14 Best Chime Alternatives for Startups in 2024

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Whether you’re a small business or a startup, business banking is a critical element to running your company. These days, there is a litany of digital banking solutions to meet the needs of startups and sole proprietorships, including Chime. 

Chime is a fintech company offering basic banking services through its partnerships with leading financial institutions. Their banking services are completely online and don’t require monthly fees.

While Chime is a decent banking option for sole proprietors in particular, incorporated startups may benefit from the services of Chime competitors who make making small business banking easier. These are the top Chime alternatives for startups to make choosing your business banking simple.

Top Alternatives to Chime

Having a strong foundation for your business finances is key to startup success, and where you’re banking makes a huge impact. If you’re looking for an alternative to Chime, we’re here to help. Here’s how these Chime alternatives stack up against the competition.

1. Mercury

Mercury is a fintech company that offers digital banking solutions for startups and small businesses. Their services are completely online and only offered to US-based businesses. 

While Mercury is not technically a bank, it does provide an extremely valuable banking solution that boasts no fees, no minimum balance requirements, and no overdraft fees, making it our top alternative to Chime. 

Some of the benefits of using Mercury for startup banking include: 

  • Extensive financial tools and features 
  • Access to business loan and venture debt offerings 
  • No monthly fees or overdraft fees 

One of the most valuable offerings from Mercury is their free payment options, including sending and receiving ACH and checks, as well as free domestic and international wires. Plus, as a Mercury customer, businesses gain access to valuable integrations with software such as QuickBooks.

2. Brex

Brex is a financial services company available only to venture-backed startups. Used by fast-growing companies such as Class Pass, Coinbase, DoorDash, and even notorious accelerator Y Combinator, Brex is a leader in startup banking. 

While Brex offers several financial services for startups, such as expense management and corporate credit cards, its digital banking option is Chime’s rival. With same-day transfers, automated bill pay, and connection with the Brex corporate credit card — there is a litany of options available to startup founders with Brex. 

Advantages of using Brex’s business bank account: 

  • Ability to earn 4.94% yield with same-day liquidity 
  • Easy and fast sign-up for account 
  • No minimum balance or personal guarantee required 

Brex offers three different pricing options. It is free to open an account using their Essentials account. However, if you are looking for a higher number of features and integrations, you may be better suited to one of their paid plans starting at $12 per month per user.

3. Novo

Novo is a free digital banking solution similar to Chime that offers a variety of flexible services. With Novo, customers gain access to free invoicing features, helpful integrations, and exclusive partner discounts from partners like Gusto, HubSpot, and QuickBooks. 

For an all-in-one digital banking solution, Novo is a great Chime alternative. It does all of the things you’d expect from a digital banking solution, and while Novo is a fintech, not a bank, it partners with Middlesex Federal Savings for business banking that is FDIC-insured

Benefits of choosing Novo’s business checking include: 

  • Unlimited refunds on ATM charges 
  • Helpful invoicing features 
  • No minimum balance requirement or fee to open an account 

Novo’s standout feature is definitely its free and flexible invoicing. Best for businesses that utilize contractors or freelancers, this included feature makes processing payments for these employees easier for business owners. 

4. NorthOne

NorthOne is a small business banking solution built to simplify banking for entrepreneurs and keep them on budget. Plus, the service boasts a super fast application process at as little as three minutes. 

A few of the benefits of using NorthOne’s business banking services: 

  • Their Envelopes features help automate payments and keep track of your budget 
  • Dedicated physical and virtual cards available to every owner 
  • Extensive integrations available to manage all your business finances 

NorthOne’s most notable offering is its automatic budgeting tools. It is important to note, however, that while opening an account with NorthOne is free, to use their service, you will be required to pay a minimum of $10 per month as well as $20 per domestic wire for both sending or receiving.

5. Axos

Axos, like Chime, offers a digital banking service. However, Axos also boasts several other financial services, including personal loans, auto loans, commercial lending, and mortgage services. 

Axos is a great choice for business owners looking for a checking and savings account, as the service offers several options for both. 

Here are a few benefits you can expect from banking with Axos: 

  • Several account options to choose from 
  • No monthly maintenance fees on basic accounts 
  • Free receiving for domestic wires 

Axos offers two different small business checking accounts. The first is their Basic Business Checking with zero monthly fees, and the second is their Business Interest Checking, which offers no monthly maintenance fee with an average account balance of at least $5,000.

6. Revolut

Revolut is a UK-based, innovative banking option for startups and small businesses. Ideal for travelers and businesses that require features for sending and receiving internationally, as the platform supports over 25 currencies and over 100 countries. 

The digital-only banking solution does offer budgeting tools as well as free money transfers on weekdays with some limitations. Plus, starting an account with Revolut is free. 

Some of the benefits of using Revolut: 

  • Access to help budgeting tools 
  • Travel perks included such as cashback on some stays 
  • Ability to earn interest on savings accounts 

While you are able to open a business account and utilize the Revolut Basic plan for free, to gain access to the valuable features Revolut has to offer, you will have to sign up for a paid plan starting at $30 per month.

