Review: Zions Bank Credit Cards
Zions Bank offers 3 main consumer credit cards, allowing you to choose between lower interest rates or rewards programs. Our review of Zions Bank credit card offerings is below:
- The Zions Bank AmaZing Rate Visa is a standard no-frills credit card for those who care more about a low interest rate than rewards. It offers a rate as low as 9.49% and up to 15.49% if your credit isn’t quite as good. (Even the 15.49% rate isn’t bad in today’s market.) There is no annual fee for this card or any of the other Zions Bank cards. This card stacks up favorably to the lowest interest credit cards on the market today.
- The Zions Bank AmaZing Cash Visa is a typical cash back credit card that offers a 1% rebate on all card purchases. While this is not a terrible cash back credit card, you’ll find much more generous offers listed on our Cash Rebate Credit Cards page.
- The AmaZing Rewards Visa is a typical points rewards credit card. You get 1 point per dollar and the chance to earn up to an extra 0.25 points per dollar based on your annual spending with the card. As far as we can tell, you can use points toward merchandise, a statement credit that lowers your card balance, or travel rewards. Like the Cash Visa above, this card is only OK is comparison to the many other more attractive options on the market. Compare on our Rewards Credit Cards page.
Credit One Bank® Platinum Visa® for Building Credit - See if you Pre-Qualify without harming your credit score. +This fully unsecured credit card with no deposit requirement can be helpful in growing or building credit. Your account activity will be reported monthly to all three major credit bureaus. +All the features you want in a credit card are included. Get 1% cash back on eligible purchases, take advantage of free online credit score tracking, and enjoy credit line increase opportunities. Terms apply.
Updated List of Banks and Credit Cards That Support Apple Pay
There were times when people dreamt of making payment without cash or Credit/Debit card. And now the dream came true when the service was announced by Apple in the form of Apple Pay. It is the feature that allows users to make payments through iPhone 6/iPhone 6 Plus or the Apple Watch. It requires no Credit/Debit cards to be scratched or shown while making pay.
Apple has linked up with nearly 16 top banks such as, American Express, Bank of America, PNC, etc. across the US for Credit/Debit card support; just add the information of your Credit/Debit card to your Passbook and make transactions on Apple Pay supported stores anytime in the US.
The banks that work with Apple Pay do not support all the cards, such as, personal credit cards, personal debit cards, prepaid cards, corporate cards, etc. Not all banks support all types of cards. Every bank supports some particular card. For instance, J.P. Morgan supports only Personal Credit cards. It does not support any other cards. You can get the detail information in the chart given below:
Updated List of Banks/Credit Cards That Support Apple Pay
#1. L&N Federal Credit Union
#2. UW Credit Union
#3. Commerce Bank
#4. America First Credit Union
#5. American Express
#6. Bank of America
#10. Commerce Bank
#13. Merrill Lynch
#14. Navy Federal Credit Union
#16. Regions Bank
#22. Fremont Bank
#23. National Institutes of Health FCU
#24. Security Service Federal Credit Union
#25. Consumers Credit Union
#26. Virginia Credit Union
#27. Cyprus Federal Credit Union
#28. Fairwinds Credit Union
#29. Mountain America Credit Union
#30. Partners Federal Credit Union
#31. Customers Bank
#32. A+ Federal Credit Union
#33. Amegy Bank of Texas
#34. America First Credit Union
#35. Bethpage Federal Credit Union
#36. California Bank & Trust
#37. Connex Credit Union
#38. Goldenwest FCU
#39. Huntington Bank
#40. KeyPoint Credit Union
#41. Meijer Credit Union
#42. National Bank of Arizona
#43. Nevada State Bank
#44. The Bank of Greene County
#46. Zions First National Bank
#47. Alliant Credit Union
#48. Altra Federal Credit Union
#49. Andrews Federal Credit Union
#50. Associated Bank
#51. BBVA Compass
#52. BECU (Boeing Employees’ Credit Union)
#53. Ent Federal Credit Union
#54. F&A Federal Credit Union
#55. Fifth Third Bank
#56. First Niagara Bank
#57. First Tech Federal Credit Union
#58. Golden 1 Credit Union
#59. INOVA Federal Credit Union
#60. Savings Bank of Danbury
#61. Star One Credit Union
#62. Uwharrie Bank
#63. Affinity Federal Credit Union
#64. Cabela’s CLUB
#65. Central Bank
#66. Credit Union of Southern California
#67. Farmers & Merchants Bank of Long Beach
#68. First National Bank of Omaha
#69. First Sentry Bank
#71. Grow Financial Federal Credit Union
#72. Ideal Credit Union
#73. Morgan Stanley
#74. Redwood Credit Union
#75. State Department Federal Credit Union
#76. Teachers Credit Union
#77. Technology Credit Union
#78. The Northern Trust Company
#79. TIB-The Independent BankersBank
#80. United Federal Credit Union
#81. Utah First Federal Credit Union
#82. America's Christian Credit Union
#83. America's Credit Union
#84. Arizona Federal Credit Union
#86. BMI Federal Credit Union
#87. Canton School Employees FCU
#88. Charles Schwab Bank
#89. Clearview Federal Credit Union
#90. First Community Bank & Trust
#91. First Community Credit Union
#92. First Credit Union
#93. First National Bank of Pennsylvania
#94. GTE Financial
#95. Gulf Winds FCU
#96. Hiway Federal Credit Union
#97. Independent Bank
#98. Jordan Credit Union
#100. Lake Michigan Credit Union
#101. Langley Federal Credit Union
#102. Los Angeles Federal Credit Union
#103. Members First Credit Union
#104. Michigan State University Federal Credit Union
