Top 15 Banks For Home Businesses In The USA

If you are trying to open a business account, there are other options than your local bank. Better banks may be out there with more competitive rates and tailored services. The top 15 banks are some of the best in the U.S. for home businesses.

1. ING Direct

ING Direct has been on the map for years and is still one of the best banks in the U.S. today. It has one of the lowest interest rates, especially regarding business accounts. ING Direct provides actual savings accounts and standard business accounts, each offering different features and benefits. To open an account with ING Direct, you will need $500-$1,000 to start; there are no monthly fees, but you can pay a $6 fee to get a higher interest rate on your account balance.

2. Barclays

Barclays is another well-known bank for both personal and business customers. It has a reputation for offering high-interest rates on savings, checking accounts, and investing in CDs. The downside of Barclays’ services is that if you are looking to get your investment done through the bank, you will have to go through a broker first; however, if you choose to do this, the interest rate can be pretty high.

3. U.S. Bank

U.S. Bank is yet another national bank that has been around for decades; it currently offers private banking services along with its traditional business accounts to complement its other offerings of credit cards and checking accounts, among others. U.S. Bank offers competitive interest rates and has one of the most diverse online banking services.

4. Wells Fargo

Wells Fargo is another bank that has been around for decades. It currently operates in different markets and states, including Arizona, California, Colorado, Florida, Georgia, Hawaii, Indiana, Illinois, Kansas, Kentucky, Louisiana, Minnesota, Missouri, North Carolina North Dakota Ohio Oklahoma Pennsylvania South Carolina South Dakota Texas Virginia Washington and West Virginia. Wells Fargo also provides services in foreign markets, including Canada and Mexico. The bank has a wide selection of basic checking accounts but offers high-interest savings accounts with added rewards programs. You can also invest through Wells Fargo or put your money into a comprehensive investment program.

5. Bank of America

Bank of America has traditionally been an excellent bank for business customers, especially in the Southeast where it is set up. It offers competitive rates on business accounts and free checking and ATM transactions, among others. It also provides various financing options and insurance products tailored to specific needs and circumstances. There are no monthly fees, but if you open an account, you will be charged $12 per month (cash advance fee).

6. PNC Bank

PNC Bank has been around for quite a while; it continues to have one of the lowest rates on business accounts. It also provides a wide array of banking services and products, including debit cards and credit cards, mortgages, savings, and checking, with more than 100 branches throughout the United States. The downside is that you will be charged $30 if you want to use online banking; however, there are no monthly fees or hidden charges.

7. First Franklin

First Franklin has been around for decades now; it operates in 32 states across the U.S., including Florida, South Dakota, and Tennessee. The bank specializes in small businesses with at most 15 employees. It offers many services, such as Business Checking Unlimited (BCU). There are no monthly fees to use the account, but you must maintain a minimum daily balance of $5,000 if you want to use the Business InterCheck Debit Card.

8. Suntrust Bank

Suntrust Bank has provided personal and business banking services for more than a century; it currently operates in 16 states across the U.S., including Georgia, North Carolina, and Virginia. It offers various products, including checking and savings accounts, each with its own benefits and financial rewards. There are no monthly fees associated with Suntrust for business account holders; however, there is a $12 fee for using an ATM that is not from the bank.

9. HSBC

HSBC has provided personal banking services to U.S. residents for over 50 years; it operates in 43 states across the country as a full-service bank for personal and business customers. The bank also offers online banking and mobile banking services along with free checking accounts tailored to meet business owners’ specific needs and requirements. No monthly fees are involved, but you will be charged $10 if you use an out-of-network ATM.

10. Amegy Bank

Amegy Bank has been around for several decades and currently operates in Texas and Southeast. The bank has several economical solutions, including business savings accounts and certificates of deposit, each with its unique advantage and rewards program. There are no monthly fees associated with the accounts; however, there is a $3 online transaction fee for debit cards if you do not maintain an average daily balance of at least $1,500; otherwise, there is no fee to use the card.

11. Capitol One

Capitol One has been around for 30 years and operates in 31 states and Puerto Rico as a full-service bank. The bank offers premium business checking accounts, online banking services, debit cards, and credit cards to meet the needs of today’s business owners; there are no monthly fees associated with the product, but there is a $10 fee if you use an ATM that is not from Capitol One.

12. Santander Bank

Santander has been around for years; it operates in 20 states, including California, Texas, New York, and Puerto Rico. Santander offers a wide range of financial products and services that are tailored to meet the needs of today’s business owners and individuals. The bank provides everything from checking, savings, and certificate accounts to credit cards, equity loans, and small business financing. There is a $24 annual fee for the Personal Plus Checking account; however, it includes multiple ATM fee rebates, unlimited checks, and more.

13. Commerce Bank

Commerce Bank has been around for years; it operates in 26 states across the U.S., including New Jersey, Ohio, Texas, and Virginia. It offers a wide range of checking, savings and CD accounts, each with its unique features and benefits; there are no monthly fees associated with this account but a $12 transaction fee if you use an ATM that is not from Commerce Bank.

14. First Tennessee Bank

First Tennessee has been around for nearly 50 years; it operates in 16 states across the southeast as a financial provider for personal banking and business customers. The bank has several products, including business checking accounts and credit cards, each with benefits and features. There are no monthly fees associated with the performance, but there is a $10 fee per month if you do not maintain an average daily balance of at least $2,500 or make less than five monthly transactions.

15. Northern Trust Bank

Northern Trust has been around for decades; it operates in 21 states across the U.S. as a full-service bank for personal and business customers. The bank provides a wide range of products and services, including business checking accounts and credit cards, each with unique features. There are no monthly fees associated with the account, but there is a $10 fee if you do not maintain an average daily balance of at least $500 or make less than five monthly transactions.

In the world of banking, there are plenty of options for businesses. But not every bank is created equal — some institutions will provide a financial institution to your company and help you grow it, while others will give you nothing more than a hard time. The post above provides the top 15 banks for home businesses in the USA.