Your finances are in good company.
You know as well as anyone else, time is money. That’s why your account balance shouldn’t sit there, month after month, without earning interest. That’s where our Business Interest Checking account comes in handy — offering business owners access to online banking, mobile deposits, and growth over time with interest.
- Earn Competitive Rates
- Visa® Debit Card
- Unlimited Monthly Transactions
The primary purpose of a business checking account, for businesses of any size, is to keep the owner’s finances separate from the company’s. It may be your name on the business card, but business owners can face steep penalties for mixing their personal finances with the company’s. In fact, if you operate your business under a separate legal entity, you may be required to separate your company’s finances from your own.
Beyond the penalties, a business checking account can also help the organization. Instead of using your personal checking or debit account for business expenses, and having to submit receipts for reimbursement, a business checking account comes with its own debit card (and separate business debit cards for authorized users) for everyday business expenses.
There are three key reasons to open a business checking account:
- Taxes: By opening a business checking account now, you can save yourself headaches at tax time. Sorting through receipts to verify expenses is no one’s idea of a “good time” and could increase the likelihood of an IRS audit.
- Performance: Want a good idea of how your business is doing? Open a business checking account to review consistent income and expenses without having to make note of which deposits and withdrawals were for personal reasons.
- Relationships: Did you know business credit scores are a thing? Many first-time business owners don’t, but they play a vital role in qualifying for business loans and credit cards, which require a business-specific credit report for approval.
Your business interest checking account comes with these perks and benefits:
- No minimum deposit to open
- Competitive rates on account balances of $1,000 or more
- Free Visa® business debit card
- Free unlimited monthly transactions
- No monthly maintenance fee if you maintain a $1,000 minimum average daily balance (otherwise its $10/month)
- Cash management services available to help your customers pay with credit and debit cards
- Free online/mobile banking
- Free eStatements
We also offer a non-interest-bearing checking account with no limits or minimums.
In addition, if you already have a business checking account somewhere else, ClickSWITCH can seamlessly transfer your account information, payment details, and transaction histories from that institution to ABNB with ease. Can your bank do that?