In this guide, we chose the best banks for small businesses in Texas. They offer great business checking with other excellent business products and services. Some of these providers have physical locations in the spotlighted region while others are online-only financial technology (fintech) companies offering accounts you can open from anywhere in the state.
Here are the best banks for small businesses in Texas, each spotlighting an economic region of the state, with links directly to the bank’s website:
- Featured bank in the Metroplex: Chase Member Federal Deposit Insurance Corp. (FDIC)
- Featured bank in Alamo: Bank of America Member FDIC
- Featured bank in Upper East: Capital One Member FDIC
- Featured bank in Gulf Coast: Comerica Bank Member FDIC
- Featured bank in Central Texas: PNC Bank Member FDIC
- Featured bank in South Texas: Frost Bank Member FDIC
- Featured bank in Capital: Centennial Bank Member FDIC
- Featured bank in Upper Rio Grande: First National Bank Texas Member FDIC
- Featured bank in West Texas: Truist Member FDIC
- Featured bank in Southeast: Regions Bank Member FDIC
- Featured bank in Northwest: Wells Fargo Member FDIC
- Featured bank in High Plains: Prosperity Bank Member FDIC
In each section, we also include a list of other business banks in that economic region, with a link to our review of the banks.
In addition to the banks above that have physical branch locations in the state of Texas, there are other banks and 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 fintech platform backed by and FDIC-insured through a supporting bank partnership with Coastal Community Bank. : Best overall fintech for interest-earning account with best line of credit and international payments
- Relay Provider is a fintech platform backed by and FDIC-insured through supporting bank partnerships with Evolve Bank & Trust and Thread Bank. : Best for businesses that need 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
- Found Provider is a fintech platform backed by and FDIC-insured through a supporting bank partnership with Piermont Bank. : Best digital-only provider for self-employed professionals
See our buyer’s guide to the best online business banks for a complete list of online-only business banking providers.
Earn 4.25% APY with Bluevine Premier and 2.0% APY for Bluevine Standard on qualifying balances. |
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Economic Regions of Texas
Below is a map of Texas’ 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 Texas At a Glance
Account Name | Monthly Fee | Free Monthly Transaction Limit | Free Monthly Cash Deposit Limit | ||
---|---|---|---|---|---|
Metroplex | Business Complete Banking | $15; waivable | 20 | $5,000 | |
Alamo | Fundamentals Business Checking | $16; waivable | 200 | $7,500 | |
Upper East | Business Basic Checking | $15; waivable | No limit | $5,000 | |
Gulf Coast | Basic Business Checking | None | 75 | $2,500 | |
Central Texas | Business Checking | $12; waivable | 150 | $5,000 | |
South Texas | Business Checking | $10; waivable | 200 | $5,000 | |
Capital | Business Checking | 375 | $7,500 | ||
Upper Rio Grande | Business First Checking | $15; waivable | 50 | $5,000 | |
West Texas | Simple Business Checking | None | 50 | $2,000 | |
Southeast | LifeGreen Business Simple Checking | $7; waivable | 75 | $2,500 | |
Northwest | Initiate Business Checking | $10; waivable | 100 | $5,000 | |
High Plains | Small Business Checking | $10; waivable | 200 | Undisclosed | |
Metroplex Business Bank: Chase
What We Like
- $300 bonus when you open an account
- Easily-waived monthly fee on three checking options
- Built-in POS options
Drawbacks
- Only 20 free transactions at basic checking level
- ATM fees not reimbursed
- Low savings interest rates
- Manage debit, deposit, and ATM card settings for individual employees
- Deposit checks, view account balances, pay bills, and make transfers through the mobile app
- Integrates 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 Merchant Services
- 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 |
Automated Clearing House (ACH) Fees | $25 for first 25 items per month, 15 cents per item above 25 per month, $2.50 return fee |
Monthly Fees | $15; waivable if conditions are met |
Required Balance Minimum to Waive Monthly Fee | $2,000 minimum daily balance, or one of four other ways |
Domestic Wire Transfer Fees | Up to $35 for outgoing wires, up to $15 for incoming wires |
International Wire Fees | Up to $50 for outgoing wires, up to $15 for incoming wires |
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
With nearly 500 branch locations in the state of Texas alone, Chase is our choice for the best business bank in Texas. Chase has branch locations in all 12 of Texas’ economic regions.
