Software your AI can run.
Bank shopping in Alaska? Read this first.
You came here comparing business banks. That's the old question. Holdings built a new category — invoicing that AI can run — and it's what most of the businesses using this comparison table end up on.
Updated August 2026 · 8 banks compared below
A different answer
Holdings isn't a bank.
It's software your AI can run.
The flagship is agentic invoicing — connect Claude, ChatGPT, or Cursor to your Holdings account via MCP and direct your AI to draft invoices, chase payments, and reconcile entries in plain English. No monthly fee. Card processing is 3% + $0.30 per payment collected. Accounting that auto-connects when you want it: $25/mo.
If you're bank-shopping because you're setting up a business, the question you probably actually have is: how do I get paid? Holdings answers that. It works on top of whichever bank you choose from the table below — pick the one that fits, then point your AI at Holdings to handle the rest.
Quick Comparison
These are the top 8 business banks in Alaska we compared, ranked by fees, APY, and features. Holdings is not a bank and not in this table — see what Holdings does instead →
| Bank | Type | Monthly Fee | APY |
|---|---|---|---|
| Holdings | Online | $0 | 1.75% |
| First National Bank Alaska Business First Checking | Regional | $7waivable | 0.00% |
| First National Bank Alaska Business Flat-Fee Checking | Regional | $12waivable | 0.00% |
| Global Credit Union (formerly Alaska USA)* | Credit Union | $0 | 0.00% |
| Chase Business Complete Banking | National | $15waivable | 0.00% |
| Wells Fargo Initiate Business Checking | National | $15waivable | 0.00% |
| Northrim Bank Business Checking* | Regional | $10waivable | 0.00% |
| Capital One Basic Business Checking | National | $15waivable | 0.00% |
* Rate and fee data sourced from each bank's published schedule. Verify before opening an account.
Detailed Reviews
Holdings
Online | $0/mo | Online only
Businesses wanting free banking + optional accounting from $25/mo
Key Features
- •Free: 48 free tools + $0 banking + 1.75% APY
- •Software ($25/mo): Full double-entry accounting, invoicing, P&L reports
- •Nonprofits: fund accounting at $25/mo + free verified profile & directory listing
Pros
- ✓$0 banking — no monthly fees, no minimums, no transaction fees
- ✓1.75% APY on every dollar — among the highest in business banking
- ✓48 free tools: invoices, estimates, payroll calculator, receipt scanner
- ✓Full accounting from $25/mo replaces QuickBooks
- ✓Free verified nonprofit profile + directory listing for 501(c)(3)s
Cons
- ✗No physical branches
- ✗Less name recognition than legacy banks
First National Bank Alaska Business First Checking
Regional | $7/mo | 30 branches
Alaska businesses needing branch access and local relationship banking
Key Features
- •Alaska's largest locally owned bank ($3.6B+ in assets)
- •30+ branches across Alaska from Anchorage to Fairbanks
- •FNBizApp mobile banking for on-the-go management
Pros
- ✓Largest locally owned bank in Alaska — deep community roots
- ✓Most extensive branch network in the state
- ✓Free online check images and mobile banking
Cons
- ✗$7/month fee unless $10,000 balance maintained
- ✗Only 100 free transactions; $0.25 each after
- ✗Limited presence outside Alaska
First National Bank Alaska Business Flat-Fee Checking
Regional | $12/mo | 30 branches
Higher-volume Alaska businesses needing more transactions
Key Features
- •400 free transactions per cycle for high-volume businesses
- •Predictable flat-fee structure
- •All standard FNBA digital banking tools included
Pros
- ✓400 free transactions — best for retail or service businesses
- ✓Lower minimum balance ($5,000) to waive fee than Business First
- ✓Same strong Alaska branch network
Cons
- ✗$12/month fee if balance drops below $5,000
- ✗$0.35 per transaction after 400
- ✗No interest earned on checking balance
Global Credit Union (formerly Alaska USA)
Credit Union | $0/mo | 20 branches
Alaska businesses wanting credit union rates and community banking
Key Features
- •One of the largest credit unions in the US (700,000+ members)
- •Rebranded from Alaska USA Federal Credit Union to Global Credit Union
- •Extensive ATM network and shared branching
Pros
