We compared dozens of banks and chose these eight as the best banks in Florida for a small business. To qualify for this list, banks had to have physical locations in the state of Florida. Then, we ranked them based on the quality of the business checking products offered, including other business products and services that are crucial to the success of your small business.
Here are the top banks in Florida for small businesses, each spotlighting an economic region of the state, with links directly to the bank’s website.
- Featured bank in the Southeast: Chase Member Federal Deposit Insurance Corp. (FDIC)
- Featured bank in East Central: Bank of America Member FDIC
- Featured bank in Tampa Bay: Truist Bank Member FDIC
- Featured bank in the Southwest: Fifth Third Bank Member FDIC
- Featured bank in South Central: Wells Fargo Member FDIC
- Featured bank in the Northwest: Regions Bank Member FDIC
- Featured bank in North Central: TD Bank Member FDIC
- Featured bank in the Northeast: PNC Bank Member FDIC
In addition to the banks above that have physical branch locations in the state of Florida, there are other banks and financial technology companies (fintechs) that provide outstanding business banking products that are available nationwide. Those providers are listed below, with links directly to the provider websites.
- U.S. Bank Member FDIC : Best overall for free checking and businesses with low transaction volumes
- Bluevine Provider is a financial technology (fintech) platform backed by and FDIC-insured through a supporting bank partnership with Coastal Community Bank. : Best overall fintech for high APY, line of credit, and international payments
- Relay Provider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with Thread Bank. : Best for businesses needing multiple accounts and debit cards
- Mercury Provider is a fintech platform backed by and FDIC-insured through supporting bank partnerships with Choice Financial Group and Evolve Bank & Trust. : Best for tech companies and startups needing additional FDIC insurance
- Novo: Best for businesses needing fast access to Stripe payouts
See our buyer’s guide to the best online business banks for a complete list of online-only business banking providers.
Below is a map of Florida’s economic regions. Use the drop-down to choose your region to go directly to that section of this guide. If you are unsure of the region where your business is located, you can use our map by clicking the header below.
Best Banks for Small Business in Florida at a Glance
Southeast Business Bank: Chase
What We Like
- $300 bonus when you open an account
- Monthly fee is waivable on three checking options
- Built-in point-of-sale (POS) options
Drawbacks
- Only 20 free transactions at basic checking level
- ATM fees not reimbursed
- Low savings interest rates
Regions With Physical Locations
(Click map for Chase’s location finder)
- Built-in card acceptance with QuickAcceptSM via the Chase Mobile® app
- Ability to manage debit, deposit, and ATM card settings for individual employees
- Ability to deposit checks, view account balances, pay bills, and make transfers through the mobile app
- Integration with QuickBooks and other leading accounting software
- Free debit card, mailed within 10 business days of application approval
- Physical checks’ costs, depending on type ordered
- Chase Payment Solutions
- Live customer support online or in branch during business hours
- Other products include business savings, certificates of deposit (CDs), lending products, credit cards, merchant services, and collection services
| |
|---|---|
Required Opening Deposit | None |
Required Balance Minimum | None |
Transaction Limit Before Fees | 20, then 40 cents per transaction |
ACH Fees | $2.50 per item for first 10 payments & 15 cents for succeeding payments 1% of transaction value for same-day ACH or real-time payments or $25 per transaction, whichever is less |
Monthly Fees | $15; waivable if conditions are met |
Conditions to Waive Monthly Fee |
|
Domestic Wire Transfer Fees | Incoming: $15 Outgoing: Up to $35 |
International Wire Fees | Incoming: $15 Outgoing: Up to $50 |
ATM Fees | $3 per transaction at any non-Chase ATM, plus ATM operator fees |
Cash Deposited | $2.50 per $1,000 after you deposit $5,000 in a billing cycle |
APY | N/A |
When to Choose Chase
- You seek an outstanding entry-tier account: Chase is one of the best small business banks in Florida. Its Business Complete Banking account is ideal for customers with lower amounts of monthly transactions or limited cash deposits. You get up to 20 free monthly transactions and up to $5,000 in free cash deposits.
- You have a cash-reliant business: Chase offers a premium account, Chase Platinum Business Checking, which lets you deposit cash fee-free up to $25,000 monthly and offers 500 free monthly transactions. See our Chase Platinum Business Checking review to learn about its features.
