The Best Banks for Small Businesses in 2025

Running a small business in 2025 means choosing between more banking options than ever. Traditional banks now compete with online-only accounts, specialty lenders, and fintech platforms. 

Each promises to be the next best bank for small business, but the reality is that different banks serve different needs. A food truck owner who needs a simple business checking account will have different banking requirements than an e-commerce store or a consulting firm.

We analyzed offerings, fees, and customer experiences across more than 20 US banks to identify the best business finance options for different types of small businesses. This guide breaks down exactly what the best banks offer, what they charge, and most importantly, what type of small business they serve best.

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What is the best bank for small business?

The best bank for a startup pulling in $50K a year looks very different from what works for an established business doing millions in revenue. Before diving into specific banks, let's nail down what matters for your situation:

Monthly revenue under $100K? You’ll need a bank that won't eat into your profits with fees. Look for business checking accounts that skip minimum balance requirements and offer free ACH transfers and bill pay.

Also, make sure the bank plays nice with payment processors like Square or Stripe, and keeps their fee structure simple.

Monthly revenue over $100K? You'll want features like same-day wire transfers, automated invoice payments, and a dashboard for managing multiple sub-accounts. 

Look for banks offering interest rates above 2% on larger balances and dedicated support for when issues pop up.

Some red flags to watch out for: Don't get tangled with banks charging monthly fees you can't escape, even with a healthy balance. 

Be wary of transaction limits that could get expensive once you start growing, poor compatibility with your accounting software, and clunky online banking tools and websites.

1. Chase Bank

Best for: Small businesses needing same-day access to card payment deposits.

Not for: Small online businesses with low monthly balances who rarely need branch services.

Chase Business Complete Banking offers integrated payment processing that lets you access your business credit cards the same day, a lifesaver for businesses managing daily cash flow.

 Their business checking includes $5,000 in free cash deposits monthly and free incoming wire transfers, but you'll need to keep a $2,000 balance to waive the monthly fee

Pros:

• Same-day access to card payment deposits when using Chase payment processing
• Large network of branches and ATMs for cash deposits
• Strong mobile app with mobile check deposit and digital invoicing

Cons:

• $15 monthly fee unless you maintain $2,000 balance
• Limited free monthly transactions (20 paper checks/month)
• Higher fees for wire transfers compared to online banks

2. Bank of America

Best for: Growing businesses with multiple locations needing comprehensive cash management tools.

Not for: New startups or businesses with less than $5,000 in average monthly balances.

Bank of America's Business Advantage checking comes with a cash flow monitoring tool and connects with QuickBooks, Xero, and Wave. Their Preferred Rewards for Business program can slash your fees and loan rates as your balances grow. 

You'll get $7,500 in free cash deposits monthly, which is more than most competitors offer.

Pros:

• Relationship rewards program that reduces fees and loan rates
• Higher cash deposit limits ($7,500/month free)
• Full-service online platform with cash flow forecasting tools
• Business Advantage Relationship Banking accounts offer additional features and benefits for larger businesses

Cons:

• $16 monthly fee unless you maintain $5,000 average balance
• Complex fee structure that varies by state
• Slower customer service response compared to smaller banks

3. Wells Fargo

Best for: Small retailers and restaurants that need both loans and daily banking.

Not for: Businesses looking for modern, user-friendly digital banking.

Wells Fargo combines everyday banking with solid lending options, making it work for businesses that handle cash and need reliable access to loans. Their Initiate Business Checking includes $5,000 in free cash deposits monthly with a $10 monthly fee that can be waived with a $500 minimum daily balance or $1,000 average ledger balance. 

As one of the largest SBA lenders, they're a good choice for businesses planning to seek loans.

Pros:

• Higher cash deposit limits ($20,000/month free)
• Extensive branch network for in-person banking
• Strong track record of SBA loan approvals
• Offers the Navigate Business Checking account for businesses with frequent transactions

Cons:

• $10 monthly fee unless you maintain $500 minimum balance
• Dated online banking interface
• Customer service can be inconsistent

4. Capital One

Best for: Service businesses needing free digital banking and unlimited transactions.

Not for: Businesses needing regular cash deposits or in-person banking.

