The Best

Small Business

Checking
Account
In order to choose the

best checking account
there are a lot of factors
to consider

Most businesses will want to
focus f...
The things that will affect this are:
•Your average monthly balance.

Generally the
higher this number the more features y...
The things that will affect this are:
•The amount of cash transactions.

If you are
doing more than $5000 in cash transact...
Overall,

most banks offer small business checking
accounts that follow similar formats.
Usually, checking accounts will
h...
In order to

explore options,

we have broken down the offerings
from Bank of America, Wells Fargo,
Citibank, and a small ...
Best Account

for Less than $5,000 average
monthly balance:
If your business is
just starting out
we recommend checking your local and
regional credit unions to see what they
have to...
Wells Fargo Simple
Business Checking

Credit Union (Rockland
Trust Free Business
Checking)

Monthly Fee

$10 (if below $10...
Wells Fargo Simple
Business Checking

Quicken/
Quickbooks
Integration

• WebConnect - Free
• DirectConnect online
banking ...
Wells Fargo Simple
Business Checking

Credit Union (Rockland
Trust Free Business
Checking)

Free Debit Card

Yes

Yes

Int...
Best Account

for $5,000 + average monthly
balance:
All the
major banks

offer accounts with waived monthly fees
at this level, and fairly competitive
features. Your local cr...
CitiBusiness
Streamlined
Checking
Account

Bank of
America
Business
Fundamentals

Wells Fargo
Business
Checking

Credit Un...
CitiBusiness
Streamlined
Checking
Account

Bank of
America
Business
Fundamentals

Wells Fargo
Business
Checking

•

•
•
Qu...
CitiBusiness
Streamlined
Checking
Account

Bank of
America
Business
Fundamentals

Wells Fargo
Business
Checking

Credit Un...
Best Account

for $10,000 + average monthly
balance:
If your business can maintain
an average monthly balance
above $10,000, you can get a

free checking account

with a highe...
CitiBusine
ss Flexible
Checking
Account

CitiBusine
ss Interest
Checking
Account

Bank of
America
Business
Advantage

Well...
Quicken/Quickbooks Integration
CitiBusiness
Flexible Checking
Account

WebConnect – Free

CitiBusiness
Interest Checking
A...
CitiBusine
ss Flexible
Checking
Account

CitiBusine
ss Interest
Checking
Account

Bank of
America
Business
Advantage

Well...
Conclusion

Choosing the business checking
account that is best for you will
depend on the

unique requirements
of your sm...
smaller side
Businesses

Should seriously consider the
options offer by local banks.

They often offer a more robust set o...
Large Small
Businesses
May be able to get a robust set of
features, plus potentially earn
interest on your deposits.
Join The Community:

www.FitSmallBusiness.com
Click here to tweet
this presentation.
Upcoming SlideShare
Loading in...5
×

Best Small Business Checking Account – Our Top Picks

19,710

Published on

In order to choose the best small business checking account there are a lot of factors to consider. In today's presentation we are going to focus on fees, features, and transaction costs. So lets get started!

Published in: Education
1 Comment
0 Likes
Statistics
Notes
  • http://noorjahankhan.com/
    786 *
    Queen Noor Khan can solve Husband wife
    love problem solution, family problem
    ,Black magic specialist , magic spell
    ,Vashikran expert, lottery, career
    ,business and Within 72 hours and with 101%
    guaranteed to get all solutions in your life.
    Begum astrology systematic call to get advice
    from him.
    IF There is a problem Contact - Queen Noor Khan
    contact no. :- +91 9929704706
    email id :- begumnoorjahankhan786@yahoo.com
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
  • Be the first to like this

No Downloads
Views
Total Views
19,710
On Slideshare
0
From Embeds
0
Number of Embeds
135
Actions
Shares
0
Downloads
33
Comments
1
Likes
0
Embeds 0
No embeds

