If you’re a small business owner or an entrepreneur, you should get a Small Business Checking Account. There are some with avoidable maintenance fees or none at all, which can save you a lot of money!
Citizens Bank Clearly Better Business Checking
If you live or work on the East Coast, you’ll benefit a lot from this account. There’s a low minimum opening deposit of $100 and no monthly maintenance fees. You can enjoy a high transaction limit each month, up to 200 items, and nice overdraft options. On the flip side, there are no APY offers and a $0.50 fee for every item after you’ve reached the monthly transaction limit.
Axos Bank Basic Business Checking
This company offers an application option that’s completely made online. You’ll also get the possibility of remote deposits and no monthly maintenance fee. There’s no interest and you need $1,000 to open the account, but you’ll get a transaction limit as high as the last option: 200 items, after which there’s a fee of only $0.30 per item.
Huntington Bank Unlimited Business Checking
If you need to make frequent transactions, you should check this option that offers no limits for it. While there’s a $20 monthly maintenance fee, it can be waived if you keep an average balance of at least $10,000. You won’t get any APY, but its interesting perks may convince you. These include discounts on payroll services and more benefits.
TIAA Bank Business Checking
This option has a wide offer of mobile-friendly features that can make your experience very enjoyable. There’s a minimum deposit of $1,500 and a $14,95 maintenance fee each month, but the latter can be avoided with a minimum $5,000 daily balance. The transaction limit is 200 items, after which there’s a $0.25 fee per item.
NBKC Business Checking Account
You can easily deposit checks from this option’s mobile banking app while profiting from its wide ATMs network. There are no monthly maintenance or transaction fees, although you won’t enjoy any APY benefits. If you’re looking for a checking account without any minimum balance requirements, though, this is it!
If you own a small business, there are other things you’ll have to be aware of. For example, you need to avoid grant scams and get a Business Credit Card. These two can help your business grow without heavy bumps on the road. Additionally, check these 3 things you need to know about retirement accounts!