business checking accounts

Best Business Bank Accounts: 5 Top Picks for Small Businesses

Key Takeaways:

Look for banks with low fees, accessibility, and flexible lending options.
Navy Federal Credit Union offers great flexibility and member-focused benefits.
Bank of America offers nationwide access, strong digital tools, and competitive rewards.
PNC Bank is known for friendly customer service and low-doc lending options.
Novo Bank excels in quick, online setups with no minimum deposits.
TD Bank is ideal for startups that want SBA loans and offers fee waivers.

Finding the right bank for your small business isn’t just about managing money—it’s about forming a partnership that helps your business grow. The best business bank accounts offer more than basic checking and savings; they provide tools, flexibility, and support tailored to small business needs.

Here, explore my top picks for business checking accounts, their key features, and get insights into what makes a business bank account great.

This is what’s in store:

What Makes a Bank Good for Small Businesses?
Our Top 5 Small Business Bank Picks
Bonus: Our Favorite Small Business Credit Cards
Frequently Asked Questions
Final Thoughts

Now, let’s go!

What Makes a Bank Good for Small Businesses?

Not all banks are created equal, especially when it comes to supporting small businesses.

Here’s what you should look for:

Ease of access
Low fees
Flexibility
Lending options
Standout customer service

Physical branches, ATMs, and user-friendly apps make sure you can manage your money anytime, anywhere. And, minimizing costs means more cash stays in your pocket. Look for low or no monthly maintenance fees, transaction fees, and ATM charges.

Every entrepreneur has a unique story, so banks that offer personalized solutions are a big plus. Whether you need a line of credit, equipment financing, or an SBA loan, a supportive bank is crucial.

A bank that understands your challenges and is easy to work with makes all the difference—so, be sure to test out the customer service before you commit.

With these factors in mind, let’s explore the top banks for small businesses.

Our Top 5 Small Business Bank Picks

Our favorite banks for small business accounts are Navy Federal Credit Union, Bank of America, PNC Bank, Novo Bank, and TD Bank. Find out why we recommend these particular institutions and what you can expect from each.

1. Navy Federal Credit Union

Navy Federal Credit Union (NFCU) genuinely prioritizes its members. They offer flexibility and benefits that you can’t typically find in traditional banks.

For instance, you can transfer funds from a credit card to a checking account without a cash advance fee. As a portfolio lender, NFCU sets its own lending guidelines, which makes it more accommodating than most.

Some of the key features of an NFCU business checking account are:

Their flexible lending options are tailored to small businesses.
They charge no cash advance fees for internal transfers.
Account holders can experience a highly member-focused approach to banking.

And, like all accounts, there can be some challenges or downsides—In the case of NFCU, here are the potential drawbacks:

Their account-opening process can be lengthy.
Membership requirements can be strict, often limited to military personnel and their families.

However, if you qualify for membership, NFCU is an excellent choice for businesses needing a partner with flexible solutions.

2. Bank of America

Best business bank accounts for small business

With nationwide access, Bank of America (BOA) is a top choice for businesses requiring convenience and digital tools. Their app is among the best in the industry, offering Zelle integration, online bill pay, and mobile deposits. This makes managing your business finances seamless, no matter where you are.

The standout features of a BOA business checking account are:

They have an extensive branch and ATM network across the U.S.
Accounts come with robust digital tools for payments and deposits.
Account holders can access a suite of business credit cards with competitive rewards.

And, some of the BOA business account challenges are:

Their higher turnover rates can affect customer service.
Bank policies are strict, which can leave little room for flexibility.

For businesses prioritizing convenience and digital innovation, BOA is a reliable option.

You might also like: Bank of America Corporate Cards: A Complete, Uncut Review

3. PNC Bank

Best business bank accounts for startups

PNC Bank offers a more personalized experience than larger national banks. With a focus on building relationships, they get to know your business needs and provide tailored solutions. As a portfolio lender, PNC offers flexible documentation requirements for loans, making it easier for small businesses to access credit.

Some of the top features of a PNC business checking account are:

It’s a regional bank with a customer-friendly approach.
It offers online bill pay, Zelle, and mobile deposit options.
They have lower documentation requirements for lending.

