A business bank account helps you keep your business and personal finances separate, gives you better visibility into cash flow, and gives you a clean list of transactions at tax time. If you were looking at Nearside for a no-fee checking account, there's something you need to know first: Nearside is no longer available.
At Relay, we work closely with CPAs and small business owners to build banking that keeps your business on the money and gives you visibility into cash flow. So in this article, we look at what happened to Nearside and break down the best banking alternatives to consider—from modern neobanks to traditional brick-and-mortar banks.
What happened to Nearside?
Nearside is no longer available. The business-banking fintech was acquired by Plastiq in September 2022 and wound down within months—Nearside closed all accounts on December 23, 2022, and Plastiq itself later filed for bankruptcy in May 2023. If you're here because you were considering Nearside, you'll need a different account. For most US small businesses, the strongest alternatives in 2026 are fintech business-banking platforms—Relay, Mercury, Bluevine, Novo, and Lili—alongside traditional options like Axos, Chase, and Bank of America. One thing to understand as you compare: most of the fintech options aren't banks themselves. They're financial technology companies that hold your deposits at a chartered, FDIC-member partner bank, so FDIC insurance reaches you through that bank, subject to conditions. It's worth checking which named partner bank holds a provider's deposits before you open an account.
What is Nearside?
Nearside was a digital banking platform for small businesses. It wasn't a bank itself—it offered accounts through a partner bank, with no physical locations and all banking done online or in an app. It stopped operating at the end of 2022 (see above), but it's worth understanding what it offered, since the alternatives below are measured against the same needs.
Where digital banks have an upper hand on traditional banks is the features built into their platforms. Being digital-first, fintech companies build apps and online platforms with cash-flow trackers, expense categorization, and budgeting tools to make managing your business's finances easier.
Another perk of digital banks is that they integrate with the software and tools you already use—bookkeeping software like QuickBooks or Xero, payment processors like Stripe or Square, and online storefronts like Etsy or Amazon.
A Nearside business checking account had no monthly fees and no minimum balance requirement, and at one point offered 2.2% cashback on debit card purchases. But it had no online check deposits, so cash and checks had to be deposited at ATMs.
Why you need a Nearside alternative
Because Nearside shut down, anyone who used it—or was about to—needs a new account. Even when it was running, Nearside lacked some of the common features on this list. It worked best for smaller operations or online-only ecommerce shops that wanted to separate personal and business finances.
The inability to deposit checks from the mobile app was a real drawback for anyone who accepts them. You'd also miss the expense-tracking and cash-flow tools that help you set and stick to a business budget. The good news: the alternatives below cover those gaps.
Important considerations when choosing a bank
Choosing a business bank account shouldn't be based solely on the now, but on your long-term goals. The right account won't just meet those future needs—it can help you get there more effectively.
Consider your biggest money-management pain points. If a bank could do absolutely anything for you, what would it be? From financial insights to automated budgeting, there's an account that might meet those needs and more.
When considering different bank accounts, ask the following questions:
How do I want to access my banking? Business owners can't drop everything to do their banking. Look for options with mobile apps so you can send and process payments on the go—and check whether it's iOS, Android, or both.
Will it help me manage my money? Budgeting tools like automated savings and spending limits make money management easier.
How will it fit with my accounting process? Digital banks often integrate with accounting software, and many also offer tools for invoicing, bill payment, and more.
How do fees add up? Accounts without monthly maintenance fees often charge for specific activities. Understand how those add up based on your activity—ATM usage, wire transfers, or ACH payments.
Here's a bigger breakdown of what to consider before choosing a bank.
The top alternatives to Nearside
Relay
Relay is a business banking and money management platform that helps you get crystal clear about how much you're earning, spending, and saving. We built Relay in collaboration with accountants, bookkeepers, and CPAs—the experts who understand business finances, what owners need to manage cash flow, and how to stay on the money.
As a result, Relay is equipped with tools that help you budget and keep track of spending. This includes up to 20 individual checking accounts that enable multiple bank account budgeting, percent-based transfers between your accounts, and up to 50 physical or virtual business debit cards to help categorize spending.
To make financial reporting and day-to-day cash management easy, Relay gives you detailed data about each transaction and integrates deeply with tools like QuickBooks Online, Xero, and Gusto.
You can apply for a Relay account online and bank with no monthly maintenance fees, no minimum balance requirements, and no overdraft fees. Paid plans—Grow ($30/month) and Scale ($120/month)—unlock features like same-day ACH, higher savings APY, and accounts-payable tools.