#106. ORLN Federal Credit Union
#107. Prosperity Bank
#109. Sacramento Credit Union
#110. Salem Five Bank
#111. San Francisco Fire Credit Union
#112. Sandy Spring Bank
#113. Schools Financial Credit Union
#114. Silicon Valley Bank
#115. TruMark Financial Credit Union
#116. United Nations FCU
#117. Vantage Credit Union
#118. VyStar Credit Union
#119. Wanigas Credit Union
#120. Wings Financial Credit Union
The transactions you make through Apple Pay are safe and protected. Apple does not keep your transaction detail and even the retailer where you pay does not get your original Credit/Debit cards number. When you add your card detail in the Passbook, a unique Device Account Number is assigned along with it. The detail of your card is securely encrypted in the dedicated chip that is known as Secure Element in the iPhone 6/6 Plus or Apple Watch. When you make a pay the original information is not transferred to the retailer. Here, the DNA creates a transaction ID each time you make payment.
Note that if you run into an error – while adding your card to Apple Pay – that says the card doesn't support Apple Pay, it's most likely because the bank and Apple haven't decided to support the card for Apple Pay transactions.
Top 12 Best Banks for Small Business Banking | 2017 Ranking | Best Banks to Open a Business Account With
2017 RANKING & REVIEWS
BEST BANKS FOR SMALL BUSINESSES
Intro: Ranking the Best Banks for Small Business Accounts
When you’re a small business owner, where do you turn to for support and resources that will help you thrive, even in challenging situations? For many business owners, the answer is not surprising: your bank.
It’s with this in mind that AdvisoryHQ has researched and published this article of best banks for small business accounts and detailed small business bank reviews.
Each of the below banking firms (large or small) is considered a best bank for small business owners, and the details of why each made it onto this year’s small business banking comparison are also presented below.
These best small business banks have detailed programs for business owners and entrepreneurs who are looking for start-up loans, business accounts, small business financing, money transfer services, and payroll management among many other services.
Additionally, these best small business banks have major footprints across the U.S., with thousands of branches. As such, these banks for small businesses are best placed to serve the needs of millions of small businesses.
Even better– you don't need to have millions of dollars in assets or income to open an account with these top banks for small businesses.
Award Emblem: Top 12 Best Banks for Small Business Banking
AdvisoryHQ's List of the Top 12 Best Banks for Small Businesses
List is sorted alphabetically (click any of the bank names below to go directly to the detailed review section for that bank):
Top 12 Best Banks for Small Business Banking | Brief Comparison & Ranking
Best Banks for Small Businesses
Bank of America
BMO Harris Bank
Zions National Bank
Table: Top 12 Best Banks for Small Businesses | Above list is sorted alphabetically
Don't Miss: High Yield Bank Accounts
What the Best Banks for Small Business Accounts Can Provide to You
As a small business owner, you’re frequently facing day-to-day challenges that come with operation, whether that’s managing employees, handling customers or addressing growth challenges.
One area that small business owners shouldn’t have to worry about is their banking and the management of their money, at least in terms of how it’s being done.
That’s why it’s so essential that business owners make the right choice when searching for the best bank for small business banking.
A top rated best small business bank should be able to help small business owners maintain a sense of control and visibility over their money while providing the tools and support that contribute to growth.
An excellent bank for small businesses should also be one that’s convenient and alleviates burdens to the customer.
AdvisoryHQ's Selection Methodology
What methodology does AdvisoryHQ use in selecting and finalizing the credit cards, financial products, firms, services, and products that are ranked on its various top-rated lists?
Please click here “AdvisoryHQ9rsquo;s Ranking Methodologies” for a detailed review of AdvisoryHQ’s selection methodologies for ranking top-rated credit cards, financial accounts, firms, products, and services.
Detailed Review – Top Ranking Best Small Business Banks
Below, please find a detailed review of each bank on our list of top banks for small business owners. We have highlighted some of the factors that allowed these small business banks to score so high in our selection ranking .
As part of the U.S. banking system for more than 200 years, Bank of America is a global financial institution with approximately 4,700 retail financial centers and 16,000 ATMs.
This best bank for small business owners is well-known across the globe for its advanced technology, including award-winning online and mobile banking.
As well as consumer and commercial services, Bank of America also provides services to 3 million small business owners.
Small business services and products at Bank of America include fundamentals such as checking and savings accounts as well as credit and investing, cash management, payroll and more.
Key Factors That Enabled Us to Rank This Bank as a Best Bank for Businesses
Listed below are some of the services and offerings of Bank of America that led to its inclusion on this list of small business bank reviews and rankings.
