Are you looking forward to an online banking solution for your small business? Do you think it’s difficult to transact money through conventional banks? Are you in need of an online bank that makes it easy for you to manage your business revenue? Then there is no need to struggle anymore.
Here, you are provided with one of the complete lists of the best banks online banks that can allow you to save your money and make transactions more easily.
Well, it is crystal clear that banks are very important for the management of any business because, without a proper bank account, it is very difficult to save your money. Moreover, banks can even provide you with profit over your deposit money.
Hence, you can increase your revenue after depositing it in the banks. However, the main problem of the banking system is they charge huge fees to their clients regarding the services they are providing in return to their clients.
And if you are the owner of a small business, then it is difficult for you to afford a costly bank. However, there is a better solution that is also available for small businesses if you can take the services of an online bank. However, online banking is quite a new notion, and not every business owner is aware of these banks.
If you are among those, then this article is all about what you need to know. Here, you are provided with complete details about the benefits of online banks and top leading online banks in 2023 that are beneficial for small businesses.
Benefits of Choosing an Online Banking System for Small Businesses
There are many benefits of using online banks as compared to conventional banking systems. And specifically, if you are running a small business, then online banks can serve you in many aspects that are better than conventional banks.
Online banks are easily accessible on your phones and electronic gadgets. This means that you can easily access your bank account through your phone.
Another benefit is you can make money transactions easily by sitting in your office as compared to going to banks for deposit and withdrawal of money. The most important benefit of online banks is they do not usually charge a heavy service fee.
Hence, you can easily manage your money through online banks without spending much money. And in all honesty, as a small business owner, it is not possible for you to spend money on huge service charges.
Hence, by seeing all these benefits, it is clear that online banks are the most suitable choice for small businesses as compared to other banks. Hence, if you are interested to know about such banks, then here is the list of the best online banks in 2023.
List of the Best Online Banks in 2023
- Capital One
- PNC BANK
- Axos Bank
- Blue vine
- Chase Bank
- Mercury
- Lili
- NorthOne
- LendingClub Bank
- NBKC Bank
- US Bancorp
- Novo Banco
- Radius Bank
- Found
- Relay Financial
- TD Bank
- Wells Fargo
- BankProv
- Grasshopper Bank
- Huntington Bank
1. Capital One
Capital One is one of the most famous Bank holding company that is located in the United States. It was founded in 1994 and has been serving in the banking sector for more than 25 years. This company was co-founded by Richard Fairbank and Nigel Morris. Moreover, it provides many great services related to the banking sector, such as credit card processing, auto loans, and much more.
Furthermore, it is very easy to use this bank for your business account. Because through is one of the well-developed applications, it becomes easy for you to manage your money transactions. Besides this, if you choose this bank, then you can get the privilege of using more than 70,000 ATMs free of cost, which is also very appreciable. Apart from this, this bank provides a fast and secure experience for its clients with many more exciting features.
Description:
Founded: in 1994
Headquarters: Virginia, United States
Key Features:
This bank does not charge any monthly fee to its clients.
You can use thousands of ATMs without paying any money.
It ensures a secure experience for clients with the help of the 360 account checking feature.
2. PNC Bank
PNC Bank is another most popular bank that is listed in this article. This bank was founded in 1846 in the United States. In fact, this bank is serving in the banking sector in more than 150 countries. Since it is the most primitive bank in the United States, it has more experience in providing one of the best financial services to its thousands of customers. Currently, it is working under the supervision of Bill Demchak.
Bill has been serving as the President of PNC Bank since 2013 and has played a very crucial role in the betterment of this bank. Furthermore, PNC provides one of the fastest online banking systems. All you are required to do is download their application and get ready for their banking service through your mobile phone. You can even get access to ATMs free of cost with the help of opening an account in this bank.
Description:
Founded: in 1846
Headquarters: Pennsylvania, United States
Key Features:
This bank charges a monthly fee of around $7, but the good news is that you can get the free service if you have maintained a balance of $500 in your account.
It provides you with one of the fastest online banking applications, and even you can apply for an account online without visiting their branch.
It offers the facility of a PNC virtual wallet that will provide you a complete details of your bank account all the time, everywhere.
3. Axos Bank
Another one of the most popular online banks on this list is Axos Bank. This Bank was established in 2000. This means that this bank has spent more than two decades in this sector and even has managed to earn thousands of clients in the United States. Moreover, this bank is working under the leadership of Gregory Garrabrants, who has been serving as its CEO since 2007.
Furthermore, this bank provides one of the fastest services among its other competitors. In fact, you can open your online bank account within minutes. In addition to this, it provides valuable customer service all the time, 7 days a week.
