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Best Banks for E-commerce Businesses

Written by Banks Editorial Team
8 min. read
Written by Banks Editorial Team
8 min. read

Every business requires a bank to manage its finances efficiently. Whether you’re running a startup or a multi-million dollar eCommerce business, choosing the right bank is crucial. 

You need a bank that’ll not only simplify your finances but one that provides tools that can help your business grow. However, with several business bank accounts in the market, determining which bank best fits your needs can be challenging.

For this reason, we’ve compiled a list of the best banks for eCommerce businesses. We’ll explore their services, fees, security, and other aspects to help you make an informed decision. You’ll also learn about the things to consider when choosing the best business checking account for your eCommerce.

Let’s dive in!

Business Banking Solutions

Want a better business banking solution for your business? Discover how Found business banking helps freelancers and small business owners.

A superior banking experience for self-employed workers who want the best financial tools and no-stress taxes.

Learn about Lili, a banking solution for small business owners to manage finances and payments, control expenses and save money for taxes.

A banking solution for small business owners to manage finances and payments, control expenses and save money for taxes.

Learn how Novo provides powerfully simple business banking for small business owners through its free business checking bank accounts.

Novo provides powerfully simple business banking for small business owners through its free business checking accounts.

What is an E-commerce Business?

An eCommerce business is a company that buys and sells goods and services over the internet. In other words, it’s a business model that allows customers to browse, select, and pay for products or services online. 

E-commerce businesses can range from small retail shops to large multinational corporations, and they typically operate through websites, mobile applications, or social media platforms. 

The growth of e-commerce has transformed how businesses operate, offering a convenient and accessible platform for entrepreneurs to reach a global audience and streamline their operations. 

Some Examples of E-commerce Businesses

Several businesses have made it big in the eCommerce industry. Some of them include Amazon, eBay, and Etsy. E-commerce businesses fall into various categories, including:

  • Online marketplaces: These websites facilitate the buying and selling of goods and services between merchants and customers. Examples of online marketplaces include Amazon, eBay, Walmart, Upwork, and Fiverr.
  • Digital products: Businesses that sell digital products, such as software, music, and videos, fall into this category. Examples include Netflix, iTunes, and Udemy.
  • Subscription services: These businesses offer subscription-based services, such as online streaming platforms like Spotify and Hulu or subscription boxes like Birchbox and Dollar Shave Club.
  • Dropshipping: These businesses sell products without keeping an inventory. Products are shipped directly from the supplier to the customer. Examples of dropshipping companies include Oberlo and Spocket. 

Are There Banks Specifically for E-commerce Businesses?

While there are no banks specifically designed exclusively for e-commerce businesses, there are financial institutions catering to the unique needs of e-commerce businesses. 

These banks understand the specific challenges that e-commerce businesses face, such as the need to process a high volume of transactions, manage cash flow, and secure payment processing solutions.

Some traditional banks and fintech companies offer eCommerce-specific financial solutions. However, it’s important to research and compare the best banks for eCommerce businesses to find the one that fits your needs.

Does Your E-commerce Business Need a Bank?

Yes! You should choose the best bank for your eCommerce business to manage your finances effectively and provide a secure payment gateway.

A bank provides a secure and convenient way to manage your business’s financial activities, including tracking cash flow, paying suppliers, and managing payroll. In addition, a dedicated business bank account lets you keep your personal and business finances separate, which is vital for accounting and tax purposes.

Things to Consider When Choosing the Best Bank for E-commerce Businesses

With several banks in the market, choosing the best bank for an eCommerce business can be overwhelming. Here are important factors to consider when shopping for the best bank for your business.

Your Business Needs

The first thing to keep in mind when shopping for a bank is your business needs. Understanding your needs can help you choose the right bank. For example, startups usually look to keep costs at a minimum, so free business checking accounts may be helpful. On the other hand, more established companies may go for major banks to maintain their reputation. 

Not all banks are created the same. That’s why you should keep your needs at the forefront. By doing this, you’ll be able to find a bank that meets your different needs. 

Fees and Pricing

Most business bank accounts charge monthly maintenance fees, ATM fees, non-sufficient fund fees, and other incidental fees. However, some banks may waive these fees if you meet certain requirements, such as maintaining a minimum daily or monthly balance or setting a specific number of deposits per month. 

If you want to save as much money as possible on your business banking, consider online-only banks, as they don’t charge monthly fees.

Make sure you read the fine print of the bank’s fees and pricing beforehand. When in doubt, request a full schedule of fees before opening an account.

