Best Business Banks in Texas

Bluevine is a financial technology company that offers an accessible business checking account backed by Coastal Community Bank and insured by the FDIC.

This online-only bank provides businesses with various benefits, including no monthly fees, no minimum deposit requirements, and unlimited fee-free transactions.

One of the standout features of Bluevine is the 2.00% interest rate on account balances up to $250,000, making it an attractive option for businesses looking to earn more on their deposits.

Additionally, Bluevine offers access to up to $3 million in FDIC insurance through the Insured Cash Sweep program, providing peace of mind for businesses with more significant account balances.

Why We Chose It: Bluevine offers an accessible business checking account with no minimum deposit, overdraft fees, or transaction limits. Additionally, account holders can earn 2.00% interest on balances up to $250,000.

Fees

Bluevine Business Checking offers no monthly fees or minimum opening deposit. However, cash deposits are limited to $500 per deposit, $2,000 per day, with a service fee of up to $4.95.
Interest Rates

Account holders can earn 2.00% interest on account balances up to $100,000. Terms and conditions apply.

Minimum Balance

Bluevine Business Checking does not require a minimum balance to maintain the account.

Access to Mobile Banking

Bluevine offers a mobile app for convenient banking on the go. The app allows users to manage their accounts, make transactions, schedule payments on the go, and access customer support.

Like Bluevine, Lili Bank is an online-only banking platform that offers a no-fee business banking checking account. With Lili Bank, business owners can enjoy fee-free transactions, no minimum balance requirements, and a suite of digital tools to manage their finances.

Why We Chose It: Lili Bank stands out for its no-fee business checking account, making it an attractive option for small businesses looking to minimize costs.

The account offers unlimited fee-free transactions, including ATM withdrawals, and provides valuable features like expense tracking and tax tools.

Fees

Lili Bank’s business checking account has no monthly fees or minimum balance requirements. It also offers fee-free transactions, including ATM withdrawals.

Interest Rates

Lili Bank does not offer interest on its business checking account. It, however, charges $2.50 for out-of-network ATMs, $5 for international ATMs, and $5 for card replacement.

Standard ACH transfers are free, but there’s a fee of 1.5% of the transaction total, with a maximum limit of $20 on express transfers.

Minimum Balance

Lili Bank does not require a minimum balance to maintain the account, so your business doesn’t have to worry about being low on funds.

Access to Mobile Banking

As an online-only platform, Lili Bank provides a robust mobile banking app for managing your business finances. The app offers features such as mobile check deposit, expense categorization, and real-time transaction tracking.

For businesses looking for a no-fee banking solution, NBKC Bank offers a Business Account that stands out among its competitors. It has a transparent fee structure, unlimited cash deposit capabilities, and a commitment to providing exceptional customer service.

The bank offers unlimited cash deposits through MoneyPass ATMs, making it convenient for businesses that handle a significant amount of cash transactions.

Additionally, NKBC bank requires no monthly fees, no transaction limits, and no minimum deposit requirements, providing businesses with the flexibility and affordability they need.

Why We Chose It: We chose NBKC Bank for its unlimited cash deposits and convenience, allowing businesses to process transactions without incurring unnecessary fees.

Fees

The NBKC Business Account has no monthly fees or transaction limits. NBKC differs from other business bank accounts because it has a unique pricing plan.

Instead of having multiple options, it gives you just one type of business checking account and one type of business savings account. But you can personalize your account by choosing extra services.

Interest Rates

A Business Checking account won’t provide any APY, but opening a Business Money Market account can earn you a 0.05% APY on your savings.

Just keep a balance of at least $0.01 to qualify for interest, which is a minimal amount.

Minimum Balance

You do not need a certain amount to open or maintain an account with NBKC.

Access to Mobile Banking

NBKC offers a mobile app for iOS, allowing users to access their accounts, make transactions, and accept contactless payments.

Chase Bank is a well-known national bank with a significant presence in Texas, making it an excellent choice for businesses that value branch access.

With nearly 500 branch locations, Chase offers convenience and accessibility for businesses throughout Texas.

The Chase Business Complete Banking account provides a range of features, including unlimited fee-free electronic transactions, integrated credit card processing, and a welcome bonus for new customers.

Why We Chose It: We chose Chase Business Complete Banking because of its wide range of banking services. With its comprehensive suite of financial products and services, Chase Bank can meet the needs of businesses of all sizes.

Fees

The Chase Business Account has a monthly fee of $15, which you can avoid by meeting certain conditions.

