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Banks for startups in 2023

Several banks will be great for startups in 2023. According to [Fit Small Business][1], Chase is the best overall bank for startups with full-service banking, while Novo is the best digital-only bank for rapid access to funds and faster payments. Mercury is the best digital bank for larger-scale incorporated startups.

Startupsavant.com[2] recommends Lili as ideal for solopreneurs, Relay as the best online banking platform, Novo as great for e-commerce businesses, Brex as optimum for venture-backed startups, Chase Bank as good for in-person banking, and NorthOne for easy payment processing integration.

Zeni.ai[3] suggests comparing Mercury, Brex Cash, First Republic Bank, and Wells Fargo to find the best startup bank.

Bank of America and Citi Bank are also popular choices for startups due to their range of services and resources. Bank of America offers a Business Advantage Checking account with no monthly maintenance fee for qualifying startups. In contrast, Citi Bank provides various business banking products and services, including a Business Checking Account with no minimum balance requirement.

Regarding the recent Silicon Valley Bank (SVB) collapse, it is essential to note that SVB is a specialized bank primarily focusing on venture capital-backed startups. The collapse of SVB highlights the importance of diversifying banking relationships and not relying solely on one bank for all your financial needs. It's also essential for startups to choose a bank that aligns with their specific needs and goals and regularly evaluate their banking relationships to ensure they get the best possible services and rates. Bank of America and Citi Bank are well-established banks offering a wide range of services, making them solid options for startups looking to avoid potential risks associated with specialized banks.

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Several banks in Europe are great for startups. One of the most popular options is [Revolut][1], a digital bank that offers a range of services, including multi-currency accounts, international payments, and expense management tools. Another option is [N26][2], a German-based mobile bank that offers free business accounts with unlimited transactions and real-time payments. In France, [Qonto][5] is a popular choice for startups, offering a range of business banking services, including a business account with no setup or monthly maintenance fees. Another option is [Shine][6], a digital bank that offers a range of services for freelancers and small business owners, i


Including automated invoicing and tax management tools. Overall, the European banking market is highly competitive, with many banks offering tailored services for startups, making it essential for entrepreneurs to carefully consider their options and choose a bank that aligns with their specific needs and goals. Sources:




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