7. Ally

Ally is a popular digital bank with built-in features to reward customers and help promote their financial wellness. The platform doesn’t require monthly maintenance, overdraft, or incoming domestic wire fees. Overall, banking with Ally comes with several benefits for your personal financial health. 

Ally’s most notable features include: 

  • Variety of financial services, such as checking, savings, and loans
  • 4.25% annual percentage yield on some savings accounts 
  • Early payments up to two days 

With several valuable features to enhance your financial health, Ally is a great banking solution. However, they do not offer business bank accounts. Therefore, Ally should only be considered for personal banking purposes. 

8. Varo

Entrepreneurs looking for a proactive service to level up their financial wellness should consider Varo. Another fintech, not a bank, Varo is a feature-rich money management solution that allows customers to expedite payments and benefit from their savings tools. 

A few of the standout benefits of Varo include: 

  • No monthly or hidden fees 
  • 5% annual percentage yield up to $5,000 on savings accounts 
  • Instant cash advance features get you money when you need it most

While Varo is a great option for sole proprietors and solopreneurs, they do not offer a business bank account. Therefore, you should only consider using Varo if you are planning to open a personal bank account. 

9. Aspiration

Aspiration is a unique financial services company offering cash management accounts that are socially and environmentally conscious. In fact, Aspiration bills itself as 100% fossil fuel-free fintech. 

Solopreneurs seeking an alternative to traditional banking that aligns closely with causes they are passionate about will likely appreciate the progressive nature of Aspiration. But in addition to this, the fintech also offers bill pay, mobile check deposit, debit cards, and interest savings options. 

Here are a few couple benefits of choosing Aspiration: 

  • Free and low account fees available 
  • Helps entrepreneurs meet their sustainability goals 

It is important to note that Aspiration does not offer a business bank account. Therefore, this account is ideal for sole proprietors and solopreneurs who do not require a business bank account at this stage. 

10. Bank of America

Bank of America offers small business banking services for every stage of your business’s life cycle. When you open a Bank of America business checking account, you gain access to several digital tools and specialist support services. 

In addition to business banking, Bank of America also offers funding options in the form of small business loans as well. 

These are a few of the most notable benefits of Bank of America small business checking: 

  • Access to physical branches and office locations 
  • Integrations with QuickBooks and Zelle 
  • Several ways to open your account 

If you are interested in banking with a more established, traditional bank, Bank of America is a good place to start. While you may miss out on some features offered by fintechs dedicated to meeting the needs of startups, small businesses can find useful bank services with this Chime alternative.

11. PayPal

PayPal’s Business account is built with retailers and ecommerce businesses in mind. Their business payment solution includes integrations with popular online store platforms such as Wix, Shopify, and GoDaddy, making it easy to connect your business’s entire tech stack. 

Plus, with PayPal’s payment solutions and invoicing, you can get paid quickly while ensuring your customers have a seamless experience. 

Some of the more notable benefits of PayPal’s business account include:

  • No monthly commitments or hidden fees 
  • Easy connection to online stores perfect for ecommerce businesses 
  • Give customers the ability to pay later without delaying revenue 

While it is free to open your PayPal Business account, you will be required to pay 2.59% plus $0.49 per transaction. However, it is important to note that this is not a business checking account, it is a payment processing solution for businesses. 

12. BlueVine

BlueVine’s business checking account is a great Chime alternative for small businesses. Their banking solution boasts several features, including mobile check deposit, automated accounts payable, team account access, and sub-accounts. 

The company also offers a variety of business lines of credit to help small businesses fund their venture and build business credit. 

These are a few of the perks included with the BlueVine checking account: 

  • No monthly or overdraft fees
  • Unlimited transactions 
  • 2% interest up to $5,000 annually 

BlueVine’s checking account is free to sign up for and has a $0 monthly fee for their Standard Plan. However, if you want lower international and domestic wire fees, you can opt for their Premium Plan, which starts at $95 per month.

13. Capital One

Capital One is a trusted bank for consumers and businesses. The bank offers several business checking options to meet the needs of different business types. However, they do charge more in fees than some competitors for both monthly maintenance and domestic wires. 

The features that Capital One boasts for small businesses include online bill pay, free debit cards, overdraft protection, and fee-free digital transactions. 

Here are a few of the notable advantages of banking with Capital One: 

  • Physical branches available for in-person banking
  • Tailored business checking accounts 
  • Fees are waived with a minimum balance 

Capital One offers three business checking products: Basic Checking at $15 per month waived with a $2,000 minimum balance, Enhanced Checking at $35 per month waived with a $25,000 minimum balance, as well as business checking accounts tailored to your business.

14. Oxygen

Oxygen is an all-in-one digital business banking platform that was built with first-time entrepreneurs in mind. The platform offers several business services, from formation to invoicing to banking. 

With their business banking services, you don’t have to worry about monthly fees or minimum balance requirements, which is a plus. However, the service isn’t ideal if you prefer physical branches or want access to lending products. 

Some of the more notable features included with the Oxygen business bank account: 

  • 5% cash back on business expenses 
  • 1% annual percentage yield with a savings account 
  • Zero fees on over 40,000 ATMs

With its highly-rated mobile app, Oxygen is a great Chime alternative for business owners seeking another digital banking solution for their business that doesn’t skimp on included features.