Features:
Business checking with no monthly maintenance fees, no minimum balance requirement, and no overdraft fees
Integrates with popular accounting platforms (including QuickBooks Online, Gusto, and Xero)
Connect with money management apps (like FreshBooks or Expensify)
Get up to 20 individual checking accounts to enable multi-account budgeting
Manage team spending with up to 50 business debit cards (both virtual and physical)
Pros:
FDIC-insured via Thread Bank, Member FDIC
Manage your money with automatic account transfers
Access to 50,000+ Allpoint ATMs
Expense categorization happens as you spend
Domestic and international wires (send fees drop on higher plans)
Accounts-payable tools on Grow and Scale
Cons:
No physical branches available
Novo
If you're looking for a basic platform to get started on, check out Novo. Their accounts are affordable and easy to set up, although some growing businesses might find they don't suit their needs long-term.
Freelancers will appreciate the invoicing feature, which lets them manage accounts receivable. By integrating with your accounting software, much of your monthly accounting process is automated. This is included in their checking account with no monthly fees and refunds of all ATM fees.
If you have to make cash deposits or wire transfers, Novo may be restrictive, and you may find yourself opening another bank account in the future.
Features:
Checking account with no monthly fees and no set minimum balance
Integrations with Shopify, Stripe, QuickBooks, and Xero
Partner perks and discounts
All ATM fees are refunded
Automated budgeting with scheduled transfers to reserves
Pros:
Backed with FDIC insurance (via its partner bank)
Online application
Online invoicing and bill pay
Send paper checks at no extra cost
Cons:
Lacks domestic or international wire transfers
Must deposit cash by using money orders
Must use apps and integrations to get similar functionality to competitors
Bluevine
Most businesses know Bluevine as a lender. While they've offered loans and lines of credit for years, they started offering banking accounts at the end of 2019. Their checking account can earn interest if you meet certain criteria.
A Bluevine business checking account has no monthly fees and no minimum balance. Its Standard checking earns interest on qualifying balances when you meet monthly activity requirements, and a paid Premier tier offers a higher APY. Rates and the conditions to earn them change—confirm the current figures before opening.
Bluevine's checking account has no monthly fees, but specific transaction fees can add up. Cash-heavy businesses will be affected by fees for cash deposits and out-of-network ATM usage.
Features:
Account with no monthly fees and no set minimum balance
The ability to create sub-accounts
Options for both lines of credit and loans
Unlimited transactions
Set up access for team members or an accountant
No fees for ACH or overdrafts
Pros:
Backed with FDIC insurance (via Coastal Community Bank, Member FDIC)
Interest on qualifying balances (higher on the paid Premier tier)
Incoming wire transfers at no charge
Free use of MoneyPass network ATMs
Cons:
The requirements to qualify for interest can be cumbersome
Out-of-network ATM fees
Cash-deposit fees
Limited integrations with payroll or payment processors
Fee for outgoing wire transfers
Brex
If you're a startup or enterprise in the tech space, you may be eligible for a Brex account.
In 2022, Brex shifted to focus on early-stage and rapidly growing tech businesses, which means fewer eligible users but a more targeted product for those who qualify. Brex is a fintech, not a bank, and in April 2026 it became a subsidiary of Capital One. Fast-growing tech businesses will appreciate the integrations, global payments, and multi-currency management as they expand internationally.
If you're not eligible for an account, there's likely a better platform for you on this list.
Features:
Business account with no monthly fees or minimum balance
No fees for overdraft or deposits
Multiple sub-accounts within the business account
Interactive spending reports with expense breakdowns
Team member access anywhere in the world
Pros:
Direct integrations with other financial tools
The ability for custom automated actions
24/7 support
A tool that calculates and forecasts runway
Cons:
Only funded businesses are eligible; sole proprietors are not
Focused toward online banking
Now a Capital One company (product and pricing may change during integration)
No tools for bill payment or invoicing
Lili
New business owners often get blindsided by their first tax filing. Lili built a platform that helps you prepare for tax season all year.
A Lili checking account categorizes transactions to help you stay on top of purchases, and a receipt scanner makes document collection easy. At year-end, the work you've put into your account turns into a pre-filled Schedule C, the tax form sole proprietors file with their personal taxes.
Lili is built for freelancers and the self-employed, and in 2026 it repositioned toward growing small businesses. Its automatic categorization can struggle with mixed-category merchants like Amazon, so review the pre-filled Schedule C carefully.
Features:
Checking account with no monthly fees and no set minimum balance
No foreign transaction, ATM, or overdraft fees
Expense categorizing and tax-saving tools
Pros:
Backed with FDIC insurance (via its partner bank)
Built-in receipt scanner
Cashback at select merchants
Free use of Green Dot ATMs
Automated savings deposits (APY on qualifying balances)
Receive a pre-filled Schedule C at year-end
Cons:
Best suited to sole proprietors and the self-employed
No international or domestic wire transfers
Cash-deposit fee
Comes with a single Visa debit card
Limits on check deposits and external transfers
Mercury
Attracting investors and getting venture capital can be a boon for your business. If your short-term goals include outside investment, Mercury may be for you.
