NerdWallet evaluated national, regional and online financial institutions to find the best banks for small businesses in Texas. Our selections offer free (or nearly free) business checking accounts, plus services like business loans and high-yield savings that can support your company as it grows and evolves.
The best choice for you will depend on what you want from a business bank. Online-only and national options tend to have an edge in areas like monthly fees, perks and overall accessibility. But if you’re focused on pure customer service, a Texas-based community bank or credit union may be the way to go — even if it’s less beneficial for your bottom line.
Here are our picks for the best overall banks available to small businesses in Texas, plus some local options worth considering.
I'M INTERESTED IN:
Our pick for
Non-bank option for small businesses
Bluevine Business Checking
4.7
NerdWallet rating
at Bluevine, Deposits are FDIC Insured
APY
2.00%
With $0 min. balance for APY
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
Fees vary by location.
Overdraft fees
$0
Bonus
N/A
Bluevine is a financial technology company, but it works with an FDIC-insured partner bank to offer a free business checking account with a high APY: Earn 2.00% interest on account balances up to and including $250,000. Terms apply.
Read full review
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions; no overdraft fees.
- Earn 2.00% interest on account balances up to and including $250,000. Terms apply.
- Access up to $3 million in FDIC insurance with Insured Cash Sweep.
- No fees at MoneyPass ATMs.
- Free incoming wires and low outgoing wire transfer fees.
Cons
- Fee for cash deposits.
- Fee for using out-of-network ATMs.
- No joint accounts.
Read full review
Our pick for
No-fee business banking checking
nbkc Business Account
4.9
NerdWallet rating
at nbkc bank, Member FDIC
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
Yes
Unlimited
Overdraft fees
$0
Bonus
N/A
NBKC offers fully online business checking with no fees, no transaction limits and no cap on cash deposits.
Read full review
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions, no overdraft fees and free incoming domestic wires.
- Up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
- Unlimited cash deposits via MoneyPass ATMs.
- Accept contactless payments via the NBKC app (iOS only). Fees apply.
Cons
- High fee ($45) for international wire transfers.
- Phone support only available during business hours.
- No third-party app integrations.
Read full review
Our pick for
Branch access
Chase Business Complete Banking®
4.5
NerdWallet rating
at Chase, Member FDIC
APY
N/A
Monthly fee
$15.00
Waived with $2,000 minimum balance
Min. opening deposit
$0
Free cash deposits
Yes
Up to $5,000 per month.
Overdraft fees
$34
Bonus
$300
Requirements to qualify
A mainstay bank with an innovative mobile app and nearly 500 brick-and-mortar locations in Texas.
Read full review
Pros
- No minimum opening deposit.
- Unlimited fee-free electronic transactions.
- Integrated credit card processing.
- No overdraft fee unless account is overdrawn by more than $50; 24-hour grace period applies to overdrafts beyond that amount.
- 24/7 customer support.
- No fees at 16,000 Chase ATMs and access to around 4,700 branches.
Cons
- $15 monthly fee.
- Monthly limit on fee-free cash deposits ($5,000) and physical transactions (20).
- Fee for using out-of-network ATMs.
- Limit of $5,000 per month in free cash deposits.
Read full review
Our pick for
Cash deposits
Bank of America® Business Advantage Fundamentals™ Banking
4.5
NerdWallet rating
at Bank of America, N.A., Member FDIC
APY
N/A
Monthly fee
$16.00
Min. opening deposit
$100
Free cash deposits
Yes
Up to $7,500 per statement cycle.
Overdraft fees
$10
Bonus
$200
Requirements to qualify
Bank of America has a high cash deposit allowance, making it a good option for restaurants, bars and other businesses that deal heavily in cash. This brick-and-mortar staple also offers a full suite of business services, and customers get access to a team of small-business specialists for support.
Read full review
Pros
- Fee-free electronic transactions.
- High cash deposit limits.
- Business accounts can be opened entirely online.
Cons
- No free business checking account option.