- ✓Lower fees and better rates than most banks
- ✓Extensive branch and ATM network in Alaska
- ✓Member-owned with profits returned as better rates
Cons
- ✗Must qualify for membership
- ✗Digital banking tools less robust than national banks
- ✗Recent rebrand may cause confusion
Chase Business Complete Banking
National | $15/mo | 2 branches
Businesses needing national bank infrastructure and merchant services
Key Features
- •Built-in payment acceptance via Chase QuickAccept
- •Integrated invoicing and cash flow tools
- •Same-day deposits with QuickAccept
Pros
- ✓Largest bank in the US with robust digital tools
- ✓Excellent mobile app and business integrations
- ✓Integrated payment acceptance and invoicing
Cons
- ✗Very limited branch presence in Alaska
- ✗$15/month fee unless $2,000 balance maintained
- ✗Only 100 free transactions per cycle
Wells Fargo Initiate Business Checking
National | $15/mo | 8 branches
Alaska businesses wanting a national bank with local branch access
Key Features
- •Branch locations in Anchorage and other Alaska cities
- •Low $25 minimum opening deposit
- •Business Online banking with Zelle
Pros
- ✓More Alaska branch locations than most national banks
- ✓Very low $25 minimum to open
- ✓Strong digital banking platform
Cons
- ✗$15/month fee unless balance requirements met
- ✗Only 100 free transactions per cycle
- ✗Reputation concerns from past scandals
Northrim Bank Business Checking
Regional | $10/mo | 15 branches
Growing Alaska businesses needing commercial banking and lending
Key Features
- •Alaska-headquartered commercial bank ($2.7B+ in assets)
- •Strong commercial lending focus
- •Dedicated business bankers across Alaska
Pros
- ✓Alaska-headquartered with deep local market knowledge
- ✓Strong commercial and SBA lending programs
- ✓Dedicated relationship managers for business clients
Cons
- ✗Monthly fee applies without minimum balance
- ✗Smaller branch network than First National Bank Alaska
- ✗Less brand recognition outside Alaska
Capital One Basic Business Checking
National | $15/mo | Online only
Digital-first Alaska businesses with occasional cash deposit needs
Key Features
- •Unlimited fee-free digital transactions
- •$5,000/month free cash deposits
- •Cash deposits at select Allpoint ATMs
Pros
- ✓Unlimited digital transactions (no per-transaction fees)
- ✓Strong mobile and online banking
- ✓$5,000 free cash deposits monthly
Cons
- ✗No Capital One branch locations in Alaska
- ✗$15/month unless $2,000 balance maintained
- ✗Limited in-person support
Alaska Banking Landscape
17
FDIC-Insured Institutions
3+
Major Regional Banks
3+
Major Credit Unions
Top Regional Banks
- First National Bank Alaska — $3.6B
- Northrim Bank — $2.7B
- Mt. McKinley Bank — $400M
Top Credit Unions
- Global Credit Union (formerly Alaska USA) — 700,000+ members
- Alaska Federal Credit Union — 15,000+ members
- Credit Union 1 — 90,000+ members
State Banking Programs
- •Alaska Small Business Development Center (SBDC) — free counseling and training
- •Alaska Industrial Development and Export Authority (AIDEA) — loan participation and guarantees
- •SBA Alaska District Office — government-backed loan programs
- •Alaska Division of Economic Development — business assistance programs
Regulator: Alaska Division of Banking and Securities
Starting a Business in Alaska
| Secretary of State | Alaska Division of Corporations, Business and Professional Licensing |
| LLC Fee | $250 |
| Corp Fee | $250 |
| Income Tax | No personal income tax. Corporate income tax: 0% to 9.4% on taxable income. |
| Sales Tax | No state sales tax (some municipalities levy local sales taxes up to 7.5%) |
| Franchise Tax | None |
Business Incentives
- •No state personal income tax — attractive for business owners
- •No state sales tax — reduces retail business costs
- •Alaska Industrial Development and Export Authority financing
- •Alaska Small Business Development Center network — free consulting
- •Community Development Quota program for rural Alaska businesses
Nonprofit Banking in Alaska
Registration
File Articles of Incorporation (nonprofit) with Alaska Division of Corporations
Charitable Solicitation
Register with Alaska Department of Law, Consumer Protection Unit before soliciting donations in Alaska. Annual registration required.
