8 Best Banks for Small Businesses in Colorado in 2025

Bluevine Banking solution shines as a top choice for small businesses in Colorado. It was crafted specifically to support budding enterprises, both small and medium-sized, in their growth.

Bluevine offers clients the opportunity to earn interest on their balances. If you’re running a small business, you can get started with their online banking in just five minutes and manage a variety of transactions.

Every account holder receives a Bluevine Business Debit Mastercard and finds their mobile app extremely user-friendly. Should any issues arise with your card, locking it through the app is a breeze.

Why we picked it: Bluevine stands out with competitive interest rates, low fees, and no maintenance demands, making it the premier banking choice for LLCs and various other business entities.

Fees  

At Bluevine, you won’t encounter monthly fees, so you can manage your finances without shelling out extra cash. However, using ATMs outside your network will incur charges, making the mobile app handy for locating ATMs where you can withdraw cash for free. Be mindful that each cash deposit costs $4.95, so it’s wise to deposit cash judiciously.

Interest Rates  

Bluevine offers a standout 2.0% APY, a rate that’s fiftyfold the national average, applicable on balances up to $100,000. Should your business’s balance exceed this threshold, the surplus won’t earn any interest.

Minimum Balance  

There’s no minimum balance requirement at Bluevine, allowing small businesses to start from scratch and immediately benefit from the high interest rates.

Access to Mobile Banking  

The Bluevine mobile app ensures effortless banking from anywhere. This well-crafted tool helps you keep tabs on your finances, make wire or check payments to vendors, and schedule future payments, all from your mobile device.

>> Get Started With Bluevine >>

Lili Bank is a digital financial institution perfectly suited for small businesses, especially freelancers. They offer flexible accounts that can be opened at a low cost. These accounts are equipped with features that simplify income management for small e-commerce ventures.

It’s important to note that a Lili account is only available to small businesses in Colorado that operate with their EIN. This is tailored specifically for businesses registered in their owner’s name. Most Lili accounts are free of fees, except for deposited checks and international ATM use.

Why it is recommended: Lili is a top pick for entrepreneurs and single-member LLCs. It’s ideal for businesses seeking straightforward online banking solutions and for individuals in search of a top-tier online business checking account without hidden fees. For these reasons, Lili is highly recommended.

Fees  

Lili shines with its complimentary tax software, and business owners will appreciate the absence of account and overdraft fees. You won’t face charges for foreign transactions or using any of the over 38,000 in-network ATMs across the United States. However, if you find yourself at an out-of-network machine, anticipate a fee ranging from $2.50 to $5.

Interest Rates  

Lili’s Business Checking account does not accrue interest. For those willing to pay, a savings account with a 1.5% APY is available, but maintaining at least $34,000 in your account is necessary to offset the monthly fees.

Minimum Balance  

Lili Bank imposes no minimum balance requirement for its checking account. This is particularly beneficial for those just starting out or dealing with variable income levels.

Access to Mobile Banking  

Lili Bank’s mobile app is tailor-made for freelancers and small business owners. It offers comprehensive financial management including expense tracking, tax savings preparation, and payment handling, all from your mobile device. Additionally, the app features instant payment alerts, budgeting tools, and the capability for mobile check deposits.

>> Get Started With Lili Bank >>

Capital One Bank stands out as one of the leading financial institutions in Colorado, offering a diverse range of services tailored for small businesses. They are celebrated for their innovation, creativity, and rewarding approach. When you sign up with Capital One, you can confidently say goodbye to your financial worries.

Customers enjoy access to branches, credit cards, auto loans, and enticing financial products. Capital One ensures transparent operations with full-service Internet banking and no hidden fees. For entrepreneurs seeking a dependable online banking solution for their business, Capital One is a solid choice.

Why we chose it: Capital One allows unlimited digital transfers, providing you the freedom to keep your funds fluid and responsive.

Fees  

Capital One’s business accounts carry a $15 monthly fee, which might seem steep for a small business. However, this fee can be waived by maintaining an average balance of $2,000 over a 30 or 90-day period. Additionally, you’ll enjoy free access to Capital One’s 70,000 ATMs nationwide.

Interest Rates  

Opening a business savings account with Capital One unlocks interest rates up to 0.20% for the first year, applicable to balances up to $5 million. This offers substantial flexibility for small businesses. It’s important to note that the bank’s checking accounts do not accrue interest, which makes the perk of free digital transfers even more appealing.

