Best Banks for Small Business in Florida

Expires 1/16/2025

Member FDIC

Bank of America® Business Advantage Banking Checking Account - $200 Bonus Offer

The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
The offer is for new eligible business checking customers only.
Offer expires 12/31/2025.
To qualify, deposit $5,000 or more in New Money* directly into a new eligible Bank of America Business Advantage Banking account within thirty (30) days of account opening.
Maintain an average balance of $5,000 in that new Business Advantage Banking account during the Maintenance Period**.
Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
Additional terms and conditions apply. See offer page for more details.
*New Money is new funds deposited into your business checking account that are not transfers from other Bank of America deposit accounts or Merrill investment accounts.
** The Maintenance Period begins thirty-one (31) calendar days after account opening and ends ninety (90) calendar days after account opening.
Bank of America, N.A. Member FDIC

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Free Checking Account for Small Business Owners

Sign up in 3 minutes; no credit check
No account fees - $0 monthly fee, overdraft fee, foreign transaction fee, or ATM fees at approximately 40,000 locations
Automatic Savings
Get paid up to 2 days early

Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC

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Free Business Checking - Earn $300 Bonus

To earn the $300 bonus, customers must apply for a Bluevine Business Checking account anytime between now and 12/31/2024 using the referral code CD300.

After opening the account, customers must add funds within 30 days, then meet at least one of the following eligibility requirements every 30 days for the next 90 days from account funding:

Deposit at least $5,000 from eligible merchant services to your Bluevine account OR
Make at least $5,000 of outbound payroll payments from your Bluevine account using eligible payroll providers OR
Spend at least $2,000 with your Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®

Banking services provided by Coastal Community Bank, Member FDIC

Expires 12/31/2024

No-Fee Business Checking

$0 monthly service fee
$0 minimum opening deposit
Open up to 20 individual business checking accounts
Earn up to 3% APY with automated savings
Issue up to 50 Visa® debit cards to your team

Banking services provided by Thread Bank and Evolve Bank & Trust; Members FDIC.

10 Best Banks for Business Accounts in Florida

We looked at banks with low fees, good business accounts and services, and easy accessibility in Florida. Here are the top banks for small business owners in The Sunshine State.

Do I need a business bank account as an LLC in Florida?
LLCs in Florida are required to have a business bank account registered in its own name. An LLC legally separates you from your business, so there needs to be a clear divide between your personal and business finances.

Chase Bank

Best for: Local shops and restaurants

Chase Bank made our #1 spot before as a top bank for small businesses. They have over 400 physical locations across Florida.

Chase is a great option if you have a small local retail store, restaurant, or service business, and take credit card payments from customers.

It has a unique Chase Business Complete Banking account with credit card processing built in. No need for a separate merchant account.

And your funds from sales can be deposited the same day into your Chase checking account when you use QuickAccept. You don't have to wait for funds, so your cash flow keeps moving.

Chase is known for excellent customer service and business products. They also have an extremely popular lineup of business credit cards with good rewards.

In a JD Power 2023 U.S. Retail Banking Satisfaction Study, Chase ranked the highest in customer satisfaction among banks available in Florida.

Chase Business Complete Banking® - $300 Bonus

Click Here to Get Coupon

Expires 1/16/2025

Monthly Fee: $15 with ways to waive

Details

Pros:

Checking account with built-in payment processing
Highly rated mobile app
Unlimited electronic transactions
Offers promotions for new customers

Cons:

Minimum requirements to waive the monthly fees
Many banking fees like overdrafts and wires
Low interest rates

Chase Bank offers new customers bonuses for opening new business bank accounts. Be sure to check their promotions so you don't miss them.

Wells Fargo

Best for: Getting small business loans; extensive business services

Wells Fargo is one of the most recognized banks across America. This large national bank has over 500 physical locations across 180+ cities in Florida.

They offer very comprehensive business products, including banking, payroll services, tax programs, insurance, and more. It's got you covered if you're looking to get everything from one bank.

Another reason to consider Wells Fargo is if you need a loan to kickstart your business. 28% of Florida small businesses say that accessing capital or financing is their biggest challenge.^[1] As one of the top SBA 7(a) lenders, Wells Fargo can be a great resource.