And, some of the possible downsides of banking with PNC bank are:

Their business lending options can lack clarity.
They have limited options for real estate investors.
Regional presence may not suit nationwide businesses.

If you prefer a bank that takes the time to understand your story, PNC is a strong contender.

You might also like: PNC Bank Business Credit Card Review & Comparison

4. Novo Bank

Who is the best bank for business banking?

Novo Bank is perfect for entrepreneurs who value speed and simplicity. This online-only bank allows you to set up an account in about 10 minutes, with no minimum balance or initial deposit. Novo also partners with tools like Stripe to provide perks like faster payouts and fee discounts.

Some of the perks of a Novo business checking account are:

The account setup process is quick with no minimum deposit.
They issue virtual debit cards for immediate use.
Accounts integrate with Stripe Boost™ for faster access to funds.

And, some of the possible shortcomings of banking with Novo can be:

They have no physical branches, which may be inconvenient for some businesses.
Their customer service has been criticized, especially for check deposit issues.

Novo might be ideal for tech-savvy entrepreneurs or startups that need fast, fee-free banking solutions.

5. TD Bank

Best business bank accounts for sole proprietorship

TD Bank is a regional powerhouse that excels in customer service and fee waivers. It’s also one of the top SBA lenders, making it a great choice for businesses needing funding to start or expand.

TD waives many common fees, including ATM fees for out-of-network locations, which can save you money.

A few of the advantages of business banking with TD are:

They offer fee waivers for small business accounts.
Their small business lending options are excellent and include SBA loans.
They have a strong regional presence with accessible customer service.

And, some of the possible disadvantages of TD business checking are:

Account setup can be slow.
Their regional availability may limit access for nationwide businesses.

For startups and small businesses looking for funding, TD Bank is a noteworthy choice.

You might also like: No-Doc Business Loans: Get Funds Without Proof of Income

Bonus: Some of Our Favorite Small Business Credit Cards

In addition to a business bank account, having the right credit card can boost your purchasing power and rewards.

I recommend you explore:

Chase Ink Business Preferred
Bank of America Platinum Plus Business Mastercard
American Express Business Gold Card
Capital One Spark 2% Cash Plus
CitiBusiness / AAdvantage Platinum Select Mastercard

The Chase Ink Business Preferred card offers 3X points on shipping and select business categories, with points redeemable for cash back, gift cards, and travel through Chase Ultimate Rewards®.

Meanwhile, the Bank of America Platinum Plus Business Mastercard provides a competitive APR, tools for managing cash flow, free access to business credit scores, and travel-related benefits.

Next, the American Express Business Gold Card allows you to earn 4X points on your top two spending categories each billing cycle, up to $150,000 annually, and includes valuable travel perks.

And, the Capital One Spark 2% Cash Plus card delivers unlimited 2% cash back on all purchases, with an additional 5% on hotels and rental cars booked through Capital One Travel.

Finally, the CitiBusiness / AAdvantage Platinum Select Mastercard is ideal for frequent flyers, offering rewards and perks on American Airlines, such as a free checked bag and preferred boarding.

Frequently Asked Questions

Which bank is best for a business account?

The answer depends on your needs. Navy Federal offers unmatched flexibility for members, while Novo provides fast, online-first solutions. And, TD Bank is a top choice for startups that need funding.

Which is the quickest business account to open?

Novo Bank takes about 10 minutes to set up online, which makes it the fastest option I know of.

What type of account should an LLC open?

An LLC should look for a business checking account with low fees, online tools, and lending support. Options like TD Bank and PNC offer great flexibility for LLCs.

Are there business accounts for sole proprietors?

Yes, all banks on this list cater to sole proprietors. Navy Federal and PNC provide excellent services for smaller operations.

Final Thoughts

Choosing the best business bank account means finding a partner that fits your needs, whether it’s fast online access, personalized service, or low fees. Navy Federal Credit Union is unmatched in flexibility, while Novo is ideal for online-first businesses. For startups and LLCs, TD Bank offers competitive funding options and waived fees.

Evaluate your business goals, compare the options, and pick the bank that supports your journey. With the right banking partner, managing your finances becomes one less thing to worry about.

