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Many freelancers and independent professionals get by without a separate business bank account. They commingle their personal and business funds on the reasoning that it all ends up in the same place eventually.

To the extent that this happens because self-employed folks without serious business chops feel overwhelmed by the idea of separating business and personal finances, it shouldn’t. Not with small-business and freelancer-friendly business banking options like nbkc Free Business Checking.

With no minimum balance requirements or monthly fees, nbkc Free Business Checking is designed for value-conscious entrepreneurs. While it’s nowhere near perfect, it’s worth considering if the alternative is a messy status quo.

What Is nbkc Free Business Checking?

nbkc Free Business Checking is a small-business checking account with no monthly fee, no minimum balance requirement, and FDIC insurance up to statutory limits.

nbkc Free Business Checking has some other features worth noting, including free overdraft coverage, free domestic wire transfers, a Mastercard debit card, a generous ATM surcharge allowance, and robust mobile capabilities. However, it has no debit card rewards program and doesn’t pay interest on balances. It lacks some nonbanking features that many similar accounts offer, such as custom expense tracking and built-in invoicing.

What Sets nbkc Free Business Checking Apart?

nbkc Free Business Checking stands out from other small-business bank accounts for several reasons:

• Very few fees. This account has no monthly fee, no overdraft fees, no wire transfer fees, and very few of the less-common fees other bank accounts typically charge.
• No minimums or transaction limits. nbkc Free Business Checking has no minimum balance requirements and no limits on transaction count or value. Many other business checking accounts impose such limits, which can be costly and inconvenient.
• Generous ATM surcharge reimbursement. nbkc reimburses up to $12 in out-of-network ATM surcharges each month. That should be plenty for most users. 
• No rewards. One notable downside of this account is its total lack of a debit card rewards program. As more business accounts offer returns on debit card spending, this omission looms ever larger.

Key Features of nbkc Free Business Checking

nbkc Free Business Checking has all the features you’d expect from a basic business checking account, and few extras beyond that.

Account Fees & Minimums

There’s no minimum balance to open or maintain your account. There’s also no monthly maintenance fee and very few fees for other account activities.

Account Yield

This account pays no interest on any balances. Nbkc has no business savings account either, leaving  no way to earn interest on business balances.

Debit Card & ATM Access

This account comes with a Mastercard debit card that works at millions of in-person and online points of sale worldwide. 

As part of the MoneyPass network, nbkc offers fee-free withdrawals at tens of thousands of ATMs across the United States. Out-of-network ATM withdrawals may incur fees that nbkc can’t control, but nbkc reimburses them up to $12 per monthly statement cycle.

Overdraft Coverage

nbkc Free Business Checking offers complimentary overdraft coverage at its discretion. If the bank allows an overdraft transaction to go through, it charges no fee for the privilege. However, nbkc reserves the right to deny overdraft transactions at its discretion, also with no fee.

Mobile Features

nbkc’s mobile app has solid ratings from verified users in the Apple App Store and Google Play marketplace. It shares its core functions and capabilities with the desktop banking interface:

• Remote check deposit
• Person-to-person payments
• Scheduled and one-time bill payments
• Expense tracking
• Viewing and managing statements

Deposit Insurance

This account comes with federal deposit insurance up to the current limit of $250,000. If nbkc goes out of business, the FDIC steps in to ensure you lose nothing below this amount.

Pros & Cons

nbkc Free Business Checking is a straightforward small-business bank account with some clear advantages and some equally notable downsides.

Pros

nbkc Free Business Checking is affordable, easy to understand, and easy to use.

• No monthly fee. This account charges no monthly fee, no matter how little (or how much) you keep in your account. This is excellent news for budget-conscious freelancers and small-business owners.
• No minimums. There’s no minimum deposit or ongoing balance required to keep this account in good standing. Again, that’s good news for users without lots of cash to spare.
• No transaction limits. Unlike some business bank accounts, nbkc Free Business Checking has no upper limit on transaction volumes. This is good if your business makes or receives lots of small-dollar transactions each month.
• Generous ATM fee reimbursement. nbkc reimburses up to $12 in out-of-network ATM fees each statement period. That’s in addition to free withdrawals at tens of thousands of MoneyPass ATMs around the country.
• Free overdraft coverage. nbkc charges nothing to process overdraft transactions. Though it may decline these transactions on a case-by-case basis, there’s no nonsufficient funds fee associated with a denial either.
• Comprehensive mobile app. nbkc has a straightforward, easy-to-use mobile app that replicates the traditional online banking interface in a smaller format. Some competing business bank accounts are unacceptably clunky or feature-poor on mobile.

Cons

Nbkc Free Business Checking isn’t particularly rewarding and lacks some of the potentially valuable business capabilities available from some similar accounts.

• No interest on balances. This account pays no interest on balances. If you want to earn a return on your company’s emergency savings fund or any other funds you don’t need right away, you’ll need to open a savings account with another bank.
• No debit card rewards. nbkc has no debit card rewards program. In other words, there’s no return on spending here, unlike at many competing business banks.
• Few nonbanking features. nbkc Free Business Checking is a very basic bank account. It has few useful nonbanking features, such as built-in invoicing, tax management, or accounting (beyond basic expense categorization).

How nbkc Free Business Checking Stacks Up

nbkc Free Business Checking competes against dozens of other small-business checking accounts, each with its own unique mix of features and capabilities. One of its top competitors is the NorthOne Deposit Account, a more expensive and more capable option for growing businesses.

With no monthly fee and a generous ATM reimbursement allowance, nbkc Free Business Checking is ideal for small, budget-conscious freelancers and business owners who don’t ask much more of their business accounts. NorthOne is a better fit for entrepreneurs who need more features and services.

Final Word

nbkc Free Business Checking is an easy-to-use business bank account that’s even easier to understand. If you’re a freelancer or self-employed individual with straightforward business finances and no need for bells and whistles, it’s a reasonable choice — though not quite the best in the category.

If your financial needs are more complicated or you’re planning to grow your business in the coming years, nbkc Free Business Checking probably isn’t powerful enough for you. Fortunately, other business bank accounts are.