Finder makes money from featured partners, but editorial opinions are our own. Advertiser Disclosure

Alternatives to Silicon Valley Bank

Compare 12 startup-friendly competitors to Silicon Valley Bank.

Silicon Valley Bank, a digital bank founded in 1983 that catered to startups and scale-ups, was shut down by the government on Friday, March 10, 2013, after regulators discovered “inadequate liquidity and insolvency” in place. While SVB customers will be able to access their insured deposits through the FDIC, the future of this bank is unclear.

If you’re looking for a top-notch business bank account that caters to growing businesses, look to these top alternatives offering free transactions, low fees and useful tools that can help you to keep track of expenses, stay on top of payroll and simplify tax obligations as you scale your business.

What Silicon Valley Bank’s shutdown means for customers

The FDIC issued a press release on March 12, 2023, announcing that it had immediately transferred all insured deposits to the newly created Deposit Interest National Bank of Santa Clarita (DINB). The FDIC assured depositers full access to their insured deposits by Monday, March 13, 2023.

For depositers whose assets total more than the $250,000 covered by the FDIC’s standard insurance, the FDIC has announced it will pay “an advance dividend within the next week” with possible “future dividend payments” as the government sells off SVB’s assets.

The FDIC advises customers whose accounts total more than $250,000 to call 866-799-0959 for more information.

Disclosure: Finder banked with SVB before its closure.

12 Silicon Valley Bank alternatives for small businesses

  1. Novo Business
  2. Relay
  3. Brex Cash account
  4. Bluevine Business Checking
  5. Live Oak Bank Small Business Checking Account
  6. Lili
  7. Found
  8. Chase Business Complete Checking
  9. Axos Bank Basic Business Checking
  10. Square
  11. NorthOne Business Banking
  12. Axos Bank Business Interest Checking

Compare SVB alternatives from our partners

Find the best bank account for your business by comparing fees, minimum deposits and ATM access. Select Compare for up to four products to see their benefits side by side.

1 - 13 of 13
Name Product Fee APY ATMs Minimum deposit to open Offer
Novo Business
Finder Rating: 4 / 5: ★★★★★
Novo Business
$0
N/A
You can use any ATM with your Novo debit card. Novo will refund any ATM fees incurred at the end of each month back into your account.
$0
Enjoy free workflow integrations for your business, such as invoicing and budgeting. Get free ACH and payment processing, as well as unlimited ATM fee reimbursements. Pay $0 monthly fees with a $0 minimum balance requirement. FDIC insured.
Relay
Finder Rating: 4.2 / 5: ★★★★★
Relay
$0
N/A
Pull money from your account at any of Allpoint’s 32,000 ATMs nationwide without fear of getting charged fees
$0
Easily track income, expenses and savings for your business all in one place. With $0 account fees, $0 overdraft fees and $0 minimum balances, Relay’s business checking account and money management platform offer an affordable online banking solution to get your business off the ground. FDIC insured.
Brex Cash account
Finder Rating: 3.4 / 5: ★★★★★
Brex Cash account
$0
4.16% If you invest in money market funds
No access to ATMs
$0
Brex Cash is an innovative cash management account that lets business owners choose whether to save or invest funds. Uninvested funds are FDIC Insured up to $2.25 million. Invested funds are SIPC insured.
Bluevine Business Checking
Finder Rating: 4.6 / 5: ★★★★★
Bluevine Business Checking
$0
2.00% on balances of $0 to $250,000 You need spend $500 a month or receive $2,500 a month in customer statements.
38,000+ MoneyPass® locations nationally
$0
No hidden fees: $0 monthly, overdraft, minimum deposit and transaction fees. Get 2 free checkbooks a year. Earn 2% interest on up to $250,000 after qualifying transactions. Organize your business finances with 5 sub-accounts with unique account numbers. Receive secure logins for each team member. Member FDIC.
Live Oak Bank Small Business Checking Account
Finder Rating: 4.7 / 5: ★★★★★
Live Oak Bank Small Business Checking Account
$0
4.00%
Access over 55,000 free in-network ATMs
$100
Pay $0 monthly. $100 minimum deposit to open an account. Deposit checks, pay bills and initiate transfers online. Access a large network of 55,000+ fee-free ATMs. Connects to QuickBooks. FDIC insured.
Revolut Business
Not rated yet
Revolut Business
$0 for the Free plan
N/A
No access to ATMs
$0
Open an online business account in minutes. $0 monthly fee for free plans. Earn 1.5% cashback on all plans and up to 1.9% cashback on paid plans. Virtual and online debit cards are available worldwide, so you can easily expand your international business. FDIC insured.
Lili
Finder Rating: 4.6 / 5: ★★★★★
Lili
$9 for Lili Pro
1.50% With Lili Pro and by opening an Emergency savings account
38,000 fee-free ATMs nationwide
$0
Designed for freelancers, Lili offers a suite of tools including invoicing software, expense reports, write-off tracker, and automated tax savings. Get paid up to two days early with direct deposit and no monthly fees. Lili Pro account holders get cashback rewards, 1.5% APY for savings. FDIC insured.
Found
Finder Rating: 4 / 5: ★★★★★
Found
$14.99 monthly or $95.88 annually for Found Plus
1.50% on balances of $0 to $20,000 Only for Found Plus members.
You can use your Found card at any ATM
$0
Designed for freelancers and self-employed individuals, Found offers banking, bookkeeping, invoicing, tax withholdings and payments, and more. Manage everything from one app. Member FDIC.
Chase Business Complete Checking
Finder Rating: 2.8 / 5: ★★★★★
Bonus
Chase Business Complete Checking
$15 per month
(can be waived)
N/A
over 16,000 in-network ATMs
$0
This Chase business checking account has built-in card acceptance using a smartphone card reader. $300 bonus offer. Member FDIC.
Axos Bank Basic Business Checking
Finder Rating: 4.5 / 5: ★★★★★
Bonus
Axos Bank Basic Business Checking
$0
N/A
ATM fees reimbursed at any ATM nationwide
$0
No monthly maintenance fees, no minimum deposit requirement, unlimited domestic ATM fee reimbursements and $100 bonus. FDIC insured.
Axos Bank Business Interest Checking
Finder Rating: 3.5 / 5: ★★★★★
Axos Bank Business Interest Checking
$10 per month
(can be waived)
1.01% on balances of $0 to $49,999.99
0.20% on balances of $50,000 to $249,999.99
0.10% on balances of $250,000 to $4,999,999.99
ATM fees reimbursed at any ATM nationwide
$100
Earn up to 1.01% APY and pay no monthly maintenance fee with an average daily balance of at least $5,000. FDIC insured.
NorthOne Business Banking
Finder Rating: 3.4 / 5: ★★★★★
Bonus
NorthOne Business Banking
$10 per month
N/A
withdraw cash at any Cirrus branded ATM location (+1,000,000 locations across the U.S + 2m worldwide), including MoneyPass ATMs
$0
Budget and organize your finances with NorthOne Envelopes. Connect to QuickBooks & Square for free. Pay a flat $10 a month and avoid hidden fees, including overdraft, ATM and ACH transfer fees. Get the first month free. FDIC insured.
Square
Finder Rating: 4 / 5: ★★★★★
Bonus
Square
$0
N/A
Anywhere Mastercard is accepted
$0
Use your business debit card anywhere Mastercard® is accepted, with no monthly fees, sign-up fees, or annual fees. Member FDIC.
loading

