April 15, 2025

Best Banks for Small Business in Montana

By Alyssa Supetran
Read more about Best Banks for Business
Editorial Note: This content is not provided by the companies mentioned. Opinions expressed here are author's alone, and have not been reviewed, approved or otherwise endorsed by the companies.
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Need a bank to support your small business in Montana? Wells Fargo, Glacier Bank, and Bluevine are a few of the top options in the Treasure State.

Which bank is best for a small business account in Montana?
These are the 10 best banks for small business accounts in Montana:
  1. Glacier Bank for cash deposits
  2. Stockman Bank of Montana for local business bank
  3. Opportunity Bank of Montana for rental properties
  4. Wells Fargo for SBA loans
  5. U.S. Bank for national bank with free checking
  6. TrailWest Bank for customer service
  7. Capital One for unlimited fee-free transactions
  8. Bluevine for high-interest checking accounts
  9. Axos Bank for minimal fees
  10. Novo for comprehensive business tools

Like Montana's vast, open landscapes, a reliable bank can give you a sense of peace and freedom. Especially when it supports your business with accessible loans, smart tools, and great service.

Not sure which bank fits that description? Don't worry. This guide will walk you through Montana's top banks for small businesses.

Explore each option and see which one fits your needs.

10 Best Banks for Business Accounts in Montana

Whether you run a construction firm or a small retail store, these banks can help your business thrive in Montana's dynamic market.

Glacier Bank

Best for: Large cash deposits

Glacier Bank is a regional bank based in Kalispell, MT, with over 65 branches in Montana, mainly around Flathead and Gallatin counties. It's worth looking into if you want easy branch access.

Its business checking accounts have generous cash deposit limits, allowing up to $10,000 in fee-free cash processing per month.[1] It can be a good fit if your business handles a lot of cash.

Glacier Bank also has a decent selection of other business services, from business loans to merchant services. Get most of what you need to run your business from only one bank.

Need help with your account, but too busy during the day? No problem. You can still get live support even after regular business hours. Just call the hotline between 5 PM to 11 PM MST on weekdays or from 9 AM to 5 PM MST on weekends and select holidays.[2]

Glacier Bank has several online programs to help you learn better financial management. The topics are divided into playlists, so you can choose which subjects you want to learn first and then tackle them at your own pace.

Pros:

  • High free cash deposit limits on all checking
  • Good selection of business services
  • Extended customer support hours
  • User-friendly educational platform

Cons:

  • In-person applications only
  • Many banking fees like overdrafts and wires

Which banking service do you need for your small business in Montana?

Stockman Bank of Montana

Best for: Local business bank

Stockman Bank of Montana is a local family-owned bank based in Miles City, Montana, with 40+ physical branches across the state.

A local bank like Stockman can be a good option if you're not planning to operate outside Montana. Plus, as a local institution, it can have a deeper understanding of what locals need and deliver more personalized services.

For business checking, there are three accounts available. All of them have high limits for free monthly transactions, so they can be a good fit if your business has moderate-to-high monthly activity.

Additionally, its online business banking platform "eBiz" can make managing your business finances more convenient. Monitor transactions, organize business expenses, and pay bills anytime, anywhere. You can even export your data to apps like QuickBooks or Quicken for easier accounting and bookkeeping.

Stockman Bank also offers a variety of business insurance. The selection ranges from the usual general liability insurance to more specific ones like commercial auto insurance. It even offers business flood insurance—ideal for businesses located in Montana's flood-prone areas.

Pros:

  • Personalized services from a local bank
  • High monthly transaction limits on all checking
  • Feature-rich online banking platform
  • Variety of business insurance options

Cons:

  • In-person application only for business accounts
  • Many banking fees like overdrafts and wires

Opportunity Bank of Montana

Best for: Rental properties & agribusinesses

Opportunity Bank of Montana is a local full-service community bank based in Helena, Montana, with more than 25 local branches. If you're a landlord or a property manager in Montana, this bank may be worth looking into.

Its online rental property management platform "ZRent" can help keep everything running smoothly. Use it to keep track of each location, monitor their status, and collect rent. Meanwhile, your tenants can use it to set up automatic payments and even divide them among roommates for convenience and efficiency.

