Free Business Checking Account Comparison
Many banks offer free business checking accounts, but not all accounts are created equally. Choosing the best checking account for a business necessitates taking into account the benefits and requirements of each checking account and seeing if those fit the needs of the business. Here is a free business checking account comparison that provides information on some of the best free business checking accounts.
US Bank Free Small Business Checking
US Bank offers a free checking account to small businesses that has no minimum balance requirement and consists of no monthly maintenance fees. The account also offers its customers 150 transactions per month and only charges fifty cents for each transaction over this amount. The bank offers over 5000 ATM locations nationwide and provides its business customers with free online banking with bill pay. One additional perk is that this bank offers remote check deposit where users can scan copies of checks and upload these into the system for deposit.
Bank of America Business Economy Checking
Bank of America offers its business customers a free checking account called Business Economy Checking. This checking account has no maintenance fee if the business owner meets the minimum balance requirement. Otherwise, the monthly maintenance is $14 per month. This minimum balance amount varies from state to state. The account also provides business owners discounted employee checking accounts and free online statements with an 18-month history. Fees are assessed if the account goes over 150 transactions or more than $10,000 cash is deposited each month.
PNC Free Business Checking
PNC offers a free business checking account and business owners can open the account with a minimum of $100. The account allows 200 transactions per month and has no minimum balance requirement. The account also does not charge a maintenance fee and allows its business customers to make up to $5000 in cash deposits monthly without paying a fee. Standard online banking and bill pay are offered to PNC business checking customers as well. Business owners can also apply for overdraft protection for the account, if needed. Overall PNC offers an excellent account to business owners.
Wells Fargo Business Checking
Wells Fargo Bank, previously known as Wachovia Bank, also offers its small business customers the Wells Fargo Business Checking. This account allows 150 transactions and up to $5000 of cash deposits on a monthly basis. The account has no maintenance fee if the business owner maintains a $3000 minimum daily balance, a $6000 ledger balance, or if the business has a payroll transaction from the account each month. Otherwise, the business owner would be required to pay a $12 maintenance fee. Online banking providing online statements and check images is also offered as well.
Choosing a great free business checking account does not have to be a difficult process. Simply by comparing benefits, fees, and minimums, any successful business owner can select the right option for their business. Each of these banks offers valuable services that can allow a small or new business to grow while still maintain a partnership with a financial institution.