Top 10 Best Banks for Small Businesses in Washington State (2025) – Compare & Choose

Running a business in Washington means you’ve got options—from Seattle’s tech scene to Spokane’s local shops. The right bank can help your business grow and keep more money in your pocket. Let’s break down your best options—and make it easy to compare, switch, and save.

See How Washington Compares Nationwide

Curious how Washington 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:

• Oregon

• Idaho

Thinking About Switching Banks?

Switching doesn’t have to be stressful.
Follow our step-by-step guide to switching business bank accounts and make your move with confidence.

Why More Washington 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 Washington

#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 Umpqua Bank (Best Regional Bank)

Umpqua Bank has a strong presence in the Pacific Northwest and offers tailored solutions for small businesses. Its Community Business Checking account includes up to 200 free monthly transactions and personalized customer service through its regional branches. Umpqua also provides competitive lending options designed specifically for Washington businesses.

Pros:

• Strong local presence across Washington

• Up to 200 free monthly transactions on select accounts

• Competitive lending solutions including SBA loans

• Personalized customer service at regional branches

Cons:

• Monthly fee unless waived ($10-$20)

• Limited advanced digital tools compared to larger banks

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

#3 BECU (Best Credit Union Option)

BECU (Boeing Employees Credit Union) offers affordable banking solutions with a focus on community support. Its Business Checking account features no monthly maintenance fees if balance requirements are met and up to 150 free transactions per month. BECU also provides competitive loan options tailored to small businesses in Washington.

Pros:

• No monthly maintenance fee on basic accounts if balance requirements are met

• Up to 150 free monthly transactions

• Strong focus on community support within Washington markets

• Competitive loan options tailored to local businesses

Cons:

• Limited branch network outside Washington State

• Fewer advanced digital tools compared to larger banks

Verdict: BECU is perfect for community-oriented businesses seeking low-cost banking solutions.

#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 Washington State. Wells Fargo also offers comprehensive lending options tailored to small businesses.

Pros:

• Extensive branch network across Washington State 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 KeyBank (Best for Cash Management)

KeyBank offers robust cash management solutions alongside a strong presence in Washington State. Its Business Reward Checking account includes up to 50 free transactions per month with affordable monthly fees that can be waived by meeting balance requirements. KeyBank also provides treasury management services for growing businesses.

Pros:

• Advanced cash management tools like treasury services

• Competitive rewards program on business credit cards

• Extensive branch network in Washington State

• Free online banking services

Cons:

• Monthly fee unless waived ($25)

• Limited free transactions (50 per month)

Verdict: KeyBank is ideal for businesses needing advanced cash management solutions.

#6 Chase Bank (Best for Nationwide Coverage)

Chase Bank provides 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 Washington State. Chase also offers excellent credit card options tailored specifically for small businesses.

Pros:

• Extensive branch network across Washington State 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 Washington

Conclusion

Washington’s diverse economy demands banking solutions that cater specifically to the needs of its entrepreneurs—whether they’re running tech startups in Seattle or agricultural ventures in rural areas like Yakima Valley. 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!