Small businesses are always looking for the best banks to transact business with. It is not easy to find the best banks for small business checking because most of the so called free checking accounts are not free.
There is a criterion that we can use to find the best banks for small business checking. In actual sense, below are these top banks and why we think they are in the list.
Bank of America
One of the best banks that we have around has got to be the Bank of America.
You need just $5,000 as the average balance for a free business checking. This is in fact much lower than what you would need with most of the major banks.
The bank has a low monthly fee for the free checking account balance. Although the amount varies from one State to the next, it still remains low.
Just like Bank of America (BOA), this bank has a low average free checking average balance, albeit higher than the former. You will need $7,500.
The monthly fee stands at $14.
This is one bank you can count on as a small business enterprise. The daily fees to maintain your bank account balance is almost non-existence. You would have to withdraw nearly all the amount to be charged maintenance fee. The monthly average is equally low, making this bank one of the most sought after banks in America.
When it comes to best banks for small business checking, Capital One easily fits in the list. The bank is quite friendly to small businesses and responsive to the needs of small businesses and SMEs.There are no unnecessary charges on your withdrawals, deposits and payments across the banks. The daily average checking account amount is equally low. Thus, one wills b able to easily manage a checking account with the bank.
When it comes to savings, business checking and lending facilities, you can never go wrong with Chase Bank. It easily makes it to the top 10 banks to watch out for as a small business.
Deposit money into this bank and watch it grow over time. It is one bank that is sensitive to the plight of the small business. The charges are fewer plus the fact that one does not need a very high minimum deposit to open a checking account.
You will enjoy the quality of banking benefits that are offered by this bank to small businesses. In actual sense, this is one of the best banks for small business checking. The charges are low just like the banks above. This is one bank you would be highly advised to consider if you are weighing options on opening a checking account.
You might not have heard about this bank but it is actually a very good bank for small businesses and SMEs. It charges very little for your checking account balance and is not expensive to maintain.