Capital One's small business banking stands out for its straightforward, fee-free approach. Unlike traditional banks, they don't charge for ACH transfers, incoming wires, or mobile check deposits. 

Their credit card integration offers automatic expense categorization and real-time purchase alerts, particularly useful for businesses with multiple employees making purchases.

Pros:

• No monthly fees or minimum balance requirements
• Unlimited free transactions and digital payments
• 2% APY on savings accounts, higher than most competitors
• Business advantage savings account provides personalized financial guidance

Cons:

• Limited physical locations for cash deposits
• No international wire transfers
• Must visit branch to open account initially

5. US Bank

Best for: New small businesses wanting to avoid monthly fees.

Not for: Businesses needing to deposit more than $2,500 cash monthly.

US Bank offers one of the most accessible Silver Business packages in banking, with multiple ways to waive monthly fees even for newer businesses. Their Smart Assistant digital tool helps track spending patterns and suggests ways to reduce banking costs. 

They also provide free payment processing for your first $50,000 in card transactions annually, a significant saving for new businesses.

Pros:

• Easy monthly fee waiver options
• Free payment processing for first $50K in card payments
• Integrates with most popular accounting software
• Offers business loans to help manage cash flow and finance major expenses

Cons:

• Low cash deposit limit ($2,500 free monthly)
• Limited branch presence in some regions
• Higher fees for premium services compared to larger banks

6. Bluevine

Best for: Service businesses and online retailers who want to earn interest on their checking.

Not for: Businesses needing to deposit cash or handle international payments.

Bluevine Business Checking stands out in the digital banking space by offering 2.0% APY on balances up to $250,000, a rare find for business checking. 

They integrate with popular accounting software like QuickBooks and FreshBooks, and their bill pay feature lets you schedule vendor payments with either ACH or check options.

Pros:

• Zero monthly fees and no minimum balance
• Earns 2.0% APY on balances up to $250,000
• Seamless QuickBooks and payment processor integration
• Offers merchant services like payment processing solutions and point-of-sale systems

Cons:

• No cash deposit capability
• No international wire transfers
• Customer support limited to business hours

7. TD Bank

Best for: East Coast businesses needing extended banking hours and in-person service.

Not for: Businesses outside TD Bank's service area (primarily operates in East Coast states).

TD Bank's Business Convenience Checking Plus offers the unique advantage of seven-day banking, including extended hours and Sunday service at most locations. Their $25 monthly fee can be waived with a $1,500 minimum daily balance. 

They're known for quick loan decisions and same-day business debit card replacement.

Pros:

• Extended hours including Sunday banking
• First 200 transactions free monthly
• Quick loan approval process for existing customers
• Offers a money market account with higher interest earnings compared to traditional checking accounts

Cons:

• Limited geographical presence (mainly East Coast)
• $10 monthly fee unless maintaining $1,500 balance
• Higher wire transfer fees than competitors

8. Novo

Best for: Small online businesses and freelancers wanting digital banking without fees.

Not for: Businesses that need to deposit cash regularly or traditional banking services.

Novo's Business Checking is built for digital-first businesses, with unlimited fee refunds from any ATM worldwide and robust integrations with e-commerce platforms. Their app connects with tools like Stripe, Shopify, and Square, automatically categorizing transactions and simplifying bookkeeping. 

All accounts include free incoming wires and ACH transfers.

Pros:

• No monthly fees or minimum balance requirements
• Refunds all ATM fees worldwide
• Strong integration with e-commerce and accounting tools

Cons:

• No physical branches
• No cash deposits
• No interest earned on balances

9. Axos Bank

Best for: Established businesses that need high-yield checking and unlimited domestic ATM fee reimbursements.

Not for: New businesses or those that need reliable branch services.

Axos Basic Business Checking offers a rare combination of no monthly fees and unlimited domestic ATM fee reimbursements. Their interest-bearing checking option pays up to 1.01% APY on qualifying balances, though it requires a higher minimum balance. 

First-time business owners get a $200 welcome bonus for maintaining a minimum balance in their first two months.

Pros:

• No monthly maintenance fees
• Unlimited domestic ATM fee reimbursements
• Free remote deposit capture
• Offers money market accounts

Cons:

• $1,000 minimum opening deposit
• Limited integration with accounting software
• No physical branch locations

10. Citizens Bank

Best for: Northeast businesses wanting relationship banking benefits and customized service.