Do you want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

Amex Business Checking Review: What You Need to Know…Really

By Joe

Key Takeaways

Amex Business Checking earns 1.3% APY on balances up to $500K (and a longstanding 30K-point intro bonus for meeting account requirements).
No monthly maintenance fees and free MoneyPass™ ATM access.
Rewards debit card earns 1 point for every $2 spent, to help you accumulate rewards.
High deposit limits accommodate balances up to $5 million, surpassing many competitors.
No QuickBooks integration, no cash deposits, and limited support for Android users.
Competitors like Bluevine and Novo offer higher APY, cash deposits, and additional features like virtual cards.

I first came across Amex’s new business checking account in a private Facebook group post back in 2023. While the company has been around for decades, American Express previously only serviced credit card and travel-related offers. Now, they’ve got a checking account that earns interest on up to $500K with enticing introductory bonus points for new accounts.

So, let’s explore the new offer in full, and find out what you need to know whether this is the right checking account for your business.

Here’s what’s in store:

Amex Company Overview
The Amex Business Checking Account
Amex Business Checking Competitor Overview
Frequently Asked Questions
The Takeaway

So, let’s get to it!

Amex Company Overview

Is Amex good for a business checking account?

So, why is Amex so popular? Well, this NY-based institution has been around since 1850, servicing consumer and business credit, expense management, and travel products. The founders were Henry Wells, Irene Tserkovny, John Butterfield, and William Fargo.

Do any of these names sound familiar? As you might have guessed while reading (if you didn’t already know), Butterfield, Wells, and Fargo are the same people who founded Wells Fargo in the mid-1800s.

While big banks don’t tend to inspire everyone’s confidence, the fact that the company has been around for over a century is telling. Amex is a trusted name in American finance, and the odds are that they’re going to stick around for many years to come; this is important in an age where new, cutting-edge financial products are in and out of existence after a year or two in the marketplace.

Currently, American Express is a publicly-traded, for-profit global financial services company led by CEO Stephen Squeri. They’re best known for their credit cards, charge cards, and traveler’s checks. Lately, their checking accounts are quickly rising in reputation.

You might also like: A Complete, Unfiltered Amex Business Gold Card Review

The Amex Business Checking Account

In short, an Amex business account gives you the opportunity to earn interest and introductory rewards with free, online checking. Since every business needs a bank account, it may seem like you’ve nothing to lose by signing up.

And, while there are some great features with Amex business checking, there are some missing features…not all contemporary online checking accounts are the same. Read everything below to weigh the pros and cons for yourself.

The Introductory Bonus

American Express business checking login

One of the most hyped benefits of an Amex business checking account is the intro offer. Currently, they’re giving away 30K rewards points (worth about $300 total) with qualifying activities on a new account. And, this offer has been in play since 2023, so they may stick with it.

Here’s what you’ll have to achieve to get the bonus points:

Account balance of $5K within 30 days of opening your account
An average account balance of $5K for the following 60 days
5 or more “qualifying transactions” within 60 days of opening your account

If you apply, are approved, and meet these requirements, the points should be distributed to your account at the end of the 90-day wait. Keep in mind that the intro offer is likely to change — some people got in when they promised 20K points and others were offered 60K.

So, what are “qualifying transactions?”

✅ Mobile deposits

✅ Check deposits by mail

✅ Electronic/online transactions (ACH, wire, and bill payments)

And, what are not qualifying transactions?

❌ Business debit card transactions

❌ Deposits using the “Redeem for Deposits” feature

We’ve seen other brands like Wells Fargo and Chase offer anywhere from $200 to $500 for new individual and business accounts with qualifying activities. The key difference with this offer is that Amex is delivering an online bank account, which is best compared to offers like Bluevine and Novo.

You might be wondering how hard it would be to get 5 or more qualifying transactions within 60 days (if this won’t be your primary account), and the answer is, ‘it would be pretty easy.’

All you would have to do is divide your deposit amount requirement ($5K) by the number of transactions you need (5) and make the appropriate number of mobile, check, or ACH payments into your new account (5 X $1K deposits) within the first month of opening the account.

But, don’t get ahead of yourself trying to work the system…you might actually decide to keep your account once you get in and realize the benefits.

