As a small business owner, you need the right banking app to make managing your money a breeze. We’ll look at the best banking apps for businesses. Discover their features to choose wisely.
Key Takeaways:
- The right banking app can simplify financial management for small businesses.
- Choosing the best app depends on your specific needs and preferences.
- Consider factors such as account features, mobile app performance, fees, and customer support.
- Explore the top banking apps for businesses to make an informed decision.
- Streamline your finances and improve your business’s money management with the right banking app.
Capital One
Capital One has great business banking solutions for small businesses. Their Spark Business Basic Checking account is standout. It offers unlimited transactions each month, meaning you can freely manage your business’s money without extra costs.
They know cash is key for many businesses. That’s why they let you deposit cash for free, up to $5,000 monthly. This is a big help for businesses that handle a lot of cash regularly.
Capital One also excels in online and mobile banking. Their app is well-loved, letting you handle your money wherever you are. It’s user-friendly and lets you customize, giving you a more personal experience in managing your funds.
It’s clear the Capital One app is top-notch. It has won the J.D. Power award for being the best in mobile banking, showing just how great it is.
If you want a banking app loaded with features, easy to use, and loved by its users, check out Capital One’s app. It’s perfect for handling your Spark Business Basic Checking account comfortably.
CitiBank
CitiBank is a well-known financial institution. It provides a variety of business checking accounts for small businesses. The CitiBusiness Streamlined Checking is a favorite choice among business owners.
This account asks for a $15 monthly fee. It covers 250 free monthly transactions. Also, you need to keep a $5,000 minimum balance in it.
Managing your account online with CitiBank is simple. You can easily check your finances and transactions. Plus, their user-friendly mobile app lets you do business banking from anywhere.
But, keep in mind CitiBank’s various account fees. These fees can add up. Be sure to check their fee schedule to know all the costs.
Features of CitiBank’s CitiBusiness Streamlined Checking Account:
- $15 monthly fee
- 250 free monthly transactions
- $5,000 minimum balance
In short, CitiBank’s CitiBusiness Streamlined Checking account offers easy online access and a handy mobile app. These features are great for small business owners. Yet, you should remember the account fees too.
Axos Bank
Axos Bank operates online, focusing on business accounts. The Basic Business Checking account is a hit with small companies. It doesn’t need a minimum balance daily. This gives businesses more freedom with their money. Plus, there are no monthly fees, which cuts costs for businesses.
The Basic Business Checking account shines with 60 free monthly remote deposits. This is great for businesses that deal with a lot of checks. They don’t have to go to a bank or pay for deposit services. It saves time and money.
Today, online and mobile banking are crucial for businesses. Axos Bank offers easy access through their website and app. Yet, their app has faced complaints for its poor user experience and unreliable performance. Although their website works well, this could be a drawback for some users.
Despite app issues, Axos Bank’s Basic Business Checking is a top choice. It’s perfect for small businesses that want to save. It offers benefits like no monthly fees and free remote deposits. This makes running banking tasks smoother for businesses.
| Pros | Cons |
|---|---|
| No monthly fees | Poor mobile app user experience |
| No daily minimum balance requirement | Unreliable mobile app performance |
| Up to 60 free monthly remote deposits |
Santander Bank
Santander Bank serves customers worldwide by focusing on business banking. It excels in services for international exchange and trade. The bank’s strong focus in these areas helps businesses around the globe.
Business Checking Options
At Santander Bank, there are three checkings designed for specific business needs. The Basic Business Checking option is quite popular. It supports daily business activities well.
This account costs $7.50 a month. It gives you 50 free transactions each month. You need to keep a minimum daily balance of $1,500. This option is great for businesses with moderate transactions and simple banking needs.
International Exchange Services
Santander Bank is known for its expertise in international exchange and trade. It offers great exchange rates and services for businesses trading globally.
Santander Bank gives businesses easy access to currency exchange, wire transfers, and trade financing. They help with payments across borders or managing foreign currency accounts. Santander steps up to meet your international business needs.
Mobile App Ratings
Despite offering great business banking services, Santander’s mobile app gets mixed reviews. Some users found it difficult to use and lacking in features. This led to lower scores for the app.
However, Santander Bank is still a top choice for businesses needing international financial services. Its strengths lie in competitive rates, a variety of checking options, and its global reach. This makes them a strong option for companies working internationally.
SunTrust Bank
SunTrust Bank has business checking options that are easy to use, with clear fees. The Simple Business Checking account is perfect for small businesses. It saves you from needing a minimum balance and offers 50 free transactions each month. This lets you put your efforts into business growth, not extra charges.
They also know how important cash processing is for businesses. So, the Simple Business Checking account includes up to $2,000 in cash processing each month. This makes handling your finances easier and smoother.
For accessing your account, SunTrust Bank’s online platform is detailed. You can keep an eye on your account, check statements, and make transactions from anywhere. But, their business banking app has had some issues. A few users say it’s not very reliable and lacks key features like mobile check deposit.
