4 Best Banks for Businesses in Chicago in 2024

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    When it comes to finding the best bank for your business in Chicago, there are several factors to consider, such as the bank’s reputation, services offered, fees, and customer support. Fortunately, Chicago is home to many top-rated banks that cater to businesses of all sizes and industries. Continue reading to know the best banks for businesses in Chicago.

    Best Business Checking Accounts in Chicago

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

    Chase Business logo

    Chase – Best for Its Business Resource Tools

    Chase Bank is a top choice for businesses seeking a bank that offers a wide range of business resource tools. With over 300 branches and 400 ATMs in Chicago and its surrounding areas, Chase makes accessing your money incredibly convenient. In addition to having a significant physical presence, Chase offers online banking and mobile banking services that allow you to easily manage your accounts, check balances, and transfer money, even when you’re on the go.

    Chase offers various accounts that cater to different needs, from simple savings accounts to interest-earning checking accounts and long-term CDs. Chase also offers a specialized banking experience for students. Their Chase High School Checking and Chase College Checking accounts are tailored for high school and college students to help them conveniently manage their finances.

    Why we chose it: We chose Chase Bank because of its wide physical presence, comprehensive online and mobile banking services, variety of account options, and specialized banking experience for students.

    • Wide physical presence with over 300 branches and 400 ATMs in Chicago and surrounding areas
    • Comprehensive online banking and mobile banking services
    • Offers a variety of account options to cater to different needs
    • Business resource tools, including educational content and tools to manage finances effectively
    • Monthly fees on some accounts
    • Some accounts require minimum balances to avoid fees
    Wintrust Bank logo

    Wintrust Bank – Best for Local Business Support 

    Wintrust Bank is committed to helping small and mid-sized businesses grow and succeed. The bank has a team of experienced business bankers who work closely with local business owners, providing them with the guidance, resources, and financial solutions they need to achieve their goals.

    Wintrust Bank offers various business banking products and services, including business checking and savings accounts, merchant services, cash management, and commercial lending. In addition to its financial offerings, Wintrust Bank is actively involved in the local business community, partnering with various organizations and initiatives to promote economic growth and development. 

    Why we chose it: Wintrust Bank offers exceptional services and resources to help small businesses thrive.

    • Access to a range of financial services
    • Security and protection of funds
    • Convenience and accessibility through online and mobile banking services
    • Rewards programs and incentives for using their services
    • High fees for certain services
    • Limited availability of physical branches in certain areas

    Bank of America has a well-established presence in numerous countries, making it an excellent choice for companies that conduct business on a global scale. The bank offers various international services, including foreign currency exchange, international wire transfers, and trade financing. Its online banking platform allows businesses to manage their accounts and transactions in various currencies, making tracking and managing their global operations easier.

    Bank of America’s extensive network of international branches and partner banks also gives businesses access to local knowledge and expertise in different regions, enabling them to make informed decisions about their global operations. 

    Why we chose it: Bank of America has a strong reputation and financial stability, making it a reliable partner for businesses looking to expand internationally.

    • Extensive international presence and resources, with operations in over 35 countries and territories
    • Offers a wide range of international service
    • Strong reputation and brand recognition
    • Dedicated relationship managers
    • Higher fees compared to some other banks,
    First Midwest Bank logo

    First Midwest Bank – Best for Business Banking Freebies

    First Midwest Bank is an excellent choice for businesses looking for freebies and perks with their business banking accounts. Some of the most notable benefits offered by First Midwest Bank include free business debit cards, free online banking, free bill payment, and free checks. These perks can help businesses save money and simplify their day-to-day financial operations. 

    Also, First Midwest Bank offers various business checking accounts to meet the needs of different types of businesses, from small startups to larger corporations. Another advantage of First Midwest Bank is its robust online and mobile banking services, making it easy for businesses to manage their finances.

    Why we chose it: We chose First Midwest Bank as one of the best banks in Chicago for business banking freebies due to its range of free perks and comprehensive online and mobile banking services.

    • Offers a variety of business checking accounts to meet the needs of different types of businesses
    • Provides free business debit cards, online banking, bill payment, and checks
    • Robust online and mobile banking services for easy account management on the go
    • Limited physical presence outside of the Chicago area
    • A complicated fee structure may be difficult to navigate for some customers

    Recommended Bank Account for Businesses in Chicago

    Chase, Wintrust, Bank of America, and First Midwest Bank are all recommended banks for businesses in Chicago. Each bank offers unique features and benefits that cater to different business needs. By choosing these banks you are sure to receive the best services.