An Overview: Business Checking Account
A business checking account allows you to keep your personal and business funds separate. The following are the top six business checking accounts.
If you own or are considering starting a small business, I can assure you that you require a small business checking account. If you don't then you might end up jeopardizing yourself. As well as your company.
First and foremost, you must keep your business money distinct from your finances; if they aren't, it might put you in danger in various ways. Including liability for company debts and litigation. As well as problems when it comes time to file your taxes.
Opening a business checking account online can be faster and easier than visiting a local office and filling out an application. Plus, you can do it on your own time.
Here we'll go through some of the finest sites to create a business checking account online. So that you can choose the ideal answer for your company.
Best Options To Open A Business Checking Account Online
NorthOne Business Checking Account
The NorthOne Corporate Checking Account combines business checking with a simple online mobile app. NorthOne will be an excellent alternative with some pleasant bonuses if you don't want to deal with banking hours.
NorthOne allows you to make deposits and move funds for free. As well as make payments by making ACH or wire transfers from your phone or computer.
The NorthOne Business Checking Account will meet your limitless transaction and banking demands. But only if you don't mind paying $10 per month, with no opportunity to waive the cost.
Novo provides a fee-free business checking account designed to save company owners time and money.
Novo offers smooth connections with business tools like Shopify, Square, QuickBooks, eBay, Stripe, Zapier and the list goes on. As well as undeniably useful bonuses for company owners.
You will be given free access to limitless electronic deposits. And 100 transactions each month. This is a significant lure for firms that end up paying a lot of money to get these types of benefits.
You'll also have easy access to 16,000 ATMs in over 4,700 locations. So, whether you choose to bank online or through a more conventional brick-and-mortar bank, you'll be covered.
Lili is an excellent alternative for freelancers because it is developed exclusively for the demands of single enterprises.
There are no hidden costs and an excellent bonus APY of 1% is available if you have an Automatic Savings Account.
If you sign up for a Lili Pro account, you'll also have access to premium services. As well as a business debit card with cashback at over 14,000 retailers.
Lili provides an online checking account with a Visa business debit card and access to over 38,000 ATMs. There are no fees for these services. And there are no minimum balance or initial deposit requirements.
LendingClub Business Checking
It's designed exclusively for small company owners and side hustlers. Allowing you to generate money with limitless transactions and without penalties. Making up to 0.10 percent APY.
You'll enjoy fee-free checking and limitless 1% cashback on debit card transactions just like with LendingClub's accounts. You'll also get interested in any additional checking and savings accounts you create with them.
As a business owner you will have access to several useful benefits. Employees can be added to your bank account allowing them to make deposits. And use their debit cards to allow company transactions.
BlueVine is a small-enterprise-focused online business bank. They waive most standard business checking fees. Allowing you to retain more of your money in your firm.
BlueVine offers an online business checking account with no monthly fees. As well as no inbound wire fees, NSF fees or ATM costs. In addition they will offer you 0.6 percent APY on accounts up to $100,000.
You can deposit checks with a photo using the BlueVine app. And you can make payments to vendors via ACH transfers, wire transfers or checks.
Even though BlueVine has only been in business since 2013 they have a proven track record of assisting small businesses to succeed.
Chase Business Complete Banking
Chase Company Complete BankingSM provides a wonderful set of advantages to business owners. But if you do not maintain a $2,000 minimum daily amount you may be charged a $15 monthly fee.
To begin you will be provided with unlimited electronic deposits and 100 transactions each month at no cost. This is a significant lure for firms that wind up paying a lot of money to get these types of benefits.
You'll also have easy access to 16,000 ATMs and over 4,700 locations. So whether you choose to bank online or through a more conventional brick-and-mortar bank you'll be covered.
What You Need To Open A Business Checking Account Online
You may create a business checking account online by completing essential business and personal information. As well as by uploading important documents.
While the specifics will vary from bank to bank here's what you'll need to create a business bank account:
- Personal data and identity (driver’s license, social security number)
- Business formation documents, such as articles of incorporation, a partnership agreement, articles of organization etc. (depending on your firm type) (based on your entity type)
- DBA authorization (if your business is using a DBA)
- Basic business knowledge (EIN, address)
It may just take a few minutes to apply for an online business bank account. But it will take several business days for your application to be examined and authorized.
The Final Word
There are several advantages to opening a business checking account online. Because many internet banks provide free business checking accounts. It's simple, fast and frequently less priced.
Do you require assistance with the application process? Use our online help to create a business bank account.