Finding the best bank for your small business doesn’t have to be complicated. Start with the essentials—a good business checking account—and build from there, taking into consideration what you need now and what you might need in five or 10 years.
We rounded up some of the best banks for small businesses, comparing the top options in terms of their checking and savings account offerings, branch and ATM access, and additional services like business credit cards, loans, and merchant services.
Click on a bank name to jump down—or keep scrolling—to learn more about the best banks for small business.
1. Bluevine: Best for high-yield business checking account
2. Wells Fargo: Best for branch access, business loans
3. Chase: Best for small business credit cards
4. Capital One: Best for unlimited transactions at a brick and mortar
5. NBKC: Best for free online business checking and savings accounts
6. Axos: Best for 24/7 customer service, unlimited ATM fee reimbursements in the U.S.
7. Digital Federal Credit Union: Best credit union for small businesses
Although Bluevine is perhaps most well-known for their small business loans, they offer a competitive online business checking account option. Bluevine’s banking services are provided by and FDIC-insured through Coastal Community Bank.
Bluevine Business Checking is fee-free, completely digital, and it gives you the ability to earn interest: 2.00% APY on balances up to and including $100,000. Terms apply.
The Bluevine Business Checking account has no monthly fees, unlimited fee-free transactions, no minimum opening deposit, and no minimum balance requirement. Some other key features include:
The only fees you’ll face are for cash deposits ($4.95 per deposit) and for outgoing wires ($15).
Use our guide to learn more about financing from Bluevine.
Wells Fargo has 4,900 branch locations across 37 states, making it a great option for business owners looking for a brick-and-mortar bank with nationwide branch access.
Wells Fargo offers three main business checking account options: Initiate Business Checking, Navigate Business Checking, and Optimize Business Checking.
Wells Fargo Initiate Business Checking includes:
The Navigate and Optimize accounts offer additional monthly cash deposits and transactions. These Wells Fargo business checking accounts also include waived incidental fees, such as stop payments, incoming wires, and more.
Wells Fargo is also a top bank for small business loans, offering SBA loans, business lines of credit, and commercial real estate financing.
Chase offers some of the top business checking account options on the market but where the bank really shines is its business credit card program. The bank’s Ink suite of cards, as well as a number of co-branded cards, are some of the most substantial cash back and rewards points credit cards for small businesses.
Features of the Chase Business Complete Banking account include:
If you run a business that has a high number of monthly transactions, banking with Capital One is a smart choice. The bank offers unlimited fee-free transactions—a rare feature at brick-and-mortar banks.
Capital One business checking options include: Spark Business Basic Checking and Spark Business Unlimited Checking.
Here’s what you can expect with a Spark Business Basic Checking account:
NBKC is a digital-first bank that offers business checking and savings accounts, along with cash management services like desktop deposit and Autobooks.
You can apply for an account online (it takes about five minutes, according to their website) and manage your account via the bank’s website or mobile app.
The NBKC business checking account, is an online-based account with no monthly fee, overdraft fees, or transaction fees. NBKC’s business checking account includes:
The only fees charged on an NBKC checking account are for sending a domestic wire ($5) and sending or receiving an international wire ($45). Moreover, NBKC gives you the option to add ACH credits and debits, as well as desktop deposit to your account for low monthly fees.
Axos Bank is a digital bank that offers a range of small business solutions: financing, checking accounts, savings accounts, and more. Axos business checking accounts are chock full of business-friendly features, like ATM reimbursements anywhere in the U.S. and 24/7 customer service.
There are two main Axos business checking accounts: Basic Business Checking, an entry-level account with a no opening deposit requirement, and Business Interest Checking, which requires a $100 opening deposit and allows you to earn up to 1.01% APY on your balance; terms apply.
The Basic Business Checking account also offers:
When you open a business checking or savings account with Axos Bank, you can take advantage of the bank’s additional features and services, including:
Credit unions tend to offer better rates and more personal service than big banks—in part because they’re a nonprofit institutions owned and operated by their members.
Digital Federal Credit Union (DCU) is among the best credit unions for small business owners. It’s easy to join; offers a free, interest-bearing business checking account; has multiple business savings options and a business lending program.
You can become a Digital Federal member if you:
Digital Federal’s free business checking account has no minimum opening deposit and earns interest (up to 0.10% APY) as long as your balance is at least $0.01. You can become a member and open an account online.
Key features of Digital Federal business checking include:
Learn more about the best credit unions for small businesses here.
Choosing the best bank for your small business often comes down to these five things:
When you’re answering these questions, be sure to have both your business’s current situation and future goals in mind.
Small business owners have a lot of options about where to bank. To help narrow things down, focus on banks that meet the needs of your specific business, whether that’s branch access, digital tools, high deposit and transaction limits or an interest-bearing checking account.
ust remember, your choice doesn’t need to be a permanent one and you don’t need to do all of your banking with one institution. If your business outgrows your bank, you can always change your business bank account and to find a better fit for your needs.
Priyanka Prakash is a senior contributing writer at Fundera.
Priyanka specializes in small business finance, credit, law, and insurance, helping businesses owners navigate complicated concepts and decisions. Since earning her law degree from the University of Washington, Priyanka has spent half a decade writing on small business financial and legal concerns. Prior to joining Fundera, Priyanka was managing editor at a small business resource site and in-house counsel at a Y Combinator tech startup.