When starting a new business you may want to consider having a list of the 5 best business banking accounts. Sometimes having more than one business bank account may be what you need to help your business flourish.
- Bank of America Bank of America is one of the five best business banking because they offer two different business bank accounts. One is called the "Business Advantage Checking Account" while there is the basic "Business Checking Account." The first account is only for people that have small or medium-sized businesses while the second account may be best for solo or basic companies. For the Advantage account, however, you need at least deposit $10,000 a month or more in order to avoid extra fees.
- Chase Sometimes Chase has great deals where you can receive $100 when you open an account. You need to deposit at least $500 in order to receive this perk. If you are currently one of their customers, you may consider opening a business bank account. Chase also has three different packages to consider, but you need a minimum deposit of at least $25.
- Key Bank They may not be one of the most memorable banks compared to Bank of America and Chase, but Key Bank offers one of the best business banking accounts when starting a business. They have three checking accounts you can sign up for. The first account is the standard free checking account in which you do not need to have a minimum balance each month. The next account is the business checking account which helps you offset some fees with your business. Then there is the "Money Market Checking Account" which is perfect for sole proprietors and non-profit organizations.
- U.S. Bank U.S. Bank is worth noting as one of the five best business banking accounts. There are three different checking accounts for business owners to consider. The first one is the silver business package. The second deal is the platinum business package and includes up to $500 for savings. The third deal to consider is the gold business package. Just like the other two packages, you get $800 of savings.
- Wells Fargo Wells Fargo is one of the most well-known banks in the country. They have three different checking accounts for businesses as well. The first account is the simple business checking. You need at least $100 to open an account. The next one is business checking. Like the first account you need $100 to open an account, but this account is more for people that have a business that needs a moderate amount of transactions. The third account is business checking with interest. You also need $100 to open this account, but this is ideal for people who are sole proprietors or non-profit organizations.