fee

1.01%

Est. APY

Overview

Axos Bank business interest checking account earns a competitive rate for cash held within the account, and you'll get your $10 monthly fee waived by holding a minimum balance of $5,000. If you keep a decent amount of cash in your account, this could be an ideal account.

What we like

  • Earns a competitive interest rate
  • Unlimited domestic ATM reimbursements
  • 50 free checks when opening an account
  • Low minimum deposit to open account
  • Complete digital experience

What we don't

  • Monthly $10 maintenance fee
  • Limited integration with business tools
  • Limited fee-free transactions per month

Optimizes taxes and accounting

$0

Monthly Fee

0%

Est. APY

Overview

Lili’s business checking account comes with features that help users keep their banking costs low, optimize their taxes, and manage their business’s finances.

What we like

  • FDIC insured, up to $250,000
  • Optimize taxes to pay less
  • Invoicing software included
  • No maintenance fees
  • Automatic transfers to emergency account

What we don't

  • No wire transfers
  • Interest on lili pro only

Connects with accounting software

$0

Monthly Fee

0%

Est. APY

Overview

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

Free unlimited transactions

$10

Monthly Fee

0%

Est. APY

Overview

NorthOne helps you manage your finances with its invoicing app, budgeting tool by creating an unlimited number of sub-accounts with the envelope functionality, and integrating with a suite of business tools and software.

What we like

  • Budgeting tool to help manage your finances
  • Smart integrations with business tools
  • Send invoices from the app
  • Low minimum deposit
  • No hidden fees
  • Unlimited transactions with no fee

What we don't

  • $10 monthly fee
  • No in persona customer support

Why do you need a business checking account?

Here are some of the main reasons why you need to get a business checking account:

  • Business bank accounts offer online banking: You can access your account anywhere at any time. This allows you to monitor your money, balances, and transactions while you are away from the office. It also means that you can move, transfer or make payments all in one place.
  • Online bill pay: With online bill pay, you can pay anyone on the internet or through an email address using a secure server system. This is convenient and simple for people who prefer to manage their finances with ease and convenience.
  • Security: Business checking accounts are safer because the money in the account is your company’s money. If you use a personal account to pay bills, vendors, and employees, your personal funds could be at risk if someone steals your information and writes bad checks.
  • Tax savings: Some business owners prefer to use their personal checking accounts for convenience, but then deposit their paycheck into their company’s business checking account. That way, they can deduct their entire paycheck on their taxes instead of just what they keep in their personal bank account.
  • Multiple check-writing privileges: With a business checking account, multiple people can write checks against the same account — although each check writer is subject to certain limitations on check writing. This can be useful for businesses whose employees have different roles or who handle different aspects of the company’s finances. 

What do you need to open a business checking account in Oklahoma?

If you are applying for a business bank account, you’ll need the following:

  • Employer Identification Number (EIN) from the IRS.
  • Your business name, address, and phone number
  • A copy of the government-issued identification (for example, Social Security Card
  • Articles of organization
  • Articles of incorporation
  • Other legal documents (such as licenses or permits)

Common business checking account fees in Oklahoma

Business checking account fees come in many forms and can vary by institution, so it’s important to be aware of the different types of fees before opening an account. Here’s a general overview of some common business checking account fees:

  • Minimum balance requirement: Some institutions may require you to keep a minimum amount of money in your checking account in order to avoid monthly service charges.
  • Account closing fee: If you decide to close your business checking account, you might incur a fee for the privilege.
  • ATM withdrawal fee: If your business checking account doesn’t offer free ATM access, expect to pay a fee every time you use an out-of-network ATM machine.
  • Overdraft fee: When you write checks or make purchases on your business account that exceed the amount of money currently available in your checking account, you’re typically charged an overdraft fee by the institution where the funds are held. Overdraft protection transfers can also result in fees if they go into effect.
  • Check order and stop payment fees: Your business checking account might charge you a small fee if you ask them to print more checks than they normally would or stop payment on one or more checks.
  • Monthly service fee: This type of fee can be charged in addition to the minimum balance fee for account maintenance.
  • Paper Statement Fees: Banks used to send physical statements out regularly, but now they usually only send them out if they’re requested. If you request for your statements to be sent by mail instead of downloading them online, expect to pay a fee for each request.
  • Teller fees: You can run into these fees if you visit a bank teller instead of using automated services like ATMs. The most common teller fee is $2 or so per transaction, but some banks charge as much as $5 per visit.
  • Outgoing wire fee: If your business processes a lot of outbound wires — payments made to third parties — you might have to pay a fee for each one. Wires can take days or even weeks for the recipient to receive and deposit; this means that funds aren’t available immediately for withdrawal and can impact cash flow.

How to choose the best business checking account in Oklahoma

When choosing a business checking account, there are several factors to consider before you sign up. Here are some of the most important ones;

  • Tiered Pricing: Tiered pricing is a common practice among banks and it works like this: the more money you keep in your account, the less you’ll be charged. For example, if your balance drops below the minimum threshold, the bank will charge a fee of $5 per month. If you maintain a higher balance, that fee can be reduced or eliminated completely. If this is a deal-breaker for you, find out how much you must keep in your account to avoid fees. Be sure to ask about any other fees that may apply to your specific business checking account so you know exactly what to expect each month.
  • Fees for additional services: Some banks may charge additional fees for services that may not apply to your business needs. For example, if you don’t make enough debit card purchases per month or don’t write enough checks, some banks will charge a monthly maintenance fee of $5-$10 per month. If these fees are too high for your budget, look for another bank.
  • Interest-bearing account: With a few exceptions, most checking accounts don’t pay interest. That’s not a problem if you use your money wisely and keep your balance fairly low. But if you’re using your business checking as a repository for excess cash, you could be losing out on potential interest income.
  • Mobile check deposits: It can be a hassle to make a deposit in person, especially if you’re running errands during the day or making multiple stops. Having to take the time to stop at multiple places just for banking can easily eat up an hour of your day when you need it most — for doing business!