Amex Checking Account Features

In a word, Amex checking accounts have some pretty cool benefits:

Earn interest on checking account balance
Get 1 Amex point for every $2 spent
Pay no monthly maintenance fees
Gain fee-free MoneyPass™ access
Take advantage of high deposit limits
Get free, fast outgoing ACH
Send free eChecks and use fee-free checkbooks
Keep your Amex MR points alive

Just for fun, let’s explore the offer a bit more in-depth.

In addition to the intro points offer, Amex business checking accounts earn 1.3% variable APY on balances up to $500K.

So, you have a chance to earn a bit — an account with an average balance of $5K could be earning $65 each month. While most savings accounts offer the opportunity to earn, this isn’t a standard feature with checking accounts. With that said, Bluevine offers a 2% fixed APY on accounts that carry up to $100K, so that part of their offer outshines Amex.

Amex is the only popular online bank account with a rewards debit card that earns 1 point for every $2 spent. If you use your debit card to spend $200, you can earn $1. This may not sound like a lot, but rewards can add up quickly.

Plus, you’ll pay no monthly maintenance fees for an Amex business checking account. While most business bank accounts charge anywhere from $10 — like NorthOne, for example — to $30 per month, Amex checking is free (note: so are Novo and Bluevine’s offers).

With an Amex business checking account, you’ll incur no ATM fees within the MoneyPass™ network. You might, however, have to pay third-party fees. Note that Novo bank refunds third-party ATM fees at the end of each billing cycle, though there’s no telling how long this reimbursement offer will last since the company is in the earlier stages.

Furthermore, they have high deposit limits, which we can’t say for other online bank accounts and neobanks; most online checking offers are capped at $1K or $5K per day while Amex won’t cap your deposits — You can keep up to $5 million in your account.

And, you’ll never pay the typical fees you see with business checking accounts. So far, users have been satisfied with outgoing ACH, citing that it’s fast (usually same-day) and free to send money to external accounts. Checks are also free, and there are no fees for NSF, stop pay, billing inquiries, replacement cards, late fees, or admin processing.

Finally, you can save your existing Amex reward points, even if you plan to close out credit card accounts to bypass annual fees. Automatically redeem existing MR points in your Amex checking account.

All-in-all, an Amex checking account could save you some money while it expands opportunities to earn and grow your business.

What is the Downside of American Express Checking?

As with all financial offers, there are some downsides for Amex checking account holders.

One of the most glaring issues for me is that there is no Quickbooks integration with an Amex checking account yet. However, you can connect an Amex account to Quickbooks online. 🤷

Furthermore, if you want to deposit cash, you’ll first have to exchange it for a money order or check, then transfer the funds to your account. No cash deposits could be extremely inconvenient for cash businesses. You can withdraw cash from an Amex account via ATM using your debit card.

And, as with all online bank accounts, you won’t be able to walk into a branch — they don’t exist. If this is important to you, choose a local branch to open your business bank account.

There’s also a rumor floating around that Amex checking accounts don’t offer wire transfers, but it isn’t true; incoming wires are free while outgoing wire transfers cost $20. And, this price is pretty typical.

Where Amex checking accounts actually fall short is in the fact that they facilitate no INTERNATIONAL wire transfers. If you really want to go with Amex, you can look into solutions from Wise or Plastiq for this — these platforms are more user-friendly than your typical wire process anyway.

Finally, if your business credit card is serviced through Amex, and you have any issues that arise at no fault of your own (overdrafts, chargebacks, etc.), these could negatively impact your credit accounts.

Some business owners opt to use different institutions for business credit and business banking because of this, though I recommend a different approach.

Amex Business Checking App

The Amex business checking app is only available on iOS (they do have an Android app for credit accounts), so any Android users will need to access their account from another device.

As a Google Play person myself, this seems a bit silly to me — there are lots of apps available for Apple while unavailable on Android, but I would think an online banking account would see the importance of serving customers across all devices.

But, if you’re an iOS user, keep reading…

The Amex business checking app allows you to create and schedule payments on the go, and it’s pretty slick. In addition to the usual app features like mobile deposits, transfers, and payments, you can manage and redeem Amex rewards points.

I mentioned this previously, but you may have missed it: existing Amex rewards members’ rewards points are automatically added to your checking account. I think this is pretty cool.