- $100 minimum opening deposit.
- Fee for using out-of-network ATMs.
Read full review
Our pick for
24/7 customer support
Axos Bank® Basic Business Checking
5.0
NerdWallet rating
at Axos Bank®, Member FDIC
APY
N/A
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
Yes
Unlimited
Overdraft fees
$25
Bonus
$400
Requirements to qualify
An online bank with free business checking, 24/7 live customer support and unlimited ATM fee refunds. Axos also offers business loans and a high-yield business savings account.
Read full review
Pros
- No monthly fees or minimum opening deposit.
- Unlimited fee-free transactions and free incoming wires.
- Automatic refunds of all ATM fees (domestic).
- Cash deposits via MoneyPass and AllPoint ATMs.
- 24/7 customer support.
- Welcome bonus for new customers (terms apply).
Cons
- $25 fee for insufficient funds/uncollected funds returned.
- No third-party app integrations.
Read full review
Our pick for
Online banking + business credit cards
American Express® Business Checking
5.0
NerdWallet rating
at American Express National Bank, Member FDIC
APY
1.30%
With $0 min. balance for APY
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
No cash deposits.
Overdraft fees
N/A
Bonus
N/A
American Express is best known for its suite of business credit cards, but they also offer a top-notch business checking account that earns 1.30%
Read full review
Pros
- No monthly fees or minimum opening deposit.
- No excess transaction fees and no charge for incoming wires.
- Earn 1.30% APY on balances up to $500,000.
- 24/7 customer support.
- No fees at more than 70,000 MoneyPass and Allpoint ATMs in the U.S.
Cons
- Can’t deposit cash.
- No outgoing international wire transfers.
Read full review
Our pick for
High-yield business savings + SBA loans
Live Oak Bank Business Savings
5.0
NerdWallet rating
at Live Oak Bank, Member FDIC
APY
4.00%
With $0.01 min. balance for APY
Monthly fee
$0
Min. opening deposit
$0
Free cash deposits
No
No cash deposits
Overdraft fees
N/A
Bonus
N/A
This online bank’s business checking account currently isn’t open to new customers. But Live Oak’s real star is its high-yield business savings account, which earns 4.00%
Read full review
Pros
- Industry-leading APY.
- No minimum balance to earn interest.
- No monthly fee or minimum deposit.
- Access up to $10 million in FDIC insurance with Insured Cash Sweep.
Cons
- No ATM or debit card access.
- No weekend customer support.
Read full review
Our pick for
Branch access + business loans
Wells Fargo Initiate Business Checking℠ Account
4.0
NerdWallet rating
APY
N/A
Monthly fee
$10.00
Waived with $500 minimum balance
Min. opening deposit
$25
Free cash deposits
Yes
Up to $5,000.
Overdraft fees
$35
Bonus
N/A
Wells Fargo is a large national bank with an expansive footprint in Texas and three business checking accounts to choose from.
Read full review
Pros
- Phone customer support available until 11 p.m. ET on weekdays and on Saturdays and Sundays.
- No fees at Wells Fargo ATMs and access to around 4,900 branch locations.
Cons
- No free business checking account option.
- Limit of 100 fee-free transactions per month.
Read full review
Best banks for business accounts in Texas
Bluevine
Best for: Non-bank option for small businesses
Bluevine technically isn’t a bank. But the financial services company offers a free online business checking account, which is backed by Coastal Community Bank and insured by the FDIC for up to $3 million via the IntraFi sweep network. Bluevine also offers business lines of credit.
Bluevine Standard: No monthly fee, minimum deposit, overdraft fees or transaction limits.
Earn 2.00% interest on account balances up to and including $250,000. Terms apply.
Bluevine Premier: Earns 4.25% APY on balances up to $3 million (terms apply). Monthly fee of $95 is waived if you meet daily balance and spending requirements. Premier customers receive discounted wire and same-day ACH transfers.
One-time and recurring bill payments via ACH, wire transfer or check.
