The best banks for small businesses in Arizona depend on what you’re looking for. Every business has unique needs, whether you’re a small local service provider or an internet startup hoping to scale up and go global. From business checking and savings to commercial loans and merchant services, there’s a good fit out there for everyone.

Choosing the right bank for your business can seem like a monumental task—but this guide to the best small business banks in Arizona will help you narrow down your options. Whether you’re looking for a local bank with a deep understanding of the Arizona market or an online bank that lets you manage your cash on the go, the Grand Canyon State has a lot to offer.

Top Banks for Small Business in Arizona

These banks offer tailored financial solutions, competitive fees, and flexible account options that cater to entrepreneurs’ diverse needs. They also provide valuable resources such as robust online banking platforms, local customer support, and access to business loans and credit lines, helping business owners effectively manage their finances and grow their operations.

1. North One

Looking for a convenient, fee-free business checking account? North One should be at the top of your list. With no monthly fees, a low $50 minimum deposit, and cash-back rewards on eligible debit card purchases, their business checking accounts are perfect for entrepreneurs seeking flexibility without the usual banking costs. Enjoy instant access to client payments and same-day bill pay, making your cash flow management simple and efficient.

North One also offers generous limits on wire transfers, ACH payments, checks and debit card transactions—ideal for businesses planning to scale up their operations. Plus, their “envelope” budgeting tool helps you easily set aside funds for upcoming expenses.

While North One isn’t a direct lender, they can facilitate access to business loans of up to $250,000, subject to credit approval. Their integration with essential tools like QuickBooks, as well as online and mobile banking features, makes managing your accounts and processing payments on the go simple and easy.

All North One accounts are FDIC-insured. While they don’t have physical branches, account holders can access a vast network of fee-free ATMs across North America. However, note that there are additional fees for services like wire transfers and physical checks, and they currently don’t offer savings account options.

2. Wells Fargo

If you’re looking for more traditional banking services, Wells Fargo has hundreds of branches and a strong ATM network across the United States. 

For businesses just starting out or those with lower balances, the Initiate Business Checking account provides a cost-effective solution—it has a $10 monthly fee that can be waived by maintaining minimum balances. As businesses grow, they can transition to the Navigate Business Checking account. This tier caters to higher transaction volumes and offers more substantial free cash deposits. For enterprises with complex banking requirements, the Optimize Business Checking account delivers enhanced features and the potential to offset banking costs through an earnings allowance.

The bank also provides several savings account options. These range from the low-cost Business Market Rate Savings to the higher-tier Business Platinum Savings, as well as Business Time Accounts for those seeking fixed-interest savings opportunities.

Wells Fargo provides payroll and merchant services for small businesses. The bank also offers a selection of financing options, including business loans and lines of credit. In fact, they’re an SBA-preferred lender.

Rounding out these products is the Signify Business Cash Card, a credit card that rewards businesses with cash back on purchases, introductory APR benefits and the ability to extend cards to employees at no extra cost. 

Wells Fargo emphasizes security and convenience across all its products. It provides features such as fraud monitoring, mobile banking capabilities and zero liability protection. 

3. Desert Financial Credit Union

Desert Financial Credit Union was founded in 1939. This institution is a trusted partner for more than 24,000 businesses across the state, making it a great bank for those who prioritize commitment to the local community. They have 53 branch locations within the state.

Membership in Desert Financial Credit Union is primarily open to those who live, own a business, or work in Arizona. However, the credit union also extends membership opportunities to relatives of current members and individuals associated with select partner organizations.

For small businesses, Desert Financial offers financial services to support small businesses in various stages. Their business checking accounts are tiered, with waivable fees starting at $8. Their savings options, including no minimum balance accounts, money market accounts ($15 waivable fee) and savings certificates, provide an opportunity to earn interest on excess funds.

Loan products include vehicle and equipment financing as well as lines of credit. The credit union also supports payment processing through its merchant services, and their credit card offerings allow companies to earn rewards on everyday spending. If you have more complex financial needs, their treasury management services can help manage cash flow.

