One of the most trusted websites for business guides reviews the best bank accounts for startup companies and entrepreneurs. They have carefully selected and chosen the best banks for all kinds of accounts and we have listed them below.
For The Best Banking Online
Truic has selected the best business bank account that is ideal for businesses online or for entrepreneurs. It is known to have added benefits that you won’t find at a Brick and Mortar location. One of the biggest advantages for businesses to use this bank account is because they do not charge any transaction fees and they’re limitless. Truic has also highlighted when reviewing them that this is especially beneficial for business owners who are just starting out, since all costs will be kept at a minimum. Other benefits include a small 1% interest on your balance, free of charge ATMs, no fees that will surprise you and all the exceptional customer support that you need.
Best Bank Account For Startup Businesses
One of the best banks for small businesses is Chase. Startup businesses can benefit greatly from this bank account, since it’s one of the largest yet useful banks in the U.S. Truic specifically likes this bank for startup businesses because the deposit requirement has no minimum costs, meaning that there’s plenty of flexibility for opening up a bank account. They are also known to offer excellent customer service online and in their physical branches, along with over 16,000 ATMs available to use across the country. They also help fight against identity theft online and offer low fee costs so that there isn’t any increase in service fees. They also offer $300 for qualifying activities.
Best Bank Account For Brick-And-Mortar Locations
One of the best business bank accounts to create and get incentives from is Wells Fargo. It is known to be the best for small business checking accounts and Truic highly praises it for the simplicity it has as a banking company.
It’s ideal for both startup businesses and entrepreneurs who need a local and physical bank account. It’s also great for small businesses who seek to open up a physical location, thus needing a bank account to protect their assets. They’re great as a bank to help protect against fraud, help monitor business banking activity and alert you if there’s any suspicions and you get a cool customized debit card with them, as well as a personalised experience.
Best Ecommerce Bank
One of the best banks for small businesses is Capital One. It is especially designed as a business structure for small ecommerce businesses, with the strategy of creating an autopilot business, so that transactions are still made, even if the business owner is not actively on the website. It’s built to create a simple yet effective connection between the business owners and clients, but also for clients to connect with each other. Other benefits include, limitless transactions, no minimum balance or monthly fees, a free debit card that can be used at free of charge ATMs which are located at over 700 brick-and-mortar locations and remote check deposits. There’s high interest rates too.
Why Is It Important To Open A Business Bank Account?
These bank accounts listed above bring great advantages for business owners, but there’s also another legal important reason why you should open one. It’s important especially for LLC companies and corporations to open a business bank account, so that shareholders and owners do not risk any chances of becoming personally liable and lose personal assets. By having a separate business bank account, you are eradicating any chances of your assets being personally affected, since they would be protected and untouched. It also helps track the cash flow and account savings for your business bank account, so that you can budget accordingly and monitor any suspicious activities within the company.