- You want full-service business banking: Chase offers outstanding business savings, lending products, credit cards, and lines of credit with Chase. It also provides commercial banking products through J.P. Morgan, such as commercial real estate (CRE) loans, payment services, cash flow management, and merchant services.
Mobile App Rating: Its app has decent ratings on the App Store[2] (4.8) and Google Play[3] (4.4) out of more than 7 million combined reviews. Some users were pleased with the app’s outstanding layout and solid security, while some complained about loading issues and receiving too many ads.
East Central Business Bank: Bank of America
What We Like
- Bonus of up to $500, plus ongoing rewards if qualifications are met
- Free digital tools to track business performance
- 200 free transactions per month with basic business checking
Drawbacks
- Cash deposit fees charged per $100 over monthly allowance
- Doesn’t offer ATM fee reimbursements
- Requires a $100 opening deposit
Regions With Physical Locations
(Click map for Bank of America’s location finder)
- Ability to deposit checks, view accounts, make transfers, and pay bills via the mobile app
- HR services and payroll services through ADP
- Cash Flow Monitor®, a cash management tool, lets you connect accounting, analytics, and payroll apps to help you make business decisions
- Ability to check your business credit score through a partnership with Dun & Bradstreet (See our guide to Dun & Bradstreet Credit Report to learn more)
- Free debit card
- Integrations with QuickBooks and Zelle
- Customer service during business hours in branch and via phone or social media messages
- Merchant services provided through the Bank of America in-house merchant platform and available to business customers enrolled in Business Advantage 360
- Other products include business savings, CDs, lending products, and financial analysis through Merrill Financial Advisor
 | |
|---|---|
Required Opening Deposit | $100 |
Required Balance Minimum | None |
Transaction Limit Before Fees | 20, then 45 cents per item |
Monthly Fees | $16; waivable if conditions are met |
Conditions to Waive Monthly Fee | One of three ways to waive fee:
|
Domestic Wire Transfer Fees | $15 for incoming; $30 for outgoing |
International Wire Transfer Fees | $15 for incoming; $45 for outgoing |
ATM Fees | None at over 15,000 ATMs nationwide; $2.50 per transaction on out-of-network ATMs |
Cash Deposited | Up to $5000 per month free, then 30 cents per $100, per statement cycle |
APY | N/A |
When to Choose Bank of America
- You want an entry account with lots of free transactions: Bank of America’s entry-level business checking account, Fundamentals Business Checking, allows you up to 200 transactions and $7,500 in cash deposits for free each month. It has a $16 monthly fee, which can be waived.
- You require access to a physical location: According to the website Bank Branch Locator,[1] Bank of America has the third most branch locations in Florida, operating 547 offices in 210 cities across the Sunshine State.
- You seek great ongoing rewards: Bank of America’s ongoing rewards include a cash bonus offer of $200 when you open a business checking account by December 31, 2024, deposit $5,000 in new money, and maintain that balance for 90 days.
Mobile App Rating: Bank of America’s app is very good, with users rating it 4.8 stars on the App Store[4] and 4.6 stars on Google Play.[5] Users who liked the app said it was easy to navigate, while many were unhappy with the recent update, specifically regarding bill pay, where payment details were left out.
Tampa Bay Business Bank: Truist
What We Like
- No monthly fees for Simple Business Checking
- Waivable fees for Dynamic Business Checking (free for the first 65 days)
- Online account opening
Drawbacks
- No annual percentage yield (APY)
- Low free transaction limit for Simple Business Checking
- Branches in only 17 states and Washington, D.C.
Regions With Physical Locations
(Click map for Truist’s location finder)
- Free personalized debit card
- Different reward levels (Core, Plus, and Preferred) offering discounted bank services under Dynamic Business Checking account
- Online and mobile banking
- Financial Wellness program for employees
- First four incoming domestic wires under Dynamic Business Checking are free
- $25 discount on first check order
- Specialty business checking accounts
 | |
|---|---|
Required Opening Deposit | $100 |
Required Balance Minimum | None |
Transaction Limit Before Fees | |
Monthly Fees | None |
Domestic Wire Transfer Fees | Incoming: $12 to $65 Outgoing: $12 to $65 |
International Wire Transfer Fees | Incoming: $20 to $75 Outgoing: $36 to $75 |
ATM Fees | None at Truist ATMs, $3 at domestic non-Truist ATMs & $5 for international |
Cash Deposited | Up to $2,000 per month free, then 3/10ths of a cent per $1 per statement cycle (30 cents per $100) |
APY | N/A |
When to Choose Truist
- You want excellent business checking for free: Truist’s entry-level account, Simple Business Checking, has no monthly fees. You get up to 50 total combined transactions and $2,000 in cash deposits for free each month.
