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Best Banks for Small Businesses in Texas of June 2024

By Kelsey Sheehy
Last updated on March 25, 2024
Edited byRyan Lane
Fact checked and reviewed

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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.

Best Banks for Small Businesses in Texas

Bank/institutionNerdWallet ratingMonthly feeAPYBonusLearn more

Bluevine Business Checking

Learn more

at Bluevine, Deposits are FDIC Insured

4.7/5

Best for Non-bank option for small businesses

$0

2.00%

With $0 min. balance for APY

N/A

Learn more

at Bluevine, Deposits are FDIC Insured

nbkc Business Account

Learn more

at nbkc bank, Member FDIC

4.9/5

Best for No-fee business banking checking

$0

N/AN/A

Learn more

at nbkc bank, Member FDIC

Chase Business Complete Banking®

Learn more

at Chase, Member FDIC

4.5/5

Best for Branch access

$15.00

Waived with $2,000 minimum balance

N/A$300

Requirements to qualify

Learn more

at Chase, Member FDIC

Bank of America® Business Advantage Fundamentals™ Banking

Learn more

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

4.5/5

Best for Cash deposits

$16.00

N/A$200

Requirements to qualify

Learn more

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

Axos Bank® Basic Business Checking

Learn more

at Axos Bank®, Member FDIC

5.0/5

Best for 24/7 customer support

$0

N/A$400

Requirements to qualify

Learn more

at Axos Bank®, Member FDIC

American Express® Business Checking

Learn more

at American Express National Bank, Member FDIC

5.0/5

Best for Online banking + business credit cards

$0

1.30%

With $0 min. balance for APY

N/A

Learn more

at American Express National Bank, Member FDIC

Live Oak Bank Business Savings

Learn more

at Live Oak Bank, Member FDIC

5.0/5

Best for High-yield business savings + SBA loans

$0

4.00%

With $0.01 min. balance for APY

$300

Requirements to qualify

Learn more

at Live Oak Bank, Member FDIC

Wells Fargo Initiate Business Checking℠ Account

4.0/5

Best for Branch access + business loans

$10.00

Waived with $500 minimum balance

N/AN/A

Bank/institutionNerdWallet ratingMonthly feeAPYBonusLearn more

Bluevine Business Checking

Learn more

at Bluevine, Deposits are FDIC Insured

4.7/5

Best for Non-bank option for small businesses

$0

2.00%

With $0 min. balance for APY

N/A

Learn more

at Bluevine, Deposits are FDIC Insured

nbkc Business Account

Learn more

at nbkc bank, Member FDIC

4.9/5

Best for No-fee business banking checking

$0

N/AN/A

Learn more

at nbkc bank, Member FDIC

Chase Business Complete Banking®

Learn more

at Chase, Member FDIC

4.5/5

Best for Branch access

$15.00

Waived with $2,000 minimum balance

N/A$300

Requirements to qualify

Learn more

at Chase, Member FDIC

Bank of America® Business Advantage Fundamentals™ Banking

Learn more

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

4.5/5

Best for Cash deposits

$16.00

N/A$200

Requirements to qualify

Learn more

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

Axos Bank® Basic Business Checking

Learn more

at Axos Bank®, Member FDIC

5.0/5

Best for 24/7 customer support

$0

N/A$400

Requirements to qualify

Learn more

at Axos Bank®, Member FDIC

American Express® Business Checking

Learn more

at American Express National Bank, Member FDIC

5.0/5

Best for Online banking + business credit cards

$0

1.30%

With $0 min. balance for APY

N/A

Learn more

at American Express National Bank, Member FDIC

Live Oak Bank Business Savings

Learn more

at Live Oak Bank, Member FDIC

5.0/5

Best for High-yield business savings + SBA loans

$0

4.00%

With $0.01 min. balance for APY

$300

Requirements to qualify

Learn more

at Live Oak Bank, Member FDIC

Wells Fargo Initiate Business Checking℠ Account

4.0/5

Best for Branch access + business loans

$10.00

Waived with $500 minimum balance

N/AN/A

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Our pick for

Non-bank option for small businesses

Bluevine Business Checking

Read Review
Learn more

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

Our pick for

No-fee business banking checking

nbkc Business Account

Read Review
Learn more

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

Our pick for

Branch access

Chase Business Complete Banking®

Read Review
Learn more

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

Our pick for

Cash deposits

Bank of America® Business Advantage Fundamentals™ Banking

Read Review
Learn more

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

Our pick for

24/7 customer support

Axos Bank® Basic Business Checking

Read Review
Learn more

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

Our pick for

Online banking + business credit cards

American Express® Business Checking

Read Review
Learn more

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

Our pick for

High-yield business savings + SBA loans

Live Oak Bank Business Savings

Read Review
Learn more

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
$300

Requirements to qualify

Our pick for

Branch access + business loans

Wells Fargo Initiate Business Checking℠ Account

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

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.

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.

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.

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.

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.

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%
APY with the bank’s free business checking account.

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%
APY with no minimum balance requirements. Live Oak is also a prolific SBA 7(a) lender.

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.

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
: 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 25, 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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