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Running a business in San Jose can be difficult and having the appropriate banking partner is important if you want to build a successful business.
The top picks provide the additional functionalities you need to help you build and run your business. Read on to get more information about our favorite choices in this elaborate summary.
Best Business Checking Accounts in San Jose
After careful consideration, we have chosen 5 banks that have the best checking accounts for businesses in San Jose. They include:
- Lili – Best for Its General Features
- Bluevine – Best for Gaining Interest
- Relay – Best for Digital Business Banking Services
- Found – Best for Self-employed People
- U.S. Bank – Best for Getting Bonus Offers
Lili – Best for Its General Features
Lili is a banking experience that’s made especially for freelancers and owners of small businesses. The absence of monthly service fees and minimum balance makes it easy to start up. Also, it has inbuilt financial management tools that can help you save some time and money when it’s time to pay taxes.
Why we chose it: Having a Lili account grants you access to use the best-ever freelancer debit card.
- Inbuilt financial management tools for handling the finances of your business.
- Requires no monthly balance or minimum deposit.
- Accepts all types of businesses – sole proprietors, single-member LLCs, S-Corporations, limited liability partnerships, general partnerships, and multi-member LLCs.
- Can’t be used for wire transfers.
- Offers low limits for withdrawals, transfers, and deposits.
Bluevine – Best for Gaining Interest
Bluevine is an online business bank that provides many business services. When you activate the Bluevine business checking account, you’re assured of a good offer that comes with minimum fees and a great interest rate. Apart from the checking account, this online bank provides other services, including a chain of credit.
Why we chose it: Bluevine offers you minimum fees and a great interest rate.
- Zero service fees monthly.
- Easy and free online signup that requires zero minimum deposit.
- Limitless transactions.
- No cash-back rewards.
- Offers only online banking.
- Charges up to a $4.95 fee for depositing cash.
Relay – Best for Providing Digital Business with Banking Services
Relay is a Toronto-based fintech company that was established in 2018, and provides banking services for digital businesses. Being a company that doesn’t offer banking services, it partners with Thread Bank, Member FDIC which provides banking services.
You stand to get 50 virtual or physical Visa debit cards and 20 checking accounts. On the platform, you’re able to accept payments through Shopify, Square, and Stripe. You’re also able to grant role-based access.
Why we chose it: Relay offers banking services that are specifically for bookkeepers and accountants.
- Zero balance requirements and monthly service fees.
- Ability to deposit mobile checks.
- Ability to own multiple accounts and grant role-based permission.
- Doesn’t allow cash deposits.
- Limited customer support.
Found – Best for Self-employed People
Found is a fintech company that serves self-employed people and freelancers. Business owners can make use of their debit cards and business checking accounts that are provided by Piermont Bank, Member FDIC.
Found provides bookkeeping, invoicing, and tax tools services. It also links with other well-known business and banking platforms such as Uber, QuickBooks, Square, Stripe, eBay, Cash App, Venmo, Lyft, and PayPal.
Why we chose it: Found offers free ACH transfers without limits on direct deposits.
- Signup is free and there are zero maintenance fees.
- No credit checks.
- Limitless transactions.
- Instant withdrawals are not free.
- Invoices paid with debit or credit card attract charges.
U.S. Bank – Best for Getting Bonus Offers
U.S. Bank is an American financial institution that provides a wide range of business checking account options and a host of other banking services. The bank has more than 2,000 branches, which makes it a great choice for business owners who tend toward a personalized banking experience.
The institution provides wholesome mobile banking tools too, in case you want to explore them. There are also many checking account packages made for all sizes of businesses that you can choose from.
Why we chose it: U.S. Bank stands out for us with its $500 bonus offer.
- You can manage your accounts using the mobile app of the U.S. Bank.
- Account checking packages are available with minimal to zero maintenance fees.
- U.S. Bank boasts over 2,000 branches, making it easily accessible for account opening and use.
- You pay an extra fee per transaction when you reach your monthly limit.
- No interest is accrued on basic business checking accounts.
Recommended Bank Accounts For Businesses in San Jose
Our choice banks for businesses in San Jose are Lili, Bluevine, Relay, Found, and the U.S. Bank. In addition to having fascinating features such as low to zero maintenance fees, most of these banks offer good interest rates for even basic business checking accounts.
With the presence of these banks that offer premium banking services for businesses, you can establish and run your business successfully while having strong affiliations with your business suppliers. So, if you have a business or are planning to run a business in San Jose, it’s advisable to choose from these our top bank picks to hold your hands and guide you to success in your financial journey.
