There are multiple credit screening systems for potential consumer banking customers, but the most common is ChexSystems. If you’re looking to avoid this screening system, look for an online business checking account that doesn’t use ChexSystems. These accounts allow you to open a new checking account, despite any previous negative banking activity. What Is ChexSystems?…
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What Is a Money Market Account?
A money market account is an interest-bearing account that typically pays interest rates higher than a savings account. Your funds are kept liquid, and you earn a lower interest rate than other investments because money market accounts are considered safe investments. Money market accounts give you the ability to write up to six checks per…
Bank of America vs Chase Business Accounts: Which Is Right For You?
Bank of America offers two business checking accounts: Business Fundamentals Checking and Business Advantage Checking. Meanwhile, Chase offers three accounts: Total Business Checking, Performance Business Checking, and Platinum Business Checking. Each account provides a different monthly allowance of free transactions and cash deposits. The right account for you typically depends on the number of monthly…
How to Open a Sole Proprietorship Bank Account in 5 Steps
Setting up a bank account for a sole proprietorship is a simple process and can be done in five steps. You can start by registering your business name, finding the best account to open, and gathering the required documents. Once you have the required documents, you can apply online or in-person at your local branch….
How to Open a Business Bank Account in 6 Steps
Opening a business bank account can help you improve your cash flow by separating your business and personal finances. To open an account, you’ll need to follow a six-step process that includes choosing the right type of account, finding the best bank for you, understanding the costs, gathering the required documentation, submitting your application, and…
5 Best Banks for Small Business 2020
The best banks for small business owners offer a variety of banking products that help you grow, fund, and maintain your business. These business products typically include checking accounts, savings accounts, credit cards, and loans. Choosing one bank that caters to all your business needs typically is more convenient than opening different types of accounts…
9 Best Small Business Checking Accounts August 2020
Editor’s note: This is a recurring post with regularly verified account details. Small business checking accounts provide a handy and easy way to separate your business and personal finances. As a business owner, you can choose between online and traditional brick-and-mortar banks. Online accounts are suited for businesses that don’t need to visit a physical…
9 Best Free Business Checking Accounts August 2020
Editor’s note: This is a recurring post with regularly verified account details. There are two types of free business checking accounts: those that don’t charge monthly account fees and others that do but make it relatively easy to avoid them by meeting minimum balance requirements. These accounts typically also offer an allowance of free monthly…
Azlo vs Novo: Which Business Bank Account Is Right for You?
Both Azlo and Novo are digital banks that offer low-cost small business checking account options. These accounts are designed for businesses that don’t handle daily cash transactions because neither bank provides physical branch locations or accepts cash deposits. However, both accounts provide a suite of business tool integrations, including accounting software and payment services, that…
6 Best Business Savings Accounts of 2020
Editor’s note: This is a recurring post with regularly verified account details. Business savings accounts are one of the best tools available to help you meet your savings goals while safeguarding funds. The best option boils down to two types of accounts: online or traditional. In most cases, you’ll get the most robust return on…
7 Best Online Business Checking Accounts 2020
Editor’s note: This is a recurring post with regularly verified card details. If you’re a small business that doesn’t normally handle cash, it’s fairly easy to use online checking accounts for your banking needs. The best options come with low-cost business checking along with bank features like in-network ATMs, ATM fee reimbursements, and seamless app…
6 Best Money Market Accounts & Rates 2020
The best money market accounts (MMAs) pay the highest annual percentage yields (APYs). While money market rates typically vary for each bank, you can expect the best rates to be over 1%. Opening an MMA ensures that you’ve tucked your money somewhere safe while you earn a decent return as well. Best Money Market Accounts…