- You need access to a physical location: According to the website Bank Branch Locator,[1] Truist has 446 branch offices in 196 cities in Florida, the second most branches offered by any bank in the state.
- You require a higher-tier or nonprofit account: Truist offers Dynamic Business Checking, with up to 500 transactions and $25,000 in cash deposits for free each month. This account is free for the first 65 days and then has a $20 waivable fee. For nonprofit businesses, Truist offers the best nonprofit business checking account on the market. It has no limit on cash deposits and no monthly fees.
Mobile App Rating: Truist has an excellent mobile app, rated 4.8 on the App Store[6] and 4.7 on Google Play[7] with over 1 million reviews. While feedback is mostly positive, some users had issues with mobile check deposits, logging in, and crashes.
Southwest Business Bank: Fifth Third Bank
What We Like
- No monthly service fee for basic-tier account
- $5,000 monthly cash deposit allowance
- Cardless ATM feature using the mobile app to withdraw cash
Drawbacks
- Bank locations in 11 states only
- High monthly maintenance fees for higher-tier checking accounts
- Steep wire fees
Regions With Physical Locations
(Click map for Fifth Third’s location finder)
- Business debit card
- Digital banking
- Overdraft solutions
- Merchant services
- Analyzed checking accounts, public funds accounts, and Interest on Lawyer Account (IOLA)/Interest on Trust Accounts (IOTA)
- Business savings accounts, CDs, and credit cards
- Small Business Administration (SBA), real estate, and term loans and lines of credit
- More than 40,000 fee-free ATMs at Fifth Third Bank, Allpoint, and selected 7-Eleven networks
| |
|---|---|
Required Opening Deposit | None |
Required Balance Minimum | None |
Transaction Limit Before Fees | 100 per month, then 50 cents per item |
Monthly Fees | None |
Domestic Wire Transfer Fees | Incoming: $15.50 to $30 Outgoing: $25 to $45 |
International Wire Transfer Fees | Incoming: $15.50 to $30 Outgoing: $45 to $85 (United States dollars/USD) $50 (FX) |
ATM Fees | None at more than 40,000 Fifth Third, Allpoint, and selected 7-Eleven ATM network partners, $3 for nonnetwork ATMs, and $5 for international |
Cash Deposited | Up to $5,000 free, then 3/10ths of a cent per $1 |
APY | N/A |
When to Choose Fifth Third Bank
- You need business checking with no monthly fees: Fifth Third Bank charges no monthly fees on its entry-level Business Checking Account. You get up to 100 transactions and $5,000 in cash deposits for free each month.
- You want to build a strong banking relationship: Fifth Third Bank encourages business customers to use multiple services by waiving monthly fees. Higher-tier checking account fees are waived not only by maintaining a certain balance across 5/3 Bank accounts but with certain levels of credit card usage or by having a business loan or line of credit with the bank.
- You require access to a physical location: According to the website Bank Branch Locator,[1] Fifth Third Bank operates 173 branches in 71 cities across the state of Florida.
Mobile App Rating: Fifth Third Bank has a strong mobile app, with users rating it 4.7 stars out of 5 on both Apple[8]and Google[9] platforms from more than 500,000 reviews. Users who left recent written reviews praised the app’s ease of navigation. However, some users wanted additional features, such as tab creation for easy management of funds.