Its entry-level account, Business Complete Banking, is a perfect option for businesses 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.
For larger businesses, Chase offers two additional business checking products. Its highest-tier account, Platinum Business Checking, is the best premium business checking account on the market. You can compare those three accounts in our review of Chase Business Checking.
Chase has all the full-service business banking products and services your company would need, regardless of the size of your business. You can get 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 loans, payment services, cash flow management, and merchant services.
Its app is solid, with decent ratings on Google Play (4.4) and App Store (4.8) out of more than 6 million combined reviews. Some users were pleased with the app’s functionality being similar to the desktop platform while some had issues with the user interface and speed.
Other Business Banks in the Metroplex
Alamo 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
- Deposit checks, view accounts, make transfers, and pay bills via the mobile app
- Credit card processing 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
- Allows you to check your business credit score through a partnership with Dun & Bradstreet
- Free debit card
- Integrations with QuickBooks, TurboTax, and Zelle
- Customer service during business hours in branch and via phone or social media messages
- Merchant services available through Expensify
- 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 | 200, then 45 cents per item |
Monthly Fees | $16; waivable if conditions are met |
Required Balance Minimum to Waive Monthly Fee | One of three ways to waive fee:
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Domestic Wire Transfer Fees | Fee varies |
International Wire Transfer Fees | Fee varies |
ATM Fees | None at over 17,000 ATMs nationwide; $2.50 per transaction on out-of-network ATMs |
Cash Deposited | Up to $7,500 per month free, then 30 cents per $100, per statement cycle |
APY | N/A |
When To Choose Bank of America
With over 300 branch locations across Texas, Bank of America is another excellent option for a business bank in Lone Star State. Even if you aren’t near a branch, you can open a business checking account through the Bank of America website.
The bank offers two great checking options. The entry-level 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.
The higher-tier Business Advantage Relationship Banking account raises those limits to 500 transactions and $20,000 in cash deposits. It has a $29.95 monthly fee, which can also be waived.
Bank of America also offers ongoing rewards, including $500 in combined cashback rewards and statement credits with its business checking and credit card products. The bank also offers preferred rewards for business, including 25% to 75% bonus rewards on credit cards and 5% to 20% higher interest rate on Business Advantage savings accounts.
Bank of America’s app is highly rated, with 4.6 stars on Google Play and 4.8 stars on the App Store. Users who like the app said it was easy to navigate while those with a more negative experience complained of crashes.
Other Business Banks in Alamo
Upper East Business Bank: Capital One
What We Like
- Unlimited transactions
- Easy ATM access
- Low or no monthly fee
Drawbacks
- Requires $250 opening deposit
- Accounts cannot be opened online
- Account doesn’t earn interest
- Pay bills, track accounts, transfer funds, and deposit checks with the mobile app
- Integrates with Xero and other top accounting software
- Free overdraft protection when linked to another small business deposit account
- Free debit card
- Physical checks; cost based on type ordered
- Connect with business payment solutions
- 24/7 support by phone; in-branch support during business hours
- Other products include lending products, credit cards, and Unlimited Business Checking
Required Opening Deposit | $250 |
Required Balance Minimum | None |
Transaction Limit Before Fees | No limit |
Monthly fees | $15; waivable if conditions are met |
Required Balance Minimum to Waive Monthly Fee | $2,000 30- or 90-day average balance |
Domestic Wire Transfer Fees | $25 per outgoing wire, $15 per incoming wire |
International Wire Fees | $40 per outgoing wire, $15 per incoming wire |
ATM Fees | None at more than 70,000 Capital One, MoneyPass, and Allpoint ATMs nationwide |
Cash Deposited | Up to $5,000 per month free, $1 for every $1,000 |
APY | N/A |
*Capital One currently requires that you visit a branch to complete an application for a business checking account. There are branch locations in Virginia, Texas, New York, New Jersey, Maryland, Louisiana, and Washington, D.C. |
When To Choose Capital One
With branch locations in the eastern part of the state of Texas, Capital One is a great choice for a business checking provider for companies in that area. You must visit a branch location to open a Capital One business checking account, so if you are outside of the region highlighted above, you’ll need to choose an alternative.
