Software your AI can run.
Bank shopping in Arizona? 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 Arizona 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% |
| National Bank of Arizona Business Checking* | Regional | $12waivable | 0.00% |
| Chase Business Complete Banking | National | $15waivable | 0.00% |
| Desert Financial Credit Union Business Checking* | Credit Union | $0 | 0.00% |
| Bank of America Business Advantage Fundamentals | National | $16waivable | 0.00% |
| Wells Fargo Initiate Business Checking | National | $15waivable | 0.00% |
| America First Credit Union Business Checking* | Credit Union | $0 | 0.05% |
| 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
National Bank of Arizona Business Checking
Regional | $12/mo | 60 branches
Arizona businesses wanting a locally-focused bank with commercial banking capabilities
Key Features
- •Division of Zions Bancorporation with deep Arizona roots
- •Strong commercial lending and treasury management
- •Local decision-making with national resources
Pros
- ✓Arizona-focused with strong local relationships
- ✓Part of Zions Bancorporation — solid financial backing
- ✓Strong SBA lending program
Cons
- ✗Monthly fee without minimum balance
- ✗Less advanced digital tools than Chase or BofA
- ✗Limited presence outside Arizona
Chase Business Complete Banking
National | $15/mo | 175 branches
Established businesses needing full-service branch banking 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 branch and ATM network in Arizona
- ✓Excellent mobile app and digital tools
- ✓Integrated payment acceptance and invoicing
Cons
- ✗$15/month fee unless $2,000 balance maintained
- ✗Only 100 free transactions per cycle
- ✗No interest earned on business checking
Desert Financial Credit Union Business Checking
Credit Union | $0/mo | 50 branches
Phoenix-area businesses wanting fee-free credit union banking
Key Features
- •Largest credit union in Arizona with 400,000+ members
- •Free checking with no monthly fees
- •50+ branch locations across metro Phoenix
Pros
- ✓No monthly service fee
- ✓Arizona's largest credit union with extensive branch network
- ✓Access to CO-OP Shared Branch and ATM networks
Cons
- ✗Concentrated in metro Phoenix area
- ✗Must qualify for membership (live/work in Arizona)
- ✗Less advanced business digital tools than national banks
Bank of America Business Advantage Fundamentals
National | $16/mo | 100 branches
Businesses that qualify for Preferred Rewards tier benefits
Key Features
- •200 free transactions per statement cycle
- •No monthly fee for first 12 statement cycles
- •Preferred Rewards for Business program for rate discounts
Pros
- ✓200 free transactions (more than Chase)
- ✓First year free (no monthly fee for 12 cycles)
- ✓Strong Arizona branch presence
Cons
- ✗$16/month fee after first year
- ✗Higher minimum balance to waive fees permanently
- ✗Less personal service than regional banks
Wells Fargo Initiate Business Checking
National | $15/mo | 120 branches
New businesses wanting a national bank with low opening deposit
Key Features
- •Low $25 minimum opening deposit
- •Contactless debit card and digital wallet support
- •Business Online banking with Zelle
Pros
- ✓Very low $25 minimum to open
- ✓Strong Arizona branch presence
- ✓Multiple ways to waive monthly fee
Cons
- ✗$15/month fee unless balance maintained
- ✗Only 100 free transactions per cycle
- ✗Past consumer trust issues
America First Credit Union Business Checking
Credit Union | $0/mo | 15 branches
Arizona businesses wanting a credit union with dividend-earning checking
Key Features
- •Fee-free business checking that earns dividends
- •120+ branches across Utah, Nevada, and Arizona
- •Part of CO-OP Shared Branch network
Pros
- ✓No monthly fee and earns dividends on balances
- ✓Access to CO-OP Shared Branch and ATM networks
- ✓Free online bill pay and business debit card
Cons
- ✗Higher minimum opening deposit ($2,000)
- ✗Only 50 free check transactions per month
- ✗Fewer Arizona branches than Desert Financial
Capital One Basic Business Checking
National | $15/mo | Online only
Digital-first 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 Arizona
- ✗$15/month unless $2,000 balance maintained
- ✗Limited in-person support
Arizona Banking Landscape
55
FDIC-Insured Institutions
3+