Opportunity Bank can also be a solid choice for agribusinesses because it offers tailored loans and deferred payment contracts just for this sector. These can reduce the financial burden on your business during volatile market conditions—a common issue in this industry due to Montana's unpredictable weather.

For business checking, you've got four options, including a specialty account for nonprofits. All accounts—except the Business Plus Checking—have low opening requirements and no monthly fees or minimum balance requirements.[3] You can manage your business finances without worrying too much about the costs.

Pros:

  • Convenient online rental property platform
  • Tailored financial solutions for agribusinesses
  • Multiple checking options available

Cons:

  • In-person application only
  • Low APYs for business accounts

You may need more capital as your business expands. This next option could help you achieve the growth you need.

Wells Fargo

Best for: SBA loans and extensive business services

A financial giant with a decent presence in Montana, Wells Fargo has 20+ physical branches in the state, mostly around Yellowstone County.

Wells Fargo offers a comprehensive suite of business products, including banking, insurance, and payroll services under one roof.

Need capital to start or grow your business? Wells Fargo is one of the country's top SBA 7(a) lenders. It can help you secure small business loans quickly with more favorable terms, such as longer repayment times or lower interest rates.

For business checking, the Initiate Business Checking Account is a great starter account for new businesses with less activity. As your business grows, you can easily upgrade if you need more features.

Pros:

  • Top SBA lender
  • Comprehensive small business services
  • Several business checking options

Cons:

  • Many banking fees like wires and overdrafts
  • Low interest rates for savings accounts

If you're a new business with inconsistent cash flow, this next bank with free checking can help keep more in your pocket.

U.S. Bank

Best for: National bank with free checking

U.S. Bank is another national bank with a smaller but still decent footprint in Montana. It has over 15 local branches in the state, mainly around Yellowstone County.

If you prefer a larger bank with fewer fees, U.S. Bank is an excellent choice. Its U.S. Bank Business Essentials has no maintenance monthly fee. The account come with convenient online and mobile banking tools, allowing you to monitor cash flow, transfer money, deposit checks, and more—whenever, wherever.

In addition to 4,700+ U.S. Bank ATMs across the country, you can also withdraw surcharge-free at approx. 40,000 MoneyPass® ATMs. So even if you don't live near a branch, ATMs are still convenient.

Pros:

  • Free checking option
  • Specialty checking accounts available
  • Extensive ATM network for no-fee withdrawals

Cons:

  • Limited fee-free transactions
  • Fewer features than others

TrailWest Bank

Best for: Customer service

TrailWest Bank is a local bank based in Lolo, Montana. It has over 10 branches across the state, and most of them are in Missoula. It can be worth checking out if you want a bank with great service.

Because of its strong focus on building lasting relationships, you'll enjoy a more personal banking experience, where staff may even know you by name. Plus, with support available until 9 PM MST on weekdays, you can get the help you need even if it's after regular business hours.

TrailWest Bank offers just one business checking account. It can still suit many small businesses, especially those with low transaction volume and simple banking needs. If you keep your transactions under 500 per month, you can avoid monthly fees. However, higher activity will result in additional charges.[4]

You might also benefit from TrailWest's business lending options, like SBA loans, business credit lines, and working capital loans. This makes it another great go-to if you need additional capital for your business.

In 2017, TrailWest Bank established the TrailWest Foundation to raise funds and help victims of Montana's worst fire in over 10 years. It matched every $1 donated by $4, raising almost $95,000 in just three months. The foundation continues to extend financial assistance to residents and business owners in need.

Pros:

  • Great customer service
  • Extended support hours
  • Good selection of business lending options
  • Strong community support

Cons:

  • Many fees like overdrafts and wires
  • Only in-person applications for business accounts

Don't need in-person banking? Consider an online account for more features and benefits.

Capital One

Best for: Unlimited fee-free transactions

Capital One is a popular hybrid physical and online bank with 263 branches across the country. Although it doesn't have physical branches in Montana, don't count it out just yet.

