Best Bank for Small Business in Your State 2022

Opening a business bank account sounds easy: look at some bank reviews, pick one you like, and then apply for an account. But sometimes—a lot of the time, actually—that well-reviewed bank isn’t in your state. Then what?

That’s where we come in. We wanted to make it easier for small-business owners to find business banking, so we compared our rankings of the best banks for small business with bank locations to find the highest-ranked bank in each state. From Alabama to Wyoming—and every state in between—we’ve got you covered.

If KeyBank is in your state, that’s the bank we recommend. And if it’s not? Well, let’s find your new bank!

All of these banks offer small-business checking accounts, savings accounts, credit cards, and other essential business services.

(Note that this list does not include online banks, nor does it include credit unions—both of which we talk about in the FAQs below.)

Have you thought about giving online banking a try?

As you can see from the list above, the best traditional banks don’t offer banking in lots of states. Depending on where your business is located, you may have a hard time finding a decent traditional bank.

Online banks, on the other  hand, offer banking across the nation―meaning geography won’t stop you from getting the financial services you need.

Plus, online banks have some other advantages:

• Online banks usually cost less than traditional banks and have fewer banking fees.
• Online banks let you open accounts and bank on your own schedule.
• Online banks often offer perks like interest-bearing checking, free sub-accounts, and so on.
• Online banks generally earn better customer reviews than traditional banks do.

Of course, traditional banks have their own set of advantages. They offer more services, like merchant services and credit cards—and they can make it much easier to process cash.

Ultimately, you’ll have to decide for yourself if traditional banking or online banking will work better for your business. But if you’re at all interested in online banks, here are a few to consider:

• Small Business Bank has free business checking and free high-yield savings.
• Lili gives freelancers and solopreneurs helpful tools and a great savings account APY.
• LendingClub offers full-service banking as an online bank.
• BlueVine earns up to 1.5% APY on checking account balances.

You can read more about these online banks in our guide to the best banks for small business. 

Or keep reading to learn more about the best traditional bank for businesses in your state.

If you’ve got a KeyBank in your state, then congrats―you get to choose our favorite brick-and-mortar bank.

We’ve found quite a lot to like about KeyBank. It’s got good customer reviews (for a traditional bank, anyway), it offers 24/7 customer service, and it has affordable bank accounts. Plus, it’s got other banking services for businesses, like merchant services and business loans.

Where KeyBank really shines, though, is its cash deposit fees. KeyBank gives you the most free cash deposits we’ve seen―up to $25,000 in free deposits each month―on all its accounts. And on the off chance you need to deposit more than that? You’re in luck, since KeyBank also has very low cash deposit fees for additional deposits.

All that makes KeyBank a great traditional bank―and a great bank, period. So while we wish it was more widely available and that it offered an online application, KeyBank offers the best traditional banking experience we’ve found. If you can use it, we suggest you do so.

If you can’t get KeyBank, Citizens is your next-best option. And lucky for you, that means great customer service.

Citizens isn’t the only bank out there to offer 24/7 customer service, but it stands out for offering that 24/7 service on all business banking―not just credit cards. To sweeten the deal, Citizens lets you contact customer service in all kinds of ways, from phone calls to emails to a public forum to Twitter. (No homing pigeons, though. Sorry.)

Unfortunately, Citizens doesn’t have the best business savings we’ve seen. And it has even more limited availability than KeyBank―just 11 states.

All the same, Citizens offers a good option (and great customer service) for businesses in those 11 states.

No KeyBank or Citizens in your state? Try TD Bank instead, and enjoy its extended banking hours.

TD Bank offers way more flexible banking times than most traditional banks do. It offers extended business hours, with many branches opening at 8:30 and closing at 6:00. Plus, lots of branches open on weekends, giving you way more time to do your banking. And TD Bank also stays open on several banking holidays, like Columbus Day and Veterans Day, so you don’t have to worry about the calendar affecting your business banking.

TD Banks are limited to just 15 states. And while TD Bank doesn’t have terrible reviews, it doesn’t get rave reviews either.

Even so, TD Bank’s flexible banking could make it a great bank for your business.

If you can’t use the three banks above, Huntington Bank offers a good alternative. Plus, it offers a one-stop shop for a surprising number of business needs.