Tax Exemption
Alaska has no state income tax or sales tax, so no separate state exemption is needed for income tax. Nonprofits may still apply for local property tax exemptions.
AG Reporting
Annual report to Division of Corporations. Charitable solicitation renewal with Department of Law annually.
Resources
- Foraker Group (Alaska Nonprofit Support) →
- Alaska Department of Law — Charity Registration →
- Alaska Division of Corporations →
For Alaska nonprofits
Invoicing that AI can run — built for 501(c)(3)s too.
Direct your AI to send donation acknowledgment invoices, track grant receivables, and keep your books current — no monthly fee for invoicing. Works on top of whichever bank your organization uses. Accounting add-on from $25/mo.
Holdings for nonprofits →Where Holdings fits for Alaska businesses
Whichever bank you pick from the list above, Holdings runs alongside it: direct Claude, ChatGPT, or Cursor to draft invoices, chase payments, and keep your books current. No monthly fee · 3% + $0.30 per payment collected.
See how agentic invoicing works →Frequently Asked Questions
What is the best bank for a small business in Alaska?
The best bank depends on your needs. For nonprofits and small orgs wanting zero fees, Holdings offers $0 monthly fees with 1.75% APY. For businesses needing branch access, First National Bank Alaska is the largest locally owned bank with 30+ branches statewide. For credit union banking, Global Credit Union (formerly Alaska USA) offers competitive rates.
Can I open a business bank account online in Alaska?
Yes. Several banks allow online account opening for Alaska businesses, including Holdings (fully online, no branch visit required), Chase, and Capital One. Local institutions like First National Bank Alaska and Global Credit Union typically require an in-person visit.
What do I need to open a business bank account in Alaska?
You'll typically need your EIN (Employer Identification Number), Articles of Organization filed with the Alaska Division of Corporations, a government-issued photo ID, and your business license. Some banks also require an initial deposit.
Are credit unions better than banks for small businesses in Alaska?
Credit unions often offer lower fees and better rates, but may have fewer digital tools. Global Credit Union (formerly Alaska USA) is one of the largest credit unions in the country with strong Alaska presence, while smaller credit unions like Alaska Federal Credit Union offer personalized service.
What are the cheapest business checking accounts in Alaska?
Holdings offers completely free business checking with no monthly fees, no minimum balance, and no transaction limits. NBKC Bank also offers fee-free business checking online. Among local banks, First National Bank Alaska's Business First Checking is $7/month, waivable with a $10,000 balance.
Do Alaska nonprofits need a special bank account?
While not legally required, a dedicated nonprofit bank account helps with IRS compliance, transparency, and donor confidence. Holdings specializes in nonprofit banking with $0 fees, 1.75% APY, and tools built specifically for 501(c)(3) organizations.
Does Alaska have a state income tax for businesses?
Alaska has no personal income tax, but corporations doing business in Alaska are subject to a corporate income tax ranging from 0% to 9.4% on taxable income. Alaska also has no state sales tax, though some municipalities levy local sales taxes.
Or skip the bank comparison.
Try software your AI can run.
Invoicing, payment links, and connected accounting — directed by Claude, ChatGPT, or Cursor. No monthly fee to start.
Not ready to switch yet? Use a free tool now
Built by Holdings — the banking + accounting platform that keeps businesses and nonprofits audit-ready. Free, no account needed. Connect banking and let your books run themselves when you’re ready.
Ready to stop doing it by hand? Explore Invoicing software for small business, Small business accounting software, or Small business bookkeeping software.
Explore More
Agentic Invoicing — Let any AI send your invoices
The Invoicing MCP
Plans & Pricing
Transparent pricing with zero hidden fees.
Best Banks for Business (National)
All Comparisons
Best Banks in Washington
Best Banks in Hawaii
Banking by Org Type
Connected Accounting
Automatic categorization, P&L, and balance sheets.
Bookkeeping That Runs Itself
Professional bookkeepers manage your books monthly.