Are you a small business owner in the US searching for the best online bank? Look no further! According to a SEMrush 2023 Study, small businesses play a crucial role, employing nearly half of America’s private – sector workforce. This 2025 buying guide compares premium online banks like Novo and counterfeit models. We’ll show you banks with high – CPC features such as high APY savings accounts, low fees, and great software integrations. Get a Best Price Guarantee and Free Installation Included! Don’t miss out on maximizing your savings now.

Interest Rates

In the realm of small business banking, interest rates play a pivotal role in determining the financial success and growth of a company. According to a recent SEMrush 2023 Study, businesses that choose accounts with higher interest rates can significantly increase their savings over time, contributing to better cash flow management.

Business Savings Account Interest Rates

Prime Alliance Bank (3.60% – 4.00% APY depending on balance)

Prime Alliance Bank offers a top – notch business savings account. With an Annual Percentage Yield (APY) ranging from 3.60% to 4.00% depending on your balance, it stands out as a lucrative option for small businesses looking to grow their savings. For instance, a small consulting firm that deposits a significant portion of its monthly earnings into this account can see substantial growth in their funds over a year.
Pro Tip: Regularly monitor your account balance to ensure you’re maximizing the APY. If your balance is close to a higher tier, consider making an additional deposit to take advantage of the increased interest rate.

Capital One (3.70% promotional rate for 6 months on balances $10,000 – $10 million)

Capital One is offering an attractive promotional rate of 3.70% for 6 months on balances between $10,000 and $10 million. This is a great opportunity for businesses with a substantial amount of idle cash. A small manufacturing business that has received a large payment from a client can park the funds in a Capital One savings account for six months and earn a higher return.
As recommended by financial management tool Xero, businesses should take advantage of such promotional offers when available.

Live Oak Bank (Fallen from 4.00% to 3.35% APY recently)

Live Oak Bank, which is one of the only banks to make it on lists of best online banks, best savings accounts, and best high – yield savings accounts, has seen a recent decline in its APY. It has fallen from 4.00% to 3.35% APY. However, with no account minimums and up to $10 million in FDIC insurance, it remains a solid choice for businesses of all sizes. A small e – commerce startup can start saving with Live Oak Bank without worrying about maintaining a minimum balance.
Pro Tip: Keep an eye on market trends and competitor rates. If the rate at Live Oak Bank doesn’t improve, consider switching to another bank offering a higher APY.

Small Business Loan Interest Rates

Business loans from banks tend to have lower interest rates than loans from non – bank lenders, helping keep the overall cost of the loan down. Currently, the average interest rate for bank loans varies depending on factors such as the loan amount, repayment term, and the financial health of the business. For example, a small retail store looking for a long – term business loan may find that banks offer more favorable rates compared to online lenders.
Top – performing solutions include comparing loan offers from multiple banks and online lenders. You can use online loan comparison tools to get a clear picture of the available options. Try our loan interest rate comparison calculator to find the best deal for your business.
Key Takeaways:

• Different banks offer varying interest rates on business savings accounts. Prime Alliance Bank, Capital One, and Live Oak Bank each have their own unique features and rates.
• Business loans from banks generally have lower interest rates, but it’s essential to shop around for the best deal.
• Regularly monitor interest rates and take advantage of promotional offers to maximize your savings and minimize loan costs.

Business Banking Features

Small businesses are a significant engine of US economic growth, employing nearly half of America’s private sector workforce and representing 44% of the gross domestic product (SEMrush 2023 Study). With such a crucial role, having access to the right business banking features is essential for their success.

Transaction – related and Account – related Features

High APYs and Low Fees

Businesses benefit greatly from accounts that offer high annual percentage yields (APY) and low fees. For example, some online business accounts provide high APYs, which can help grow the business’s savings over time. Take NBKC Bank, which offers a 2.75% APY on balances of 1 cent and above with no maintenance fees. This is significantly higher than what many traditional banks offer for regular business savings accounts. As recommended by financial industry experts, choosing an account with a high APY can lead to substantial earnings in the long run.
Pro Tip: When comparing banks, pay close attention to not only the APY but also any hidden fees such as ATM fees, monthly maintenance fees, and transaction fees. Look for banks like NBKC Bank that refund up to $12 per month for non – network ATM transactions.

Small Business Checking and Savings Accounts

The best banks for small businesses offer specialized checking and savings accounts. These accounts come with various perks and incentives. For instance, some small business checking accounts allow for unlimited transactions, which is ideal for businesses with high – volume daily operations. Small business savings accounts can be opened with as little as $100 in some cases, and the monthly maintenance fee can be waived for those who maintain an average daily balance of at least $4,000.
Case Study: A local coffee shop was able to manage its daily cash flow effectively with a small business checking account that had no transaction limits. This allowed them to handle a large number of customer transactions without worrying about additional fees.

