Arizona’s business landscape is as vibrant as its sunsets—whether you’re running a startup in Phoenix, a retail shop in Tucson, or a family business in Flagstaff, the right bank can help your business thrive. Let’s break down your best options and make it easy to compare, switch, and save.
See How Arizona Compares Nationwide
Curious how Arizona stacks up against other states?
Explore all state-by-state business bank rankings to see the top picks for small businesses across the U.S.
Compare with Neighboring States
If you do business across state lines or want to see how your options measure up, check out our guides for nearby states:
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Why More Arizona SMBs Are Choosing Holdings
Zero fees, no minimums: Keep more of your hard-earned cash.
High APY (up to 3.0%): Make your money work as hard as you do.
Integrated accounting & bookkeeping: Spend less time on admin, more time on growth.
$3M FDIC insurance: Sleep easy knowing your funds are protected.
See all features and open your Holdings account today.
The 10 Best Banks for Small Businesses in Arizona
#1: Holdings (Best for Digital-First Banking)
Description
Holdings offers a modern digital banking experience tailored for small businesses, featuring multi-account management, tiered APY rates, and no account fees or minimum balances. It provides mobile check deposits, free ACH and domestic wires, and integrates with major accounting platforms like QuickBooks.
Pros
Digital Management: Easy multi-account management for budgeting and saving.
Tiered APY Rates: Earn up to 3% APY based on deposit tiers.
No Fees: $0 account fees and no minimum balance requirements.
Mobile Services: Mobile check deposits and virtual cards with spending limits.
Cons
Limited Physical Presence: No physical branches in Arizona.
Dependence on Technology: Requires reliable internet access.
Verdict
Holdings is ideal for businesses seeking a modern, cost-effective banking solution with robust digital tools.
#2: Wells Fargo (Best for National Reach)
Description
Wells Fargo is a major national bank with a strong presence in Arizona, offering a wide range of business banking services, including loans and credit lines.
Pros
National Reach: Access to branches across the U.S.
Comprehensive Services: Offers loans, credit lines, and cash management tools.
Established Brand: Well-known and trusted banking institution.
Cons
Fees: May have higher fees compared to digital banks.
Minimum Balance Requirements: Some accounts require minimum balances.
Verdict
Wells Fargo is suitable for businesses needing extensive national banking services and a traditional banking experience.
#3: Bank of America (Best for Cash Management)
Description
Bank of America provides robust cash management solutions and a wide network of ATMs, making it a solid choice for businesses with complex financial needs.
Pros
Cash Management Tools: Offers advanced tools for managing cash flow.
Wide ATM Network: Convenient access to ATMs across the U.S.
Established Brand: Known for reliability and customer support.
Cons
Fees: May charge higher fees for certain services.
Minimum Balance Requirements: Applies to some business accounts.
Verdict
Bank of America is ideal for businesses requiring sophisticated cash management and a broad ATM network.
#4: Chase Bank (Best for Business Credit Options)
Description
Chase Bank offers a variety of business credit options, including credit cards and lines of credit, making it a good choice for businesses seeking financing solutions.
Pros
Credit Options: Offers multiple credit cards and lines of credit.
National Presence: Access to branches and ATMs nationwide.
Digital Tools: Provides online banking and mobile apps for easy management.
Cons
Fees: May have higher fees for certain services.
Minimum Balance Requirements: Applies to some accounts.
Verdict
Chase Bank is suitable for businesses looking for flexible credit options and a strong national banking presence.
#5: North One (Best for Fee-Free Checking)
Description
North One offers a fee-free business checking account with a low minimum deposit requirement and cash-back rewards on debit card purchases.
Pros
No Monthly Fees: Low $50 minimum deposit.
Cash-Back Rewards: Earn rewards on eligible debit card purchases.
Generous Transaction Limits: Ideal for businesses planning to scale.
Cons
Limited Lending Options: Does not directly offer loans but can facilitate access.
Verdict
North One is ideal for businesses seeking a cost-effective checking account with flexible transaction limits.
#6-10: Other Notable Banks
Bluevine: Offers high-interest rates and minimal fees, ideal for businesses seeking liquidity.
Desert Financial Credit Union: Provides community-focused banking with tiered checking accounts and savings options.
Foothills Bank: Offers multiple business checking options with no monthly service charges for some accounts.
Southwest Heritage Bank: Known for its personalized service and specialized accounts like IOLTA for legal professionals.
WaFd Bank: Offers tailored business accounts with extensive branch coverage across Arizona.
Comparison Table
Bank Name | Monthly Fee | Minimum Opening Deposit | Minimum Balance Requirement | Transaction Limits | ATM Access | Mobile App Rating | Physical Branches in AZ |
|---|---|---|---|---|---|---|---|
Holdings | $0 | $0 | $0 | Unlimited | Allpoint | 4.8/5 | 0 |
Wells Fargo | Varies | Varies | Varies | High | Wide | 4.5/5 | Multiple |
Bank of America | Varies | Varies | Varies | High | Wide | 4.5/5 | Multiple |
Chase Bank | Varies | Varies | Varies | High | Wide | 4.5/5 | Multiple |
North One | $0 | $50 | $0 | High | Limited | 4.7/5 | 0 |
Bluevine | $0 | $0 | $0 | Unlimited | Limited | 4.7/5 | 0 |
Desert Financial Credit Union | $8 (waivable) | Varies | Varies | Medium | Local | 4.2/5 | Multiple |
Foothills Bank | $0-$10 | Varies | Varies | Medium | Local | 4.2/5 | Multiple |
Southwest Heritage Bank | $10 (waivable) | $100 | $100 | Medium | Local | 4.0/5 | Multiple |
WaFd Bank | Varies | Varies | Varies | Medium | Local | 4.2/5 | Multiple |
Conclusion
Choosing the right bank for your small business in Arizona can significantly impact your financial management and growth. Whether you prefer a digital-first approach like Holdings or the local support of Desert Financial Credit Union, there are options available to meet your unique needs. Consider factors like fees, digital tools, and local expertise when selecting a bank. For businesses looking to streamline their finances with modern digital banking, Holdings offers a compelling solution with its multi-account management and yield-based savings options. Visit GetHoldings.com to explore how Holdings can support your business goals.