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Having a business that serves millions of people can be very lucrative in Austin. Successful business people in Austin are faced with so many financial obstacles which might affect their business.
To mitigate such problems, it is recommended to have a reliable banking partner that will serve your interests. The right banks can help businesses grow and sustain their operations in Austin. If you are interested in these top banks for businesses, continue reading.
Best Business Checking Account In Austin
When looking for the top banks for checking accounts in Austin, here are some options :
- Bank of America – Best Bank for Financial Rewards and Incentives
- Wells Fargo – Best Bank for Easy Access to Loans
- Truist Bank – Best Banks for Mobile Deposits
- First Citizens Bank – Best Bank for Digital Products and Services
Bank Of America – Best Bank for financial rewards and incentives
Bank of America is one of the top banks for businesses in Austin. Entrepreneurs looking for a banking partner that provides excellent monetary rewards and incentives should open an account today. Bank of America provides a three-fold rewards program for their customers which allows them many perks.
Some of these rewards include low-interest rate discounts, car loans, mortgage deductions, and free transfers. They offer 0.03% for a year APY which makes it an ideal bank for business owners.
Why We choose it: Bank of America is among the top picks because of its enticing financial producer and services. You can also open checking and savings accounts easily, and have access to home equity loans and easy credit card applications. Although there is a $12 monthly checking fee, it can be avoided when you maintain the minimum balance of $1,500.
- Erica: An advanced AI that assists customers online
- Simple rewards program
- Flexible loan application
- A $12 Monthly maintenance fee
- 0.02% savings APY
Wells Fargo – Best Bank for easy Access to loans
Every business needs enough finances to run its business well. To get easy loans for your business, open a checking or savings account with Wells Fargo. These loans can be accessed easily via mobile apps and if you have a good business you run in Austin. They have a rating of 4.7 and offer the best monetary services in Austin. What makes it attractive to businesses is that you can transfer and receive money easily for cash App, and Zelle.
Why We choose it: This bank is chosen because of its simple access to loans and has many branches in Austin. Also, they have an ideal bank app that is user-friendly and can be upgraded easily. Wells Fargo does charge a monthly fee, however, it isn’t on all savings and checking accounts. Also, if you can maintain $1,000 on your monthly account, this is waived.
- They have numerous branches in Austin
- Excellent mobile app
- Digital wallet features
- Quick Access to loans
- $10 monthly fee
- Small savings and a Year CD APY
Truist Bank – Best banks for Mobile Deposits
Truist Bank allows customers to make mobile check deposits easily. Mobile checks are one of how businesses blossom in Austin. If you don’t want to visit a physical bank but want to make check payments, Truist Bank is ideal. They are a nice choice for in-person banking and provide free savings accounts. New customers don’t need an opening deposit before their account is active. With a Truist checking and savings account, you can receive and send money via Zelle
Why we chose it: Truist bank is recommended because it has an online savings account with no opening deposit. This monetary institution also provides many CD terms which makes it a reliable choice for business owners. You can download their mobile app on Apple and Google stores without a problem.
- Some accounts have their monthly fee waived
- Easy transfer via Zelle and Cash App
- Good Mobile App features
- Huge overdraft transfer fees
- Monthly fee for account maintenance
First Citizens Bank – Best Bank for Digital products and services
First Citizens bank offers its customers an array of digital banking services and products. At this bank, you will get access to products such as credit and debit cards, virtual cards, and loans access. Their checking account is ideal for those who seek accounts that don’t require monthly charges. All their services are tailored towards meeting small businesses in Austin.
Why we chose it: First Citizens Bank is an FDIC-insured institution that is good for customers seeking checking accounts that can take large deposits of up to $500,000. We also love that it offers a $0 checking fee making it an ideal bank for those who want basic business accounts.
- No Bank Checking charges
- 4.7 Average App rating
- Easy access to banking features
- 0.12% APY for a 12-month CD
Recommended Bank Account for Businesses in Austin
The ideal banks for businesses in Austin are Truist Bank, Bank of America, First Citizens Bank, and Wells Fargo. These banks are the top picks for those who want a good business account in Austin. They will provide customers with flexible loan applications, easy access to credit and debit cards, various digital products and services, and an amazing digital banking experience.
