When it comes to setting up a business, there are a lot of things to consider such as finding the best business bank account that’s suitable for you. It can sometimes be hard to track the most suitable deal or package, or sometimes there’s just too many to choose from. So what makes a business bank account stand out from the others? Check out the following information below for the best business bank accounts in the U.S.
Best business bank accounts for small businesses
If you are looking for the best business bank account for small businesses online, then it is highly recommended to join Blue Vine. This popular bank company offers an exceptional customer service with no added fees and the online banking system is free.It is also a great choice if you’re a business owner that wishes to apply for loans and a great interest rate.
However, for the best small business checking account it is advised to join Chase, since it has attractive interest rates and a clear banking structure that business owners can follow. Their customer service can be offered online or in over 48,000 physical branches that they have. They also welcome all sizes of small businesses and always offer professional assistance for business solutions.
America First is also considered to be one of the best banks for small business, since they offer great credit union to businesses in Riverdale and Utah. The structure of this bank is to offer three types of business bank accounts, so that it’s suitable for everyone. The fees vary, depending on the type of business bank account you choose.They have a basic option, premier option and a High-Yield option.
Their packages include a certain amount of free transactions monthly, low volume accounts, free online billing and different types of credit. There are different startup fees depending on the package that you choose.
What’s the best business bank account for loans?
Even though many business bank accounts offer business loans at a competitive interest rate, there is one that stands out and has been praised by the SBA (Small Business Administration).
The Huntington National Bank is known to offer the best solution to business customers, with a high interest rate that is guaranteed to make your money grow. Their processes for applying makes it easy, for they offer a professional and helpful customer service. They do also offer a checking account for businesses, but it comes with a low interest rate that may cause an obstacle for money growth.
What’s the best small business bank account for physical stores?
When it comes to setting up a business bank account for a physical store, it is recommended to sign up with Fargo. This banking company is designed to help small physical businesses and has over 8,000 branches across the U.S. It is also another banking company that’s been highly praised by SBA and is known to offer a good incentive for loans.
There are four different types of business bank accounts for small businesses and they all vary within the packages that they offer. These are: Simple Business Banking, Business Choice Checking, Platinum Business Checking and Analyzed Business Checking. Each package offers different types of incentives such as the amount of transactions the business usually needs to receive monthly, the total amount of cash deposits the business relies on per month, online banking and other features. There are fees and start up prices for each package.
Choosing the right business bank account is important for your business and highly beneficial. It is an advantage to business owners, because you automatically receive the extra help and support needed through the customer service and business loans that can make your company credible. There are different incentives out there that are suitable for small businesses.