Another good thing about this service is it provides you with a digital security feature that ensures you the best and most secure solution to save your money.
Description:
Founded: in 2000
Headquarters: California, United States
Key Features:
You can earn around 0.6% APY with the help of an Axos savings account.
This bank provides you with the facility of opening your account in just a few minutes.
If you are a small business owner, then the best thing for you is you can get the welcome bonus of $200 if you open your business account in this bank.
4. Blue vine
Bluevine is one of the most suitable banking solutions for those who want to run a small business. This bank was established in 2013 in the United States. Moreover, it was founded by Eyal Lifshitz, who is even serving as the CEO of this bank.
The most impressive thing about this bank is it is specially built to help small business owners so that they can grow their business with many exciting features.
This service allows users to earn more than 2% interest. However, to get eligible, you are required to have around $250,000 in your bank account. In addition to this, you are provided with a very secure banking experience if you use this service through its best security feature.
Lastly, you can even pay your bills with the help of its unique feature of digitizing bills, which can free you from the trouble of managing and paying bills.
Description:
Founded: in 2013
Headquarters: California, United States
Key Features:
This service provides you with the facility of earning interest on your deposit.
You can run your bank account without paying any monthly fee.
This service even offers its clients the facility of managing payment more easily.
5. Chase Bank
Chase Bank is another very popular banking company that has been providing its services for more than 25 years. This company was established in 1995 in the United States. Moreover, this banking company is now working under the management of Jamie Dimon, who is serving as the CEO and president of this company.
This bank provides a lot of beneficial features that can help you to grow your business. You can even earn a huge cashback of around $900 if you make any purchase for your business through this account. Besides this, it allows you to receive payments through your clients easily from anywhere without any limitations.
Description:
Founded: in 1995
Headquarters: New York, United States
Key Features:
This bank provides you with one of the best online banking services. In fact, you can deposit check payments through your mobile phone.
It provides many bonus prizes for its clients, including cash back of $200 for opening a new business account.
This bank can cost you a monthly fee depending upon your account and deposited money.
6. Mercury
Mercury is also one of the most famous popular banking service providers that is located in the United States. This company was established in 2017. Although it is a quite new company in the banking sector, it has been offering its services for more than 5 years. Yet, it has managed to earn the trust of many clients.
This bank is actually providing many quality services to small business owners. You can open your business account that is secure with FDIC Insurance. Besides all this, it provides you with free credit card services with a custom limit. In short, if you are interested in one of the sure business bank solutions, then Mercury is one of the best solutions for you.
Description:
Founded: in 2017
Headquarters: California, United States
Key Features:
This bank allows you to receive payment through multiple methods like wires, Checks, and much more.
This service is free of cost. So, you are supposed to pay a monthly fee.
This bank provides its clients with the facility of earning more than 5% yield.
7. Lili
The next one of the most popular banking services that is listed here is Lili. It is one of the leading financial service providers in the United States. This technology company was founded in 2018. Although, it has spent much less time in the finance sector. But still, this service is very popular among many clients.
You can get many businesses by using this banking service because it provides small business owners and freelancers with many quality services. You can manage your money transactions more easily with the help of this service. Besides this, it allows you to open your account and enjoy credit card services without paying any hidden fee.
Description:
Founded: in 2018
Headquarters: New York, United States
Key Features:
You can earn an APY of more than 4% by using this banking service.
Moreover, it provides you with the facility to open your business account in just a few minutes.
It gives you more than one debit card on a single business account.
8. NorthOne
NorthOne is another popular banking service that is designed to facilitate small businesses. This company was established in 2016 in the United States. This company has spent less than 10 years in this business, but still, it has managed to earn the confidence of many clients in the United States.
Furthermore, it allows you to open your account in less than 3 minutes, which is quite less as compared to other online banks. In addition to this, you can get access to detailed reports of your money transactions such as deposited money, profit, taxes, and much more. Lastly, you can manage your day-to-day business transactions easily with this banking service without any difficulty.
Description:
Founded: in 2016
Headquarters: New York, United States
Key Features:
This banking service provides you with the facility of managing your financial affairs.
You can open your account within a few minutes.
This service provides you with many beneficial banking tools, such as sending checks, receiving payments, credit card services, and much more.
9. LendingClub Bank
The next one of the best banking services that is listed here in this article is LendingClub financial service. This company was founded in 2006 in the United States. Moreover, it was founded by Renaud Laplanche and is working under the management of Scott Sanborn who has been serving as its CEO since 2016.
According to its claim, this service has helped more than 4 million clients by providing its services according to their expectations. Besides banking services, it also provides loan services to its clients. Hence, if you need a loan for the growth of your small business, then this company is what you need in your life.
