Best Bank for Small Business in Your State 2021

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 compiled a list of the best banks for small business in each state. From Alabama to Wyoming—and every state in between—we’ve got you covered.

Let’s find your new bank!

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.

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?”

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. 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.

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.