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
Costs & Fees
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$25,000; Analysis $100/mo (offset by earnings credit — rate unpublished)
Fee waiver: Essential: cycle ADB ≥ $1,000. Plus: cycle ADB ≥ $25,000. Analysis: earnings credit offsets fees.
Transaction fees: Unlimited — no charge for checks paid/deposits, ACH, debit card on Essential/Plus (fee schedule 7.21.25)
Overdraft/NSF: Overdraft $25; NSF no charge; returned item $5. No daily cap published.
ATM fees: Allpoint 55,000+: $0 from Live Oak. OON: Live Oak $0 + owner surcharge. Foreign ATM 3% of amount. No rebate program.
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.
Cash deposit: Not offered — bank does not accept cash deposits
Interest & Yields
Checking APY: None — non-interest-bearing on all three current tiers
Savings APY:
FDIC coverage: Standard FDIC $250,000 per depositor per ownership category at Live Oak Banking Company
Access, Features & Tools
Access
Branch/ATM: No retail branch network. Allpoint 55,000+ for cash withdrawal only — no ATM cash deposit. OON Live Oak fee $0.
Mobile app: iOS ~2.6/5 (~109 ratings); Android ~3.0–3.1/5 (~100–107 reviews) — Forbes Advisor Aug 2026 called mediocre
Cash deposits: Not offered — no Green Dot, Allpoint+ deposit, USPS, armored, or night drop
Features
Invoicing/bill pay: Bill pay included $0. No native AR/invoicing suite.
Virtual cards: Not disclosed beyond debit Card Center
International: USD only. 3% foreign debit markup. FX wires not separately priced beyond $40 intl wire.
Integrations
- ✓ QuickBooks (included, all tiers — only accounting integration named)
Limits & Requirements
Opening deposit: $100
Minimum balance: Dormant fee after 24 months no activity. No close-out minimum disclosed.
Eligibility: Sole prop, partnership, LLC, corporation, nonprofit. LP, professional corp, association on savings/CD pages.
Best for: Monthly fee waivable Unlimited transactions Real FDIC bank QuickBooks integration Allpoint ATM access IntraFi ICS available SBA lender relationship
Pros & Cons
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)
Solid Pick (digital SMB at a real bank with QuickBooks who can keep $1k+ ADB)
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.