The making of 'Business Essentials': How U.S. Bank is changing the SMB banking game with its all-in-one checking account - Tearsheet

"For small businesses (SMBs), the day-to-day doesn't break neatly into categories like 'banking' and 'payments.' Cash flow, customer transactions, and keeping the lights on all blend into one continuous cycle. Yet, for years, banks and fintechs have often provided for these as separate functions: one managed through a checking account, the other through payment processing tools. That divide has meant extra logins, added costs, and delays that matter more when margins are thin."

"That's the space U.S. Bank entered in April 2025 with the launch of Business Essentials, a business checking account tailored for SMBs. Business Essentials combines checking and payments with perks like same-day card sale funding, discounts, and access to the bank's wider cash flow and digital tools, simplifying everyday financial management for SMBs. The clarity of vision and a strong focus on product strategy earned U.S. Bank's Business Essentials the 'Best New Product' at Tearsheet's The Big Bank Theory Awards 2025."

U.S. Bank launched Business Essentials in April 2025 as a business checking account that integrates checking and payments for small and medium-sized businesses. The product offers same-day card sale funding, discounts, and access to the bank's broader cash flow and digital tools to reduce logins, costs, and payment delays that strain tight margins. A national survey by U.S. Bank found 80% of small business owners prefer bundled digital banking, payments, and operations tools, prompting the product focus on consolidation and simplicity. Business Essentials won Tearsheet's Best New Product at The Big Bank Theory Awards 2025, reflecting strong product strategy and market fit.

Read at Tearsheet