Wells Fargo offers three different business checking accounts. The Initiate Business Checking Account is a good starter account, and you can upgrade as your business grows.

Wells Fargo: Initiate Business Checking

100 free transactions each fee period
$5,000 in cash deposits processed free each fee period
$25 minimum opening deposit
Waive the $10 monthly service fee by maintaining a $500 minimum daily balance or a $1,000 average ledger balance

Pros:

Easy to find a physical location
Active SBA lender
Offers comprehensive small business services
Different checking and savings accounts based on your needs

Cons:

Many banking fees
Low-interest rates for savings accounts

Bank of America

Best for: Flexbility; seasonal businesses

Bank of America is one of the largest brick-and-mortar banks in the United States. You can find over 440 Financial Centers across Florida, though mostly along the southeastern coast.

Their Business Advantage Banking is a flexible business checking account with two tiers. The basic tier is a great starting point as it has low requirements. You can easily level up when you need to.

Bank of America understands the unique challenges businesses face in Florida. For many businesses, slow-downs are common during the low-tourist and hurricane seasons. That's why BofA lets you switch between the tiers at any time based on your current needs.

The account also comes with smart cash management tools. The Cash Flow Monitor® lets you connect with apps like Quickbooks to get your business stats in one place. You even get cash flow projections to help you plan for those slower times.

Low Minimum Requirements

Member FDIC

Bank of America: Business Advantage Fundamentals™ Banking

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No fee for first 20 transactions per statement cycle
No fee for first $5,000 in cash deposited per statement cycle at an ATM or Financial Center

Minimum Deposit to Open: $100
Balance Requirement: None
Monthly Fee:
$16 or $0 – Great news, there's no monthly fee for the first 12 statement cycles. To avoid the Monthly Fee after, meet one of the following requirements each statement cycle:
- Maintain a $5,000 combined average monthly balance.
- Use your Bank of America business debit card to make at least $500 in new net qualified purchases.
- Become a member Preferred Rewards for Business.
APY: N/A

Pros:

Built-in cash management tools
Access to Small Business Specialists

Cons:

Less access to SBA loans

Truist Bank

Best for: Non-profit organizations

Truist Bank has a big footprint in Florida with over 400 branches in nearly 200 cities. It's even got locations in the Florida Keys.

They offer a few checking accounts for small businesses. If you're just starting out, their Simple Business Checking account is the best option as it has no monthly maintenance fee. But it's best if you do less than 50 transactions per month.

For non-profits, there's also a specially designed Community Checking account with $0 monthly fee. You get a larger number of free monthly transactions and unlimited cash processing.

Because Truist Bank was formed from a merger of two other banks (BB&T and SunTrust) in 2019, there have been some complaints regarding their customer service. This bank is still a good choice for customers who need access to a big bank in their area.

Member FDIC

Truist Bank: Business Checking Account - $400 Bonus

Expires 3/31/2025

Earn $400 when you open a new small business checking account and complete qualifying activities.
Choose between:
- Truist Simple Business Checking—Perfect if you're just starting out or have low transaction volume.
- Truist Dynamic Business Checking—With more perks as your balances grow—and a true, local partnership.
New business checking clients only
From October 1st, 2024 – March 31st 2025

Terms and Conditions

Offer Information: Open a new Truist Simple Business Checking or Dynamic Business Checking account online, phone, or in a branch from 10/1/2024 through 3/31/2025 and earn $400 by making Qualifying Deposits* of $2,000 or more into your new account within 30 days of account opening.

Enrollment in the promotion is required at the time of account opening using promo code SB24Q4BIZAFL to be eligible for a promotion reward. Refer to the Account Opening & Promotion Enrollment sections below for instructions.

*Qualifying Deposits for new business checking accounts exclude debit card credit transactions and NSF fee refunds. Deposits can be made on a one-time basis or cumulatively over the 30 days.

Offer Eligibility: You must be a new Truist business checking client. To be considered a new business checking client, the business cannot have an existing Truist business checking account or have closed a Truist business checking account within 180 days of the promotion start date (i.e., on or after 4/4/2024), with the same Taxpayer Identification Number (TIN), including but not limited to an Employer Identification Number (EIN). The business account holder must be 18 years or older at time of account opening. The account holder cannot be a non-resident alien. The business account holder must have a valid U.S. TIN. The business's physical address must be located in one of the following states: AL, AR, FL, GA, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV or DC.

