Category: Finance

Bluevine is an online bank that specializes in financing small businesses no matter where they are located in Louisiana. They have a super-fast banking service that is convenient for people that own small businesses.

Bluevine has a flexible and secure business financing option that helps business owners grow and meet their targets. For a small business to qualify for getting finances from Bluevine, it must have generated a revenue of at least $100,000 annually and must have been in business for at least six months.

Why we chose it: High-interest rates, minimal fees, and a lack of maintenance requirements make Bluevine the best business bank account for LLCs or other business types.

High-interest rates
Very few fees
No minimum deposit required

No business savings account
No ATM reimbursement
Fee for cash deposits

Fees

You won’t find any monthly fees when using Bluevine, making it possible to bank without ever paying a dime. Expect charges for using out-of-network ATMs, making the mobile app a valuable tool for finding free withdrawal sites. Each cash deposit will set you back $4.95, making this a tool you want to use sparingly if at all.

Interest Rates

Bluevine comes through in a big way with its 2.0% APY. The rate is 50 times the current national average and applicable on balances up to $100,000. Once your small business’s balance grows beyond this amount, those extra funds won’t accrue any interest.

Minimum Balance

There’s no minimum balance requirement for using Bluevine, no matter how much you have in your account. Small businesses can start with next to nothing and take immediate advantage of the high-interest rate.

Access to Mobile Banking

The Bluevine mobile app makes banking from anywhere a breeze. The thoroughly-designed tool makes it easy to manage your accounts and see where your money is going. It’s also possible to pay vendors by wire or check and schedule payments for fulfillment down the road.

Capital One: Best Bank for Loans and Small Businesses’ Credit Cards in Louisiana

Interest Rates: 0.20% APY

★★★★★

4.6

Capital One provides loans and credit cards that have numerous benefits and incentives to businesses. They also manage business checking, banking, and savings accounts. Capital One has a website and mobile app that allows users to control their accounts from any location in Louisiana, which makes using their banking services easy.

Why we chose it: With no limits on digital transfers, Capital One gives you the freedom to keep funds moving.

Unlimited digital transfers
Does not charge overdraft fees
Large ATM network

Limited physical locations
Monthly account fee
Out-of-network ATM fees

Fees

Capital One’s business accounts come with a $15 monthly fee that can be hefty for a small business. Luckily, you can waive this fee by keeping an average balance of $2,000 over a 30 or 90-day window. There’s no charge for using one of Capital One’s 70,000 ATMs nationwide.

Interest Rates

Opening up Capital One’s business savings accounts unlocks interest rates of up to 0.20% for your first year. This amount applies to balances up to $5 million, giving small businesses plenty of wiggle room. None of the bank’s checking accounts offer any interest, making free digital transfers that much sweeter.

Minimum Balance

You don’t need to keep a minimum balance with Capital One to keep your account open. It is in your best interest to maintain at least $2,000 in your checking to avoid the $15 monthly service fee. Keeping extra funds in your savings account allows you to generate some interest on money not currently in use.

Access to Mobile Banking

Since you won’t find many physical Capital One locations, the bank’s top-rated mobile app comes to the rescue. With it, you can do all your transfers, make digital payments, and deposit money with your device’s camera. The app also gives you access to Capital One’s CreditWise service to monitor your credit score and hear cool tips.

U.S. Bank: Best Bank for Online Banking for Small Businesses

Interest Rates: 0.01% APY

★★★★★

4.5

The U.S. Bank can help you with a loan if your small business needs financial assistance. The bank is fully integrated with online services which makes it easier for you to access the bank’s services and your bank account from anywhere in Louisiana.

Why we chose it: Small businesses in need of extra funds can turn to U.S. Bank for a plethora of lending options.

Lending to fit your needs
Specialized merchant services for restaurants, retailers, and service providers
2,400 branch locations

Charges for overdrafts
Relatively low APY
Only has locations in 28 states

Fees

You’ll never have to worry about monthly fees when using U.S. Bank’s silver checking package for small businesses. Higher-tier accounts do have waivable monthly fees to contend with as your company grows. You’ll just need to keep tabs on monthly transactions to ensure you don’t incur charges for exceeding the monthly limit.

Interest Rates

U.S. Bank’s checking accounts do not come with any options to generate interest. While savings plans come with different perks, the current maximum interest rate is just 0.01%. Although a minimal amount, there is no balance cap to what you can earn.

Minimum Balance

There’s no minimum balance requirement when starting with U.S. Bank’s silver account package designed specifically for small businesses. Other checking accounts have waivable fees should you keep up with the necessary balance amounts. Savings accounts start at a $500 minimum balance to remove service fees.

Access to Mobile Banking

If you find yourself away from one of U.S. Bank’s physical locations, you can perform all your banking through the mobile app. It’s possible to seamlessly transfer funds from one account to another and stay up to date with your financial status. The U.S. Bank will also keep you informed with customized alerts.

Bank of America: Best Bank for Small Businesses in Louisiana for Mobile Banking and Mobile Check Deposit

Interest Rates: Up to 0.04% APY

★★★★★

4.4

Bank of America‘s online services make it easier for small businesses to accept debit card payments from their customers anywhere in Louisiana. Their mobile banking has a fully integrated cash flow monitor and other connected apps and tools necessary for the smooth running of their banking operations.

Why we chose it: Bank of America’s rewards come with several perks to make banking a win-win for all parties involved.

Preferred rewards to boost interest rate
Over 17,000 ATMs and 4,300 branches
Can waive the monthly fee

Lacks 24/7 customer service
Monthly fees
Transaction fees when using non-Bank of America ATMs

Fees

Bank of America’s introductory checking account comes with a $16 monthly fee. You can negate this amount by maintaining a $5,000 monthly balance, spending at least $250 on your debit card, or becoming a Preferred Rewards member. The only other fees to watch out for come from out-of-network ATM withdrawals and charges for excessive deposits in a given month.

Interest Rates

Most small businesses opening a savings account will earn 0.01% interest out of the rate. It is possible to increase this to 0.04% with enough activity in Bank of America’s rewards system. There’s no option to accrue interest with a Bank of America checking account.

Minimum Balance

Keeping an average monthly balance of $5,000 in your checking account will remove the $16 service fee. Similarly, you’ll want to have at least $2,500 in your savings account to avoid a $10 monthly charge there.

Access to Mobile Banking

Bank of America’s mobile app consistently earns high honors for its functionality. Within, you can manage your accounts, pay bills, or transfer funds from any location. You can also make use of the budgeting tool to monitor expenses and control spending.

Axos: Best Bank for Small Businesses with the Best Banking APY

4.61

★★★★★

Axos offers six small business checking accounts: Basic Business Checking, Business Interest Checking (up to 1.01% APY), Business Premium Savings (up to 0.20% APY), Business Savings (up to 0.20% APY), Business Money Market (up to 0.20% APY), and Non-Profit Money Market (up to 0.20% APY).

The Business Interest Checking with up to 1.01% APY is suitable for small businesses that have cash reserves. If you have an interest-earning account with Axos bank, the bank will waive the $10 monthly fee if you maintain an average daily balance of at least $5,000. This Business Interest Checking account is also perfect for businesses who want to grow their reserve.

Why we chose it: Free cash deposits and a low fee structure make Axos Basic Business Checking one of the best business bank accounts out there.

No monthly fee and unlimited transactions.
Unlimited domestic ATM fee reimbursements.
Cash deposits via MoneyPass and AllPoint ATMs.
Welcome bonus for new customers (terms apply).
24/7 customer support.

No third-party app integrations.
Interest checking APY is good, but not great

Fees

Axos Bank Basic Business Checking does not charge a monthly maintenance fee or impose requirements on keeping your account open. You’ll receive back any ATM fees you incur each month, making this account effectively free to use. If you plan to spend a lot of wire transfers, be aware of Axos’s $35 charge for each one.

Interest Rates

This particular account does not have an annual percentage yield and instead focuses on business perks. Anyone with extra money can open up one of Axos’s interest-bearing business savings accounts and accrue interest that way.

Minimum Balance

Axos Bank has no minimum balance requirements for its checking and savings accounts. As a small business owner, you do not need to maintain a certain balance to avoid monthly fees. This makes Axos an attractive option for you if you do not have a large amount of money to keep in your account.

Access to Mobile Banking

Axos Bank offers a robust mobile banking app that allows customers to manage their accounts, deposit checks, transfer funds, pay bills, and wire transfer all from their mobile devices. You can also use the account alerts feature and budgeting tools to stay on top of your finances.

Lili: Best Banking Service for Small Businesses in Louisiana

4.57

★★★★★

Lili provides banking services to small businesses through Choice Financial Group, a member of FDIC. It is a 100% online bank that you can use its services anywhere in Louisiana. Lili does not have any hidden charges and there is no minimum balance and deposit, which makes it suitable for small businesses.

Their mobile app also has tools that enable you to manage your expenses. The app also has invoicing software that generates, sends, organizes, and accepts various payment methods. Plus, if you’re looking for an online best business checking account with no credit checks, Lili is a great option.

Why we chose it: Lili’s robust mobile app helps small businesses manage their finances.

No fees, minimum balance requirements, or minimum opening deposit.
Unlimited fee-free transactions.
Fee-free ATM access through the MoneyPass network; ability to deposit cash through the Green Dot network.
Integrated tools for managing expenses and planning for taxes.
Offers an early payment feature with direct deposit, allowing you to receive funds up to two days sooner than you might with a traditional bank account.

Cash deposits at Green Dot locations incur a fee of up to $4.95 per deposit.
No checkbooks; can’t send or receive wire transfers.
Limited business-related features, e.g., doesn’t offer joint accounts, multiple business debit cards, or third-party integrations.

Fees

While Lili shines for its free tax software, business owners can also rejoice over a lack of account and overdraft fees. You won’t even incur a charge for foreign transactions or at over 38,000 in-network ATMs in the United States. If you end up using an out-of-network machine, expect a charge between $2.50 and $5.

Interest Rates

There is no interest on Lili’s Business Checking account. Those willing to pay can access a savings account with 1.5% APY, but you’ll need at least $34,000 in your account at all times to offset the monthly cost.

Minimum Balance

Lili Bank has a no minimum balance requirement for its checking account, which means that you do not need to maintain a certain balance to avoid monthly fees. This makes it a good option if you are just starting your business or have a fluctuating income.

Access to Mobile Banking

Lili Bank offers a mobile banking app that is specifically designed for freelancers and small business owners. The app allows you to manage your finances, including controlling expenses, saving money for taxes, and managing payments, all from your mobile devices. Plus, the app includes features such as instant payment notifications, budgeting tools, and the ability to make mobile check deposits.

Oxygen: Best Banking Service for Freelancers and Entrepreneurs

4.0

★★★★★

Oxygen Bank provides banking services for freelancers and entrepreneurs through The Bancorp Bank, an FDIC member. It offers suitable banking services for small businesses and freelancers. There are no hidden charges and you can create savings targets and grow your money using the robust APYs. Also, shopping at select merchants using the oxygen will earn you some cash-back rewards.

Why we chose it: Oxygen speaks the language of the trendy business owner, offering some cool banking features along the way. It’s also one of the best checking accounts for sole proprietors.

Aimed at trendy business owners
5% Cashback rewards
Create virtual, single-use debit cards

Virtual bank, no cash deposits
Fewer integrations than other options
No lending options

Fees

Oxygen claims to be fee-free from top to bottom but does specify that out-of-network and international withdrawals may be subject to a charge. You’ll never have to worry about paying for ACH transfers or keeping your account open.

Interest Rates

While you won’t earn interest for funds in your business checking account, Oxygen remedies the problem by adding a business savings account to the mix. Any money hanging out in savings accrues 1.0% interest for balances of $20,000 or less. Amounts in excess still earn interest, but at a much lower rate.

Minimum Balance

Oxygen Bank has no minimum balance requirements for its checking and savings accounts. There will be no monthly fees even if there’s no money in your account. You don’t have to worry about any charges if you don’t make up to a certain amount.

Mobile Banking Features

Oxygen Bank offers a mobile banking app that is designed to help small business owners manage their finances on the go. You can deposit checks, make a bill payment, and generate your account statement. Plus, the app offers spending insights to help you track your finances.

Chase: Best Bank for Business Savings Accounts and Merchant Services for Small Businesses in Louisiana

Interest Rates: Up to 0.02% APY

★★★★★

4.2

March 27, 2023March 28, 2023

Chase is a commercial banking branch of JPMorgan Chase & Co., that works online with the help of fully integrated leading accounting software like QuickBooks. They have a mobile app through which you can pay bills, deposit checks, make transfers, and view your account balance.

Chase bank has branches across Louisiana and has online customer support. Their other financial services include money lending and credit card issuance.

Why we chose it: Chase adds a long list of merchant services to its traditional banking to help your business succeed.

Several available merchant services
Multiple ways to waive the monthly maintenance fee
$300 sign-on bonus

Monthly maintenance fees
Only 20 free transactions per month
Minimal APY

Fees

Monthly fees start at $15 for Chase Business Complete Banking. You can do away with this charge by maintaining a $2,000 daily balance, and making deposits through Chase QuickAccept, or Chase Ink Business Card purchases. There is a cost for transactions after your first 20, and you’ll want to avoid costly wire transfers if possible.

Interest Rates

As with most banks, Chase doesn’t provide any interest for the money you have in a business checking account. To earn a rate, you’ll need to start up a business savings account that accrues up to 0.02%.

Minimum Balance

If you want to avoid Chase’s monthly service fee, you’ll want to keep at least $2,000 in your checking account at all times. Dipping below this amount even once per month is enough to merit the charge. Savings accounts have no fee as long as you have an active checking account with Chase.

Access to Mobile Banking

In addition to standard banking procedures, you can use the Chase mobile app to lock or unlock your credit card should you misplace it. There’s also a budget planning feature to set aside funds for a large purchase and credit monitoring tools to protect your credit health.

Factors We Considered Before Choosing the Best Banks for Small Businesses in Louisiana

Listed below are the major factors we looked at before selecting these banks as the best for small businesses in Louisiana:

Fees: Small businesses often have to count every penny. Using a bank that nickels and dimes you for every little thing can quickly run your account dry. We looked for banks without maintenance fees or at least the option to waive said charge with a few simple steps. It was also crucial to locate institutions that minimize costs for transactions and transfers that every business needs to perform.
Interest Rates: We realize business bank accounts function primarily for organization and making payments, but that doesn’t mean you can’t earn a little interest on the side. Between checking and savings accounts, we called out banks offering easily accessible rates you can use for some extra cash. Some options even go well beyond the national average.
Minimum Balance: Banks with maintenance fees will often waive them if you have enough money in said account. Small businesses may not have a lot of money to work with early on, so we identified institutions with low balance requirements to avoid fees. Some banks also have account minimums to unlock interest rates or other rewards.
Access to Mobile Banking: In our fast-paced world, having all your banking needs at your fingertips is a huge win. Mobile devices also played a role in the emergence of online-only banks with accounts you can access from anywhere. Even banks traditionally known for physical locations are amping up mobile apps to compete with the masses. Our selections highlight banks with top-tier mobile banking options to manage finances and make payments.
Ease of Use: When making our top banking for small business picks, we wanted to ensure features were straightforward to use. This applies to everything from transfers and payments to opening a business bank account with nothing more than an EIN. No bank account should be more trouble than it’s worth.

