Editorial disclosure: Opinions expressed on this page are the author's alone and do not represent the views of any bank.
Searching for the best bank for your small business or growing startup? Feeling overwhelmed by the countless options and factors you need to consider? Don’t worry, we’ve got your back. We’ve performed thorough research so you don’t have to. In doing so, we’ve compiled a list of the top-performing banks for small businesses in 2022.
Despite being an online-only bank, Axos offers a wealth of loan options. It also provides fantastic checking accounts with no fees, although it doesn’t offer credit cards like most of the other banks on our list. Our table below has information about its most popular checking account: Basic Business Checking. Read Review
- ⦿No monthly checking account fees
- ⦿Unlimited monthly transactions
- ⦿50 free checks
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Bluevine has been providing online small business banking services since 2013. The financial tech company tailors to small businesses with big plans while leveraging the latest technology and providing excellent customer support. Its business checking account comes with 2.0% earning interest, unlimited transactions, and no monthly fees. It also offers the flexibility of a revolving line of credit, making it the perfect tool to help small businesses grow. Read Review
- ⦿No checking account fees
- ⦿Quick approval process
- ⦿Excellent security
Baselane is an all-in-one rental property management software that helps landlords and real-estate investors become fully independent. The platform offers banking services, bookkeeping, rent collection, reporting, analytics, and more. Without monthly account fees, opening deposit requirements, minimum balances, and overdraft fees, Baselane has quickly become one of the most affordable options on the market. Read Review
- ⦿Flexible loans tailored for landlords
- ⦿No account fees or minimum balances
- ⦿Up to 5% Cash Back Debit rewards
Established in 2017, NorthOne is a digital-only banking services provider. North One’s business checking account is the heart of the company’s offer and comes with a low monthly fee, unlimited monthly transactions (deposits, transfers, and payments), live in-app support, invoicing software, Mastercard debit cards, and seamless integrations with some of the most popular payment and accounting platforms. Read Review
- ⦿Access to cash deposits
- ⦿Mastercard debit cards
- ⦿Variety of integration options
Unlike some of the other small business banks on our list that have physical locations, Relay Financial is an online banking and money management platform. While it doesn’t offer lending services to small businesses at the moment, it’s robust banking features provide clients with a range of benefits. These features save small business owners a lot of time and effort when it comes to managing finances. The small business bank also offers no-fee accounts, allowing business owners to save money by avoiding the usual fees. Read Review
- ⦿Up to 50 Mastercard® debit cards for employees are available
- ⦿Collect payments from Stripe, PayPal, and Square
- ⦿No account fees, minimums, overdraft fees, no withdrawal fees at AllPoint ATMs
With $2.73 trillion in total assets, Chase is the largest bank in the United States and the sixth-largest bank in the world. Its biggest argument for being the best bank for a business account is its excellent credit cards, but it also provides a wealth of loan options and very good checking account plans. Our table has information about the bank’s most popular checking account: Chase Business Complete Banking. Read Review
- ⦿Fantastic credit card options
- ⦿No opening deposit on checking account
- ⦿Fantastic ATM coverage
Square Banking is the flagship product from Square’s line and one of the best small-business banking services out there. It provides a great range of resources for small business owners, and is designed to help them simplify their business banking experience. Square Banking consists of three main products: Square Checking, Square Savings, and Square Loans. All three should help small-business owners manage their payments, business banking, and cash flow effortlessly. It works by extending loan offers to eligible small businesses that already use its POS system. Read Review
- ⦿No monthly fees
- ⦿Transparent pricing
- ⦿No overdraft fees
One of the oldest banks on our list, Wells Fargo, offers a wealth of options for personal, small-business, and commercial loans. It’s also a stand-out when it comes to checking accounts and credit cards, making it one of the top small-business lenders on our list. Our table focuses on Wells Fargo’s Business Choice checking account, but the bank also offers great SBA loan options and lines of credit. Read Review
- ⦿Wealth of loan options to suit businesses of any size
- ⦿Easy application process
- ⦿Excellent SBA loans
Despite being one of the younger banks on our list, Capital One is an excellent small-business bank. It offers a variety of business loans, lines of credit, checking accounts, and credit cards, with preferential loan terms for people who already have business accounts at Capital One. The main attraction of a Capital One checking account is the unlimited monthly transactions. The table below has data about both of the bank’s checking account offers: Spark Business Basic Checking and Spark Business Unlimited Checking. Read Review
