Online free business checking is a great way to cut your business expenses. Running a profitable business means always looking at your bank charges. Why should you pay for the privilege to bank your money when you can open a free business checking account with free online checking and save those monthly fees?
Free business checking accounts can be easily opened online. When looking at a bank's website, check out the perks and terms of their free business checking services. When you compare free business checking online, look for:
- Free internet checking with ample transaction allowances.
- An account with no balance requirement or monthly fees.
- Extra freebies, including bank cards with rewards.
Action Steps
The best contacts and resources to help you get it done
Find a business checking account and compare offers
Are you aware of everything your home bank has to offer? Sit down with the small business expert at your bank to see if you may be missing out on a new product, then compare your bank's offering to other free online business checking accounts. Loyalty may be a luxury you can't afford if it's bleeding your bottom line.
I recommend: Check out how your bank stacks up to other banks at
Bankrate.com. Give your current bank a chance to keep your business and show them the comparisons you've made. You may walk out richer for your effort.
Get the free business checking account your business deserves
Look for a bank that won't penalize you for running your business. You know how it goes: sometimes you're flush with cash, while other times you're scraping together every last dollar just to make payroll. The last thing you want to worry about is paying a service charge for a low balance. Banks are offering free small business checking accounts and free business checking online designed for companies on a shoestring budget.
I recommend: - Evaluate how many transactions you make on a monthly basis at your current bank, and then compare that to KeyBank, which offers a free business checking account with 200 free transactions per month and a KeyBank Debit Card. There's no minimum balance requirement or monthly fees.
- Check out Wachovia, which offers business owners 150 free transactions a month and no minimum balance or monthly charges.
Consider online bill pay with your online free business checking account
Start thinking about paying your bills by mouse-click. Online free business checking accounts allow you to pay bills, transfer money between accounts and track your finances right from your computer. And think of the postage savings every month!
I recommend: Bank of America is one of many banks encouraging customers to try online free business checking. The service is free to Bank of America customers.
Chase also offers online bill payment, as well as free business checking for 100 or fewer transactions per month.
Tips & Tactics
Helpful advice for making the most of this Guide
- Free business checking accounts will help you save, but don't discount the importance of overdraft protection, a business line of credit or a linked savings account to protect you from bookkeeping shortfalls.
- If you're carrying a high average daily balance, find a business checking account that is interest-bearing and that rewards you with lots of perks. You may actually end up with "free" business checking because the bank may waive the monthly fees to thank you for your high balance.
- Some free business checking accounts charge for each transaction over your limit. Read the fine print and watch out for hidden fees if you exceed your free transaction allowance.
The official source of Evaluating Free Business Checking Offers is
the Free Business Checking page at Business.com
Related Resources from Business.com
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