Best Banks for Small Businesses in Louisiana: FAQs

Want to learn more about opening a bank account for your small business in Louisiana? This Frequently Asked Questions (FAQs) section has the answers you need:

What are the prerequisites to open a business bank account in Louisiana?

To open a business bank account for your business in Louisiana, you will need your business documents and the required minimum deposit. Some banks can also request extra documents like your business plan and proof of address.

Can I open a bank account with my EIN number?

Yes, it’s a good idea to open a bank account with an EIN number. Any business with at least one employee requires an EIN for tax purposes, and banks will use this when registering your account. If you’re the only employee of your venture, the alternative is to use your social security number (SSN). However, using your SSN can blur the line between personal and business finances.

Can I open a bank account in Louisiana without an SSN (Social Security Number)?

Yes, you can open a bank account without an SSN (Social Security Number) in Louisiana. However, the bank may need alternative documents for identification – like any government-issued means of identification or ITIN (Individual Taxpayer Identification Number ). Some banks may also request documents like proof of address. Contact the bank you want to use their services to inquire about what they require to open an account without a Social Security Number.

How much should a small business have in a bank account?

It’s wise to hide away at least six months’ worth of operating expenses in case you hit a snag with your business operations. This is money you can fall back on while you recover from whatever slowdown you currently face. If possible, add at least 10% of your profits each month to grow these savings.

Bottom Line

Small businesses running their operations in Louisiana can benefit from opening a business bank account, as it can help them effectively manage their finances. The best banks for small businesses in Louisiana offer cost-effective options for money management – such as smaller or no charges, reliable customer assistance, and user-friendly mobile apps. Make these top banks your priority while choosing financial partners if you own a small business in Louisiana.

Best Business Bank Accounts by State

Below you will find an interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area.

8 Best Banks for Small Businesses in Maine in 2023

Running a small business can be a daunting task especially if you are entirely new to owning a business. The financial difficulty that comes with operating a small business is the reason you need a good banking partner. The best banks for small businesses offer extra functionalities that help business growth. Keep reading to know more about our favorite picks in this detailed roundup.

Best Banks for Small Businesses in Maine

Bluevine: Best Bank for Small Business Operations
Capital One: Best for Cashback rewards and auto loans
Lili: Best for Sole proprietorships and Freelancers
U.S. Bank: Best Bank for Online and Mobile banking
Oxygen: Best for Entrepreneurs and Freelancers
Axos: Best for Full-service Online Banking
Bank of America: Best for Convenience, Ease of access, and Stability
Chase Bank: Best Bank for Business Payment processing

Our Methodology

In determining the best Maine banks for small businesses, we examined the cost of maintaining an account and the minimum balances of each bank. We also assessed possible extra charges that small businesses may incur by using the bank’s services. We also reviewed interests for users, and mobile and internet banking functions provided by these banks.

Click here for a more detailed explanation of our methodology.

Bluevine

$4.95 per cash deposit, $2.50 for out-of-network ATM fees, $15 for outgoing wires

2.0% APY

Pay vendors by wire or check, schedule payments, manage cash flow

Capital One

$15 (waivable)

$15 per incoming domestic wire, $25 for outgoing domestic wire

0.20% APY

$2,000

Access credit card accounts, transfer money, deposit checks, access bank statements, access to CreditWise service

U.S. Bank

$0.50 fee for transactions after the first 125, fees at out-of-network ATMs

0.01% APY

$500 for business savings

Transfer funds, view documents, find branch/ATM locations, manage cards

Bank of America

$16

Out-of-network ATM fees, fees for excessive deposits

Up to 0.04% APY

$5,000

Manage accounts, pay and transfer, digital wallets, bill pay

Lili

$2.5 for out of network

1.50% APY

Manage finances and payments, control expenses, and save money for taxes

Chase

$15 (waivable)

$25 to $40 for wire transfers, $0.40 per transaction (after the first 20)

Up to 0.02% APY

Fraud monitoring, card control, pay, and transfer, view offers

Axos

$35 for wire transfer

–

Fund transfer, wire transfer, bill payment.

Oxygen

$3 for out-of-network ATM fee, fees for international transactions, $5 international ATM fee, fees for Ingo mobile check deposit

1.0% APY

Check deposit, bill payment, check deposit, account statement

Bluevine: Best Bank for Small Business Operations in Maine

Interest Rates: 2.0% APY

★★★★★

4.7

Bluevine offers robust online banking services regardless of where you are in Maine. If you operate a small business in Maine bluevine is suited for your financial needs. Bluevine is highly secured and provides flexible financing options to small businesses in Maine.

Bluevine provides no minimum balance accounts and offers a 2.0/APY interest. With Bluevine, you are assured of prompt customer service response if you need customer support.

Why we chose it: High-interest rates, minimal fees, and a lack of maintenance requirements make Bluevine the best business bank account for LLCs or other business types.

High-interest rates
Very few fees
No minimum deposit required

No business savings account
No ATM reimbursement
Fee for cash deposits

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Capital One: Best for Cashback Rewards and Auto Loans

Interest Rates: 0.20% APY

★★★★★

4.6

Capital One offers excellent Cashback rewards on their credit cards. The Cashback reward and other perks help to maintain a good line of credit for businesses. Capital One provides users with easy-to-use features and tools that help business operations management.

With Capital One, you can manage your business from anywhere in Maine. The bank provides users with mobile apps and online tools that make banking easy.

Why we chose it: With no limits on digital transfers, Capital One gives you the freedom to keep funds moving.

Unlimited digital transfers
Does not charge overdraft fees
Large ATM network

Limited physical locations
Monthly account fee
Out-of-network ATM fees

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

U.S. Bank: Best Bank for Online and Mobile Banking

Interest Rates: 0.01% APY

★★★★★

4.5

U.S Bank is the bank to go to as a small business in Maine to sort your business financial services needs. This is because the U.S. Bank provides a wide range of financial services. The bank has a vast network of branches across the US, meaning you can access your account from anywhere.

Making use of U.S banks in Maine ensures that your business pays low fees, and has access to competitive rates. Additionally, you will get amazing rewards for using U.S. bank cards.

Why we chose it: Small businesses in need of extra funds can turn to the U.S. Bank for a plethora of lending options.

Lending to fit your needs
Specialized merchant services for restaurants, retailers, and service providers
2,400 branch locations

Charges for overdrafts
Relatively low APY
Only has locations in 28 states

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Bank of America: Best for Convenience, Ease of access, and Stability

Interest Rates: Up to 0.04% APY

★★★★★

4.4

Bank of America offers merchant services that are suited for small businesses in Maine. These merchant services help small businesses to get easy access to credit lines and accept credit and debit card payments. Bank of America in making payments easy for small businesses, helps to increase sales and revenue.

Bank of America provides other payment systems such as point-of-sale, mobile payment systems, and online payment gateways to small businesses in Maine. These payment systems allow small businesses to choose any of the payment systems that best serve their customers.

As a small business in Maine do not worry about the security of your funds, because Bank of America is highly secured. The bank is secured using advanced encryption, and tokenization tools.

Why we chose it: Bank of America’s rewards come with several perks to make banking a win-win for all parties involved.

Preferred rewards to boost interest rate
Over 17,000 ATMs and 4,300 branches
Can waive the monthly fee

Lacks 24/7 customer service
Monthly fees
Transaction fees when using non-Bank of America ATMs

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Axos: Best for Full-service Online Banking

4.59

★★★★★

Axos Bank is popular as a full-service online bank, providing all types of banking services to small businesses in Maine. Axos offers amazing high-yield savings accounts to users. Axos is an ideal online bank for small business owners in Maine because it places no transaction limits to transaction amounts.

The bank also offers a wide range of banking products to its vast customer base. Small businesses in Maine have access to a free business checking account on Axos bank.

Axos offers two major checking accounts for businesses: Basic Business Checking and Business Interest checking. The basic business checking account is given free to customers, while the business interest checking has a $10/month cost. The monthly checking fee will be waived when you maintain a daily balance of $5 on average. Additionally, Axos is insured by the Federal Deposit Insurance Corp.

Why we chose it: Free cash deposits and a low fee structure make Axos Basic Business Checking one of the best business bank accounts out there.

No monthly fee and unlimited transactions.
Unlimited domestic ATM fee reimbursements.
Cash deposits via MoneyPass and AllPoint ATMs.
Welcome bonus for new customers (terms apply).
24/7 customer support.

No third-party app integrations.
Interest checking APY is good, but not great

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Lili: Best for Sole Proprietorships and Freelancers

4.55

★★★★★

Lili is the perfect bank for small businesses, sole proprietorships, and freelancers who need business financing. Lili businesses have all the financial tools needed for proper business operation and management. Businesses using a Lili account have access to a free business checking account online, with no monthly fees or minimum opening balance requirement.

This online checking account allows you to manage taxes, and expenses, accept payments, etc. all in one account. Lili is currently open to all types of businesses, not just freelancers.

Why we chose it: Lili’s minimal fees and tax optimization software help businesses hold onto hard-earned income. Plus, if you’re looking for an online best business checking account with no credit checks, Lili is a great option.

No fees, minimum balance requirements, or minimum opening deposit.
Unlimited fee-free transactions.
Fee-free ATM access through the MoneyPass network; ability to deposit cash through the Green Dot network.
Integrated tools for managing expenses and planning for taxes.
Offers an early payment feature with direct deposit, allowing you to receive funds up to two days sooner than you might with a traditional bank account.

Cash deposits at Green Dot locations incur a fee of up to $4.95 per deposit.
No checkbooks; can’t send or receive wire transfers.
Limited business-related features, e.g., doesn’t offer joint accounts, multiple business debit cards, or third-party integrations.

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Oxygen: Best for Entrepreneurs and Freelancers

4.2

★★★★★

Oxygen is a fintech-type focused bank that is best suited for freelancers and entrepreneurs with a heavy presence online. Oxygen is a great banking option for small businesses in Maine because it charges no fees for transactions across the board.

As a business owner oxygen allows you to earn 5% interest cashback on your spending when you shop at designated merchants. One major good Oxygen does for small businesses is the ability to create single-use debit cards. These single-use virtual cards help secure funds and reduce fraud.

Why we chose it: Oxygen speaks the language of the trendy business owner, offering some cool banking features along the way. It’s also one of the best checking accounts for sole proprietors.

Aimed at trendy business owners
5% Cashback rewards
Create virtual, single-use debit cards

Virtual bank, no cash deposits
Fewer integrations than other options
No lending options

Fees

Interest Rates

Minimum Balance

Mobile Banking Features

Chase: Best Bank for Business Payment Processing

Interest Rates: Up to 0.02% APY

★★★★★

4.2

March 27, 2023March 28, 2023

Chase offers a wide range of business credit cards, business loans, and substantial credit lines to small businesses in Maine and across the US. These offers continue to make Chase popular among small businesses.

Chase additionally provides small businesses with a wide range of tools for financial management and business strategy.

Why we chose it: Chase adds a long list of merchant services to its traditional banking to help your business succeed.

Several available merchant services
Multiple ways to waive the monthly maintenance fee
$300 sign-on bonus

Monthly maintenance fees
Only 20 free transactions per month
Minimal APY

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Ranking Methodology for the Best Banks for Small Business in Maine

To determine the best banks for small businesses in Maine, we considered several aspects of opening a business account and managing business finances. We used these key factors in our decision-making process:

Fees: Small businesses often have to count every penny. Using a bank that nickels and dimes you for every little thing can quickly run your account dry. We looked for banks without maintenance fees or at least the option to waive said charge with a few simple steps. It was also crucial to locate institutions that minimize costs for transactions and transfers that every business needs to perform.
Interest Rates: We realize business bank accounts function primarily for organization and making payments, but that doesn’t mean you can’t earn a little interest on the side. Between checking and savings accounts, we called out banks offering easily accessible rates you can use for some extra cash. Some options even go well beyond the national average.
Minimum Balance: Banks with maintenance fees will often waive them if you have enough money in said account. Small businesses may not have a lot of money to work with early on, so we identified institutions with low balance requirements to avoid fees. Some banks also have account minimums to unlock interest rates or other rewards.
Access to Mobile Banking: In our fast-paced world, having all your banking needs at your fingertips is a huge win. Mobile devices also played a role in the emergence of online-only banks with accounts you can access from anywhere. Even banks traditionally known for physical locations are amping up mobile apps to compete with the masses. Our selections highlight banks with top-tier mobile banking options to manage finances and make payments.
Ease of Use: When making our top banking for small business picks, we wanted to ensure features were straightforward to use. This applies to everything from transfers and payments to opening a business bank account with nothing more than an EIN. No bank account should be more trouble than it’s worth.

Best Banks for Small Businesses in Maine Frequently Asked Questions (FAQs)

If you have more questions about opening a bank account for your Maine business, these FAQs will answer your questions:

What are the requirements to open a business account in Maine?

To open a business bank account in Maine, you need to have your business documentation, personal identification of the business owners/authorized signers, and a minimum deposit if required. Certain banks also require additional documentation such as your business plan or proof of address.

Can I open a bank account with my EIN number?

Is it possible to open a bank account without an SSN in Maine?

Opening an account without SSN is possible in Maine, but it may be very difficult to achieve. You can apply for the ITN from the IRS to be able to open your account. In the end, it’s up to the bank which identification means to accept according to the state laws.

How much should a small business have in a bank account?

Bottom Line

As a business owner in Maine, you must open a business account. Opening a business account will enable your business to get the required financing when you need it. We have looked at the best banks for small businesses in Maine offering low fees, cashback rewards, easy navigation, low-cost financing, etc.

These banks help businesses in Maine to meet their financial needs while maintaining business relations. These banks are your go-to banks for your small business financial needs in Maine.

Best Business Bank Accounts by State

Below you will find an interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area.

8 Best Banks for Small Businesses in Maryland in 2023

Selecting a bank for your business involves many considerations. Your choice could make the difference between how much money you save or lose and the options available for scaling your business in the future. In this article, we present to you our top picks of best banks for small business owners in Maryland, in 2023. Continue reading to know more.

Quick View Of Our Best Banks For Small Businesses In Maryland

Bluevine: Best Overall for Small Businesses In Maryland
Capital One: Best For Zero Maintenance Fee
Lili: Best For Managing and Tracking Daily Transactions
U.S. Bank: Best For Lending Options
Oxygen: Best for Sole Business Owners
Axos: Best For Online Banking
Bank of America: Best For Multiple Transaction Methods
Chase Bank: Best For Credit Card Processing

Our Methodology

We used multiple metrics for selecting the banks that appear on this list. First, we checked how easy it is to open a business account with these banks, and whether they have mobile banking options for their users. Plus, we analyzed financial factors like how much fee they charge for transactions and how possible it is to waive account maintenance fees. Another financial factor we checked was their interest rate and if they have bonus rewards for their users.

