Rayanne Harmon

A money services business (MSB) is a non-bank financial institution, business, or person engaging in money transmission, money conversion, or money exchange. These include selling money orders, cashing checks, and exchanging foreign currency. MSBs are regulated by the Financial Crimes Enforcement Network (FinCEN), must follow all the regulations set by the Bank Secrecy Act (BSA),…

Chase and Wells Fargo business checking accounts offer great options for online and in-person banking services. I’ve carefully reviewed each to define the similarities and differences. Chase Business Complete Checking provides 20 free in-person transactions and unlimited electronic transactions for a waivable $15 monthly fee. Meanwhile, Wells Fargo offers the Initiate Business Checking account, which has…

The internet-only banking solutions Bluevine and Axos Bank have designed innovative business checking solutions that help small businesses get ahead. Their low-tier checking accounts, Bluevine Standard Checking and Axos Basic Business Checking have no monthly fees, minimum opening deposits, and required minimum balances. When comparing Axos vs Bluevine, it’s important to consider account features along…

The short answer to this question is no. Due to regulatory changes, this process has been refined over the years and generally requires a business relationship with a bank. Walking into a bank, endorsing the back of a business check, and requesting cash is not handled like it once was. Under certain circumstances, this may…

The process of changing business banks requires you to determine your banking needs, research options, prepare required documents, set up automatic payments again, and even close your old bank account. However, in the end, picking the right business bank is rewarding. It’s normal for small business owners to want to change business bank accounts when…

Commercial general liability insurance, often called CGL insurance, helps protect businesses from costly third-party claims like bodily injury, property damage, and personal or advertising injury. A standard commercial general liability policy can cover everything from a customer slipping in your office to damage caused by your work. For many small businesses with around $200,000 in…

Both credit unions and banks offer products and services that can help your small businesses, but you may find one preferable to the other depending on your business needs. When deciding between a bank or credit union for small businesses, consider some of these factors: When to Use Each Credit Union You prefer fewer fees…

Online banking is an internet-based electronic banking service that allows customers to manage their finances electronically using a computer or mobile device. Due to technological advances, nearly all banks offer an online banking option. This allows business owners to keep up with their finances on the go and continue running their business without interruption. How…

Hancock Whitney has three checking accounts designed to fit the needs of business owners at various stages of business growth and development. The Essential Banking account has no monthly fee and allows customers to process a fairly high amount of paper, electronic, and cash transactions monthly with no additional fees. The bank also offers various…

Bluevine and Mercury offer competitive options for business owners searching for a robust digital banking platform at an affordable cost. Bluevine is well-known for offering an industry-leading interest rate of 1.3% on qualifying checking balances for Standard Checking and 3.0% for Premier Checking, which makes it an excellent option for businesses looking for the most…

Business owners located in Burbank, California, will find an affordable business checking option at UMe Credit Union. It has only one account to choose from; however, it comes with all the features you need for daily money management. It also pays interest on balances over $5,000. To open an account, you must be a member…

Fifth Third Bank has three checking accounts tailored to meet the needs of businesses at various levels. Each has standard features—such as a business debit card for each signer, online banking, bill pay, mobile banking, mobile deposit, discounted payroll, text alerts, and overdraft protection. The entry-level account has a $0 monthly maintenance fee and includes…