When managing a small business, having the right banking partner can make all the difference. The best banks for small businesses should provide outstanding business checking and a range of products and services to help your business grow. Let’s look at the best banks for businesses in El Paso that meet these criteria.
Best Business Checking Accounts in El Paso
The best banks with the best checking accounts for businesses in El Paso are:
- FirstLight Federal Credit Union – Best for small business loans and lines of credit
- Chase Bank – Best for merchant services and payment processing
- WestStar Bank – Best for business checking accounts and online banking services
- BBVA USA – Best for cash management and treasury services
FirstLight Federal Credit Union is a leading financial institution in El Paso that provides various banking services to businesses of all sizes. The credit union is known for its personalized banking approach and focus on helping small businesses grow and succeed.
With FirstLight, businesses can take advantage of competitive rates and flexible terms on loans and lines of credit. The credit union also offers various other services, including business checking and savings accounts, online and mobile banking, and merchant services.
Why we chose it: FirstLight Federal Credit Union is an excellent choice for businesses in El Paso due to its focus on helping small businesses grow, competitive rates on loans and lines of credit, and commitment to providing exceptional customer service.
- Competitive rates and flexible terms on loans and lines of credit
- Personalized approach to banking and a focus on helping small businesses grow
- Offers a variety of other services, including business checking and savings accounts, online and mobile banking, and merchant services
- Limited physical branch locations, which may not be convenient for all businesses
- Limited availability of certain services, such as international wire transfers, compared to larger banks
Chase Bank is a well-known and trusted name in the banking industry, offering various services for businesses of all sizes. One area where Chase Bank particularly stands out is its merchant services and payment processing offerings. With Chase, businesses can accept credit and debit card payments in-store, online, or on the go with mobile processing options.
Chase also provides additional merchant services, including gift cards, loyalty programs, and fraud protection. In addition to these services, Chase Bank also offers a variety of business checking accounts, lending options, and cash management tools to help businesses manage their finances more efficiently.
Why we chose it: Chase Bank is a strong choice for businesses looking for reliable and efficient merchant services and payment processing solutions.
- Comprehensive merchant services for businesses of all sizes.
- Offers a wide range of payment processing solutions to meet the needs of various businesses.
- Offers advanced security features to protect your business and customers.
- Offers multiple integration options with other business tools and software.
- Fees can be high, particularly for smaller businesses.
WestStar Bank is an El Paso-based bank that offers a range of financial products and services designed specifically for businesses. The bank’s business checking accounts are particularly noteworthy, offering features such as free online banking, mobile banking, bill pay, low fees, and competitive interest rates.
WestStar Bank also offers various online banking services that make it easy for business owners to manage their finances from anywhere. These include online account opening, electronic statements, and cash management tools that allow businesses to automate their cash flow and streamline their operations.
Why we chose it: WestStar Bank is an excellent choice for businesses in El Paso that are looking for a reliable banking partner with a strong focus on customer service and convenient online banking options.
- Offers a variety of business checking accounts with low fees and competitive interest rates
- Provides online banking services, including account opening, electronic statements, and cash management tools
- Strong focus on customer service
- Conveniently located branches throughout El Paso
- Limited branch locations outside of El Paso
- Some services may not be available to all business types or sizes
- May not offer as many specialized business services as some larger bank
BBVA USA provides various online banking tools to help businesses manage their cash flow, including online bill pay, account transfers, and account alerts. In addition, BBVA USA offers several treasury management services, such as ACH and wire transfers, remote deposit capture, and positive pay.
Why we chose it: Businesses can also use their merchant services to accept credit and debit card payments. With over 600 branches and a robust online banking platform, BBVA USA is a convenient option for businesses in El Paso.
- Offers a range of cash management and treasury services to help businesses manage their finances effectively.
- Provides access to a large network of ATMs and branches across the country.
- Offers a mobile banking app with various features, including mobile check deposit, bill pay, and account management.
- Offers a variety of business credit cards with rewards and cash-back programs.
- Some customers have reported issues with customer service
Recommended Bank Account for Businesses in El Paso
We recommend FirstLight Federal Credit Union, WestStar Bank, Chase Bank, and BBVA USA as the best banks for businesses in El Paso.
Each of these banks has unique strengths in providing excellent business banking services such as small business loans, online banking, merchant services, cash management, and treasury services. Opening a business checking account with any one of these banks today will help your business grow and scale.