Click here for a more detailed explanation of our methodology.

Bluevine

$4.95 per cash deposit, $2.50 for out-of-network ATM fees, $15 for outgoing wires

2.0% APY

Pay vendors by wire or check, schedule payments, manage cash flow

Capital One

$15 (waivable)

$15 per incoming domestic wire, $25 for outgoing domestic wire

0.20% APY

$2,000

Access credit card accounts, transfer money, deposit checks, access bank statements, access to CreditWise service

U.S. Bank

$0.50 fee for transactions after the first 125, fees at out-of-network ATMs

0.01% APY

$500 for business savings

Transfer funds, view documents, find branch/ATM locations, manage cards

Bank of America

$16

Out-of-network ATM fees, fees for excessive deposits

Up to 0.04% APY

$5,000

Manage accounts, pay and transfer, digital wallets, bill pay

Lili

$2.5 for out of network

1.50% APY

Manage finances and payments, control expenses, and save money for taxes

Chase

$15 (waivable)

$25 to $40 for wire transfers, $0.40 per transaction (after the first 20)

Up to 0.02% APY

Fraud monitoring, card control, pay, and transfer, view offers

Axos

$35 for wire transfer

–

Fund transfer, wire transfer, bill payment.

Oxygen

$3 for out-of-network ATM fee, fees for international transactions, $5 international ATM fee, fees for Ingo mobile check deposit

1.0% APY

Check deposit, bill payment, check deposit, account statement

Bluevine: Best Overall Bank for Small Businesses in Maryland

Interest Rates: 2.0% APY

★★★★★

4.7

Bluevine bank offers tons of banking features that most small business owners will need daily. They have no minimum deposit requirement, offer two checkbooks for small business owners, and their account maintenance fee is $0.

The best part is their high-interest rate. With Bluevine, business owners can get up to a 2.0% APY in their bank balance of up to $250,000. Being a fully-online only bank, Bluevine makes sure to provide world-class customer support, making sure business owners don’t go through the stress of running around to fix banking issues.

Why we chose it: High-interest rates, minimal fees, and a lack of maintenance requirements make Bluevine the best business bank account for LLCs or other business types.

High-interest rates
Very few fees
No minimum deposit required

No business savings account
No ATM reimbursement
Fee for cash deposits

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Capital One: Best For Credit Card Processing

Interest Rates: 0.20% APY

★★★★★

4.6

Capital One is a full-service online bank that offers multiple lines of bank services from saving accounts, checking accounts, and CDs to a wide range of credit cards such as business credit cards, secured credit cards, travel credit cards, etc.

The best part is that they charge zero monthly maintenance fee and have a competitively high-interest rate of 0.20% APY. What’s more? Capital One offers top-notch mobile banking tools for making online transactions, accessing credit card scores for free, and card locking.

Why we chose it: With no limits on digital transfers, Capital One gives you the freedom to keep funds moving.

Unlimited digital transfers
Does not charge overdraft fees
Large ATM network

Limited physical locations
Monthly account fee
Out-of-network ATM fees

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

U.S. Bank: Best For Loan Opportunity

Interest Rates: 0.01% APY

★★★★★

4.5

Being one of the largest and oldest banks in the United States, U.S Bank boasts thousands of branches and ATMs outlets, with hundreds of branches in Maryland.

In addition to that, they currently offer all the transaction features and methods every small business owner might be looking for.

This goes from offering savings, checking, and money market account to CDs and credit card services.

The good news for business owners is that they have access to quick loans of up to $250,000 and long-term loans of up to $1 million for scaling their businesses.

Why we chose it: Small businesses in need of extra funds can turn to U.S. Bank for a plethora of lending options.

Lending to fit your needs
Specialized merchant services for restaurants, retailers, and service providers
2,400 branch locations

Charges for overdrafts
Relatively low APY
Only has locations in 28 states

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Bank of America: Best for Tracking Multiple Financial Data

Interest Rates: Up to 0.04% APY

★★★★★

4.4

Small business owners using Bank of America enjoy a wide range of special services. Firstly, they offer numerous powerful digital business management tools such as Zelle, Cash Flow Monitor, and Mobile Check Deposit for helping business owners manage and track all their business transactions in one place.

Then, they offer zero fees for incoming wire transfers. And account owners have the opportunity to win a $200 cash bonus if they make a $5000 deposit within their first 30 days of opening an account.

Why we chose it: Bank of America’s rewards come with several perks to make banking a win-win for all parties involved.

Preferred rewards to boost interest rate
Over 17,000 ATMs and 4,300 branches
Can waive the monthly fee

Lacks 24/7 customer service
Monthly fees
Transaction fees when using non-Bank of America ATMs

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Axos: Best For High APY Interest Rate

4.61

★★★★★

Axos is one of the highest-rated banks for small business owners, because of its effortless banking features, and wide range of interest provisions for various types of businesses including Non-profits.

Their business checking account interest rate is as high as 1.01% APY, while their Saving, Premium Saving, Money Market, and Non-Profit Money Market accounts attract up to 0.20% APY respectively.

They also offer zero monthly maintenance costs and provide treasury management for high-volume transactions.

Why we chose it: Free cash deposits and a low fee structure make Axos Basic Business Checking one of the best business bank accounts out there.

No monthly fee and unlimited transactions.
Unlimited domestic ATM fee reimbursements.
Cash deposits via MoneyPass and AllPoint ATMs.
Welcome bonus for new customers (terms apply).
24/7 customer support.

No third-party app integrations.
Low CD rate

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Lili: Best for Managing and Tracking Daily Transactions

4.57

★★★★★

Lili bank serves as a one-stop shop for small business owners’ needs such as banking, accounting, and taxes.

With their online banking app that is available for both desktop and mobile devices, users have access to tons of built-in account management tools.

Some of these banking tools include invoicing software, write-off tracker, automatic tax saver, and credit cards.

In addition, Lili has zero monthly deposit and maintenance fees, and you can do 100% of banking transactions online.

No fees, minimum balance requirements, or minimum opening deposit.
Unlimited fee-free transactions.
Fee-free ATM access through the MoneyPass network; ability to deposit cash through the Green Dot network.
Integrated tools for managing expenses and planning for taxes.
Offers an early payment feature with direct deposit, allowing you to receive funds up to two days sooner than you might with a traditional bank account.

Cash deposits at Green Dot locations incur a fee of up to $4.95 per deposit.
No checkbooks; can’t send or receive wire transfers.
Limited business-related features, e.g., doesn’t offer joint accounts, multiple business debit cards, or third-party integrations.

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Oxygen: Best For Freelancers

4.0

★★★★★

Oxygen is the best bank for entrepreneurs such as freelancers that do not need physical banking. This fully online bank has tons of transactional features like online bill pay, early direct deposit, peer-to-peer transfers, and mobile check deposit.

They also have zero monthly maintenance fees, and users can create virtual cards/single-use debit cards for their online shopping needs. With Oxygen apps, users can check spending insights to help them track their finances.

Why we chose it: Oxygen speaks the language of the trendy business owner, offering some cool banking features along the way. It’s also one of the best checking accounts for sole proprietors.

Aimed at trendy business owners
5% Cashback rewards
Create virtual, single-use debit cards

Virtual bank, no cash deposits
Fewer integrations than other options
No lending options

Fees

Interest Rates

Minimum Balance

Mobile Banking Features

Chase: Best For Bonus Reward Processing

Interest Rates: Up to 0.02% APY

★★★★★

4.2

Chase Bank has tons of stellar features built with small business owners in mind. From unlimited debit card purchases and Chase ATM transactions to multiple ways for business owners to send and receive funds. They also offer online banking services and provide ways for their users to waive monthly maintenance fees.

In addition to a whopping $750 bonus cash-back feature, Chase also offers a $300 bonus on signups.

Why we chose it: Chase adds a long list of merchant services to its traditional banking to help your business succeed.

Several available merchant services
Multiple ways to waive the monthly maintenance fee
$300 sign-on bonus

Monthly maintenance fees
Only 20 free transactions per month
Minimal APY

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Methodology for the Best Banks for Small Businesses in Maryland

Here is an in-depth breakdown of the methodologies we employed in selecting the best bank for small business owners in Maryland.

Fees: Small businesses often have to count every penny. Using a bank that nickels and dimes you for every little thing can quickly run your account dry. We looked for banks without maintenance fees or at least the option to waive said charge with a few simple steps. It was also crucial to locate institutions that minimize costs for transactions and transfers that every business needs to perform.
Interest Rates: We realize business bank accounts function primarily for organization and making payments, but that doesn’t mean you can’t earn a little interest on the side. Between checking and savings accounts, we called out banks offering easily accessible rates you can use for some extra cash. Some options even go well beyond the national average.
Minimum Balance: Banks with maintenance fees will often waive them if you have enough money in said account. Small businesses may not have a lot of money to work with early on, so we identified institutions with low balance requirements to avoid fees. Some banks also have account minimums to unlock interest rates or other rewards.
Access to Mobile Banking: In our fast-paced world, having all your banking needs at your fingertips is a huge win. Mobile devices also played a role in the emergence of online-only banks with accounts you can access from anywhere. Even banks traditionally known for physical locations are amping up mobile apps to compete with the masses. Our selections highlight banks with top-tier mobile banking options to manage finances and make payments.
Ease of Use: When making our top banking for small business picks, we wanted to ensure features were straightforward to use. This applies to everything from transfers and payments to opening a business bank account with nothing more than an EIN. No bank account should be more trouble than it’s worth.

Bottom Line

Opening a bank account in Maryland has never been easier for business owners. With all the various options which we have listed from brick-and-mortar banks to fully-online banking apps, Maryland small business owners can quickly set up the right payment options for their business.

Best Business Bank Accounts by State

Below you will find an interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area.

8 Best Banks for Small Businesses in Michigan in 2023

Man paying for groceries with a POS system

As a small business in Michigan the importance of a banking partner cannot be overstated. A reliable banking partner is critical for the growth of your business, therefore you need to choose a bank that offers services that align with your business goals. We have selected the best banks for small businesses in Michigan that are worth checking out.

Read on to find out which of these banks will best serve your business goals, and why the bank made our list of best banks for small businesses in Michigan.

Best Banks for Small Businesses in Michigan

Bluevine – Best Bank for High-interest
Capital One – Best Bank for Unlimited Transactions processing
Lili – Best for a sole proprietorship business
U.S. Bank – Best Bank for Quick Business Loans
Oxygen – Best Bank for Cashback Rewards
Axos – Best Bank for Amazing Customer Service Support
Bank of America – Best Bank for Credit Card Rewards
Chase Bank – Best Bank for Business Management Services

Our Methodology

In researching thoroughly for the best bank for small businesses in Michigan, we considered the fees charged by each bank, the minimum balance requirement, maintenance cost and sure transfer fees. We also considered the yield interest rates, mobile banking features, online banking provision, incentives and integrations of the banks we selected.

Click here for a more detailed explanation of our methodology.

Bluevine

$4.95 per cash deposit, $2.50 for out-of-network ATM fees, $15 for outgoing wires

2.0% APY

Pay vendors by wire or check, schedule payments, manage cash flow

Capital One

$15 (waivable)

$15 per incoming domestic wire, $25 for outgoing domestic wire

0.20% APY

$2,000

Access credit card accounts, transfer money, deposit checks, access bank statements, access to CreditWise service

U.S. Bank

$0.50 fee for transactions after the first 125, fees at out-of-network ATMs

0.01% APY

$500 for business savings

Transfer funds, view documents, find branch/ATM locations, manage cards

Bank of America

$16

Out-of-network ATM fees, fees for excessive deposits

Up to 0.04% APY

$5,000

Manage accounts, pay and transfer, digital wallets, bill pay

Lili

$2.5 for out of network

1.50% APY

Manage finances and payments, control expenses, and save money for taxes

Chase

$15 (waivable)

$25 to $40 for wire transfers, $0.40 per transaction (after the first 20)

Up to 0.02% APY

Fraud monitoring, card control, pay, and transfer, view offers

Axos

$35 for wire transfer

–

Fund transfer, wire transfer, bill payment.

Oxygen

$3 for out-of-network ATM fee, fees for international transactions, $5 international ATM fee, fees for Ingo mobile check deposit

1.0% APY

Check deposit, bill payment, check deposit, account statement

Bluevine: Best Bank for High-interest

Interest Rates: 2.0% APY

★★★★★

4.7

BlueVine offers high yield interest rates that are very suited for small businesses in Michigan. Bluevine works very well as a banking partner for business because of its high yield interest offer and no maintenance or transaction fee policy. Bluevine offers businesses an easy to use and navigate business checking account. Bluevine also offers mobile banking services to its customers.

Why we chose it: High interest rates, minimal fees, and a lack of maintenance requirements make Bluevine the best business bank account for LLCs or other business types.

High-interest rates
Very few fees
No minimum deposit required

No business savings account
No ATM reimbursement
Fee for cash deposits

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Capital One: Best Bank for Unlimited Transactions Processing

Interest Rates: 0.20% APY

★★★★★

4.6

Capital One is a highly suitable bank for small businesses in Michigan. The bank offers a robust range of services, features and tools that help business financing growth.

Capital One offer unlimited free transactions processing to businesses, business savings, low and removable maintenance fees, quick access to credit lines and credit cards. Capital One is available on mobile meaning you do not have to always visit a physical branch to get things done.

Why we chose it: With no limits on digital transfers, Capital One gives you the freedom to keep funds moving.

Unlimited digital transfers
Does not charge overdraft fees
Large ATM network

Limited physical locations
Monthly account fee
Out-of-network ATM fees

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

U.S. Bank: Best Bank for Quick Business Loans

Interest Rates: 0.01% APY

★★★★★

4.5

U.S. Bank is the bank to go to for small businesses when it comes to loans and business credit. U.S Bank is known for its quick loan offers to small businesses in Michigan and across the US. The interest rate on loans given to small businesses is reasonably low, to allow for growth of the businesses.

U.S Bank offers other benefits such as merchant services, a wide national reach and a vast network of ATMs for cash and other service needs. U.S Bank also offers competitive yield rates to its customers.

Why we chose it: Small businesses in need of extra funds can turn to U.S. Bank for a plethora of lending options.

Lending to fit your needs
Specialized merchant services for restaurants, retailers, and service providers
2,400 branch locations

Charges for overdrafts
Relatively low APY
Only has locations in 28 states

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Bank of America: Best Bank for Credit Card Rewards

Interest Rates: Up to 0.04% APY

★★★★★

4.4

Bank of America is the merchant bank for small businesses in Michigan, the bank offers services that help the growth and expansion of small businesses.

Bank of America offers several reward programs such as fee waivers that help businesses to cut down on expenses. The bank offers mobile banking and internet banking that enables business owners to access and transact from their accounts from anywhere.

Why we chose it: Bank of America’s rewards come with several perks to make banking a win-win for all parties involved.