- ⦿Unlimited monthly transactions
- ⦿No upper limit on business loans and lines of credit
- ⦿Better loan terms for existing account owners
One of the oldest and largest banks in the US, the Bank of America is second only to JPMorgan Chase. It provides solid loan and checking account options across the board. While its maintenance fees are a bit higher than most of its competitors, Bank of America also provides the greatest number of ways to waive these fees. Our table has information regarding the bank’s basic but extremely popular Business Fundamentals checking account. Read Review
- ⦿Plenty of options for waiving maintenance fees
- ⦿Excellent mobile app
- ⦿Above-average transaction limits
Although it operates only along the East Coast of the US, TD Bank is in the top 10 largest US banks both in terms of deposits and total assets. It’s possibly the best choice for customers looking for SBA and commercial real estate loans. The checking account data below concerns its most popular checking accounts: Business Simple Checking and Business Convenience Checking Plus. Read Review
- ⦿Fantastic SBA and real estate loans
- ⦿Very high transaction limits
- ⦿Very low maintenance-fee-waiving balance
Related Product Categories
Our Methodology
1. Lending Options and Costs
This category looks at what sorts of loans focused on small businesses you can open at a particular bank, how much money you can borrow from your bank, and under what conditions.
Whether you’re just starting out or have gotten into some financial trouble, finding the right place for a small business loan can help get your business on track. Different types of loans offer wildly different conditions and fees. You might find that the requirements for the best loan types, such as Small Business Administration loans, can be strict and require a long time for approval. Bad credit can also be detrimental to your chances of scoring a good business loan, but there are lenders who are willing to offer loans for those with poor credit.
We will focus on what loan options are available for small business owners so that you can judge whether the loan amounts and repayment terms suit your business. We’ve listed all the available options, but put emphasis specifically on the best loan terms for most small enterprises.
2. Checking Account Options and Costs
This category looks at what sorts of checking accounts focused on small businesses you can open at a bank. We also highlight the terms, conditions, and fees related to opening and maintaining an account.
There are many factors to consider when opening a small business bank account. The first and most important one is the monthly maintenance fees your account will incur. Depending on the bank, these can be between $0 and $25 for small business accounts, with fees rising sharply for the more advanced accounts larger companies and enterprises would use. Just because a bank is offering low fees or even no fees at all doesn’t mean it will end up being the cheapest option.
These types of banks usually limit your monthly transactions and earn money on any transactions you make over that limit. In this section, we first look at monthly fees and transaction limits and analyze how those affect your overall monthly costs.
The top banks also offer ways to waive those monthly fees completely. You can usually do this by having a certain amount of money in your account at the end of each day or month. Typically, banks check the average of your daily closing balances each month.
The second factor we consider in this category is what requirements each bank has for waiving your monthly fee. As such, you can estimate how this lines up with your average daily and monthly cash flow so you can pick the best option for your business.
Finally, when picking a bank as a small business owner, you should know how much money you need to deposit when opening a checking account. Remember that lower minimum deposits often translate to lower maximum transaction limits and higher charges. Finding the right balance between all three factors is key to picking where to open your small business account.
3. Credit Cards
This category looks at the credit card options offered by each bank. One of the main ways in which banks attract new customers is by offering attractive credit card options with perks and benefits based on subscription tiers. When choosing a bank, you should consider how the benefits stack up against the costs.
The areas we’ve examined in this section include cashback offers and bonuses, as well as fees and APR. This should help you determine which credit card is best suited to your needs and the needs of your business.
4. Branch and ATM Availability
The type of business you operate plays a key part in what services you need from your bank. These determine whether you require brick-and-mortar offices or e-banking will get the job done. If most of your transactions are conducted digitally, online small-business banking can be an efficient and hassle-free solution. On the other hand, if you’re running a brick-and-mortar retail store yourself, chances are that you will want a physical branch, as online banks do not support cash deposits.
The same goes for ATMs - depending on the business you run, the number of cash-out points your bank has, and the fees it charges if you use ATMs from other banks can be extremely important.
5. Online and Mobile Banking
This category looks at how good a bank’s website and mobile apps are.
