Best Banks for Startups and New Businesses of 2025

Different types of companies will benefit from different types of small-business banks. Our picks for entrepreneurs largely working on their own are below. If you're fronting a startup with venture backing, jump to our picks for funded companies.

Best banks for new businesses

✅ Why we like it: American Express Business Checking is a great choice for small-business owners who value convenience and round-the-clock customer support. Between that account’s 1.3% APY and the startup-friendly suite of AmEx business credit cards, this institution offers a lot of value for entrepreneurs.

🚫 Look elsewhere if: Your business takes many payments in cash (AmEx doesn’t accept cash deposits).

✅ Why we like it: Axos's business checking account isn't particularly special, but the bank offers a competitive business savings account that pays 3.8% APY as of this writing. Both offer great sign-up bonuses. And customers with high balances can take advantage of an Insured Cash Sweep network to expand their FDIC insurance to up to $265 million in deposits.

🚫 Look elsewhere if: You want to develop a relationship with a lending institution. Axos offers SBA loans through a partner but isn't a lender itself.

» MORE: Best banks for small-business loans

✅ Why we like it: Bank of America offers all the services you’d expect from a national bank — business checking and savings accounts, business lines of credit, credit cards and even SBA loans. And if your average checking account balance exceeds $20,000, you can qualify for bonus credit card rewards, a higher interest rate on savings and discounts on business loans, payment processing and payroll services.

🚫 Look elsewhere if: You want to avoid a monthly fee or fees on services like wire transfers — Bank of America, like many brick-and-mortar banks, charges relatively high ones.

✅ Why we like it: Bluevine’s free business checking account is a good fit for small-business owners seeking to maximize value and convenience. While Bluevine is a financial technology company, not a bank, it offers all of the banking services most entrepreneurs need via a partnership with Coastal Community Bank — like FDIC insurance, unlimited fee-free transactions, checks, wires and a top-of-the-line 1.5% APY (which can go higher for paying customers). Bluevine also says it can fund business lines of credit in as little as 24 hours. Read our review.

🚫 Look elsewhere if: You make frequent or large cash deposits, as Bluevine's fees may add up.

✅ Why we like it: Capital One's business checking accounts include unlimited in-person and electronic transactions with no fees, which is rare for a brick-and-mortar bank. Its cash deposit fees are low — $5,000 in fee-free deposits each month and then just $1 per $1,000, and deposits at certain Allpoint+ ATMs are free. Plus, Capital One also offers some excellent business credit cards.

🚫 Look elsewhere if: You don't live near a Capital One branch. They're concentrated in eight states and Washington, D.C.

✅ Why we like it: Chase is best for small-business owners who want a traditional banking experience, including branch access and an ongoing relationship with a banker. Chase serves businesses of all sizes and offers a variety of loan, credit card and business savings products. Read our review.

🚫 Look elsewhere if: You want to avoid paying many fees on your checking account — Chase, like most brick-and-mortar banks, charges quite a few.

✅ Why we like it: Grasshopper Bank serves startups specifically. Its business checking account is a good fit for businesses that don’t handle cash, as account holders can’t access ATMs — but the account offers lots of value in other ways, including up to 1.8% APY on balances and cash back on debit card purchases. Grasshopper also makes SBA 7(a) and 504 loans, general partner loans, fund capital call lines of credit and net asset value loans. Read our review.

🚫 Look elsewhere if: Your business takes many payments in cash (Grasshopper doesn’t accept cash deposits).

✅ Why we like it: Live Oak Bank was the second-largest SBA 7(a) lender in the U.S. by dollar amount in the 2024 fiscal year. You don’t have to bank with Live Oak to apply for its SBA loans — but it’s worth a look for its business savings account, which pays 3.5% APY. That makes it a great place for your emergency fund. Read our review.

» MORE: Compare the best SBA lenders

🚫 Look elsewhere if: Your top priority is a checking account — Live Oak's doesn't have much to offer.

✅ Why we like it: Relay is a fintech company that offers a standout free business checking account. Users can create up to 20 sub-accounts, which makes Relay a good fit for larger small businesses with more complex budgeting systems. Startups may also want to note Relay’s low wire transfer fees: Incoming wires are free, and outgoing wires cost just $5 for domestic transfers and $10 for international transfers. The company's savings account is worth a look, too. Read our review.

🚫 Look elsewhere if: You want to turn to your banking partner for financing someday. Relay offers credit cards to certain customers, but you'll need to go elsewhere for a business line of credit or term loan.

Bank accounts designed for venture-backed startups

✅ Why we like it: Brex offers both banking and corporate card services designed for venture-backed startups and mid-market companies. Its program is a particularly good fit for businesses with lots of travel needs, as Brex offers its own travel management platform and you’ll earn higher rewards rates on travel bookings than on other types of spending. Read our review.

🚫 Look elsewhere if: Your business hasn't raised venture funding. To qualify for Brex, you'll need at least $100,000 in angel funding plus $50,000 in cash or at least $1 million per year in annual revenue.

✅ Why we like it: Mercury customers can open a business checking account and use a treasury account to grow their business savings, and wire transfers in U.S. dollars are free. Through Mercury’s corporate credit card program and its associated software, you can issue physical and virtual cards to your team members and set controls on each one. And this fintech also offers working capital loans and venture debt financing. Read our review.

🚫 Look elsewhere if: Phone-based customer support matters to you — Mercury’s is primarily offered via email and messaging.

✅ Why we like it: Like Mercury and Brex, Rho offers business checking and treasury accounts along with corporate cards and spend management software. Rho also offers a whopping $75 million in FDIC insurance coverage via its Insured Cash Sweep network, though — far more than Mercury’s $5 million or Brex’s $6 million. Read our review.

🚫 Look elsewhere if: You routinely take payments via check. Rho offers free wire transfers and same-day ACH transfers, but deposited checks may take as long as six or seven business days to clear.

How to choose a startup business bank

The best banks for startups typically offer a free business checking account, or one with minimal fees that are easy to get waived. That will help you separate your business and personal finances right away, which is essential to your business's financial health.

From there, look for the following:

• Additional banking products. Business credit cards for startups, business lines of credit and startup business loans can help support your new business through multiple stages of growth. 

• The right kind of customer service. If your business is brand new, personalized attention from a banker at a local bank or credit union might offer more useful support than the customer service offered by a national bank or fintech company. If you’re a founder chasing fast growth, a fintech company that focuses on serving businesses like yours may be a better fit.

• Tools to help fill gaps or streamline your operations. Many of the top banks for startups have built-in bookkeeping and invoicing software or dashboards that help you track spending and generate cash flow projections. 

• Seamless integrations with popular business software. Even if you outgrow those free, built-in tools, your business bank account syncing with popular products like QuickBooks or Zoho can help ensure it scales with you.

• Ample protection for your deposits. Split your deposits between multiple business banks to stay within the FDIC-insured cap ($250,000 per depositor, per institution, per ownership category) and maintain access to funds in an emergency. Alternatively, you can seek out a sweep network.

• Sweep accounts that leverage a network of banks. Banks in the IntraFi Network can offer two different services — Insured Cash Sweep service, or ICS, and Certificate of Deposit Account Registry Service, or CDARS — that spread your deposits across multiple financial institutions within the network. No more than $250,000 in principal and interest is kept with any one bank, so you can have full FDIC insurance on millions of dollars in deposits. (Neobanks that partner with banks in this network may also offer these accounts.) Cash management accounts, like the ones offered by Brex or Arc Technologies, function in a similar manner. These accounts are typically a good option for startups with deposits in the millions.