Weigh the features most important to you when choosing a bank for your business, whether those be branch locations, cash deposits, customer support or account flexibility. While online banks score points for minimal fees and easy accessibility, live customer support can be lacking. Brick-and-mortar banks typically have more fees and restrictions but offer a wide range of business services — and likely have a branch in your area if you want to talk to a banker in person.
Here are our picks for the best overall banks available to small businesses in North Carolina, plus some local options worth considering. Note that most of the star ratings on this list are specific to the bank’s business checking account, not the overall institution. The exception is Live Oak Bank, which we’ve highlighted for its standout business savings account.
Best banks for business accounts in North Carolina
Best for: 24/7 customer support
5
Online banks can often fall short on live customer support. Not Axos. This online-only bank offers live, 24/7 phone support for business customers. Other standout features include the ability to easily make cash deposits at compatible ATMs and automatic refunds of any ATM fees, including those charged by third-party operators.
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Two business checking accounts: one free and one interest-earning account.
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Business Interest Checking is $
10
per month unless you maintain an average daily balance of $
5000
. The account earns up to
1.01%
APY.
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Basic Business Checking has no monthly fee or minimum opening deposit requirement and includes unlimited fee-free transactions.
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No ATM fees, regardless of the ATM you use, plus unlimited rebates for ATM fees you incur from other banks.
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Both accounts allow cash deposits via compatible AllPoint and MoneyPass ATMs.
Additional services
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Business savings accounts, money market accounts and certificates of deposit.
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Merchant services, including point-of-sale systems, e-commerce solutions, and credit and debit card acceptance through Cerelo Merchant Services.
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Small-business loans, including SBA 7(a) loans, real estate and equipment financing, and working capital loans.
Best for: High-yield business savings + SBA loans
5
4.00%
APY and multiple business CD options that earn at least 5.00% APY as of this writing.
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Three business checking options.
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Business Essential Checking has a $10 monthly fee (waived with $1,000 average daily balance) and no monthly transaction limits.
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Live Oak does not support cash deposits; accounts can be funded via ACH, wire transfer or check.
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No weekend customer support.
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Fee-free access to more than 55,000 AllPoint ATMs (savings accounts don’t have ATM access).
Additional services:
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High-yield savings account that earns
4.00%
APY on all balances, with no monthly fee or minimum deposit.
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A cash sweep account that provides FDIC insurance for up to $10 million in deposits.
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Business CDs that earn upwards of 5.00% APY.
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Issued more SBA 7(a) loans by dollar amount than any other lender in 2023.
Best for: No-fee business banking checking
4.9
NBKC’s free business checking is an attractive option for business owners in North Carolina who won’t mind a fully online banking experience. NBKC has only four branch locations, and they’re all in the Kansas City area. However, customers can access their account through NBKC’s mobile app and website, as well as 34,000+ MoneyPass ATMs (which include numerous locations at Han-Dee Hugo’s, Sheetz and 7-Eleven).
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Free business checking account that can be opened online anywhere in the U.S.
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Account includes unlimited fee-free transactions and no incoming domestic wire fees, overdraft, stop payment or similar incidental fees.
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Fee-free access to over 37,000 MoneyPass ATMs across the country; up to $12 in monthly refunds for ATM fees charged by other banks worldwide.
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Ability to deposit cash fee-free at eligible MoneyPass ATMs using your NBKC business debit card.
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Free online and mobile banking with mobile check deposit and online bill pay included.
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Option to customize your checking account by adding desktop deposit, ACH credit and debits, merchant processing and Autobooks invoicing software.
Additional services
Best for: Non-bank option for small businesses
4.7
Earn 2.00% interest on account balances up to and including $250,000. Terms apply.
Beyond business checking, Bluevine also offers business lines of credit and (currently by invitation only) a newly launched business credit card.
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Bluevine Standard: No monthly fee, minimum deposit, overdraft fees or transaction limits.
Earn 2.00% interest on account balances up to and including $250,000. Terms apply.
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Bluevine Premier: Earns 4.25% APY on balances up to $3 million (terms apply). Monthly fee of $95 is waived if you meet daily balance and spending requirements. Premier customers receive discounted wire and same-day ACH transfers.
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One-time and recurring bill payments via ACH, wire transfer or check.
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No ATM fees at more than 37,000 MoneyPass ATMs.
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Cash deposits available via Green Dot and compatible AllPoint+ ATMs. Fees and limits apply.