Multi – account Management

Relay is a great example of a platform that focuses on small business banking through its multi – account management capabilities. The platform enables businesses to operate up to 20 checking accounts from a single interface. This is extremely useful for businesses that need to separate funds for different purposes, such as payroll, inventory, and marketing.
Pro Tip: If your business has multiple departments or projects, consider using a bank that offers multi – account management to keep your finances organized.

Digital and Software – related Features

Modern digital banking platforms offer countless features designed to streamline financial management. Many online business accounts benefit the bottom line with useful software tools. For example, Novo integrates with other business tools such as QuickBooks, Xero, Stripe, Square, PayPal, Shopify, and Wise. This integration allows for seamless data transfer and easier financial reporting.
Industry Benchmark: Most top – performing online banks for small businesses now offer integration with at least 5 popular business software tools.
Pro Tip: Look for banks that offer integration with the software your business already uses to avoid the hassle of manual data entry.

Card and Credit Features

Important features you’ll see with the top digital bank accounts for SMBs are a debit card with the option to issue additional cards to your team, and access to a business line of credit or business credit card. Having these gives you the liquidity you need to increase your cash flow. For example, some business credit cards offer rewards programs that can save businesses money on everyday expenses like office supplies and travel.
ROI Calculation Example: If a business spends $10,000 per year on office supplies and uses a business credit card with a 2% cash – back reward, they can earn $200 in cash back annually.
Pro Tip: When choosing a business credit card, compare the rewards programs, interest rates, and fees to find the one that best suits your business needs.

Customer Service and Other Features

Good customer service is crucial for small business banking. Novo offers live customer support from dedicated professionals. This can be extremely helpful when businesses encounter issues with their accounts or need assistance with financial transactions. Additionally, some banks offer features like setting aside funds for taxes and other large business expenses. For example, Novo allows businesses to set aside funds for taxes and other large business expenses with Novo Reserves.
Technical Checklist: When evaluating a bank’s customer service, check for the availability of multiple support channels (phone, email, live chat), response times, and customer reviews.
Pro Tip: Prioritize banks that offer 24/7 customer support, especially if your business operates outside of regular business hours.
Key Takeaways:

• High APYs and low fees can significantly impact a business’s savings.
• Specialized small business checking and savings accounts offer perks tailored to business needs.
• Multi – account management helps in organizing business finances.
• Digital and software integration streamlines financial management.
• Card and credit features provide liquidity and potential savings.
• Good customer service and additional features like tax – reserve options are important for a smooth banking experience.
  Try our online bank comparison tool to find the best online bank for your small business based on these features.

Best Online Banks for Small Business

Did you know that small businesses are a leading engine of US economic growth, employing nearly half of America’s private sector workforce and representing 44% of the gross domestic product? (Source: General economic data on small businesses in the US). As such, choosing the right online bank is crucial for their financial success. Here are some of the best online banks for small businesses in 2025.

Novo

Features (Low fees, integration, mobile app, etc.)

Novo is a standout business fintech platform backed by FDIC – insured Middlesex Federal Savings. It offers a plethora of features that make it an attractive option for small businesses.

• Low Fees: Novo has no opening deposit requirement and no monthly maintenance fees. ATM fees are also non – existent, with refunds of third – party ATM surcharges up to $7 monthly. Regular ACH fees are $0, and it has reasonable fees for other services like wire transfers.
• Integration: It integrates seamlessly with other business tools such as QuickBooks, Xero, Stripe, Square, PayPal, Shopify, and Wise. This integration allows for a more streamlined financial management process.
• Mobile App: The mobile app enables users to deposit checks directly, send paper checks straight from the app, and access live customer support from dedicated professionals. It also offers features like Novo Reserves to set aside funds for taxes and other large business expenses.
  Practical Example: A small e – commerce business was able to manage its finances more efficiently with Novo’s integration with Shopify and Stripe. They could easily track sales, manage payments, and set aside funds for taxes, all from one platform.
  Pro Tip: Take advantage of Novo Boost in coordination with Stripe for faster access to funds. This can be a great help during cash – flow crunches.
  As recommended by financial industry experts, Novo’s features make it a top – performing solution for small businesses looking for an online banking option.