Preferred rewards to boost interest rate
Over 17,000 ATMs and 4,300 branches
Can waive the monthly fee

Lacks 24/7 customer service
Monthly fees
Transaction fees when using non-Bank of America ATMs

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Axos: Best Bank for Amazing Customer Service Support

4.7

★★★★★

Axos is a full service user-friendly online bank for small businesses in Michigan. Axos offers amazing 24/7 customer service support, meaning that small businesses will not be left stranded to their complaints. Axos is suited for small businesses in Michigan because it charges little or no fees for transactions, no minimum balance for maintenance, zero monthly fees, and no ATM transaction charges.

Axos provides businesses with tools for tracking activities such as deposit and withdrawals in their bank account. This tracking is done automatically removing the burden from you. Small businesses in Michigan have access to a free business checking account.

Why we chose it: Free cash deposits and a low fee structure make Axos Basic Business Checking one of the best business banks accounts out there.

No monthly fee and unlimited transactions.
Unlimited domestic ATM fee reimbursements.
Cash deposits via MoneyPass and AllPoint ATMs.
Welcome bonus for new customers (terms apply).
24/7 customer support.

No third-party app integrations.
Interest checking APY is good, but not great

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Lili: Best for a Sole Proprietorship Business

4.6

★★★★★

Lili Bank is built to provide small businesses with the best of operating conditions and access to capital. Lili offers low fee accounts, account tracking, auto saving, and several other business management tools.

Lili offers free business checking accounts online, with no monthly fees and minimum operating balance. Lili is has a user friendly interface regardless of the platform you are accessing your account from.

No fees, minimum balance requirements, or minimum opening deposit.
Unlimited fee-free transactions.
Fee-free ATM access through the MoneyPass network; ability to deposit cash through the Green Dot network.
Integrated tools for managing expenses and planning for taxes.
Offers an early payment feature with direct deposit, allowing you to receive funds up to two days sooner than you might with a traditional bank account.

Cash deposits at Green Dot locations incur a fee of up to $4.95 per deposit.
No checkbooks; can’t send or receive wire transfers.
Limited business-related features, e.g., doesn’t offer joint accounts, multiple business debit cards, or third-party integrations.

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Oxygen: Best Bank for Cashback Rewards

4.4

★★★★★

Oxygen is the online bank for small businesses in Michigan, the bank offers cashback rewards that help small businesses reduce expenses. Oxygen offers a 5% cashback reward to customers on any purchase made using the oxygen debit card.

With oxygen you do not need to worry about visiting any physical branch, because the bank offers mobile only banking. With oxygen small businesses do not have to pay fees on wire transfers.

Why we chose it: Oxygen speaks the language of the trendy business owner, offering some cool banking features along the way. It’s also one of the best checking accounts for sole proprietors.

Aimed at trendy business owners
5% Cashback rewards
Create virtual, single-use debit cards

Virtual bank, no cash deposits
Fewer integrations than other options
No lending options

Fees

Interest Rates

Minimum Balance

Mobile Banking Features

Chase: Best Bank for Business Management Services

Interest Rates: Up to 0.02% APY

★★★★★

4.2

Chase Bank offers small businesses in Michigan robust merchant services. Chase provides Michigan small businesses with substantial credit lines, and development other benefits such as banking convenience and tools for business management. Business account owners on chase have access to robust systems for payment processing. You can get up to $300 bonus for signing up for an account on chase as a business.

Why we chose it: Chase adds a long list of merchant services to its traditional banking to help your business succeed.

Several available merchant services
Multiple ways to waive the monthly maintenance fee
$300 sign-on bonus

Monthly maintenance fees
Only 20 free transactions per month
Minimal APY

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Methodology for the Best Banks for Small Businesses in Michigan

To select the best banks for small businesses in Michigan we considered several factors in our decision making including:

Fees: Small businesses often have to count every penny. Using a bank that nickels and dimes you for every little thing can quickly run your account dry. We looked for banks without maintenance fees or at least the option to waive said charge with a few simple steps. It was also crucial to locate institutions that minimize costs for transactions and transfers that every business needs to perform.
Interest Rates: We realize business bank accounts function primarily for the purpose of organization and making payments, but that doesn’t mean you can’t earn a little interest on the side. Between checking and savings accounts, we called out banks offering easily accessible rates you can use for some extra cash. Some options even go well beyond the national average.
Minimum Balance: Banks with maintenance fees will often waive them if you have enough money in said account. Small businesses may not have a lot of money to work with early on, so we identified institutions with low balance requirements to avoid fees. Some banks also have account minimums to unlock interest rates or other rewards.
Access to Mobile Banking: In our fast-paced world, having all your banking needs at your fingertips is a huge win. Mobile devices also played a role in the emergence of online-only banks with accounts you can access from anywhere. Even banks traditionally known for physical locations are amping up mobile apps to compete with the masses. Our selections highlight banks with top-tier mobile banking options to manage finances and make payments.
Ease of Use: When making our top banking for small business picks, we wanted to ensure features were straightforward to use. This applies to everything from transfers and payments to opening a business bank account with nothing more than an EIN. No bank account should be more trouble than it’s worth.

Best Banks for Small Business in Michigan Frequently Asked Questions (FAQs)

If you are a small business owner in Michigan, these FAQs will answer some more of the questions you may have.

What are the requirements to open a business account in Michigan?

If you wish to open a business bank account in Michigan, you are required to have your business documents, personal identification of the business owners/authorized signers, and a minimum deposit if the bank requires it. Some banks may also require additional documentation such as your business plan or proof of address.

Can I open a bank account with my EIN number?

Can I open a bank account without an SSN in Michigan?

You can open an account without SSN in Michigan, this may be difficult to achieve. You can also apply for the ITN from the IRS to enable you open an account. It is up to a bank which identification means to accept according to the state laws for account opening.

How much should a small business have in a bank account?

Bottom Line

In Choosing your banking services provider as a small business you have to thoroughly think through your choice of a bank. This may be challenging but it is worth it, to avoid choosing a bank that can mar your business. We chose Bluevine as a top bank for small businesses in Michigan, however you can choose any of the other banks in this roundup.

These banks we have in our roundup offer low fees, no minimum balance, cashback rewards, and many more. If you have a small business in Michigan any of these banks will help your business in financing and growth.

Best Business Bank Accounts by State

Below you will find an interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area.

8 Best Banks for Small Businesses in Mississippi in 2023

Launching a small business in Mississippi can be tricky, especially for new entrepreneurs. However, when you use the right financial institution, it can help remove some of the problems you might face. The best banks in Mississippi provide many facilities and functions which will help your business stay in good shape. If you want a reliable banking partner for your small business, read on.

Best Banks for Small Businesses in Mississippi

Bluevine: Best Overall Bank for Freelancers, startups, and remote workers
Capital One: Best Bank for Excellent Digital Experience
Lili: Best Bank for SBA Loans and Credit Lines
U.S. Bank: Best Bank for Multiple Checking Options
Oxygen: Best for simple Mobile Access
Axos: Best Bank for Customer services in Mississippi
Bank of America: Best Bank for High-Volume Transactions
Chase Bank: Best Bank for Low Fees

Our Methodology

To determine the best banks for small businesses in Mississippi, we considered the account maintenance cost, minimum balance requirement, and other benefits. We also examined any extra charges placed on businesses by any of the examined banks. Finally, we reviewed the availability of mobile and internet banking functions provided by each bank.

Click here for a more detailed explanation of our methodology.

Bluevine

$4.95 per cash deposit, $2.50 for out-of-network ATM fees, $15 for outgoing wires

2.0% APY

Pay vendors by wire or check, schedule payments, manage cash flow

Capital One

$15 (waivable)

$15 per incoming domestic wire, $25 for outgoing domestic wire

0.20% APY

$2,000

Access credit card accounts, transfer money, deposit checks, access bank statements, access to CreditWise service

U.S. Bank

$0.50 fee for transactions after the first 125, fees at out-of-network ATMs

0.01% APY

$500 for business savings

Transfer funds, view documents, find branch/ATM locations, manage cards

Bank of America

$16

Out-of-network ATM fees, fees for excessive deposits

Up to 0.04% APY

$5,000

Manage accounts, pay and transfer, digital wallets, bill pay

Lili

$2.5 for out of network

1.50% APY

Manage finances and payments, control expenses, and save money for taxes

Chase

$15 (waivable)

$25 to $40 for wire transfers, $0.40 per transaction (after the first 20)

Up to 0.02% APY

Fraud monitoring, card control, pay, and transfer, view offers

Axos

$35 for wire transfer

–

Fund transfer, wire transfer, bill payment.

Oxygen

$3 for out-of-network ATM fee, fees for international transactions, $5 international ATM fee, fees for Ingo mobile check deposit

1.0% APY

Check deposit, bill payment, check deposit, account statement

Bluevine: Best Overall Bank for Freelancers, Startups, and Remote Workers

Interest Rates: 2.0% APY

★★★★★

4.7

Bluevine is one of the top FDIC-insured online banks in Mississippi. They cater to all small and mid-sized businesses that want a trusted banking option. As an account holder, you can enjoy 50 free transactions monthly, and it’s popular among e-commerce owners and freelancers. You don’t need a monthly fee or minimum balance to get your interest.

They offer business accounts which include savings and checking. It offers regular perks worth thousands of thousands which should attract small businesses. You can easily integrate them into business apps such as Quickbooks, Shopify, and slack.

Why we chose it: High-interest rates, minimal fees, and a lack of maintenance requirements make Bluevine the best business bank account for LLCs or other business types.

High-interest rates
Very few fees
No minimum deposit required

No business savings account
No ATM reimbursement
Fee for cash deposits

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Capital One: Best Bank for Excellent Digital Experience

Interest Rates: 0.20% APY

★★★★★

4.6

Capital One is an ideal choice for small business entrepreneurs in Mississippi who want a good digital service. While some banks charge a fee after reaching your sales limit monthly, Capital One offers incentives to businesses that have huge transactions monthly.

Capital One provides two business accounts that will interest you: Basic Checking and Unlimited Checking accounts. You don’t need an opening deposit to start using the account and they also offer free local wire transfers. There are also many businesses’ credit card options with many cashback rewards.

Why we chose it: With no limits on digital transfers, Capital One gives you the freedom to keep funds moving.

Unlimited digital transfers
Does not charge overdraft fees
Large ATM network

Limited physical locations
Monthly account fee
Out-of-network ATM fees

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

U.S. Bank: Best Bank for Multiple Checking Options

Interest Rates: 0.01% APY

★★★★★

4.5

U.S. Bank is another perfect choice for small business operators in Mississippi who seek a good banking service with multiple options. They offer a fee-free business checking account with multiple incentives to keep their customers happy.

Business accounts you can open include: Silver Business Account (zero monthly fees, 120 free monthly transactions), a Gold business account ($20 monthly fee, low service fee, 320 free monthly transactions), and Platinum Business checking Account ($30 monthly fee, low maintenance fee, 600 free transactions monthly).

Why we chose it: Small businesses in need of extra funds can turn to U.S. Bank for a plethora of lending options.

Lending to fit your needs
Specialized merchant services for restaurants, retailers, and service providers
2,400 branch locations

Charges for overdrafts
Relatively low APY
Only has locations in 28 states

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Bank of America: Best Bank for High-Volume Transactions

Interest Rates: Up to 0.04% APY

★★★★★

4.4

Bank of America provides great financial solutions to small business owners in Mississippi who deal in huge amounts of transactions. You could take advantage of their business advantage checking account which will Simplify cash transfers to your customers. This is a nice option for businesses seeking SBA loans, credit lines, and other credit facilities to help their business.

Also, they have hundreds of physical branches and ATM locations across the state. They provide unique cash flow management and monitoring projections for your business. The mobile app can easily be integrated with most business apps.

Why we chose it: Bank of America’s rewards come with several perks to make banking a win-win for all parties involved.

Preferred rewards to boost interest rate
Over 17,000 ATMs and 4,300 branches
Can waive the monthly fee

Lacks 24/7 customer service
Monthly fees
Transaction fees when using non-Bank of America ATMs

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Axos: Best Bank for Customer services in Mississippi

4.58

★★★★★

Axos is a digital bank that offers various business benefits to entrepreneurs in Mississippi. Their customer service is great, as they can be contacted by email, phone, and instant message. They have a free business checking account known as Axos Basic business account. This online bank also offers business loans, Cashback rewards, and Savings accounts.

If you want an upgraded business account, you could open a business interest checking account which allows more transactions but requires a minimum of $5k monthly. They offer simple cash deposits via Money pass and Airpoint ATMs all over the out and support unlimited transactions.

Why we chose it: Free cash deposits and a low fee structure make Axos Basic Business Checking one of the best business bank accounts out there.

No monthly fee and unlimited transactions.
Unlimited domestic ATM fee reimbursements.
Cash deposits via MoneyPass and AllPoint ATMs.
Welcome bonus for new customers (terms apply).
24/7 customer support.

No third-party app integrations.
Interest checking APY is good, but not great

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Lili: Best Bank for SBA Loans and Credit Lines

4.51

★★★★★

Lili is a trusted FDIC-insured bank that small businesses in Mississippi who want SBA loans and credit lines should consider. They don’t charge an opening fee and offer Checking and savings accounts to small businesses. They have easy credit facilities for businesses with high transactions. You could contact their customer support team anytime you wish and they have several ATM locations scattered across the state.

Why Lili is a Good Choice: Lili offers flexible loans which many small businesses in Mississippi need to expand their businesses. You can also easily integrate your business apps into their mobile app without problems. Their customer team operates a 24/7 team which is what a reliable finance company should have. When seeking an online best business checking account with unlimited transactions, Lili comes good.

No fees, minimum balance requirements, or minimum opening deposit.
Unlimited fee-free transactions.
Fee-free ATM access through the MoneyPass network; ability to deposit cash through the Green Dot network.
Integrated tools for managing expenses and planning for taxes.
Offers an early payment feature with direct deposit, allowing you to receive funds up to two days sooner than you might with a traditional bank account.

Cash deposits at Green Dot locations incur a fee of up to $4.95 per deposit.
No checkbooks; can’t send or receive wire transfers.
Limited business-related features, e.g., doesn’t offer joint accounts, multiple business debit cards, or third-party integrations.

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Oxygen: Best for Easy Mobile Access

4.5

★★★★★

Oxygen is one of the best Internet-only banks in Mississippi. They are the perfect choice for Freelancers, entrepreneurs, and small business operators in the city. You could download their app on IOS and android phones. They have been around for offering checking and savings accounts to people who want a stress-free banking system. Their mobile access doesn’t encounter bugs as you can check your transaction history easily.

Why we chose it: Oxygen speaks the language of the trendy business owner, offering some cool banking features along the way. It’s also one of the best checking accounts for sole proprietors.

Aimed at trendy business owners
5% Cashback rewards
Create virtual, single-use debit cards

Virtual bank, no cash deposits
Fewer integrations than other options
No lending options

Fees

Interest Rates

Minimum Balance

Mobile Banking Features

Chase: Best Bank for Low Fees

Interest Rates: Up to 0.02% APY

★★★★★

4.2

Chase bank is one of the biggest banks with low fees in the country. They have more than 3000 branches in the whole country. If you are a business owner in Mississippi who doesn’t want to be disturbed by high maintenance fees, you can open a Chase business account today to make your finances easier.