Like many banks, Huntington Bank offers business bank accounts, business loans, business credit cards, merchant services, and so on. But Huntington Bank goes a step further to offer things like business insurance and even cybersecurity services. That makes it easy to take care of your business without worrying about shopping around.

That said, Huntington Bank is one of the most limited banks, with locations in just seven states. And you’ll have to visit your local branch to get information, as it has a very sparse website.

Still, Huntington Bank’s one-stop shop makes it a bank worth looking at.

Truist may not be our first (or fourth) choice, but it’s still a decent option if other banks don’t operate in your state.

Truist (a merger of SunTrust and BB&T) has some good stuff going for it, like a free checking account, low fees on cash deposits, and even discounts on your first set of checks. And because it’s a merger of two banks, you’ll find a lot of Truist locations in some states.

Truist sticks to just 10 states, though. And it doesn’t give you many free transactions, so we really only recommend it for businesses that don’t need many to begin with.

If that describes your business, though, Truist could be a good brick-and-mortar bank for your needs.

If none of the banks above are in your state, we still have some recommendations. We will note, though, that you might be better off with a local credit union or smaller bank.

Still, if you want to stick with a larger bank, these are your best options.

The nice thing about U.S. Bank? It offers bank accounts for very small businesses, very large businesses, and everything in between. That’s why we recommend it for scaling businesses―since it can offer products for your business, no matter the stage.

Unfortunately, U.S. Bank doesn’t get great reviews, and its savings accounts are particularly lackluster. But if you don’t care about savings, it might work just fine for your business.

Bank of America offers a phenomenal loyalty program. When you enroll in Preferred Rewards for Business, you can get discounts on loans, increased interest on savings, cheaper banking services, and other perks.

The problem? You need at least $20,000 in Bank of America accounts to enroll, and far more money to get the best perks. Businesses with lower balances won’t get much of what makes Bank of America great. If you’ve got the cash, though, you can get a lot from Bank of America and its rewards.

Look, Hawaii doesn’t have a ton of banking options. None of the banks we usually recommend do business there. But Bank of Hawaii does, and it seems to provide a decent option. You can choose between a free, basic business account or a more advanced paid one. (It also has analyzed checking for big spenders.)

Unfortunately, neither account gives you much in the way of free transactions or deposits, which means they could end up costing you a lot. Still, at least Bank of Hawaii gives you some business banking options in the Aloha state.

We don’t really like Citibank, but Louisiana (like Hawaii) doesn’t have many banking options. All our other banks stay away from Louisiana, for some reason. But Citibank operates there, and it offers all the essential banking services you need and then some.

Just note that Citibank has pretty bad reviews (and quite a few scandals in recent history). We strongly suggest looking at local credit unions and banks before going with Citibank.

Depending on your state, you may not always be able to get the best bank for business out there—but that doesn’t mean you shouldn’t get the best one around.

If KeyBank operates in your state, that’s your best bet. Otherwise, we recommend Citizens, TD Bank, Huntington Bank, or Truist―based on what’s available in your area. (And in some states, you may have to go with an honorable mention instead.)

With our list of the best banks in each state, you can make sure you’re taking your business to the right place.

The bank you choose matters, but it’s not the only thing that does. Make sure you’re getting the right kind of bank account with our guide to the types of business bank accounts.

Don’t like the banks available in your state? No problem. You’ve got a couple other options.

You can always go with one of the best online banks for small business. Since these banks are pretty much entirely online—which means you do all your banking via their websites or mobile banking apps—it doesn’t really matter what state your business is located in.

If you still want that in-person touch, consider opening a business bank account at a local credit union. Many credit unions offer small-business banking these days, and they often have better deals—not to mention better reputations—than the big banks do.

Or, you know, you can just choose one of the other big banks in your state.

Good question. If you want to see more of the business banking options in your area, check out our list of banks in your state.

Yes, you really need a business bank account. It makes your business more legitimate, limits your liability, and simplifies your financials. We explain all that in more detail in “Do You Need a Business Account?”

To find the best banks for business, we graded dozens of banks on factors like their account fees, account options, customer service, customer reviews, accessibility, and more. Then we looked into which banks were available in each state to find the best possible bank for each state. Of course, these rankings only include traditional banks, as most online banks are available in all 50 states.

Disclaimer

At Business.org, our research is meant to offer general product and service recommendations. We don't guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.