When selecting a bank for your small business, take time to assess its financial goals and needs as well as any services it might provide. There are plenty of choices available, from large banks to local community banks or credit unions – and when selecting the ideal solution it is essential that these factors are taken into consideration before making a final decision.
Chase offers one of the top business checking accounts available, featuring many benefits like ATM fees back and easy accounting software integrations. Furthermore, they also offer excellent savings accounts and credit cards for business use.
Bluevine is an online lender specializing in small-business financing. Their simple application process offers up to $250,000 of credit in just one or three business days and they also provide free business checking accounts without monthly fees, overdraft charges or wire transfer fees.
The bank’s business checking accounts offer interest and have no minimum balance requirements, while also being integrated with software like QuickBooks, Xero Wave & Wise so you can keep better track of expenses.
When selecting the appropriate bank for your small business, factors like rewards programs and minimum balance requirements should be key considerations. Furthermore, opt for banks with no or minimal fees charged.
Found is an online business bank offering a range of services tailored specifically for entrepreneurs. With features such as bookkeeping built directly into the app and HIPAA compliance compliance, Found makes banking for entrepreneurs easy.
Bank of America provides various account options, from interest checking accounts and business savings accounts, to credit card rewards schemes and being available in all 50 states.
Navy Federal Credit Union
Navy Federal Credit Union offers top-of-the-line business banking services, including checking and savings accounts, loans, credit cards and payment processing. As a non-profit entity, this can mean better rates and reduced fees than for-profit banks.
Credit unions provide fee-free Business Checking accounts and debit cards (GO BIZ debit card), with low to moderate nonelectronic transaction allowances and competitive business loan rates that cover commercial real estate mortgage costs, making them ideal choices for small businesses.
U.S. Bank provides your small business with all of the banking services it needs under one roof – business checking accounts and credit cards as well as products and features designed to help expand and grow.
Silver Business Checking accounts from Capital One do not incur monthly fees, making them ideal for companies making less than 125 transactions per month. Capital One also offers Gold Business Checking accounts that come with fee waivers and other perks; both options have extensive branch and ATM networks as well as mobile banking capabilities.
Capital One Bank offers small business owners checking and savings account options that help reduce fees while yielding interest from any idle funds. Their account structures help businesses save fees while earning interest on money that’s sitting unused in accounts.
Capital One Cafes offer excellent in-person support with customer service reps available 24/7 via phone and chat feature, virtual assistant Eno and Twitter support as additional options for support.
Capital One bank’s physical branches are limited to eight states on the East Coast and you must apply in person to open an account with Capital One.
Wells Fargo is one of the premier banks for small business, offering an extensive array of solutions and options, such as checking and savings accounts, merchant services and loans as well as mobile banking apps and wealth planning options.
At their core, Business Checking accounts offer three separate business checking accounts to suit any need: Initiate, Navigate and Optimize. Each has differing limits and fees associated with it, yet Business Checking waives monthly transaction fees while permitting up to $5,000 of cash deposits without charge each month.
Bank of America also provides business credit cards with appealing rewards and equipment financing solutions, in addition to having more physical branch locations than any other US bank.
Bank of America
When selecting the ideal bank for small businesses, a variety of factors must be taken into account, including location, fees and interest rates.
Bank of America and Citibank both provide various checking accounts tailored to businesses. Citibank stands out with more options for small and new business owners as well as being more transparent regarding starting rates.
Both banks offer free online and mobile banking solutions and merchant services that allow merchants to accept credit cards while also integrating them with accounting software. They both also feature physical locations and ATMs for added convenience and competitive business credit card offers.