These include maintaining a minimum daily balance of $2,000, making $2,000 in purchases on a Chase Ink Business Card, having $2,000 in deposits from Chase QuickAccept or other eligible Chase Merchant Services transactions, or maintaining a linked Chase Private Client Checking account.

Additionally, there’s a $34 overdraft fee per item, with a maximum of six overdraft fees per day.

Interest Rates

While a Chase business account doesn’t earn interest, you can link it to a Chase savings account, which may generate interest.

Minimum Balance

Chase doesn’t have a mandatory minimum balance, but to skip the monthly maintenance fee, ensure your account holds a minimum daily balance of $2,000 at the beginning of each day in the statement period.

Access to Mobile Banking

Chase offers a highly-rated mobile app that allows users to manage their accounts, make transactions, and access customer support.

For businesses that handle a significant amount of cash, Bank of America offers the Business Advantage Fundamentals Banking account, which stands out for its high cash deposit allowances.

With up to $7,500 in monthly fee-free cash deposits, Bank of America provides an attractive solution for businesses in industries such as restaurants and bars.

Additionally, Bank of America offers a full suite of business services, including business loans, credit cards, and access to a team of business specialists.

Why We Chose It: Bank of America Business is an excellent choice for businesses that rely on cash transactions and prefer the convenience of a large, national bank with a robust suite of business services.

Fees

The Basic Checking account incurs a $16 service fee, but it can be fee-free by meeting specific criteria.

These include maintaining a $5,000 monthly balance, spending $250 on debit card purchases, or joining the Preferred Rewards program to use your account without charges. The savings account follows similar rules, with a $10 monthly fee if requirements aren’t met.

Interest Rates

Bank of America’s interest rate varies based on rewards status. Savings accounts start at 0.01% APY, reaching 0.04% at the platinum tier. While achieving this tier may take time for businesses, the potential for higher interest exists.

Minimum Balance

If you’re not a Preferred Rewards member, a $5,000 checking account balance is necessary to avoid the monthly maintenance fee.

Access to Mobile Banking

Bank of America’s mobile app offers easy access to all accounts. Deposit checks, transfer money, pay bills, and manage your budget directly from your phone, enhancing convenience for your financial activities.

Axos Bank stands out for its commitment to providing exceptional customer support, with 24/7 live customer service available to assist businesses anytime.

Axos Bank’s Basic Business Checking account offers unlimited fee-free transactions, automatic refunds of all ATM fees (domestic), and cash deposits via MoneyPass and AllPoint ATMs. Additionally, new customers can qualify for a welcome bonus (terms apply).

Why We Chose It: Axos Bank’s dedication to providing round-the-clock customer support, along with its no-fee banking solutions, makes it an attractive option for businesses that value accessibility and convenience.

Fees

Axos Bank requires a minimum deposit of $50 to open a Rewards Checking account, offering an easily achievable entry point for most customers.

However, there are no maintenance fees, no non-sufficient fund fees, and unlimited domestic ATM fee reimbursements.

To qualify for the $200 welcome bonus, you must make a $50 deposit within the initial 30 days of account opening and ensure qualifying direct deposits total at least $5,000 each calendar month for the first seven months of your account.

Interest Rates

Axos Bank offers different types of checking accounts with varying interest rates. The Basic Business Checking account offers 0% APY, while the Interest Business Checking account offers 1.01% APY on balances up to $49,999.99.

However, opening an Interest Business Checking account requires a $100 initial deposit.

Minimum Balance

Axos Bank does not have a minimum balance requirement on its checking accounts.

Access to Mobile Banking

Axos Bank offers access to mobile banking. Customers can manage their accounts, pay bills, deposit checks, transfer money, and track spending using the Axos All-In-One Mobile Banking app, which is available for iOS and Android devices.

While American Express is best known for its suite of business credit cards, the company also offers a top-notch business checking account for businesses.

One notable advantage of opening an account with American Express is the inclusion of Kabbage Funding, which offers seamless approval for lines of credit up to $250,000. This option remains accessible even for individuals with a modest credit score, as approval can be obtained with a FICO score of 640.

Kabbage Funding streamlines the application process for checking and line of credit products. Utilizing your banking history, Kabbage can automatically approve you for a line of credit. In case of an initial denial, demonstrating a positive history through a Kabbage checking account can lead to automatic approval when your account reflects eligibility.

Why We Chose It: American Express Business Checking is one of our top picks for businesses in Texas that want to take advantage of business credit cards.

Fees

American Express Business Checking comes without monthly fees, eliminating the need for a minimum opening deposit and online transaction fees.

