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Best Banks for Small Business in California of December 2024

Last updated on March 26, 2024
Written By Kelsey Sheehy

Senior writer

Edited By Ryan Lane

Assigning Editor

The best banks for small businesses in California make it easier to run your business with excellent business checking accounts, digital tools and integrations, and accessible customer support. Additional services, like business loans, credit cards and payment processing, further allow these banks to meet your business’s changing needs.
The star ratings on this list are specific to the bank's entry-level business checking account, not the overall institution. The exception is Live Oak Bank, which we've highlighted for its standout business savings account.

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.

    250+ small-business products reviewed and rated by our team of experts.
    95+ years of combined experience covering small-business and personal finance.
    Objective comprehensive business bank accounts rubric (Methodology).
    NerdWallet's business banking content — including our ratings, reviews and recommendations — is produced by a team of writers and editors who specialize in small-business finances. Their journalism has appeared in The Associated Press, Washington Post, MarketWatch, Nasdaq, Entrepreneur, ABC News, MSN and other national and local media outlets. Each writer and editor follows NerdWallet's strict editorial guidelines to ensure fairness and accuracy in our coverage.

    Best Banks for Small Business in California

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    U.S. Bank Silver Business Checking

    4.2 

    Best for Customer support + SBA loans

    APY
    N/A
    Monthly fee
    $0
    Bonus
    $400

    Requirements to qualify

    Learn more

    at U.S. Bank, Member FDIC

    U.S. Bank Silver Business Checking

    Best for Customer support + SBA loans

    4.2 
    APY
    N/A
    Monthly fee
    $0
    Bonus
    $400

    Requirements to qualify

    Learn more

    at U.S. Bank, Member FDIC

    Chase Business Complete Banking®

    4.5 

    Best for Branch access + business credit cards

    APY
    N/A
    Monthly fee
    $15.00

    Waived with $2,000 minimum balance

    Bonus
    $300

    Requirements to qualify

    Learn more

    at Chase, Member FDIC

    Chase Business Complete Banking®

    Best for Branch access + business credit cards

    4.5 
    APY
    N/A
    Monthly fee
    $15.00

    Waived with $2,000 minimum balance

    Bonus
    $300

    Requirements to qualify

    Learn more

    at Chase, Member FDIC

    Bank of America® Business Advantage Fundamentals™ Banking

    4.5 

    Best for Cash deposits + loyalty perks

    APY
    N/A
    Monthly fee
    $16.00

    $0 for the first 12 statement cycles.

    Bonus
    $200

    Requirements to qualify

    Learn more

    at Bank of America, N.A., Member FDIC

    Bank of America® Business Advantage Fundamentals™ Banking

    Best for Cash deposits + loyalty perks

    4.5 
    APY
    N/A
    Monthly fee
    $16.00

    $0 for the first 12 statement cycles.

