Home Topics Finance 6 Best Small Business Banks in California

6 Best Small Business Banks in California

More than 400 banks and credit unions operate in California. That’s enough to turn heads for small business owners as they try to find a bank that suits their needs.

We took some of the work off your plate by evaluating dozens of financial institutions to find the best California small business banks.

Here’s how we determined which banks are the best:

First, we rated banks on their business accounts. We looked for financial institutions with free checking accounts, but we also considered those with low monthly fees that were easy to avoid.

Then we took into account easy access via branches or online options as well as the other business offers of the banks such as business loans, credit cards and add-ons such as pay slips or dealer services. NerdWallet’s competitors included national and regional banks, online banks, and credit unions.

Best Stationary Banks for Small Business in California

Business review with an overdraft buffer so you don’t get into the red.

Chase Business Complete Banking℠

Unlimited electronic transactions and payment processing integrated into the mobile app.

Union Bank® Bank Freely ™ Business Checking

Free business review with no transaction limits and generous cash deposit.

Easy branch access with more than 900 stationary locations in California.

Best Online Business Accounts in California

Business checking with no monthly fee, overdraft fees, or transaction fees.

BlueVine Business Checking

At BlueVine, the deposits are FDIC insured

Free business review that earns 1% interest on balances up to $ 100,000.

Bank of the West

The Bank of the West basic checking account – Any Deposit Checking for Business – is charged a monthly service fee of USD 10, which is waived for the first two months. After that, just make one deposit per month to avoid the fee. Bank of the West has more than 200 stationary locations in California.

Here are some of the highlights:

Business Review:

  • An opening deposit of at least $ 100 is required for each corporate deposit check.

  • Deposit up to $ 2,500 in cash at no additional charge.

  • Up to 50 fee-free transactions per month. All withdrawals, transfers, debit card transactions, paid checks, and deposited items count towards this limit. Additional transactions cost 50 cents per item.

  • The account contains a $ 5 overdraft buffer. An overdraft fee of $ 35 will be charged if you exceed this amount.

  • Two additional checking accounts are offered: Classic Business Checking (USD 25 monthly fee) and Choice Business Checking (USD 40 monthly fee). Both offer higher transaction and cash deposits and, under certain conditions, the monthly fees can also be waived.

Additional services:

  • Two business credit cards with no annual fee.

  • Business savings and money market accounts.

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

  • Point of sale services through Poynt starting at $ 10 per month.

chase

Would you like to have branch access? Chase has 967 offices in California. The National Bank also offers live customer service for business customers around the clock.

Here are some of the highlights:

Business Review:

  • Three business checking accounts: Chase Business Complete Banking®, Chase Performance Business Checking® and Chase Platinum Business Checking®.

  • Chase Business Complete is $ 15 per month, but there are several ways you can bypass the fee.

  • Unlimited electronic deposits in Business Complete Banking and Performance Business Checking. Personal and paper transactions are limited to 20 per month (Business Complete) and 250 per month (Performance Business).

  • Chase Business Complete includes mobile in-app payment processing via Chase QuickAccept®.

  • Apply online or in person.

  • 24/7 live customer service.

Additional services:

  • Chase Suite from Business rewards credit cards.

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

  • Payment services for e-commerce and retail businesses.

Union Bank

Union Bank’s free checking account includes unlimited, fee-free transactions in person and online, a rare feature for any business checking account, let alone a free one. While Union Bank offers free online and mobile banking, it also has nearly 300 branches in California.

Here are some of the highlights:

Business Review:

  • There are no monthly service fees, opening credits or minimum credits for Bank Freely ™ Business Checking. Simply hold a balance – any balance – to run your account.

  • Unlimited no fee transactions.

  • Up to $ 10,000 in cash per statement. Excess deposits are $ 2.50 per $ 1,000.

  • No ATM fees at Union Bank and ATMs outside the network. Surcharges found by other ATM owners will be refunded up to two per statement.

  • No fee for incoming transfers.

  • Reviewing Transactions can be downloaded in Quicken and QuickBooks.

Additional services:

  • Business rewards credit cards that earn 5x points for regular business expenses such as office supplies and utility bills (up to $ 25,000 per year).

  • Small business loans including term loans, commercial real estate loans, and SBA loans.

  • Designated Business Lending Program for minority, woman and veteran owned companies.

Wells Fargo

Wells Fargo is widespread in California with more than 900 stationary locations.

Here are some of the highlights:

Business Review:

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

  • Up to $ 5,000 monthly in fee-free cash deposits.

  • Fee-free transactions are capped at 100 per month. 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.

  • Two additional business accounts are available for a higher monthly fee. Both have more generous transaction and cash deposit limits.

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

Additional services:

  • Small business loans including SBA loans, equipment finance loans, and commercial real estate loans.

  • Retirement accounts, including profit sharing, 401 (k) and IRA plans available.

  • Third party point of sale systems and payroll services.

NBKC

NBKC’s online business checking account is a rare find that offers virtually no fees, unlimited transactions, and free cash deposits (a rare feature for online bank accounts).

Here are some of the highlights:

Business Review:

  • Free online business review with no monthly fees, overdraft fees, or transaction fees.

  • Free unlimited cash deposits at participating MoneyPass ATMs.

  • NBKC will automatically reimburse up to $ 12 per month in off-network ATM fees.

  • The account can be opened and managed entirely online.

Additional services:

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

BlueVine

BlueVine’s free business checking account earns 1% on balances up to USD 100,000. Many other banks require you to have a balance of at least $ 10,000 to earn interest, often at a lower rate than those offered by BlueVine.

Here are some of the highlights:

Business Review:

  • No monthly fee, minimum deposit, or overdraft fee.

  • Unlimited no fee transactions.

  • 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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