Reward Processing: The reward will be deposited to the new business checking account within 4 weeks after the qualification requirements have been met and verified. The new business checking account must be open and in good standing with a balance of at least $0.01 at the time of Truist verification and until the reward is deposited to receive the reward. Only one newly opened business checking account per client is eligible to participate in this offer. Truist may report the value of any reward received to the IRS, as required by law. Any applicable taxes are the responsibility of the recipient.

Reward Forfeiture: Reward forfeiture will occur if: (1) the business checking account is changed to an account type not included in this offer, (2) the business checking account is closed prior to the reward being deposited, or (3) the new business checking account has a $0.00 or negative available balance at the time of qualification validation.

Other Terms: Minimum opening deposit is $100. A monthly maintenance fee is applicable for Truist Dynamic Business accounts whose combined average relationship ledger balance is less than $5,000; the monthly maintenance fee is waived for accounts with a combined average relationship ledger balance of $5,000 or more. See Truist's Business Deposit Accounts Fee Schedule for additional information.

The offer is non-transferable and may not be combined with any other offers. This offer is subject to change and may be discontinued at any time. Truist reserves the right, in its sole discretion, to disqualify any account if Truist suspects accounts are being opened for the purpose of exploiting this promotional offer. All promotional payouts will be processed no later than 9/30/2025, at which point this promotion and any related disbursements will be considered final, and no further disbursements will be made.

Online Account Opening & Promotion Enrollment Instructions: During the online application process, ensure the promo code SB24Q4BIZAFL is entered into the Promo Code field and accept the offer when presented. Accounts opened online without the Promo Code will not be eligible to participate in the offer.

Branch Account Opening & Promotion Enrollment Instructions: Visit your local Truist branch or call a Small Business representative and ask to open an eligible account and enroll you in the Truist Small Business Checking Affiliate Q4 2024 & Q1 2025 Offer using promo code SB24Q4BIZAFL. Once enrolled in the promotion, clients may receive promotional updates via the email address provided or by calling 800-709-8700.

Version 2 10172024 SB24Q4BIZAFL

Pros:

Free business checking option available
Business debit cards for you and your employees
Personalized business debit card

Cons:

Low number of free transactions per month
Low interest rates

Regions Bank

Best for: Many business checking options; commitment to community

Regions Bank is a Midwestern and Southern regional bank and has a decent footprint in Florida. They have over 270 physical locations across 145 cities, with more branches in Orlando, Miami, and Tampa.

For small businesses, Regions Bank offers a wide range of business checking accounts. Whether you're just starting out or a nonprofit organization, they have something for you.

They also have a special rewards programs, where you can earn cashback when you shop with participating merchants.

Overall, Regions has relatively low requirements to waive monthly fees, compared to some other traditional banks. It's a good option if you want a regional bank that gives back to the community.

Regions Bank is very committed to community development and supporting local businesses. In 2022, they provided over $1 billion in small business and farm lending and offered millions in resources to small businesses.^[2] Regions also supports small businesses by sponsoring entrepreneurship training and workshops.

Regions Bank: LifeGreen Business Checking®

$100 minimum opening deposit
150 fee-free transactions each statement period
$5,500 in cash deposits processed free each calendar month
Waive the $12 monthly fee with an average monthly statement balance of $2,500 (plus other ways)

Pros:

$100 to open a checking account
Budget and planning tools
QuickBooks integration
Supports local organizations

Cons:

Many other banking fees
Low interest rates for certain deposit accounts
Slow refunds and returns

PNC Bank

Best for: Low requirements; digital tools

After PNC's acquisition of BBVA in 2021, PNC Bank now has an even stronger presence in Florida. It now has close to 200 branches, but even if one isn't in your area, they have a highly-rated mobile banking app with all their services.

They offer a variety of business checking accounts for different sizes. The Business Checking Plus account, in particular, offers great value as it gives you more transactions and tools to help with your cash flow.

You only need $100 to open a new business checking account with PNC. The requirements to waive the monthly service fee are very reasonable. And it's even waived for the first three months after the account is opened.