With this said, the app doesn’t have the best user ratings, so I have a quick tip for ya: if you find that your two-factor authentication is wonky, delete and reinstall the app — this seems to be solving the issue for existing app users (Plus, my bet is that the developers are getting this worked out as we speak).

Amex Business Checking Competitor Overview

The two brands with the closest offers to Amex’s current small business checking are Novo Bank and Bluevine. So, let’s look at how these three accounts stack up next to one another:

Amex Business Checking Competitors — Amex vs Bluevine vs Novo

The most enticing competitive advantage is that Amex currently has the highest deposit limit. If you’re earning more than $5K via a website, app, or your POS, then neither Novo nor Bluevine will work for you — In this case, Amex would be a natural choice.

If you’re earning a little less, Bluevine might give you the opportunity to earn more on your monthly balance with 2% interest vs 1.3% with Amex; plus, they are the only solution that offers cash deposits.

And, Novo’s got the monopoly on virtual cards, reimbursed third-party ATM fees, and built-in invoicing (for now).

Keep in mind, you don’t have to choose an online business checking account. In fact, I typically recommend small business owners bank with small, local community banks for the best business credit opportunities (among additional interpersonal benefits).

Frequently Asked Questions

Does Amex business checking pull credit?

No. When you apply for an Amex business checking account, you’ll be shown a consumer reporting disclaimer. This does not mean that opening an account will affect your credit score.

Does American Express business checking use Zelle?

No. Most business checking accounts are incompatible with Zelle. However, Bank of America and PNC Bank might be Zelle-compatible. Please check with the Banks for an up-to-date answer.

Can you use Venmo with American Express?

Yes! You can use the Send & Split™ feature in the Amex app to send money with Venmo.

How do I deposit cash into my American Express business checking account?

Unfortunately, American Express doesn’t support cash deposits. So, you will have to somehow convert any cash into a check or money order to make a deposit into an Amex checking account.

How much is 60K Amex points worth?

60,000 Amex points are worth roughly $600. Though, they can be redeemed for more through American Express’ promotional and travel offers.

Final Takeaway: Is Amex Worth the Hype?

If you’re an Android user, you run a cash business, or you expect a Quickbooks integration with your account, American Express might not be your top choice for business checking—But, it does have some pretty cool features.

If you’ll be depositing tens of thousands of dollars into your account, Amex is clearly the best online banking option, though I still recommend local community banks and credit unions where you can walk into a branch and build a relationship with the banker.

If you want to learn how to obtain up to $100K in business credit in as few as 30 days, join Business Credit Workshop today.

Should You Open a Business Account at Gesa Credit Union?

By Joe

When it comes to banking, Gesa Credit Union is like a friendly neighbor who’s always there for you. Unlike big banks, Gesa is all about community, putting members first and focusing on what really matters–financial well-being.

If you live in the Pacific Northwest, they may be able to provide you with business credit solutions tailored to your needs, whether it’s a credit card, loan, or savings account.

So, in this review, we’re diving into Gesa’s lineup of business-friendly offerings, from rewards on credit cards to flexible loans and savings options. Let’s find out if Gesa is a good match for your business banking needs.

This is what’s in store:

What is Gesa Credit Union?
- Locations Served
- Membership and Eligibility
Business Financial Products and Services
Gesa Credit Union Customer Service
Gesa Credit Union Community Involvement
Frequently Asked Questions
Conclusion

Now, let’s dive in!

What is Gesa Credit Union?

Gesa Credit Union is a member-owned financial institution. It serves the financial needs of individuals and businesses, especially small businesses.

This credit union was founded in 1953 by a group of General Electric supervisors. Since then, it has grown into one of the largest credit unions in Washington state. Gesa’s mission is to serve its members and communities by providing affordable financial products and services. This includes a strong commitment to supporting local businesses and community development.

Gesa credit union routing number325181248

Gesa Credit Union is dedicated to helping small businesses thrive. They understand that small businesses are vital to the local economy and community.

Hence, the credit union offers a range of products and services for small business owners:

They offer a variety of business checking and savings accounts to meet different needs.
Gesa participates in Small Business Administration (SBA) loan programs, providing access to funding with favorable terms.
Their treasury management services help businesses manage their cash flow efficiently.
Gesa offers term loans and lines of credit to help businesses finance operations and growth.
They provide business Visa cards with competitive rates and rewards.