Despite the app’s troubles, SunTrust Bank is dedicated to making their digital banking user-friendly. They offer extra features like fraud protection and the ability to customize your account alerts. This shows their strong support for a positive customer experience.
In summary, SunTrust Bank’s Simple Business Checking is a clear and easy choice for small businesses. Though their app has had problems, their online service and simple fees are still a good deal. They provide a reliable and affordable banking option for businesses.
M&T Bank
M&T Bank has a variety of business checking accounts. They cater to different needs. For instance, the Simple Checking for Business account is perfect for new businesses. It has a low monthly transaction count and includes 100 free transactions. With a $2,500 minimum balance, this account is great for small businesses to manage their finances efficiently.
M&T Bank allows businesses to customize their debit cards. You can add your logo or pick a design that fits your industry. This helps your business stand out with a unique and professional touch on your debit card.
M&T Bank doesn’t just stop with customizable debit cards. They also offer industry-specific solutions. If you’re in retail, healthcare, or any other field, they provide services tailored to your business’s financial needs and success.
However, it’s worth noting that M&T Bank may have fewer branch locations and ATMs. This might be a concern if easy access to physical banking is important to your business. Make sure to check their locations before deciding if they are right for you.
Benefits of M&T Bank’s Simple Checking for Business:
- No monthly service fees for 12 months
- 100 free monthly transactions to support small businesses
- Access to M&T Bank’s industry-specific solutions
- Customizable debit cards to showcase your brand
- Convenient online banking and mobile app
| Account Features | Simple Checking for Business |
|---|---|
| Minimum Balance Requirement | $2,500 |
| Monthly Fees | No monthly fees for 12 months |
| Free Monthly Transactions | 100 |
| Online and Mobile Banking | Yes |
| Physical Branch Locations | Limited |
Found
Found is made for small businesses, providing a full banking solution. It gives you powerful features to manage money and run your business better.
The standout in Found’s business checking account is its smart tax tools and built-in bookkeeping. They make tax time easier and keep your records accurate, to help you follow tax rules.
Found also helps you track expenses. With this, you can watch and sort your spending. This is key for setting and sticking to your budget.
Plus, you can send as many invoices as you want without extra costs. This makes billing smooth, brings cash in faster, and cuts down on paperwork.
Online banking with Found is both safe and convenient. You can check your accounts and do banking tasks from anywhere. Real-time alerts keep you updated on account actions.
Benefits of Found Business Banking:
- Smart tax tools and built-in bookkeeping
- Expense tracking for better budget management
- Unlimited free invoicing to streamline your billing process
- Secure online banking with real-time transaction notifications
- User-friendly mobile app for banking on the go
- No hidden fees for transparent and straightforward banking
With Found, you can grow your business with less worry about banking. Their solution and mobile app make banking easy for small businesses.
Choosing Found means smart banking tools for small businesses. Their unique features help with finances and business growth. See how Found can make managing your business finances easier.
Conclusion
When picking the best banking app for your business, think about a few things. First, check the features. Make sure they fit what you need, like unlimited transactions or free cash deposits.
Then, look at the app’s performance. It should be easy to use and work well, helping you take care of your business’s money everywhere you go.
Also, think about the fees. Choose apps with clear fee info that won’t cost your business too much.
Lastly, great customer service is key. Go for apps with helpful support for when you have questions or need help.
Considering these points and the benefits and drawbacks of each app will help you find the perfect banking app for your business.
FAQ
What are the best banking apps for businesses?
The best banking apps for businesses are Capital One, CitiBank, Axos Bank, and others. Each app has features that fit different business needs.
What features does the Capital One banking app offer?
The Capital One app gives you unlimited transactions and free cash deposits up to ,000. It also offers easy online access and a top-rated mobile app.
What are the account fees associated with CitiBank’s business checking account?
CitiBank’s CitiBusiness Streamlined Checking charges a monthly fee. It also has various other fees and requires a ,000 minimum balance.
What has been criticized about the Axos Bank mobile app?
People have criticized the Axos Bank app for its bad user experience and poor performance.
What do Santander Bank’s business checking options specialize in?
Santander Bank focuses on international business services. They have good exchange rates and offer a Basic Business Checking with 50 free transactions.
What issues have users experienced with the SunTrust Bank mobile app?
Users don’t like the SunTrust Bank business app for its poor function and lack of mobile check deposit.
What considerations should be made when choosing M&T Bank for business banking?
M&T Bank has custom solutions and debit cards for businesses. But, remember, they have fewer branches and ATMs.
What features does Found offer for small businesses?
Found is made for small businesses. It includes a checking account with tax tools and free invoicing. Plus, it has secure online banking.
How can I choose the right banking app for my business?
When picking a banking app, look at features, app quality, fees, and support. Compare apps to see which meets your business’s needs best.