Business owners can even get a personal Virtual Wallet with Performance Spend checking account with no monthly service fee. This is great if you want your personal and business checking with one bank.

PNC also has a built-in Cash Flow Insight® tool to help you make confident business decisions. You can see what you spend on, approve and pay bills, forecast upcoming transactions, and more.

PNC Bank: Business Checking Account - $1,000 Bonus

Open a new PNC Treasury Enterprise Plan or Analysis Business Checking account. Maintain an average ledger balance of $100,000 or more in your new checking account for each of the first three statement cycles.

This offer is only available to businesses with an annual revenue of less than $5 million. All existing business checking customers, including those who have closed an account in the past 90 days or has been paid a promotional premium in the past 12 months are not eligible for this offer. $1,000 bonus will be credited to your new business checking account within 90 days after all conditions have been met.

Expires 12/31/2024

PNC Bank: Business Checking Account - $500 Bonus

Open a new PNC Treasury Enterprise Plan or Analysis Business Checking account. Maintain an average ledger balance of $30,000 - $99,999 in your new checking account for each of the first three statement cycles.

This offer is only available to businesses with an annual revenue of less than $5 million. All existing business checking customers, including those who have closed an account in the past 90 days or has been paid a promotional premium in the past 12 months are not eligible for this offer. $500 bonus will be credited to your new business checking account within 90 days after all conditions have been met.

Expires 12/31/2024

Pros:

Opening deposit is only $100
Earn cash rewards at participating merchants
Built-in cash flow tools
QuickBooks, Xero, Intacct, and NetSuite integration

Cons:

No free business checking option
Low interest rates

PNC Bank also offers Merchant Services to help you with your payment processing. They have 24/7 customer service should you need it.

TD Bank

Best for: Customer service

TD Bank calls itself "America's Most Convenient Bank" due to its extended branch hours. Many of their branches are open on weekends and even some holidays. In Florida, you can find over 150 branches in nearly 100 cities.

And what's even more - it offers 24/7 live customer service. TD Bank is a convenient choice for small businesses since you'll never know if you might need help at odd times of the day.

However, TD Bank does not have a free business checking account. And the monthly fees and requirements to waive are higher compared to some other banks.

TD Bank offers integrated TD Online Accounting for $10/mo.^[3] You can send professional invoices, accept credit card payments, set up payment reminders, and more. You don't need any extra software; it's all in your online banking account.

Other than checking and savings accounts, TD Bank also offers merchant solutions both in-person and e-commerce. You can get same-day setup, so your business can start accepting payments right away.

TB Business Convenience Checking Plus

500 free transactions each month
$5,000 in cash deposits processed free each month
Waive the $25 monthly service fee by maintaining a $1,500 combined minimum daily balance with one TD personal checking account

Pros:

24/7 customer service
Personalized support from Small Business Specialists
TD Digital Wallet is accepted anywhere digital payments are accepted

Cons:

Many banking fees
Higher monthly fee than other banks

Fifth Third Bank

Best for: Best ATM access

Fifth Third Bank is a Midwest bank with over 150 locations in Florida. If you're in Orlando, Naples, or Tampa, you'll find the most branches.

However, Fifth Third partners with more than 40,000 fee-free ATMs. So you'll have more ATM options wherever you go, even when you travel out of Florida.

They offer three different checking accounts, including the Fifth Third Business Checking Account with no monthly fee or minimum balance needed. It includes 100 free transactions and up to $5,000 in cash deposits per month.

All accounts come with a debit card and access to online and mobile banking apps. Not only that, all of them have overdraft protection and access to discounted payroll solutions.

Fifth Third Business Checking Account™

$0 minimum deposit required to open
$0 monthly fee
No minimum balance
100 fee-free transactions each month
$5,000 in cash deposits processed free each month

Pros:

Free business checking option
Large fee-free ATM network
Mobile check deposits

Cons:

Higher balance requirements to waive monthly fees for higher-tier checking accounts
Low savings APY
Fewer available branches

Suncoast Credit Union

Best for: Free business checking account with generous transaction limits

You can also look into a credit union instead of a traditional bank. Credit unions are known to be more community focused and offer more personalized service and even lower fees.

Suncoast Credit Union is one of Flordia's largest credit unions. It's headquartered in Tampa and has over 75 service centers in 19 counties. It has the most locations in Hillsborough and Lee.