Small business owners who bank with Bank of America have the opportunity to utilize Clover products, which are advanced point-of-sale devices designed with the intent of improving efficiency and reducing workload.
These smart and streamlined POS systems feature intuitive tools and customizable intelligence and allow business owners to manage a variety of tasks, including payment processing, inventory management, and employee scheduling.
As a best small business bank, Bank of America allows users to link these tools and products with traditional bank accounts to simplify financial and employee management.
Bank of America offers credit and lending options specifically for small businesses, which is why it’s rated as a best bank for a small business.
One of the signature card offers for small businesses is the Cash Rewards for Business MasterCard® . This card includes a number of benefits for business owners, including:
- 1% cash back on purchases
- 2% on purchases at restaurants
- 3% on purchases at gas stations and office supply stores (up to $250,000 a year and 1% after that)
- $200 statement credit when you spend $500 within 60 days of opening your account
- 0% introductory APR on purchases for the first 9 billing cycles
- No annual fee
- Redeem your cash rewards for cash back or deposit them directly into your Bank of America account
As one of the best banks for small business accounts, Bank of America offers not just the basics but also a suite of products that are specifically tailored to the needs of businesses.
This includes cash management tools that pave the way for business owners to run their organizations more efficiently and effectively.
Some of these tools include:
- Payroll services by Intuit
- Remote deposit online
- Account management
- Direct payments & invoicing
- Express tax services
- Treasury services for larger businesses
As a best bank for small business accounts, Bank of America offers two primary business checking accounts: Business Fundamentals® and Business Advantage.
Business Fundamentals is designed to have all the essentials a small business needs, including online banking, bill pay, account alerts, mobile banking, debit cards, and the option to link the account with a business savings account.
With Business Advantage, you receive all of those features as well as online account management, QuickBooks integration, an additional business checking account, and access to the Small Business Priority Service team.
BMO Harris was founded in 1882 as Harris and, since that time, has grown and expanded to become one of the largest Midwest-based banks.
BMO Harris includes personal banking products offered through more than 600 branches, as well as business and commercial solutions, making it a best bank for small business owners to consider.
As a top bank for small businesses, BMO Harris offers business-specific services like accounts, lending, cash flow, and payroll products.
Key Factors That Led Us to Rank This Bank as a Best Bank for Small Businesses
Detailed below are some of the reasons BMO Harris was selected as one of the best banks for small business accounts and other services.
One of the reasons BMO Harris is considered a pick for the best bank for business accounts is because of its many checking options.
Business owners can find the checking account that works for their individualized needs, ranging from Essential Business Checking, designed for businesses that maintain a low balance and have a low transaction volume, to Business Checking Analyzed, which is ideal for higher volumes and balances.
Also available is Business Advantage Checking, which is an interest-earning account offering exclusive discounts on other products, such as checks and loans.
As a best bank for small business, BMO Harris also offers options for non-profit organizations. The Non-Profit Small Business checking account has no monthly maintenance fee and flexible transaction costs, dependent upon the type.
Along with being a pick for the best bank for a business account, BMO Harris is also included in this small business banking comparison because of its services like payroll processing.
BMO Harris features two budget-friendly, simple payroll options that are both offered through its referral partner, Paychex.
These comprehensive payroll solutions are designed to help business owners spend less time in this area and put more attention on growing their business.
BMO Harris is not only one of the best banks for small business checking accounts, but it also has a full range of savings options. These include:
This account includes a competitive interest rate and flexibility with the option to withdraw funds as needed.
Business Prime Money Market
Rather than leaving cash on the sidelines, this account includes a competitive interest rate on higher balances, and the first 30 checks deposited per statement period don’t carry a transaction fee.
Business Prime Money Market Plus
This offers easy access to accounts at any time, and if you link your non-interest small business checking account, you can earn a higher interest rate.
Certificates of Deposit
This option is ideal if you’re looking for a long-term savings product. You can have your interest automatically deposited to your CD, paid to you by check or credited to another BMO Harris account.
BMO Harris Bank Debit MasterCard Business Card
As a best bank to open a business account with, BMO Harris also offers excellent debit and credit card options for account holders.
One of the signature debit cards is the BMO Harris Bank Debit MasterCard® BusinessCard, which offers convenient access to checking accounts as well as financial control.
Some of the features include:
- Access to detailed transaction records on your monthly account statements, including merchant name and location
- Compatibility with Apple Pay, Android Pay, & Samsung Pay
- Advanced chip technology
- Purchase Assurance provides coverage for most items you purchase if they’re damaged or stolen within 90 days of being purchased
- Car Rental Collison Damage Waiver insurance
- Travel Assistance Services
- MasterCard VAT Reclaim Service
- MasterCard Global Service
Capital One is a bank offering a broad range of services and products, not only to consumers and small business clients but also commercial clients.
This Fortune 500 financial institution is one of the nation’s 10 largest banks based on deposits, and there are branch locations throughout the country, including New York, New Jersey, Texas, Maryland, Virginia, and D.C.
