Editor’s note: This is a recurring post with regularly updated account details. Business savings accounts are one of the best tools available to help you meet your savings goals while safeguarding funds. The best bank boils down to two types of accounts: online or traditional. In most cases, you’ll get the largest return on your…
Banking
What Is Commercial Banking?
Commercial banking is a banking term that refers to bank products and services specifically designed to meet the financial needs of corporations, institutions, and government clients, instead of individual clients. Commercial banking products and services include savings and checking accounts, merchant services, treasury services, commercial loans, global trade services, payroll services, and other corporate-related products….
What Is ChexSystems?
ChexSystems is a reporting agency that retains consumer banking information. However, you’ll only appear in ChexSystems if you have negative bank activity like bounced checks, overdrawn balances, and fraudulent or suspicious activity. If you’ve been reported by a banking institution or retail store to the agency, it can prevent you from opening a new bank…
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 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…