South Central Business Bank: Wells Fargo
What We Like
- Waivable monthly fees
- Strong branch presence with more than 4,500 bank locations
- Access to more than 12,000 ATMs
Drawbacks
- Requires a minimum opening deposit of $25
- Only 100 free transactions for basic Initiate account
- No sign-up bonus for new accounts
Regions With Physical Locations
(Click map for Wells Fargo’s location finder)
- Free debit card
- Customized cards and checks
- Ability to deposit checks, pay bills, and view balances through the mobile app
- Online and mobile banking
- Earn interest with a Navigate Business Checking
- Fraud protection controls
- Features merchant services, including POS solutions
| |
|---|---|
Required Opening Deposit | $25 |
Required Balance Minimum | None |
Required Balance Minimum to Waive Monthly Fee | $500 minimum daily balance or $1,000 average ledger balance |
Transaction Limit Before Fees | 100 monthly, then 50 cents per transaction |
ACH Fees/Direct Pay | $1.50 per item, same day ACH |
Monthly Fee | $10; waivable |
Domestic Wire Transfer Fees | $0 for nonanalyzed and $15 for analyzed incoming; up to $40 for outgoing |
International Wire Transfer Fees | $0 for nonanalyzed and $15 for analyzed incoming; up to $40 for outgoing |
ATM Fees | None at 11,000-plus ATMs nationwide; $3.00 per out-of-network transaction |
Cash Deposited | Up to $5,000 free per month, then 30 cents per $100, per statement cycle |
APY | N/A |
Wells Fargo Initiate Business Checking Terms
When to Choose Wells Fargo
- When you need access to a physical location: According to the website Bank Branch Locator,[1] Wells Fargo offers the most branch locations in Florida. Wells Fargo has 483 offices in 183 cities.
- When you want an account with an easily-waivable monthly fee: Wells Fargo’s entry-level Initiate Business Checking has a $10 monthly fee, which can be easily waived if you have at least a $500 minimum daily balance or average ledger balance of at least $1,000.
- When you need excellent full-service business banking: Wells Fargo offers various business products and services, including savings, CDs, lending, credit cards, and merchant services. It also offers 24/7 fraud monitoring and zero-liability debit card protection.
Mobile App Rating: Wells Fargo’s app is excellent, receiving 4.9 in the Apple App[10] and 4.8 on Google Play[11] stores based on more than 11 million reviews. While some had occasional glitch issues, most users raved that the app continues to be secure, reliable, and feature-rich.
Northwest Business Bank: Regions Bank
What We Like
- Waivable monthly fees
- Cashback on eligible debit card purchases
- Free budgeting tools
Drawbacks
- Locations only in 15 states
- No online account opening
- Fee charged for early account closing
Regions With Physical Locations
(Click map for Regions Bank’s location finder)
- Free and customizable Regions Business Visa Debit Card that earns cash back rewards
- Ability to transfer funds, pay bills, and deposit checks via mobile app
- Online and mobile banking
- Access to Regions iTreasury® Small Business cash flow management platform
- Access to My GreenInsights budgeting tool
- Fraud prevention tools
- Discounted safe deposit boxes
- Integration with Quicken and QuickBooks
 | |
|---|---|
Required Opening Deposit | $100 |
Required Balance Minimum | None |
Transaction Limit Before Fees | 150, then 50 cents per item |
Monthly Fees | $12; waivable |
Domestic Wire Transfer Fees | Incoming: $15 Outgoing: $25 |
International Wire Transfer Fees | Incoming: $18 Outgoing: $45 |
ATM Fees | None at Regions Bank ATMs, $3 at non-Regions Bank ATMs (plus operator fees), $5 for international ATMs |
Cash Deposited | Up to $5,000 free per month, then 25 cents per $100 |
APY | N/A |
When to Choose Regions Bank
- You want an entry-level account with a low waivable fee: Regions Bank’s entry-level account, LifeGreen Business Simple Checking, only offers 50 transactions and $5,000 in cash deposits for free each month. However, the waivable monthly fee is just $12. That is one of the lowest waivable monthly fees on this list, and you need to make just $1,000 in purchases on your business debit or credit card in a month to waive it.
- You seek access to a physical location: According to the website Bank Branch Locator,[1] Regions Bank has 273 offices in 144 cities in Florida, the fifth most branches offered by any bank in the state.
- You need unique business products like safe deposit boxes: Regions Bank offers 30% off of one safe deposit box per account. You can earn an additional 10% off with auto-debit from a Regions checking or savings account. The bank also offers a nonprofit checking account, including savings, money market, CDs, credit cards, and lending products, specifically, business loans, lines of credit, Small Business Administration (SBA) loans, equipment financing, and priority banking for preferred business customers.