Capital One business services include accounts, borrowing and investing options, business management services, and more.
The business tools from this best small business bank are designed to give owners a way to manage their accounts conveniently and easily.
Key Factors That Enabled This Bank to Rank as a Top Best Small Business Bank
The list below represents some of the main reasons Capital One was chosen as a best business bank.
Spark Business Checking is an excellent checking account option for small businesses because it’s a convenient, online-based digital account with no monthly transaction fees or limits, no minimum balance required, no monthly fees, and no fees for Allpoint ATMs.
Deposits are available the next day, a debit card is included for free, you can manage business finances on the go with the Spark Business mobile app, and this account includes free online bill pay and electronic invoicing.
You can also link your Spark Business Savings account for overdraft protection.
Capital One is not just one of the best banks for small business checking but also for general business management services, including Spark Pay, which is an innovative payment solution.
Spark Pay is a way to accept and process payments that includes the options to select from a mobile reader, digital register, payment terminal or an e-commerce store that simplifies setting up an online store.
Features of Spark Pay include the ability to synchronize multiple devices and users, inventory management, the ability to download transactions and reports, customized receipts, and options to create personalized promotions or deals.
Capital One is known for being not just one of the best banks to open a business account with but also one of the nation’s top providers of credit card solutions. Spark Business cards include the Spark Cash Back Rewards Cards and the Spark Miles Rewards card.
The Spark® Cash for Business card includes 2% cash back with Spark Cash as well as a $500 cash bonus.
With the Spark ® Miles for Business card, business users earn unlimited 2x miles on every business purchase, with no annual fee. Enrollees of this card also have the opportunity to earn a one-time miles bonus of up to 50,000.
One of the many ways that Capital One demonstrates a dedication to being one of the best banks for a business account is through not just its products but also its business resources.
Spark Business IQ is a program for entrepreneurs designed to guide them through business ownership and show them ways to maximize their finances and cash flow.
Spark Business IQ also features inspiring ideas and valuable guides that can help business owners create positive change not only for themselves but also for their customers.
Topics covered here include everything from preparing for new regulations and laws that impact small business owners to videos of inspirational speakers.
Chase is a large consumer and commercial banking institution that’s part of JPMorgan Chase & Co., with assets of $2.4 trillion and a global presence.
As one of the best banks for small business accounts, Chase serves almost half of American households. Its financial services including personal and small business banking, lending, mortgages, credit cards, and investment advisory.
Chase has 5,200 branches and 16,000 ATMs, and convenience is one of the reasons it was selected for this review of the top banks for small businesses.
Specific business services include standard business bank accounts, payment processing options, credit cards, and more.
Key Factors That Allowed This Bank to Rank as a Best Small Business Bank
When reviewing the best banks to open business accounts with, the following are some of the primary reasons Chase was included in this small business banking comparison.
Business Checking Accounts
An essential component of being ranked as a best bank for business accounts is having options that are well-suited to a variety of needs.
For example, you want to have accounts that are designed for new businesses as well as mature businesses that are in growth or transitional phases.
Chase is unique because it’s not just one of the best banks for startups, but it also has account options for any business, regardless of the phase they’re in.
There are several different business checking account options, including Chase Total Business Checking® , Chase Performance Business Checking℠ , and Chase Platinum Business Checking℠ .
Total Business is designed for growing businesses to manage cash flow conveniently. Performance Business is for mid-sized organizations with simple cash management requirements, and Platinum Business Checking is for large businesses with high monthly transaction requirements.
One of the signature credit cards available from this best bank for small business owners is the Chase Ink Business Cash℠ Card.
This card offers premium rewards and benefits, including:
- $300 bonus cash back after spending $3,000 in purchases within the first 3 months
- 0% APR on purchases and balance transfers for 12 months
- No annual fee
- Earn 5% cash back on the first $25,000 spent each year on office supply stores, phone, landline, internet, and cable tv bills
- Earn 2% cash back on the first $25,000 spent each year on gas stations & restaurants
- Earn 1% cash back on all other purchases with no limits
Customers with business accounts from Chase have access to Chase Mobile Banking so that they can do business and bank anywhere, anytime.
Mobile banking options include the free Chase Mobile app which can be downloaded to an iPad, iPhone, Android or Kindle Fire, as well as the mobile website. Business customers can also use text banking to receive fast information about their accounts.
With Chase QuickDeposit, customers can scan and deposit checks electronically without visiting a branch. With Person-to-Person QuickPay, it’s easy to send money to anyone, anywhere and also to have them send you money.
As a selection for one of the best banks for small businesses, account holders with business checking accounts receive free Chase Business Debit Cards.
Chase Business Debit Cards not only provide business owners with convenience to make deposits and withdrawals at ATMs and manage their activity online, but they can also save time by setting up recurring payments through the Automatic Bill Payment option that comes with cards.
Business owners can also utilize Chase Business Associate Debit cards by giving them to employees to ensure safe and quick purchases.
Daily limits can be set for purchases and withdrawals, and a business owner will receive an itemized list of all employee purchases on his/her monthly Chase Business checking statement.