They don’t require a minimum to open the account and we will waive a monthly service fee if you have a 2k daily balance. Customers are entitled to a business credit card and several loan facilities which can be paid in structures.

Why we chose it: Chase adds a long list of merchant services to its traditional banking to help your business succeed.

Several available merchant services
Multiple ways to waive the monthly maintenance fee
$300 sign-on bonus

Monthly maintenance fees
Only 20 free transactions per month
Minimal APY

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Methodology for the Best Banks for Small Businesses in Mississippi

When looking for the best banks for small businesses in Mississippi, we considered several factors. These are the methodologies that we considered before arriving at this roundup:

Fees: Small businesses often have to count every penny. Using a bank that nickels and dimes you for every little thing can quickly run your account dry. We looked for banks without maintenance fees or at least the option to waive said charge with a few simple steps. It was also crucial to locate institutions that minimize costs for transactions and transfers that every business needs to perform.
Interest Rates: We realize business bank accounts function primarily for organization and making payments, but that doesn’t mean you can’t earn a little interest on the side. Between checking and savings accounts, we called out banks offering easily accessible rates you can use for some extra cash. Some options even go well beyond the national average.
Minimum Balance: Banks with maintenance fees will often waive them if you have enough money in said account. Small businesses may not have a lot of money to work with early on, so we identified institutions with low balance requirements to avoid fees. Some banks also have account minimums to unlock interest rates or other rewards.
Access to Mobile Banking: In our fast-paced world, having all your banking needs at your fingertips is a huge win. Mobile devices also played a role in the emergence of online-only banks with accounts you can access from anywhere. Even banks traditionally known for physical locations are amping up mobile apps to compete with the masses. Our selections highlight banks with top-tier mobile banking options to manage finances and make payments.
Ease of Use: When making our top banking for small business picks, we wanted to ensure features were straightforward to use. This applies to everything from transfers and payments to opening a business bank account with nothing more than an EIN. No bank account should be more trouble than it’s worth.

Best Banks for Small Businesses in Mississippi – Frequently Asked Questions (FAQs)

Are you interested in opening a business bank account in Mississippi to improve your business? Here are some useful FAQs and necessary answers.

What do you need to open a business bank account in Mississippi?

The requirements to open a business bank account in Mississippi differ from bank to bank. However, the best banks for small businesses in the city will usually ask for your Social security number, a mode of identification, your business documents, and ownership agreements.

Can I open a bank account with my EIN number?

How long does opening a business bank account in Mississippi take?

It normally takes between 1 to 3 weeks for a business account to be opened successfully. This is because the bank needs to verify your documents, confirm your identity and contact the references you have provided. However, if you have an account with the bank before, these processes can be faster.

How much should a small business have in a bank account?

Bottom Line

All small businesses in Mississippi that want to be successful and grow need a reliable bank they can partner with. These banks offer local businesses some major incentives which include low fees, easy transfer options, and 24/7 customer support. The best banks for small businesses in Mississippi are recommended because they are reliable, trustworthy, and your best chance to make your business a success.

Best Business Bank Accounts by State

Below you will find an interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area.

8 Best Banks for Small Businesses in Nevada in 2023

Starting a small business can be exciting and challenging at the same time. Picking the right banking partner is essential to minimise some of these challenges. A good banking partner should help secure your financial future by offering the right tools and resources to help grow your business.

We have compiled a detailed list of the best 8 banks for small businesses in Nevada for 2023. Our top banks in Nevada offer excellent services, products, and features to ensure your monetary affairs are in an excellent state. Keep reading this guide to find out more information and details.

Best Banks for Small Businesses in Nevada

Bluevine: Best Overall Bank for Small Businesses in Nevada
Capital One: Best Bank for Small Businesses in Nevada for Easy Banking
U.S. Bank: Best Bank for Its Quality Customer Service
Bank of America: Best Bank for Small Businesses in Nevada for Merchant Services
Axos: Best Bank for Financial Products
Lili: Best Business Checking Account for Digital Banking
Oxygen: Best No-free Business Checking Account
Chase Business: Best Bank for Small Businesses in Nevada for Its Lines of Credit

Our Methodology

When selecting the best banks in Nevada, we covered several aspects. First, we examined the service fee for opening a business account and the minimum balance required to avoid those fees. We also considered the banking features of these banks, including the ease of banking.

Consideration was also given to these banks’ rates, security features, and overall functionality. These considerations helped us identify the best banks for small businesses in Nevada in 2023.

Click here for a more detailed explanation of our methodology.

Bluevine

$4.95 per cash deposit, $2.50 for out-of-network ATM fees, $15 for outgoing wires

2.0% APY

Pay vendors by wire or check, schedule payments, manage cash flow

Capital One

$15 (waivable)

$15 per incoming domestic wire, $25 for outgoing domestic wire

0.20% APY

$2,000

Access credit card accounts, transfer money, deposit checks, access bank statements, access to CreditWise service

U.S. Bank

$0.50 fee for transactions after the first 125, fees at out-of-network ATMs

0.01% APY

$500 for business savings

Transfer funds, view documents, find branch/ATM locations, manage cards

Bank of America

$16

Out-of-network ATM fees, fees for excessive deposits

Up to 0.04% APY

$5,000

Manage accounts, pay and transfer, digital wallets, bill pay

Lili

$2.5 for out of network

1.50% APY

Manage finances and payments, control expenses, and save money for taxes

Chase

$15 (waivable)

$25 to $40 for wire transfers, $0.40 per transaction (after the first 20)

Up to 0.02% APY

Fraud monitoring, card control, pay, and transfer, view offers

Axos

$35 for wire transfer

–

Fund transfer, wire transfer, bill payment.

Oxygen

$3 for out-of-network ATM fee, fees for international transactions, $5 international ATM fee, fees for Ingo mobile check deposit

1.0% APY

Check deposit, bill payment, check deposit, account statement

Bluevine: Best Overall Bank for Small Businesses in Nevada

Interest Rates: 2.0% APY

★★★★★

4.7

Bluevine offers excellent credit lines and loans for small businesses in Nevada. These loans are given at business-friendly rates and have an easy repayment structure. Also, their mobile banking provides an easy and flexible way to transfer funds and manage your account from anywhere.

Their financing options are secure and business-friendly, making them suitable for small businesses. Plus, they offer quality customer service to address the needs and concerns of users.

Why we chose it: High-interest rates, minimal fees, and a lack of maintenance requirements make Bluevine the best business bank account for LLCs or other business types.

High-interest rates
Very few fees
No minimum deposit required

No business savings account
No ATM reimbursement
Fee for cash deposits

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Capital One: Best Bank for Small Businesses in Nevada for Easy Banking

Interest Rates: 0.20% APY

★★★★★

4.6

If you want innovative and easy banking, choose Capital One Bank. With their user-friendly mobile banking, you can easily carry out financial transactions in your comfort. Plus, you can easily access loans with competitive rates and business-friendly repayment structures.

You can access several payment gateways with merchant services, including point-of-sale (POS) services. Additionally, they make banking fun by offering cashback and travel rewards.

Why we chose it: With no limits on digital transfers, Capital One gives you the freedom to keep funds moving.

Unlimited digital transfers
Does not charge overdraft fees
Large ATM network

Limited physical locations
Monthly account fee
Out-of-network ATM fees

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

U.S. Bank: Best Bank for Its Quality Customer Service

Interest Rates: 0.01% APY

★★★★★

4.5

U.S. Bank offers quality customer service to small businesses in Nevada. This ensures that the needs and concerns of small business owners are addressed quickly. With their various deposit accounts and financial products, customers can be guaranteed effective management of their accounts. Also, with their vast network of ATMs, owners can access their accounts and other services from anywhere in Nevada.

Why we chose it: Small businesses in need of extra funds can turn to U.S. Bank for a plethora of lending options.

Lending to fit your needs
Specialized merchant services for restaurants, retailers, and service providers
2,400 branch locations

Charges for overdrafts
Relatively low APY
Only has locations in 28 states

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Bank of America: Best Bank for Small Businesses in Nevada for Merchant Services

Interest Rates: Up to 0.04% APY

★★★★★

4.4

Bank of America offers excellent merchant services for small businesses in Nevada. This provides small business owners access to effortless payment, including point-of-sale (POS) service, credit cards, and debit cards. With this, customers can easily pay bills or purchases through various payment gateways.

They offer their customers high-level financial security with fraud protection and cash management solutions. They also make banking a win-win for everyone by offering exciting rewards for using a service.

Why we chose it: Bank of America’s rewards come with several perks to make banking a win-win for all parties involved.

Preferred rewards to boost interest rate
Over 17,000 ATMs and 4,300 branches
Can waive the monthly fee

Lacks 24/7 customer service
Monthly fees
Transaction fees when using non-Bank of America ATMs

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Axos: Best Bank for Financial Products

4.61

★★★★★

Axos Bank offers excellent financial products and services to small businesses in Nevada. Also, they are FDIC-insured, which means your funds are secure once you bank with Axos Bank. They also offer two checking accounts; Basic Business Checking and Business Interest Checking accounts.

The basic is free, while there is a monthly fee of $10 on the Interest-bearing account. This interest can be waived by maintaining an average daily balance of $5000.

Why we chose it: Free cash deposits and a low fee structure make Axos Basic Business Checking one of the best business bank accounts out there.

No monthly fee and unlimited transactions.
Unlimited domestic ATM fee reimbursements.
Cash deposits via MoneyPass and AllPoint ATMs.
Welcome bonus for new customers (terms apply).
24/7 customer support.

No third-party app integrations.
Interest checking APY is good, but not great

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Lili: Best Business Checking Account for Digital Banking

4.57

★★★★★

Lili Bank is an excellent pick for small businesses looking for business-friendly online checking accounts. With their excellent digital banking platforms, multiple transactions can occur simultaneously. Plus, their user-friendly digital service allows customers to transact and access their funds anywhere in Nevada.

No fees, minimum balance requirements, or minimum opening deposit.
Unlimited fee-free transactions.
Fee-free ATM access through the MoneyPass network; ability to deposit cash through the Green Dot network.
Integrated tools for managing expenses and planning for taxes.
Offers an early payment feature with direct deposit, allowing you to receive funds up to two days sooner than you might with a traditional bank account.

Cash deposits at Green Dot locations incur a fee of up to $4.95 per deposit.
No checkbooks; can’t send or receive wire transfers.
Limited business-related features, e.g., doesn’t offer joint accounts, multiple business debit cards, or third-party integrations.

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Oxygen: Best No-free Business Checking Account

4.0

★★★★★

Oxygen offers no-free banking for small businesses in Nevada. This means customers are charged zero monthly service fees and no minimum balance on their accounts. Also, with merchant services, customers can access different payment methods, including direct transfers, mobile check deposits, and mobile transfers. Plus, with their mobile banking, you can access and manage your account anywhere.

Why we chose it: Oxygen speaks the language of the trendy business owner, offering some cool banking features along the way. It’s also one of the best checking accounts for sole proprietors.

Aimed at trendy business owners
5% Cashback rewards
Create virtual, single-use debit cards

Virtual bank, no cash deposits
Fewer integrations than other options
No lending options

Fees

Interest Rates

Minimum Balance

Mobile Banking Features

Chase: Best Bank for Small Businesses in Nevada for Its Lines of Credit

Interest Rates: Up to 0.02% APY

★★★★★

4.2

Chase Bank stands out for its exceptional merchant services and credit line options. Also, they make banking fun by offering users rewards, including travel rewards and cashback. With their widespread branches, customers can easily access cash anywhere in Nevada. Chase bank also offers high-quality financial protection with its fraud detection systems. Additionally, the account opening process is simple, and their requirements are minimal.

Why we chose it: Chase adds a long list of merchant services to its traditional banking to help your business succeed.

Several available merchant services
Multiple ways to waive the monthly maintenance fee
$300 sign-on bonus

Monthly maintenance fees
Only 20 free transactions per month
Minimal APY

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Methodology for the Best Banks for Small Businesses in Nevada

To pick the best 8 banks for small businesses in Nevada, we considered key aspects of opening and managing a business bank account. These key factors include:

Fees: Small businesses often have to count every penny. Using a bank that nickels and dimes you for every little thing can quickly run your account dry. We looked for banks without maintenance fees or at least the option to waive said charge with a few simple steps. It was also crucial to locate institutions that minimise costs for transactions and transfers that every business needs to perform.
Interest Rates: We realise business bank accounts function primarily for organisation and making payments, but that doesn’t mean you can’t earn a little interest on the side. Between checking and savings accounts, we called out banks offering easily accessible rates you can use for some extra cash. Some options even go well beyond the national average.
Minimum Balance: Banks with maintenance fees will often waive them if you have enough money in said account. Small businesses may not have a lot of money to work with early on, so we identified institutions with low balance requirements to avoid fees. Some banks also have account minimums to unlock interest rates or other rewards.
Access to Mobile Banking: In our fast-paced world, having all your banking needs at your fingertips is a huge win. Mobile devices also played a role in the emergence of online-only banks with accounts you can access from anywhere. Even banks traditionally known for physical locations are amping up mobile apps to compete with the masses. Our selections highlight banks with top-tier mobile banking options to manage finances and make payments.
Ease of Use: When making our top banking for small business picks, we wanted to ensure features were straightforward to use. This applies to everything from transfers and payments to opening a business bank account with nothing more than an EIN. No bank account should be more trouble than it’s worth.

Best Banks for Small Businesses in Nevada Frequently Asked Questions (FAQs)

Do you have more questions about opening a bank account for your Nevada business? This FAQ has the answers to your questions:

Can I open a bank account with my EIN number?

Is it possible to open a bank account without an SSN in Nevada?

It may be difficult to open a bank account without an SSN in Nevada, but it’s possible. One way is to apply for an ITIN from the IRS, while another is to provide alternative forms of identification. However, it’s up to the bank to decide whether to accept these alternatives. It’s best to check with the bank for their specific requirements.

How much should a small business have in a bank account?

Bottom Line

Opening a business bank account for small businesses in Nevada has several advantages. These include ease of banking, access to loans and credit lines, merchant services, and rewards. They offer exceptional security, efficient online banking systems, and excellent customer service. These banks help to fulfil the financial needs of small businesses in Nevada.

Best Business Bank Accounts by State

Below you will find an interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area.

8 Best Banks for Small Businesses in Montana in 2023

Choosing the appropriate bank is important for handling the finances of your small business. Finding a specific banking service that suits your needs might be challenging with so many alternatives available.

We curated a list of the best banks for small businesses in Montana. These reputable banks offer all the resources you require to organize your finances and save money, including individual services, low prices, and more.

