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….
All Banking Articles - Page 2
5 Best Banks for Small Business in 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…
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 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…
What Is a High-yield Savings Account?
High-yield savings accounts typically earn annual percentage yields (APYs) that are much higher than standard savings accounts—up to 25 times the national average. Since online banks offer the highest interest rates on savings accounts, savers who aren’t adverse to internet banks will get the best high-interest savings accounts available. High-yield savings accounts are some of…
12 Best CD Rates 2020
A certificate of deposit (CD) is a bank account that offers a premium interest rate provided the entire deposit amount remains untouched for a fixed, predetermined period. If the CD account is withdrawn before maturity, it will be penalized. The best CD rates include annual percentage yield (APY) rates up to 2.60%, depending on the…
How to Open a Free Business Checking Account Online With No Deposit
There are a few places to open a free business checking account online with no deposit, but they are rare. Most business checking accounts, including the free ones, require a minimum deposit of $25 to $1,000 to open an account. However, if you do find one, these accounts can offer free checking with no monthly…
What Is a Certificate of Deposit and How Does It Work?
A certificate of deposit (CD) is a time-deposit savings account that earns interest for a predesignated period of time. When learning how CDs work, know that CDs have term periods between 21 days and 10 years. The longer the term, the higher the interest rate. You won’t be able to withdraw your funds until the…
Wells Fargo Business Choice Checking Review 2019
The account is designed for new and growing businesses wanting to make up to 200 monthly transactions. Owners can deposit up to $7,500 in cash each month for free. You’ll avoid the $14 monthly fee by maintaining a $7,500 average account balance or $10,000 in combined balances. The best small business checking accounts for growing…
Wells Fargo Platinum Business Checking Review 2019
The Wells Fargo Platinum Business Checking account is designed for established businesses wanting to make as many as 500 monthly transactions. Owners can deposit up to $20,000 in cash each month, free of charge. You can avoid the $40 monthly fee by maintaining a $25,000 account balance or $40,000 in combined balances. The best small…
Wells Fargo Analyzed Business Checking Review 2019
The Wells Fargo Analyzed Business Checking account is designed for businesses with large transaction volume, significant deposits, and complex money management needs. It’s ideal for firms that make more than 500 transactions per month. Negotiable account fees may be offset by an earnings credit based on the size of your daily account balance. The best…
Wells Fargo Simple Business Checking Review 2019
The account is best for very small businesses that have little cash revenue and need to make 50 or fewer monthly transactions. Owners can deposit up to $3,000 in cash each month for free. Plus, you can avoid the $10 monthly service fee by maintaining a $500 average balance. The best small business checking accounts…