The Best Business Checking Account for Your Small Business in 2022
Did you know that 27% of small business owners use their personal accounts for their business?
While this may be convenient at first, business checking accounts can help you manage your finances better and even help build a good financial record for your company.
This is essential if you ever want to get a land mortgage or even a used car loan for your business. Different accounts come with different features than can even help you streamline how you handle your company’s finances.
If you’re looking for the best business checking account for your business, you’re in the right place. Here are some of the different kinds of business accounts you can open for your small business today.
Small Business Checking Accounts
While most small businesses just use their personal accounts, it can be beneficial to get a dedicated check account for your business. This can help you divide your personal and business expenses and make drawing up financial statements a lot easier.
Small business checking accounts are perfect for startups and local businesses as they are incredibly cheap and offer a wide range of services. These accounts will let you set debit orders and deposit cash directly into the account.
While banks may differ on their rules, the small business bank account from Farmers Bank boasts no minimum balance and no monthly service fee. When you open a small business check account, you can also recieve a debit card that you can use for unlimited check card transactions.
This makes it the perfect bank account for your small business.
Business Interest Checking Accounts
Similar to the small business account, business interest accounts will let you make your cash work for you. This is because business interest check accounts can pay you interest every month on your balance. This makes it perfect if you happen to maintain a high balance account..
While different banks and bank accounts may offer different interest rates and charge different fees, the business interest account from Farmers bank will pay you a competitive interest rate. On top of this, you can receive a check card for unlimited check card transactions.
Some bank accounts may require you to keep a balance of over $10,000 just to earn interest. However, Farmers Bank has a required minimum balance of just $2,000.
Business Analyzed Checking Accounts
If you are looking for a bank account for your business that compensates you for your account balance consider the business analyzed checking account. This type of business bank account is meant for high-volume transaction accounts who maintain higher balances.
Get the best Business Checking Account for Your Small Business
As you can see, there are quite a few different options when it comes to a checking account for your small business. Different types of accounts may be better for different kinds of businesses. That’s why it’s important to take your time to find the best business checking account for your business.
If you want a simple and easy business check account for your business, look no further than Farmers Bank. As a trusted bank that has been servicing businesses since 1917, Farmers Bank offers a wide range of business checking and credit accounts.
All business accounts are also eligible for additional business services such as:
- Merchant processing of bank card transactions
- Remote Deposit (Your can make your deposits from your place of business)
- ACH Origination (For an automated payroll or monthly billings)
- Bill Pay (Pay your bills with the touch of a button from the comfort of your office)