With so many options, which checking account is right for your business? Whether you are starting a new business or evaluating your relationship with your current bank, here are a few things to consider.
Does the bank offer these services for small businesses?
- Interest-bearing account
- A free checking account
- Free online bill pay services
- Free viewing and printing of cancelled checks and deposits
- ATM services without fees
- Free or low cost for checks, deposit tickets, and endorsement stamps
- Free Deposit Bags
- Special deals to switch merchant providers
Is this the bank where you have your business loan?
If you have a loan at a bank, the bank will often give you free checking for your business account. It is also convenient for account transfer purposes.
Does the bank have online banking capabilities?
Most banks have the capability to let you see your account activity online, to pay bills and transfer money. This is an important service if you have a bookkeeping service or off-site accountant.
Does the bank have payroll services?
If you anticipate only a few employees, you may be able to use the bank’s payroll services to pay your employees and to do direct deposit of paychecks.
Does the bank have credit/debit processing services?
This is the bank’s ability to serve as a gateway, allowing you to do credit and debit card processing services for customer payments.
You have choices. Why not look for the bank with the most services.