Best Banks for Small Businesses in Montana

Bluevine: Best Overall Bank for Small Businesses in Montana
Capital One: Best Bank in Montana with Convenient Online Banking and Business Services
Lili: Best Bank for Small Businesses in Montana with Streamlined Expense Tracking Tools
US Bank: Best Bank in Montana in Terms of Customer Satisfaction and Convenience
Oxygen: The Best Cost-Effective Banking Solution for Small Businesses
Axos: Best Bank In Maximizing Business Earnings with Competitive Business Savings Accounts
Bank of America: Best Bank In Supporting Small Business Growth with a Variety of Funding Options
Chase: Best Bank for Effortlessly Managing Payroll and Direct Deposit for Small Businesses

Our Methodology

To identify the best banks in Montana for small businesses, we analyzed multiple factors. These include account maintenance charges, minimum balance requirements, and additional fees for utilizing bank services. We also took into consideration the interest rates offered to customers.

Furthermore, we evaluated the mobile banking features provided by each bank to ensure convenient and secure banking for our users.

Click here for a more detailed explanation of our methodology.

Bluevine

$4.95 per cash deposit, $2.50 for out-of-network ATM fees, $15 for outgoing wires

2.0% APY

Pay vendors by wire or check, schedule payments, manage cash flow

Capital One

$15 (waivable)

$15 per incoming domestic wire, $25 for outgoing domestic wire

0.20% APY

$2,000

Access credit card accounts, transfer money, deposit checks, access bank statements, access to CreditWise service

U.S. Bank

$0.50 fee for transactions after the first 125, fees at out-of-network ATMs

0.01% APY

$500 for business savings

Transfer funds, view documents, find branch/ATM locations, manage cards

Bank of America

$16

Out-of-network ATM fees, fees for excessive deposits

Up to 0.04% APY

$5,000

Manage accounts, pay and transfer, digital wallets, bill pay

Lili

$2.5 for out of network

1.50% APY

Manage finances and payments, control expenses, and save money for taxes

Chase

$15 (waivable)

$25 to $40 for wire transfers, $0.40 per transaction (after the first 20)

Up to 0.02% APY

Fraud monitoring, card control, pay, and transfer, view offers

Axos

$35 for wire transfer

–

Fund transfer, wire transfer, bill payment.

Oxygen

$3 for out-of-network ATM fee, fees for international transactions, $5 international ATM fee, fees for Ingo mobile check deposit

1.0% APY

Check deposit, bill payment, check deposit, account statement

Bluevine: Best Overall Bank for Small Businesses in Montana

Interest Rates: 2.0% APY

★★★★★

4.7

Small businesses can earn more money on their deposits with high-interest rates on their accounts. BlueVine offers such rates to its small business customers, without any monthly fees. This makes BlueVine a smart choice for small businesses looking to save money and grow their finances.

Why we chose it: High-interest rates, minimal fees, and a lack of maintenance requirements make Bluevine the best business bank account for LLCs or other business types.

High-interest rates
Very few fees
No minimum deposit required

No business savings account
No ATM reimbursement
Fee for cash deposits

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Capital One: Best Bank in Montana with Convenient Online Banking and Business Services

Interest Rates: 0.20% APY

★★★★★

4.6

For small businesses, managing cash flow is essential, and unplanned expenses or cash shortages can result in expensive overdraft fees. Capital One‘s overdraft feature is a useful solution that allows small businesses to avoid these fees and continue their daily operations without disruptions.

By accessing extra funds up to their approved limit through an overdraft line of credit, small businesses can utilize a safety net to manage their finances effectively. This feature is advantageous to small businesses looking to maintain their financial stability and avoid unnecessary expenses.

Why we chose it: With no limits on digital transfers, Capital One gives you the freedom to keep funds moving.

Unlimited digital transfers
Does not charge overdraft fees
Large ATM network

Limited physical locations
Monthly account fee
Out-of-network ATM fees

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

U.S. Bank: Best Bank in Montana in Terms of Customer Satisfaction and Convenience

Interest Rates: 0.01% APY

★★★★★

4.5

Effective financial management is essential for small businesses to succeed. U.S. Bank offers essential tools and services that might support small business owners in this area. These services allow companies to easily handle their finances, receive payments, monitor their accounts, and monitor their expenses.

Why we chose it: Small businesses in need of extra funds can turn to U.S. Bank for a plethora of lending options.

Lending to fit your needs
Specialized merchant services for restaurants, retailers, and service providers
2,400 branch locations

Charges for overdrafts
Relatively low APY
Only has locations in 28 states

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Bank of America: Best Bank In Supporting Small Business Growth with a Variety of Funding Options

Interest Rates: Up to 0.04% APY

★★★★★

4.4

Small businesses need loans to support expansion and ensure their success. Recognizing the importance of loans in the growth of small businesses, Bank of America offers multiple funding options to aid them in achieving their financial goals.

This significant lending expertise of Bank of America enables small business owners to find customized loan solutions to suit their particular requirements.

Why we chose it: Bank of America’s rewards come with several perks to make banking a win-win for all parties involved.

Preferred rewards to boost interest rate
Over 17,000 ATMs and 4,300 branches
Can waive the monthly fee

Lacks 24/7 customer service
Monthly fees
Transaction fees when using non-Bank of America ATMs

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Axos: Best Bank In Maximizing Business Earnings with Competitive Business Savings Accounts

4.61

★★★★★

Small businesses typically need a safe, dependable location to keep their extra cash while generating interest. Businesses at Axos Bank have access to business savings accounts with attractive interest rates, enabling them to increase profits while retaining a secure location to keep their money.

Also, Axos Bank offers adaptable and reasonably priced banking options that are especially created to assist small businesses in achieving their financial objectives.

Why we chose it: Free cash deposits and a low fee structure make Axos Basic Business Checking one of the best business bank accounts out there.

No monthly fee and unlimited transactions.
Unlimited domestic ATM fee reimbursements.
Cash deposits via MoneyPass and AllPoint ATMs.
Welcome bonus for new customers (terms apply).
24/7 customer support.

No third-party app integrations.
Interest checking APY is good, but not great

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Lili: Best Bank for Small Businesses in Montana with Streamlined Expense Tracking Tools

4.57

★★★★★

The success of small enterprises relies greatly on keeping track of costs and managing funds. Lili Bank offers an essential service that assists owners of small businesses in keeping track of their spending and precisely categorizing theirs outlays.

The cost tracker tool from Lili Bank gives small businesses the information they need to make wise financial decisions by allowing them to personalize spending categories, track chargeable expenses, and add notes and tags to each expense entry. Small business owners can quickly access the tool through the Lili Bank mobile app and manage their accounts while on the go.

No fees, minimum balance requirements, or minimum opening deposit.
Unlimited fee-free transactions.
Fee-free ATM access through the MoneyPass network; ability to deposit cash through the Green Dot network.
Integrated tools for managing expenses and planning for taxes.
Offers an early payment feature with direct deposit, allowing you to receive funds up to two days sooner than you might with a traditional bank account.

Cash deposits at Green Dot locations incur a fee of up to $4.95 per deposit.
No checkbooks; can’t send or receive wire transfers.
Limited business-related features, e.g., doesn’t offer joint accounts, multiple business debit cards, or third-party integrations.

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Oxygen: The Best Cost-Effective Banking Solution for Small Businesses

4.0

★★★★★

Small businesses often have tight budgets and every penny counts. That’s why having a banking option with no monthly fees can be incredibly valuable. Oxygen Bank is one such option, offering a no-monthly fee checking account for small businesses. This feature helps businesses save money on banking fees, which can be redirected to other business needs.

Additionally, no monthly fees provide businesses with greater financial predictability, as they won’t have to worry about unexpected expenses or fluctuations in their banking costs.

With Oxygen Bank’s no monthly fee feature, small businesses can access a cost-effective and streamlined banking experience, enabling them to focus on growing their business.

Why we chose it: Oxygen speaks the language of the trendy business owner, offering some cool banking features along the way. It’s also one of the best checking accounts for sole proprietors.

Aimed at trendy business owners
5% Cashback rewards
Create virtual, single-use debit cards

Virtual bank, no cash deposits
Fewer integrations than other options
No lending options

Fees

Interest Rates

Minimum Balance

Mobile Banking Features

Chase: Best Bank for Effortlessly Managing Payroll and Direct Deposit for Small Businesses

Interest Rates: Up to 0.02% APY

★★★★★

4.2

March 24, 2023March 28, 2023

Small businesses can pay staff, suppliers, and other payments easily with the help of Chase Bank‘s direct deposit service. Enabling business owners to plan and automate payments, makes payroll processing simpler and decreases administrative effort.

It saves time and eliminates the need for physical cheques or cash when money is delivered securely and immediately to the recipient’s account through direct deposit. Chase Bank’s direct deposit feature is supported by strong security protocols to protect your transactions.

Why we chose it: Chase adds a long list of merchant services to its traditional banking to help your business succeed.

Several available merchant services
Multiple ways to waive the monthly maintenance fee
$300 sign-on bonus

Monthly maintenance fees
Only 20 free transactions per month
Minimal APY

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Methodology for the Best Banks for Small Businesses in Montana

We evaluated several factors relatinv to opening a business bank account and managing finances to determine the best banks for small businesses in Montana. These key considerations helped us arrive at our conclusions.

Fees: Small businesses often have to count every penny. Using a bank that nickels and dimes you for every little thing can quickly run your account dry. We looked for banks without maintenance fees or at least the option to waive said charge with a few simple steps. It was also crucial to locate institutions that minimize costs for transactions and transfers that every business needs to perform.
Interest Rates: We realize business bank accounts function primarily for organization and making payments, but that doesn’t mean you can’t earn a little interest on the side. Between checking and savings accounts, we called out banks offering easily accessible rates you can use for some extra cash. Some options even go well beyond the national average.
Minimum Balance: Banks with maintenance fees will often waive them if you have enough money in said account. Small businesses may not have a lot of money to work with early on, so we identified institutions with low balance requirements to avoid fees. Some banks also have account minimums to unlock interest rates or other rewards.
Access to Mobile Banking: In our fast-paced world, having all your banking needs at your fingertips is a huge win. Mobile devices also played a role in the emergence of online-only banks with accounts you can access from anywhere. Even banks traditionally known for physical locations are amping up mobile apps to compete with the masses. Our selections highlight banks with top-tier mobile banking options to manage finances and make payments.
Ease of Use: When making our top banking for small business picks, we wanted to ensure features were straightforward to use. This applies to everything from transfers and payments to opening a business bank account with nothing more than an EIN. No bank account should be more trouble than it’s worth.

Best Banks for Small Businesses in Montana – Frequently Asked Questions (FAQs)

Do you want to know more about opening a bank for your small business in Montana? These FAQs has the answers to your questions:

What types of business bank accounts are available in Montana?

In Montana, banks typically provide a range of business bank account choices that are geared to fit the unique needs of various sorts of enterprises. Checking accounts, savings accounts accounts for merchant services, and accounts for credit card processing are some of the most typical kinds of business bank accounts in Montana.

Can I open a bank account with my EIN number?

What fees should I expect when opening a business bank account in Montana?

You may be required to pay a variety of fees when creating a business bank account in Montana. Typical charges include overdraft, wire transfer, transaction, and monthly maintenance costs. For check writing, online banking, and cash withdrawals, certain banks may also impose fees. Examine each bank’s charge schedule in detail before selecting an account that delivers the features and costs that best meet your business’ needs.

How much should a small business have in a bank account?

Bottom Line

The importance of selecting the appropriate bank cannot be overstated for small businesses in Montana to efficiently manage their finances and attain their financial objectives. It is essential to take into account essential factors like fees, interest rates, customer service, and digital tools while choosing a bank that aligns with the business’s specific requirements.

Conducting an in-depth comparison between multiple banks is vital before finalizing the decision. With the right banking services and banks, small businesses in Montana can grow and make a profit.

Best Business Bank Accounts by State

Below you will find an interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area.

8 Best Banks for Small Businesses in Missouri in 2023

Beginning a small business can be a daunting task, and choosing the right banking partner is essential for achieving success. The best banking options provide additional features to ensure that your business finances are in excellent shape. What are the best banks for small businesses in Missouri? Read on to learn more about our top picks in this comprehensive roundup.

Best Banks for Small Businesses in Missouri

Bluevine: Overall Best Bank for Small Businesses
Capital One: Best Bank for Business Bill Pay
U.S Bank: Best bank for Money Management
Bank of America: Best Bank for Merchant Services
Axos Bank: Best Bank for Freelancers
Lili Bank: Best Bank for Remote Deposit
Oxygen Bank: Best Bank for E-banking
Chase Bank: Best Bank for Merchant Services

Methodology

In our evaluation of the best Missouri banks for small businesses, we analyzed the fees associated with maintaining an active account and the minimum balances required to avoid such charges. We also assessed any additional fees for using the bank’s services and the potential for earning interest as a user. Additionally, we reviewed the mobile banking features offered by these banks.

Click here for a more detailed explanation of our methodology.

Bluevine

$4.95 per cash deposit, $2.50 for out-of-network ATM fees, $15 for outgoing wires

2.0% APY

Pay vendors by wire or check, schedule payments, manage cash flow

Capital One

$15 (waivable)

$15 per incoming domestic wire, $25 for outgoing domestic wire

0.20% APY

$2,000

Access credit card accounts, transfer money, deposit checks, access bank statements, access to CreditWise service

U.S. Bank

$0.50 fee for transactions after the first 125, fees at out-of-network ATMs

0.01% APY

$500 for business savings

Transfer funds, view documents, find branch/ATM locations, manage cards

Bank of America

$16

Out-of-network ATM fees, fees for excessive deposits

Up to 0.04% APY

$5,000

Manage accounts, pay and transfer, digital wallets, bill pay

Lili

$2.5 for out of network

1.50% APY

Manage finances and payments, control expenses, and save money for taxes

Chase

$15 (waivable)

$25 to $40 for wire transfers, $0.40 per transaction (after the first 20)

Up to 0.02% APY

Fraud monitoring, card control, pay, and transfer, view offers

Axos

$35 for wire transfer

–

Fund transfer, wire transfer, bill payment.

Oxygen

$3 for out-of-network ATM fee, fees for international transactions, $5 international ATM fee, fees for Ingo mobile check deposit

1.0% APY

Check deposit, bill payment, check deposit, account statement

Bluevine: Overall Best Bank for Small Businesses

Interest Rates: 2.0% APY

★★★★★

4.7

BlueVine is a leading digital banking platform that provides a full range of banking services specifically tailored for small businesses. With its intuitive interface and user-friendly design, BlueVine offers easy-to-use tools that help small business owners manage their finances more efficiently.

BlueVine’s features include online invoicing, bill pay, and cash flow forecasting, making it an ideal choice for small businesses looking to streamline their financial operations. Additionally, BlueVine provides competitive interest rates and no monthly fees, making it a cost-effective option for small businesses.

Why we chose it: High-interest rates, minimal fees, and a lack of maintenance requirements make Bluevine the best business bank account for LLCs or other business types.

High-interest rates
Very few fees
No minimum deposit required

No business savings account
No ATM reimbursement
Fee for cash deposits

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Capital One: Best Bank for Business Bill Pay

Interest Rates: 0.20% APY

★★★★★

4.6

Capital One is a popular bank known for its credit cards, but it also offers a range of banking services for businesses, including a robust business bill pay platform. Capital One’s business bill pay system allows businesses to pay bills online quickly and securely.

