Running a small business in Florida comes with its unique set of challenges and opportunities. The Sunshine State boasts a vibrant economy driven by tourism, agriculture, real estate, and a growing tech sector. With over 2.8 million small businesses contributing significantly to the state’s GDP, choosing the right banking partner is crucial for success. A good bank can provide not just a place to store your money but also tools for growth, such as low-fee accounts, reliable customer support, business loans, and digital banking features that save time and money.
When selecting the best banks for small businesses in Florida, we focused on key criteria: low fees (including waivable monthly maintenance fees, minimal transaction costs, and no hidden charges), trusted support (24/7 availability, dedicated business advisors, and responsive service), accessibility (branches in Florida for in-person help or robust online platforms), and additional perks like interest-earning accounts or integration with accounting software. We drew from reputable sources like Fit Small Business, NerdWallet, and others to ensure our recommendations are up-to-date for 2025.
Low fees are particularly important for small businesses operating on tight margins, where every dollar counts. Trusted support ensures that when issues arise—whether it’s a transaction dispute or advice on financing—you have reliable help. Florida’s diverse business landscape, from Miami startups to Orlando tourism ventures, demands banks that offer flexibility. In this post, we’ll explore eight top banks that excel in these areas, including a mix of national giants with extensive Florida branches, local credit unions, and innovative online options. Whether you’re a sole proprietor or a growing enterprise, these banks can help streamline your finances.
Florida’s small business scene is booming, with the state ranking high in new business formations. According to recent data, small businesses employ nearly half of the private workforce here. However, banking fees can eat into profits—average monthly fees range from $10 to $50, but many can be waived with minimum balances or direct deposits. Trusted support is equally vital; businesses need quick resolutions to avoid disruptions. Our selections prioritize banks with high customer satisfaction ratings and features like mobile apps for on-the-go management. Let’s dive into the list.
JUMP TO TOPIC
1. Chase Bank
Chase Bank stands out as one of the best options for small businesses in Florida, especially those with lower transaction volumes seeking a solid entry-level account. With over 100 branches across the state, including major cities like Miami, Tampa, and Orlando, Chase offers convenient in-person access alongside robust digital tools.
Key features include the Business Complete Banking account, which has a $15 monthly fee that’s easily waivable by maintaining a $2,000 average daily balance, making 10 debit card purchases, or receiving $5,000 in qualifying deposits. This account allows up to 20 free transactions per month and $5,000 in fee-free cash deposits. For growing businesses, the Platinum Business Checking offers higher limits. Fees for wires are reasonable: up to $35 for domestic outgoing and $50 for international. Chase’s mobile app integrates with QuickBooks, enabling seamless accounting, and includes built-in POS options via Chase Mobile.
Trusted support is a highlight, with live customer service available online, in-branch during business hours, or via phone. The bank scores high in customer satisfaction surveys for its responsive service. Pros include new account bonuses up to $500 and extensive ATM network (over 16,000 fee-free ATMs). Cons: Limited free transactions at the basic level and no ATM reimbursements. For Florida businesses, Chase’s strong Southeast presence makes it ideal for those needing face-to-face interactions while keeping fees low through waivers.
2. Bank of America
Bank of America is a powerhouse for small businesses in Florida, boasting the third-most branches in the state with 547 offices in 210 cities, ensuring widespread accessibility.
It’s particularly suited for businesses with moderate transaction needs, offering 200 free transactions monthly on its Business Advantage Fundamentals account.
The $16 monthly fee is waivable with a $5,000 combined average monthly balance or by spending $250 on a business debit/credit card. Cash deposits up to $5,000 are free, then 30 cents per $100—competitive for small operations. Wire fees are $30 domestic outgoing and $45 international. The account includes free digital tools for tracking business performance, and the mobile app supports deposits, transfers, and bill pay.
Support is trusted and multifaceted: in-branch during business hours, phone, or social media. Bank of America excels in customer service, with dedicated business specialists available. Pros: Up to $500 new account bonus, rewards programs, and integration with financial software. Cons: Fees for excess cash deposits and a $100 opening deposit requirement. In Florida, its extensive network supports businesses in rural and urban areas alike, making it a low-fee, reliable choice for entrepreneurs.
3. Truist Bank
Truist Bank, formed from the merger of BB&T and SunTrust, is excellent for small businesses wanting no monthly fees on entry-level accounts. With 446 branches in 196 Florida cities, it’s the second-most present bank in the state.
The Simple Business Checking has no monthly fee and allows 50 free transactions, with $2,000 in fee-free cash deposits monthly. For higher volumes, Dynamic Business Checking scales up. Wire fees range from $15-$65 domestic. No ATM fees at Truist machines, $3 elsewhere domestically.
Support includes online/mobile banking and business-hour customer service, with high marks for reliability. Pros: No fees for basic checking, online opening, and discounts on checks. Cons: Low transaction limits on entry account and no APY. Florida businesses benefit from Truist’s strong regional footprint, ideal for those in the Southeast needing trusted, low-cost banking without frills.
4. Wells Fargo
Wells Fargo is a top pick for small businesses seeking SBA loans and broad branch access, as it’s one of the most active SBA lenders in the U.S.
With numerous Florida branches, it supports in-person needs.
Accounts like Initiate Business Checking have a $10 monthly fee, waivable with $500 balance. Unlimited transactions on higher tiers. Cash deposits vary by account. Wire fees are standard.
Support is trusted with 24/7 phone access and branch help. Pros: Favorable loan terms, multiple checking options. Cons: Some fees unless waived. For Florida’s growth-oriented businesses, Wells Fargo’s lending support and low waivable fees make it dependable.
5. Bluevine
Bluevine is an online powerhouse for low-fee banking, ideal for Florida businesses comfortable with digital platforms.
No monthly fees, no minimum deposit, and unlimited transactions.
Earns 1.50% interest on balances up to $250,000. Cash deposits via Green Dot for $4.95. Integrates with accounting software.
Support includes dedicated bankers and bill pay tools. Pros: High APY, no fees, extended FDIC insurance. Cons: No cash deposits without fee, online-only. Perfect for tech-savvy Florida entrepreneurs seeking trusted digital support.
6. Axos Bank
Axos offers free online checking with 24/7 support, great for small businesses prioritizing accessibility.
No monthly fees, unlimited transactions, ATM refunds.
Basic Business Checking is free; Interest Checking earns up to 1.01% APY for $10/month (waivable).
Support: 24/7 phone. Pros: No fees, refunds, welcome bonuses. Cons: $25 NSF fee. For Florida, its online model provides low-cost, trusted service without branches.
7. Suncoast Credit Union
Suncoast, Florida’s largest credit union, focuses on low fees and community support.
Free business checking, no minimum balance.
Competitive loans, free mobile banking, overdraft protection. Rewards on checking.
Support: Workshops, online tools. Pros: Many free features, educational resources. Cons: Membership required (Florida residents). Ideal for local businesses seeking trusted, fee-free options.
8. MIDFLORIDA Credit Union
MIDFLORIDA is tailored for Florida small businesses with low-fee accounts and personalized service.
Free checking options, competitive rates.
Support: Dedicated advisors, online banking. Pros: Community focus, SBA alternatives. Cons: Limited to Florida. Great for trusted local support with minimal fees.
Conclusion
Choosing among these eight banks—Chase, Bank of America, Truist, Wells Fargo, Bluevine, Axos, Suncoast, and MIDFLORIDA—depends on your business needs. National banks offer branches, online ones low fees, locals community trust. Consider factors like transaction volume and support preferences. Always check current terms, as they can change. With the right bank, your Florida small business can thrive financially.