Business money market accounts and certificates of deposit (CD) are deposit accounts that allow you to earn interest. A money market account combines the functionality of both savings and checking accounts, while a CD is a term deposit that offers a fixed interest rate upon maturity. The best account for your business depends on your…
Banking
6 Best Credit Unions for Small Business in 2021
Credit unions often provide the same types of financial products as banks. What’s nice about credit unions is that they prioritize customer satisfaction, making them a good alternative to traditional banks. The best credit unions for small businesses offer a secure place to deposit your money, opportunity to earn interest, affordable loan rates, easy access…
5 Best Online Business Checking Accounts for 2021
Editor’s note: This is a recurring post with regularly verified account details. Online business checking accounts are best for small businesses that don’t normally handle cash transactions. The best online business checking account options offer low-cost checking along with bank features like in-network ATMs, ATM fee reimbursements, and seamless app integration. Simply put, the best…
6 Best Business Checking Accounts for LLCs for 2021
Editor’s note: This is a recurring post with regularly verified account details. As a limited liability company (LLC) owner, you can open a checking account at most traditional and digital banks to help separate your business and personal finances. The best accounts have features that make LLC banking more convenient, including payroll services and accounting…
Money Market vs Savings Accounts: Where Should You Put Your Business Cash?
Aside from owning a business checking account, business owners will also benefit from opening another bank account to separate cash reserves from working funds. Both savings and money market accounts offer a safe place for your money while allowing you to earn interest. It’s important to understand the differences between money market accounts and savings…
6 Best Banks for Real Estate Investors for 2021
The best banks for real estate investors offer a wide variety of commercial and noncommercial investment property loan options, as well as business checking and savings accounts, that make managing real estate finances easier. In this article, we have listed the top real estate investor-friendly banks based on the products and services offered, fees, rates,…
Online Banking vs Traditional Banking for Your Small Business
One major difference between online banking and traditional banking is the way you can access their services. Online banks are designed for businesses that prefer to do their banking transactions electronically while traditional banks are best for businesses that need to transact in a physical branch. Online banks and traditional banks also differ in terms…
What to Know Before Opening a Joint Business Bank Account
A joint business bank account offers a convenient way for you and your business partners to consolidate and monitor your business finances. However, since you and your partners will have equal access to your business funds, you have to know the risks and rewards involved with opening a partnership bank account before deciding if this…
How to Change Business Bank Accounts & When to Switch
Every business needs to have a business bank account. It does not only ensure that you keep your personal and business finances separate, but it also helps with your important business transactions. As your business grows, your business bank account requirements also change. Business growth is one reason why you should consider changing your business…
What Is Business Banking?
Business banking refers to banking transactions that are specific to business clients. Business banking services include loans, credit cards, savings accounts, and checking accounts designed to meet the needs of businesses rather than individuals. The term business banking is also used interchangeably with commercial banking. Business banking is best for sole proprietorships, partnerships, limited liability…
4 Best Bank Accounts for Self-employed Professionals in 2021
The last thing you need as a self-employed professional is complicated banking. That’s why the best banks for self-employed individuals offer free or low-cost business accounts, easy-to-use mobile and online apps, and software integration that simplifies accounting. In this article, we’ve listed banks that provide the best business checking accounts for self-employed professionals who like…
How a Business Bank Account Will Benefit You Immediately
If you’re wondering if you need a business bank account and don’t know where to start, consider the benefits first. Business bank accounts help separate your business finances from your personal finances and help protect your company assets. These accounts also serve to simplify your taxes and allow you to build a banking relationship that…