Software your AI can run.
Bank shopping in Oregon? 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 Oregon 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% |
| Umpqua Bank Business Checking* | Regional | $10waivable | 0.00% |
| Columbia Bank Business Checking* | Regional | $12waivable | 0.00% |
| OnPoint Community Credit Union* | Credit Union | $0 | 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
Umpqua Bank Business Checking
Regional | $10/mo | 100 branches
Oregon businesses wanting relationship banking with a Pacific Northwest focus
Key Features
- •Oregon-headquartered bank with deep Pacific Northwest roots
- •Innovative 'Go-To' store concept with community-focused branches
- •Strong small business lending and SBA programs
Pros
- ✓Largest Oregon-headquartered bank ($30B+ in assets)
- ✓Extensive branch network across Oregon
- ✓Strong reputation for customer service and community involvement
Cons
- ✗Monthly fee unless minimum balance maintained
- ✗Interest rates on deposits below online competitors
- ✗Recent Columbia Banking System merger may cause transition issues
Columbia Bank Business Checking
Regional | $12/mo | 60 branches
Established Oregon businesses needing full commercial banking services
Key Features
- •Pacific Northwest regional bank with 350+ branches
- •Community Business Checking with up to 200 check transactions
- •Strong commercial lending across Oregon
Pros
- ✓Large Pacific Northwest branch network
- ✓Strong commercial and SBA lending programs
- ✓Dedicated business relationship managers
Cons
- ✗Monthly fee unless minimum balance maintained
- ✗Complex fee structure — verify details in branch
- ✗Merger with Umpqua may lead to brand consolidation
OnPoint Community Credit Union
Credit Union | $0/mo | 50 branches
Portland-area businesses wanting credit union rates and fee-free checking
Key Features
- •Oregon's largest credit union ($9.7B+ in assets)
- •Free basic business checking
- •50+ branches across Oregon
Pros
- ✓No monthly fees on basic business checking
- ✓Oregon's largest credit union with extensive branch network
- ✓Competitive loan rates and member dividends
Cons
- ✗Must qualify for membership (live, work, or worship in Oregon/SW Washington)
- ✗Digital banking tools less polished than national competitors
- ✗Branch network concentrated in Portland metro
Chase Business Complete Banking
National | $15/mo | 60 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
- ✓Strong Oregon branch presence, especially Portland metro
- ✓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 | 40 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
- ✗Smaller Oregon presence than Chase
Wells Fargo Initiate Business Checking
National | $15/mo | 80 branches
Oregon businesses wanting a national bank with extensive local branches
Key Features
- •Strong Oregon branch presence (Wells Fargo was historically major PNW bank)
- •Low $25 minimum opening deposit
- •Business Online banking with Zelle
Pros
- ✓One of the largest branch networks in Oregon
- ✓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
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 Oregon
- ✗$15/month unless $2,000 balance maintained
- ✗Limited in-person support
Oregon Banking Landscape
101
FDIC-Insured Institutions
3+
Major Regional Banks
3+
Major Credit Unions
Top Regional Banks
- Umpqua Bank (Columbia Banking System) — $30B+
- Columbia Bank — $15B+
- Banner Bank — $15.6B
Top Credit Unions
- OnPoint Community Credit Union — 500,000+ members
- Unitus Community Credit Union — 100,000+ members
- Oregon Community Credit Union — 90,000+ members
State Banking Programs
- •Oregon Small Business Development Center (SBDC) — free counseling and training
- •Business Oregon (state economic development agency) — loans, grants, and tax credits
- •Oregon Growth Account — venture capital for Oregon businesses
- •SBA Oregon District Office — government-backed loan programs
Regulator: Oregon Division of Financial Regulation
Starting a Business in Oregon
| Secretary of State | Oregon Secretary of State |
| LLC Fee | $100 |
| Corp Fee | $100 |
| Income Tax | Personal income tax: 5% to 9.9%. Corporate excise tax: 6.6% (7.6% on income over $1M). Corporate Activity Tax (CAT): 0.57% on commercial activity over $1M. |
| Sales Tax | None — Oregon has no state or local sales tax |
| Franchise Tax | None (Oregon uses corporate excise tax instead) |
Business Incentives
- •No state sales tax — significant advantage for retail businesses
- •Business Oregon loan and grant programs
- •Oregon Investment Advantage — income tax subtraction for businesses in rural areas
- •Enterprise Zones — property tax exemptions for 3-5 years
- •Oregon Small Business Development Center — free consulting statewide
Nonprofit Banking in Oregon
Registration
File Articles of Incorporation (nonprofit) with Oregon Secretary of State
Charitable Solicitation
Oregon does not require charitable solicitation registration. However, nonprofits that conduct raffles or gaming must register with the Oregon Department of Justice.
Tax Exemption
Apply to Oregon Department of Revenue for state income tax exemption. Oregon has no sales tax so no sales tax exemption needed. Apply for property tax exemption through the county assessor.
AG Reporting
Annual report to Oregon Secretary of State required ($100). Must maintain registered agent in Oregon.
Resources
- Nonprofit Association of Oregon →
- Oregon Department of Justice — Charitable Activities →
- Oregon Secretary of State — Business Registry →
For Oregon 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 Oregon 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 Oregon?
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, Columbia Bank and Umpqua Bank both have strong Oregon networks. For credit union banking, OnPoint Community Credit Union is Oregon's largest.
Can I open a business bank account online in Oregon?
Yes. Several banks allow online account opening for Oregon businesses, including Holdings (fully online, no branch visit required), Chase, Bank of America, and Capital One. Local institutions like OnPoint and Umpqua may require an in-person visit.
What do I need to open a business bank account in Oregon?
You'll typically need your EIN (Employer Identification Number), Articles of Organization filed with the Oregon Secretary of State, a government-issued photo ID, and your business license. Some banks also require an initial deposit.
Does Oregon have a sales tax?
No. Oregon is one of only five states with no state sales tax. This makes it especially attractive for retail businesses but means the state relies more heavily on income taxes (5% to 9.9%) and the Corporate Activity Tax (CAT).
What are the cheapest business checking accounts in Oregon?
Holdings offers completely free business checking with no monthly fees, no minimum balance, and no transaction limits. OnPoint Community Credit Union offers free basic business checking. Among national banks, Chase and Wells Fargo offer fee waivers with $2,000 minimum balances.
Do Oregon 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 is the Oregon Corporate Activity Tax (CAT)?
The Oregon CAT is a 0.57% tax on commercial activity (gross receipts) over $1 million, after a 35% subtraction for certain costs. It applies in addition to the state income tax and affects businesses with Oregon-sourced revenue above the threshold.
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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