As part of their business checking accounts, users get access to a network of investors. If you're worried about navigating the process, a support team is there for each step.
If you aren't looking for outside investment, a Mercury account doesn't offer as much as some competitors—there's no accounting-software integration for expense categorization or report generation. You'll have a solid business account, but miss out on some quality-of-life features.
Features:
Checking account with no monthly fees and no set minimum balance
No fees for overdrafts, deposits, or ACH payments
Up to 15 checking accounts
Special rewards and discounts with partners
Pros:
Backed with FDIC insurance via partner banks (Choice Financial Group, Column N.A.); up to $5M via a sweep network
Multiple integration options including QuickBooks and Xero
Treasury and savings options for eligible balances
Venture funding through their network
Cashback credit cards are available
Outgoing wire transfers
Cons:
Perks are restricted to those with high account balances
Only one business debit card per user
Functionality is focused on startups with rapid growth
Features like cash-flow management are through API integrations
Lacks accounts-payable or invoicing tools
Axos Bank
One of the first names in digital banking is Axos Bank. They've been operating since 2000 and have a long list of users and customer reviews to show for it.
Axos Bank offers business checking options, including a Basic Business Checking account with no monthly maintenance fee and no minimum balance. For businesses looking to acquire credit, Axos Bank also offers loans, lines of credit, and equipment financing—but you'll miss out on integrations with accounting tech and in-platform budgeting tools. Rates and fees change; confirm the current terms on Axos's site.
Features:
Business checking with no monthly fee and no set minimum balance
No initial deposit required
Reimbursement of domestic wire transfers (limits apply)
24/7 customer support
Additional support with payroll and SBA loans
Pros:
FDIC insured (Axos is a chartered bank)
No fees on cash deposits through MoneyPass and Allpoint ATMs
Domestic ATM fees are reimbursed
Cons:
Interest is limited to a portion of your balance
No integrations with popular tools, including QuickBooks or Xero
No cash-flow management tools to monitor spending
Credit is oriented around SBA loans
Chase
In traditional banking, Chase is one of the biggest names among business owners. Their checking accounts meet the needs of businesses small and large.
Each account has a monthly maintenance fee, but meeting the minimum balance and transaction-volume requirements will waive it. This makes Chase more enticing for established, higher-volume businesses with cash reserves. Fees and waiver thresholds change—check Chase's current terms.
Chase has thousands of branches across the US where you can sit with a professional and get support, including access to credit cards, loans, and lines of credit. But in choosing a traditional bank, you'll sacrifice self-service tools—there are no built-in budgeting or cash-flow tools, so most cash-flow analysis is manual.
Features:
Workflow tools like payment processing and online bill pay
Thousands of branches and ATMs nationwide
Banking on the go via the Chase Mobile app
No monthly fees if you meet certain conditions
Pros:
FDIC insured (Chase is a chartered bank)
Sometimes offers sign-up bonuses
Offers loans, lines of credit, and credit cards
Lots of locations for in-person banking
No minimum opening deposit
Cons:
Monthly account fees if conditions aren't met
Overdraft fees can be costly
Limits on fee-free cash deposits and physical transactions
Won't integrate with common business software and tools
Bank of America
Another traditional bank commonly used by business owners is Bank of America. Unlike most traditional banks, they've made big steps in improving their online experience.
Business owners can pick from checking accounts that carry a monthly maintenance fee, waived if you meet the minimum balance requirement. The specific fees and thresholds change—confirm the current terms. There are still fees for activities like incoming wire transfers and stopping scheduled payments. If those don't affect you, a Bank of America account gives you Cash Flow Monitor and a virtual assistant called Erica to help you understand your finances.
Features:
Fraud protection
Send money easily with Zelle
Stay on top of revenue and expenses with Cash Flow Monitor
Access to small business specialists and a virtual assistant
Pros:
FDIC insured (Bank of America is a chartered bank)
Offers loans, lines of credit, and credit cards
Options for in-person banking
Options for digital debit cards
Cons:
Monthly maintenance fee if you can't meet certain conditions
Additional fees for transactions like out-of-network ATMs and overdrafts
Must pay a fee to add extra users or accounts
Lacking integrations with common business software and tools
Ready to make a move?
While Nearside's no-monthly-fee, no-minimum-balance checking account was easy to get set up on, it's no longer available—and even when it was, it lacked some of the features that help you scale. A lack of cash-flow management or budgeting tools can limit your ability to manage spend and hit your financial goals. Still weighing your options? Check out our full roundup of the best online business banks to compare accounts side by side.
For an account with no monthly maintenance fees and no minimum balance that provides valuable insights to help you scale, consider Relay. You can open an account today.