Minimum Balance  

There’s no requirement to maintain a minimum balance to keep your account active at Capital One. However, holding at least $2,000 in your checking account is advisable to avoid the monthly service fee. Stashing extra funds in your savings can also generate interest on idle money.

Access to Mobile Banking  

Capital One’s extensive mobile app compensates for the scarcity of physical branches. Through the app, you can execute all your transfers, make digital payments, and deposit checks using your device’s camera. The app also provides access to the Capital One CreditWise service, which allows you to monitor your credit score and offers useful financial tips.

>> Get Started With Capital One >>

U.S. Bank, also known as U.S. Bancorp, is renowned for its comprehensive financial services in Colorado, offering loans, cash management, and ATM processing. Opening checking accounts like the Safe Debit Account and Smartly Checking Account is straightforward.

Choosing the right account depends on your financial needs. If your goal is to avoid monthly service fees, the Smartly checking account is the way to go. Conversely, if you’re looking to dodge overdraft fees, the Safe Debit account comes highly recommended.

Why we chose it: For small businesses seeking additional capital, U.S. Bank stands out with its wide array of lending options.

Fees  

With U.S. Bank’s silver checking package for small businesses, monthly fees are a non-issue. As your company expands, higher-tier accounts do present waivable monthly fees. Keep an eye on your monthly transactions to avoid extra charges for exceeding set limits.

Interest Rates  

U.S. Bank’s checking accounts don’t offer interest-generating options. While their savings plans come with various perks, the highest interest rate available is a modest 0.01%. Though minimal, there’s no cap on the balance that can earn this rate.

Minimum Balance  

Starting with U.S. Bank’s silver account package specifically designed for small businesses, there’s no minimum balance required. Other checking accounts offer waivable fees if you maintain the necessary balance amounts. Savings accounts begin with a $500 minimum to avoid service fees.

Access to Mobile Banking  

If you’re away from a U.S. Bank branch, the mobile app makes banking straightforward. You can effortlessly transfer funds between accounts and keep track of your finances. U.S. Bank enhances your banking experience with customized alerts, helping you stay informed on the go.

>> Get Started With U.S. Bank >>

Bank of America stands as a top choice for those engaged in small businesses in Colorado. They offer a variety of checking and savings accounts that are easy to maintain. With over 3,500 branches nationwide and digital products that rival few others, their resources are extensive. The online app facilitates bill payments, easy transfers, and other savings features.

BOA accounts feature an AI assistant named Erica, which delivers tailored financial advice based on your specific needs. For small businesses in Colorado requiring POS terminals or other financial tools, Bank of America is a solid banking option.

Why we chose it: Bank of America’s banking rewards come with numerous perks, creating a beneficial experience for all parties involved.

Fees  

Bank of America’s introductory checking account carries a $16 monthly fee. You can avoid this fee by maintaining a $5,000 monthly balance, spending at least $250 with your debit card, or becoming a Preferred Rewards member. The only additional fees to consider are those for out-of-network ATM withdrawals and excessive deposit charges in any given month.

Interest Rates  

Most small businesses that open a savings account with Bank of America will start with an interest rate of 0.01%. This rate can increase to 0.04% with sufficient activity in the bank’s rewards system. It’s important to note that Bank of America’s checking accounts do not offer any interest.

Minimum Balance  

Maintaining an average monthly balance of $5,000 in your checking account eliminates the $16 service fee. For savings accounts, keeping at least $2,500 will avoid a $10 monthly fee.

Access to Mobile Banking  

Bank of America’s mobile app is highly acclaimed for its functionality. It allows you to manage accounts, pay bills, and transfer funds seamlessly from anywhere. Additionally, the app includes a budgeting tool to help you monitor expenses and manage spending effectively.

>> Get Started With Bank of America >>

Axos Bank, established in 2000, specifically serves the needs of small and medium-sized businesses in Colorado. Known for its innovative and technology-driven approach, Axos manages to cater to millions of customers. The bank offers a wide array of online account options for both businesses and individuals.

Customers can choose from various checking accounts, each designed with unique benefits. Additionally, Axos provides investment services, straightforward loan options, POS terminals, and attractive money market accounts. With such a comprehensive range of financial services, Axos is a solid choice for meeting all small business banking needs.

Why we chose it: Axos Basic Business Checking stands out due to its free cash deposits and low fee structure, making it one of the best business bank accounts available.

