Introduction
Small businesses have unique banking needs that differ from those of large corporations. One of the most important decisions a small business owner can make is choosing the right business checking account. With so many options available, it can be challenging to determine which account is the best fit. In this article, we’ll take a closer look at the top five business checking accounts for small businesses.
Chase Total Business Checking
Chase Total Business Checking is an excellent option for small businesses that require a low minimum balance and no monthly fees. This account offers 100 free transactions per month, free online banking, and mobile banking with remote deposit. Additionally, Chase’s extensive network of ATMs and branches makes banking easy, convenient, and reliable.
Wells Fargo Simple Business Checking
Wells Fargo Simple Business Checking is another top pick for small businesses. This account offers a low minimum opening deposit of $25 and no monthly service fees with a minimum daily balance of $500. Additionally, the account includes 50 free transactions each month and online banking services. Wells Fargo’s extensive ATM network also makes access to cash convenient for business owners.
Bank of America Business Advantage Checking
Bank of America Business Advantage Checking is an excellent choice for small businesses that need a little more than the basics for their banking needs. This account requires a minimum daily balance of $2,500 to waive the monthly fee. However, it offers 200 free transactions per month, unlimited electronic transactions, and cash deposits at no additional charge. Plus, Bank of America provides their customers with access to over 16,000 ATMs across the country.
Capital One Spark Business Basic Checking
Capital One Spark Business Basic Checking is an incredibly affordable option for small businesses. This account has no monthly maintenance fees and allows for 200 free transactions per month. Additionally, small businesses can deposit cash for free at Capital One ATMs or any other ATM that is part of the Allpoint network. Capital One Spark Business Basic Checking also offers easy online banking and mobile app access.
Azlo Business Checking
Azlo Business Checking is a digital-only account designed for small businesses that prefer to bank entirely online. This account has no minimum balance requirements, monthly fees, or transaction fees. It offers free online banking, mobile app access, electronic invoicing, and payments. Additionally, Azlo offers real-time customer support, making it an excellent resource for small businesses with questions or concerns.
Conclusion
Choosing the right business checking account is essential for the success of any small business. Each of the accounts we’ve highlighted has unique benefits that make them a great fit for different types of businesses. By choosing the right checking account, small business owners can save money and streamline their banking operations. Compare accounts and consult with your financial advisor to find the best option for your business.
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