9 Best Banks for Small Businesses in Kansas – Ranked for 2024

Bluevine shines as an online banking titan, acclaimed for its stellar financial services tailored for small businesses. They offer a suite of services that includes deposits, credit cards, and merchant solutions. Small businesses can benefit from loans that boast an easy-to-manage repayment setup.

Their business checking account allows for speedy transactions like bill payments or purchases. This account stands out with its competitive rates, zero monthly fees, and no minimum balance requirements. 

Why we picked it: Bluevine excels with its high-interest rates, minimal fees, and no-fuss maintenance, making it a top choice for LLCs and other business entities.

Fees

With Bluevine, wave goodbye to monthly fees, banking that doesn’t cost a penny is a reality here. However, watch out for charges at out-of-network ATMs. The mobile app becomes a handy ally, guiding you to free withdrawal locations. Each cash deposit costs $4.95, so consider using this service sparingly.

Interest Rates

Bluevine impresses with a whopping 2.0% APY, a rate that’s 50 times the national average, applicable on balances up to $100,000. You may get 4.25% APY. Once your balance tips over that amount, the surplus won’t earn any interest, something to keep in mind as your business grows.

Minimum Balance

No need to worry about maintaining a certain balance; Bluevine imposes no minimum. Start with a dollar or a thousand, either way. You’re set to capitalize on that high-interest rate from the get-go.

Access to Mobile Banking

Bank is on the move with the Bluevine mobile app. This well-crafted tool simplifies account management and tracking expenditures. Plus, it’s equipped for vendor payments via wire or check and allows for scheduling future payments, ensuring you meet your financial commitments effortlessly.

>> Check Out Bluevine >>

Capital One offers a diverse range of financial services and products tailored for small businesses. Thanks to their cutting-edge online and mobile banking, handling financial transactions from anywhere in Kansas becomes a breeze. They’re dedicated to brightening their customers’ days with rewards such as cashback, reward cards, and travel cards.

They offer flexible loans with competitive rates and a user-friendly repayment plan. Exceptional customer service is always on the agenda at Capital One. Plus, your financial transactions are secure with their robust credit monitoring and fraud alert systems.

Why we chose it: Capital One sets you free with unlimited digital transfers, letting you move funds seamlessly without constraints.

Fees

Capital One’s business accounts typically come with a $15 monthly fee, which might feel steep for smaller enterprises. But there’s a silver lining: you can dodge this fee by maintaining an average balance of $2,000 over 30 or 90 days. Plus, enjoy free access to any of Capital One’s 70,000 ATMs across the nation.

Interest Rates

Unlocking a business savings account with Capital One could earn you an interest rate of up to 0.20% in your first year, applicable on balances up to $5 million, offering substantial flexibility for small businesses. Remember, the bank’s checking accounts don’t yield any interest, so those free digital transfers really do add a bit of sweetness.

Minimum Balance

There’s no strict minimum balance required to keep your Capital One account open. However, stashing at least $2,000 in your checking account avoids the monthly service fee. Meanwhile, parking extra cash in your savings can generate some interest, making your money work for you even when it’s on the sidelines.

Access to Mobile Banking

Capital One’s physical branches are sparse, but their top-notch mobile app fills in any gaps. Manage all your banking needs, from transfers and digital payments to depositing checks, using your device’s camera. The app also links you to Capital One’s CreditWise service, offering credit score monitoring and handy financial tips.

>> Check Out Capital One >>

Lili rocks the digital banking scene with its awesome features tailor-made for freelancers and small businesses. Imagine a bank account without pesky fees and a slick Visa debit card thrown in, that’s what they offer. 

Being 100% digital, Lili caters perfectly to small business owners who dig mobile banking. Their app isn’t just for show; it lets users whip through financial transactions, keep tabs on spending, and manage funds all from their mobile devices.

Why we chose it: They practically gift-wrap your hard-earned dough by slashing minimal fees and offering nifty tax optimization tools. And hey, if you’re on the hunt for a top-notch business checking account that doesn’t fuss about credit checks, Lili stands out as a stellar choice.

Fees

Oh, Lili really turns up the charm with free tax software! Business owners can wave goodbye to annoying accounts and overdraft fees. Not a dime for foreign transactions or withdrawals at over 38,000 in-network ATMs across the States. If you find yourself at an out-of-network ATM, though, brace for a hit of $2.50 to $5.

Interest Rates

Lili’s Business Checking doesn’t grow your money with interest. However, those ready to pay can get into a savings account sporting a 1.5% APY. Remember, you’ll need a hefty $34,000 parked in your account constantly to dodge the monthly fees.

Minimum Balance

With Lili Bank, there’s no need to stress about maintaining a minimum balance in your checking account. This is perfect whether you’re just kicking off your business venture or if your income tends to ebb and flow.