Capital One offers a plethora of free everyday transactions, including unlimited free deposits, withdrawals, and transfers—except for international wires, cashier’s checks, and other services.
While the company charges a $15 monthly fee on its Business Basic Checking, it is very waivable. To waive that fee, you need a $2,000 30- or 90-day balance average. Customers with higher balances can choose Capital One’s Unlimited Business Checking.
If you need credit products for your business, Capital One has a wide range of options. The bank offers several lending products, including real estate term loans, lines of credit, and SBA loans. Also, Capital One business credit cards are outstanding.
Business support products offered by Capital One include merchant services, escrow fund management, commercial banking, and business-to-business (B2B) credit programs.
Capital One’s mobile app is highly rated, earning 4.6 on Google Play and 4.8 on the App Store. While some people think it is better for credit card users than checking customers, many raved about the notification system built into the app.
Other Business Banks in the Upper East
Gulf Coast Business Bank: Comerica
What We Like
- No monthly fee for Basic Business Checking
- $5,000 fee-free cash deposit limit for mid-tier accounts
- QuickBooks and Quicken integration
Drawbacks
- Only operates in Arizona, California, Florida, Michigan, and Texas
- Extra $6.95 fee for online bill pay
- Poor user reviews for banking services and mobile app
- Scalable Checking Accounts
- Comerica Business Debit Card
- Comerica Web Banking
- Comerica Web Bill Pay
- Mobile Banking
- Savings accounts, money market accounts, lending products
Required Opening Deposit | $50 |
Required Balance Minimum | None |
Transaction Limit Before Fees | 75 per month |
Monthly fees | None |
Domestic Wire Transfer Fees | Incoming: $12 Outgoing: $27 |
International Wire Transfer Fees | Incoming: $15 Outgoing: $48 |
ATM Fees | None at Comerica ATMs; $2 for nonnetwork usage. Third-party fees may apply. |
Cash Deposited | Up to $2,500 per month |
APY | N/A |
When To Choose Comerica Bank
For small Texas-based businesses looking for free business checking, Comerica Bank is a good choice. The bank’s entry-level account, Basic Business Checking, has no monthly fees. You get up to 75 free monthly transactions and up to $2,500 in free cash deposits monthly, which is slightly better than Truist’s entry-level account.
Comerica has branch locations in the Metroplex, Capital, Gulf Coast, and Alamo regions. You will need to visit a branch or call a toll-free number to begin the process of opening an account, so if you are not located in one of those regions, you may want to consider an alternative.
In addition to its entry-level account, Comerica offers three other business checking options that scale up as your business grows. Monthly fees for those accounts increase as you go, but they can either be waived or offset with earnings credits.
If you need business loans, Comerica Bank offers a wide variety of lending options, including lines of credit, term loans, SBA loans, and commercial real estate loans.
One major drawback is the bank’s mobile app, especially the iOS version. Comerica Bank’s mobile app is poorly rated on the App Store, earning 1.9 stars from about 370 reviews. It is better reviewed on Google Play, earning 3.5 stars from more than 4,000 reviews.
