4 Best Banks for Businesses in Portland in 2024

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    Every business owner knows that using the right bank is crucial to their success. The right bank can offer a wide range of products and services that help businesses manage their finances more efficiently and effectively. From business checking accounts to lines of credit and cash management services, the right bank can make a big difference in a business’s financial health. Continue reading to know the best banks in Portland

    Best Business Checking Accounts in Portland

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

    U.S. Bank logo

    U.S. Bank – Best National Bank With Branches in Portland

    U.S. Bank is one of the largest national banks with branches in Portland, and it offers various services for businesses. From basic checking and savings accounts to loans and lines of credit, U.S. Bank has the resources to meet the needs of small and large businesses alike. The bank’s online and mobile banking platforms are easy to use and offer a range of features that make managing finances more efficient. 

    U.S. Bank also has a dedicated team of business banking specialists who can help businesses navigate financial challenges and plan for growth. 

    Why we chose it: We chose this bank because it offers exceptional customer service to its customers, and its customers can easily access the bank.

    • Large network of branches and ATMs
    • Comprehensive suite of business banking products and services
    • Online and mobile banking tools for easy account management
    • Competitive interest rates on deposit accounts
    • Higher fees compared to some local banks and credit unions
    • Limited availability of small business loans and credit lines
    Umpqua bank

    Umpqua Bank – Best Regional Bank

    Umpqua Bank is a regional bank based in Portland, Oregon, that serves the Pacific Northwest region. The bank is committed to providing financial solutions to businesses of all sizes, from small to larger corporations. One of the bank’s strengths is its focus on technology, with a suite of online and mobile banking tools that make managing finances more efficient. 

    Umpqua Bank offers various business banking services, including checking and savings accounts, loans and lines of credit, and merchant services. Additionally, the bank provides specialized services for industries such as healthcare, agriculture, and professional services. 

    Why we chose it: Umpqua Bank has been recognized for its commitment to customer service and community involvement. It is an excellent choice for businesses looking for a local banking partner.

    • Excellent customer service, with a focus on building relationships with customers.
    • A range of business checking and savings accounts, including options for nonprofits and public entities.
    • Competitive interest rates on savings and money market accounts.
    • Access to online and mobile banking and a network of branches and ATMs in Oregon, Washington, California, Idaho, and Nevada.
    • Limited branch locations outside of the Pacific Northwest may not be convenient for businesses with operations in other regions.
    • Some fees may apply to specific business banking services, such as wire transfers or cash deposits.
    Banner Bank logo

    Banner Bank – Best Customer Service

    Banner Bank provides high-quality banking services, including checking and savings accounts, loans, and credit cards, to individuals and businesses alike. What sets Banner Bank apart from other banks is its exceptional customer service, with a dedicated team always ready to assist customers with their banking needs. 

    The bank’s online and mobile banking platforms are user-friendly and provide customers with easy access to their accounts, making banking with Banner Bank convenient and hassle-free. Banner Bank is committed to building long-term customer relationships, providing customized financial solutions to meet their needs.

    Why we chose it: Banner Bank’s emphasis on customer service and its range of financial products and services make it an excellent choice for businesses.

    • Exceptional customer service
    • Wide range of banking products
    • Convenient online and mobile banking
    • Limited branch locations
    • Limited ATM network
    WaFd Bank logo

    WaFd Bank – Best Savings Account Rate 

    WaFd Bank offers some of the best savings account rates in the Portland area, making it an ideal choice for businesses looking to save money and earn a competitive return on their savings. With a minimum balance requirement of just $25, businesses can open a savings account and earn interest immediately.

    Also, WaFd Bank offers a range of other business banking products and services, including checking accounts, loans, and credit cards, making it a one-stop shop for all of a business’s banking needs. WaFd Bank prides itself on its commitment to excellent customer service. Its online banking platform and mobile app make it easy for businesses to manage their finances. 

    Why we chose it: WaFd Bank’s competitive rates and comprehensive business banking solutions make it a top choice for businesses in the Portland area.

    • High savings account rates compared to many other banks.
    • No monthly maintenance fees on checking and savings accounts.
    • Easy-to-use mobile and online banking tools.
    • Limited branch network, primarily located in the western United States.
    • Some fees may apply for certain account services.

    Recommended Bank Account for Businesses in Portland

    When it comes to the best banks for businesses in Portland, U.S. Bank, Umpqua Bank, Banner Bank, and WaFd Bank are among the top contenders.

    These banks offer a wide range of financial services and products specifically tailored to the needs of businesses, such as business checking and savings accounts, merchant services, business loans, and lines of credit.