Software your AI can run.
Bank shopping in Missouri? 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 Missouri 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% |
| Commerce Bank myBusiness Checking | Regional | $5waivable | 0.00% |
| Arvest Bank Free Small Business Checking | Regional | $0 | 0.00% |
| UMB Essential Business Checking* | Regional | $10waivable | 0.00% |
| Chase Business Complete Banking | National | $15waivable | 0.00% |
| Bank of America Business Advantage Fundamentals | National | $16waivable | 0.00% |
| Wells Fargo Initiate Business Checking | National | $15waivable | 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
Commerce Bank myBusiness Checking
Regional | $5/mo | 120 branches
Missouri small businesses with low transaction volume wanting a trusted local bank
Key Features
- •Missouri-headquartered bank (Kansas City) with deep local roots
- •$0/month fee easily waived with personal checking link
- •Free unlimited Commerce ATM transactions
Pros
- ✓Very low $0/month fee, easily waived
- ✓Strong Missouri presence with 100+ branches statewide
- ✓Debit card purchases don't count toward transaction limits
Cons
- ✗Only 25 free transactions per cycle ($0.50 each after)
- ✗No interest on business checking
- ✗Limited presence outside the Midwest
Arvest Bank Free Small Business Checking
Regional | $0/mo | 25 branches
Small to mid-sized Missouri businesses wanting free checking with generous limits
Key Features
- •200 free items per monthly statement cycle
- •Free debit card with flexible spending limits
- •Free online bill pay (up to 15 payments/month)
Pros
- ✓No monthly service fee
- ✓200 free transactions per month — among the most generous
- ✓Overdraft protection available up to $400
Cons
- ✗$0.50 per item over 200 transactions
- ✗Fewer Missouri branches than Commerce or UMB
- ✗Primarily concentrated in western Missouri/NW Arkansas
UMB Essential Business Checking
Regional | $10/mo | 45 branches
Growing Missouri businesses needing commercial banking services
Key Features
- •Kansas City-headquartered bank with strong Missouri commercial banking
- •Multiple fee waiver options with low thresholds
- •Strong cash management and treasury services
Pros
- ✓Low balance threshold to waive monthly fee ($500)
- ✓Strong commercial lending and advisory services
- ✓Headquartered in Kansas City with deep Missouri roots
Cons
- ✗Monthly fee applies without minimum balance
- ✗Fewer branches than Commerce Bank
- ✗Less robust digital tools for very small businesses
Chase Business Complete Banking
National | $15/mo | 80 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
- ✓Large branch and ATM network across Missouri
- ✓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
Bank of America Business Advantage Fundamentals
National | $16/mo | 45 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 integration with Zelle and digital payment tools
Cons
- ✗$16/month fee after first year
- ✗Higher minimum balance to waive fees permanently
- ✗Fewer branches than Chase or Commerce in Missouri
Wells Fargo Initiate Business Checking
National | $15/mo | 35 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 digital banking platform
- ✓Multiple ways to waive monthly fee
Cons
- ✗$15/month fee unless balance maintained
- ✗Only 100 free transactions per cycle
- ✗Fewer MO branches than Chase or Commerce
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 Missouri
- ✗$15/month unless $2,000 balance maintained
- ✗Limited in-person support
Missouri Banking Landscape
280
FDIC-Insured Institutions
3+
Major Regional Banks
3+
Major Credit Unions
Top Regional Banks
- Commerce Bancshares — $37B
- UMB Financial Corporation — $43B
- Arvest Bank — $26B
Top Credit Unions
- Together Credit Union — 150,000+ members
- CommunityAmerica Credit Union — 300,000+ members
- Central Bank of the Ozarks — 100,000+ members
State Banking Programs
- •Missouri Small Business Development Center (SBDC) — free consulting and training
- •Missouri Department of Economic Development — business incentives
- •Missouri Technology Corporation — funding for tech startups
- •SBA Missouri District Office — government-backed loan programs
Regulator: Missouri Division of Finance
Starting a Business in Missouri
| Secretary of State | Missouri Secretary of State |
| LLC Fee | $50 (online) |
| Corp Fee | $58 |
| Income Tax | Personal: 2%–4.95%. Corporate: 4% of net income. |
| Sales Tax | 4.225% state + up to 5.763% local (9.988% max combined) |
| Franchise Tax | None (Missouri repealed franchise tax in 2024) |
Business Incentives
- •Missouri Works — tax credits for job creation
- •Missouri BUILD Program — infrastructure development
- •Missouri Small Business Development Center network — free consulting
- •Kansas City and St. Louis Earnings Tax consideration (1% on income earned within city limits)
- •Enhanced Enterprise Zone tax credits
Nonprofit Banking in Missouri
Registration
File Articles of Incorporation (nonprofit) with Missouri Secretary of State
Charitable Solicitation
Register with the Missouri Attorney General's Office before soliciting. Registration fee is $15. Annual renewal required with financial reporting due within 75 days of fiscal year end.
Tax Exemption
Apply to Missouri Department of Revenue for state sales tax exemption using Form 1746. Missouri recognizes federal 501(c)(3) status.
AG Reporting
Annual financial report to Missouri Attorney General's Office. Due within 75 days of fiscal year end.
Resources
For Missouri 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 Missouri 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 Missouri?
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 strong regional branch access, Commerce Bank and UMB Bank are excellent Missouri-headquartered options. Arvest Bank offers free small business checking across the state.
Can I open a business bank account online in Missouri?
Yes. Several banks allow online account opening for Missouri businesses, including Holdings (fully online, no branch visit required), Chase, Bank of America, and Capital One. Regional banks like Commerce Bank may require an in-person visit for business accounts.
What do I need to open a business bank account in Missouri?
You'll typically need your EIN (Employer Identification Number), Articles of Organization filed with the Missouri Secretary of State, 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 Missouri?
Credit unions often offer lower fees and better rates, but may have fewer branches and limited digital banking tools. Missouri credit unions like Together Credit Union and CommunityAmerica are solid options for local businesses, while Commerce Bank and UMB provide deeper business banking services.
What are the cheapest business checking accounts in Missouri?
Holdings offers completely free business checking with no monthly fees, no minimum balance, and no transaction limits. Arvest Bank's Free Small Business Checking is also fee-free with 200 transactions/month. Commerce Bank's myBusiness Checking is only $0/month, waivable with a personal checking account.
Do Missouri 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 Missouri have a business income tax?
Missouri has a corporate income tax of 4% on net income. There is no separate franchise tax. Individual income tax ranges from 2% to 4.95%. St. Louis and Kansas City also impose a 1% earnings tax on income earned within city limits.
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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