The 10 Best Banks for Small Businesses in Florida in 2024

As a small business owner in Florida, you have a lot of options when it comes to business banking. To help you make a decision, we’ve compared different business banking providers and their bank accounts.

We looked at national, regional, and online banking platforms (no credit unions) to find the best banks for businesses based in Florida.

The 10 best banks for small businesses in Florida

Every bank we compared was FDIC-insured and offered a basic business checking account, either online or in-person. Most banks listed offer other financial services like lending services, money market accounts, payroll services, and credit cards.

1. Relay: Best for convenient digital banking in Florida 

2. Chase: Best for a large branch network 

3. Banesco USA: Best for localized service 

4. Wauchula State Bank: Best for community-based banking 

5. Seacoast Bank: Best for statewide branch access 

6. Optimum Bank: Best for South Florida’s new small businesses 

7. City National Bank: Best for comprehensive financial solutions 

8. American Momentum Bank: Best for businesses seeking regional reach

9. Bank of Pensacola: Best for businesses valuing traditional banking

10. Intracoastal Bank: Best for flexible fee structures 

Relay: Best for convenient digital banking in Florida 

🏆 Verdict: Relay stands out as the top business banking platform for small business owners aiming to enhance cash flow and save money.  It is a fee-free online banking and money management platform designed for small business owners.

It has one of the best business accounts out there. Its modern business bank accounts cater to entrepreneurs seeking cost-efficiency and interest earnings on surplus funds. Features such as Profit First, custom auto-transfer rules, and accounting integrations further enhance its appeal.

Banking Built for Business Owners

No account fees or minimums; 20 checking accounts; 2 savings accounts with 1.00%-3.00% APY; 50 virtual + physical debit cards. Open account 100% online.

Learn more

Our bank accounts come with no monthly fees including overdraft fees and no minimum balances. There is no monthly service fee. There is also no opening deposit fee. You can open up to 20 individual checking accounts and 2 savings accounts for free, with up to 50 physical or virtual Visa® debit cards for your whole team. Automatically transfer idle funds into your savings accounts to earn between 1-3% APY interest rates on your extra cash.

Relay offers Relay Pro, providing same-day ACH transfers, free incoming and outgoing wire transfers, and seamless accounts payable integration with accounting platforms such as Quickbooks, Xero, and Gusto.

Chase: Best for a large branch network

🏆 Verdict: Chase Business is a great choice if you’re looking for a traditional brick-and-mortar bank with reliable branch access. Like its competitors Bank of America and Capital One, it has thousands of branch locations and Chase ATMs nationwide.

Chase offers more than just business bank accounts. You can choose from a wide selection of other financial products and services, including business credit cards, perks, cashback options, and mobile apps.

Banesco USA: Best for localized service

🏆 Verdict: Banesco USA offers a blend of traditional and modern banking services tailored for businesses. It has branches in Florida and Puerto Rico. Its in-person and online services provide a comprehensive banking experience. 

The bank’s dedication to the local community and diverse service offerings establish it as a reliable option for businesses seeking personalized banking. It charges notable fees such as monthly account fees, minimum balance requirements, and additional charges.

Wauchula State Bank: Best for community-based banking 

🏆 Verdict: Wauchula State Bank offers a blend of traditional banking with a personal touch. Founded in 1929, it began as a family-owned community bank. Since then, it has leveraged its merger with other community banks such as Crews Bank & Trust and Charlotte State Bank to offer a wide range of financial services.

When combined with its dedication to the community, it makes it an ideal choice for businesses that value a community bank feel.

Seacoast Bank: Best for statewide branch access

🏆 Verdict: Seacoast Bank is a traditional bank with a full range of banking and financial services. It has over 75 branch locations across Florida. You can find Seacoast Bank ATMs in many Publix grocery stores. It has small business and commercial bank accounts, as well as SBA loans, lines of credit, and online payroll processing.

Optimum Bank: Best for South Florida's new small businesses

🏆 Verdict: Optimum Bank, with its focus on South Florida locations, offers a blend of in-person and online banking services. Founded in 2000, the bank offers both personal and business banking options. It emphasizes community-based services and its primary mode of service is in-person, but it does have online banking available.  

Customer service is available in branches, over the phone, and by email. Its products and services include business checking and business savings accounts and lending products, as well as specialty services like lockbox processing.

City National Bank: Best for comprehensive financial solutions

🏆 Verdict: City National Bank has a long-standing reputation and a wide range of services. CNB was established in Miami in 1946.  The bank offers an extensive array of financial products and services and serves its communities. It receives a lot of local awards, such as “Best Community Bank” and “Best Business Bank,” for knowing its customers' business needs. 

American Momentum Bank: Best for businesses seeking regional reach

🏆 Verdict: Based in College Station, Texas, American Momentum Bank now serves Texas and Florida communities. It’s a conventional bank that provides a variety of financial services for individuals and businesses. 

You can choose from several checking and savings accounts, merchant services, treasury management, term loans, and lines of credit. This makes it a versatile choice for businesses operating in both states who are looking for a regional bank. 

Bank of Pensacola: Best for businesses valuing traditional banking

🏆 Verdict: Founded in 1973 by Admiral John Dale Price, Bank of Pensacola was originally for Naval Air Station Pensacola members. It has since expanded its services to the broader community. Today, it seamlessly merges traditional banking principles with modern amenities.

A wide range of financial solutions are available, with the bank catering to the varied needs of Pensacola’s residents and businesses. Its range of services and commitment to customer service make it a reliable banking partner.

Intracoastal Bank: Best for flexible fee structures 

🏆 Verdict: Intracoastal Bank is a community-focused bank. It has deep local ties and is dedicated to its customers. Customers can choose from classic banking services and contemporary services, and one of the perks is that Intracoastal Bank gives businesses a flexible fee structure. The bank is committed to customer service and rewards active banking. 

What’s the best bank for small businesses in Florida? 

After reviewing the top banks for small businesses in the Sunshine State, it's clear that each bank offers unique benefits and features. So which one is the right bank for you?

The answer ultimately depends on your business's specific needs and preferences. But if you're looking for convenient digital banking and want to save on pesky bank fees, Relay might be right for you.

The best part? You can apply for an account in just 10 minutes, entirely online. Get started here.

Banking Built for Business Owners

No account fees or minimums; 20 checking accounts; 2 savings accounts with 1.00%-3.00% APY; 50 virtual + physical debit cards. Open account 100% online.

Learn more