Mobile App Rating: Regions Bank’s mobile app is highly rated, earning 4.8 stars on the App Store[12] and 4.8 stars on Google Play[13] out of more than 500,000 ratings. Some reviewers mentioned issues with check deposit functionality, while others expressed satisfaction after many years of using the app.
North Central Business Bank: TD Bank
What We Like
- Waivable monthly fees except for Business Simple Checking
- Fee-free transaction limit up to 200 for Business Simple Checking
- Multiple small business checking products
Drawbacks
- No free business checking account
- TD branches only in Washington, D.C., and 16 states
- International wires are expensive
Regions With Physical Locations
(Click map for TD Bank’s location finder)
- Free Visa debit card
- Online and mobile banking
- Ability to deposit checks via mobile, transfer funds, and view online statements
- Online invoices can be sent via TD Online Accounting
- Three additional accounts are free with TD Business Premier Checking
- Integrations with TD Online Accounting, Quicken, QuickBooks, Paycor, TD Merchant Services, Clover Station, Clover Mini, Clover Flex, and Clover Go
- Customer service 24/7 toll-free; press 0 to speak to a real person
- Other products include lending, credit cards, CDs, savings, and money market
 | |
|---|---|
Required Opening Deposit | $25 |
Transaction Limit Before Fees | 200, then 75 cents per transaction |
Monthly Fees | $10 |
Required Balance Minimum to Waive Monthly Fee | Cannot waive fee |
Domestic Wire Transfer Fees | Incoming: $15 Outgoing: $30 |
International Wire Fees | Incoming: $15 Outgoing: $50 |
ATM Fees | Free at TD ATMs, $3 for non-TD ATMs, plus operator fees |
Cash Deposit Fees | Up to $5,000 per month free, then 30 cents for every $100 |
APY | N/A |
When to Choose TD Bank
- You seek multiple business checking options: TD Bank offers four business checking options. While you can’t waive the monthly fee on the entry-level account (Business Simple Checking), the other three checking options allow you to meet the criteria to waive the fee.
- You need access to a physical location: According to the website Bank Branch Locator,[1] TD Bank has 167 branch locations in 100 cities across the state.
- You want a wide variety of business products and services, including SBA loans: TD Bank offers business savings, money market, and CD products, in addition to business credit cards and lending. Business loan products include healthcare practice financing, lines of credit, and small business loans, such as SBA loans and CRE loans.
Mobile App Rating: TD Bank’s app is solid, with 4.8 stars on the App Store[14] and 4.0 stars on Google Play[15] from about 330,000 combined ratings. Users appreciated the TD ASAP feature, which allows you to reach a customer service representative. Others encountered login issues using FaceID.
Northeast Business Bank: PNC Bank
What We Like
- Waivable $12 monthly fee; no monthly fee for the first three months from account opening
- Up to 150 free transactions for Business Checking; 500 for Business Checking Plus
- $200 welcome bonus for Business Checking and Business Checking Plus
Drawbacks
- No free checking account
- Hefty wire fees
- Banking is limited to 29 states and Washington, D.C.
Regions With Physical Locations
(Click map for PNC Bank’s location finder)
- Free Visa debit card with cash back rewards
- Ability to deposit checks, pay bills, and view balances through the mobile app
- Online and mobile banking
- No setup fee for overdraft protection
- Integrates with QuickBooks, Xero, Intacct, and NetSuite
- Features PNC Merchant Services®, including ecommerce and in-person solutions
- Cash Flow Insight® tools help manage cash flow
| |
|---|---|
Required Opening Deposit | $100 |
Required Balance Minimum | None |
Transaction Limit Before Fees | 150 per month, then 50 cents per transaction |
Monthly Fees | $12, waivable |
Domestic Wire Transfer Fees | Incoming: $15 Outgoing: $95 |
International Wire Transfer Fees | Incoming: $20 Outgoing: $135 |
ATM Fees | $3 per transaction at any non-PNC Bank ATM |
Cash Deposited | Up to $5,000 per month free, then 30 cents per $100, per statement cycle |
APY | N/A |
When to Choose PNC Bank
- You want to combine checking with credit cards or merchant services: PNC Bank’s Business Checking has a $12 monthly fee that can be waived with a $500 average monthly collected balance or by meeting specific business credit card or merchant service linking and usage requirements. The account gives you 150 transactions and $5,000 in cash deposits for free each month.