Gesa Credit Union focuses on keeping money within the community, supporting local schools, organizations, and businesses. When you bank with Gesa, you help support these local initiatives and contribute to the overall well-being of the community.

Locations Served

Gesa Credit Union serves businesses primarily in Washington state, with branches in Richland, Pasco, Kennewick, Walla Walla, Moses Lake, Yakima, Wenatchee, Pullman, Spokane, Puyallup, Seattle, Tacoma, Kirkland, Lynnwood, and Bremerton. Additionally, they have a branch in Post Falls, Idaho.

To enhance accessibility, Gesa offers extensive online services, including online and mobile banking through their “Gesa to Go” app. Members can manage accounts, transfer funds, pay bills, and deposit checks remotely.

Plus, Gesa Credit Union is part of the CO-OP Financial Services Network, the second largest branch network in the U.S. This allows Gesa members to access almost 200 locations in Washington State and conduct banking at credit unions nationwide. Additionally, members have access to over 77,000 surcharge-free ATMs across the country, which ensures convenient banking wherever you are.

You might also like: A Complete Northwest Registered Agent Review & Analysis

Membership and Eligibility

How to become a Gesa credit union member

To become a business member of Gesa Credit Union, the business must meet certain eligibility criteria. Businesses qualify if they are located in Washington state, or select counties in Idaho and Oregon.

Specifically, these counties in Idaho include Benewah, Bonner, Boundary, Clearwater, Idaho, Kootenai, Latah, Lewis, Nez Perce, and Shoshone. In Oregon, eligible counties are Clackamas, Clatsop, Columbia, Gilliam, Hood River, Morrow, Multnomah, Sherman, Umatilla, Union, Wasco, and Washington.

Additionally, businesses owned by individuals who live, work, worship, or attend school in these areas, or those who have a close relative who qualifies, can also join.

Here’s what you’ll need to do:

Make sure your business is located in the eligible regions of Washington, Idaho, or Oregon.
Open a personal checking or savings account with Gesa.
Prepare key business details, including the business name, address, and tax identification number.
Owners or authorized signers should be ready to provide personal identification (e.g., driver’s license) and verification information as per Federal requirements to combat terrorism and money laundering.
Visit a local Gesa branch or call their customer service to begin the membership process.
Inform the representative that you are interested in opening a business account.
Fill out the necessary membership application forms.
Provide all required documentation and identification for both the business and its owners or authorized signers.
Make an initial deposit into your new business account.

And, voila! As long as you meet the eligibility criteria, the process of becoming a member is no different than opening any other business bank or credit union account.

You might also like: Unlock Business Success with Oregon Community Credit Union

Business Financial Products and Services

From business banking to credit, loans, and beyond, here’s what Gesa Credit Union offers in the way of small business financial products.

1. Business Banking/Checking

Gesa Credit Union offers a range of business checking accounts to meet a variety of small business checking needs.

Each checking account comes with:

Free access to online banking
Automated and online bill pay
Competitive rates

Here’s a side-by-side comparison of their business checking accounts.

	Analysis Business Checking	Value Business Checking	Versatile Business Checking
Ideal For	Businesses with high monthly transaction volumes.	Small businesses with a lower volume of transactions.	Businesses with moderate account activity.
Costs & Fees	Charges based on account activity.	No fee per deposited or cleared check if 100 or fewer checks presented monthly.	No fee per deposited or cleared check if 200 or fewer items presented monthly.
Requirements	Low $100 minimum deposit to open.	Low $100 minimum deposit to open.	Low $100 minimum deposit to open. Daily balance of $5,000 required to waive monthly service fee.
Advantages	Earns credit back based on balance. Can use earned credits to offset service fees. Includes Cash Management Services.	No monthly service charges.	Flexibility and freedom for your business.

Gesa Credit Union shows support of small business growth through its tailored business checking accounts. They also have options tailored to nonprofits and municipalities. See their website for details.

You might also like: Amex Business Checking Review: What You Need to Know…Really

2. Business Credit Cards

Gesa Credit Union offers two business credit card options designed to meet the diverse needs of business owners. Both cards provide business owners with the ability to manage expenses efficiently while enjoying additional perks such as enhanced security features and separation of business and personal finances.