The platform also includes features like automatic payments, scheduled payments, and recurring payments, making it an ideal choice for businesses looking to automate their bill pay process.

Additionally, Capital One offers a cash back rewards program for business credit card purchases, making it a great option for businesses looking to earn rewards on their spending.

Why we chose it: With no limits on digital transfers, Capital One gives you the freedom to keep funds moving.

Unlimited digital transfers
Does not charge overdraft fees
Large ATM network

Limited physical locations
Monthly account fee
Out-of-network ATM fees

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

U.S. Bank: Best Bank for Money Management

Interest Rates: 0.01% APY

★★★★★

4.5

U.S Bank is a well-established bank that offers a range of financial services for businesses. One of its standout features is its money management tools, which help businesses track their expenses, analyze their spending patterns, and create budgets.

U.S Bank’s money management tools also offer features like alerts and notifications, making it easy for businesses to stay on top of their finances.

Additionally, U.S Bank offers a variety of business credit cards with rewards programs and other benefits, making it an excellent choice for businesses looking to earn rewards on their spending.

Why we chose it: Small businesses in need of extra funds can turn to U.S. Bank for a plethora of lending options.

Lending to fit your needs
Specialized merchant services for restaurants, retailers, and service providers
2,400 branch locations

Charges for overdrafts
Relatively low APY
Only has locations in 28 states

Fees

Interest Rates

Minimum Balance

There’s no minimum balance requirement when starting with the U.S. Bank’s silver account package designed specifically for small businesses. Other checking accounts have waivable fees should you keep up with the necessary balance amounts. Savings accounts start at a $500 minimum balance to remove service fees.

Access to Mobile Banking

Bank of America: Best Bank for Merchant Services

Interest Rates: Up to 0.04% APY

★★★★★

4.4

Bank of America is a top-tier bank that offers a full suite of financial services for businesses, including merchant services. Bank of America’s merchant services allow businesses to accept a variety of payment types, including credit cards, debit cards, and mobile payments.

The platform also includes features like fraud detection and chargeback protection, making it a secure option for businesses. Additionally, Bank of America offers business credit cards with cash back rewards, making it a great choice for businesses looking to earn rewards on their spending.

Why we chose it: Bank of America’s rewards come with several perks to make banking a win-win for all parties involved.

Preferred rewards to boost interest rate
Over 17,000 ATMs and 4,300 branches
Can waive the monthly fee

Lacks 24/7 customer service
Monthly fees
Transaction fees when using non-Bank of America ATMs

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Axos: Best Bank for Freelancers

4.61

★★★★★

Axos Bank is a digital bank that caters to freelancers and independent contractors. The bank’s standout feature is its freelancers checking account, which offers features like unlimited ATM fee reimbursements and no monthly maintenance fees.

Additionally, Axos Bank provides a variety of other financial services for freelancers, including online invoicing, mobile check deposit, and expense tracking tools. With its focus on freelancers and its competitive fees, Axos Bank is an excellent choice for freelancers looking for a banking solution that meets their unique needs.

Why we chose it: Free cash deposits and a low fee structure make Axos Basic Business Checking one of the best business bank accounts out there.

No monthly fee and unlimited transactions.
Unlimited domestic ATM fee reimbursements.
Cash deposits via MoneyPass and AllPoint ATMs.
Welcome bonus for new customers (terms apply).
24/7 customer support.

No third-party app integrations.
Interest checking APY is good, but not great

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Lili: Best Bank for Remote Deposit

4.57

★★★★★

Lili Bank is a mobile banking platform designed for freelancers and small business owners. One of its standout features is its remote deposit capabilities, which allow users to deposit checks by taking a photo with their smartphone.

Additionally, Lili Bank provides a range of other financial services, including online invoicing, expense tracking, and tax preparation tools.

Lili Bank also offers a no-fee checking account and a cashback rewards program for debit card purchases, making it a cost-effective option for freelancers and small business owners.

No fees, minimum balance requirements, or minimum opening deposit.
Unlimited fee-free transactions.
Fee-free ATM access through the MoneyPass network; ability to deposit cash through the Green Dot network.
Integrated tools for managing expenses and planning for taxes.
Offers an early payment feature with direct deposit, allowing you to receive funds up to two days sooner than you might with a traditional bank account.

Cash deposits at Green Dot locations incur a fee of up to $4.95 per deposit.
No checkbooks; can’t send or receive wire transfers.
Limited business-related features, e.g., doesn’t offer joint accounts, multiple business debit cards, or third-party integrations.

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Oxygen: Best Bank for E-banking

4.0

★★★★★

Oxygen Bank is a digital bank that offers a range of financial services for businesses, including e-banking. Oxygen Bank’s e-banking platform allows businesses to manage their finances online or through its mobile app. The platform includes features like account alerts, mobile check deposit, and transaction history tracking, making it a convenient option for businesses looking for a modern, digital banking experience.

Additionally, Oxygen Bank offers a cash back rewards program for debit card purchases and a high-yield savings account, making it an attractive option for businesses looking to earn rewards on their spending and save for the future.

Why we chose it: Oxygen speaks the language of the trendy business owner, offering some cool banking features along the way. It’s also one of the best checking accounts for sole proprietors.

Aimed at trendy business owners
5% Cashback rewards
Create virtual, single-use debit cards

Virtual bank, no cash deposits
Fewer integrations than other options
No lending options

Fees

Interest Rates

Minimum Balance

Mobile Banking Features

Chase: Best Bank for Merchant Services

Interest Rates: Up to 0.02% APY

★★★★★

4.2

March 24, 2023March 28, 2023

Chase Bank is a well-known bank that provides a wide range of financial services for businesses. One of its standout features is its merchant services, which enable businesses to accept a variety of payment types, including credit cards, debit cards, and mobile payments.

The platform also includes features like fraud detection and chargeback protection, making it a secure option for businesses. Additionally, Chase Bank offers a variety of business credit cards with cash back rewards, making it an excellent choice for businesses looking to earn rewards on their spending. With its reputation for quality and reliability, Chase Bank is a popular choice for businesses of all sizes.

Why we chose it: Chase adds a long list of merchant services to its traditional banking to help your business succeed.

Several available merchant services
Multiple ways to waive the monthly maintenance fee
$300 sign-on bonus

Monthly maintenance fees
Only 20 free transactions per month
Minimal APY

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Methodology for the Best Banks for Small Businesses in Missouri

To find the best banks for small businesses in Missouri, we looked at several aspects involved in opening a business bank account and managing business finances. Here are the major factors and methodologies we used to make our decision.

Fees: Small businesses often have to count every penny. Using a bank that nickels and dimes you for every little thing can quickly run your account dry. We looked for banks without maintenance fees or at least the option to waive said charge with a few simple steps. It was also crucial to locate institutions that minimize costs for transactions and transfers that every business needs to perform.
Interest Rates: We realize business bank accounts function primarily for organization and making payments, but that doesn’t mean you can’t earn a little interest on the side. Between checking and savings accounts, we called out banks offering easily accessible rates you can use for some extra cash. Some options even go well beyond the national average.
Minimum Balance: Banks with maintenance fees will often waive them if you have enough money in said account. Small businesses may not have a lot of money to work with early on, so we identified institutions with low balance requirements to avoid fees. Some banks also have account minimums to unlock interest rates or other rewards.
Access to Mobile Banking: In our fast-paced world, having all your banking needs at your fingertips is a huge win. Mobile devices also played a role in the emergence of online-only banks with accounts you can access from anywhere. Even banks traditionally known for physical locations are amping up mobile apps to compete with the masses. Our selections highlight banks with top-tier mobile banking options to manage finances and make payments.
Ease of Use: When making our top banking for small business picks, we wanted to ensure features were straightforward to use. This applies to everything from transfers and payments to opening a business bank account with nothing more than an EIN. No bank account should be more trouble than it’s worth.

Best Banks for Small Businesses in Missouri Frequently Asked Questions (FAQs)

Do you have more questions about opening a bank account for your Missouri business? This FAQ has the answers to your questions:

What are the requirements to open a business account in Missouri?

To open a business bank account in Missouri, you will generally need business documentation, personal identification for all owners or authorized signers, and a minimum deposit. Some banks may also require additional documentation such as proof of address or a business plan.

Can I open a bank account with my EIN number?

What is a business account?

A business account is a type of bank account that is specifically designed for business owners to manage their finances. It allows businesses to receive and make payments, manage cash flow, pay bills, and save money. Business accounts can also provide additional features such as online banking, bill pay, and merchant services. They are separate from personal accounts and often require specific documentation, such as business registration papers and tax identification numbers, to open.

How much should a small business have in a bank account?

Bottom Line

Opening a business bank account can greatly benefit small businesses in Missouri as it helps them efficiently manage their finances and keep track of their transactions. The top banks for small businesses in Missouri offer low fees, convenient money transfer options, and reliable customer service, allowing businesses to easily meet their financial objectives and maintain good relationships with their suppliers. Consider these banks as your go-to solution to fulfill your company’s financial needs in Missouri.

Best Business Bank Accounts by State

Below you will find an interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area.

8 Best Banks for Small Businesses in Nebraska in 2023

Most banks claim to offer the best banking solution ever so it can be challenging for business owners to filter through the noise and choose a bank to work with. But it doesn’t have to be. We have done thorough research, and have come up with a list of the best banks for small businesses in Nebraska. Keep reading

Quick View of the Best Bank for Small Businesses in Nebraska

Bluevine: Best Overall Bank for Small Businesses
Capital One: Best For Low Bank Charges
Lili: Best For Financial Planning Tools
U.S. Bank: Best For Small Business Loans
Oxygen: Best for Fully Online Banking
Axos: Best For Competitive APY Interest Rate
Bank of America: Best For Integrating Financial Management And Tracking Tools
Chase Bank: Best For Offline and Online Banking

Our Methodology

There are multiple factors business owners check when choosing a bank for their business, and we’ve assessed these banks based on those features. First, we made sure that the offline Banks on our list had enough brick-and-mortar locations in Nebraska.

Then we analyzed all the banks in terms of transaction charges, monthly maintenance fees, minimum requirements, and annual interest rates. We also checked for the banking products they offered and whether they allow integrations for extra features.

Also, we checked if they support online banking services and have loan opportunities for small businesses. Plus, we investigated if they offer sign-up bonuses or cash-back rewards.

Click here for a more detailed explanation of our methodology.

Bluevine

$4.95 per cash deposit, $2.50 for out-of-network ATM fees, $15 for outgoing wires

2.0% APY

Pay vendors by wire or check, schedule payments, manage cash flow

Capital One

$15 (waivable)

$15 per incoming domestic wire, $25 for outgoing domestic wire

0.20% APY

$2,000

Access credit card accounts, transfer money, deposit checks, access bank statements, access to CreditWise service

U.S. Bank

$0.50 fee for transactions after the first 125, fees at out-of-network ATMs

0.01% APY

$500 for business savings

Transfer funds, view documents, find branch/ATM locations, manage cards

Bank of America

$16

Out-of-network ATM fees, fees for excessive deposits

Up to 0.04% APY

$5,000

Manage accounts, pay and transfer, digital wallets, bill pay

Lili

$2.5 for out of network

1.50% APY

Manage finances and payments, control expenses, and save money for taxes

Chase

$15 (waivable)

$25 to $40 for wire transfers, $0.40 per transaction (after the first 20)

Up to 0.02% APY

Fraud monitoring, card control, pay, and transfer, view offers

Axos

$35 for wire transfer

–

Fund transfer, wire transfer, bill payment.

Oxygen

$3 for out-of-network ATM fee, fees for international transactions, $5 international ATM fee, fees for Ingo mobile check deposit

1.0% APY

Check deposit, bill payment, check deposit, account statement

Bluevine: Best Overall Bank for Small Businesses in Nebraska

Interest Rates: 2.0% APY

★★★★★

4.7

Bluevine is an excellent choice for Nebraska business owners that wants to conveniently set up a bank account for their business. They offer a fully online banking system with zero minimum balance requirements, zero monthly maintenance fees, and unlimited digital transfers. Bluevine also allows small businesses in Nebraska to access loans without having the credit score or history required by traditional Banks.

Why we chose it: High-interest rates, minimal fees, and a lack of maintenance requirements make Bluevine the best business bank account for LLCs or other business types.

High-interest rates
Very few fees
No minimum deposit required

No business savings account
No ATM reimbursement
Fee for cash deposits

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Capital One: Best For Low Bank Charges

Interest Rates: 0.20% APY

★★★★★

4.6

Capital One is top-rated when it comes to stressless banking, and for business owners, this could mean opening a business checking account in just 5 minutes.

With the Capital One mobile app users have access to 24/7 online bill payments, unlimited transfers, and free bank statement reports.

Best of all, they charge zero fees for unlimited transfers, zero fees for a bank overdraft, and offer a waivable monthly maintenance fee.

Also, their 360 Checking account comes with benefits like Early Paychecks, FDIC Insured secure banking, and Over 70000 free-fee ATMs.

Why we chose it: With no limits on digital transfers, Capital One gives you the freedom to keep funds moving.

Unlimited digital transfers
Does not charge overdraft fees
Large ATM network

Limited physical locations
Monthly account fee
Out-of-network ATM fees

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

U.S. Bank: Best For Business Loans Opportunities

Interest Rates: 0.01% APY

★★★★★

4.5

U.S Bank is the perfect bank for small businesses looking for extra loans to run their businesses, as they offer various loan opportunities. For instance, with U.S Bank, business owners have access to Quick Loans of up to $250,000 or Long Term Loans of up to $1 million.

They also offer multiple bank products specifically for businesses such as Business Checking Merchant Services, Business Credit Cards, Cash Management, and Payroll Services. Their minimum balance requirement is only $500, but they charge $0 for the monthly maintenance fee.

Why we chose it: Small businesses in need of extra funds can turn to U.S. Bank for a plethora of lending options.

Lending to fit your needs
Specialized merchant services for restaurants, retailers, and service providers
2,400 branch locations

Charges for overdrafts
Relatively low APY
Only has locations in 28 states

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Bank of America: Best For Integrating Financial Management And Tracking Tools

Interest Rates: Up to 0.04% APY

★★★★★

4.4

As a business owner managing and keeping track of your financial transactions can be overwhelming. But with Bank of America, merchants can get access to top-rated financial data management and tracking software such as Zelle, Cash Flow Monitor, Mobile Check Deposits, Quickbooks, and more.

Aside from its top-notch online banking products, Bank of America has a strong offline banking system with over 4,000 branches and over 17,000 ATMs nationwide. BOA also has small-business-specialized customer support designed to help business owners with their financial transaction challenges.

Why we chose it: Bank of America’s rewards come with several perks to make banking a win-win for all parties involved.