Fees

Axos Bank’s Basic Business Checking account comes without a monthly maintenance fee, and there are no specific requirements to keep your account open. This account also reimburses any ATM fees incurred, effectively making it free to use. However, if you frequently conduct wire transfers, keep in mind that Axos charges $35 per transfer.

Interest Rates

While the Basic Business Checking account does not offer an annual percentage yield, it focuses on providing business-centric perks. If you have surplus funds, you might consider opening one of Axos’s interest-bearing business savings accounts to accrue interest.

Minimum Balance

Axos Bank does not impose minimum balance requirements for its checking and savings accounts. As a small business owner, this means you’re not obligated to maintain a specific balance to dodge monthly fees, making Axos an appealing choice if your account balances vary.

Access to Mobile Banking

Axos Bank’s mobile app is comprehensive, enabling you to manage your accounts, deposit checks, transfer funds, pay bills, and even conduct wire transfers all from your mobile device. Additionally, the app features account alerts and budgeting tools, helping you maintain tight control over your financial health.

>> Get Started With Axos Bank >>

Oxygen is a legitimate financial entity that offers a variety of banking services to individuals and small businesses in Colorado. While not a traditional bank, all transactions and funds handled by Oxygen are FDIC-insured, ensuring security and peace of mind for its users. The accounts available through Oxygen are free from the hefty fees typically associated with conventional banks.

When you make online purchases through Oxygen, you’re rewarded with cashback incentives. Additionally, they offer virtual cards for those who prefer not to use their actual debit cards for online transactions. Oxygen is particularly popular among SMEs, startups, and those seeking a hassle-free online banking experience.

Why we chose it: Oxygen resonates with the modern business owner, providing innovative banking features that appeal to a contemporary audience. It’s also rated as one of the top checking accounts for sole proprietors thanks to its user-friendly approach and valuable perks.

Fees  

Oxygen prides itself on being a fee-free service across the board, although it does note that charges may apply for out-of-network and international withdrawals. You’ll enjoy free ACH transfers and won’t have any fees just for keeping your account open.

Interest Rates  

While your business checking account with Oxygen won’t generate interest, the company addresses this by offering a business savings account. Funds up to $20,000 in the savings account earn an interest rate of 1.0%. Higher balances still accrue interest, albeit at a reduced rate.

Minimum Balance  

Oxygen Bank imposes no minimum balance requirements for either its checking or savings accounts. This means no monthly fees, even if your account balance drops to zero. You won’t face any penalties for not reaching a specific balance threshold.

Mobile Banking Features  

Oxygen Bank’s mobile app is tailored for small business owners who need to manage their finances on the move. The app allows you to deposit checks, pay bills, and generate account statements. Additionally, it provides spending insights to help you monitor and track your financial activity effectively.

>> Get Started With Oxygen >>

Chase stands as one of the largest financial institutions in Colorado, renowned for its excellent services tailored for small businesses. They provide a comprehensive suite of services, including investments, foreign exchange, various digital products, and flexible loans. You’ll also find their credit card offerings and account options appealing.

Chase offers more checking and savings choices than many other banks in the state, making it easy to find an account that suits your needs. Opening an account with them is straightforward, with minimal requirements involved. While their interest rates are on the lower side, they compensate with outstanding mobile apps and robust security measures.

Why we chose it: Chase enhances traditional banking with an extensive list of merchant services, all designed to foster the success of your business.

Fees  

Chase Business Complete Banking starts with a monthly fee of $15. You can waive this fee by maintaining a daily balance of $2,000, making deposits via Chase QuickAccept, or using your Chase Ink Business Card for purchases. Be mindful that there’s a fee for transactions after the first 20 each month, and wire transfers can be expensive.

Interest Rates  

Chase does not offer interest on business checking accounts. To earn interest, you would need to open a business savings account, which can accrue up to 0.02%.

Minimum Balance  

To avoid the monthly service fee, it’s crucial to keep at least $2,000 in your checking account consistently. Falling below this amount even once a month can trigger the fee. Fortunately, savings accounts are free of charge as long as you maintain an active checking account with Chase.

Access to Mobile Banking  

The Chase mobile app goes beyond basic banking functionalities. It allows you to lock or unlock your credit card if it’s misplaced, which adds a layer of security. Additionally, the app features a budget planning tool to allocate funds for significant purchases and credit monitoring tools to safeguard your credit health.

>> Get Started With Chase >>