Description:
Founded: in 2006
Headquarters: California, United States
Key Features:
It provides its clients with the most secure experience with the help of the 256-bit encryption security feature.
You can open your account quickly and can manage it more easily with their well-developed mobile application.
If there is any confusion, then you can contact the customer support team that is available for you to help anytime.
10. NBKC Bank
NBKC Bank is also one of the safest choices for those who want to open a secure bank account for their small businesses. This bank was founded in 1999 in the United States. It was previously known as Horizon Bank of Kanas till 2004 and National Bank of Kansas City till 2015. Moreover, it is under the management of its parent company, Ameri National Corporation.
Furthermore, this bank provides one of the coolest services for business owners. You can easily open the bank that is most suitable for your business. Besides this, it provides you with the facility of personal loans that can help you to grow your business. Moreover, it helps you to transfer money with more security through the fraud prevention feature.
Description:
Founded: in 1999
Headquarters: Kansas City, United States
Key Features:
This service allows you to manage your money transactions more easily.
You can even buy business loans in order to grow your business.
It does not charge any fee for opening an account. However, to enjoy its more features you are required to pay a little fee on a monthly basis.
11. US Bancorp
US Bancorp is also one of the most famous banking companies that has been providing its services for more than 70 years. This company was established in 1929 in the United States and is working under the supervision of the US Bank National Association. Currently, it is working under the management of Andrew Cecere, who serves as the CEO and President of this company.
This bank provides one of the most reliable online banking applications that allows you to manage your account just by staying at home. Furthermore, if you open your account in this bank, it will provide you with all the necessary details about your account, including tax documents, statements, and much more, directly on your mobile phone.
Description:
Founded: in 1929
Headquarters: Minnesota, United States
Key Features:
You are provided with complete details related to your money deposit and transaction.
This bank will provide you with notification about your account activity exactly on time.
If you want to open your business account, then you are supposed to pay a little bit of a fee for it.
12. Novo Banco
Novo Banco is another most popular banking company that is located in Portugal. This company was established in 2014. This shows that it has spent more than 8 years in the banking sector. This company is actually working under the management of Nani Holdings, SA and SGPS. Moreover, this company is led by Mark Bourke, who is serving as the CEO of the company.
Furthermore, this ban provides you with a very easy to open your account process that allows you to open your bank account in just a few clicks. You can use this service on your mobile phone as well as on your desktop without any limitations. In simple words, if you are looking for an easy-to-use online banking service, then you can open your account in this bank.
Description:
Founded: in 2014
Headquarters: Lisbon, Portugal
Key Features:
You can open your bank account more easily if you use this service.
It provides you with the facility of managing your account easily through your phone.
You are supposed to pay a small fee in order to use this service.
13. Radius Bank
Another important banking service that is listed here is Radius Bank. This bank was established in 1987 in the United States. Moreover, it was acquired by LendingClub in 2021. This bank has been serving in this field for nearly 35 years and this shows that it is one of the most reliable banking services on this list.
Furthermore, it provides one of the most beneficial tools that are useful for businesses to manage their business. You can create your account just by downloading a mobile application from Radius Bank and enjoying its services without any limitations. Lastly, it offers many cashback prizes for its clients that can help them to increase their saved money.
Description:
Founded: in 1987
Headquarters: Massachusetts, United States
Key Features:
This bank will provide you with a completely secure experience of managing your account online.
You can earn interest and rewards by opening your business accounts through this service.
This banking service is available in different countries of the world.
14. Found
Found is also one of the best banking services that is located in the United States. This company was established in 2019 and has been serving in this business for almost 5 years. Although, this banking service has spent very little time in this business. However, it still has managed to earn thousands of businesses.
This is because this application is specifically designed to help freelancers and small businesses. Hence, thousands of small business owners are already using this application. Besides this, it helps you to manage your accounts and taxes more easily. Apart from this, you can even manage your financial affairs quickly with the help of its amazing tools.
Description:
Founded: in 2019
Headquarters: California, United States
Key Features:
You are not supposed to pay any account maintenance fee or hidden charges to use this service.
It allows you to manage your accounts more quickly and easily.
You get real-time notifications about your financial status and taxes with the help of this service.
15. Relay Financial
Relay Financial is another one of the most popular banking service providers that is very popular among small businesses. This bank was established in 2018 by the struggle of Paul Klicink and Yoseph West. Joseph has also served as the CEO of this company since its start. This bank has many unique features that can help you to grow your business.