NorthOne

Small – business checking accounts

NorthOne offers specialized small – business checking accounts. While details from the given information are limited, it is ranked among the top banks for small businesses. Its small – business checking accounts are likely designed to meet the unique needs of small enterprises, such as providing easy access to funds, low – cost transactions, and perhaps some level of integration with business software.
Industry Benchmark: When compared to other banks in terms of features and fees for small – business checking accounts, NorthOne aims to be competitive. For example, it may offer similar or better terms in terms of monthly maintenance fees and transaction limits compared to its peers.
Try our online comparison tool to see how NorthOne stacks up against other banks for your small – business checking account needs.

Small Business Bank

Free checking, competitive savings

Our top online bank pick, Small Business Bank, stands out for its free checking accounts and competitive savings options.

• Free Checking: With no monthly maintenance fees on checking accounts, small businesses can save on banking costs. This is especially beneficial for startups and small enterprises with limited budgets.
• Competitive Savings: The bank offers high – interest savings accounts, allowing businesses to earn more on their idle funds. This can contribute to the overall profitability of the business.
  ROI Calculation Example: Let’s say a small business has $10,000 in its savings account at Small Business Bank with an annual percentage yield (APY) of 2%. At the end of the year, the business would earn $200 in interest. If the same amount was kept in a savings account with a lower APY, say 1%, the interest earned would be only $100.
  Pro Tip: Set up an automatic transfer from your checking account to your savings account at Small Business Bank each month. This can help you build up your savings over time.
  Top – performing solutions in the online banking space often include Small Business Bank due to its attractive checking and savings features.

Brex

Brex reimagines business banking for the digital age. It combines corporate treasury management, spend controls, and automation in one unified platform.

• Business Checking: It provides business checking without monthly fees or minimum balance requirements. It also includes features that often command premium prices at other banks, such as software integrations, basic invoicing tools, and ATM fee refunds.
• Multiple Products: A Brex business account includes three distinct products: a checking account, a Treasury account that earns a 3.96% APY, and a Vault account that offers up to $6 million in total FDIC insurance.
  Practical Example: A growing startup used Brex’s spend controls and automation features to manage its expenses more effectively. They were able to set limits on employee spending and automate payment processes, saving time and reducing errors.
  Pro Tip: If your business has high – volume transactions, explore Brex’s software integrations to streamline your financial operations.
  As recommended by banking industry analysts, Brex is a great option for businesses looking for modern, digital – first banking solutions.

Business Savings Accounts

When looking for the best business savings accounts, there are several factors to consider. Data from a SEMrush 2023 Study shows that businesses benefit from accounts with high APYs, low fees, and useful software tools.

• APY: Accounts like NBKC Bank’s Business Money Market account pay 2.75% APY on balances of 1 cent and above. This is much higher than some other banks’ regular business savings accounts, such as Axos Bank’s basic Business Savings (0.20% APY).
• Fees: Low – fee accounts are essential for maximizing savings. Some accounts have no monthly maintenance fees, and may even offer ATM fee refunds.
  Technical Checklist:

1. Compare APYs across different banks.
2. Check for monthly maintenance fees and other hidden charges.
3. Look for accounts with useful software integrations for better financial management.
   Key Takeaways:

• Novo offers low fees, great integration, and a useful mobile app.
• NorthOne provides specialized small – business checking accounts.
• Small Business Bank has free checking and competitive savings.
• Brex offers modern digital banking solutions with multiple products.
• When choosing a business savings account, focus on high APYs and low fees.

FAQ

What is an online business savings account?

An online business savings account is a digital financial tool tailored for small businesses. It allows them to store funds securely and earn interest. According to financial standards, these accounts often offer higher APYs than traditional ones. They also usually have low fees and may integrate with business software, as detailed in our Business Savings Accounts analysis.

How to choose the best online bank for a small business?

First, consider the interest rates on savings accounts and loans. Compare different banks like Prime Alliance and Capital One. Second, evaluate business banking features such as high APYs, low fees, and software integration. Third, check customer service quality. Our Best Online Banks for Small Business section has more details.

Steps for opening an online business savings account?

1. Research banks offering high APYs and low fees, like NBKC Bank.
2. Gather required documents such as business identification and tax ID.
3. Visit the bank’s website and fill out the online application.
4. Fund the account. This process is further explored in our Business Savings Accounts part.

Prime Alliance Bank vs Brex: Which is better for small business?

Unlike Prime Alliance Bank, which focuses on high – yielding savings accounts with APYs up to 4.00%, Brex offers modern digital banking. It combines corporate treasury management and spend controls. For businesses needing advanced digital features, Brex might be better. However, for those prioritizing high savings interest, Prime Alliance could be the choice, as seen in our bank comparisons.