Checking accounts, savings accounts and CDs, credit cards, merchant services, lines of credit, SBA loans and payroll services
None
$25
$10 Waived with a $500 minimum daily balance or $1,000 average ledger balance.
Wells Fargo Bank has a strong nationwide presence, making it a great choice for businesses wanting regular access to branches and ATMs. You can explore a range of small business solutions, including checking, savings, lines of credit and credit cards. Wells Fargo Bank is also one of the country’s leading SBA lenders.
Note that Wells Fargo Bank’s basic business checking account charges a $10 monthly service fee, which can be waived by maintaining a daily $500 balance or a $1,000 average ledger balance.
Read our full Wells Fargo review.
Here are some of Wells Fargo Bank’s business banking requirements:
Checking accounts, lines of credit and automated bill management systems
2.0%
None
None
Bluevine is an online bank offering high-yield checking accounts and other solutions to streamline your finances. Its basic checking plan earns 2% APY on balances up to $250,000, plus unlimited transactions — all for free. Upgrading to Bluevine’s Premier checking unlocks more benefits, including 4.25% APY on balances up to $3 million.
If you need same-day business financing, Bluevine’s line of credit can deliver up to $250,000 within minutes for current customers. Otherwise, funding can take between one to three business days. Bluevine has strict criteria for financing, making it a less ideal option for startups or low-revenue companies.
Read our full Bluevine review.
Here are some of Bluevine’s business banking requirements:
Checking accounts, savings accounts and CDs, SBA loans, USDA loans, commercial loans and Express loans
None
None
None Waived with a $1,000 average daily balance.
Live Oak Bank can help stretch your cash flow with higher-than-average returns on a business savings account. You can earn 4% APY with no minimum balance or monthly maintenance fees. Although Live Oak Bank is an online bank with no physical branches, you get unlimited transactions at over 55,000 in-network ATMs.
If you need access to capital, Live Oak Bank is an SBA Preferred Lender and typically processes loans a few weeks faster than average. You can also explore other small business solutions, such as checking, USDA loans, commercial loans and Live Oak Express loans for fast funding.
Read our full Live Oak Bank review.
Here are some of Live Oak Bank’s business banking requirements:
Checking accounts, savings accounts, loans, lines of credit, credit cards and merchant services
None to 0.01%; varies by account
None
$15 Waived with $2,000 minimum daily balance, $2,000 in deposits from Chase QuickAccept®, or $2,000 in Chase Ink Business Card purchases.
If you’re looking for a reputable bank with a strong nationwide presence to streamline your accounts and apply for financing, Chase Bank could be a perfect fit. Options include business term loans, lines of credit, commercial real estate financing and SBA loans, as well as checking accounts, credit cards, investing, payment solutions and more.
Establishing a banking relationship with Chase Bank can help you secure competitive rates on loans or lines of credit. Since Chase Bank is an SBA Preferred Lender, it will typically process and fund your loan faster than a non-preferred lender.
Read our full Chase Bank review.
Here are some of Chase Bank’s business banking requirements:
Checking accounts, savings accounts, loans, lines of credit, credit cards and merchant services
None
None
$15 Waived if you keep a balance over $2,000.
Capital One ranked highest for “small business banking customer satisfaction” in the J.D. Power 2023 U.S. Small Business Banking Satisfaction Study. Overall, business owners were pleased with Capital One’s live phone-based support, the easy-to-navigate website and mobile platforms and the availability of additional services. If you want a one-stop solution for all of your business needs, Capital One offers checking, savings, lines of credit, loans and more.
Note that Capital One has limited branch locations and requires you to apply for business financing in person.
Read our full Capital One review.
Here are some of Capital One’s business banking requirements:
Checking accounts, savings accounts and CDs, loans, lines of credit, credit cards, investing and merchant services
None
$100
$16 Waived if you keep a balance over $5,000, use your debit card to make $500 in new purchases or are a Preferred Rewards member.
Want to earn rewards while conducting everyday business? If you open a business checking account, you’re eligible to enroll in Bank of America’s Preferred Rewards for Business program. This free rewards program offers a 0.25% interest rate discount on small business financing, $10 cashback on eligible payroll service fees and a 5% interest rate booster with business savings accounts. Plus, it allows you to waive most monthly maintenance fees.
You can also explore a range of business credit cards with Bank of America, including cards with accelerated cashback and travel rewards.
Read our full Bank of America review.
Here are some of Bank of America’s business banking requirements:
CChecking accounts, savings accounts and CDs, credit cards, loans, lines of credit and merchant services
Not disclosed
$100
None
Truist prioritizes a company’s overall potential for growth rather than requiring a lengthy business history or robust annual revenue. Because of this, Truist can be an excellent bank for entrepreneurs needing startup financing. Options include unsecured and secured term loans, lines of credit, equipment financing, commercial auto loans and real estate loans.
You can also use Truist for your everyday banking needs, including checking, savings, credit cards and merchant services. Note that Truist doesn’t offer SBA loans.
Read our full Truist review.
Here are some of Truist’s business banking requirements:
Checking accounts, credit cards, lines of credit and merchant services
1.30%
None
None
American Express may not have as many small business financing products as other banks on this list, but the products it does have are strong. For example, this bank provides 13 different business credit card options and a checking account with a higher-than-average yield, many of which offer travel rewards.
However, keep in mind that you won’t be able to use American Express if you want a standard term loan or a business savings account.
Here are some of American Express’s business banking requirements:
