10 Best Banks for Small Business 2021

You can bank on our business banking ranking to help you find the right bank for your biz.
Best small business bank overall
Small Business Bank
Small Business Bank
3.7 out of 5 stars
  • Icon Pros  Dark
    Excellent customer reviews
  • Icon Pros  Dark
    Small opening deposit
Best for cash businesses
Key Bank
3.5 out of 5 stars
  • Icon Pros  Dark
    High amount of free cash deposits
  • Icon Pros  Dark
    Low cash deposit fees
Best one-stop shop bank
Huntington Bank
3.4 out of 5 stars
  • Icon Pros  Dark
    Plenty of business products
  • Icon Pros  Dark
    Extensive business resources
Best for customer service
3.4 out of 5 stars
  • Icon Pros  Dark
    24/7 customer support
  • Icon Pros  Dark
    Several support options
Best checking accounts
3.2 out of 5 stars
  • Icon Pros  Dark
    Fee-free checking accounts
  • Icon Pros  Dark
    Interest-bearing account

There are thousands of banks in the United States, many with thousands of branches, and they all want your business—or in this case, your business’s business. So how are you supposed to find the best bank for your business?

Well, you could look at each of those banks individually to see what kind of value they offer when it comes to small-business banking. Or you could check out our ranking below to see the 10 best banks for small businesses. We’ll tell you which banks we recommend and why, and we’ll even point out some banks that you should steer clear of.

Ready to find your new bank?

Location, location, location

Not all banks are available in all states. In fact, most banks aren’t available in most states. To see if you can sign up with our favorite banks in your state, take a look at this table of availability. Or you can just go with an online bank (like Small Business Bank or BlueVine), in which case your location doesn’t matter.

2021’s best banks for small business

Compare the top small-business banks

Lowest monthly fee for checking
Savings accounts
Credit cards
Merchant services
Get a Bank Account

Small Business Bank


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Huntington Bank


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Icon Yes  DarkIcon No  DarkIcon Yes  DarkIcon No  Dark



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US Bank


Icon Yes  DarkIcon Yes  DarkIcon Yes  DarkIcon Yes  Dark

Axos Bank


Icon Yes  DarkIcon No  DarkIcon Yes  DarkIcon No  Dark



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Data effective 2/15/21. At publishing time, rates, fees, and requirements are current but are subject to change. Offers may not be available in all areas.

Small Business Bank: Most bank for small business overall

Pro Bullet Availability in all states
Pro Bullet Excellent customer reviews
Pro Bullet Small opening deposit
Con Bullet No physical locations
Con Bullet Outdated website and app

Small Business Bank is our top bank for small businesses. As the name suggests, this online bank is all business—no personal accounts here. Fortunately, Small Business Bank is good at what it does.

For example, it doesn’t charge monthly fees for checking accounts, and it boasts high APY for savings accounts (up to 1.25%). But its most impressive feat must be its customer reviews—it had better ratings than any other bank we looked at.

Another selling point? Small Business Bank is primarily an online bank, which means its availability isn’t limited across states. Whether you’re in Alabama or Wyoming, you can open a business account with Small Business Bank.

Of course, if you’re a person who prefers in-person banking, Small Business Bank probably isn’t right for you. Likewise, if you want a bank that offers business loans and merchant services, you’ll need to look elsewhere.

For most small businesses, though, Small Business Bank offers the best banking options.

Small Business Bank
Our verdict
Small Business Bank offers great deals on checking and savings accounts, and its online availability makes it a good option for business owners in any state.

KeyBank: Best for cash-heavy businesses

Pro Bullet High limits on free cash deposits
Pro Bullet Low fees for additional cash deposits
Pro Bullet Higher-than-average customer reviews
Con Bullet Availability in just 15 states
Con Bullet No online application

KeyBank has a lot going for it, like happy customers, 24/7 customer service, and affordable business accounts.

It also offers plenty of additional services for small-business owners, like business lending and merchant services. But in the end, KeyBank provides the best value for businesses that deal with lots of cash.

That’s because KeyBank has the highest amount of free cash deposits we saw on business checking accounts—a whopping $25,000. And if you end up depositing more cash than that (lucky you), KeyBank has some of the lowest cash deposit fees out there.

So if your business has you raking in the Benjamins (and the Washingtons, Lincolns, Hamiltons, and Grants), then KeyBank’s cash-friendly accounts might be right for you.

Key Bank
Our verdict
KeyBank lets you deposit $25,000 fee-free, plus it has low fees for cash deposits beyond that—making it a solid choice for businesses that deal with lots of cash.

Huntington Bank: Best one-stop shop

Pro Bullet Availability of loans, credit cards, and more
Pro Bullet Extensive resources for business owners
Pro Bullet No monthly maintenance fee for checking
Con Bullet Low number of free transactions
Con Bullet Only available in 10 states

Most of the banks on this list offer more than just checking accounts and savings accounts (Azlo excepted), but Huntington Bank goes above and beyond in offering other business services.

It’s not a stretch to say that Huntington could be your one-stop shop for almost everything business. Because, while Huntington has the usual services (like loans, credit cards, and merchant services), it also offers some surprising products.

For example, Huntington has various kinds of business insurance and a suite of cybersecurity services. Plus, Huntington Bank has some top-notch business resources—like calculators for everything from your business’s value to the cost of leasing vs. owning equipment, as well as an extensive knowledge base about all sorts of business topics.

If you’re the kind of person that likes to keep all your accounts in one place, Huntington should be your first (and possibly your last) stop.

Our verdict
Huntington Bank’s multitude of services and resources for small businesses make it a one-stop shop for most of your business needs

Citizens: Best customer service

Pro Bullet 24/7 customer support
Pro Bullet Support through phone, chat, and email
Pro Bullet No monthly service fee for checking
Con Bullet Limited to 11 states
Con Bullet Low business savings APY

Like several of our recommended banks, Citizens doesn’t charge any monthly maintenance fees, and its other fees are pretty affordable. But Citizen really stands out in its customer service. It’s one of a handful of recommended banks that offers 24/7 customer service—but while some of those other banks only offer 24/7 support for credit cards, Citizens has 24/7 support for all your business needs.

Plus, Citizens gives you the most options for getting in touch with customer service. Want to talk on the phone? Go for it. Prefer to take your time with an email? Awesome. Wish you could post questions in a public forum and get expert answers from business bankers? You can do that. Like making a fuss on Twitter? Yep, that’s an option too. In other words, if you’re the kind of business owner that tends to keep customer support on speed dial, Citizens has your back.

Our verdict
Citizens has true 24/7 customer support with a variety of contact options—ideal for business owners who need the peace of mind that comes from having help just a moment away.

BlueVine: Best checking account

Pro Bullet No-fee checking
Pro Bullet Interest-bearing accounts
Pro Bullet Nationwide availability
Con Bullet No savings accounts
Con Bullet Limited support hours

BlueVine is pretty new to the small-business banking game (it’s been one of our favorite business lenders for quite a while), but it’s already impressed us with its checking account.

Like all the best online banks, BlueVine offers no-fee checking. That means no maintenance fees, transaction fees, or ATM fees (as long as you stay with the 38,000 in-network ATMs). Plus, it’s available in all 50 states, unlike brick-and-mortar banks.

But BlueVine goes above and beyond the usual online checking account. It lets you earn interest (a healthy 1% APY) on balances under $100,000. But unlike other interest-bearing accounts, it doesn’t require you to keep a large minimum balance. In fact, BlueVine doesn’t have a minimum balance requirement. And you start earning interest right away.

So while BlueVine may not offer full-service banking (at least not yet), its checking account alone makes it a great banking option.

Our verdict
BlueVine’s free checking account can work well for many businesses―and the interest-bearing is just the cherry on top.

Honorable mentions

NBKC Bank: Best for personal accounts

If you’ve got any interest in doing your personal and business banking in the same place, we recommend online banking with NBKC. It has solid business accounts (a free business checking account and a free money market account), plus great personal accounts (including a personal checking account that earns 0.4% APY).  Likewise, you can get both personal and business credit cards, certificates of deposit, and more.

Put simply, NBKC offers one of your best options for keeping your business and personal accounts with the same (very competitive) bank.

SunTrust: Best for few transactions

We’ll be real with you: SunTrust isn’t the best bank out there (if it was, it would be higher on this list), but it’s a good bank—especially if you won’t make many transactions. SunTrust waives the monthly fee on checking accounts with five or more transactions a month. And since it has fewer free transactions and costlier transaction fees than other banks, SunTrust is best for businesses that have just a handful of checking transactions each month.

TD Bank: Most flexible hours

While TD Bank is an all-around solid bank, its flexible business hours really make it stand out. You’ll find TD Bank branches that open as early as 8:30 a.m. and close as late as 6 p.m. Plus, some locations are open on weekends. Throw in the fact that TD Bank stays open for certain holidays (including Presidents Day, Columbus Day, and Veterans Day), and you’ve got a bank that lets you do your banking when it works for you.

So if you’d like more flexibility with your in-person banking, TD Bank is worth considering.

US Bank: Best for scaling businesses

If you need a bank account for your growing business, consider U.S. Bank. It has four tiers of checking accounts, ranging from the basic Silver for new businesses to the Premium for businesses that want an analyzed account. Likewise, U.S. Bank has plenty of other products for expanding businesses, like small-business lending, credit cards, merchant services, and even payroll services. If you see big growth in your business’s future, give U.S. Bank a look.

BBVA: Best for nonprofits

While several banks offer nonprofit checking accounts, only BBVA (a.k.a. BBVA Compass) offers a special fundraising program for nonprofits. With BBVA For Your Cause, you can invite people to get their own BBVA debit account. If they do, you get $50 right away. After that, you get a percentage of the cost of their future debit card purchases.

In other words, your nonprofit can get banking and free money―a deal that’s hard to beat.

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Other banks for small business

The banks above are the best and brightest. But just in case you want to know all your business banking options—including the bad ones—we thought we’d point out that the banks below do exist and offer banking services. Not that you’d want some of them.

Novo bank logo
Novo Bank
Novo Bank offers no-fee online checking. Novo has got great integrations and lots of discounts for customers, but it also has pretty low user reviews.
NorthOne is another online bank with some neat extra features (like sub-accounts and reporting tools). Too bad NorthOne charges an unwaivable monthly fee.
Axos Bank
Axos Bank has free checking accounts, and its savings accounts come with relatively high APYs. The catch? It requires large opening deposits for most accounts.
Bank of America
Bank of America
Bank of America has a robust rewards program, but you’ve got to have quite a bit of money in Bank of America accounts to take advantage of them.
TIAA Bank This online bank has a lot of ATMs and low account fees, but it also has high minimum opening deposits on some business accounts.
M&T Bank
M&T Bank
M&T Bank has a low number of free transactions, and additional transactions are pretty costly. It’s not the worst option out there, but you can do better.
PNC has specialized checking accounts, like nonprofit checking, business sweep checking, and IOLTAs. If you have niche needs, PNC is great. Otherwise, it’s just okay.
Santander doesn’t have great customer reviews, great rates, or great account offerings. It’s fine, but nothing special.
Capital One
Capital One
Small-business owners love Capital One and its Spark Business line. Sadly, Capital One isn’t accepting new business customers at this time. Bummer.
CitiBank has a widespread presence and all the products a small business could need. Unfortunately, it also has government action against it, so we can’t recommend it.
Wells Fargo
Wells Fargo
Like CitiBank, Wells Fargo has been in big trouble with the government lately. Better to go elsewhere, unless you’re in Alaska and literally can’t apply anywhere else.
JP Morgan Chase Bank Business
Surprise! More government action against Chase. We strongly suggest you pick a different bank.

Business banking FAQ

What about my local credit union?

Honestly, your local credit union is probably great. Many small-business owners love credit unions and find great deals there. But with 5,448 credit unions in the United States, there’s no way we can compare them all.1

So we stuck to reviewing larger banks that are more widely available than credit unions. By all means, though, check out your local credit union to see what they can offer your small business.

What else can a bank do for my small business?

Banks obviously offer the basics, like checking accounts and savings accounts (plus accompanying debit cards). But many banks also offer several small-business funding options (including lines of credit, term loans, and business credit cards). Some banks even offer payroll services, merchant services (so you can accept credit card payments), and even retirement accounts for your employees.

What fees are associated with business banking?

Your exact business banking fees will depend on your bank, but most banks charge at least some of these common fees:

  • Monthly maintenance fee
  • Transaction fees
  • Deposit fees
  • Overdraft fees
  • ATM fees (for out-of-network ATMs)

Keep in mind that almost all banks let you waive the monthly service fee on your business checking account if you maintain a certain minimum account balance, though that minimum balance will vary from bank to bank.

Plus, most banks give you a certain number of free transactions and cash deposits per month.

Which banks are available in my state?

We’re so glad you asked.

You can always open an online checking account. Any of the online banks—like Small Business Bank, NBKC Bank, Axos Bank, and TIAA Bank (among others)—should be available in your state.

But maybe you don’t have reliable internet access (how are you reading this?), or you prefer that in-person banking touch, or you just like getting a lollipop when you make a deposit in your business checking account. If that’s you, take a look at this table to see if our favorite banks are in your state.

Bank availability in your state

Huntington Bank
TD Bank
US Bank









District of Columbia





















New Hampshire

New Jersey

New Mexico

New York

North Carolina

North Dakota





Rhode Island

South Carolina

South Dakota







West Virginia



The takeaway

There are a lot of banks out there, but our 10 recommended banks are some of the best. Whether you prefer online or in-person banking, run a cash-based or credit card–based business, or have lots of money on hand or just a little, one of our favorite banks should meet your business needs.

Now that you’ve found the right bank for your business, check out the best accounting services so you can keep your business’s finances in order.


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.


  1. CUNA, “U.S. Credit Union Profile”2019. Accessed December 2, 2020.
Chloe Goodshore
Written by
Chloe Goodshore
Chloe covers business financing and loans for Business.org. She has worked with many small businesses over the past 10 years, from video game stores to law firms. Those years watching frustrated business owners try to sift through their many options gave her a passion for breaking down complex business topics. She wants to help business owners spend less time agonizing over their businesses so they can spend more time running them.
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