Preferred rewards to boost interest rate
Over 17,000 ATMs and 4,300 branches
Can waive the monthly fee

Lacks 24/7 customer service
Monthly fees
Transaction fees when using non-Bank of America ATMs

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Axos: Best For Competitive APY Interest Rate

4.61

★★★★★

Axos is a fully online banking platform that is popular among business owners in Nebraska. Plus they’ve been rated a plus by the Better Business Bureau (BBB). While they make it easy for small business owners to open a business checking account, they also offer a competitive enticing APY interest rate across all their business accounts. Axos small business interest checking accounts offer up to 1.0% APY with zero monthly maintenance charges.

Also, their money market accounts such as Business Premium Savings, Business Savings, Business Money Market, and Nonprofit Market attract up to 0.20% APY respectively.

Why we chose it: Free cash deposits and a low fee structure make Axos Basic Business Checking one of the best business bank accounts out there.

No monthly fee and unlimited transactions.
Unlimited domestic ATM fee reimbursements.
Cash deposits via MoneyPass and AllPoint ATMs.
Welcome bonus for new customers (terms apply).
24/7 customer support.

No third-party app integrations.
Interest checking APY is good, but not great

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Lili: Best For Financial Planning Tools

4.57

★★★★★

Lili Bank makes it easy for small businesses in Nebraska to execute all their financial-related activities in one platform. They offer tons of powerful digital tools for sending and receiving invoices, organizing expenses, and automating tax savings.

Opening a business account with Lili is easy, as they’re a fully digital banking app that offers zero minimum balance requirement, and zero monthly maintenance fees, and you don’t have to worry about any hidden fees. Best of all Lili Bank also offers a mouth-watering APY of 1.5% and multiple cash-backs.

No fees, minimum balance requirements, or minimum opening deposit.
Unlimited fee-free transactions.
Fee-free ATM access through the MoneyPass network; ability to deposit cash through the Green Dot network.
Integrated tools for managing expenses and planning for taxes.
Offers an early payment feature with direct deposit, allowing you to receive funds up to two days sooner than you might with a traditional bank account.

Cash deposits at Green Dot locations incur a fee of up to $4.95 per deposit.
No checkbooks; can’t send or receive wire transfers.
Limited business-related features, e.g., doesn’t offer joint accounts, multiple business debit cards, or third-party integrations.

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Oxygen: Best For Fully Online Banking

4.0

★★★★★

Oxygen Bank makes it to our top pick list because of the specialized fully online banking services they provide for online entrepreneurs and freelancers. For instance, users can easily open their business LLC within the app, create a virtual credit card for their online transactions, and enjoy zero fees on peer-to-peer transfers, wire transfers, and Direct deposits. Oxygen also offers multiple bonuses such as a 5% cash-back reward, a $5 sign-up bonus, and $50 for the first $500 deposit within 60 days of opening an account.

Why we chose it: Oxygen speaks the language of the trendy business owner, offering some cool banking features along the way. It’s also one of the best checking accounts for sole proprietors.

Aimed at trendy business owners
5% Cashback rewards
Create virtual, single-use debit cards

Virtual bank, no cash deposits
Fewer integrations than other options
No lending options

Fees

Interest Rates

Minimum Balance

Mobile Banking Features

Chase: Best For Online and Offline Banking

Interest Rates: Up to 0.02% APY

★★★★★

4.2

March 24, 2023March 28, 2023

Chase bank is best for merchants that want to enjoy the benefits of both online and offline banking. That’s why the bank now records over 18 million registered business checking accounts. Currently, Chase bank has over 5,000 branches and 17000 ATMs nationwide.

So businesses in Nebraska can quickly find one in their location. For their online banking service, business owners can use the Chase mobile banking app to quickly set up an account in minutes with zero minimum balance requirements. In addition, they’ll get access to free Financial Management tools.

Why we chose it: Chase adds a long list of merchant services to its traditional banking to help your business succeed.

Several available merchant services
Multiple ways to waive the monthly maintenance fee
$300 sign-on bonus

Monthly maintenance fees
Only 20 free transactions per month
Minimal APY

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Methodology for the Best Banks for Small Businesses in Nebraska

We considered several facets for opening a business bank account and managing your finances once you’re up and running. Below are the top factors we used for determining the best banks for small businesses in Nebraska:

Fees: Small businesses often have to count every penny. Using a bank that nickels and dimes you for every little thing can quickly run your account dry. We looked for banks without maintenance fees or at least the option to waive said charge with a few simple steps. It was also crucial to locate institutions that minimize costs for transactions and transfers that every business needs to perform.
Interest Rates: We realize business bank accounts function primarily for organization and making payments, but that doesn’t mean you can’t earn a little interest on the side. Between checking and savings accounts, we called out banks offering easily accessible rates you can use for some extra cash. Some options even go well beyond the national average.
Minimum Balance: Banks with maintenance fees will often waive them if you have enough money in said account. Small businesses may not have a lot of money to work with early on, so we identified institutions with low balance requirements to avoid fees. Some banks also have account minimums to unlock interest rates or other rewards.
Access to Mobile Banking: In our fast-paced world, having all your banking needs at your fingertips is a huge win. Mobile devices also played a role in the emergence of online-only banks with accounts you can access from anywhere. Even banks traditionally known for physical locations are amping up mobile apps to compete with the masses. Our selections highlight banks with top-tier mobile banking options to manage finances and make payments.
Ease of Use: When making our top banking for small business picks, we wanted to ensure features were straightforward to use. This applies to everything from transfers and payments to opening a business bank account with nothing more than an EIN. No bank account should be more trouble than it’s worth.

Frequently Asked Questions (FAQs) for Best Banks for Small Businesses In Nebraska

Here are the answers to the top questions about the best banks for small businesses in Nebraska.

What are the requirements to open a business account in Nebraska?

To open a business account in Nebraska, the requirements will depend on the type of business entity you have. However, general requirements include a registration certificate, EIN, business license, identification, and proof of address. Banks may have additional requirements, so check with them for specifics.

Can I open a bank account with my EIN number?

Is it possible to open a bank account without an SSN in Nebraska?

It may be difficult to open a bank account without an SSN in Nebraska, but it’s possible. One way is to apply for an ITIN from the IRS, while another is to provide alternative forms of identification. However, it’s up to the bank to decide whether to accept these alternatives. It’s best to check with the bank to see what their specific requirements are.

How much should a small business have in a bank account?

Bottom Line

Whether it’s getting loans for your business, operating all your finances online, or enjoying low bank charges on your business’s hard-earned income, we’ve given you the best banks for small business owners in Nebraska.

These banks have been designed with small business owners in mind, and we are sure you would find some with features that are suitable for your business needs.

Best Business Bank Accounts by State

Below you will find an interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area.

8 Best Banks for Small Businesses in New Hampshire in 2023

Business women talking near the desk during a coffee break

Small businesses form the backbone of the economy in New Hampshire, and their success largely depends on the support they receive from various financial institutions. Finding the right bank that can provide the necessary financial tools and resources can be crucial for the growth and sustainability of small businesses.

In this article, we will discuss the best banks for small businesses in New Hampshire, which offer competitive services, convenient features, and personalized support to help entrepreneurs achieve their goals.

Whether you are a startup or an established small business owner, this guide will provide you with valuable insights to make an informed decision on selecting the right bank for your business needs.

Banks for Small Businesses in New Hampshire

Bluevine: Best Bank for Merchant Services
Capital One: Best Bank for Credit Lines
U.S Bank: Best bank for Cash Management
Bank of America: Best for Overdraft Protection
Axos Bank: Best Bank for Mobile Banking
Lili Bank: Best Bank for Remote Deposit
Oxygen Bank: Best Bank for Wire Transfer
Chase Bank: Best Bank for Business Bill Pay

Our Methodology

To compile a comprehensive list of the best banks for small businesses in New Hampshire, we conducted a thorough evaluation of various factors. Our analysis included assessing the fees associated with maintaining an open account, as well as the minimum balance requirements needed to avoid such fees.

By taking these aspects into account, we have created a list of banks that provide exceptional value and service to small businesses in New Hampshire

Click here for a more detailed explanation of our methodology.

Bluevine

$4.95 per cash deposit, $2.50 for out-of-network ATM fees, $15 for outgoing wires

2.0% APY

Pay vendors by wire or check, schedule payments, manage cash flow

Capital One

$15 (waivable)

$15 per incoming domestic wire, $25 for outgoing domestic wire

0.20% APY

$2,000

Access credit card accounts, transfer money, deposit checks, access bank statements, access to CreditWise service

U.S. Bank

$0.50 fee for transactions after the first 125, fees at out-of-network ATMs

0.01% APY

$500 for business savings

Transfer funds, view documents, find branch/ATM locations, manage cards

Bank of America

$16

Out-of-network ATM fees, fees for excessive deposits

Up to 0.04% APY

$5,000

Manage accounts, pay and transfer, digital wallets, bill pay

Lili

$2.5 for out of network

1.50% APY

Manage finances and payments, control expenses, and save money for taxes

Chase

$15 (waivable)

$25 to $40 for wire transfers, $0.40 per transaction (after the first 20)

Up to 0.02% APY

Fraud monitoring, card control, pay, and transfer, view offers

Axos

$35 for wire transfer

–

Fund transfer, wire transfer, bill payment.

Oxygen

$3 for out-of-network ATM fee, fees for international transactions, $5 international ATM fee, fees for Ingo mobile check deposit

1.0% APY

Check deposit, bill payment, check deposit, account statement

Bluevine: Best Bank for Merchant Services

Interest Rates: 2.0% APY

★★★★★

4.7

Bluevine is an online bank that offers some of the best merchant services to small businesses. It is ideal for businesses that require flexibility in payments and fast access to funds. Bluevine offers two types of business banking services – business checking and lending.

Their checking account comes with no monthly fees, unlimited transactions, and no minimum balance requirements. Bluevine’s lending service includes invoice factoring, lines of credit, and term loans, all of which can be used to manage cash flow and finance business operations.

With Bluevine, small businesses can easily integrate their bank account with popular accounting software, such as QuickBooks, Xero, and Wave, to streamline their financial management processes.

Why we chose it: High-interest rates, minimal fees, and a lack of maintenance requirements make Bluevine the best business bank account for LLCs or other business types.

High-interest rates
Very few fees
No minimum deposit required

No business savings account
No ATM reimbursement
Fee for cash deposits

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Capital One: Best Bank for Credit Lines

Interest Rates: 0.20% APY

★★★★★

4.6

Capital One is an excellent choice for businesses that require credit lines. They offer secured and unsecured credit lines that can be customized to meet your business needs. Capital One’s credit lines can be used for short-term or long-term financing, and their repayment terms are flexible.

The bank also offers a rewards program that allows businesses to earn cashback and rewards points for their purchases. Additionally, Capital One provides easy online access to account management tools that help businesses track their expenses and monitor their credit scores.

Why we chose it: With no limits on digital transfers, Capital One gives you the freedom to keep funds moving.

Unlimited digital transfers
Does not charge overdraft fees
Large ATM network

Limited physical locations
Monthly account fee
Out-of-network ATM fees

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

U.S. Bank: Best Bank for Cash Management

Interest Rates: 0.01% APY

★★★★★

4.5

U.S Bank is known for its cash management services, making it the ideal bank for businesses that need to manage their cash flow efficiently. Their cash management services include online banking, bill pay, wire transfers, ACH payments, and remote deposit capture.

With U.S Bank, businesses can easily manage their finances, pay bills, and transfer funds from anywhere at any time. They also offer a comprehensive mobile banking app that allows businesses to access their accounts and perform transactions on the go.

Why we chose it: Small businesses in need of extra funds can turn to U.S. Bank for a plethora of lending options.

Lending to fit your needs
Specialized merchant services for restaurants, retailers, and service providers
2,400 branch locations

Charges for overdrafts
Relatively low APY
Only has locations in 28 states

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Bank of America: Best for Overdraft Protection

Interest Rates: Up to 0.04% APY

★★★★★

4.4

Bank of America is a well-known bank that provides excellent overdraft protection services to small businesses. Their overdraft protection program allows businesses to link their checking accounts to a savings account or credit line, which helps prevent overdraft fees and ensures that payments are made on time.

Additionally, Bank of America’s mobile banking app provides real-time alerts that notify businesses when their account balance is low, ensuring that they can take action before overdraft fees are charged.

Why we chose it: Bank of America’s rewards come with several perks to make banking a win-win for all parties involved.

Preferred rewards to boost interest rate
Over 17,000 ATMs and 4,300 branches
Can waive the monthly fee

Lacks 24/7 customer service
Monthly fees
Transaction fees when using non-Bank of America ATMs

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Axos: Best Bank for Mobile Banking

4.61

★★★★★

Axos Bank is the best bank for mobile banking. Their mobile app is designed to make banking easier for small businesses. With AXOS Bank, businesses can easily deposit checks, view account balances, pay bills, transfer funds, and manage their finances on the go. Their app also provides real-time account alerts, making it easier for businesses to monitor their account activity and avoid any fraudulent transactions.

Why we chose it: Free cash deposits and a low fee structure make Axos Basic Business Checking one of the best business bank accounts out there.

No monthly fee and unlimited transactions.
Unlimited domestic ATM fee reimbursements.
Cash deposits via MoneyPass and AllPoint ATMs.
Welcome bonus for new customers (terms apply).
24/7 customer support.

No third-party app integrations.
Interest checking APY is good, but not great

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Lili: Best Bank for Remote Deposit

4.57

★★★★★

Lili Bank is the best bank for remote deposit. They offer a mobile app that allows businesses to deposit checks remotely by simply taking a picture of the check. Their app also provides other convenient features, such as real-time notifications for deposits and spending, expense categorization, and tax-saving tools. Lili Bank is an excellent choice for businesses that need to deposit checks quickly and efficiently.

No fees, minimum balance requirements, or minimum opening deposit.
Unlimited fee-free transactions.
Fee-free ATM access through the MoneyPass network; ability to deposit cash through the Green Dot network.
Integrated tools for managing expenses and planning for taxes.
Offers an early payment feature with direct deposit, allowing you to receive funds up to two days sooner than you might with a traditional bank account.

Cash deposits at Green Dot locations incur a fee of up to $4.95 per deposit.
No checkbooks; can’t send or receive wire transfers.
Limited business-related features, e.g., doesn’t offer joint accounts, multiple business debit cards, or third-party integrations.

Fees

Interest Rates

Minimum Balance

Access to Mobile Banking

Oxygen: Best Bank for Wire Transfer

4.0

★★★★★

Oxygen Bank is the best bank for wire transfer services. Their wire transfer service is fast, reliable, and secure. Oxygen Bank also provides a comprehensive mobile banking app that allows businesses to manage their accounts, view transactions, and initiate wire transfers from anywhere. With Oxygen Bank, businesses can easily send and receive funds both domestically and internationally.

Why we chose it: Oxygen speaks the language of the trendy business owner, offering some cool banking features along the way. It’s also one of the best checking accounts for sole proprietors.

Aimed at trendy business owners
5% Cashback rewards
Create virtual, single-use debit cards

Virtual bank, no cash deposits
Fewer integrations than other options
No lending options

Fees

Interest Rates

Minimum Balance

Mobile Banking Features

Chase: Best Bank for Business Bill Pay

Interest Rates: Up to 0.02% APY

★★★★★

4.2