    Bonus
    $200

    Requirements to qualify

    Learn more

    at Bank of America, N.A., Member FDIC

    Axos Bank® Basic Business Checking

    4.9 

    Best for Online bank with easy cash deposits

    APY
    N/A
    Monthly fee
    $0
    Bonus
    $400

    Requirements to qualify

    Learn more

    at Axos Bank®, Member FDIC

    Axos Bank® Basic Business Checking

    Best for Online bank with easy cash deposits

    4.9 
    APY
    N/A
    Monthly fee
    $0
    Bonus
    $400

    Requirements to qualify

    Learn more

    at Axos Bank®, Member FDIC

    Bluevine Business Checking

    4.7 

    Best for Non-bank option for small business

    APY
    1.50%

    With $0 min. balance for APY

    Monthly fee
    $0
    Bonus
    $300

    Requirements to qualify

    Learn more

    at Bluevine, Deposits are FDIC Insured

    Bluevine Business Checking

    Best for Non-bank option for small business

    4.7 
    APY
    1.50%

    With $0 min. balance for APY

    Monthly fee
    $0
    Bonus
    $300

    Requirements to qualify

    Learn more

    at Bluevine, Deposits are FDIC Insured

    American Express® Business Checking

    5.0 

    Best for Online banking with 24/7 customer support

    APY
    1.30%

    With $0 min. balance for APY

    Monthly fee
    $0
    Bonus
    N/A
    Learn more

    at American Express National Bank, Member FDIC

    American Express® Business Checking

    Best for Online banking with 24/7 customer support

    5.0 
    APY
    1.30%

    With $0 min. balance for APY

    Monthly fee
    $0
    Bonus
    N/A
    Learn more

    at American Express National Bank, Member FDIC

    Live Oak Bank Business Savings

    5.0 

    Best for High-yield business savings

    APY
    3.80%

    With $0.01 min. balance for APY

    Monthly fee
    $0
    Bonus
    $400

    Requirements to qualify

    Learn more

    at Live Oak Bank, Member FDIC

    Live Oak Bank Business Savings

    Best for High-yield business savings

    5.0 
    APY
    3.80%

    With $0.01 min. balance for APY

    Monthly fee
    $0
    Bonus
    $400

    Requirements to qualify

    Learn more

    at Live Oak Bank, Member FDIC

    Navy Federal Credit Union Business Checking

    4.2 

    Best for Military members, veterans and their families

    APY
    0.01%

    With $0 min. balance for APY

    Monthly fee
    $0
    Bonus
    N/A

    Navy Federal Credit Union Business Checking

    Best for Military members, veterans and their families

    4.2 
    APY
    0.01%

    With $0 min. balance for APY

    Monthly fee
    $0
    Bonus
    N/A

    Best banks for business in California

    Axos

    Our pick for: Online bank with easy cash deposits
    NerdWallet star rating:
    4.9
    Online banks typically charge a fee for cash deposits, if they accept them at all. But Axos Bank lets you deposit cash at compatible AllPoint and MoneyPass ATMs for no additional fee. And if you’re charged a fee by a third-party ATM owner, Axos will automatically refund the fee (domestic ATMs only).

    Live Oak

    Our pick for: High-yield business savings
    NerdWallet star rating:
    5
    One way to make your money work harder is to stash your savings in a high-yield account. And Live Oak’s free business savings account is one of the best on the market with a
    3.80%
    APY. Live Oak also has a 12-month business CD that earns
    4.30%
    APY, as of this writing. Beyond its high-yield options, this online bank also offers multiple business checking and lending products.

    American Express

    Our pick for: Online banking with 24/7 customer support
    NerdWallet star rating:
    5
    American Express business checking account has no monthly fee and earns up to
    1.30%
    APY. American Express business banking customers also enjoy 24/7 access to live customer support.

    Bluevine

    Our pick for: Non-bank option for small businesses
    NerdWallet star rating:
    4.7
    Bluevine partners with an FDIC-insured bank to offer business checking and lending products. The bank’s free business checking account earns
    1.50%
    APY (terms apply). Businesses with substantial cash flow, and those who send a lot of wires or same-day ACH transfers, can also consider Bluevine Premier, which has a hefty monthly fee but offers discounted payments and a much higher APY.

    Chase

    Our pick for: Branch access
    NerdWallet star rating:
    4.5
    Chase has more than 900 branch locations across California, making it easier for business owners to get facetime with their business banker. And Chase backs up its physical presence with some top-notch digital tools. Chase’s mobile app has built-in payment processing via Chase QuickPay, a feature that’s included in Chase Business Complete Banking℠.

    Bank of America

    Our pick for: Cash deposits + loyalty rewards
    NerdWallet star rating:
    4.5
    Businesses that make frequent cash deposits will appreciate Bank of America’s generous cash deposit allowance — $7,500 or $20,000 per month, depending on the account. And those who qualify for the bank’s loyalty program (Preferred Rewards for Business) earn a number of perks, including discounted rates on certain business loans, a higher APY on select business savings products and a better rewards rate on Bank of America business credit cards.

    Navy Federal Credit Union

    Our pick for: Military member, veterans and their families
    NerdWallet star rating:
    4.2
    Navy Federal Credit Union specializes in veteran-owned businesses, as well as those run by military members and their families. You’ll find business checking, savings and lending services with competitive terms, along with insurance and payroll processing. All listed owners of the business must be Navy Federal members to qualify. Membership is available to military members (active duty, veteran and retired), Department of Defense employees and their families.

    U.S. Bank

    Our pick for: Customer support + SBA loans
    NerdWallet star rating:
    U.S. Bank checks a lot of boxes for business owners. Free business checking? Check. Generous welcome offer? Check. Top-rated customer support? Check. In fact, U.S. Bank ranked second in J.D. Power’s most recent Small Business Banking Satisfaction study. It is also one of the most active SBA 7(a) lenders in California.

    Other California-based business banks to consider

    Beneficial State Bank: This bank offers free business checking, along with business lending, savings and cash management tools. It’s also a certified B Corporation and community development financial institution (CDFI), so the bank actively works to protect the environment and support low-income communities.
    California Bank & Trust: California Bank & Trust has more than 85 branch locations across the state and offers a suite of business banking services, including multiple business checking and savings options. The bank has business CD terms that earn more than 4.00% APY (as of this writing).
    Self-Help Federal Credit Union: Self-Help Federal Credit Union has more than 20 branch locations scattered across the state, including offices in the Bay Area, Central Valley, Los Angeles and San Diego. This mission-driven credit union, which is dedicated to providing banking services and economic opportunity to underserved communities, offers business banking, lending and savings products.
    Note on
    American Express® Business Checking
    : At Allpoint® and MoneyPass® locations in the U.S., you can withdraw cash and get balance information with no fee. Access to ATMs outside of the Allpoint® and MoneyPass® networks are subject to fees by the ATM owner and/or network. ATM withdrawal limits apply. American Express applies foreign exchange fees to withdrawals in foreign currencies. American Express does not accept ATM cash deposits into your Business Checking account at this time. Visit americanexpress.com/atm-locator to find participating ATMs in the U.S.
    Last updated on March 26, 2024

    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.
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