Access to Mobile Banking

Lili Bank delivers a mobile banking app that’s a cut above, crafted with freelancers and small business honchos in mind. This tool isn’t just about viewing your balance; it’s about taking charge of your finances. Track expenses, stash away funds for taxes, and handle payments, all on your phone. You’ll also get the perks of instant payment alerts, budgeting tools, and snapping pics to deposit checks.

>> Check Out Lili >>

U.S. Bank rolls out a variety of enticing services for small businesses. They feature two distinctive accounts: the Safe Debit Account and the Smartly Checking Account. The Smartly option waives monthly fees, while the Safe Debit Account helps you sidestep overdraft woes. 

Their business checking accounts include the Silver, Gold, and Platinum Checking Packages, each designed to cater to different business needs.

U.S. Bank offers a selection of business credit cards tailored for the demands of your enterprise. Choices range from the Elite Mastercard to Signature and Platinum Cards, providing a spectrum of benefits and features.

Why we chose it: For small businesses in need of a boost, U.S. Bank offers an extensive array of lending options, making it easier to find the financial support that suits your business’s scale and scope.

Fees

Enjoy zero monthly fees with U.S. Bank’s Silver Checking Package, tailored for small businesses. As your business expands, higher-tier accounts may come with monthly fees, but these can be waived. Keep an eye on your monthly transactions to avoid extra charges if you exceed the set limits.

Interest Rates

While U.S. Bank’s checking accounts don’t offer interest, their savings options do, albeit at a modest maximum rate of 0.01%. It’s a small amount, but with no balance cap, there’s potential to earn more as you save more.

Minimum Balance

Starting out with a U.S. Bank’s Silver Account? There’s no minimum balance required, making it an attractive option for emerging small businesses. Higher-tier checking accounts might come with waivable fees if you maintain the necessary balances. To dodge service fees in savings accounts, a minimum balance of $500 is needed.

Access to Mobile Banking

Away from a branch? No problem. U.S. Bank’s robust mobile app lets you handle all your banking needs remotely. Transfer funds effortlessly, keep tabs on your finances, and receive tailored alerts to stay informed, all from your smartphone.

>> Check Out U.S. Bank >>

Oxygen Bank stands out as a top pick for small business owners in Kansas, thanks to its slick digital banking setup. They come through with robust budgeting tools that let you manage budgets like a pro. Expect features like real-time alerts, tracking capabilities, and customizable spending limits. Plus, their mobile checking account keeps it simple, no minimum balance, no fees.

The mobile banking experience with Oxygen lets you effortlessly manage your accounts, deposit checks, and shuffle funds around with just a few taps.

Why we chose it: Oxygen speaks directly to the modern, savvy business owner by dishing out some nifty banking tools. Plus, it’s a primo choice for sole proprietors looking for a checking account that gets them.

Fees

Oxygen promotes itself as a bank that’s largely fee-free and won’t nickel and dime you. However, remember that using out-of-network or international ATMs could cost you a bit. On the bright side, you won’t see fees for ACH transfers or just for keeping your account open.

Interest Rates

Don’t expect your business checking account with Oxygen to generate interest. But here’s a sweet deal: they offer a business savings account. Pop your cash there and watch it grow with a 1.0% interest rate on balances up to $20,000. Got more? It’ll still earn interest, just at a lower rate.

Minimum Balance

Chill out with Oxygen Bank’s zero minimum balance policy for checking and savings accounts. Forget about monthly fees, even if your account’s balance dips to zero. No stress, no fuss.

Mobile Banking Features

Oxygen’s mobile banking app is a game changer for small business owners who are constantly moving. Deposit checks, handle bill payments, and pull up your account statements from your phone. Plus, the app dishes out spending insights, giving you a clear view of where your money’s going.

>> Check Out Oxygen >>

Axos Bank, a standout online banking option, delivers top-tier financial services and products designed specifically for small businesses. They offer a comprehensive range including savings and checking accounts, merchant services, loans, and dedicated small business banking solutions.

Axos presents various checking accounts such as Rewards, Essential, and Golden Checking, all featuring no monthly maintenance fees, no minimum balance requirements, and unlimited digital transfers. 

Specialized small business banking solutions from Axos include flexible loans and robust merchant services. Customers can enjoy a range of rewards, competitive interest rates, and referral bonuses that add extra value.

Why we chose it: Axos Bank shines with its Basic Business Checking due to free cash deposits and a low fee structure, making it an excellent choice for business owners looking for efficiency and cost-effectiveness.

Fees

Axos Bank’s Basic Business Checking is a dream for those who detest fees. It carries no monthly maintenance charges and doesn’t require a specific balance to keep your account open. Any ATM fees you incur are reimbursed each month, essentially making this account free to use. However, keep in mind that Axos charges $35 for each wire transfer, which could add up if you frequently send wires.