No ATM fees at more than 37,000 MoneyPass ATMs.
Cash deposits available via Green Dot and compatible AllPoint+ ATMs. Fees and limits apply.
Additional services:
Business lines of credit up to $250,000.
Cash-back business credit card available for eligible Bluevine business checking customers (by invitation only).
» Read our full Bluevine business checking review
NBKC
Best for: No-fee business banking checking
NBKC’s free business checking is an attractive option for business owners who don’t mind a fully online banking experience. While NBKC has only four branch locations, all in the Kansas City area, customers can access their account through the mobile app, the website and any of the 34,000+ MoneyPass ATMs.
Free business checking with no monthly fees, overdraft fees or transaction fees.
Free, unlimited cash deposits at participating MoneyPass ATMs.
Fees charged by other ATMs are automatically refunded (up to $12 per month).
Account can be opened and managed entirely online.
Additional services:
Add-on invoicing software for $10 per month, after a free 60-day trial.
» Read our full NBKC business checking review
Chase
Best for: Branch access
Chase doesn’t offer a free business checking account, but perks like unlimited electronic transactions and integrated payment processing via the Chase mobile app make up for the monthly fee. There are nearly 500 Chase branches in Texas and roughly 5,000 nationwide.
Chase Business Complete Checking℠ is $15 per month, but there are multiple ways to avoid the fee.
Unlimited electronic deposits. In-person and paper transactions are limited to 20 per month for Chase Business Complete and 250 per month for Chase Performance Business Checking®.
Payment processing through the Chase mobile app with QuickAccept℠, no additional point-of-sale equipment needed.
Live customer service available by phone 24/7.
Additional services:
A full suite of Chase Ink business rewards credit cards, which offer generous sign-up bonuses, as well as other Chase business credit cards.
A variety of small-business loans, including lines of credit, equipment financing and SBA loans.
Chase offers payment services for e-commerce and retail businesses, including Chase QuickAccept, which lets business owners accept credit card payments from the mobile app.
» Read our full Chase business checking review
Bank of America
Best for: Cash deposits
Bank of America has a strong presence in the Lone Star state with 355 branch locations and more than 1,410 fee-free Bank of America ATM locations in Texas. And this national bank offers a generous cash deposit allowance compared with other brick-and-mortar banks, making it a good option for cash-heavy businesses.
Two account options with respective fees of $
16
and $29.95 per month, though both can be waived if you meet average monthly balance requirements. Both require a minimum opening deposit of $100.Bank of America Business Advantage Fundamentals Banking includes unlimited electronic transactions, up to 200 fee-free non-electronic transactions (checks paid, other debits, deposited items) and up to $7,500 in fee-free cash deposits per statement cycle.
Opportunity to earn a welcome bonus. Terms apply.
Additional services:
Suite of business credit cards including a secured business card for business owners with poor or limited personal credit history.
Multiple business savings accounts, including a high-yield business CD.
Bank of America business loans include secured and unsecured loans and lines of credit, SBA loans and franchise financing.
» Read our full Bank of America business checking review
Axos
Best for: 24/7 customer support
This online-only bank ups the ante for customer support, offering live, 24/7 phone support for business customers. The bank’s free business checking account also includes unlimited ATM fee refunds (including third-party fees) and cash deposits at compatible ATMs.
Two business checking accounts: one free and one interest-earning account.
Business Interest Checking is $10 per month unless you maintain an average daily balance of $5,000. The account earns up to
1.01%
APY.Basic Business Checking has no monthly fee or minimum opening deposit requirement and includes unlimited fee-free transactions.
Both accounts allow cash deposits via compatible AllPoint and MoneyPass ATMs.
Additional services:
Business savings, money market and certificates of deposit.
Business Premium Savings Account offered by Nationwide, with banking services by Axos, earns
4.01%
APY on all balances.Merchant services, including point-of-sale systems, e-commerce solutions and check acceptance through Cerelo Merchant Services.