It offers a Business Smart Checking account with no monthly fee. You get unlimited electronic transactions and 200 free paper check transactions each month. That's really generous for a free account.

Plus, besides Suncoast ATMs, you can get free ATM access at thousands of CO-OP Network ATMs and McDonalds ATMs in select countries.

Suncoast Credit Union: Business Smart Checking

$50 minimum opening deposit
No monthly fee
No minimum balance requirement
Unlimited electronic transactions
200 free paper check transactions every month

Anyone who lives, works, attends school, or worships in the counties they serve in Florida is eligible to become a Suncoast member.

Pros:

Free business checking option
Large ATM network
Unlimited electronic transactions
Good APYs on certain savings accounts

Cons:

Limited branches
Limited business services compared to traditional banks

SouthState Bank

Best for: Business banking with a regional bank

SouthState Bank is a regional bank based in Winter Haven, FL. It has approximately 100 branches across 70 cities in Florida.

Their Small Business Checking account is their most popular business checking account. It has no monthly maintenance fee, making it just right for business owners just starting out. And you get the first 150 debit, credit, or deposit transactions per month free.

The online and mobile banking features are quite good too. You can set up bill pay, get spending reports, and download transactions directly into Quicken or Quickbooks.

SouthState Bank: Business Checking Account - $400 Bonus

Open a new qualifying business checking account. Use promo code SB400 at account opening. Within 90 days of account opening, make 15 or more debit card purchases, or a total of at least $5,000 ACH credits.

Pros:

Free checking option when enrolled in e-statements
Only $50 to open
SBA Loans

Cons:

Limited number of branches
Slow customer service

How to Choose the Right Bank for Your Business?

Before committing to a bank, it's best to be sure they have the features you're looking for. Consider these:

Monthly fee & minimum balance
Some banks require that you maintain a minimum balance in your account. If you don't, you'll have to pay a monthly fee. See if the requirement makes sense for your business.

There are banks on our list with no minimums and no monthly fee too.
Monthly transaction limits
Most business checking accounts cap the number of free transactions your account can do per month. Then a fee is charged for each one after that. Pick an account that can accommodate your transaction volume.
Cash deposits
Does your business deal with a lot of cash? Most accounts offer fee-free cash deposits up to a certain amount per month.
Accessibility
The banks on our list have a good number of branches and ATMs across Florida. It's still best to check the availability of your chosen bank in your area, and how convenient it would be for you on a day-to-day basis.
Small business loan options
You never know when you might need a loan to keep your business afloat or to expand. Sometimes, it's easier to get a loan from the same bank you use for checking, since you have an established relationship. See what loan options the bank has and their terms.
Customer support
It's best to be able to get help as soon as you need it. Get a sense of the bank's customer service for small business owners. Some banks have Small Business Specialists that can give you more tailored guidance.
Mobile app
Many small business owners bank on the go. Having a reliable mobile banking app is a must.
Software integration
Does the bank integrate with any accounting software, like QuickBooks, Freshbooks, or Xero? This will save you a lot of time and hassle when it comes to bookkeeping and tax reporting.

Free Business Checking - Up to 1.5% APY

1.5% APY on your balance up to $250,000 for customers that meet monthly eligibility requirements
$0 minimum opening deposit
$0 monthly service fee

Banking services provided by Coastal Community Bank, Member FDIC

Free Checking Account for Small Business Owners

$0 monthly service fees
$0 minimum opening deposit
No minimum balance requirement
No foreign exchange fee
Get direct deposits up to 2 days earlier

Lili is a financial technology company, not a bank. Banking services provided by Sunrise Banks N.A., Member FDIC

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Free Business Banking for the Self-Employed

Banking, taxes, bookkeeping – all in one place
Automatically find tax write-offs and save for taxes
Track and categorize expenses with custom rules
Free unlimited custom invoices
Easy sign up; no credit check

Found is a financial technology company, not a bank. Business banking services are provided by Piermont Bank, Member FDIC. The funds in your account are FDIC-insured up to $250,000 per depositor for each account ownership category. The Found Mastercard Business debit card is issued by Piermont Bank pursuant to a license from Mastercard Inc. and may be used everywhere Mastercard debit cards are accepted.