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10 Best Banks for Small Business

Use our guide to find the best bank for your small business.
Written by Randa Kriss
Edited by Tina Orem
Last updated on May 11, 2022

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The best banks for small business give entrepreneurs a one-stop-shop for all their business banking needs, with a free or low-fee business checking account, as well as options for savings, credit cards, business loans or merchant services.
Keeping everything under one roof allows business owners to build deeper relationships with their banker, who can help them find the right banking solutions as their business grows.
NerdWallet compared national, regional and online banks, as well as credit unions, to identify the best banks for small businesses.

Best banks for business accounts

Best for
Bank overview
Axos Bank® Basic Business Checking
NerdWallet rating 

at Axos Bank®, Member FDIC

24/7 customer support.
Free online business checking account with unlimited ATM fee refunds in the U.S. and live, 24/7 customer support.
Also offers merchant services, business loans and business savings accounts.
American Express® Business Checking
NerdWallet rating 
Interest-earning business checking.
Free business checking with no transaction limits. Earns 1.10% APY on balances up to $500,000.
Also offers business credit cards and small-business loans.
nbkc Business Account
NerdWallet rating 

at nbkc bank, Member FDIC

Fee-free online banking.
Free business checking account and savings accounts that can be opened completely online.
Additional banking services including a business credit card and cash management solutions.
LendingClub Tailored Checking
NerdWallet rating 

at LendingClub Bank, Member FDIC

1% back on debit card purchases.
Interest-earning business checking account with unlimited ATM fee rebates and 1% cash back on debit card purchases.
Also offers cash management services and small-business loans.
Chase Business Complete Banking℠
NerdWallet rating 

at Chase, Member FDIC

Bundling banking services.
Three business checking accounts, two business savings accounts, Chase Ink suite of business credit cards, business loans and more.
Locations in 48 states, with 4,700 branches and 16,000 ATMs.
Wells Fargo Initiate Business Checking℠ Account
NerdWallet rating 
Branch access and business loans.
Three business checking accounts, business savings, credit cards and small-business loans. Largest branch network in the U.S. with roughly 4,900 branch locations and over 12,000 ATMs across 37 states, plus Washington, D.C.
Capital One Spark Business Basic Checking®
NerdWallet rating 
Unlimited checking account transactions.
Two business checking account options, plus a business savings account.
Offers six business credit cards with the ability to earn unlimited rewards, access free employee cards and no foreign transaction fees.
Digital Federal Credit Union Free Business Checking
NerdWallet rating 
Accessible credit union for business banking.
Free, interest-earning business checking account, a business savings account and other business services.
Easy to become a member.
Citizens Bank Clearly Better Business Checking®
NerdWallet rating 
Free business checking at a brick-and-mortar bank.
Three business checking accounts, including one with no monthly fees. Plus a business loan program, savings accounts and two business credit cards. Regional bank with 1,200 branches across 14 states and the District of Columbia. Must apply in person.
U.S. Bank Silver Business Checking
NerdWallet rating 
Easy application online, in person or via phone.
Three business checking accounts (one free option), business savings, credit cards, merchant services and small-business loans.
More than 2,000 branches in 26 states. Three ways to open an account: online, in person, by phone.

» Want more options? See NerdWallet's picks for best business bank accounts for cash deposits, branch access and more.

1. Axos Bank: Best for 24/7 customer support

Axos Bank continues to improve its already-strong free business checking account, adding cash deposits and eliminating transaction limits. Axos business accounts also include 24/7 customer support and unlimited refunds for ATM fees.
Axos also offers interest-bearing checking and savings accounts, business loans (including SBA loans) and merchant services. Unlike many online banks, Axos is Federal Deposit Insurance Corp.-insured and provides all of its banking services directly.
Here are some of the highlights:

2. American Express: Best for interest-earning business checking

American Express’s new business checking account offers one of the most competitive interest rates out there for businesses: 1.10% on balances up to $500,000. The free online business checking account also has no monthly fees, overdraft fees or stop-payment fees.
Beyond that, American Express offers small-business loans and a suite of business credit cards.
Here are some of the highlights:

3. NBKC: Best for fee-free, online banking

NBKC is a great option for fee-free, online-based business banking (though the bank does have four branches in the Kansas City area). NBKC offers a free business checking account, as well as a free high-yield business savings account.
Here are some of the highlights:

4. LendingClub: Best for cash back on debit card purchases

LendingClub offers an online interest-earning business checking account that includes unlimited ATM fee rebates and earns unlimited 1% cash back on debit card purchases. The trade-off: A $10 monthly fee (waived with an average monthly balance of $5,000).
Here are some of the highlights:

5. Chase: Best for bundling banking services

Chase offers a variety of small-business banking services that set it apart from other national brick-and-mortar banks, including three business checking accounts, two business savings accounts and the Chase Ink suite of business credit cards, among other financial products.
You can open a business account online or in person. (Chase has 4,700 branches across 28 states.)
Here are some of the highlights:

» Need financing? Compare small-business loans

6. Wells Fargo: Best for branch access and business loans

Wells Fargo has roughly 4,900 branch locations and over 12,000 ATMs across 37 states, plus Washington, D.C. — the largest branch network in the U.S. — making it an ideal choice for small-business owners who prefer to do at least some of their banking in person.
In addition, Wells Fargo is among the best banks for business loans, offering competitive financing options, including those with benefits for existing customers. Wells Fargo is also one of the most active SBA 7(a) lenders: As of December 2021, Wells Fargo approved the most SBA 7(a) loans of any traditional national bank in the country.
Here are some of the highlights:

7. Capital One: Best for unlimited transactions, business credit cards

Capital One’s business checking accounts offer unlimited fee-free transactions, an uncommon feature for brick-and-mortar banks. Capital One also has some of the best business credit cards on the market.
Here are some of the highlights:

8. Digital Federal Credit Union: Best accessible credit union for business banking

Digital Federal Credit Union, or DCU, is a top option for small-business owners looking for a credit union business account. DCU offers a free, interest-earning business checking and savings account, as well as other services. Unlike some credit unions where membership is extremely limited, DCU is easy to join.
DCU is open to members of participating community organizations (which you can join for as little as $10 when you open your account), employees or retirees (and their family members) of a variety of companies, and residents of certain neighborhoods or condominium associations in Massachusetts and New Hampshire.
Here are some of the highlights:

9. Citizens Bank: Best for free business checking (brick-and-mortar)

Citizens Bank is a great option for business owners living in the bank’s service area. It offers a free business checking account with up to 200 fee-free transactions. A similar account with other regional or national banks would carry a monthly fee of $10 to $15 a month.
Citizens also has a robust business lending program, which offers lines of credit, term loans, equipment loans and SBA loans. Business savings accounts, two business credit cards and employee benefits solutions round out this bank's offerings.
Here are some of the highlights:

10. U.S. Bank: Best for easy application online, in person or by phone

U.S. Bank is one of the few brick-and-mortar banks that lets you open an account online. You can also call or visit a branch to get your account started.
Business owners can choose from one of three business checking accounts and take advantage of additional services, including payment processing, small-business loans and business credit cards.
Here are some of the highlights:

How to choose a bank for your small business

Here are some things to keep in mind as you compare your options:
  • Consider your short- and long-term financial goals. If you think your business’s needs will change drastically in a year, you don’t want to choose a bank that won’t be able to accommodate you after that year.
  • Think about how you prefer to bank. Are you going to turn your search exclusively to brick-and-mortar banks or are online banks an option?
  • Look for the product features or services that are most important to you. If a business checking account is your top priority, narrow down your search to find the best checking account options for your business. On the other hand, if you want to bundle multiple products together, find a bank that can provide the services that are most important to you.
  • Don’t forget about fees. Make sure you understand the fees associated with any business account, and explore multiple options before signing up.
  • Start, but don’t end, your search with your personal bank. According to a 2019 study from BAI, a research and training nonprofit for business owners, 79% of small-business owners reported using the same provider for their personal and business financial services. The same study points out, however, that business owners report less satisfaction with their bank than general banking customers. The net promoter score — a measure of customer satisfaction — is 35 for general banking customers, but only 24 for business owners. While it might be easy to start your search with your personal bank, it might be worth exploring alternative banks as well.

Compare more business banking options

Want to explore more banks for small businesses? Use NerdWallet's tool to search for and compare business checking accounts based on the features that are important to you, whether that's unlimited transactions, free ATM access, no monthly fee or a low minimum opening deposit.
The information related to the Wells Fargo Business Secured Credit Card has been collected by NerdWallet and has not been reviewed or provided by the issuer or provider of this product or service.