Small-business loans, including SBA 7(a) loans, real estate and equipment financing, and working capital loans.
» Read our full Axos business checking review
American Express
Best for: Online banking and business credit cards
American Express business banking customers enjoy 24/7 access to live customer support and earn up to 1.30%
Online business checking account with no monthly fees.
Earn 1.30% APY (annual percentage yield) on balances up to $500,000 as of 02/07/2024.
No limit on transactions and no charges for incoming wire transfers or stop payments.
24/7 customer support online, by phone or via the app.
Cannot deposit cash.
Additional services
Top-rated business credit cards, including branded hotel and airline business cards for Hilton, Marriott, Delta and Amazon.
American Express Business Blueprint™, a suite of products that includes business lines of credit, as well as invoicing and credit card processing.
» Read our full American Express business checking review
Live Oak
Best for: High-yield business savings + SBA loans
This online bank’s big draw is its free high-yield savings account, which earns 4.00%
Three business checking options.
Business Essential Checking has a $10 monthly fee (waived with $1,000 average daily balance) and no monthly transaction limits.
Live Oak does not support cash deposits; accounts can be funded via ACH, wire transfer or check.
No weekend customer support.
Fee-free access to more than 55,000 AllPoint ATMs (savings accounts don’t have ATM access).
Additional services:
High-yield savings account that earns
4.00%
APY on all balances, with no monthly fee or minimum deposit.A cash sweep account that provides FDIC insurance for up to $10 million in deposits.
Business CDs that earn upwards of 5.00% APY.
Issued more SBA 7(a) loans by dollar amount than any other lender in 2023.
» Read our full Live Oak Bank business accounts review
Wells Fargo
Best for: Branch access + business loans
Wells Fargo has nearly 500 branches in Texas and offers a wide range of banking services for business owners who want in-person banking and can swing a monthly fee.
Three business checking accounts with monthly maintenance fees ranging from $10 for the bank's entry-level checking account (Initiate Business Checking) to $75 for a premium checking account that earns credits to offset fees (Optimize Business Checking).
Transaction limits range from 100 to 250 per month, depending on the account. Wells Fargo counts all withdrawals, debits and deposits, including mobile deposits, toward your transaction limit. Debit card purchases and payments do not count toward the limit.
Up to $20,000 in cash deposits per month, depending on the account type.
All business checking accounts can be opened online, over the phone or by visiting a branch.
Additional services:
Small-business loans, including commercial real estate and equipment financing. Wells Fargo also offers SBA loans.
Profit-sharing, 401(k) and IRA options for business owners and their employees.
Point-of-sale systems available through Clover.
Payroll services available through ADP.
» Read our full Wells Fargo business checking review
Other Texas-based business banks to consider
City Bank: A free business checking option, plus a full suite of business loans products, including agricultural loans.
First Horizon: Free business checking plus high-yield savings options, including a business certificate of deposit account that currently earns 5.10% APY (11-month term).
Frost Bank: Business checking with a low monthly fee that has multiple ways to waive, plus a high-yield business money market account that, as of this writing, earns 1.40% to 2.20% APY depending on your balance. Frost is also an active lender in the SBA’s 7(a) loan program.
Randolph-Brooks Federal Credit Union (RBFCU): Free and low-fee business checking options, along with business loans, mobile payment processing and payroll services. RBCFU makes it easy to become a member and has more than 60 branch locations across the state.
Note on American Express® Business Checking
Methodology
NerdWallet evaluates more than 30 business bank accounts from national, regional and online banks. Collectively, these accounts represent the largest banks by assets, internet search traffic and other factors, along with notable or emerging players in the industry.
We consider more than 20 data points for each account, scoring them on fees, perks and accessibility, among other factors. This information is gathered from each financial institution's website and company representatives. In addition, data is collected regularly and reviewed by our editorial team for consistency and accuracy.
Final star ratings are presented on a scale of one to five stars, where a one-star score represents "poor" and a five-star score represents "excellent." Learn more about how we rate business checking accounts.
