Ricci Recto

If you’re a real estate investor needing an all-in-one financial technology (fintech) solution that covers business banking, rent collection, and bookkeeping, Baselane and Stessa are your best options. Both offer robust property management software with interest-earning business checking options. Baselane prevails over Stessa because its products are free. It also offers more features, such as…

Brex and Mercury are great digital solutions for tech startups. Both offer digital banking services that integrate with popular tech tools like QuickBooks and Xero. They also provide access to a number of useful banking products, such as corporate cards, venture debt, and high-yield treasury accounts. However, when comparing Brex vs Mercury business checking, Brex…

If you’re looking for an online bank with a competitive savings account for your business, then First Internet Bank is an excellent choice. Its regular savings account provides an annual percentage yield (APY) of 0.91% for a monthly maintenance fee of $2, which you can waive with a $1,000 daily balance. It also offers a…

If you currently have an American Express consumer or business credit card, then your business is eligible to open a business checking account with American Express. The account has no monthly fees and minimum balances, and customer service via phone is available around the clock. Businesses eligible for an account can get a 1.30% annual…

While national banks might be better for businesses that need larger branch networks and product selections, having a smaller scope helps community banks provide services that are faster, cheaper, and more personalized. Choosing a community bank business account also helps stimulate your local economy by creating local bank jobs, funding local businesses, and providing revenue…

If your business needs an online-only business checking solution, Bluevine and First Internet Bank are worth checking out. Bluevine’s standard business checking account lets qualified accounts earn a competitive annual percentage yield (APY) of 1.3% on balances of $250,000 or less, which is significantly higher than the national average. Bluevine also offers subaccounts, allowing small…

PNC Bank is an excellent traditional bank with three business checking options. All accounts have waivable monthly fees, Cash Flow Insight® tools, and online and mobile banking access: Business Checking is ideal for basic business needs and offers up to 150 fee-free monthly transactions and $5,000 free cash deposits. Business Checking Plus suits businesses with…

The process of how to open a business bank account for an LLC involves forming a limited liability company (LLC) through your state’s secretary of state, getting an employer identification number (EIN), choosing a bank, then preparing your application documents. Following these steps helps you separate personal and business finances, which enables the limited liability…

A dormant business bank account occurs when an account has no owner-initiated transactions—such as withdrawals, deposits, and cash, check, automated clearing house (ACH), or wire transfers—for more than 24 months. This can apply to deposit, investment, and retirement accounts. Interest accrued is not considered a transaction to keep an account active. Dormant business bank accounts…

If you want to take your money further, you should consider opening multiple business bank accounts. Separating your expenses into dedicated accounts can help you make your cash flow clearer, which simplifies budgeting, expense tracking, and financial goal-setting. You can have multiple business bank accounts under one provider, open accounts with multiple providers, or create…

Annual percentage yield (APY) refers to the total amount of interest that you can earn on a deposit within one year. Because APY compounds, the APY on account will be slightly higher than the stated interest rate. In other words, you can earn interest on previously earned interest with APY. APY is important because it…

If you’re looking for a business checking platform that can help you lessen the load of business paperwork, consider Lili, a business banking and bookkeeping platform. It offers four types of business checking accounts: A free plan with basic banking features. A $15 option with basic bookkeeping features. A $35 plan with streamlined bookkeeping and…