A business checking account separates your funds and helps streamline financial transactions between you and your customers. Finding the right place in Pennsylvania to open an account is crucial for efficiently setting one up.
Best Places to Open a Business Checking Account
Consider your company’s needs and available funds, as some banks require a minimum deposit for new accounts, to choose a partner that meets all of your requirements. Discover banks where you can open a business checking account in PA.
- First Commonwealth Bank
First Commonwealth Bank operates in Ohio and Pennsylvania. All accounts feature secure access when online banking with no charge, FDIC insurance for up to $250,000, a Business Debit Mastercard, unlimited free transactions at 55,000 ATMs and select complimentary services, like Bill Payment and eStatements. The bank has experience working with business owners to improve their organization, prepare for tax season and complete online banking tasks.
First Commonwealth Bank utilizes a Merchant Services processor to facilitate customer payments. As your business grows, it seamlessly transitions to an upgraded account. The Treasury Management service can help you choose an option that best suits your business’s needs. Some of these accounts include Checking, Solutions Checking, Checking Analysis and Checking Plus.
- Bluevine
Bluevine provides FDIC protection up to $3 million, and its checking balances have a high-interest yield. You can save money with no monthly fees, along with discounts on standard payment fees if you open a Plus or Premier checking plan. It also offers some digital banking tools. From its dashboard, you can deposit checks, send money, automate payments and provide teams with individual logins.
Using Bluevine’s professional invoicing and secure payment links, customers’ money goes directly into your business account. You can seamlessly separate funds into sub-accounts to allocate money for each department. It provides physical and virtual cards for chosen employees and has ACH fraud protection.
- Capital One
Capital One offers Basic, Enhanced and Premier Checking accounts for businesses. It offers unlimited digital transactions. You can make easy cash deposits without a fee at 70,000 ATMs and accompanying branches nationwide. You can also pay bills electronically on the go.
Within its allowable limits, your money is insured by the FDIC. Customers can easily and conveniently transfer their money with a Capital One business account. Access specialized products, unique rates, management tools and flexible lending options.
- Axos Bank
Axos Bank offers a Basic Business Checking account. The account has no monthly maintenance fees and free domestic incoming wires. Accounts do not need an initial deposit or minimum balance upon creation. You have unlimited transactions and reimbursements for any ATM fees, and its FDIC insurance reaches up to $250,000. Axos Bank is committed to security, offering protection 24/7.
With the Axos App, businesses can view their accounts, use bookkeeping software, send wire transfers, move money and more. Manage funds directly on your profile and automate transactions. Accounts include merchant services, treasury management, payroll and SBA loans, if applicable.
- U.S. Bank
U.S. Bank gives businesses smart online banking tools and personalized support from experts. Accounts come with fraud protection and seamless money movement. Your taxes, accounting operations and more are available on one singular platform. You can also monitor cash flow with a simple dashboard.
The bank’s account options for business include Business Essentials, Platinum Business Checking Package, Gold Business Checking Package, Premium Business Checking Package and Nonprofit Checking Account. The bank requires a minimum deposit of $100 when you open an account. New profiles come with a Visa Debit Card, online banking and bill pay.
- Chase Bank
Chase Bank offers three types of business accounts — Complete Checking, Performance Business Checking and Platinum Business Checking. It offers a range of online banking features, including cash flow management and time-saving tools, such as Cash Business Online and the Chase Mobile app. Its customer support team can assist throughout every stage of the business.
Chase Bank has 15,000 ATMs and 5,000 branches nationwide. Each Chase Bank account comes with Chase Business Online and Online Bill Pay, Chase Mobile Banking and a Chase debit card with a chip. If requested, it provides Associate Debit and Employee Deposit cards for your team. It’s free to open a savings account if you already possess a business account.
- Fulton Bank
Fulton Bank offers accounts to a wide range of businesses, including sole proprietors, nonprofits and midsize to large companies. Accounts can scale alongside your business. Some options are Business Checking, Business Premium Checking and Business Interest Checking.
Its mobile and online banking software is available wherever you are. The Fulton Bank dashboard is easy and secure for deposits. Multiple users can access it simultaneously, and businesses can customize alerts to suit their specific needs. The dashboard easily integrates with your existing systems and quickly facilitates payments. You can contact local Fulton Bank experts for further assistance upon opening an account.
Where Can You Open a Business Checking Account in PA?
As you peruse banks, evaluate fees, interest rates, minimum balances, mobile banking access, customer services, overall accessibility and more key features. These are all important factors to consider when opening a business account. Compare the best banks with business checking accounts in Pennsylvania.
| Bank | FDIC Insurance | Nationwide Reach | Minimum Deposit (For Most Basic Plan) |
| First Commonwealth Bank | Up to $250,000 | 127 community offices and 55,000 ATMs | Minimum deposit of $50 |
| Bluevine | Up to $3 million | Online-only banking and free withdrawals at over 37,000 ATMs | No minimum deposit required |
| Capital One | Up to $250,000 | Approximately 270 branches and 70,000 ATMs | Minimum deposit of $250 |
| Axos Bank | Up to $250,000 | Online-only banking and free withdrawals at over 90,000 ATMs | No minimum deposit required |
| U.S. Bank | Up to $250,000 | Over 2,000 branches andaccess to over 40,000 ATMs | Minimum deposit of $100 |
| Chase Bank | Up to $250,000 | Nearly 5,000 branches and 15,000 ATMs | No minimum deposit required |
| Fulton Bank | Up to $250,000 | Over 200 financial centers and 230 ATMs | No minimum deposit required |
Methodology
Each bank was chosen based on thorough research of its website and a comparison of key features, such as mobile banking capabilities and ATM network accessibility. The ranking was selected through customer reviews and similar lists.
Choosing a Bank for Your Business
Businesses benefit from separate bank accounts to manage funds, pay taxes and complete various professional duties. Choosing the right place to open an account in Pennsylvania is crucial to ensuring the financial security of your business.