Do you need a business checking account? Choosing a Commercial Checking Account can be an overwhelming task, given the variety of options. A trustworthy business checking account can benefit you with multiple perks at no cost, so it is worth researching before deciding which arrangement suits your business and budget best. Online banking is more popular than ever, with 13% of the 127 million adults in America have used it during the past 12 months. Accessible business checking accounts offer an alternative to traditional checking accounts. If you are a small business owner, one of the many things that you will have to do is choose a statement with which to run your company’s finances. You will want to ensure that you select an account that will help you maximize your profits while also providing the service and convenience you need.
These days, it’s not enough to have money in the bank to be considered a viable business. Suppose you’re dealing with customers, suppliers, and other businesses through bank accounts and credit cards. In that case, you want to make sure they don’t hold lingering negative opinions of your company—the best way to take care of this is to set up some business checking accounts to keep things organized. Below, we’ll discuss some of the fundamental reasons opening a business checking account is vital for running your company.
Here are the best 13 accessible business checking accounts to open today:
- Radius Bank Tailored Checking Account
- Capital One Spark Business Checking account
- Simple Business Checking Account by Axos Bank
- BlueVine Business Checking account
- First Foundation Bank Free Business Checking account
- Aspiration Summit Account for Businesses
- Charles Schwab Bank High Yield Investor Checking account
- NBKC Bank e-Checking account
- Citizens Access Free Digital Business Checking Account
- Bank5 Connect High-Interest Business Checking account
- BMO Harris Smart Advantage® Business Checking SM account
- Wells Fargo Small Business Checking
- Bank of Internet USA – Free Business Checking
When choosing a business checking account, there are a few things to look for:
- Does the bank support your business type? Some banks only work with certain businesses and won’t offer services to those outside their list of preferred accounts or those with higher risk profiles.
- What’s the minimum deposit? You may want to avoid opening an account with a bank that requires a substantial minimum deposit — especially if your business is starting.
- What are the fees and other requirements? Look for low-fee options that keep your budget in check.
- No monthly fee or balance requirement: Free means free — no monthly fee and minimum balance required.
- No transaction limits: They could charge extra for each transaction over a certain number each month or have a cap on the dollar amount of transactions per month.
- Free cash deposits: Some banks charge for deposits using an ATM or at the teller window. Look for a bank that allows unlimited cash deposits at no charge.
- Free online Bill Pay: Bills will be one of your most significant expenses, and you want to make sure you can pay them electronically without getting charged by your bank.
Gone are when a checking account meant little more than a place to deposit your money. Many checking accounts, especially those offered by online banks, come with the same perks as other types of business bank accounts. They can help you save, automate your finances, and manage expenses for free or very low monthly fees. While online banks have been rising over the past few decades, they’re nowhere near as standard today as traditional institutions, brick-and-mortar banks. In fact, according to the FDIC, only around one in three Americans choose an online bank for their checking account or to house their money.
When it comes to checking accounts, some people need access to a physical location where they can go in person if they ever have any issues. Of course, it helps a lot if that physical location is excellent and close by to your business. Fortunately for you, we’ve compiled a list of the best accessible business checking accounts from across the country so that you don’t have to waste your time researching different options yourself—and so you can kickstart your search for the best choice for your business. Remember that zero balance and no monthly costs aren’t always the most important factors to consider when choosing where to open your account.