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Finding the right bank for your business in Detroit can be difficult. However, a crucial decision can significantly impact your business’s success. A good bank can provide your business with the financial support, tools, and services necessary to achieve your goals, while a bad bank can hinder your progress and cause unnecessary stress. Keep reading to find out the best banks for businesses in Detroit.
Best Business Checking Accounts in Detroit
The best banks with the best checking accounts for businesses in Detroit are:
- Comerica Bank – Best for Customer Service and Business Banking Solutions
- Huntington Bank – Best for Business Checking Accounts
- Chase Bank – Best for Its Business Resource Tools
- Flagstar Bank – Best for Business Financing
Comerica Bank – Best for Customer Service and Business Banking Solutions
Comerica‘s customer service team is dedicated to serving business clients and provides personalized attention to meet their needs. They offer a range of business banking solutions, including treasury management, merchant services, and international banking services.
Comerica’s treasury management services help businesses manage their cash flow and optimize their working capital, while its merchant services provide efficient payment processing solutions. Also, Comerica’s international banking services provide businesses with the tools they need to expand their global reach.
Why we chose it: Comerica Bank was chosen as one of the best banks for businesses in Detroit due to its exceptional customer service and ability to provide customized banking solutions tailored to the unique needs of its business clients.
- Exceptional customer service
- Customized banking solutions
- Efficient processes
- Robust online banking platform
- Limited geographic reach
- Higher fees
Huntington Bank – Best for Business Checking Accounts
Huntington Bank has consistently been recognized as one of the best banks for business checking accounts due to its competitive fees and wide range of business checking account options.
Huntington Bank’s checking account options include tailored accounts for different business sizes and types, such as small business, commercial, and non-profit checking.
Also, Huntington Bank’s online banking platform provides businesses with convenient access to their accounts, and its mobile app allows for easy account management.
Why we chose it: Huntington Bank was chosen as one of the best banks for businesses in Detroit due to its wide range of business checking account options, competitive fees, and commitment to technological advancements that enhance the banking experience for its business clients.
- Wide range of business checking account options
- Competitive fees
- Mobile banking and online banking platforms.
- Offers merchant services and treasury management
- Limited geographic reach
- Limited loan options
Chase Bank – Best for Its Business Resource Tools
Chase Bank is an excellent choice for businesses in Detroit seeking a banking partner that provides comprehensive business resource tools. Chase Bank offers a range of digital tools, such as its Business Complete Banking account, which provides businesses with a suite of financial solutions, including online bill pay, account alerts, and unlimited electronic deposits.
Chase Bank’s Cash Flow Dashboard also gives businesses valuable insights into their cash flow and enables them to make informed financial decisions. Additionally, Chase Bank’s Merchant Services allow businesses to accept payments from customers seamlessly.
Why we chose it: We chose Chase Bank for its business resource tools because it offers a comprehensive suite of digital tools designed to help businesses manage their finances efficiently.
- A comprehensive suite of digital tools.
- Easy-to-use platform with 24/7 access to accounts
- Cash Flow Dashboard
- Merchant Services
- Some fees may apply for certain services.
- Limited physical branch locations in certain areas.
- Minimum deposit requirements may apply for certain accounts.
Flagstar Bank – Best for Business Financing
Flagstar Bank offers a range of commercial lending solutions, including business term loans, lines of credit, and commercial real estate financing. Flagstar Bank’s commercial lending team works closely with businesses to understand their unique financing needs and develop customized solutions to help them achieve their goals.
Flagstar Bank also offers SBA loans and other government-guaranteed lending programs that provide businesses with access to affordable financing options.
Why we chose it: We chose Flagstar Bank for its excellent range of business financing solutions, including commercial term loans, lines of credit, and commercial real estate financing.
- Provides several financing solutions
- An experienced commercial lending team that works closely with businesses to understand their unique needs.
- Government-guaranteed lending programs
- Online resources and educational materials
- Some fees may apply for certain financing solutions.
- Limited physical branch locations in certain areas.
Recommended Bank Account for Businesses in Detroit
We highly recommend Comerica Bank, Huntington Bank, Chase Bank, and Flagstar Bank as the top banks for businesses in Detroit. These banks have a proven track record of providing excellent customer service, innovative banking solutions, and financial support to help businesses achieve their goals.