No notes for slide

Best Small Business Checking Account – Our Top Picks

  1. 1. The Best Small Business Checking Account
  2. 2. In order to choose the best checking account there are a lot of factors to consider Most businesses will want to focus fees, features, and transaction costs.
  3. 3. The things that will affect this are: •Your average monthly balance. Generally the higher this number the more features your account will have and the lower the monthly account fees will be. •The number of electronic transactions. If you are doing more than 150 electronic transactions per month, you might want to consider an account with higher monthly fees, but lower transaction costs.
  4. 4. The things that will affect this are: •The amount of cash transactions. If you are doing more than $5000 in cash transactions per month, you may also want to opt for an account with higher monthly fees but lower transaction costs. •Quickbooks Integration - While most banks allow you to download transactions, of the banks we reviewed only Bank of America has quickbooks full integration.
  5. 5. Overall, most banks offer small business checking accounts that follow similar formats. Usually, checking accounts will have a monthly fee that will is waived if you maintain a large enough balance.
  6. 6. In order to explore options, we have broken down the offerings from Bank of America, Wells Fargo, Citibank, and a small local bank to represent what you might expect from a local bank near you.
  7. 7. Best Account for Less than $5,000 average monthly balance:
  8. 8. If your business is just starting out we recommend checking your local and regional credit unions to see what they have to offer. Neither Bank of America nor Citi offer free business checking accounts if your average monthly balance is below $5,000.
  9. 9. Wells Fargo Simple Business Checking Credit Union (Rockland Trust Free Business Checking) Monthly Fee $10 (if below $1000) $0 Account Minimum for Waived Monthly Fee $1000 and enroll in online statements N/A Free Monthly Cash Deposits $3000 
 $0.30/per $100 after Unlimited Monthly Free Transactions 50 
 $0.50/per after 50 $300
 $0.50/per after 300
  10. 10. Wells Fargo Simple Business Checking Quicken/ Quickbooks Integration • WebConnect - Free • DirectConnect online banking with Quickbooks - $14.95/ month. • DirectConnect online banking and Bill Pau with Quickbooks $24.95/Month Credit Union (Rockland Trust Free Business Checking) No
  11. 11. Wells Fargo Simple Business Checking Credit Union (Rockland Trust Free Business Checking) Free Debit Card Yes Yes Interest Paid No No Free Online Banking Yes Yes Mobile Access/ Mobile Check Deposits Yes No Direct Line Customer Service 24/7 phone support Yes
  12. 12. Best Account for $5,000 + average monthly balance:
  13. 13. All the major banks offer accounts with waived monthly fees at this level, and fairly competitive features. Your local credit union may still be the best option, but you might want to consider going with a major bank because they offer a larger selection of ATMs.
  14. 14. CitiBusiness Streamlined Checking Account Bank of America Business Fundamentals Wells Fargo Business Checking Credit Union (Rockland Trust Free Business Checking Monthly Fee $15 Varies by state ($14+) Account Minimum for Waived Monthly Fee $5,000 $5,000 $600 N/A $5,000 10,000 $10,000 $0.20-0.30/per $100 $5000 
 $0.30/per $100 after Unlimited 250 200
 $0.45/per after 200 150
 $0.50/per after 150 300 Free Monthly Cash Deposits Monthly Free Transactions $12 $0
  15. 15. CitiBusiness Streamlined Checking Account Bank of America Business Fundamentals Wells Fargo Business Checking • • • Quickbooks Integration No WebConnect – Free DirectConne ct online banking with Quickbooks and BillPay – $15/month • • Credit Union (Rockland Trust Free Business Checking WebConnect – Free DirectConnect online banking with QuickBooks – WebConnect $14.95/month. – Free DirectConnect online banking and Bill Pay with QuickBooks – $24.95/month.
  16. 16. CitiBusiness Streamlined Checking Account Bank of America Business Fundamentals Wells Fargo Business Checking Credit Union (Rockland Trust Free Business Checking Free Debit/ Credit Card Yes Yes Yes Yes Interest Paid No No No No Free Online Banking Yes Yes Yes Yes Quickbooks Integration No $5,000 No No Mobile Access/ Mobile Check Deposits Yes Yes Yes No Direct Line Customer Service Call Center Call Center Call Center Yes
  17. 17. Best Account for $10,000 + average monthly balance:
  18. 18. If your business can maintain an average monthly balance above $10,000, you can get a free checking account with a higher number of free monthly transactions, and higher free cash deposits. At this level, Bank of America also waives the $15/month fee for Quickbooks integrations, which is worth considering.
  19. 19. CitiBusine ss Flexible Checking Account CitiBusine ss Interest Checking Account Bank of America Business Advantage Wells Fargo Business Checking Credit Union (Rockland Trust Free Business Checking) Monthly Fee $25 (may vary by state) $15 (may vary by state) $29.95 $16 $25 Account Minimum for Waived Monthly Fee $10,000 $10,000 $15,000 $10,000 $10,000 $5,000 $10,000
 $0.30/per
 $100 after $5,000
 $0.30/per
 $100 after Unlimited 20 500
 $0.45/per
 after 500 150
 $0.50/per
 after 150 500
 $0.50/per
 after 500 Free Monthly Cash Deposits Monthly Free Transactions $20,000 500
  20. 20. Quicken/Quickbooks Integration CitiBusiness Flexible Checking Account WebConnect – Free CitiBusiness Interest Checking Account WebConnect – Free CitiBusiness Interest Checking Account WebConnect and DirectConnect online banking with Quickbooks and BillPay – Free • • Wells Fargo Business Checking Credit Union (Rockland Trust Free Business Checking) • WebConnect – Free DirectConnect online banking with QuickBooks – $14.95 per month. DirectConnect online banking and Bill Pay with QuickBooks – $24.95 per month. WebConnect – Free
  21. 21. CitiBusine ss Flexible Checking Account CitiBusine ss Interest Checking Account Bank of America Business Advantage Wells Fargo Business Checking Credit Union (Rockland Trust Free Business Checking) Free Debit/ Credit Card Yes Yes Yes Yes Yes Interest Paid No Yes No Yes No Free Online Banking Yes Yes Yes Yes Yes Mobile Access/ Mobile Check Deposits Yes Yes Yes Yes No Direct Line Customer Service Call Center Call Center Call Center Call Center Yes
  22. 22. Conclusion Choosing the business checking account that is best for you will depend on the unique requirements of your small business.
  23. 23. smaller side Businesses Should seriously consider the options offer by local banks. They often offer a more robust set of features at a lower price point, as well as superior customer service.
  24. 24. Large Small Businesses May be able to get a robust set of features, plus potentially earn interest on your deposits.
  25. 25. Join The Community: www.FitSmallBusiness.com Click here to tweet this presentation.
  1. A particular slide catching your eye?

    Clipping is a handy way to collect important slides you want to go back to later.

×