Compare neobanks and traditional banks for startups in 2023 — fees, wire limits, VC-friendly features, and how to pick the right primary account.

# Banks for Startups in 2023

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Choosing the right bank is one of the most important early decisions a startup founder makes. In 2023, the landscape has shifted dramatically — especially after the SVB collapse — and founders need to be more strategic than ever.

## Top Banks for Startups

### 1. Chase Business Banking
Chase remains the best overall bank for startups. With a massive branch network, robust online banking, and integration with most accounting software, it's a reliable choice for early-stage companies.

### 2. Mercury
Mercury has quickly become the go-to neobank for venture-backed startups. With no fees, FDIC insurance through partner banks, and a sleek dashboard designed for founders, it's ideal for tech companies.

### 3. Brex
Brex offers a combined banking and credit card solution tailored for startups. Their cash management account provides competitive yields, and their corporate card doesn't require a personal guarantee.

### 4. Relay
Relay is a great option for startups that want to separate funds into multiple accounts for budgeting purposes. Their fee-free model and collaborative features make it easy for teams to manage finances.

### 5. Silicon Valley Bank (now part of First Citizens)
While SVB's collapse shook the startup world, the bank continues to operate under First Citizens. Many existing clients have stayed, though new startups should evaluate carefully.

## What to Look For

- **FDIC Insurance**: Ensure your deposits are protected
- **Integration**: Look for banks that connect with QuickBooks, Xero, or your accounting stack
- **Fees**: Many neobanks offer zero-fee accounts
- **Credit Products**: Consider banks that offer lines of credit or corporate cards
- **Customer Support**: Startups need responsive support, especially during fundraising

## Our Recommendation

For Israeli startups operating in the US, we typically recommend Mercury or Chase as a primary bank, with Brex as a complementary credit card solution. The combination gives you modern tooling with the reliability of established infrastructure.

Contact us if you need help setting up your US banking structure.