While using MoneyPass ATMs is fee-free, out-of-network ATM transactions incur a charge of approximately $3 per transaction. It’s important to note that American Express does not support cash deposits.

Interest Rates

Regarding interest rates, this account boasts one of the highest Annual Percentage Yields (APYs), with a 1.30% return on balances up to $500,000.

Although it falls short of Bluevine’s generous 2.0% return, American Express Business Checking’s APY remains competitive, positioning it among the top choices on this list.

Minimum Balance

American Express requires no minimum balance to open or keep an account, and you won’t incur any fees or expenses if your business runs low on funds.

Access to Mobile Banking

American Express offers a comprehensive mobile banking app for iOS and Android devices.

The app allows users to manage accounts, pay bills, check balances, redeem rewards, set up account alerts, and access Amex offers.

Additionally, the app provides features such as fingerprint or Face ID login, the ability to freeze your card, and the option to split purchases.

Live Oak Bank is an online bank that offers a high-yield business savings account, making it an attractive option for businesses looking to earn a competitive interest rate on their savings.

With an APY of 4.00% on all balances and no minimum balance requirements to earn interest, Live Oak Bank Business Savings provides businesses with a compelling savings solution.

In addition, Live Oak Bank is a leading provider of SBA loans, making it a valuable resource for businesses needing financing.

Why We Chose It: Live Oak Bank Business Savings is our top choice for businesses looking to maximize their savings with a high-yield account and take advantage of Live Oak Bank’s expertise in SBA loans.

Fees

There are no monthly maintenance fees or minimum balance requirements for the Live Oak Bank Business Savings account. However, a dormant account fee of $10 will apply if the account has a balance of less than $10.01 and no activity for 24 consecutive months

Interest Rates

The Live Oak Bank Business Savings Account offers a competitive annual percentage yield (APY) of 4.00% for its business savings account. This high APY allows businesses to earn a substantial return on their savings, making it an attractive option for businesses looking to grow their funds.

Interest compounds daily, and accounts must hold at least 1 cent to qualify for interest, meaning that even small balances can earn interest, making it an excellent choice for businesses with small savings.

Minimum Balance

There is no minimum balance requirement to open the account, but customers must have a balance of $0.01 to earn interest.

Access to Mobile Banking

Live Oak Bank customers can access their savings accounts online and through the mobile app, available on iOS and Android. Through the mobile app, account holders can perform various banking activities such as managing accounts, viewing statements and tax documents, and depositing checks.

Wells Fargo is a large national bank with an extensive branch network in Texas, making it an attractive option for businesses that value branch access.

The Wells Fargo Initiate Business Checking Account offers a range of features, including phone customer support until 11 p.m. ET on weekdays and weekends, no fees at Wells Fargo ATMs, and access to around 4,900 branch locations.

Why We Chose It: Wells Fargo Initiate Business Checking Account is a solid choice for businesses that value branch access and a wide range of banking services.

With its extensive branch network and commitment to customer support, Wells Fargo can meet the needs of businesses of all sizes.

Fees

Opening a Wells Fargo checking account incurs a $10 monthly fee. For enhanced management, a $25 fee applies, and further optimization attracts a $75 fee.

Surpassing 100 free transactions results in an additional $0.50 charge per transaction, depositing cash beyond the limit carries a 0.3% processing fee, and in-person or mailed deposits come with a $2.50 charge.

In addition, the direct pay option adds a $10 monthly cost, while each additional Optimize Business Checking account is priced at $30.

Non-Wells Fargo ATM usage costs $2.50 per withdrawal, balance inquiry, or funds transfer, with international withdrawals incurring a $5.00 fee, while international purchases are subject to a 3% fee.

Outgoing domestic wire transfers cost $30, incoming domestic ones are $15, and incoming international ones are $16.

Interest Rates

Wells Fargo checking accounts yield minimal interest rates, ranging from 0.03% to 0.05% APY, providing little or no motivation to maintain a substantial balance.

Minimum Balance

Maintaining a minimum balance is required for Wells Fargo Business checking accounts.

For instance, the Initiate Business Checking account demands a $500 minimum daily balance to waive the $10 monthly service fee, while the Navigate Business Checking account requires a $10,000 minimum daily balance to avoid the $25 monthly service fee.

Access to Mobile Banking

Wells Fargo offers access to mobile banking, allowing users to manage accounts, pay bills, transfer funds, deposit checks, and more. The free app is available for iPhone, iPad, and Android devices, with a mobile website optimized for online banking features.