It should be noted that it is highly unusual for the iOS rating to be both lower and less reviewed than the Android version. It may be indicative of Apple users preferring a web-based interface with the bank rather than an app. If you are an Apple user, be sure to ask about the mobile banking experience before opening an account.
Other Business Banks in the Gulf Coast
Central Texas 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; $500 for Treasury Enterprise Plan
Drawbacks
- No free checking account
- Hefty wire fees
- Banking is limited to 28 states and Washington, D.C.
- Free Visa debit card with cash back rewards
- 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
Another traditional bank with locations across the state of Texas is PNC Bank. It has the fourth most branches in the state and is a great choice for larger businesses with high transaction or cash deposit volumes. The widespread branch access is important, as you must visit a branch location to open a business account.
Its entry-level account, 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.
PNC Bank also offers two higher-tier accounts for businesses that exceed those thresholds. The mid-tier Business Checking Plus offers 500 free transactions and $10,000 in free cash deposits monthly while the high-tier Treasury Enterprise Plan offers 2,500 free transactions and $50,000 in free deposits. The requirements for waiving monthly fees increase with each account.
The bank’s app has a solid rating, earning 4.5 on Google Play and 4.8 on the App Store out of a combined 1.6 million ratings. Some people complained that recent Android updates have caused the app to crash repeatedly. Others thought they may have sacrificed usability with recent cosmetic updates.
Other Business Banks in Central Texas
South Texas Business Bank: Frost Bank
What We Like
- Multiple ways to waive monthly fees
- High free transaction limits
- Highly rated mobile banking app
Drawbacks
- Limited branch locations in Texas regions
- High required balances to waive monthly fees
- No APY
- Free debit card
- Online and mobile banking
- Multiple business checking accounts
- Debit card alerts
- Business savings accounts, credit cards, CDs, Small Business Administration (SBA) loans, lines of credit, term loans, and insurance
- Merchant services and treasury management services
- No ATM fees at Frost ATMs and several retail chains and terminals
Required Opening Deposit | $50 |
Required Balance Minimum | None |
Transaction Limit Before Fees | 200 nonelectronic items plus unlimited electronic deposits and withdrawals |
Monthly Fees | $10; waivable |
Domestic Wire Transfer Fees | Incoming: $15 Outgoing: Cost varies |
ATM Fees | None at Frost ATMs, Pulse POS terminals, H-E-B and Circle K locations statewide, plus CVS and Walgreens stores in Dallas and Tarrant County, $2 at non-Frost ATMs plus operator charges |
Cash Deposited | Up to $5,000 per month free, then 25 cents per item |
APY | N/A |
When To Choose Frost Bank
For small businesses looking for a high number of monthly transactions, Frost Bank is a great option. The bank’s entry-level account, Business Checking, offers up to 200 non-electronic items and unlimited electronic deposits and withdrawals for free each month. You also get up to $5,000 in free cash deposits per month.
That account comes with a $10 monthly fee, but it is waivable with at least a $1,500 minimum daily balance, with a $15,000 combined average daily balance across accounts, with $1,000 in net spending posted per statement cycle, or by having a Frost Business Checking Plus account under the same business name.
If you need additional free transactions, the Frost Business Checking Plus account bumps the number up to 500 free transactions per month and up to $20,000 in free cash deposits. It has a waivable $30 monthly fee.
Frost Bank also offers full-service business product offerings, including savings, CDs, credit cards, business investments, and insurance. It also has business term loans, lines of credit, and SBA loans.
There are Frost Bank locations in seven of the 12 Texas economic regions, largely in the central and southern parts of the state.
Another area where Frost Bank shines is its mobile app. It has earned 4.9 stars on both App Store and Google Play out of more than 52,000 reviews. While there are a few users who mentioned issues with viewing multiple accounts through the app, overall, the reviews are overwhelmingly positive.