Citizens Bank is a fully-independent traded company with a history that goes back more than 150 years.
This best bank for small business owners defines its vision as delivering the best possible banking experience to customers, and its values include exceeding customer expectations, doing the right thing, thinking long term, and working together.
Along with Citizens being one of the best banks for small businesses, it also has services and products aimed at personal banking, investing, and commercial entities.
Citizens’ business services include bank accounts, business loans, and cash management tools and services.
Key Factors That Enabled Us to Rank This Bank as One of the Best Banks for Businesses
When reviewing the best banks for small business checking and other services, the following are some of the reasons Citizens stood out and was included in this small business banking comparison and ranking.
Clearly Better Business Checking
Citizens is considered among the best banks to open a business account with, and one of the signature checking accounts for businesses is the Clearly Better Business Checking® account.
This option carries with it no minimum monthly balance or maintenance fee, and it’s a great account for owners seeking something that will grow along with their business.
Along with no fee and no minimum balance requirement, account holders can take advantage of up to 200 check transactions per statement period at no charge, unlimited online access to accounts, and use of Citizens Mobile Banking.
Along with essential business checking account options, Citizens Bank also uniquely offers an account designed specifically for nonprofit businesses and organizations, clubs, and associations.
Account holders can select between interest-bearing and non-interest-bearing accounts, and the features of the account are specifically targeted to the unique needs of nonprofits.
The Association Checking with Interest is an interest-bearing checking account for nonprofits that have limited activity.
Along with being one of the best banks for small business checking accounts, Citizens also offers services tailored to cash management.
These services let businesses manage their cash flow efficiently and easily. Specific cash management services include:
- Collection services
- International banking & foreign exchange
- E-Z Deposit®
- Information reporting
- Sweep services
accessMONEY® Manager is a signature Citizens Bank offering for business account holders that provides them with all the tools and information they need right on their desktop.
As a best bank for small business, the accessMONEY Manager system allows business owners to:
- Initiate myriad transactions from one location
- Customize money management to improve efficiency, speed, and control
- Get bank account reports anytime, anywhere
FSG Bank is a community financial institution that serves clients both regionally and nationally. This best bank for small business specializes in providing a localized element to the services it provides consumer, business, and wealth management customers.
Core values include serving its clients, communities, and one another; excelling at everything it does; and being a significant contributor to the success of its clients, communities, and shareholders.
Under the umbrella of business services provided by FSG are loans and lines of credit, real estate and construction, business accounts, and Small Business Administration loans.
Key Factors Leading Us to Rank This as One of the Best Banks for Small Businesses
Represented below are essential reasons FSG was included on this list of small business bank reviews.
FSG Blue Business 100 checking account is one of the reasons FSG is often considered a best bank for startups. This account is designed specifically for the needs of startups, and it includes the tools and features required for a business with limited transaction activity.
No minimum balance is required, and it includes 100 transaction items per month. The account also includes a free debit card, providing easy access and control of money.
All of the business checking accounts from FSG include basic online banking, bill pay access, and free mobile banking.
FSG isn’t just one of the best banks for startups. This leading community bank also includes checking options for growing businesses with more complex requirements. One of those accounts is Analysis Checking.
Analysis Checking is designed for businesses that need to manage complex cash issues and a higher volume of transactions. The balance of this account accrues an earnings credit. That credit can then be used to offset or eliminate transaction fees.
This account also includes Specialized Treasury Management services and products and dedicated support from an expert team.
As well as being a pick for one of the best banks for small business checking, FSG also has three business savings account options.
The Blue Savings account comes with a minimum balance requirement of $300, free online banking, free ACB Go! Mobile banking, and free ACB Go! Mobile deposit.
The Gold MMA savings account has a minimum balance requirement of $3,500, and the Black MMA account has a minimum balance of $10,000.
All three business savings accounts from this best bank for small business owners have 6 free withdrawals each month.
FSG is an SBA Preferred Lender, which means it’s able to work quickly to make credit decisions for applicants. A Small Business Administration (SBA) loan is designed to help American small businesses launch, grow, and thrive.
SBA doesn’t supply the funding but, instead, works with FSG and provides a percentage guarantee on the loan. These loans can be used for a range of projects, including purchase, construction, renovation, acquisition, and debt refinancing.
With total assets of $205 billion, this Atlanta-based bank is considered one of the top in the country.
SunTrust is located in some of the highest growth markets in the U.S. and is convenient for many customers, with about 1,400 retail branches and more than 2,100 ATMs located throughout the country.
SunTrust is considered one of the best banks for small business checking as well as savings. Its tools are designed to help small businesses optimize their cash flow, manage receivables, grow successfully, and simplify how they make and receive payments.
Key Factors That Enabled This Bank to Rank Among the Best Banks for Small Businesses
The list below represents some of the main reasons SunTrust was included on this list of the best business banks.
Direct Connect for QuickBooks
SunTrust business account holders can take advantage of SunTrust Direct Connect, which syncs accounts with QuickBooks software.
This means all of your account information is organized and centralized, and you can pay bills and download transactions quickly and easily.
There is no double entry of transactions or account information needed, so you spend less time on account management.
