A key building block for your success.
Businesses have checking accounts (and we do offer business checking accounts), but every business needs a savings account too. An ABNB Business Savings account is a key foundational piece to assure success because the savings really add up.
The Benefits of ABNB Business Savings
- A competitive way to save for future purchases while earning interest
- Instant access to your business’s cash
- Free online/mobile banking, mobile deposit and eStatements
- $5 minimum to open
- $200 minimum to earn interest
Business savings accounts are smart for many reasons:
Unexpected events happen. The work van gets a flat tire, the forklift backs into a wall, a water line bursts…every situation that can happen, does happen. In some cases, insurance can pay for those issues. In others, business owners frequently turn to options that increase their debt like credit cards or loans.
A savings account is a liquid asset that business owners can turn to instead of relying on credit. With a business savings account, you can move cash from one account to another to quickly cover emergency expenses or even office upgrades.
In addition to earning interest on your business savings, you’ll also benefit with protection from the National Credit Union Administration (NCUA) — an independent United States government agency that insures deposits up to $250,000 per account.
Let’s face it, businesses pay taxes. If you forget to set aside money every quarter to pay those tax bills, they can come back to bite you later. Your business savings account can help you save in advance to avoid a surprising bill come tax time.
Protect your business’s assets and open a business savings account with a competitive interest rate today.