Best Banks For Small Businesses and Startups?

Yorbing Staff

The banks listed might be large national banks but for the sake of international trades and networks these shortlist of banks for small business IS NOT SUITABLE. It must include Chinese and west African banks. It has to be the best international banks in the U.S. that has branches in Africa and China for small businesses and startups.  The intention is for access to easy loans to expand business or moving things fast. I’d rather open a business account with an international bank operating in the U.S and west Africa first. The rest is too much hustle and waste of scarce cash.

Banking is an important human activity that keeps economic growth afloat, its not going anywhere anytime soon. The banks fight turf wars and pretty territorial so one has to be careful. For example, the biggest international bank in Accra, Ghana is Standard Chartered Bank (also in UK if you live there). So the banks fight turf wars so others would not poach on their customers and charge hefty fees for transaction, what do you do?

Here is a list of international banks in Accra and 2 American banks. JP Morgan Chase and Citi Bank but they are still prospecting opening a branch in Accra as of 2018.

Well for now a small startup that does business in both America and west Africa would have to do with Western Union or Paypal for now.

The 7 Best Banks for Small Businesses in 2018
Check out one of these institutions to look after your company’s funds

Best Overall: Chase

Chase Bank

 

 Courtesy of Getty Images

If you want the traditional bank experience, Chase is your best option as a small-business owner. Chase has locations around the country, offers business checking with no fee as long as you maintain a $1,500 minimum balance, plus one of the best online banking and mobile banking systems available.

Chase is also a great bank for business credit cards. Chase Ink Business Preferred, for example, offers high value rewards you can use toward free and discounted travel. If you have your checking and savings accounts at the same place, it is easier to manage everything with one online banking login.

In summary, Chase takes the top spot because it offers everything your business might need, lots of locations, and options to dodge monthly service fees. Both small, solo businesses and brick-and-mortar businesses with many employees can easily find their needs met at Chase.

See rest of the list here.

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