Additional services:
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Business lines of credit up to $250,000.
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Cash-back business credit card available for eligible Bluevine business checking customers (by invitation only).
Best for: All-in-one business bank
4.5
Chase’s entry-level business bank account packs in a lot of useful business features, including unlimited electronic transactions and integrated payment processing via the Chase mobile app. While Chase is a huge national bank, it may not be the best option for in-person banking depending on where your business is in North Carolina. There are only about 30 branches in the state, primarily in larger cities like Raleigh, Durham, Charlotte and Greensboro.
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Chase Business Complete Checking℠ is $15 per month, but there are multiple ways to avoid the fee.
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Unlimited electronic deposits. In-person and paper transactions are limited to 20 per month for Chase Business Complete and 250 per month for Chase Performance Business Checking®.
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Payment processing through the Chase mobile app with QuickAccept℠, no additional point-of-sale equipment needed.
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Live customer service available by phone 24/7.
Additional services:
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A full suite of Chase Ink business rewards credit cards, which offer generous sign-up bonuses, as well as other Chase business credit cards.
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A variety of small-business loans, including lines of credit, equipment financing and SBA loans.
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Chase offers payment services for e-commerce and retail businesses, including Chase QuickAccept, which lets business owners accept credit card payments from the mobile app.
Best for: Cash deposits + loyalty rewards
4.5
Bank of America’s Business Advantage Fundamentals checking account includes up to $7,500 in cash deposits per month — that is substantially higher than other brick-and-mortar banks, which typically cap monthly cash deposits at anywhere from $2,500 to $5,000. Bank of America also rewards customers who keep their business in-house, with perks like higher savings and cash-back rates on certain products via its Preferred Rewards for Business program.
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Two account options with respective fees of $
16
and $29.95 per month, though both can be waived if you meet average monthly balance requirements. Both require a minimum opening deposit of $100.
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Bank of America Business Advantage Fundamentals Banking includes unlimited electronic transactions, up to 200 fee-free non-electronic transactions (checks paid, other debits, deposited items) and up to $7,500 in fee-free cash deposits per statement cycle.
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Opportunity to earn a welcome bonus. Terms apply.
Additional services:
Navy Federal Credit Union
Best for: Military member, veterans and their families
4.2
Navy Federal Credit Union caters specifically to the military community. You can choose from multiple business checking and savings options, and can get access to a variety of business loans, if you qualify. Beyond that, Navy Federal’s business specialists can help you tap in to the network of resources available for veteran-owned businesses.
Best for: Branch access + business loans
4
Wells Fargo has more than 200 branches across North Carolina and offers a wide range of banking services — including business checking, savings and financing options — for business owners who prefer to bank in person.
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Three business checking accounts with monthly maintenance fees ranging from $10 for the bank’s entry-level checking account (Initiate Business Checking) to $75 for a premium checking account that earns credits to offset fees (Optimize Business Checking).
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Transaction limits range from 100 to 250 per month, depending on the account. Wells Fargo counts all withdrawals, debits and deposits, including mobile deposits, toward your transaction limit. Debit card purchases and payments do not count toward the limit.
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Up to $20,000 in cash deposits per month, depending on the account type.
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All business checking accounts can be opened online, over the phone or by visiting a branch.
Additional services:
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Small-business loans, including commercial real estate and equipment financing. Wells Fargo also offers SBA loans.
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Profit-sharing, 401(k) and IRA options for business owners and their employees.
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Point-of-sale systems available through Clover.
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Payroll services available through ADP.
Best for: In-person banking in North Carolina
3.5
Truist Bank has nearly 300 branch locations across North Carolina, making it a standout option for business owners who prefer to bank in person. While Truist’s free business checking account leaves a lot to be desired — the transaction limits are particularly stingy compared with competitors — the bank’s Dynamic Business Checking gives you more runway and it’s relatively easy to avoid the monthly fee.
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Three business checking account options, including a free account for nonprofit organizations.
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Transaction limits range from 50 to 500 per month, depending on the account. Virtually all deposits, debits and transfers count toward your transaction limit.
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Business accounts can be opened entirely online.
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Access to more than 3,000 Truist Bank ATMs; fee for using out-of-network ATMs.
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Business savings, money market and certificates of deposit available.
Additional services:
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Business credit cards that offer rewards boost for Truist business checking customers.
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Multiple business loan options, including term loans, equipment loans and business lines of credit.