Software your AI can run.
Bank shopping in Delaware? 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 Delaware 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% |
| WSFS Bank Small Business Checking | Regional | $10waivable | 0.00% |
| M&T Bank Business Essential Checking | Regional | $5waivable | 0.00% |
| Chase Business Complete Banking | National | $15waivable | 0.00% |
| Bank of America Business Advantage Fundamentals | National | $16waivable | 0.00% |
| TD Bank Business Simple Checking* | National | $10waivable | 0.00% |
| Delaware Federal Credit Union* | Credit Union | $0 | 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
WSFS Bank Small Business Checking
Regional | $10/mo | 50 branches
Delaware businesses wanting the largest local bank with low fees
Key Features
- •Delaware's largest locally-headquartered bank (Wilmington)
- •Low $500 balance to waive monthly fee
- •WSFS Business Mobile App for on-the-go banking
Pros
- ✓Delaware's #1 locally-headquartered bank
- ✓Very low $500 balance to waive $10 monthly fee
- ✓Strong community focus and local business support
Cons
- ✗Limited presence outside Delaware/Pennsylvania/New Jersey
- ✗Digital tools improving but behind national banks
- ✗$10/month fee if balance drops below $500
M&T Bank Business Essential Checking
Regional | $5/mo | 30 branches
Small businesses wanting low-cost traditional banking with branch access
Key Features
- •Low $5 monthly fee, easily waivable
- •No minimum opening deposit
- •Multiple ways to waive fee (balance or debit card)
Pros
- ✓Very low $5 monthly fee — multiple ways to waive
- ✓No minimum opening deposit
- ✓Strong regional presence in Mid-Atlantic
Cons
- ✗Only 100 free transactions on Essential tier
- ✗Limited cash deposit allowance
- ✗Need Business Plus ($7,500 balance) for more features
Chase Business Complete Banking
National | $15/mo | 20 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
- ✓Excellent mobile app and digital tools
- ✓Integrated payment acceptance and invoicing
- ✓Largest ATM network nationally
Cons
- ✗$15/month fee unless $2,000 balance maintained
- ✗Only 100 free transactions per cycle
- ✗Fewer branches in Delaware than WSFS or M&T
Bank of America Business Advantage Fundamentals
National | $16/mo | 25 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 digital payment tools and Zelle integration
Cons
- ✗$16/month fee after first year
- ✗Higher minimum balance to waive fees permanently
- ✗Moderate branch presence in Delaware
TD Bank Business Simple Checking
National | $10/mo | 30 branches
Businesses that value extended hours and convenience
Key Features
- •Strong Mid-Atlantic presence with Delaware branches
- •Extended hours — 'America's Most Convenient Bank'
- •Low minimum balance to waive fees
Pros
- ✓Extended branch hours including weekends
- ✓Low $500 balance to waive monthly fee
- ✓Good Mid-Atlantic branch coverage
Cons
- ✗Only 100 free transactions
- ✗Limited cash deposit allowance
- ✗Digital tools behind Chase and BofA
Delaware Federal Credit Union
Credit Union | $0/mo | 8 branches
Delaware businesses wanting fee-free community credit union banking
Key Features
- •Community credit union serving Delaware since 1953
- •No monthly fees on business checking
- •Shared branching and surcharge-free ATM access
Pros
- ✓No monthly service fees
- ✓Community-focused with local decision-making
- ✓Access to shared branching and surcharge-free ATMs
Cons
- ✗Small branch network
- ✗Must qualify for membership (live/work in Delaware)
- ✗Limited digital banking features
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 Delaware
- ✗$15/month unless $2,000 balance maintained
- ✗Limited in-person support
Delaware Banking Landscape
17
FDIC-Insured Institutions
3+
Major Regional Banks
3+
Major Credit Unions
Top Regional Banks
- WSFS Financial Corporation (WSFS Bank) — $20B+
- Artisans' Bank — $1.5B
- County Bank (formerly The County Bank) — $500M
Top Credit Unions
- Delaware Federal Credit Union — 30,000+ members
- First State Federal Credit Union — 25,000+ members
- Dexsta Federal Credit Union — 20,000+ members
State Banking Programs
- •Delaware Small Business Development Center (SBDC) — free counseling and training
- •Delaware Division of Small Business — START initiative
- •Delaware Strategic Fund — grants and loans for job creation
- •SBA Delaware District Office — government-backed loan programs
Starting a Business in Delaware
| Secretary of State | Delaware Division of Corporations |
| LLC Fee | $90 (Certificate of Formation filing fee) |
| Corp Fee | $89 (minimum, based on authorized shares) |
| Income Tax | Graduated personal income tax: 2.2%–6.6%. Corporate income tax: 8.7%. |
| Sales Tax | No state sales tax (one of 5 states with no sales tax) |
| Franchise Tax | LLCs: $300/year flat franchise tax. Corporations: minimum $175 (Authorized Shares Method) or $400 (Assumed Par Value Method), up to $200,000 max. |
Business Incentives
- •No state sales tax — major advantage for retail businesses
- •Delaware Strategic Fund — grants for job creation and capital investment
- •Bank and financial services incentives — Delaware is a financial services hub
- •Small Business Development Center network — free consulting
- •Court of Chancery — specialized business court for fast dispute resolution
Nonprofit Banking in Delaware
Registration
File Certificate of Incorporation (nonprofit) with Delaware Division of Corporations
Charitable Solicitation
Register with Delaware Department of Justice, Fraud and Consumer Protection Division before soliciting. File Form CHS-1.
Tax Exemption
Delaware has no sales tax, so no sales tax exemption needed. Apply to Delaware Division of Revenue for corporate income tax exemption.
AG Reporting
Annual financial report to Delaware Department of Justice. Due within 6 months of fiscal year end.
Resources
- Delaware Alliance for Nonprofit Advancement (DANA) →
- Delaware Department of Justice — Charities →
- Delaware Division of Corporations →
For Delaware 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 Delaware 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 Delaware?
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, WSFS Bank and M&T Bank have strong Delaware presence. For the lowest-cost option, WSFS Small Business Checking waives fees with just $500 balance.
Can I open a business bank account online in Delaware?
Yes. Several banks allow online account opening for Delaware businesses, including Holdings (fully online, no branch visit required), Chase, Bank of America, and Capital One. WSFS Bank and M&T Bank offer both online and in-branch account opening.
What do I need to open a business bank account in Delaware?
You'll typically need your EIN (Employer Identification Number), Certificate of Formation filed with the Delaware 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 Delaware?
Credit unions often offer lower fees and better rates, but may have fewer branches. Delaware credit unions like Delaware Federal Credit Union and First State Federal Credit Union are solid options for local businesses, while banks like WSFS offer broader business services.
What are the cheapest business checking accounts in Delaware?
Holdings offers completely free business checking with no monthly fees, no minimum balance, and no transaction limits. WSFS Bank Small Business Checking waives its $10 fee with just a $500 average balance. M&T Bank Business Essential Checking waives fees with $1,000 balance.
Do Delaware 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.
Why do so many businesses incorporate in Delaware?
Delaware's Court of Chancery (specialized business court), well-established corporate law, privacy protections, and business-friendly regulatory environment make it the top state for incorporation. Over 60% of Fortune 500 companies are incorporated in Delaware. However, if you operate in another state, you'll likely need to register there too.
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
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