Convenience and Ease-of-use 

The best bank for eCommerce businesses is one that’s easy to use and offers convenience. Does it have online banking or a mobile app? What are other users saying about the bank? Read reviews from previous customers to get insights into the bank’s mobile app user experience. 

Transaction Speeds and Limits

Many banks impose transaction limits on business checking accounts. You may have to pay a small fee if you exceed that limit. Depending on your business transaction needs, considering how fast you can transfer funds and to what limit is crucial. 

You don’t want to bank with a bank that will bring your operations to a halt because you’ve hit your daily transaction limit.

If you know you conduct higher volumes of transactions, look for a bank that allows unlimited transactions to avoid fees.

Global Accessibility

Being able to access your business checking or savings account from anywhere is a crucial thing to consider when choosing a bank for your eCommerce business. If you want to manage your finances on the go, make sure you can access online and mobile banking.

Having 24/7 access to your bank account helps you keep tabs on your business finances and provides easy access to funds to help with the everyday running of the business. 

Payment Integrations 

Running an eCommerce business requires more than just a standard business bank account. You need a bank that can integrate your other business software systems. For example, integrating accounting software like QuickBooks, Wave, or Expensify into your business bank account is crucial.

Before settling on a specific bank, find out whether you can sync your existing business software. The more software and tools you can sync, the more you can streamline your business finances.

Access to Business and Reporting Tools

A business bank that offers access to business and reporting tools can make it easier to run a business. For instance, a business checking account may have bookkeeping features that automate profit and loss statements and income and expense reports.

Business Banking Solutions

Want a better business banking solution for your business? Discover how Found business banking helps freelancers and small business owners.

A superior banking experience for self-employed workers who want the best financial tools and no-stress taxes.

Learn about Lili, a banking solution for small business owners to manage finances and payments, control expenses and save money for taxes.

A banking solution for small business owners to manage finances and payments, control expenses and save money for taxes.

Learn how Novo provides powerfully simple business banking for small business owners through its free business checking bank accounts.

Novo provides powerfully simple business banking for small business owners through its free business checking accounts.

The Best Banks for E-commerce Businesses

With various banks in the market, choosing one can be overwhelming. That’s why we’ve done the work for you. Here are our top picks of the best banks for eCommerce businesses. 


Found is the new kid on the block to a crowded field of the best banks for eCommerce businesses. Launched in 2019, Found is an online bank for the self-employed and freelancers. 

Found’s business checking account has built-in invoicing to save you time. You can customize your invoices to reflect your brand. For instance, you can add your company logo and a personal note. The invoices you send using the Found app can be paid via ACH, PayPal, Zelle, Venmo, and Stripe.

What’s more, Found has integrated bookkeeping tools that can make your work easier by automatically categorizing expenses when you use your business debit card. Plus, you can snap receipts on the go to keep your records. 

Another feature that Found outshines other banks for eCommerce businesses is the availability of automated tax planning tools. Tax planning can be challenging for self-employed individuals and entrepreneurs alike. Found simplifies the process by providing estimated taxes as you earn and spend and automatically separates your tax bill. 


Novo is a financial technology company that offers a free business checking account ideal for small business owners. With no monthly fees and minimum opening deposit requirement, it’s one of the best banks for eCommerce businesses for those who want to avoid the many fees that come with business checking accounts.

Other perks you’ll enjoy when you open a Novo business checking account include the following:

  • Free ACHs, mailed checks, and incoming wires
  • No hidden fees
  • A mobile app to handle transactions on the go
  • Unlimited ATM fee refunds
  • A virtual card
  • Deposits are insured up to $250,000 through Middlesex Federal savings, FDIC member.

In addition, Novo offers a wide variety of integration to help you streamline your business operations. For example, some of the top business tools you can integrate with your Novo business checking account include QuickBooks and Xero for accounting, Zapier for CRM or marketing, Shopify and eBay for eCommerce business owners, and Stripe for payment processing.

Novo falls short because its business checking account cannot accept cash deposits. The only way to deposit cash is by purchasing a money order through an approved vendor and then using Novo’s mobile check deposit feature to deposit the check.

If you’re looking for a basic business checking account with no fees, Novo is the best option for your business banking needs.


Mercury is a fintech company designed for startups. Created with startups in mind, Mercury offers various integrations, including Shopify, Amazon, QuickBooks, Xero, PayPal, Stripe, and more. Besides, it provides open API access, meaning you can customize and automate your Mercury account by creating transfer rules, making bulk payments, and reconciling transactions.

