Best Bank Account for Small Businesses: A Guide for Ecommerce & Local Shops
Best Bank Account for Small Businesses: A Guide for Ecommerce & Local Shops
Choosing the best bank account for small businesses is a foundational step for any entrepreneur—whether you’re starting an ecommerce store from scratch or expanding a physical location to include online sales. The right business bank account can simplify cash flow, reduce fees, and unlock funding options tailored to your growth goals.
With options ranging from large national banks to local Philadelphia institutions and digital-first neobanks, it’s important to understand your priorities—and what each bank offers.
What to Look for in the Best Bank Account for Small Businesses
Your business bank account needs to work as hard as you do. Here are the most important things to consider:
- Monthly Fees & Minimum Balances: Some banks require a minimum balance to waive monthly maintenance fees. Newer businesses with fluctuating revenue should pay close attention here.
- Digital Access & Integrations: Ecommerce businesses thrive on efficiency. Banks that integrate with Shopify, QuickBooks, Stripe, or other ecommerce tools can save hours of manual work.
- Merchant Services & Payment Tools: Look for banks that offer POS systems, invoicing, or credit card processing. This is key if you’re selling online or in person.
- Lending & Credit Lines: Access to capital—whether through lines of credit, SBA loans, or working capital financing—is crucial when it’s time to grow.
- Customer Service & Support: Business banking is more complex than personal banking. Having dedicated support (or a relationship manager) can be a major advantage.
Local Options: Best Bank Account for Small Businesses in Philadelphia
If you’re a Philly-based entrepreneur, working with a local banking partner can give you an edge. Not only do these banks understand the regional market—they’re often more flexible and community-oriented.
Here are four standout banks that support small businesses across the city:
Univest Bank
Offers business checking accounts with low fees, strong online tools, and local business support. Great for startups looking for personal service and merchant solutions.
Fulton Bank
Known for a wide selection of business products and SBA lending expertise. They also offer digital banking tools that support ecommerce growth.
Citizens Bank
A solid regional option with physical branches, lending solutions, and treasury management services. Especially good for businesses transitioning from personal to business banking. And of course proud sponsors of the Philadelphia Phillies with Citizens Bank Park!
United Bank of Philadelphia
As a minority-owned community development financial institution (CDFI), United Bank of Philadelphia supports underserved entrepreneurs with tailored banking services.
These local institutions might not always have the flashiest apps—but they offer deep roots and real relationships.
Online-Only and Neo Banks: Digital Options for Ecommerce
For online-first or tech-savvy businesses, digital banks can be a perfect match. They often offer low or no fees, fast onboarding, and smooth integrations.
Mercury
Loved by startups and ecommerce founders for its clean interface, fee-free structure, and integration with platforms like Stripe, PayPal, and QuickBooks.
Relay
Offers multiple checking accounts and user permissions, which is great for teams. Also includes bill pay, bookkeeping integration, and no monthly fees.
Bluevine
Unique for offering business checking with interest (up to 2.0% APY) and lines of credit. Ideal for ecommerce shops that want to grow fast and maximize their cash.
Tradeoffs to Consider:
- No physical branches
- Limited cash deposit options
- Customer service varies
Still, for many ecommerce businesses, these banks offer unmatched flexibility and speed.
Best Bank Account for Small Businesses 2025: What’s New?
As we head deeper into 2025, here are the trends shaping how small businesses choose their banking partners:
- AI-Powered Tools: Expect more banks to offer AI features like automated cash flow forecasting or smart budgeting tools.
- Faster Funding: Banks that offer same-day deposits or instant access to capital will stand out in 2025.
- Embedded Finance: Look for integrations directly within ecommerce platforms—where your store and your bank account start to feel like one system.
- Sustainability and DEI-Focused Banking: Small businesses are increasingly supporting banks that reflect their values—whether it’s minority-owned banks or institutions focused on ESG.
In 2025, the best bank account for small businesses won’t just be about checking or savings—it will be about the full ecosystem of tools, access, and values your business needs to thrive.
Final Takeaway: Which Business Bank Account Is Right for You?
There’s no one-size-fits-all when it comes to finding the best bank account for small businesses. Here’s a quick breakdown to guide your next step:
| Business Type | Recommended Option |
|---|---|
| New Ecommerce Startup | Mercury, Bluevine |
| Local Retail Shop | Univest, Citizens Bank |
| Scaling Hybrid Business | Fulton Bank, Relay |
| Underserved Founder | United Bank of Philadelphia |
Think about your business stage, your priorities (fees, service, integrations), and the kind of relationship you want to build. The right bank can be more than just a service provider—it can be a real partner in your growth.
Once you have your business bank account set up, you should start a website to make it official! We’re here to help you on your journey to success!
