As the largest business lender in terms of loan amounts and borrowers, Wells Fargo heads our list of the best banks for anyone trying to start or expand a small business.
Having all your banking in one nearby place makes it much easier to manage —so if Capital One is too far away, you might be better off looking closer to home.
We chose PNC Bank as another great place to open your business checking account thanks to its relatively high limits on free transactions and cash deposits.
Besides participating in the government's SBA loans, Wells Fargo also offers several of its own business financing options.
It carries a greater variety of these loans than its largest competitors in Chase and Bank of America, reflecting Wells Fargo's interest in small business banking.
You can avoid paying the fee with practically any combination of other PNC business products, ranging from loans and credit cards to PNC Merchant Services® for payment processing.
Otherwise you can simply maintain ,000 in your balance to waive the monthly fee.Most small businesses will find it easy to meet the minimum requirements set by the bank.Even those looking to spend much less will find that Chase offers more than one credit card option that can fit into their finances.Third party sites may have different Privacy and Security policies than TD Bank US Holding Company.You should review the Privacy and Security policies of any third party website before you provide personal or confidential information.Capital One's Spark Business Basic Checking and Spark Business Unlimited Checking accounts are the best choices if you're concerned about processing a high number of credit and debit transactions.This is the only bank we've found that offers free unlimited transactions, a significant advantage if your monthly traffic exceeds the 500 free transactions allowed on most other business checking accounts.With Spark Business Unlimited Checking, you won't have to pay any fee for cash deposits, either —provided, of course, you work within range of a Capital One branch or ATM.The Spark Business Unlimited Checking Account also allows up to 5 free domestic wire transfers each month, which can be a great way to access this account if you're located far from Capital One's physical locations.We found two banks whose business checking accounts stand out as excellent examples of an ideal banking setup for a small business.Capital One and PNC operate branches in different areas of the country, so we've included analyses for both banks, as well as a discussion of how their account features might favor different types of small businesses.