Mobile phones and the internet have changed the way we think about work. Efficiency, flexibility, and portability are the paradigms for the new century. Being able to access your checking accounts, loan information, and other banking details on the go makes handling your finances a lot simpler.
We’ve looked at the quality of each bank’s online platform and mobile banking apps, evaluated how intuitive the software is to use, and checked the supported operating systems. Knowing how easy and intuitive it is to use your bank’s features should help you make the right choice.
Best Bank for Small Business: Our Top 5 Picks
- Axos Bank
- Bluevine
- Baselane
- NorthOne
- Relay Financial

Small Business Banking Options Reviewed
Axos Review
AVERAGE
LONG
GOOD
EXCELLENT
LOW
- ⦿ Digital only bank
- ⦿ Unlimited monthly transactions and no checking fees
- ⦿ 50 free checks as a sign-up bonus
Bluevine Review
GOOD
GOOD
EXCELLENT
UNLIMITED
HIGH
- ⦿ Excellent customer support
- ⦿ Bill Pay feature
- ⦿ Easy to use
Baselane Review
VERY GOOD
EXCELLENT
EXCELLENT
AVERAGE
HIGH
- ⦿ High yield 3.30% APY on all balances
- ⦿ Loan amounts of up to $2 million
- ⦿ Free business checking account
NorthOne Review
NONE
N/A
EXCELLENT
VERY HIGH
VERY HIGH
- ⦿ Fee-free access to 2,000,000+ in-network ATMs worldwide
- ⦿ Live in-app customer support
- ⦿ Invoice maker
Relay Financial Review
NONE
N/A
EXCELLENT
NONE
AVERAGE
- ⦿ Effortless integration with popular accounting software
- ⦿ No hidden, account, overdraft, or ATM fees
- ⦿ Up to 20 individual business checking accounts and 50 Mastercard® debit cards
Chase Review
EXCELLENT
LONG
VERY GOOD
AVERAGE
VERY HIGH
- ⦿ Accounts for 45% of all customer deposits in the United States
- ⦿ Quick access SBA loans
- ⦿ Excellent cashback rewards
Square Banking Review
EXCELLENT
AVERAGE
VERY GOOD
NONE
N/A
- ⦿ Easy application process
- ⦿ No minimum deposits
- ⦿ Flexible repayment terms on loans
Wells Fargo Review
EXCELLENT
MEDIUM
VERY GOOD
VERY HIGH
VERY HIGH
- ⦿ One of the oldest and most powerful banks on our list
- ⦿ Numerous ATMs and branches available across the US
- ⦿ Popular unsecured loan options
Capital One Review
GOOD
AVERAGE
VERY GOOD
EXCELLENT
AVERAGE
- ⦿ 10th largest bank in the United States
- ⦿ No upper limit for loans or monthly transactions
- ⦿ Relationship-based loan rates for existing customers
Bank of America Review
VERY GOOD
AVERAGE
GOOD
VERY HIGH
EXCELLENT
- ⦿ Second-largest bank in the United States
- ⦿ Easy to waive fees and high transaction limits
- ⦿ Excellent app for smartphones
TD Bank Review
EXCELLENT
MEDIUM
VERY GOOD
EXCELLENT
LOW
- ⦿ Easy to waive maintenance fee
- ⦿ Great terms for real estate and SBA loans
- ⦿ Excellent website and mobile app
First, decide what you want from your bank. Compare the banks for loan terms, checking accounts, credit cards, online and mobile banking, and customer service. Better yet, you can just read our guide to get started with some solid picks.
Axos is an example of a bank with a free small-business checking account that has no maintenance fees. You need to make an opening deposit of $1,000, though. Plenty of banks on our list offer easy ways to waive monthly maintenance fees - our favorites in this regard are Chase, TD Bank, and Bank of America.
Signing up for a checking account or loan with Capital One gives you access to Spark Business IQ, a phenomenal repository of small-business and startup tips and resources.
It’s a hugely competitive market out there, and different banks provide different benefits, which means it’s not easy to definitively pick just one. Any of the six options from our list will serve you well, but we’ve selected Wells Fargo, Chase, Capital One, and Bank of America for various reasons. They are well-established brands with huge ATM and branch networks, excellent customer service, and outstanding loan, checking account, and credit card options.