How to compare business bank accounts

If your business was affected by the government’s seizure of Silicon Valley Bank, you’re likely focused on protecting your assets. Who you bank with plays a critical role in the daily operations of your business.

When you’re ready to transfer your money to another bank, look for low fees, competitive interest rates and features designed to protect your business and simplify how you manage your money:

  • Fees. Look for business accounts with low or minimal fees that are easily waived by meeting deposit, balance or transaction requirements. Confirm that overdraft and other penalty fees are reasonable.
  • Interest rates. Increase your profitability and give inflation a run for its money with a bank that offers competitive interest rates on savings, checking and CDs.
  • Account minimums. Make sure minimum balance or opening deposit requirements are low and align with your cash flow.
  • Online banking. Most banks that cater to startups offer robust digital banking services that include online account management, bill pay and mobile banking on the go.
  • ATM access. Weight ATM availability for your business to access fee-free or low-cost cash withdrawals.
  • Merchant services. If your business accepts credit card payments, consider a bank that offers payment processing with fees that fit your transaction volume.
  • Software integration. Most business bank accounts offer integrations for accounting, payroll and taxes. For example, Bluevine syncs with popular business tools like QuickBooks, Stripe and PayPal.
  • Access to credit. A relationship with a business designed to grow with you will offer low-cost business loans or lines of credit at competitive rates and terms.
  • Fraud protection. Fraud protection and account monitoring helps you spot suspicious account activity, so that you can report it to your bank before you’re held liable.
  • Customer support. The best banks for startups and small businesses offer access to a dedicated business banking representative, live chat and quality customer service as you scale.
  • FDIC insurance. As a rule of thumb, confirm that any digital or online bank is backed by the FDIC, which protects balances of up to $250,000.

    Are online and digital business banks safe?

    Yes. Like brick-and-mortar banks, online and digital banks are insured by the FDIC for up to $250,000, which protects you and your money in the unlikely event of a bank failure.

    Online banks are built on traditional banking infrastructure, so they look and feel a lot like traditional accounts, helping the best online and digital banks to offer fewer fees and higher interest rates than your corner branch.

    Digital banks are built on brand-new infrastructure, and often have more tech-forward features, like early direct deposits and the ability to budget and save for specific goals directly in the mobile app.

    Featured picks for alternatives to Silicon Valley Bank

    Best for accountants and bookkeepers

    Novo Business

    Go to site
    on Novo's secure site

    • $0 monthly fees
    • $0 minimum balance
    • ATM fees refunded
    • Invoicing & budgeting
    • FDIC insured

    Best for team access

    Relay

    Go to site
    on Relay Financial's secure site

    • $0 fees and minimum balances
    • Up to 20 individual checking accounts
    • QuickBooks Online and Xero integrations
    • FDIC insured

    Best for startups

    Brex Cash account

    Go to site
    on Brex's secure site

    • Zero fees
    • Flexible saving options
    • No cap on transactions
    • FDIC and SIPC insured

    More guides on Finder

    Ask an Expert

    Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

    By submitting your comment or question, you agree to our Privacy and Cookies Policy and finder.com Terms of Use.

    Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.

    This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
    Go to site