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As a thriving hub for small and large enterprises, Phoenix offers a variety of banking options tailored to meet the financial needs of businesses. If you’re looking for the best banks for business in Phoenix, continue reading.
Best Business Checking Accounts in Phoenix
The best banks with the best checking accounts for businesses in Phoenix are:
- Chase Bank – Best for Its Business Resource Tools
- Bank of America – Best for Providing Business Support
- BBVA – Best for Free Unlimited Deposits and Withdrawal
- Arizona Bank & Trust – Best for Commercial Real Estate Financing
Chase Bank – Best for Its Business Resource Tools
Chase bank allows individual employees to manage debit, deposit, and ATM card settings, providing greater control and security. Through the mobile app, businesses can deposit checks, view account balances, pay bills, and make transfers, making banking more convenient. In addition, Chase Bank integrates with leading accounting software, such as QuickBooks, streamlining financial management processes.
Businesses also receive a free debit card, mailed within 10 business days of application approval, and can order physical checks depending on their type at an affordable cost. With Chase Bank’s commitment to providing a robust suite of business tools, businesses in Phoenix can rest assured that their financial needs will be easily met.
Why we chose it: We chose Chase Bank for its robust business resource tools, individual employee card controls, and integration with accounting software, making it a convenient and secure choice for businesses in Phoenix.
- Integration with leading accounting software like QuickBooks
- $300 bonus when you open an account
- Easy-to-waive monthly fee
- Built-in card acceptance with QuickAccept
- Monthly maintenance fees for some business accounts
- Some fees for services such as wire transfers and cash deposits
Bank of America – Best for Providing Business Support
Bank of America‘s dedicated small business team helps businesses make informed decisions. Bank of America provides tailored solutions to meet the unique needs of businesses in Phoenix. Their commitment to providing exceptional support extends to their mobile app, which allows businesses to deposit checks easily, view accounts, make transfers, and pay bills.
Bank of America also offers credit card processing and payroll services through ADP, making it a one-stop shop for businesses’ financial needs. With Bank of America’s focus on personalized support, businesses in Phoenix can receive the guidance they need to succeed.
Why we chose it: We chose Bank of America for its personalized support through a dedicated small business team and various financing options, including SBA programs.
- Dedicated small business team for personalized support
- Wide range of financing options, including loans, lines of credit, and SBA programs
- Offers credit card processing and payroll services through ADP
- Cash deposit fees charged per $100 over the monthly allowance
BBVA – Best for Free Unlimited Deposits and Withdrawal
With BBVA‘s Business Connect Checking account, businesses can make as many transactions as they need without worrying about additional fees. In addition, the account comes with a range of features designed to streamline banking, such as online and mobile banking, bill pay, and mobile check deposit.
BBVA also offers cash management tools to help businesses manage their finances more efficiently. While BBVA has a limited physical presence in Phoenix, its online and mobile banking options make it easy for businesses to access their accounts from anywhere.
Why we chose it: We chose BBVA for its Business Connect Checking account, which offers free unlimited deposits and withdrawals, making it an ideal option for businesses with high transaction volumes.
- Free unlimited deposits and withdrawals
- Cash management tools to help businesses manage their finances
- Online and mobile banking options for added convenience
- Limited physical locations in Phoenix
- No interest earned on the Business Connect Checking account
Arizona Bank & Trust – Best for Commercial Real Estate Financing
Arizona Bank & Trust offers commercial real estate loans, including construction, development, and permanent financing options. The bank’s team of experienced bankers provides tailored solutions to meet each client’s unique needs, ensuring that they get the best financing options available.
They offer competitive rates, flexible terms, and a streamlined loan process that helps businesses close their deals quickly.
Why we chose it: Arizona Bank & Trust offers premium services to business owners in the real estate sector.
- Specializes in commercial real estate financing
- Offers customized lending solutions
- Provides a variety of commercial banking services
- Has experienced commercial real estate lending professionals
- Limited branch network compared to larger banks
- May not have as many resources as larger banks
Recommended Bank Account for Businesses in Phoenix
Our recommended banks for businesses in Phoenix are Chase Bank, Bank of America, BBVA, and Arizona Bank & Trust. These banks offer excellent features, including free transactions, business support, unlimited deposits and withdrawals, and freebies. By choosing one of these banks, businesses can access modern banking tools and reliable customer service, which will ultimately help them achieve their financial goals.
