Top 10 Best Banks for Small Businesses in South Carolina (2025) – Compare & Choose

South Carolina’s economy is fueled by small businesses across industries like tourism, manufacturing, agriculture, and technology. Cities such as Charleston, Columbia, and Greenville serve as thriving hubs for commerce, while the state’s coastal areas attract businesses tied to hospitality and fishing. With a business-friendly environment and growing population, South Carolina provides ample opportunities for entrepreneurs to succeed.

Despite the advantages, small businesses in South Carolina face challenges such as high banking fees, limited access to tailored financial products, and outdated technology. Many traditional banks prioritize larger corporations, leaving small business owners searching for affordable solutions that meet their needs.

Choosing the right bank is critical for small businesses looking to streamline operations and maximize growth potential. Below is a list of the 10 best banks for small businesses in South Carolina to help you find the perfect fit for your financial needs.

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:

• Florida

• Alabama

• North Carolina

The 10 Best Banks for Small Businesses in South Carolina

#1 Holdings (Best for Digital-First Banking)

Holdings is revolutionizing business banking with its digital-first approach. Offering $0 account fees, no minimum balances, and tiered APY rates up to 3%, Holdings provides a seamless experience for small business owners. Its multi-account management capabilities allow businesses to budget effectively while earning competitive yields. Holdings also integrates with QuickBooks, Plaid, and Yodlee for streamlined accounting.

Pros:

• $0 account fees and no minimum balances

• High APY rates (1.5%-3%) based on deposit tiers

• Free ACH transfers and domestic wires

• Integration with QuickBooks and other platforms

• Access to Allpoint ATM network with no fees

Cons:

• No physical branches

• Limited services for cash-heavy businesses

Verdict: Holdings is ideal for tech-savvy entrepreneurs who value flexibility, competitive yields, and robust digital tools.

#2 South State Bank (Best Regional Bank)

South State Bank is a prominent regional bank with a strong presence across South Carolina. Its Business Checking account offers up to 500 free monthly transactions and access to personalized support through local branches. South State also provides competitive lending options tailored to small businesses.

Pros:

• Extensive branch network across South Carolina

• Up to 500 free monthly transactions on select accounts

• Competitive lending solutions including SBA loans

• Personalized customer service at regional branches

Cons:

• Monthly fee unless waived ($15-$25)

• Limited advanced digital tools compared to larger banks

Verdict: South State Bank is ideal for locally-focused businesses needing personalized service.

#3 Truist Bank (Best for Lending Services)

Truist Bank combines expertise from BB&T and SunTrust to offer comprehensive business banking solutions. Its Simple Business Checking account includes low fees and up to 50 free transactions per month. Truist also provides strong lending options tailored to small businesses in South Carolina.

Pros:

• Competitive lending options including SBA loans

• Affordable monthly maintenance fee ($12)

• User-friendly mobile app with advanced features

• Strong presence across South Carolina markets

Cons:

• Limited free transactions (50 per month)

• Lower APY on savings accounts compared to competitors

Verdict: Truist Bank is perfect for small businesses needing reliable lending services.

#4 Wells Fargo (Best for Established Businesses)

Wells Fargo’s Initiate Business Checking account caters to growing businesses with moderate transaction needs. It includes 100 free monthly transactions and access to one of the largest branch networks in the U.S., including many locations across South Carolina. Wells Fargo also offers comprehensive lending options tailored to small businesses.

Pros:

• Extensive branch network across South Carolina and nationwide

• Comprehensive lending options including SBA loans

• User-friendly mobile app with advanced features

Cons:

• Monthly fee unless waived ($10)

• Limited free transactions compared to competitors

Verdict: Wells Fargo is great for established businesses looking for reliable banking services.

#5 Bank of America (Best for Cash Transactions)

Bank of America excels at handling cash transactions with its widespread network of ATMs and branches across the U.S., including several locations in South Carolina. Its Preferred Rewards program boosts interest rates while offering perks like fee waivers on select accounts.

Pros:

• Extensive ATM and branch network nationwide

• Preferred Rewards program enhances benefits

• Strong online banking tools

Cons:

• Monthly fees unless waived ($16-$29)

• Transaction fees at non-Bank of America ATMs

Verdict: Bank of America is great for cash-heavy businesses needing reliable access.

#6 Chase Bank (Best for Nationwide Coverage)

Chase Bank offers extensive nationwide access with its Business Complete Banking account. It includes unlimited electronic deposits and access to over 4,700 branches across the country, including several locations in South Carolina. Chase also provides excellent credit card options tailored specifically for small businesses.

Pros:

• Extensive branch network across South Carolina and nationwide

• Unlimited electronic deposits

• Strong business credit card offerings

• User-friendly mobile app

Cons:

• $15 monthly fee unless waived

• Limited free transactions (20 per month)

Verdict: Chase is ideal for businesses needing nationwide access and reliable credit card options.

Comparison Table of Top Banks in South Carolina

Conclusion

South Carolina’s thriving economy demands banking solutions that cater specifically to the needs of its entrepreneurs—whether they’re running hospitality ventures or manufacturing firms. Holdings stands out as the top choice due to its modern features like high APYs, fee-free banking, and seamless integrations that simplify financial management.

Ready to elevate your business finances? Open an account today at GetHoldings.com!