Home Topics Finance 7 best banks for small business in Florida

7 best banks for small business in Florida

How did we identify the best banks for business in Florida? We started with the foundation – business accounts. We looked for banks with free business accounts but also considered banks with low monthly fees that were easy to avoid.

We have also considered easy access through a branch or online, as well as the other business offerings of the banks such as business loans, credit cards and add-ons such as pay slips or merchant services. NerdWallet took into account national and regional banks, online banks, and credit unions.

Roundup of the Best Florida Small Business Banks

A regional bank with more than 400 branches in Florida.

Chase Business Complete Banking℠

Our favorite among the big banks for two reasons: unlimited electronic transactions and a nifty mobile app.

Suncoast Credit Union Business Smart Checking

Free business review with a community-oriented institution.

IBERIABANK Free Business Review

Free business review with a high transaction limit and a generous cash deposit.

Nearly 550 branches in Florida and more than 13,000 ATMs across the country.

We like online banks too

Truly free exam with no monthly fee, overdraft fees, or transaction fees.

BlueVine Business Checking

At BlueVine, the deposits are FDIC insured

Earn 1% interest on a free business checking account.


SunTrust Bank features an affordable business checking account that turns into a free checking account when you complete just five transactions per month – a breeze for most business owners. SunTrust merged with BB & T to form Truist Bank, but initially still offers business banking under its own name. The deal review options may change later.

Here are some of the highlights:

Business Review:

  • Three business review options: Basic Business Review, Primary Business Review, and Business Advantage Plus Exam.

  • Simple Business Checking is $ 5 per month, but there is no fee for the first 12 statement cycles. After that, only make five debit or credit transactions per month to avoid the fee.

  • The transaction limits are between 50 and 500 per month, depending on the account.

  • Up to $ 2,000 in free cash deposits for Simple Business Checking. Up to $ 10,000 for Business Advantage Plus Checking.

  • 400+ Florida branches and no SunTrust and BB&T ATM fees.

  • You can open a SunTrust checking account online.

Additional services:

  • Get up to 5% back with the SunTrust Business Rewards Credit Card.

  • Small business loans, including SBA loans, term loans, lines of credit, and equipment and vehicle finance.

  • Several business savings accounts are available, including money market accounts and certificates of deposit.

  • Point of sale systems available through Clover.


Chase has more than 400 stationary locations in Florida and nearly 5,000 nationwide.

Here are some of the highlights:

Business Review:

  • Chase offers three business checking accounts with monthly fees starting at $ 15 for Chase Business Complete Checking℠.

  • Business Complete Checking and Chase Performance Business Checking® include unlimited electronic deposits. Personal and paper transactions are capped at 20 per month for Business Complete and 250 per month for Performance Business reviews.

  • Business Complete Checking includes Chase QuickAccept® so you can accept payments directly from the Chase mobile app.

  • You can open an account online or in person.

  • 24/7 live customer service.

Additional services:

  • Chase Business Credit Cards, including Chase Ink Business Cash®, which give you up to 5% cashback.

  • Small business loans, including SBA loans, lines of credit, and equipment finance.

  • Payment services for e-commerce and retail businesses.

Suncoast Credit Union

Suncoast Credit Union serves 39 Florida counties. In order to use it to do banking, your business must be licensed in Florida and located in one of these counties.

Here are some of the highlights:

Business Review:

  • Two business checking options: Business Smart Checking and Business Classic Checking.

  • There are no monthly fees or minimum credits for Business Smart Checking.

  • A deposit of USD 50 is required for each account.

  • Get up to 200 free transactions with Business Smart and up to 300 with Business Classic. Debit card purchases, online bill payments, and other automated transactions do not count towards these limits.

  • More than 70 full-service branches.

  • No ATM fees at nearly 30,000 ATMs across the country, including Suncoast ATMs and ATMs on the Co-op ATM network.

Additional services:

  • Business loans include SBA loans and microloans.

  • Use the Suncoast Business Platinum Visa Card to earn points and give something back to the community.

  • Suncoast offers insurance for small business owners, including liability, property and employee compensation.


Iberiabank has 68 branches in the Sunshine State, most of them in central Florida. The bank recently partnered with First Horizon Bank, which will eventually expand its presence in Florida.

Here are some of the highlights:

Business Review:

  • Three main account options including a free business account with no minimum balance.

  • Business Interest Checking earns 0.1% on balances of $ 10,000 or more.

  • Transaction limits apply, but they are more generous than many banks. For example, the free verification by Iberiabank allows up to 500 fee-free transactions per month, more than double the number allowed by Suncoast Credit Union.

  • No charge for cash deposits up to $ 10,000 in all accounts.

  • Download checking account transactions for easy accounting in QuickBooks.

  • Apply for an account online, by phone, or in person.

Additional services:

  • Small business loans including SBA loans, home loans, and lines of credit.

  • Payroll services available through Paychex.

  • Business savings accounts, including money market and certificates of deposit.

Wells Fargo

Wells Fargo will check many boxes for business owners who value easy access. The bank has nearly 550 branches in Florida, more than 13,000 ATMs across the country, and online and mobile banking for on-the-go access.

Here are some of the highlights:

Business Review:

  • Three business accounts: initiate, navigate and optimize.

  • Initiate Business Checking costs $ 10 per month. If you have a daily account balance of $ 500, or an average account balance of $ 1,000, this will be waived.

  • Toll-free cash deposits are capped at $ 5,000 for Initiate Business Checking and $ 20,000 for Navigate Business Checking.

  • The transaction limits are between 100 and 250 per month, depending on the account. Wells Fargo will count all withdrawals, charges and deposits, including mobile deposits, towards your transaction limit. Purchases and payments from debit cards do not count towards the limit.

  • You can open an account online, in person, or over the phone.

Additional services:

  • Business savings accounts and CDs that earn 0.01%.

  • Wells Fargo offers SBA loans, equipment finance loans, and commercial real estate loans.

  • Entrepreneurs can offer retirement accounts (Profit Sharing, 401 (k) and IRA) through Wells Fargo.

  • Point of sale systems available through Clover.

  • Payroll services available through ADP.


NBKC doesn’t have a physical presence in Florida, but the bank’s free online checking account is a winner no matter where you live.

Here are some of the highlights:

Business Review:

  • Online business checking with no monthly fees, overdraft fees, or transaction fees.

  • Free unlimited cash deposits at participating MoneyPass ATMs.

  • Fees charged by other ATMs are automatically refunded (up to $ 12 per month).

  • The account can be opened and managed entirely online.

Additional services:

  • Additional billing software for $ 10 per month after a 60-day free trial.

  • Small business loans, including term loans, construction loans, inventory and equipment finance, and SBA loans.


BlueVine’s free online business checking account has no monthly fees or overdraft fees. The financial services company also offers small business loans, including lines of credit and invoice factoring.

Here are some of the highlights:

Business Review:

  • Free business checking account with no minimum deposit.

  • No overdraft fees or transaction limits.

  • Earn 1% interest on balances up to $ 100,000.

  • No ATM fees at MoneyPass ATMs.

  • The checking account is integrated in PayPal and Swipe and can be synchronized with QuickBooks or Wave.

Additional services:

  • Small business loans including invoice factoring and lines of credit. New lines of credit temporarily paused to prioritize Paycheck Protection Program loans.


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