Best Business Checking Accounts in Rhode Island of December 2021

Katie Stiner

Rhode Island is home to dozens of banks spanning from local to national institutions. If you are searching for a business checking account in Rhode Island, there is a wide range of available options.

When deciding on a business checking account, consider the services being offered. These include in-person, online and mobile banking services, check-writing capabilities, access to mortgages, lending, and related services.

Take note of account fees which may include monthly maintenance fees, transaction charges, and overdraft fees, and others. Search for accounts with low account fees or those that have the option to waive some of the fees if you meet certain requirements.

Also, consider the minimum balance requirements and transactional limits, if any. Some banks offer free deposits up to a certain number and eventually charge deposit fees once you have exceeded the limit. The same applies to withdrawals. Other banks limit the total amount of money you can transact and may apply a fee if you go beyond that amount.

Other factors to consider are the extra account perks and benefits. For example, the ease of integration with technology, such as accounting software.

We reviewed some of the available options to select our top picks for the best business checking accounts in Rhode Island.

Bank Novo Business Checking Account

bank novo logo


Monthly Fee


Min. To Open


Est. APY


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