Capital One can be a great option for highly active businesses. It gives you unlimited free transactions for deposits, withdrawals, and money transfers. Process all business transactions without worrying about it becoming too costly.

Plus, enjoy free withdrawals at any of the over 70,000 no-fee Capital One, MoneyPass, and Allpoint ATMs nationwide.

In addition, Capital One has a wide selection of other banking products designed specifically with small businesses in mind. You can get business credit cards, savings accounts, and credit card processing services all from one bank.

Pros:

  • Unlimited free transactions
  • Extensive ATM network
  • Wide selection of small business banking products

Cons:

  • High waiver requirements for monthly fees

Bluevine

Best for: High-interest checking accounts

If you don't mind an online-only option, Bluevine is a great alternative to traditional brick-and-mortar banks. It stands out with its high-yield business checking and flexible lines of credit.

Even at the basic tier, you earn up to 1.5% APY on balances up to $250,000 with monthly eligibility requirements; 0% APY on balances over $250,000. There are no monthly fees, minimum balance requirements, or overdraft fees.

Plus, you can open up to five free sub-accounts with their own account numbers. This allows you to organize your funds better and set budgets for payroll, taxes, and vendor payments. You can even set custom rules and permissions for better security and account management.

All sub-accounts also earn interest up to the combined maximum.[5] You can keep your funds well-organized and still get the most out of your high-yield checking account.

Need extra funds to ride out a slow season or grow your business?
Bluevine offers a flexible business line of credit up to $250,000.[6] Decisions take as little as 5 minutes, so you can keep moving forward.

Pros:

  • High APYs on checking balances
  • Up to five sub-accounts
  • No monthly fees
  • Free withdrawals at approximately 40,000 MoneyPass ATMs

Cons:

  • No physical branches
  • Fees for cash deposits

Bluevine is not a bank.
It partners with Coastal Community Bank, Member FDIC, and a trusted network of program banks to provide FDIC insurance up to $3 million.

Axos Bank

Best for: Minimal fees

Axos is a full-service online bank, so it has no physical branches. But it's still a solid option for small businesses in Montana thanks to its lower fees.

The Basic Business Checking account has no monthly fees and gives you unlimited free transactions for deposits, withdrawals, and incoming wire transfers. You also get up to two outgoing domestic wire reimbursements monthly.

Need to withdraw cash? Use any ATM you want, with unlimited domestic ATM fee reimbursements nationwide. You can also make cash deposits at participating machines.

Axos business banking customer support is available Monday-Friday 6 a.m. to 6 p.m. PT (except federal holidays). Help is just a call or email away.

Pros:

  • Free business checking option
  • Minimal fees
  • Unlimited domestic ATM fee reimbursements
  • Dedicated customer support

Cons:

  • No physical branches
  • Limited integrations

Novo

Best for: Comprehensive business tools & eCommerce businesses

As a digital-only banking service, Novo has no physical branches. However, it can be a game-changer if your Montana-based business uses a lot of software.

It offers a high-tech and free business checking account that integrates with thousands of business tools, like Shopify, Gusto, and QuickBooks. You can streamline payment processing, organize transactions, automate payroll, and more, all from one place, making life as an entrepreneur much easier.

Additionally, its built-in invoicing feature lets you send unlimited custom invoices directly from the app or your online dashboard at no additional cost.

Novo also lets you create up to 20 Reserves and set aside funds for important things like taxes or new equipment.[7]

If you need quick working capital for your small business, Novo can provide up to $10,000 in funding that you can receive within a day.[8] It's a revolving access that continues to be available as long as you pay back what you owe monthly.

Pros:

  • No monthly fee
  • Integrates with thousands of business software
  • Unlimited free custom invoices
  • Up to 20 Reserves

Cons:

  • No cash deposits
  • Can’t send wire transfers

Novo is a financial technology company, not a bank. Banking services and FDIC insurance are provided by Middlesex Federal Savings, F.A.; Member FDIC.[9]

How to Choose the Right Bank for Your Business

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

  • Monthly fee & minimum balance
    Some banks require a minimum balance in your account. Otherwise, you'll pay a monthly fee. See if the requirement makes sense for your business. Some of our listed banks have no minimums and no monthly fees.