With Mercury, you have access to in-built digital tools that let you send and receive payments, monitor spending, and track transactions. In addition, you can create virtual debit cards for temporary usage, add them to your mobile wallet, edit spending limits, and freeze your card through the app.

It offers both a business checking and savings account. There are no minimum opening balance requirements or monthly fees. However, Mercury does not accept cash deposits. Here are some of the reasons to open a Mercury bank account:

  • No monthly fees or minimum opening deposit
  • No fees at Allpoint ATMS
  • Unlimited fee-free transactions
  • Free domestic and international wire transfers
  • Open API access to customize your banking
  • 100% online banking 

In addition to these perks, you can use a Mercury Treasury instead of a traditional savings account to earn up to 4.65% annual percentage yield (APY) on your idle cash.


Another best bank for eCommerce businesses is Bluevine. Its streamlined checking account, lending, and bill pay will help you run your business with ease. No minimum opening deposit, monthly fees, non-sufficient fund fees, or other incidental fees are linked to the business account.

You can add multiple accounts for better budgeting. This is a great feature, especially if you want to separate specific business finances. It lets you organize your finances by adding up to five sub-accounts with unique account numbers.

Other Bluevine features include:

  • Unlimited free transactions
  • Streamlined bill pay to save you time
  • No fees at MoneyPass ATMs

Bluevine has online banking tools to help streamline your business finances. You can integrate accounting software like QuickBooks, Freshbook, and Wave. You can also sync third-party tools, including Stripe, Paypal, and Expensify.

Bluevine also offers a high-interest rate of 2% APY on account balances up to and including $250,000. That’s way higher than the national average! Unlike most interest-bearing accounts, you don’t have to maintain a minimum daily or monthly balance to earn this interest.

You can also access business funding through Bluevine. So whether you’re strapped for cash or need quick access to cash to fuel your business operations, you can tap into Bluevine’s line of credit.


The NorthOne is another worthwhile digital bank option for small business owners looking for an online business checking account. Unlike other banks for eCommerce businesses on the list, NorthOne charges a $10 monthly fee. However, it offers a variety of digital tools and features, including:

  • No minimum deposit or balance requirement
  • Integration with various business tools
  • Digital banking tools, including envelopes
  • Dedicated customer support via in-app live chat, phone, or email
  • FDIC-insured through The Bankcorp Bank

While NorthOne charges a monthly fee, it stands out in various areas. For one, you’ll enjoy unlimited fee-free transactions, which include deposits, payments, transfers, and debit card usage. Besides, NorthOne doesn’t charge fees for ACH payments, and there are no non-sufficient fund fees. 

The NorthOne business account offers access to digital tools like envelopes to help you automatically budget for your eCommerce business. You can budget a dollar amount daily, weekly, or monthly. 

NorthOne also integrates seamlessly with various software, from accounting tools like QuickBooks, Wave, Square, Gusto, and Expensify to payment processors like PayPal, Stripe, Shopify, and Amazon Pay. Through these integrations, you can see invoices, collect payments, and sync transactions.

Its mobile app lets you access your business account and get real-time reports 24/7. Overall, NorthOne offers all the features you need to run your eCommerce business successfully.


Square is another best digital banks for eCommerce businesses, as it offers entrepreneurs various tools and features. Square Banking includes Square Checking, Square Savings, and Square Loans. 

Square Checking features include:

  • Zero monthly fees
  • No opening deposit or account minimus
  • No credit checks
  • Zero overdraft fees
  • Zero foreign transaction fees
  • Automated transfers to high-yield savings
  • Funds from Square sales are available immediately
  • FDIC-insured through Sutton Bank

With a Square business checking account, you can keep tabs on your money and simplify taxes all in one place 一 your Square dashboard and point of sale. It also has a free business debit card for ATM withdrawals.

You can save your idle cash and earn up to 1.75% interest. There’s no minimum balance requirement to earn the interest. You can also separate your savings, which makes it easy to organize money for various business needs, such as sales taxes or funds for rainy days.

In addition to the above perks, Square Banking offers small business loans. If you need quick access to funds to fuel your eCommerce business, you can get anywhere from $300 to $250,000 Square loan.

The Bottom Line

Finding the best bank for your eCommerce business comes down to your needs. When choosing the best bank for eCommerce businesses, consider fees, accessibility, and payment integrations.

The bank you choose can make or break your business finances. As such, you need to take your time and compare your options while keeping your needs at the forefront.

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