Software your AI can run.
Bank shopping in North Dakota? 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 North Dakota 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% |
| Gate City Bank Simply Business Checking | Regional | $0 | 0.00% |
| Choice Bank Business Checking* | Regional | $10waivable | 0.00% |
| Bell Bank Business Checking* | Regional | $10waivable | 0.00% |
| Chase Business Complete Banking | National | $15waivable | 0.00% |
| Capital Credit Union Business Connect Checking* | Credit Union | $0 | 0.00% |
| Old National Bank (formerly Bremer Bank)* | Regional | $12waivable | 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
Gate City Bank Simply Business Checking
Regional | $0/mo | 35 branches
North Dakota businesses wanting fee-free local banking with strong community ties
Key Features
- •Free business checking with up to 1,000 monthly transactions
- •No minimum balance or monthly fees
- •24/7 fraud monitoring
Pros
- ✓No monthly service fee — truly free
- ✓Generous 1,000 free transactions per month
- ✓Deep Fargo/Grand Forks community roots since 1923
Cons
- ✗Branch network limited to ND and MN
- ✗Less advanced digital tools compared to national banks
- ✗No interest earned on business checking
Choice Bank Business Checking
Regional | $10/mo | 15 branches
Growing North Dakota businesses needing relationship banking and advisory services
Key Features
- •People First approach with dedicated business bankers
- •Branches across ND including Fargo, Bismarck, Grand Forks
- •Business lending and insurance services under one roof
Pros
- ✓Integrated banking, insurance, and financial planning
- ✓Strong business lending expertise
- ✓Local decision-making — not a distant corporate office
Cons
- ✗Monthly fee unless minimum balance maintained — verify exact terms
- ✗Fewer branches than Gate City Bank
- ✗Business checking details less transparent online — verify in branch
Bell Bank Business Checking
Regional | $10/mo | 20 branches
Established North Dakota businesses needing commercial banking and agricultural lending
Key Features
- •Largest independently owned bank in the Upper Midwest
- •Employee-owned — not publicly traded
- •Strong commercial and ag lending
Pros
- ✓Employee-owned bank with long-term community commitment
- ✓Strong agricultural lending (important for ND economy)
- ✓Wealth management and insurance services
Cons
- ✗Monthly fee unless minimum balance maintained — verify
- ✗Business checking terms less transparent online
- ✗Concentrated in Fargo metro area
Chase Business Complete Banking
National | $15/mo | Online only
Digital-first businesses wanting a national bank's tools without needing branch access
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
- ✓Online account opening available
Cons
- ✗No Chase branches in North Dakota
- ✗$15/month fee unless $2,000 balance maintained
- ✗Only 100 free transactions per cycle
Capital Credit Union Business Connect Checking
Credit Union | $0/mo | 5 branches
Budget-conscious businesses in the Bismarck area wanting credit union rates
Key Features
- •No monthly fees and pays dividends on balances over $500
- •Bismarck-based credit union serving central ND
- •Free online and mobile banking
Pros
- ✓No monthly service fee
- ✓Dividend-earning checking on balances over $500
- ✓Member of CO-OP shared branching network
Cons
- ✗Limited branch network — concentrated in Bismarck
- ✗Must qualify for membership
- ✗Fewer digital business tools than national banks
Old National Bank (formerly Bremer Bank)
Regional | $12/mo | 10 branches
Businesses needing SBA loans and commercial banking with regional presence
Key Features
- •Bremer Bank division (acquired 2025) with ND locations in Fargo, Bismarck, Grand Forks
- •Full-service commercial banking
- •SBA preferred lender
Pros
- ✓SBA preferred lender status
- ✓Strong commercial and business lending
- ✓Locations across major ND cities
Cons
- ✗Recently acquired by Old National — integration ongoing
- ✗Monthly fee unless $5,000+ balance maintained
- ✗Business checking details in transition — verify current terms
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 North Dakota
- ✗$15/month unless $2,000 balance maintained
- ✗Limited in-person support
North Dakota Banking Landscape
62
FDIC-Insured Institutions
3+
Major Regional Banks
3+
Major Credit Unions
Top Regional Banks
- Gate City Bank — $3.5B
- Bell Bank — $12B
- Choice Bank — $2.5B
Top Credit Unions
- Capital Credit Union — 30,000+ members
- Town & Country Credit Union — 35,000+ members
- Dakota Credit Union Association members — Various members
State Banking Programs
- •North Dakota Small Business Development Center (ND SBDC) — free counseling and training
- •Bank of North Dakota (BND) — state-owned bank offering business loan programs
- •North Dakota Development Fund — gap financing for businesses
- •SBA North Dakota District Office — government-backed loan programs
Regulator: North Dakota Department of Financial Institutions
Starting a Business in North Dakota
| Secretary of State | North Dakota Secretary of State |
| LLC Fee | $135 (online filing) |
| Corp Fee | $100 |
| Income Tax | Corporate: 1.41%–4.31% graduated. Personal: effectively eliminated for most residents (flat 1.95% on income over ~$44,725 — verify current thresholds). |
| Sales Tax | 5% state + up to 3% local (8% max combined) |
| Franchise Tax | None |
Business Incentives
- •Bank of North Dakota — state-owned bank with below-market-rate business loans
- •North Dakota Renaissance Zone Program — income tax exemptions for businesses in designated zones
- •Workforce Enhancement Grant — reimbursement for new employee training
- •No personal income tax for most residents — attractive for business owners
- •North Dakota Development Fund — gap financing for primary-sector businesses
Nonprofit Banking in North Dakota
Registration
File Articles of Incorporation (nonprofit) with ND Secretary of State ($40 filing fee — verify)
Charitable Solicitation
Register with ND Secretary of State before soliciting. File Charitable Organization Registration Statement. Annual renewal required.
Tax Exemption
Apply to ND Tax Commissioner for state tax exemption. North Dakota generally recognizes federal 501(c)(3) status.
AG Reporting
Annual report to ND Secretary of State ($10 — verify). Charitable organizations file annual financial reports.
Resources
- North Dakota Association of Nonprofit Organizations →
- ND Secretary of State — Charitable Organizations →
- Bank of North Dakota — Nonprofit Programs →
For North Dakota 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 North Dakota 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 North Dakota?
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, Gate City Bank and Choice Bank are locally rooted options. For credit union banking, Capital Credit Union offers free business checking.
Can I open a business bank account online in North Dakota?
Yes. Holdings allows fully online account opening for North Dakota businesses with no branch visit required. Chase also offers online applications. Local banks like Gate City Bank and Choice Bank may require an in-person visit to complete account setup.
What do I need to open a business bank account in North Dakota?
You'll typically need your EIN (Employer Identification Number), Articles of Organization filed with the ND 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 North Dakota?
Credit unions often offer lower fees and better rates. North Dakota credit unions like Capital Credit Union and Town & Country Credit Union are strong options for local businesses, while national banks offer broader ATM networks and more advanced business tools.
What are the cheapest business checking accounts in North Dakota?
Holdings offers completely free business checking with no monthly fees, no minimum balance, and no transaction limits. Gate City Bank's Simply Business Checking is also fee-free with up to 1,000 transactions. Capital Credit Union's Business Connect Checking has no monthly fees.
Do North Dakota 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 North Dakota have a corporate income tax?
Yes. North Dakota has a graduated corporate income tax ranging from 1.41% to 4.31% of taxable income. However, North Dakota has no personal income tax as of 2024 for most residents (eliminated for incomes under ~$44,725; flat 1.95% above that — verify current thresholds).
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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