To get our list, we compared our rankings of the best banks for small business with bank locations to find the highest-ranked bank in each state.
(Sorry, Hawaii―you don't get many small-business banking options.)
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.)
While we think the banks listed above are your best options, they’re not your only options. You can still choose from other banks in your state, community banks and credit unions, or online banking.
So how do you choose the right bank as a business owner?
Well, clearly location matters (otherwise we wouldn’t have written this article). You can start by figuring out which banks are available in your state. But you should also consider other factors:
- Available account types (checking accounts, savings accounts, or other accounts)
- Banking fees (including monthly fees, transaction fees, and cash deposit fees)
- Other business services and products (like small-business loans or insurance)
- Your typical bank account usage (number of transactions and cash deposits)
- Customer reviews
If, for example, you just want a basic checking account for your business―no extras needed―you might find that just about any local bank will work (though some will be cheaper than others).
But if you want a business checking account, a savings account, a credit card, a business loan, and merchant services? A smaller bank probably won't have all that, so you'll need to look at big banks instead.