Business.com
Buy Buy
Home » Directory » Financial Services » Banking » Banking Institutions

Banks

Quickly find business banks and banking institutions, including retail banks, savings and loans, credit unions, investment banks, and commercial banks. Review a list of banks that offer business banking options and online banking services.
Banks
Beat the US average yield, pay no monthly fees, and get 24/7 online access with our Money Market accounts. We have been banking since 1873. Start Now!
Learn More | Open An Account | Contact Us
www.ZionsBank.com
Wachovia Bank - Official Site
Find the Checking Account that Fits Your Needs - Compare & Apply Online.
www.Wachovia.com
Washington Mutual Banking
Switch to WaMu Free Checking. Enroll 100% online. No monthly fee!
Start Now! | Apply On-line | Pick A Perk
www.WaMu.com
Business Line of Credit as Low as Prime + 0%
Up to $100,000 in capital you can draw on anytime, for any business need. No app, annual or access fees. Must have great credit. Open online today.
Business Checking | Business Savings | Line of Credit
SwiftFinancial.com/Business_Loans
Banks
View info on banks. Use our Free Tools and Research.
www.Banks.com
WaMu Banking
Switch to WaMu Free Checking. Enroll 100% online. No monthly fee!
wamu.com
3.15% APY Savings Account
New from E*TRADE Bank. Free One-Click Transfers. Apply Now!
Open an Account | Pricing and Rates
ETRADE.com
Bank of America ®
Get Free Checking, Online Bill Pay, Security Protection & More - Apply.
www.BankofAmerica.com
Open A Savings Account
Earn 3.05% APY* at HSBC Direct No minimums. No fees. FDIC insured.
HSBCdirect.com
Savings Account
Earn 2.01% APY on Checking. Get Bill Pay, No ATM Fees and More.
www.schwab.com
Bank Accounts
Get A High Interest Checking Rate When You Open An eOne Account
www.salemfivedirect.com
2.75% APY at Emigrant
Earn 2.75% APY on your savings at Emigrant Direct. Learn more!
www.EmigrantDirect.com
Listings
Banks
View info on banks. Use our Free Tools and Research.
www.Banks.com (Paid)
3.15% APY Savings Account
New from E*TRADE Bank. Free One-Click Transfers. Apply Now!
Open an Account | Pricing and Rates
ETRADE.com (Paid)
Banks
Beat the US average yield, pay no monthly fees, and get 24/7 online access with our Money Market accounts. We have been banking since 1873. Start Now!
Learn More | Open An Account | Contact Us
www.ZionsBank.com (Paid)
Business Line of Credit as Low as Prime + 0%
Up to $100,000 in capital you can draw on anytime, for any business need. No app, annual or access fees. Must have great credit. Open online today.
Business Checking | Business Savings | Line of Credit
SwiftFinancial.com/Business_Loans (Paid)
Citibank's Country Capabilities
Directory of Citibank's worldwide offices.
www.citibank.com
Wachovia Bank - Official Site
Find the Checking Account that Fits Your Needs - Compare & Apply Online.
www.Wachovia.com (Paid)
Washington Mutual Banking
Switch to WaMu Free Checking. Enroll 100% online. No monthly fee!
Start Now! | Apply On-line | Pick A Perk
www.WaMu.com (Paid)
WaMu Banking
Switch to WaMu Free Checking. Enroll 100% online. No monthly fee!
wamu.com
Bank of America ®
Get Free Checking, Online Bill Pay, Security Protection & More - Apply.
www.BankofAmerica.com
Open A Savings Account
Earn 3.05% APY* at HSBC Direct No minimums. No fees. FDIC insured.
HSBCdirect.com

Guide to Banks for Small Business

Not all business banking is created equal. Find the right banking institution for your small business.


 
 

Business Banking Basics

  • A local small business bank may be convenient, but big banks have more expertise.
  • Bank online if you don't need branch services often — it's cheaper.
  • Business banking fees are on the rise. A small business bank may offer reduced rates.
 
 
Every banking institution has the same marketing message these days, either blue-gray corporate power, sunny, hometown simplicity or, ideally, both. But the reality is, some small business banks are good at servicing specific niches and types of businesses; other banks excel at completely different markets. A lot depends, too, on where you live. Banks have consolidated in recent years, but many remain regional entities at best.

When choosing a banking institution for your business needs, it's best to look beyond the marketing at some key indicators of their abilities:

1. Branch banking and personal business banking services.
2. National banking networks and advanced small business bank know-how.
3. Automated banking services to bank online and by phone
4. Fee structures for business banking.

Action Steps

The best contacts and resources to help you get it done

Choose a small business bank for its branch banking and personal banking For a small business bank, the best bank is the bank that's nearest or has the most convenient branches, especially if you handle a lot of cash and checks. A local banker is likely to be more aware of your business and its prospects, and there are often personal connections that can help.

I recommend:  Bank of America, Wells Fargo, Citibank, Wachovia and Regions are busy expanding branches with plenty of small business bank products.

