Best Small Business Banks in Kansas City

Updated on January 20, 2022
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Starting and running a small business means having to make a variety of decisions—some big, some small. Some may seem minor but can make a major difference both in the present as well as the future. This is particularly true for picking out the best small business bank you can find based on your needs today as well as tomorrow.

If you’re looking for the best small business banks in Kansas City, you have plenty of options from which to choose. Most business checking accounts may appear the same between banks at first blush, but the devil is in the details. Smaller decision points, such as customer service or even the user-friendliness of their online banking, can help you pick between different providers.

Whether you’re opening a new business in Kansas City or merely looking to find a new bank for your existing operation, here are a few of the best banks in Kansas City to help you start your search.

The Best Small Business Banks in Kansas City

There are limitless ways in which you can compare small business banks, be it in Kansas City or anywhere. Our expert picks were decided based on some of the most important criteria for entrepreneurs and small business owners, such as customer service, lending track record, and ATM access.

Best Small Business Bank in Kansas City for Community Banking: NBKC Bank

There’s an argument to be made for banking locally when you run a small business. When you work with a local bank, you’re more likely to get personalized service than you might with a regional or nationwide bank. Plus, the relationship you establish with a business checking or savings account may blossom into one that makes it easier for you to borrow money down the line to finance growth.

NBKC bank is headquartered in Overland Park, KS, and prides itself on its human-centric customer service. The company offers businesses with a checking account option, a money market account, certificates of deposit, credit cards, and commercial lending. They also provide payroll, fraud protection, collections, and cash management services for small businesses too. NBKC even offers bespoke solutions for fintech companies in Kansas City and beyond, helping them tackle financial challenges as well as scalable tools for their customers.

Unlike our other picks for the best small business banks in Kansas City, NBKC only offers one business checking account. What the bank lacks in account types it makes up for in fees—or, better put, the lack thereof. NBKC has no fees for returned electronic or paper items, overdrafts, online business banking tools, online bill pay, check deposits, stop payments, nor for incoming domestic wire transfers. There’s no minimum deposit required to open an account either, and no minimum balance requirement.

Best Small Business Bank in Kansas City for SBA Loans: U.S. Bank

U.S. Bank was one of the biggest banks in terms of SBA lending in 2021, meaning it is a great option for small businesses looking to apply for an SBA loan. Thankfully, U.S. Bank has a major presence throughout Kansas City and beyond as well. Most banks prefer to have an existing banking relationship with their borrowers, so consider opening a bank account with U.S. Bank first.

U.S. Bank offers three small business checking accounts: Silver, Gold, and Platinum.

  • Silver comes with a $0 monthly maintenance fee, 125 free transactions per month, and a reasonable $0.50 fee for each additional transaction thereafter.
  • Their Gold business checking account comes with 300 free monthly transactions, a $0.45 fee after that, as well as a $20 monthly fee.
  • Platinum includes 500 free transactions per month with a $0.40 fee per transaction thereafter and a $30 monthly maintenance fee which, like with Silver and Gold, can be waived if you meet one or several conditions.

Best Small Business Bank in Kansas City for ATM Access: Bank of America

Bank of America is hard to beat in terms of accessibility. This national banking giant has ATMs and branches across Kansas City and beyond, which means you’re always close to your money when you open a business bank account with them.

Bank of America offers two business checking accounts in Kansas City—Business Advantage Fundamentals Banking and Business Advantage Relationship Banking. The former comes with a low, waivable $16 monthly fee in exchange for several digital tools and fraud protection tools. The latter integrates with QuickBooks; allows for multiple account users with customized access; and has zero fees for incoming wire transfers, stop payments, and electronic deposits, among other transaction types. This account comes with a $29.95 monthly fee, which can also be waived as long as you meet certain criteria.

Other banks may come with lower (or no) fees and other benefits, but few can match the sheer network of ATMs and branches that Bank of America has. So if access is a must-have, a Bank of America business account might be your best option.

Best Small Business Credit Union in Kansas City: Mainstreet Credit Union

Credit unions are perhaps one of the best-kept secrets in small business banking. They offer a similar set of tools and uses as banks, but they have additional perks. You don’t open an account with a credit union; you become a member. This means that you’re provided with more of a say in the credit union’s mission and, in some cases, may even be eligible for better interest rates on loans or interest-bearing savings accounts.

Mainstreet Credit Union is one of several credit unions that offer small business accounts in the greater Kansas City area. Their business checking account comes with bill pay features, unlimited debit card transactions, mobile deposits, bulk deposit capabilities, and more. If you maintain a balance of $5,000 or more, you’re eligible to receive monthly dividends as well—one of the biggest perks to joining a credit union as a small business.

Credit unions may not offer you the same slew of free features, perks, or ATM locations as commercial banks, but they do come with plenty of benefits in their own right. Customer service, lending relationships, and dividends are just a few.

What to Look for in a Small Business Bank

How you decide on the best small business bank for you depends on your own needs. For instance, if you don’t need a ton of free features every month, a low- or no-fee checking account is usually your best bet. If you plan to carry a high balance and want to reap the benefits that come with it, such as free transactions and a high deposit maximum, then a more feature-rich account might be worth consideration.

In other words, it’s tough to say objectively which bank account is the best in Kansas City or anywhere else in the country for that matter. The right bank account for your business is the one that gives you an opportunity to bank the way you want and need to—and on terms that work best for you and your needs. This looks different for every business as well as every business owner.

The Best Small Business Banks in Kansas City: The Bottom Line

Kansas City small business owners have their pick of the litter in terms of small business banks. There’s a great option for those who want to bank locally, have national access to their cash through a broad ATM network, or who want to partner with a financial institution with a long history of small business lending, among other criteria.

The most important thing you can do is make sure you understand your own needs today, tomorrow, and beyond. The better you understand your business’s finances and where you want to take your company in the future, the more informed a choice you can make about where to do your daily banking.