Other Business Banks in South Texas
Capital Business Bank: Centennial Bank
What We Like
- Offers unlimited transactions
- Low monthly fees
- $7,500 free monthly cash deposit limit
Drawbacks
- Limited locations; available in Arkansas, Florida, Alabama (southern area), and New York
- $100 deposit fee
- No free wire transactions
- Free instant issue business debit card
- Multiple business checking account options
- Reimburses ATM fees upon presenting an ATM receipt within 60 days of the transaction
- Online and mobile banking
- Basic bill pay
- Overdraft privilege for eligible business checking accounts
- SBA loans and United States Department of Agriculture (USDA) programs
- Has business savings, business money market accounts, business cards, and other lending products
Required Opening Deposit | $100 |
Required Balance Minimum | None |
Transaction Limit Before Fees | 375, then 40 cents per item |
Monthly Fees | None; $10 fee is charged if the balance drops below $0 on any day during the statement cycle |
Domestic Wire Transfer Fees | Incoming: $15 Outgoing: $25 |
International Wire Transfer Fees | Incoming: $15 Outgoing: $50 |
ATM Fees | None at Centennial Bank, $2 at non-Centennial or non-Publix ATMs and $5 for international. Third-party fees may apply. |
Cash Deposited | Up to $7,500 free, then 20 cents per $100 |
APY | N/A |
When To Choose Centennial Bank
Another bank that offers a large volume of free transactions monthly is Centennial Bank. While the entry-level account (Business Checking) offers up to 375 free transactions each month, the bank’s other four business checking options provide unlimited free transactions.
All five of Centennial Bank’s accounts provide up to $7,500 in free cash deposits monthly. They also all require a $100 deposit to open an account.
Business Checking is free as long as you keep a positive balance in your account. Centennial Bank will charge $10 if your account drops below $0 on any day of the statement cycle.
For businesses that are looking to recover from some financial difficulties, Centennial Bank offers Business Opportunity 100. That account charges a $12.95 monthly fee which is not waivable.
Branch locations are available in northern Texas and the Capital and Alamo regions.
Centennial Bank also offers business savings and money market accounts to go with its checking offerings. The bank also has business credit cards and lending products, including SBA and USDA loans.
The iOS version of the bank’s app is well-rated while the Android version is not as highly rated. The app has 4.8 stars on the App Store and 3.2 stars on Google Play from nearly 30,000 combined reviews. Users of the Android version complain about constant app crashes forcing users to uninstall and reinstall the app.
Other Business Banks in Capital
Upper Rio Grande Business Bank: First National Bank Texas
What We Like
- No account opening deposit and required minimum balance
- Waivable monthly fee for Business First Checking
- No monthly fees and transaction limit for nonprofits
Drawbacks
- Low free transaction limit
- Low APY for interest-earning commercial accounts
- No online account opening option for business checking accounts
- Free business debit card
- Digital banking for small and commercial businesses
- Multiple business checking account options, including interest-earning products
- Business credit cards, commercial money market accounts, SBA loans, commercial loans, and business insurance
Required Opening Deposit | None |
Required Balance Minimum | None |
Transaction Limit Before Fees | 50 per month |
Monthly Fees | $15; waivable |
Domestic Wire Transfer Fees | Incoming: $10 Outgoing: $25 |
International Wire Transfer Fees | Offered at select locations; contact the bank for details |
ATM Fees | None at Gold Key ATMs®, $2.50 for non-Gold Key® ATMs, and $3 for international |
Cash Deposited | Up to $5,000 per month free |
APY | N/A |
When To Choose First National Bank Texas
In operation for more than 120 years, the First National Bank Texas is a great option for companies looking for a traditional regional bank. It has the fifth most branch locations in the state, with shy of 300. It also has locations in all 12 economic regions in the state. This is great as you will need to visit a branch to open a business account.
The entry-level checking option, Business First Checking, has a $15 monthly fee, which is waivable with at least a $250 minimum daily balance or 10 card purchases in a statement cycle.
