The Pine Tree State has a lot to offer for flourishing companies, large and small. Getting established in Maine is straightforward, but professionals need a trustworthy resource for managing their finances. Discover the top business checking accounts for Maine businesses to keep assets secure in 2025.
1. Machias Savings Bank
One of the best banks in Maine for business checking accounts is Machias Savings Bank, with locations all over the state. Its team has curated services for large commercial entities and small businesses. Mobile and online banking handle everything from payroll to syncing to budget software. Machias ensures that all financial tools can be streamlined into one place, no matter where employees are working from.
It also offers assistance with establishing payment methods. Machias has a dedicated Cash Management Team for companies needing assistance with establishing credit card processing. Its employees promise customers never have to navigate lengthy service menus or wait in line on-site to receive help with accounts, highlighting how important their customers are.
There are even video tutorials to make digital tools more accessible. This guidance, in addition to its remote deposit capture, ACH, and wire functionalities, ensures there is never a moment when owners need to question whether they have a positive balance. The workers also leave a positive mark on Maine with their Impact Report, showing the bank helps over 600 organizations and dedicates thousands of hours of volunteer time to good causes.
2. Maine Community Bank
Maine Community Bank is a state staple, helping out companies with four types of unique business checking accounts, including:
- Smart business: Small- to medium-sized businesses
- Enterprise business: Big companies with many transactions
- Interest business: Interest-accruing accounts based in tiers
- Charter checking: Nonprofits and other organizations needing flexibility
Its team also helps up-and-coming professionals access loans. Managers can reduce decision fatigue about what borrowing options are best for them by talking to Maine Community Bank’s team. They talk to their client and pair them with the solution best suited to their needs, like a commercial real estate loan. They also work in collaboration with the Finance Authority of Maine to offer nontraditional startup business loans.
3. Atlantic Federal Credit Union
Atlantic Federal Credit Union ensures that nearly any company, no matter how established, can get a checking account. There are no maintenance fees or a minimum balance to get started. Its business checking account offers integration with programs like Quickbooks to make accounting management less cumbersome.
One of Atlantic Federal’s top considerations is accessibility. It has shared branching, meaning funds and services are available at over 5,000 locations throughout the state.
Its premium business checking account also lets companies earn more from being loyal customers. The account earns dividends on the balance and includes merchant processing services to expand revenue opportunities further.
4. Saco & Biddeford
Saco & Biddeford offers a different structure that might be enticing to all business sizes. Its checking accounts provide perks to companies based on their monthly balances. All accounts feature many of the same perks, including these free features:
- Bill pay
- Telebanking
- Mobile wallets
- Merchant deposit
However, organizations can pick a solution that can benefit them as they grow. For example, the Business Balance 25k account waives its $10 per month maintenance fee if the owner has an outstanding balance of $25,000. These accounts become a lot more enticing because each earns interest if account holders maintain these minimums. This allows Maine businesses to earn money by simply doing regular operations.
It also has specialty accounts, like ones for lawyers, realtors and nonprofits. These are wonderful because it highlights this bank’s willingness to collaborate with other state organizations, like the Maine Bar Foundation and the Maine Association of Realtors.
5. Maine State Credit Union
Local banks will be pivotal in establishing resilience for Maine businesses as economic shifts are anticipated for 2025. Maine State Credit Union is a great option for anyone wanting to prepare. It offers basic and premium business checking accounts, scaling its features according to the client’s needs. It also offers a business money market account with competitive interest rates. This makes sure any standing money outpaces inflation, encouraging greater stability over time.
Maine State Credit Union also offers business savings accounts, which help companies prepare for emergencies. Many banks enforce withdrawal limits, but Maine State lets account holders maneuver funds at their leisure.
With its merchant card processing assistance, the credit union makes sure everyone is equipped to handle the new technology responsibly with terminal deployment and training. Every small to large business will feel adept at whatever payment options they have, feeling confident with every transaction.
6. Bangor Savings Bank
Bangor Savings Bank offers many of the wonderful benefits of local Maine banks, such as options for businesses of several sizes, interest-earning accounts for nonprofits and promises of FDIC protection. However, Bangor also offers a few unique services with years of experience in the state backing the consultations with clients.
First is its no return benefit. Everyone runs into reconciliation errors, especially at the start of a small business. This protection helps avoid overdrafts, fees and uncomfortable merchant conversations. If necessary, Bangor can help open lines of credit if cashflow is a concern. It was also one of the first to launch a checking account for people with disabilities back in 2021.
For entities with more complicated financial needs, Bangor has its Business and Government Checking with Analysis account and a similar product but with interest. These help corporate partners identify their spending habits and track transactions at a more granular level. Regular contributions to these accounts also waive any related monthly charges. The interest version of this account compounds daily.
The Top Banks for Maine Small Business
Ensuring business success requires financial security, and finding the best checking out for this can be a cumbersome task for new owners. But finding the right financial institution for a business checking account has never been easier with the best options Maine has to offer. Contact one of the above to have peace of mind on every financial inquiry, setting your company up for a bright and long future.
Image Credit: Photo by Michael Denning; Unsplash
