Commercial businesses need options for securing their money with readily available access. This can often be done with a business checking account, which may simplify such processes as account reconciliation, expenses tracking and cash flow management. Many banks across the nation offer business accounts complete with personalized checks and a debit card. However, some financial institutions provide more bang for the buck, with free offers and tiered interest rates that accommodate small and large corporations alike. Provided here, therefore, is a list of the four best business bank accounts.
Bank of America provides businesses with a choice of two different business accounts. The first is called the "Business Advantage Checking Account" and caters to owners of small- or medium-sized businesses. The second, "Business Checking Account," is a basic account more ideal for businesses with only one or two team members. The Advantage account requires deposits of at least $10,000 per month to avoid service fees, but it offers more perks than the basic option. Both can be considered among the best business bank accounts available.
Chase Bank routinely offers deals whereby customers can receive $100 with a new business checking account. In addition to a Chase Premier Checking Account that waives all monthly services fees, the bank also offers merchant and payroll services. Lines of credit, certificates of deposit and credit cards designed just for businesses are also available from Chase. In this instance, one of the best business bank accounts may provide money-saving perks as well.
Key Bank is perhaps lesser known than Bank of American and Chase, but the company provides commercial customers with four different business checking accounts. The first option is a basic account that does not require a minimum monthly balance. Similarly, the money market checking account is also considered basic, but it awards tiered interest rates and is available to sole proprietors and nonprofit organizations. Two premier accounts are also available to provide business owners with discounts on products and services or combine checking and investment activities in one account.
Wells Fargo is one of the most recognized banks in the nation. The company offers three different checking accounts for businesses, including a simple option that requires a minimum deposit of $100 to get started. The second is ideal for those who require access to a number of transactions, and the third awards interest. Such options mean the best business bank accounts put a company's money to work in a safe and convenient management vehicle.
By Justin Cooke
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