The Gesa Business Visa® Credit Card provides flexibility, convenience, and security, enabling easy separation of business and personal finances. With variable rates ranging from 14.74% to 26.99% APR, this card offers instant purchasing power and 24/7 member service support.

Similarly, the Gesa Business Visa® Rewards Card is ideal for businesses seeking to earn cash back on everyday purchases. Featuring variable rates between 19.24% and 28.99% APR, this card offers 1.5% cash back for net purchases, along with the same benefits of instant purchasing power and 24/7 member service support.

3. Business Loans

Gesa Credit Union offers various types of business loans tailored to meet the diverse needs of local small businesses. Gesa is well-known for its over 50 years of SBA lending experience, local decision-making, and commitment to prompt customer service.

The SBA loan programs available through Gesa include:

The 7(a) Business Loan
Express Lines of Credit
504 Loan
CAP Lines

These programs offer low down payment requirements and longer terms, making them popular choices among small business owners. The loans can be used for various purposes such as acquiring an existing business, purchasing, constructing, or renovating owner-occupied commercial real estate, financing long-term working capital, purchasing vehicles and equipment, and refinancing debt.

The 7(a) Business Loan, in particular, offers terms up to 10 years for business acquisitions, equipment, and working capital, and up to 25 years when commercial real estate is involved. Loan amounts can go up to $5 million, providing businesses with the financial flexibility they need to thrive.

And, Gesa provides Business Term Loans and Lines of Credit with competitive interest rates, local decision-making, and personalized service from experienced commercial lenders.

4. Business Savings & Investment Opportunities

Gesa Credit Union Commercial Savings Account

Gesa Credit Union’s Business Savings Accounts are ideal for those seeking competitive rates and overdraft protection for checking or money market accounts. With a balance of just $100 to open and maintain the account, businesses can benefit from competitive rates that ensure their funds are working for them—You can earn 0.04% APY when you maintain a minimum balance of $500 each month.

Additionally, the low monthly service charge can be waived based on the aggregate average daily balances in all other Business Accounts, providing flexibility and cost savings.These accounts also offer online banking access for convenient account management and ensure membership as a business account member.

Business Certificates are perfect for businesses looking for higher-yield, fixed-rate savings accounts for excess funds.

With terms ranging from 3 to 60 months, you can choose the option that best suits your financial goals. Interest is compounded and paid monthly and at maturity, allowing businesses to maximize their earnings. Plus, certificates can be used as collateral to secure a loan at a competitive margin, providing added flexibility.

5. Treasury Management Services

Gesa offers a comprehensive suite of Treasury Management services tailored to streamline business operations and maximize financial efficiency.

These services include:

Online and mobile banking
Online bill pay
Sweeps (Automatic funds transfers to investment products)
ACH services
Wire transfers
Merchant services
Merchant Deposit Capture (MDC)
Electronic Federal Tax Payment System (EFTPS)

These Treasury Management services are designed to simplify financial processes, enhance cash flow management, and provide flexibility and convenience for businesses. And, Gesa’s dedicated Treasury Management Officers are available to assist with inquiries and provide personalized support to optimize business banking experiences.

6. Gesa Mobile App

Gesa digital banking mobile app is available on Google Play and the iOS app store. Users rave about Gesa Credit Union’s mobile app for its convenience and user-friendly interface. With the app, you can handle all your banking needs on the go – from transferring money between accounts to depositing checks and even applying for loans or credit cards.

Plus, Fast Balances lets you check your account snapshots without logging in. While some users have reported minor issues like slow loading times or search limitations, overall, Gesa’s app is a hit among members, making managing your finances a breeze wherever you are.

Gesa Credit Union Customer Service

Gesa’s member contact center, available Monday through Saturday, provides personalized assistance via phone and email, addressing various inquiries related to new accounts or loans, online banking, debit/ATM cards, account inquiries, stop payments, payments by phone, telephone banking, and general Gesa information.

In addition to traditional communication channels, Gesa also offers Live Chat support, available Monday through Saturday from 9:00 am to 5:00 pm Pacific Time—This feature enables quick access to assistance for inquiries such as branch locations, account balances, payment due dates, loan payment help from Gesa accounts, and general credit union questions.