- You need access to a physical location: According to the website Bank Branch Locator,[1] PNC Bank operates 185 branch offices in 102 cities across Florida. This is critical as you must visit a branch location to open an account.
- You seek to earn a welcome bonus: Opening a new PNC Business Checking or Business Checking Plus account lets you earn a cash reward between $400 and $1,000 if you meet qualifying activities. Higher-tier accounts equate to higher cash bonuses. That’s why we included PNC in our list of the best business account promotions and offers.
Mobile App Rating: The bank’s app is solid, earning 4.8 on the App Store[16] and 4.5 on Google Play[17] out of a combined 1.8 million ratings. Reviewers praised the app for its simplicity, convenient Zelle integration, and ease of use. However, others complained about the required constant password resets.
How I Evaluated the Best Small Business Banks in Florida
I considered over 50 Florida-based banks when compiling this guide. When I evaluated the best banks for small businesses in Florida and the alternatives, we considered the following:
- Banks with physical locations in Florida
- Monthly fees, if any, and how easily they are waived
- Required opening deposit and balance minimums
- Transaction limits before fees
- ACH and wire transfer fees
- ATM fees and availability
- Cash deposit fees and availability
- Interest yield, if applicable
- Other checking account perks
- Software integrations
- Other business services provided
- Lending products provided
- Customer service
- Customer reviews
Once you decide on a business bank, check out our guide on how to open a business bank account for a list of the documents you will need to open your new account.
Other State-specific Buyer’s Guides
In addition to this guide of the best small business banks in Florida, Fit Small Business has published three other state-specific buyer’s guides. If you operate businesses in one of these states in addition to Florida, check out that guide for local recommendations:
- Best Banks for Small Business in New York
- Best Banks for Small Business in California
- Best Banks for Small Business in Texas
For recommendations outside of these state-specific guides, check out our list of the best banks for small businesses.
Frequently Asked Questions (FAQs)
It will depend on your business needs. If you prioritize in-person banking, you can open an account with Chase, which has the most accessible branches in 48 states. However, if you seek to earn a high APY and are satisfied with online-only banking, Bluevine is a great choice.
To open an LLC bank account in Florida, you will be required to present the following:
- Articles of organization
- Other business documents, such as business licenses
- Employer identification number (EIN)
- Government-issued identification
Startups need to keep their personal finances separate from their business funds. It’s advisable to open a business checking account that lets you write checks under your business name, use a debit card for business purchases, and establish your business credit.
Bottom Line
All of the banks on this list can help your Florida-based business at all stages of your company’s growth. Whether you are just getting started and need entry-level accounts or an established business needing full-service banking, these eight banks have you covered. And if you prefer an online-only bank or a fintech, our five options in this article can meet your current and future business needs.
User review references:
[1]Bank Branch Locator
[2]App Store (Chase)
[3]Google Play (Chase)
[4]App Store (Bank of America)
[5]Google Play (Bank of America)
[6]App Store (Truist)
[7]Google Play (Truist)
[8]App Store (Fifth Third Bank)
[9]Google Play (Fifth Third Bank)
[10]App Store (Wells Fargo)
[11]Google Play (Wells Fargo)
[12]App Store (Regions Bank)
[13]Google Play (Regions Bank)
[14]App Store (TD Bank)
[15]Google Play (TD Bank)
[16]App Store (PNC Bank)
[17]Google Play (PNC Bank)
[2]App Store (Chase)
[3]Google Play (Chase)
[4]App Store (Bank of America)
[5]Google Play (Bank of America)
[6]App Store (Truist)
[7]Google Play (Truist)
[8]App Store (Fifth Third Bank)
[9]Google Play (Fifth Third Bank)
[10]App Store (Wells Fargo)
[11]Google Play (Wells Fargo)
[12]App Store (Regions Bank)
[13]Google Play (Regions Bank)
[14]App Store (TD Bank)
[15]Google Play (TD Bank)
[16]App Store (PNC Bank)
[17]Google Play (PNC Bank)