Interest Rates

The Basic Business Checking account doesn’t offer an annual percentage yield, focusing instead on business-oriented perks. For those looking to earn interest, Axos provides interest-bearing business savings accounts as an alternative where your surplus funds can grow.

Minimum Balance

Axos Bank eliminates the stress of minimum balance requirements for both its checking and savings accounts. This feature is particularly beneficial for small business owners who might not have significant funds to maintain in their account continuously, making Axos an inviting choice.

Access to Mobile Banking

Axos Bank’s mobile app is designed to streamline your banking experience. Manage your accounts, deposit checks, transfer funds, pay bills, and even handle wire transfers, all from your mobile device. The app also includes helpful budgeting tools and account alerts to keep you informed and in control of your finances on the go.

>> Check Out Axos >>

Bank of America is a prime choice for small business owners in Kansas. They offer a suite of banking services and products finely tuned to meet the needs of small enterprises. 

The bank provides various checking accounts that are easy on your budget with no fees and minimal monthly charges. Their merchant services cater to diverse payment methods, including credit cards, debit cards, and mobile payments.

Bank of America also delivers exciting features tailored for small businesses, such as mobile banking, bill pay, and sophisticated cash management services.

Why we chose it: Bank of America’s rewards program is loaded with perks, ensuring that both the bank and its clients benefit, creating a mutually rewarding banking experience.

Fees

Bank of America’s initial checking account offering incurs a $16 monthly fee. You can offset this by maintaining a $5,000 monthly balance, spending a minimum of $250 with your debit card, or joining the Preferred Rewards program. Keep an eye out for additional fees linked to out-of-network ATM withdrawals and high-volume deposits within a single month.

Interest Rates

For small businesses starting a savings account, the interest rate begins at a modest 0.01%. Active participation in Bank of America’s rewards system could bump this rate up to 0.04%. It’s important to note that Bank of America’s checking accounts don’t offer interest accumulation.

Minimum Balance

To waive the $16 monthly service fee, maintain an average monthly balance of $5,000 in your checking account. For savings accounts, a minimum balance of $2,500 is needed to avoid the $10 monthly fee.

Access to Mobile Banking

Bank of America’s mobile app is highly acclaimed for its functionality. It allows you to manage your accounts, pay bills, and transfer funds seamlessly from wherever you are. The app includes a budgeting tool that helps monitor your expenses and manage your spending effectively.

>> Check Out Bank of America >>

Chase for Business rolls out the red carpet for business owners with services, including payment collection and top-notch fraud protection. They’re tossing in a $300 bonus just for signing up to sweeten the deal. 

Plus, you can snag credit card payments directly into your account with the Chase Business app. Although there’s a monthly service fee, Chase Business offers several hacks to dodge it.

Why we chose it: It’s more than just a bank; it’s a business partner, packing a lengthy roster of extra services to meet and exceed your banking needs.

Fees

The monthly service fee might make you think twice, especially with all the fee-free options. But Chase Business makes it easy to sidestep this. Just maintain a $2,000 minimum daily balance, rack up $2,000 in net purchases with a business card, or snag $2,000 in deposits via the Chase Business QuickAccept app, and that fee disappears.

>> Check Out Chase for Business >>

Chase Bank delivers many financial products and services, ranging from investments and loans to lines of credit. They cater to diverse needs with checking accounts like Total Checking, Premier Plus Checking, and Sapphire Checking. 

Thanks to their robust mobile banking, you can manage transfers and deposits. And let’s not forget the perks: sign-up bonuses and rewards like cash-back travel rewards. Chase takes customer security to the next level with advanced tech and strict protocols safeguarding your data and transactions.

Why we chose it: It goes beyond traditional banking by incorporating a comprehensive array of merchant services designed to propel your business forward.

Fees

Chase Business Complete Banking sets the bar with a starting monthly fee of $15. But here’s the kicker, you can dodge this fee altogether. Just keep a $2,000 daily balance, make your deposits through Chase QuickAccept, or use your Chase Ink Business Card for purchases. Heads up, though, after your first 20 transactions, fees kick in, and you’ll want to steer clear of pricey wire transfers if you can.

Interest Rates

Like many banks, Chase doesn’t offer interest on business checking accounts. If you’re looking to earn money, consider opening a business savings account, which can yield up to 0.02%.

Minimum Balance

To sidestep the monthly service fee at Chase, consistently maintain at least $2,000 in your checking account. Drop below this, even once a month, and you’ll face the fee. There’s no fee for savings accounts as long as you keep an active checking account with Chase.

Access to Mobile Banking

Chase’s mobile app does more than basic banking. Have you misplaced your credit card? You can lock or unlock it directly from the app. Planning a big purchase? Use the budget planning feature to set funds aside. Plus, keep your credit health in check with their credit monitoring tools.

>> Check Out Chase >>