Banks offer established businesses a variety of products and services to help manage cash flow, streamline payroll, and identify growth opportunities. We've put together a list of the top banks across the U.S. for those who are thinking of switching banks or simply want to open their first small business bank account.
Best Regional Banks - Learn more about the best regional banks.
Best Banks for Online Businesses - Learn about the top banks that are most suitable for online businesses.
Best Banks for High Transaction Volumes - Learn more about the best banks for businesses that process high transaction volumes each month.
Why We Chose Chase:
Chase is a major national bank with over 5,000 locations and a huge network. This means that small business owners will have readily available access to banking support. Chase also has over 16,000 ATMs available nationwide.
Chase offers a variety of merchant services and credit card options that are available to account holders. There are also special rewards for credit cardholders. You can also access your banking information through Chase's advanced mobile banking app, which also allows you to deposit checks.
Things to Consider When Evaluating Banks for Established Businesses:
- Check whether the bank you want offers the banking services you will need now as well as in the future.
- Think about the kind of support you need and see which banks will assign you an account manager, if you need one, as well as which bank has locations near you.
- Make sure the bank you choose understands your business and its needs.
Best Banks for Established Businesses in 2019:
Has a vast network with many locations but also has high monthly checking fees.
Offers free checking accounts and very low fees, but is an entirely online bank with no physical locations.
Offers loans with low interest rates and long repayment terms but requires an excellent credit score to qualify.
Offers a variety of checking options and loans with competitive interest rates.
Does not require a minimum bank balance but is an entirely online bank, so does not allow cash deposits.
Has higher fees than other banks but checking fees can be easily waived and it has a strong national network.
Offers a variety of small business loans but requires the fees upfront.
Offers a variety of small business loans and financial services but there is limited branch accessibility.
Citibank has a large global network but less U.S. based locations than its competitors.
Offers a free business checking option, low fees, and advanced online banking features.
Offers a variety of savings and checking accounts as well as good customer service.
Offers less support than bigger banks as most of its services are online but has low checking fees and good interest rates.
Offers national coverage and low monthly fees but has expensive overdraft fees.
Offers free business checking accounts but only has locations in 7 states. Accounts must be opened online.
Only offers its services in 5 states.
Has no physical locations but offers good rates and a dedicated customer support team.
What is the best bank for established businesses?
How do I choose a bank for my company?
- Evaluate your needs and what you will need from your bank.
- Compare various small and large banks and their fee structures.
- Look into the bank's reputation.
- Evaluate the support the bank would offer you and your business.