You get up to 50 transactions and $5,000 in cash deposits for free each month. The bank also offers three higher-tier accounts and a nonprofit account if those are a better fit for your business. See our review linked above for details on those accounts.
The bank’s mobile app is very good. It has 4.6 stars out of 5 on Google Play and 4.7 stars on the App Store out of more than 110,000 combined ratings. Many have been pleased with recent updates that make remote banking more convenient than going into a branch. Others complained about some user interface issues that could be improved.
Other Business Banks in Upper Rio Grande
West Texas 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 APY
- Low free transaction limit for Simple Business Checking
- Branches in only 15 states and Washington, D.C.
- 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 or $50 discount on first check order
- Specialty business checking accounts
Required Opening Deposit | $100 |
Required Balance Minimum | None |
Transaction Limit Before Fees | 50 total combined transactions, then 50 cents per transaction |
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 $0.003 per $1 per statement cycle (30 cents per $100) |
APY | N/A |
When To Choose Truist
Truist is another excellent choice for companies looking for a traditional bank with free business checking. Its entry-level account, Simple Business Checking, has no monthly fees. However, the free transaction and cash deposit thresholds are low with this account. You only get 50 total combined transactions and $2,000 in cash deposits for free each month.
Truist does offer a higher-tier account, Dynamic Business Checking, that allows you 500 transactions and $25,000 in cash deposits for free each month. This account is free for the first 65 days then has a $20 fee, which is waivable if certain conditions are met.
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.
Overall, Truist is a great full-service traditional bank with savings, money market, business CDs, credit cards, lending, and insurance product offerings.
Also, it has a very solid mobile app, which is rated 4.7 on both Google Play and App Store out of almost 850,000 reviews. While feedback is mostly positive, some users had issues with mobile check deposits and some changes that occurred when the bank completed its merger.
Other Business Banks in West Texas
Southeast Business Bank: Regions Bank
What We Like
- Waivable monthly fees
- Cash back on eligible debit card purchase
- Free budgeting tools
Drawbacks
- Locations only in 15 states
- No online account opening
- Only 75 free monthly transactions for entry-level checking account
- Free and customizable Regions Business Visa Debit Card that earns cash back rewards
- 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 | 75, then 50 cents per item |
Monthly Fees | $7; 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 $2,500 free per month, then 25 cents per $100 |
APY | N/A |
When To Choose Regions Bank
Another great option for businesses located in eastern and southeastern Texas is Regions Bank. You will need to visit one of the bank’s branch locations to open an account, which are located in the Upper East, Southeast, Metroplex, Capital, Gulf Coast, and Alamo regions.
While the entry-level account, LifeGreen Business Simple Checking, only offers 75 free monthly transactions, the waivable monthly fee is $7. That is one of the lowest waivable monthly fees on this list, and you need to make $500 in purchases on your business debit or credit card in a month to waive it.
With this account, you also get up to $2,500 in free cash deposits per month. Regions Bank offers five different business checking accounts, including a non-profit option. The highest-tier account offers 500 free transactions per month and up to $20,000 in free cash deposits each month. It has a $25 waivable monthly fee.
There are some additional perks of getting a business account through Regions Bank, including 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.
Regions Bank also offers business savings, money market, and CDs. For those who want business credit products, the bank has credit cards and business loans, including lines of credit, SBA loans, equipment financing, and franchise banking.
Both versions of the Regions Bank mobile app are highly rated. The app has 4.7 stars on Google Play and 4.8 stars on the App Store out of more than 500,000 ratings. Some negative reviews mention that older phones might be unable to receive security updates, but this can be a problem with many applications and isn’t exclusive to this banking app.