Major Regional Banks
3+
Major Credit Unions
Top Regional Banks
- National Bank of Arizona (Zions Bancorporation) — $4B
- Western Alliance Bank — $80B
- Alliance Bank of Arizona — $4B
Top Credit Unions
- Desert Financial Credit Union — 400,000+ members
- Arizona Federal Credit Union — 160,000+ members
- OneAZ Credit Union — 170,000+ members
State Banking Programs
- •Arizona Small Business Development Center (SBDC) — free consulting
- •Arizona Commerce Authority — business incentives and grants
- •Arizona Innovation Challenge — seed funding for startups
- •SBA Arizona District Office — government-backed loan programs
Regulator: Arizona Department of Insurance and Financial Institutions
Starting a Business in Arizona
| Secretary of State | Arizona Corporation Commission |
| LLC Fee | $50 |
| Corp Fee | $60 |
| Income Tax | Flat 2.5% individual income tax. Corporate: 4.9%. |
| Sales Tax | Transaction Privilege Tax (TPT): 5.6% state + up to 5.3% local (varies by city) |
| Franchise Tax | None |
Business Incentives
- •Arizona Commerce Authority — business attraction incentives
- •Quality Jobs Tax Credit — income tax credit for net new qualifying jobs
- •R&D Tax Credit — for qualified research expenses
- •Opportunity Zones — significant federal tax benefits in designated areas
- •Arizona's flat 2.5% income tax rate — among the lowest in the nation
Nonprofit Banking in Arizona
Registration
File Articles of Incorporation (nonprofit) with Arizona Corporation Commission
Charitable Solicitation
Arizona no longer requires charitable solicitation registration for most charities (repealed September 2013). Some veterans' organizations may still need to register with the Secretary of State.
Tax Exemption
Apply to Arizona Department of Revenue for TPT (sales tax) exemption. Arizona recognizes federal 501(c)(3) status. Nonprofits must apply separately for property tax exemption.
AG Reporting
No state-level charitable solicitation annual reporting required (since 2013 repeal). However, nonprofits must file annual reports with the Arizona Corporation Commission to maintain good standing.
Resources
For Arizona 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 Arizona 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 Arizona?
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, National Bank of Arizona and Chase have strong Arizona presence. Desert Financial Credit Union offers competitive fee-free options.
Can I open a business bank account online in Arizona?
Yes. Several banks allow online account opening for Arizona businesses, including Holdings (fully online, no branch visit required), Chase, Bank of America, and Capital One. Credit unions like Desert Financial may require an in-person visit.
What do I need to open a business bank account in Arizona?
You'll typically need your EIN (Employer Identification Number), Articles of Organization filed with the Arizona Corporation Commission, 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 Arizona?
Credit unions often offer lower fees and better rates, but may have fewer branches. Arizona credit unions like Desert Financial (400,000+ members) and Arizona Federal Credit Union are excellent options for local businesses, while national banks offer broader ATM networks and more advanced digital tools.
What are the cheapest business checking accounts in Arizona?
Holdings offers completely free business checking with no monthly fees, no minimum balance, and no transaction limits. Desert Financial Credit Union's business checking is also fee-free. National Bank of Arizona offers competitive business checking for Arizona-focused businesses.
Do Arizona 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.
What taxes do small businesses pay in Arizona?
Arizona has a flat income tax rate of 2.5% (as of 2023). The state uses a Transaction Privilege Tax (TPT) instead of a traditional sales tax, with a base rate of 5.6% plus local additions. There is no franchise tax. Arizona's corporate income tax is 4.9%.
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.
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Agentic Invoicing — Let any AI send your invoices
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Transparent pricing with zero hidden fees.
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