Head-to-Head
Live Oak Bank Business Checking
Online U.S. bank checking with waivable monthly fees, unlimited items, Allpoint ATM cash-out, no cash deposits, no checking APY
VS
Old National Bank Business Checking
Branch + cash deposits; low/no monthly fee with 500-item cap; Midwest/Southeast relationship bank (not high-APY checking)
Monthly Fee
Essential $10/cycle if ADB <$1,000; Plus $25/cycle if ADB <$25,000; Analysis $100/mo (offset by earnings credit — rate unpublished)
Access: $0 on current product page ($3/mo paper statements; eStatements free). Pro: $25/mo OR $0 with $20,000 avg ledger OR $50,000 combined checking+savings+MMA avg ledger.
Checking APY
None — non-interest-bearing on all three current tiers
0.00% — noninterest-bearing on Access and Pro
Rating
7.6/10
7.6/10
Costs & Fees
| Metric | Live Oak Bank Business Checking | Old National Bank Business Checking |
|---|---|---|
| Monthly maintenance | Essential $10/cycle if ADB <$1,000; Plus $25/cycle if ADB <$25,000; Analysis $100/mo (offset by earnings credit — rate unpublished) | Access: $0 on current product page ($3/mo paper statements; eStatements free). Pro: $25/mo OR $0 with $20,000 avg ledger OR $50,000 combined checking+savings+MMA avg ledger. |
| Fee waiver | Essential: cycle ADB ≥ $1,000. Plus: cycle ADB ≥ $25,000. Analysis: earnings credit offsets fees. | Access: unconditional $0 maintenance (use eStatements to avoid $3 paper fee). Pro: $20k ledger or $50k combined deposit averages. |
| Transaction fees | Unlimited — no charge for checks paid/deposits, ACH, debit card on Essential/Plus (fee schedule 7.21.25) | 500 items/month free then $0.50 each. Items = checks paid, withdrawals, deposits, deposited items, ACH/POS debits and credits. |
| Overdraft/NSF | Overdraft $25; NSF no charge; returned item $5. No daily cap published. | Paid NSF/Overdraft Item $36 if overdrawn >$25; max 2 paid items/day. Daily Overdraft $7 from day 7 if overdrawn >$25 for 7+ consecutive business days, up to 5 days. Overdraft Courtesy discretionary. |
| ATM fees | Allpoint 55,000+: $0 from Live Oak. OON: Live Oak $0 + owner surcharge. Foreign ATM 3% of amount. No rebate program. | ONB + Allpoint (~55,000+) $0 ONB fee. Non-ONB/non-Allpoint: $3 Foreign ATM Fee + operator surcharge. No rebate disclosed. |
| Wire/ACH | Incoming wire $10. Outgoing domestic $19. Outgoing international $40. ACH no charge on fee schedule. ACH collections/payments/EFTPS are Plus/Analysis features only. | Incoming domestic $16; outgoing domestic $30; incoming intl $16; outgoing intl $50. Pro/Payments Plus: 1 free domestic outgoing wire/month; discounted fees thereafter not disclosed. |
Interest & Yields
| Metric | Live Oak Bank Business Checking | Old National Bank Business Checking |
|---|---|---|
| Checking APY | None — non-interest-bearing on all three current tiers | 0.00% — noninterest-bearing on Access and Pro |
| Savings APY | Business Savings and Business Market Monitor: tiered interest; APY not disclosed on public pages | |
| FDIC coverage | Standard FDIC $250,000 per depositor per ownership category at Live Oak Banking Company | Standard FDIC $250,000 per depositor per ownership category at Old National Bank |
Features & Access
| Metric | Live Oak Bank Business Checking | Old National Bank Business Checking |
|---|---|---|
| Branch/ATM network | No retail branch network. Allpoint 55,000+ for cash withdrawal only — no ATM cash deposit. OON Live Oak fee $0. | ~346–361 banking centers in IL, IN, IA, KY, MI, MN, NC, ND, TN, WI. ONB ATMs + Allpoint ~55,000+ surcharge-free. Cash deposit at deposit-taking ONB ATMs. |
| Mobile app | iOS ~2.6/5 (~109 ratings); Android ~3.0–3.1/5 (~100–107 reviews) — Forbes Advisor Aug 2026 called mediocre | Old National Mobile app — Google Play ~4.5 (13.8K reviews). iOS U.S. volume uncertain from public scrapes. |
| Virtual cards | Not disclosed beyond debit Card Center | Not disclosed |
| Opening deposit | $100 | $100 |
| Eligibility | Sole prop, partnership, LLC, corporation, nonprofit. LP, professional corp, association on savings/CD pages. | Sole prop, association, org, partnership, LLC, corporation, business fiduciary/escrow per agreement. EIN emphasized in checklist. |
Pros & Cons
Live Oak Bank Business Checking
Pros
- Unlimited transactions and $0 item/ACH/debit fees on Essential/Plus (fee schedule 7.21.25)
- Monthly fee waivable at modest ADB — $1,000 Essential, $25,000 Plus
- Deposits at Live Oak Banking Company (true bank) with optional IntraFi ICS
- Allpoint 55,000+ cash-out with no Live Oak surcharge
- QuickBooks, bill pay, mobile deposit, multi-approver controls; long weekday phone hours (8am–11pm ET)
Cons
- Checking earns no APY
- No cash deposits and no branches
- Essential lacks online wire origination and ACH collections/payments per official matrix
- Outgoing wires $19 domestic / $40 international; Analysis fee schedule not public
- Weak mobile app ratings (~2.6 iOS); ICS liquidity not instant ($350k enrollment minimum)
Old National Bank Business Checking
Pros
- Access $0 maintenance with 500-item bucket and no minimum balance (ONB product page)
- $25,000 monthly cash/currency free then $0.15 per $100 — explicit branch-bank pricing
- Allpoint 55k+ surcharge-free ATMs plus ~346+ owned branches in 10 states
- Pro bundles Autobooks Basic, 1 free domestic wire/month, ACH allowance, and fraud tools
- Path to ONPointe Treasury, Analysis Checking, Elavon merchant, and local lending; $400/$800 bonus through Oct 30, 2026
Cons
- 0.00% APY on checking
- In-person opening only — not nationwide online account
- 500-item definition is broad (ACH, POS, deposits count) at $0.50 over — easy to exceed
- Full current business fee schedule PDF not publicly posted
- Out-of-network ATM $3 + 3% foreign debit fee; standard FDIC $250k only
Verdict
Live Oak Bank Business Checking
Live Oak Bank offers three online-only business checking tiers at Live Oak Banking Company (Member FDIC): Essential ($10, waived at $1k ADB), Plus ($25, waived at $25k ADB), Plus Analysis ($100, ECR offset unpublished). Fee schedule 7.21.25: unlimited items, $0 ACH/debit, $10 incoming wires, $19/$40 outgoing wires, $25 OD. Essential = QuickBooks, bill pay, mobile deposit. Plus adds wire origination, ACH collections/payments, EFTPS, RDC. No cash, no APY, no branches. Allpoint cash-out only. Optional IntraFi ICS ($350k min). Weak app ratings. $200 bonus expired Apr 2026.
Old National Bank Business Checking
Old National Access Business Banking is branch-opened FDIC checking: Access $0 maintenance, 500 items then $0.50, $25k cash free then $0.15/$100. Pro adds $25 fee (waivable at $20k/$50k), bundled Autobooks/Payments Plus, 1 free wire/month, 25 ACH/month. 0% APY. Wires $16 in / $30 out / $50 intl. Full business fee PDF not posted. Fits in-footprint cash SMBs; poor for remote founders and high-volume treasury.