4 Best Banks for Businesses in Baltimore in 2024

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    Baltimore has a diverse economy and a growing business community. The city is home to many banks that cater to the needs of local businesses. Finding the right bank for your business can be crucial to achieving your financial goals, but it can also be a daunting task. With so many options to choose from, it can be difficult to determine which bank is the best fit for your specific needs. Here are the best banks for businesses in Baltimore.

    Best Business Checking Accounts in Baltimore

    The best banks with the best checking accounts for businesses in Baltimore are:

    M&T Bank logo

    M&T Bank – Best for Business Loans and Lines of Credit

    M&T offers a wide range of business financing options, including loans, lines of credit, and commercial mortgages, all designed to help businesses grow and thrive. With flexible terms and competitive rates, M&T Bank can help businesses of all sizes, from startups to established enterprises, find the funding they need to succeed. 

    M&T also offers personalized guidance and support throughout the lending process, ensuring that business owners understand their options and can make informed decisions about their financial future. 

    Why we chose it: We chose M&T Bank for its strong reputation in providing personalized service and support, as well as its wide range of business financing options and competitive rates.

    • Wide range of business financing options
    • Competitive rates and flexible terms
    • Personalized guidance and support 
    • Strong reputation for personalized service and support
    • Limited online banking capabilities compared to some other banks
    • Limited branch and ATM network outside of the Northeastern United States
    PNC Bank logo

    PNC Bank – Best for Business Checking Accounts

    PNC Bank is an excellent choice for businesses seeking reliable and affordable business checking accounts. With various account options, including the popular PNC Business Checking Plus, businesses can find an account that meets their specific needs. 

    PNC Bank also offers a wide range of online and mobile banking services, making it easy for businesses to manage their finances from anywhere. Additionally, PNC Bank provides excellent customer service and support, with knowledgeable representatives available to help businesses with their banking needs. 

    Why we chose it: We chose PNC Bank for its excellent reputation, commitment to quality banking services, and the range of account options they offer for businesses.

    • PNC Bank offers a variety of business checking account options
    • user-friendly online and mobile platforms
    • PNC Bank has a large network of ATMs and branches
    • They offer cashback rewards 
    • Some business checking accounts may have monthly fees and minimum balance requirements.
    • PNC Bank’s customer service may not be as responsive or helpful as other banks.
    Bank of America logo

    Bank of America – Best for Business Credit Cards 

    Bank of America offers a range of business credit cards designed to meet the diverse needs of business owners. From cashback rewards to travel benefits, Bank of America’s credit cards can help businesses save money and earn rewards on their purchases. 

    The bank also offers a user-friendly online platform for managing credit card accounts, making it easy for business owners to monitor transactions and make payments. Additionally, Bank of America’s extensive network of branches and ATMs across Baltimore makes it a convenient choice for local businesses.

    Why we chose it: Bank of America’s business credit cards offer competitive rewards and benefits, along with a user-friendly online platform and a large network of branches and ATMs in Baltimore.

    • Wide range of credit cards to choose from
    • Competitive rewards and benefits
    • Convenient online platform for managing credit card accounts
    • Large network of branches and ATMs in Baltimore
    • Some credit cards may have annual fees or other fees associated with them
    • The credit card approval process can be strict and may require a strong credit history
    Wells Fargo logo

    Wells Fargo Bank – Best for Merchant Services

    Wells Fargo Bank offers various merchant solutions, including payment processing, point-of-sale terminals, and mobile payment options. Also, they have tools to help businesses prevent fraud and manage their payments efficiently.

    With over 160 years of experience, Wells Fargo Bank has a reputation for providing reliable and secure merchant services to businesses of all sizes. They have a dedicated team of experts who can help businesses find the right solutions to meet their needs.

    Why we chose it: We chose Wells Fargo Bank as the best option for merchant services because of its extensive experience and wide range of services, including credit and debit card processing, online payment systems, and point-of-sale solutions. 

    • Competitive pricing for credit card processing
    • Advanced security features 
    • Wide range of payment processing options 
    • Dedicated support for merchant services customers
    • The lengthy application process for new merchant services accounts
    • Some additional fees may apply for certain services.

    Recommended Bank Account for Businesses in Baltimore

    M&T Bank, PNC Bank, Bank of America, and Wells Fargo Bank are the top choices for businesses in Baltimore. M&T Bank is the best for business loans and lines of credit, PNC Bank for business checking accounts, Bank of America for business credit cards, and Wells Fargo Bank for merchant services. Each bank has unique strengths and benefits, making them ideal for various business needs.