Setting up a business in Colorado springs comes with many challenges which if not attended to fast, can make a business fail. That’s why partnering with a reputable bank is advised to help your business grow and succeed. These top banks in Colorado Springs are reliable, credible and offer many features to their customers. Read on to learn more about our top picks in the city.
Best Business Checking Accounts In Colorado Springs
The top banking institutions with the top checking account for businesses in Colorado Springs are :
- Chase Bank – Best Bank with widespread Branch locations
- Bank of America – Best Bank with flexible checking account operations
- Key Bank – Best Bank with many Checking Account options
- U. S Bank – Best Bank with full-service banking services
Chase Bank tops our list for the Best Bank for Business in Colorado Springs because of the huge amount of physical branches it has. The bank has offices in all districts in the state. This makes it easy for you to easily walk in and open an account. Asides from the many branches, they provide various financial services and have a visible online presence.
You can check their website for various wealth creation products, investment services, and Loan access. The more time you spend as a Chase customer, the higher your interest rate. Their account type includes a low fee, Basic secure Banking, Premium Plus Checking SM, and SM checking account.
Why we chose it: Chase bank offers many Account options for businesses in Colorado Springs, also, you will get access to many credit card rewards like the Sapphire Reserve and Preferred for Travel amongst others. This bank has what you need to succeed in your business.
- Monthly maintenance fees are usually waived
- Quick mobile deposits
- Many branch locations
- Overdraft fees are high ($34)
- The low yield on many account type
Bank of America is part of the FDIC-insured banks in Colorado Springs which offer business owners structured accounts. The checking accounts they offer are in tiers that can be switched into another one without closing one account. This helps customers save time when ordering checks or credit cards.
One unique account you can open with this bank is the no-frills bank of America advantage safe balance checking account. This account doesn’t come with checks, however, holders can set up bill pay, ATM withdrawals, and mobile app usage.
Why we chose it: It has a low-cost trading platform known as Merrill Edge which allows for commission-free transactions. Also, you can talk to a finance expert who can help you with a customized account for your business in Colorado Springs.
- Low maintenance fees
- Easy Checking Account switching
- Great rewards and incentives for customers
- Poor APYs on Advantage Relationship and savings banking
- A Money market Account is unavailable
Key Bank is one of the largest banks in Colorado Springs and offers many options traditional banks can’t offer. This bank provides five checking accounts for customers and two of these accounts have a $0 monthly fee.
The remaining KeyBank accounts earn interest but the monthly maintenance fee might be waived depending on several factors.
Most of the accounts with KeyBank don’t require a deposit, even the ones that require a deposit, it is as low as $10. If you open their Hassle-free Checking account, overdraft fees are waived.
Why we chose it: KeyBank has many CD terms which are ideal for all business operations in Colorado Springs. For Relationship Reward members, they can get a promotional rate of 0.06% APY on their CDs.
- More than 27 branches in Colorado Springs
- 39,000 free ATMs available
- Simple basic and premium checking accounts
- Waivable Monthly charges
- Their APYs are unimpressive
U. S Bank is a top bank that provides comprehensive banking services and products. With more than 100 branches in the State alone, this is one of the top choices for small businesses in Colorado Springs.
Some of their services include credit and debit card access, easy loans, and an array of checking accounts with waivable maintenance rates.
You can open their Elite Money market account to take advantage of the many features it offers. Their online presence is strong as you can use their website or Dowland their mobile app for quick assistance.
Why we chose it: It is among our top picks because of its amazing bank app. With a rating of 4.7 stars out of 5, this is one of the best apps around. Also, you can easily link their bank app to credit score, Zelle, and Quickbooks.
- Customizable Credit and Debit cards
- Low opening balance requirements
- Excellent mobile app
- An overdraft can be as high as $36
Recommended Bank Account for Businesses in Colorado Springs
These are recommended because of their multiple branch locations, low opening fees, waivable monthly fees, structured account options, and excellent customer support. To grow your business, you will need to open a business bank account with these banks today in Colorado Springs.