Not for: Businesses outside Citizens' service area or those needing sophisticated digital tools.

Citizens Small Business Checking offers tiered relationship benefits that can significantly reduce fees and improve loan terms. Their Business Advisor Program provides dedicated support for growing businesses, including customized financial advice and priority processing on loan applications.

Pros:

• Relationship rewards reduce fees and improve loan rates
• Free incoming wire transfers
• Dedicated small business specialists
• Tailored benefits for smaller businesses that align with their financial criteria

Cons:

• Limited to Northeast and Mid-Atlantic regions
• $10 monthly fee unless maintaining $5,000 average balance
• Dated online banking interface

11. PNC

Best for: Growing businesses that want smart tools to manage their money better.

Not for: Companies looking for the lowest possible fees.

Here's what makes PNC interesting: their Cash Flow Insight tools actually help you predict cash crunches before they happen. While their $10 monthly fee isn't the cheapest out there (you'll need $500 to waive it), their tech makes up for it. 

You can create virtual wallets to set aside money for taxes or payroll, and their mobile app lets you deposit checks until 10 PM for next-day availability.

Pros:

• Smart cash flow forecasting tools that actually work
• Mobile deposit with generous cutoff times
• Good integration with accounting software
• Analysis Business Checking Account simplifies business banking for larger businesses

Cons:

• Monthly fees are on the higher side
• Limited presence outside the Midwest and East Coast
• Minimum balance requirements can be tricky to maintain

Which type of account is best for a small business?

Here's the thing about business bank accounts: they're not one-size-fits-all, and you might actually need more than one. As a small business owner, aim to select banking services that cater to your business's specific requirements.

Let's break down your options without the banking jargon:

Checking vs. savings accounts: Why you probably need both

Most businesses start with just a checking account, but running everything through one account can get messy fast. Your checking account should handle your day-to-day operations, while a separate savings account helps you manage taxes, plan for big purchases, and earn some interest on your reserves. 

Having this separation makes bookkeeping cleaner and tax time less stressful.

Choosing the right checking account for your business

This depends entirely on how your business handles money. A restaurant needs an account that won't charge fees for frequent cash deposits. An e-commerce business needs seamless payment processing integration. And a consulting firm needs easy wire transfer and ACH capabilities. 

Look at your monthly transaction volume and typical balance, these numbers should guide your choice.

Smart ways to use business savings accounts

The best businesses use savings accounts strategically. Set up one account for taxes (aim for 25-30% of your income), another for your emergency fund (3-6 months of expenses), and maybe another for future investments. 

Some banks offer "sweep" features that automatically move excess checking funds into savings, which is pretty handy.

What is the best bank to use for an LLC?

Running your LLC through your personal bank account might seem easier, but it's asking for trouble. Here's why getting a proper business account matters and which banks make it worth your while.

Why your LLC needs its own bank account

First things first: mixing personal and business money is a recipe for disaster. Not only will your accountant thank you for keeping things separate, but you'll also protect your personal assets (which is the whole point of having an LLC in the first place). 

Plus, the IRS tends to look sideways at businesses that blur these lines.

Features that matter for LLCs

The best banks for LLCs offer:

• Multiple debit cards for different employees (with spending controls).
• Easy QuickBooks or Xero integration to keep your books clean.
• The ability to build business credit separate from your personal score.
• Sub-accounts to manage different revenue streams or projects.

Which banks get it right

Chase and Bank of America lead the pack for established LLCs, offering solid credit building opportunities and great accounting integration. For newer LLCs, online banks like Bluevine or Novo make it easy to get started without hefty fees or minimum balances.

Choosing the best bank for your small business

The best bank for your business isn't always the one with the flashiest ads or the biggest name. As we've seen, it depends on your specific needs. You could be running a busy restaurant that needs seamless payment processing, a growing LLC that wants solid lending options, or a service business that prioritizes low fees and digital tools.

Start by looking at how your business actually operates and what features would make your daily operations smoother. The right choice might be a traditional bank with deep roots in your community, an online-only platform that never sleeps, or even a combination of both. Just remember: your bank should work for you, not the other way around.

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