SunTrust Direct Connect also has the following features and advantages:
- Access your account activity and balances from the previous day
- Download all posted transactions in QuickBooks
- Post unmatched transactions to your chart of accounts in QuickBooks
- Transfer funds between personal and business accounts at SunTrust
- Schedule for bills to be paid online
Business Sweep Accounts from SunTrust are designed to help business owners through the use of fully-automated cash management solutions.
They save employees time and minimize interest payments as well as the cost of holding cash. Business Sweep processing occurs at the end of each day, based on the instructions you provide.
The net available balance in your commercial checking account is calculated and compared to your targeted balance as each workday comes to a close.
If your net balance is greater than the target balance, your excess funds are used to pay down lines of credit, or excess funds are transferred to your investment account of choice.
If your net balance is less than your target, transfers from your chosen investment account are made to cover the shortage, or there is borrowing against your line of credit.
Using the SunTrust Online Cash Manager allows account holders to manage their company’s accounts anytime and in real time.
This cash management system provides secure access to your financial information so you’re already prepared to make the right decisions.
Online Cash Manager provides access to the following services:
- Account services
- Mobile banking
- Security measures
- Bill Pay
- Fraud Inspector
- Online Payroll
- ACH Services
- Business Card
A SunTrust Business Card is a simplified, streamlined, and convenient way to manage payments. The SunTrust MasterCard® Business Debit Card can be used not only by business owners but also by associates and employees, making the management of cash flow easy to control.
This business debit card also includes the option to pay bills online, either one time or on a recurring basis, and each card is embedded with an EMV Chip for the utmost in security.
Account holders can also qualify for rewards and automatic rebates for their business spending when they participate in the MasterCard Easy Savings program, or they can upgrade to the Delta SkyMiles World Debit Card.
Synovus has a history of serving as a leading community bank and as one of the top banks for small businesses since 1888.
Synovus is one of the largest community banks serving the southeast region of the U.S., including Alabama, Florida, Georgia, South Carolina, and Tennessee. Broad service categories offered to customers include personal, business, and corporate banking as well as wealth management.
In terms of business services, options include lending, trust solutions, and traditional deposit accounts.
Key Factors That Led Us to Rank This as One of the Best Small Business Banks
Primary reasons Synovus was selected as one of the best banks to open a business account with are highlighted below.
Pro Business Checking is a Synovus offering designed to offer versatility, flexibility, and access to the essentials for business owners.
Account holders of Pro Business Checking have access to Business Internet Banking, with Level 1 access being included for free. This allows you to check balances, transfer funds, and complete a variety of other tasks.
You can keep your business and personal expenses separate with the use of a Visa Business check card, and you can deposit up to $10,000 in cash for free, with 200 combined debits, credits, and deposited items per statement cycle.
Other features include a 10% discount on your first order of business checks and no-fee enrollment in Check Recovery Services.
Preferred Business Checking
Preferred Business Checking from Synovus is a feature-rich account that also offers Treasury Management services for larger businesses.
To compare business bank accounts, the Preferred Business Checking account includes access to Business Internet Banking, a Visa Business check card, and $100 off the first order of checks.
When you decide to utilize the Treasury Management products and services, you’ll be able to maximize returns, simplify reconciliation, reduce payments, improve collections, and have increased funds availability.
Organizations with 10 or more employees who use this account are also eligible to offer Workplace Checking to those employees.
As well as being one of the best banks for business accounts, Synovus is unique because of how it has structured its Business Banking system.
This provides constant access to accounts and also serves as a way to complete tasks, such as wire transfers and bill payment online.
What’s unique is the service options, which include Level One, Level Two, and Level Three. Each is designed to meet the specific needs of particular types of businesses.
For example, Level One is designed for sole proprietors and small business owners who want to view simple account activity or transfer funds between accounts.
Level Two includes the ability to view images of deposit tickets and deposited items, and do things like stop payments.
Level Three includes all of the features of the lower two levels, and you can also create special reports and use the BAI export module, select from ACH origination options, and take advantage of wire transfer tools.
In addition to being a pick for the best bank to open a business account with, Synovus also features payroll services through a third party vendor: Inova Payroll.
This vendor helps businesses of all sizes to make quarterly and annual payroll tax payments and filings, and it also includes real-time access to records.
There are online, phone, and fax input methods; no conversion fee; and it offers single database technology to eliminate the time requirements that come with synchronizing data.
This bank delivers a range of retail and commercial banking products and services, and, through its subsidiaries, it also offers leasing, equipment finance, and auto financing in all 50 states.
This bank is a reliable, well-capitalized bank that works to deliver superior service consistently and help customers achieve their goals.
Small business services from TCF include checking, money markets, credit cards, and personal loans, all of which are designed to be flexible and help business owners grow their organizations.
Key Factors Considered When Ranking This as One of the Best Business Banks
Detailed below are some of the essential reasons TCF was included on this list of the best banks for small businesses.
TCF Small Business Checking
TCF® Small Business Checking is one of the reasons this is often considered one of the best banks for startups.
