Best Small Business Banks | How a Small Business Bank Can Help

This is one of the key aspects for the longevity of a business. And part of that work included choosing a financial institution that meets your needs. But which are the best banks for small businesse

There are many options, and with the arrival of digital banks, the list has grown even more.

There are many packages, fees, interests, and benefits to compare and analyze according to your business needs.

Therefore, do not choose the first “best” option that lands on your table. Get ready and go around the branches near your office and negotiate.

Benefits packages vary from traditional to digital banks, and choosing the best bank for small businesses is challenging.

To help you select the best banks for small businesses, we’ve put together a list of some advantages and tips to define the ideal one for you.

Best small business banks by type

traditional banks

– Santander

Banco Santander is one of the best banks for small companies and has even won in this category in the survey of the British magazine Euromoney. 

When opening a legal account at the institution, the entrepreneur has a card with a total discount on the annuity, exclusive access to transactions via the Santander Empresas app, sectorized service according to their type of business, etc.

Next Program is another advantage of the bank for business counter customers. It offers online courses such as lectures, training, and other content.

– Itaú

Itaú is also among the best banks for small businesses. In addition to being a solid institution in the national market, it has several services and special products for entrepreneurs.

Through special applications for companies, it is possible to pay bills, authorize payments, and make transfers, among other services.

SME owners have different rates and plans than large companies but with the same security and specialized service as the bank.

– Bank of Brazil

One of the oldest banking institutions in the country, Banco do Brasil is another of the best banks for small businesses.

Legal account holders can access special lines of credit to obtain working capital and financing with differentiated terms and rates.

To facilitate daily operations, account holders gain access to a Financial manager to do banking operations via computer or smartphone.

– Caixa Econômica Federal

Another public bank, Caixa, completes our list of best banks for small businesses.

The account for Legal Entities allows easy access to government services such as payment of FGTS, PIS Empresa, and INSS. In addition to all financial operations routines. 

To access the service, account holders pay a single monthly fee for the service package. 

digital banks

Digital banks also competed to win business customers with account options with reduced and even non-existent fees, from opening to maintenance and services.

This service attracts many young entrepreneurs familiar with technology and sees resource savings as a way to have more working capital and invest in growing operations.

We separate three tips for the best banks for small businesses in the digital banking sector.

– Neon Bank

Neon bank is one of the best small business banks with a PJ digital account and cheaper fees than traditional banks. 

No maintenance fee is charged, TEDs to other accounts have a fixed amount (R$ 3.50), and the transfer between Neon accounts is free.

Account opening is done via a smartphone application through which all transactions are carried out. 

– Original bank

The original bank is another option among the best small business banks. 

It offers friendly rates for day-to-day operations and specialized services for entrepreneurs who want to invest.

Original offers four months of free annuity in its model and cashback for those who don’t dispense with the physical card. 

– Banco Inter

Inter closes our list of the best banks for small companies to carry out transactions through internet banking without fees.

Account maintenance is free, it is possible to do 100 free TEDs per month, and the bank also offers a card machine service.

How to choose the best small business bank

Choose an agency close to the company’s headquarters.

If you opt for a traditional banking institution, choose a nearby bank branch to save yourself from long trips in the city. Thus, you can solve day-to-day activities easily and quickly. 

Negotiate interest and service package fees.

In traditional institutions, it is also possible to have a private service to learn about the benefits of PJ accounts and negotiate more favorable rates. Joining pension programs and business credit cards, among others, helps to achieve mutual benefits. 

Check internet banking access.

Both access via internet banking and an application are currently key resources that facilitate the most routine transactions. Check if your chosen bank offers these services and the security conditions to use them.

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