Plus, Gesa recognizes the importance of feedback from its members and encourages business members to share their suggestions, appreciation, or concerns through the member feedback form.

This shows that they’re probably committed to continuously improving their services and ensuring that business members’ voices are heard and valued.

Overall, Gesa Credit Union offers a pretty robust customer service framework.

Gesa Credit Union Community Involvement

When you bank with a credit union that supports the local community, your funds contribute to initiatives that matter most to your small business customers.

Thankfully, Gesa Credit Union is committed to giving back to the community.

In 2022, they gave $3.8 million to local communities, including $630,000 in scholarships to local students and $1 million to local schools through their Affinity Card Program—These efforts extend to financial education, having reached over 55,000 participants since 2015 through various programs and seminars.

You might also like: Should You Open a Navy Federal Credit Union Business Account?

Frequently Asked Questions

What does Gesa Credit Union stand for?

In 1953, the General Electric Supervisor’s Association (GESA) established Gesa Federal Credit Union to serve the exempt employees of the Hanford contractor.

Does Gesa use Zelle?

Yes, Gesa offers the option for members to enroll in services provided by Zelle.

How much can you withdraw from Gesa ATMs?

You can withdraw up to $1K in a single day from an ATM, provided that your account has enough funds available.

Are accounts with Gesa Credit Union insured?

Yes, accounts with Gesa Credit Union are insured as Gesa is federally insured by the National Credit Union Administration (NCUA).

Does Gesa have a minimum balance on business accounts?

Yes, Gesa Credit Union has minimum balance requirements. To open a business checking account, there is a $100 requirement. And, a daily balance of $5K is required to waive the monthly service fee. The minimum to open a business savings account is $100, and you must maintain a minimum balance of $100 to avoid a service fee. Finally, to earn Annual Percentage Yield (APY), a minimum daily balance of $500 must be in the account each day.

Conclusion

Gesa Credit Union offers business members personalized service, competitive rates, and a range of financial products and services tailored to meet their needs.

While its limited branch network and membership eligibility criteria may pose some challenges, Gesa’s commitment to supporting small businesses and involvement in the community set it apart. As a federally insured institution, Gesa provides security and peace of mind for deposits, and its participation in networks like CO-OP Financial Services expands access to surcharge-free ATMs and branches nationwide.

However, while Gesa offers a ton of financial literacy resources, they don’t seem to have dedicated business financial education—while this isn’t a dealbreaker, I think it’s certainly worth mentioning.

Do you want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

Key Takeaways:

What Makes a Bank Good for Small Businesses?

Our Top 5 Small Business Bank Picks

1. Navy Federal Credit Union

2. Bank of America

3. PNC Bank

4. Novo Bank

5. TD Bank

Bonus: Some of Our Favorite Small Business Credit Cards

Frequently Asked Questions

Which bank is best for a business account?

Which is the quickest business account to open?

What type of account should an LLC open?

Are there business accounts for sole proprietors?

Final Thoughts

Key Takeaways

Amex Company Overview

The Amex Business Checking Account

The Introductory Bonus

Amex Checking Account Features

What is the Downside of American Express Checking?

Amex Business Checking App

Amex Business Checking Competitor Overview

Frequently Asked Questions

Does Amex business checking pull credit?

Does American Express business checking use Zelle?

Can you use Venmo with American Express?

How do I deposit cash into my American Express business checking account?

How much is 60K Amex points worth?

Final Takeaway: Is Amex Worth the Hype?

What is Gesa Credit Union?

Locations Served

Membership and Eligibility

Business Financial Products and Services

1. Business Banking/Checking

2. Business Credit Cards

3. Business Loans

4. Business Savings & Investment Opportunities

5. Treasury Management Services

6. Gesa Mobile App

Gesa Credit Union Customer Service

Gesa Credit Union Community Involvement

Frequently Asked Questions

What does Gesa Credit Union stand for?

Does Gesa use Zelle?

How much can you withdraw from Gesa ATMs?

Are accounts with Gesa Credit Union insured?

Does Gesa have a minimum balance on business accounts?

Conclusion

Business Credit Blog

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