This checking account is designed for limited activity, but it offers convenience and no monthly maintenance fees, with 15 qualifying withdrawals or a $2,500 average monthly balance.
There is a low minimum opening deposit, free online statements with check images, and you can receive a TCF Business Debit Card and free withdrawals at TCF ATMs.
Also available with this business checking account are up to 25 complimentary online bill payments when you use online statements.
Small Business Money Market
As a best bank for small business owners, TCF offers dynamic savings account options.
The Small Business Money Market is specifically designed as a business-centric saving option that lets customers put their idle cash to use by earning interest.
With a $1,000 minimum balance, customers can avoid the monthly maintenance fee, and you can use your TCF Business Debit Card to make purchases directly from this account.
Account holders can also write checks from their Small Business Money Market, so it’s a flexible savings option.
A step above the basic Small Business Money Market is the Premier Money Market, which is ideal for businesses with large savings balances. Account holders receive the highest available money market rate, along with access to funds.
Small Business Credit Cards
Part of why we selected TCF for our small business banking comparison and small business bank reviews stems from their comprehensive business credit card offerings.
There are three small business credit cards available to TCF customers. The first is the Business Edition® Visa® Card with Absolute Rewards® , which has no annual fee, and you earn points on qualifying business purchases.
The Business Edition® Visa® Card is designed to help business owners maintain control and visibility over their cash flow, and it also has low introductory rates.
The Business Edition® Secured Visa® Card is excellent for startups, as they’re just beginning to build their businesses and may need assistance establishing credit history.
TCF is great not only if you’re looking for the best banks for small business accounts, but it also has payment processing and payroll solutions that are valuable to business owners.
Payment processing options are available through a partnership with First Data, and all of the payment processing solutions offered with TCF mean next-day funding when they’re deposited into a Business Checking Account.
In terms of payroll processing, ADP has partnered with TCF to provide not just payroll but also a full suite of tax and HR tools, making TCF a dyamic and best bank for small business accounts.
Offering a full array of not only small business banking options but also consumer banking and mortgages, loans, and wealth management products, U.S. Bank operates on the motto of “making possible happen.”
U.S. Bank is part of U.S. Bancorp, which maintains $446 billion in assets. There are more than 3,100 banking offices operated by the company throughout the country, and it’s the fifth largest commercial bank in the U.S.
Small business banking services include checking and savings, credit and financing, payment acceptance, and employee services.
KeyFactors That Led to the Inclusion of This Bank as a Best Bank for a Small Business
The list below showcases some of the reasons U.S. Bank is included in this small business banking comparison as one of the best banks for small businesses.
Distinctively, U.S. Bank offers four business checking account packages. These packages include:
Silver Business Package
The Silver Business Package is designed for banks with limited transaction activities, and it features essential products and services to save business owners and employees time and money.
It comes with no minimum balance requirements or monthly maintenance fees.
Gold Business Package
The Gold Business Package is for businesses with moderate transactions, and features include tools for the management of cash flow. If you use a U.S. Bank credit card, the monthly maintenance fee can be waived.
Platinum Business Package
With the Platinum Business Package, businesses will enjoy the best rates, rewards, and discounts available. It’s also advantageous because it consolidates accounts and provides access to advanced services.
Premium Business Package
For business owners who want a small business bank account that is equipped to handle larger balances and complex investments, the Premium Business Package is suited to match the needs of larger businesses.
As an analyzed account, the Premium Business Package is the best way to increase the profitability of higher balances.
Business Savings Sweep is a product offering that lets account holders automate how their money is moved between their checking account and their interest-bearing savings account rather than having cash sit unused.
At the end of each business day, excess balances are transferred from a U.S. Bank checking account to an interest-bearing savings account.
If your checking account balance goes below a set amount, funds are automatically moved over from your investment account to cover that.
It’s also a tiered system, so the more business account holders save, the more interest they’ll earn.
As well as being one of the best banks for small business accounts, U.S. Bank also offers a full array of business financing and credit so clients have access to the capital they need.
Small business credit and financing options from U.S. Bank include:
- Business ownership & expansion loans
- Commercial real estate financing solutions
- Term loans so you can finance equipment quickly & easily
- Lines of credit designed to give working capital to cover any variety of operational expenses
The U.S. Bank Business Edge™ Debit Card offers business owners and their associates a simplified way to manage cash and expenditures.
This debit card can be used to make purchases anywhere Visa is accepted, and it lets business owners quickly and easily monitor not only their own expenses but also what their employees are spending.
Monitoring account activity can not only be done through online banking, but business owners can also set up customized email and text alerts so they always maintain visibility of their finances.
Wells Fargo Business Review
Based in San Francisco and with nearly $2 trillion in assets, Wells Fargo is the third-largest bank based on total deposits, according to FDIC data.
Wells Fargo has often been ranked as the “Most Respected Company in the World” and “The Most Admired Company in the World” by media outlets, including Barron’s and Fortune.
Wells Fargo Small Business is an area of service offering banking and deposit products as well as loans and credit, merchant services, insurance, and payroll services.
Key Factors That Led to Our Ranking of This Bank as a Best Bank for Small Businesses
Criteria below highlight some of the reasons Wells Fargo was selected as one of the best business banks.