The best thing about this bank is you can open more than one savings account and earn an APY of around 3%. Besides this, it allows you to receive payments through various methods such as check deposits, wire, and many others. You can also get the facility of a virtual debit card as well as a physical debit card if you open an account in this bank.
Description:
Founded: in 2018
Headquarters: Ontario, Canada
Key Features:
This service allows you to earn APY on your deposited money.
Moreover, you can receive payments through multiple methods.
This bank service will not charge any account fee for its clients.
16. TD Bank
TD Bank is one of the most popular banks that is located in the United States. This bank was established in 1852 and has been serving in this business for more than 100 years. Furthermore, it is under the management of TD Bank US Holding company, which offers its services in many countries around the world.
This bank offers one of the most reliable inline services for many businesses. You can manage your accounts, pay bills, and receive payments with the help of this bank. Moreover, its well-developed online application allows you to manage your account more easily through your smartphone. Lastly, you can even deposit checks through your phone, which is also very appreciable.
Description:
Founded: in 1852
Headquarters: New Jersey, United States
Key Features:
This bank provides you with the facility of sending and receiving money easily through your phone.
You can get notifications related to your activity status on your mobile phone.
To use this banking service, you are required to pay $5 on a monthly basis.
17. Wells Fargo
Wells Fargo is another popular financial service provider in the United States. This company was established in 1852. This shows that this company has managed to earn a good status in this business for more than 100 years. Moreover, this company provides its services to more than 30 countries.
This service provides many beneficial features for those who want to look for the best online bank for their business. You can pay your bills and receive payments easily through this service. Apart from this, it allows you to analyze your company’s financial status and plan the best strategies for the benefit of your business.
Description:
Founded: in 1852
Headquarters:
Key Features:
This online banking service allows you to send and receive payment from anywhere.
It secures your money through fraud monitoring services all the time.
You can use your bank account to monitor your business’s financial status.
18. BankProv
The next one of the best online banking services for small businesses that is listed here is BankProv. This bank is also one of the most primitive banks that was established in 1828 in the United States. This shows that it has been offering its services for more than 150 years. Moreover, this bank is under the management of Provident Bancorp.
Besides securing your money, this bank provides you with many other services. You can pay your bills on time with the help of this bank account. Furthermore, it helps you to receive and send money through ACH transfer. In simple words, if you are looking for a secure and reliable banking service then this bank is surely the right choice for you.
Description:
Founded: in 1828
Headquarters: Massachusetts, United States
Key Features:
It is very easy to open account digital account through its fastest services.
It provides you with the facility of sending and receiving money more securely.
This bank may or may not charge you any monthly fee, depending upon your account balance.
19. Grasshopper Bank
Grasshopper Bank is another one of the best choices for those who want to manage their small business through online banking. This bank was established in 2016 in the United States. Moreover, it was founded by Judith Erwin and is working under the management of Mike Butler, who is serving as the CEO of this bank.
To support small businesses, this bank provides many services such as lending loans, etc. Furthermore, it helps you to open your account very quickly with the help of its well-established website. In addition to this, you can earn rewards and APY if you choose this bank for your business account.
Description:
Founded: in 2016
Headquarters: New York, United States
Key Features:
You can manage your payments easily through this banking service.
You can send money and deposit checks quickly.
The good thing is this bank will not charge any monthly fee to its clients.
20. Huntington Bank
Huntington Bank is the last online bank that is listed in this article. This bank was established in 1866 in the United States. This bank is under the management of Huntington Bancshares which is one of the leading banking services in the US. Moreover, it is under the management of Stephen S. Steinour, who has been serving as its CEO since 2009.
This bank is offering its clients the facility of different accounts that they can select according to their business needs. Moreover, you can get loans to grow your business. Besides all this, it also helps you to check your business’s financial status more easily. Hence, by seeing all these benefits, it is clear that this bank is surely one of the best online banks that deserves to be added to this list.
Description:
Founded: in 1866
Headquarters: Ohio, United States
Key Features:
This service provides an easy solution to manage your money transactions.
You can even get a loan for the growth of your business.
This bank will charge a fee according to the amount you have deposited in your account.
In A Nutshell:
Online banks are very necessary to manage and save money for any business. Through an online bank account, you can manage your various tasks, such as paying bills, making transactions, analyzing your profit and revenue, etc. Moreover, an online bank account is less expensive. In fact, many online banks are offering their services without charging any monthly fee.
Hence, it is quite obvious that online banking systems are much more beneficial for small businesses. However, the main problem is how someone can know what kind of online bank is suitable for their businesses. If you are in this trouble, then the above listed 20, one of the best online banks, will solve your issue because after reading this, you can get an understanding of what is the best online bank for your business.
