Whether you’re a seasoned entrepreneur or just starting, choosing the right bank for your business is crucial for long-term success. With so many options, finding the best bank for your specific needs can be overwhelming. But no need to worry, here are the best banks for businesses in Sacramento.
Best Business Checking Account In Sacramento
When looking for the top banks for checking accounts in Sacramento, here are some options:
- Wells Fargo – Best National Bank With Branches in Sacramento
- El Dorado Savings Bank – Best Regional Bank
- Banner Bank – Best Savings Account Rate
- Bank of the West – Best Customer Service
Wells Fargo stands out as the best national bank for businesses in Sacramento due to its extensive physical presence in and across the country. With over 70 branches in Sacramento and branches in 38 other states, Wells Fargo offers convenience and accessibility to business owners.
The bank also boasts an impressive number of ATMs in Sacramento and nationwide, outpacing its national competitors in branch count. Wells Fargo provides basic products such as checking and savings accounts, CDs, and IRAs, but its savings accounts do not offer competitive rates. However, their CD accounts offer higher rates with higher account balances.
Why we chose it: Wells Fargo is a reliable choice for businesses looking for a national bank with a strong presence in Sacramento.
- Large network of branches and ATMs in Sacramento and nationally
- Offers a range of products, including checking and savings accounts, CDs, and IRAs
- CDs offer higher rates with higher account balances
- Savings account APYs are not competitive
El Dorado Savings Bank is a well-established regional bank in the Sacramento area, with around 19 branches serving the local community. The bank also provides its customers with a broad ATM network that extends beyond California to Nevada. El Dorado offers several account options, including checking and savings accounts, money market accounts, CDs, and IRAs.
The bank’s checking accounts stand out as they come with either no monthly or waivable monthly fees, making them a cost-effective option for small businesses. Also, El Dorado Savings Bank provides online and mobile banking platforms, making banking more accessible and convenient for its customers.
Why we chose it: We chose El Dorado Savings bank because it offers various features, coupled with its excellent customer service for businesses in the Sacramento area.
- Offers a variety of account options, including checking and savings accounts, money market accounts, CDs, and IRAs.
- Offers five different checking accounts with no or waivable monthly fees.
- Has a physical presence in both California and Nevada.
- Provides online and mobile banking services for convenience.
- Limited branch locations outside of the Sacramento area.
- Limited account options compared to larger national banks.
Banner Bank offers some of the best savings account rates in Sacramento, making it the ideal option for those looking to grow their money. Its Connected Savings account has a low minimum deposit requirement and offers a competitive 0.02% APY, while its money market accounts provide even higher rates.
With a minimum deposit of $100, you can earn at a 0.10% APY, and higher deposits can lead to even greater rates. Banner Bank’s highest money market rate of 0.30% APY is especially attractive for those with larger deposits.
Why we chose it: Banner Bank offers competitive rates to business owners.
- Banner Bank offers competitive rates for its money market accounts.
- There are no monthly maintenance fees for its basic savings account, Connected Savings.
- Banner Bank has a user-friendly online and mobile platform.
- There are limited physical branches and ATM locations
Bank of the West has one of the best customer services due to its outstanding live chat option, which provides users with immediate assistance from company representatives. In addition, the bank offers excellent online and mobile banking services, making it convenient for customers to manage their accounts remotely.
Although Bank of the West has a smaller physical presence in Sacramento with only 14 branches, its online and mobile banking services make up for this limitation. The bank also provides various account options, including checking, savings, CDs, and IRAs, giving customers flexibility in managing their finances.
Why we chose it: Bank of the West’s exceptional customer service and convenient online services make it a top choice for businesses in the Sacramento area.
- Excellent customer service, including an online live chat option
- Easy-to-use online and mobile banking platforms
- Wide range of financial products and services, including checking and savings accounts, loans, and investment options
- Limited physical presence
Recommended Bank Account for Businesses in Sacramento
If you’re a business owner in Sacramento looking for a reliable bank to help you achieve your financial goals, Wells Fargo, El Dorado Savings Bank, Banner Bank, and Bank of the West are all excellent options to consider.
Whether you need extensive branch access, competitive savings rates, or exceptional customer service, these banks have you covered. We highly recommend exploring their products and services to find the perfect fit for your business needs.