What to Look for in the Best Business Checking Accounts
If you own or operate a business, then chances are you have a business checking account. You just make deposits and withdrawals as needed. Unfortunately, people don’t often shop and research their business checking accounts and that means they could be missing out.
Shopping for the best business checking accounts means you can find the options best suited to your business. When it comes to your business banking, you want to make sure you get the most bang for your buck.
Here’s what to look for in the best business checking accounts so you can maximize every dollar.
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Low to No Monthly Maintenance Fee
Typically, the best business checking accounts will have low to no monthly maintenance fees. They know you are going to use the account and you shouldn’t be charged for it. While it seems like this should be a no brainer, many banks will charge you to access money in your business checking account,
The best business checking accounts won’t do this. The monthly maintenance fee should be low or non-existent. If there is one, you should be able to offset it with a minimum daily balance or an earnings credit from your average daily balance. Ingenious, right?
Customized to the Number and Type of Monthly Transactions
The best business checking accounts will have options customized to the number of monthly transactions you think you’ll have. An ACH transfer should not cost the same as writing a check and the cost should be minimal to boot.
If that’s too much to think about then the best business checking accounts will have simpler options. They will also offer accounts which are more customized for nonprofits, attorneys, sole proprietors, and even high volume accounts. The fact that it’s a business account means you should have more options, not less.
Personalized Options for Nonprofit & Attorneys
The best business checking accounts will offer personalized options for nonprofits and attorneys specifically. They are in nearly every city in America and it’s about time they have specific options. The best business checking accounts for nonprofits and attorneys will have options like low monthly maintenance fees avoidable with a very minimum average daily balance or maintenance fees deducted directly from interest earned on the account. Someone should have thought of this sooner.
Optional Benefits to Earn Interest or Offset Monthly Maintenance Fees
The best business checking accounts will have optional benefits to either earn interest on the average daily balance or offset the monthly maintenance fees. Yes, they can do that. These are very simple options that really should be offered everywhere but they just aren’t. The best business checking accounts will have advantages suited to your business instead of charging for every single transaction.
Shop for the Best Business Checking Accounts Today
If you have a business, then perhaps you should consider shopping the best business checking accounts to see which benefits you may be missing out on. Owning a business is much more common these days and it should come with advantages at the bank, too. Instead of nickel and diming you to death, the best business checking accounts will offer benefits and options as unique as your business. Maybe it’s time to start shopping for the best business checking accounts today.