Choosing from national business banking networks As your small business grows, it can help to have access to more sophisticated financing. A large banking institution can be more impersonal but often have departments for medium-sized to large-business banking.

I recommend:  Some of the largest banks in the United States are Bank of America, J. P. Morgan Chase, Citibank, Wachovia, Wells Fargo, Suntrust and HSBC.

Bank online and use automated banking services Increasingly, if you manage your small business online or use software like QuickBooks, the most efficient means of keeping track of your company's finances is to bank online, using direct deposit and other online-only business banking products directly connected to your banking institution.

I recommend:  Once a competitive advantage, small business banks now routinely offer online banking services. Find out how your local bank ranks in the bank online business by checking its ranking with Gomez.

Watch out for banking institution fees Fees, particularly credit card fees and ATM charges, have spiraled in recent years as banks have competed to bring in customers but then used fees to 'punish' other customers out of their system. Review carefully what types of business banking services you actually use and then ask for a printed fee disclosure first.

I recommend:  Keep track of bank fees through Bankrate.com, which does regular 'roundup' coverage of the trend and offers this complaint form. CNNMoney, too, has a good fee-by-fee guide to fighting back against a banking institution.

Tips & Tactics

Helpful advice for making the most of this Guide
  • If you bank online, make sure you get fees removed. Banks often charge fees for mailing out statements, which they should stop charging if you go all online service.
  • Running a restaurant? A lawn service? Busy all hours, all week? Many local banks have begun offering later hours or Saturday service. Ask your banking institution about it.
  • Consider automatic bill pay. If you can keep the balance, you save the time it takes to keep up on utilities and fixed costs to suppliers.
  • Online banks often feature mobile phone banking and alerts. It keeps you out of the branch but informed nonetheless.


Directory Listings  |  Web Listings  |  Advertise With Us
Checkmark

How-To Guide from WORK.COM

Guide author
By Greg Brown
Not all business banking is created equal. Find the right banking institution for your small business.
Every banking institution has the same marketing message these days, either blue-gray corporate power, sunny, hometown simplicity or, ideally, both. But the reality is, some small business banks are good at servicing specific niches and types of ... Read more
Type
Your choice by type includes community, regional and national business banks.
  • A community bank exists primarily to support the needs of local businesses. These business banks make loans of under $1 million, accept retail deposits and generally engage in "relationship banking" with local business operators. Community banks serve small markets, emphasizing personal service over technology. Business banking fees are comparatively low.
  • Regional banks are mid-sized banks, often the result of community bank mergers, with more lending capacity, commercial banking products and services as well as technology features than smaller competitors. These business banks may specialize in specific market segments and local territories.
  • National banks are the major business banks offering the widest range of business banking products and services. They make large-scale commercial loans and are on the cutting edge of online banking. Many target small businesses with special account types and services, but make sure their fees are competitive with smaller banks.
Features
Choose among account features offered by business banks: free business checking, online banking, free transactions, merchant account services, payroll services, invoicing services and tax services.
  • Free business checking accounts for small businesses are common at most business banks, but restrictions such as minimum balances, auto deposits, limited number of deposits and checks and multiple account requirements may result in fees on supposedly free bank business checking.
  • Online banking is becoming the standard at business banks. Check for adequate security, service fees and the bank's ability to interact with accounting and tax software on your online banking account.
  • Look for business banks that offer free transactions but beware of restrictions, such as a limited number of transactions per month or fees that apply when limits are exceeded. Free transactions may only apply to ATM use.
  • If you accept credit card or online payments from customers, make sure your bank offers business merchant account services and integrates with online and point-of-sale providers. Check for set-up and processing fees.
  • Many business banks offer payroll services, including direct deposit as well as calculating federal, state, local and voluntary withholdings. Make sure the bank supports your pay types (salaried, hourly, overtime, tips, independent contractor, etc.). Payroll bank account fees are usually determined by number of employees and how many are paid via direct deposit.
  • Invoicing services may include a complete accounts receivable package — often via online banking — that enable businesses to send invoices, pay vendors, receive payments, email payment and past-due reminders, view reports and more. A flat fee may apply, or fees may be based on the number of monthly transactions.
  • Tax services from business banks usually include paying federal, state and local taxes online, making quarterly, payroll and sales taxes, pre-scheduled tax payments, and access to tax payment records. Check for pricing and fees, especially as they pertain to small business banking.

RESET ALL  |   MORE CHOICES FEWER CHOICES
Sponsored Links

B2B search marketing Free B2B search marketing whitepaper, 2008 B2B Search Marketing Strategy Guide: Advice From the Pros.
To advertise on Business.com, click here

Refine Your Search

Subscribe to

Try our free weekly WhatWorks
newsletter, with business how-to advice
& resources from Work.com.

click here to view a sample issue

Advertising Center | Advertiser Login | Business Finance | Featured Listings | Finance | News
© 2008 Business.com, Inc. All Rights Reserved. Privacy | Terms Of Use | Help | About Us | Jobs | Work.com