One of the primary reasons Wells Fargo is included in this ranking of the best banks for small business checking is because of the options it has available.
The basic business checking account is called Business Choice Checking, and it’s an account for growing businesses with several different ways to avoid the monthly service fee.
The Platinum Business Checking account is designed for more established businesses and those companies with more checking activity.
Finally, the Analyzed Business Checking option is for businesses with a high transaction volume. It’s also ideal for businesses that require treasury management services.
As well as offering some of the best options for opening business checking accounts, Wells Fargo is a good bank for small businesses because of its credit and financing products.
Options include credit cards and lines of credit that are flexible and ideal to manage cash flow effectively as well as options such as the Small Business Administration Loan, which is better-suited to long-term goals.
Wells Fargo business credit card options include the Business Platinum Card, the Business Secured Credit Card, and the Business Elite Card.
Wells Fargo provides a full slate of payroll services designed for a variety of types of businesses, regardless of the phase of the business cycle they’re in. These services and products include:
- OptRight Payroll Solutions to simplify payroll and provide banking discounts
- Workforce Management Solutions designed to automate employee time-keeping
- Wells Fargo At Work is an employee benefits program that includes discounted banking services
- HR360 gives access to HR forms, benefits assistance, and other information related to human resources laws and regulations as it pertains to small businesses
- Workers’ compensation options let Wells Fargo customers integrate these premiums into their payroll processing
When small businesses rely on Wells Fargo for their banking needs, they’ll have access to valuable cash flow tools through the Money Map program.
This lets business owners gain more control of their expenses, maximize their cash flow, and plan for future needs.
One of these tools is the Business Spending Report, which tracks business expenses, automatically categorizes them, and lets you see how much you’re spending in each group. You can track deposits and view graphs and charts as well.
With Budget Watch, you can design monthly budget goals for your business in key categories, compare your spending to your budget, take advantage of budget alerts, and view your progress in charts and graphs.
Zions Bank is a community bank based in Utah and founded in 1873, making it one of the oldest financial institutions in the region.
Zions Bank works to bring value to individual consumer customers as well as small and middle-market businesses, nonprofits, and larger corporations.
Zions Bank unites traditional banking with new technology and maintains 125 full-service locations as well as hundreds of ATMs.
Zions Bank offers a full selection of business services, including checking, savings, loans, treasury management, and educational resources.
Key Factors That Led to Our Ranking of This Bank as One of the Best Banks for Small Business Accounts
Explained in the below list are some of the reasons Zions was included in this ranking of the best business banks.
One of the signature account offerings available to small business clients is the Zions Bank® Business Checking Account which lets account holders earn rewards, including preferred savings and money market rates.
The Business Checking account requires a low opening minimum deposit, and it offers a high availability of transactions per month, creating a sense of flexibility for holders of the account.
It’s ideal for all businesses, from startups to established companies. If the minimum balance is maintained, there is no monthly maintenance fee, and additional services include Treasury Management, Merchant Services, Anytime Deposits, and the availability of e-invoicing and payments.
Visa® Business Debit Cards from Zions include benefits such as reliability and convenience but also wide global acceptance and cash back rewards through the Zions AmaZing Deals program.
This program lets participants receive 10, 20 or up to 50% cash back by shopping at certain stores, restaurants, and service providers.
Additionally, when you have a linked business checking account with Zions, you have access to up to 12 unique cards with individual spending limits that are all tied to the same account.
Mobile Business Banking from Zions lets account holders access the information they need at anytime and on the go, which is ideal for busy business owners.
Compatible with Android and Apple, the mobile banking app includes the following features:
- Touch ID features for iPhone so you can see all of your information without entering login credentials
- A passcode feature allows users to see their balances more quickly
- You can check balances, make deposits & transfers, see transactions, & more
- Deposit checks anywhere you have mobile phone access by taking a picture
- Mobile Bill Pay lets business clients pay their bills, cancel payments, & more
Along with deposit accounts, Zions Bank was selected for this ranking as a contender for the best bank for small businesses because of its loan options.
Business loans available through Zions Bank include:
- Lines of credit, including business secured or unsecured options, as well as equipment financing lines and Visa business cards
- Term loans which are secured or unsecured and designed for specific needs, such as business expansion or to finance equipment
- Real estate secured lines of credit designed to be used as improvement, construction or real estate loans
- SBA loans which are flexible in terms of what they can be used for
Conclusion – Top 12 Best Banks for Small Business Banking
For a small business owner, the bank he or she chooses to do business with is often an essential component of that individual’s success.
Choosing the right bank can help small businesses grow and thrive and provide the best financial products and services for their specific needs.
The above names listed on this small business banking comparison represent excellent financial institutions that don’t just offer products to small business owners, but also cater to the needs of that population.
Owning a small business is often packed with challenges, but when you partner with the right bank, many of these difficulties can be overcome successfully.
The names on this list of the best banks for small business accounts are exemplary in how they address the constantly evolving needs of customers, from the technology and convenience they offer to the reputation and level of service they’re known for.
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