SVB has powerful mobile apps for iOS and Android devices that offer access to various tasks and services to manage your business banking from anywhere. SVB has accounts specifically for businesses with higher transaction volumes that offer unlimited transactions with no extra fees. Startups incur significant operating expenses, especially from the onset, and put a lot of money into equipment, bills and supplies.
To help, SVB offers a free business checking account and low-interest rates for business credit cards and loans. 37% of startups fail because of cash flow issues, especially during the early phases when cutting expenses are essential. Some of the startup-specific benefits SVB offers include free checking, 2x unlimited credit card points, 1% interest on savings, and access to a marketplace of discounted services. It even offers a suite of global banking services for startups with global ambitions. The deep institutional startup knowledge, proactive support, variety of banking tools and community of SVB make it an ideal banking partner for entrepreneurs responsible for early-stage tech startups to later, growth-stage startups. SVB’s reputation is so renowned that 50% of venture-backed tech and life science companies in the US bank with SVB. Silicon Valley Bank (SVB) specializes in startup banking and has an entire team focused on tech financing. Pros and Cons of the Best Banks for Startups Silicon Valley Bank (SVB) See also: Brex vs Divvy vs Ramp vs Stripe: Head-to-Head Comparison of the Top 4 Corporate Credit Cards for Startups While no means an exhaustive list, and every startup has different needs, continue reading for a comprehensive overview of the best banks for startups, followed by a head-to-head feature comparison. Whether you’re just getting started or looking to optimize your funds, these are the best banks in Silicon Valley and beyond, that we see venture capital-backed startups working with most when they come to Zeni. Fortunately, many banks offer accounts for tech startups that come with perks such as low fees, convenient mobile banking, and other rewards dedicated to small businesses.
* 2Visa's Zero Liability Policy covers U.S. Cardholders earn 1 point per dollar on all other purchases. * 1Cardholders earn 3 points per dollar on purchases with MCC codes: 5411 (Grocery Stores), 5541 or 5542 (Gas), 5310 (Discount Stores), 5812 (Restaurants) and 5814 (Fast Food).