  • Monthly transaction limits
    Most business checking accounts cap the number of free transactions your account can do monthly. Then a fee is charged thereafter. 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
    Most of the banks on our list have a good number of branches and ATMs in Montana. However, 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.

    You can try online-only options like Bluevine or Axos if you don't need a physical branch. They usually offer better fees and higher rates than brick-and-mortar banks.

  • Small business loan options
    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
    You should 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 who can give you more tailored guidance.

  • Mobile app
    Many 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 helps save time and hassle when it comes to bookkeeping and tax reporting.

What's most important to you when choosing a small business bank?

Why Have a Business Bank Account

It's important to separate your business finances if you have an LLC or corporation in Montana. Doing so helps protect your personal assets if your business gets sued or has unpaid debt.

While this isn't a requirement for sole proprietors, having a separate business bank account will make your life easier.

Here's why you should have a business bank account:

  • It's easier to calculate business expenses during tax time.
  • The business looks professional to customers and vendors.
  • Pay bills and make purchases from your business funds.
  • Accept credit card payments from customers.
  • Apply for business loans.

What kind of bank account should I open for my small business?
Your business should have at least a checking account for day-to-day operations like paying bills, receiving deposits, and making purchases. If your business has extra funds, open a business savings account to save for emergencies and plans.

Our Methodology

To identify the best banks for small businesses in Montana, we first looked for banks with a strong presence in the state. So you'll be able to find branches or ATMs easily wherever you are.

Then, we looked into the banks' fees, account features, and other business services. We chose banks with a free business checking option or reasonable terms to waive the monthly fees.

We also looked for unique banking features that cater to the specific needs of small businesses. This includes built-in payment processing, cash flow tools, and generous cash deposit limits.

FAQs

Do I need a Montana ID to open a business bank account in Montana?
Yes, most banks in Montana require proof of residency to open a business bank account. You may need to present a Montana driver's license, business license, or business registration.

Should a Montana LLC have a separate bank account?
Yes, it should. A separate bank account can reinforce your Montana LLC's liability protection by proving you're not commingling funds.

What is the minimum to open a business account?
The minimum amount needed to open a business account can range from $0 to $1,000. It differs from bank to bank, so it's best to check with your preferred bank.

Can I use a regular bank account for my small business?
It's best to have a dedicated business bank account for your small business. Aside from liability protection, it also helps keep your finances organized.

Can I open a business bank account with bad credit?
Banks generally don't do a credit check when you open a checking or savings account. So, it's possible to open a business bank account, even with low personal credit.

Banks may still check your ChexSystems report. If you had problems with your personal account, that may affect your ability to open a business bank account. If you think that'll be an issue, consider banks that don't use ChexSystems.

Bottom Line

For Montana's local businesses, Glacier Bank is one of the best banks available due to its extensive local presence, high cash deposit limits, and extended support hours.

There are other great options as well. Opportunity Bank's unique features are great for rental properties and agribusinesses. Don't forget online-only choices like Bluevine, which often have lower fees and higher APYs than traditional banks.

No matter what type of bank it is, make sure to think about your business's unique requirements before deciding on one.

References

  1. ^ Glacier Bank. Business Checking., Retrieved 02/24/2025
  2. ^ Glacier Bank. After-Hours Support, Retrieved 02/24/2025
  3. ^ Opportunity Bank of Montana. Business Checking Accounts, Retrieved 02/25/2025
  4. ^ TrailWest Bank. Business Checking Accounts, Retrieved 02/26/2025
  5. ^ Bluevine. Use Sub-Accounts Effectively, Retrieved 02/23/2025
  6. ^ Bluevine. Line of Credit, Retrieved 02/23/2025
  7. ^ Novo. What are Novo Reserves?, Retrieved 10/03/2024
  8. ^ Novo. Novo Funding for Small Businesses, Retrieved 10/03/2024
  9. ^ Novo. Online Business Checking Accounts | Novo, Retrieved 10/03/2024

Alyssa Supetran is a research analyst at CreditDonkey, a credit card comparison and reviews website. Write to Alyssa Supetran at alyssa@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

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