Other Business Banks in Southeast
Northwest 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
- Charges monthly fees
- Free debit card
- Customized cards and checks
- 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 | None |
Monthly Fee | $10; waivable |
Domestic Wire Transfer Fees | $30 for outgoing; $15 for incoming |
International Wire Transfer Fees | $45 for outgoing; $16 for incoming |
ATM Fees | Free at 12,000-plus ATMs nationwide; $2.50 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 |
When To Choose Wells Fargo
With the most branch locations in Texas, Wells Fargo is a great option. There are over 500 branch locations across all 12 of Texas’ economic regions.
Its entry-level account has a very waivable monthly fee. The $10 fee charged for Initiate Business Checking customers can be waived if you have at least a $500 minimum daily balance or average ledger balance of at least $1,000.
Businesses that need more free transactions or larger cash deposits can get higher thresholds in the Navigate Business Checking or Optimize Business Checking products. One drawback is the $75 monthly fee for Optimize Business Checking is not waivable. Both of these higher-tier accounts allow you up to 250 free transactions.
Wells Fargo offers a wide range of 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.
Wells Fargo’s app is well-rated on Android and iOS devices, receiving 4.8 stars in each app store based on more than 10.6 million reviews. While some had issues with minor quirks in the app, most users were pleased and said the app met their needs.
Other Business Banks in Northwest
High Plains Business Bank: Prosperity Bank
What We Like
- 200 fee-free transaction limit for Small Business Checking and Small Business Checking with Interest accounts
- Low monthly fees
- Four business checking accounts
Drawbacks
- High balances required for monthly fee waivers
- $200 or $500 opening deposit requirement for non-Analysis checking accounts
- Locations limited to Texas and Oklahoma
- Free debit card
- Online and mobile banking
- Fastline telephone banking
- Business savings, money market accounts, and CDs available
- Offers SBA loans and commercial lending products
- Financing and investment options for medical professionals
Required Opening Deposit | $200 |
Required Balance Minimum | None |
Transaction Limit Before Fees | 200 per month, then 40 cents per transaction |
Monthly Fees | $10, waivable |
Domestic Wire Transfer Fees | Incoming: $7.50 Outgoing: $20 |
International Wire Transfer Fees | Incoming: $7.50 Outgoing: $20 to $40 |
ATM Fees | None at Prosperity Bank ATMs, $3 at non-Prosperity Bank ATMs |
Cash Deposited | Undisclosed |
APY | N/A |
When To Choose Prosperity Bank
Prosperity Bank is another great option for a business bank in Texas. It has branch locations in all but one region of the state (Upper Rio Grande) and has the sixth most branch locations of any bank in the state.
One major perk of its entry-level checking, Small Business Checking, is a large number of free transactions each month. It offers up to 200 free transactions each month, with additional ones costing 40 cents each. The account comes with a $10 monthly fee. While it is a low fee, it is harder to waive than with other banks. You must maintain a $3,500 account balance or a $25,000 deposit relationship balance to waive the fee.
The bank does not disclose its cash deposit fees on its website, so check with a local branch if your business handles cash regularly.
If you run a medical business, Prosperity Bank is a great choice. It offers medical practice loans and lines of credit, medical investment loans, and medical office building loans.
Prosperity Bank has an excellent mobile app. It is rated 4.7 on Google Play and 4.8 on the App Store out of more than 70,000 reviews. Most of the recent reviews have been very positive, with only some complaints about the lack of real-time updates in the app.
Other Business Banks in High Plains
How We Evaluated the Best Small Business Banks in Texas
We considered over 50 Texas-based banks when compiling this guide. When we evaluated the best banks for small business in Texas and the alternatives, we considered
- Banks with physical locations in Texas
- 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.
Bottom Line
All the best small business banks in Texas featured in this buyer’s guide can help your business grow and prosper. In addition, we have listed reviews for dozens more Texas banks if you want to compare offerings. Not every provider listed has physical locations. Even if there is a location in your region, due to the vast size of Texas, it may not be the closest location to your company. Determine what you need from your business bank, and then choose the provider that best meets those needs.