Don’t forget to check out Desert Financial’s MyMoney@Work Program. This program incentivizes businesses to encourage their employees to join the credit union and provides a financial boost to new members.

4. Foothills Bank

Foothills Bank, established in 1997, has 15 locations across the state. As part of the Glacier Bank family, Foothills Bank offers services tailored to help small businesses.

The bank provides three distinct business checking account options to accommodate varying transaction volumes and cash handling needs. The Totally Free Business Checking account has no monthly service charges or minimum balance requirements, with 200 free items per statement cycle and up to $10,000 in free coin and currency transactions. For businesses with higher transaction volumes, the Simply Business Checking account increases the free item limit to 500 per cycle—and has the same cash transaction allowance.

For more complex banking needs, Foothills Bank offers a Commercial Checking account. This account features an earnings credit system to offset monthly service charges, with specific fees for various transaction types: $10 for monthly maintenance, $0.10 per debit, $0.25 per credit and $0.10 per deposited item.

In terms of savings options, Foothills Bank provides a Business Savings Account. You’ll need a $100 minimum balance to avoid the $2 monthly fee. The Business Money Market account requires a $2,500 minimum to waive a $10 monthly fee. For businesses with specific healthcare needs, the bank also offers a Business Health Savings Account (HSA) with no monthly fees or minimum balance requirements.

Foothills Bank’s lending portfolio includes commercial real estate and construction loans, agriculture loans, equipment financing, business lines of credit and SBA loans. The bank also offers VISA Business Cards that earn 1 point for every dollar spent, redeemable for cash back, gift cards or travel rewards. The bank partners with Heartland to provide merchant payment processing solutions, and is part of the Allpoint surcharge-free ATM network.

5. Southwest Heritage Bank

Southwest Heritage Bank, formed from the merger of Bank 34 and Commerce Bank of Arizona, operates nine physical branch locations across Tucson, Oro Valley, Scottsdale, Green Valley, Gilbert, and Phoenix.

Their Small Business Checking account includes 200 free debit and credit transactions each month, with a $10 monthly service fee that can be waived by maintaining a minimum balance of $100. For businesses with higher transaction volumes, a fee of $0.25 applies per transaction after the first 200.

For larger businesses needing additional features, the Analysis Checking Account utilizes an earnings credit system based on positive average balances to offset fees. This account has a $15 monthly service fee, which can also be waived depending on the account balance.

Non-profit organizations can benefit from the Simple Non-Profit Checking account, which offers 200 free transactions per month and tiered interest rates starting at a $1,000 balance. This account carries a $10 monthly service fee, waived with a $1,000 minimum balance. All checking accounts require a minimum opening deposit of just $100.

For savings, Southwest Heritage Bank offers the PremiumPlus Business Money Market account with tiered interest rates, along with a standard Business Savings account. They also provide specialized accounts, such as the IOLTA for legal professionals and Business Certificates of Deposit for fixed-rate savings.

If you need financing, their SBA Fast Track Loans range from $50,000 to $350,000 for businesses seeking government-backed assistance. They also finance up to 90 percent of equipment purchases and up to 75 percent for commercial real estate.

Additionally, Southwest Heritage Bank offers business services, including electronic banking, remote deposit capture, ACH and wire services, and merchant card services. Their Zero Balance Accounts enable centralized management for companies with multiple units.

Choosing the Best Bank for Your Arizona Small Business

While local institutions like Desert Financial Credit Union, Foothills Bank and Southwest Heritage Bank provide community roots and personalized service, national giants like Wells Fargo offer extensive networks and comprehensive product lines. However, for most small businesses seeking a blend of modern convenience, cost-effectiveness and robust features, North One is the best overall option.

Ultimately, the best choice depends on your business needs, growth plans and personal banking preferences—and don’t forget that you can work with more than one bank. The key is to select a financial institution that aligns with your business goals.