When it comes to starting a business, one can experience a lot of hard time due to unexpected expenses that arise along the way. This can be controlled or totally avoided when you have a free businesschecking account since you will not have to worry about any monthly bank fees. It is important to note that free business accounts do not earn any interest and therefore there might be some charges that may be attracted the moment you exceed the transaction limit. In the same breath however most of the best accounts do not have a minimum balance required or any monthly fee charged.
The following are a collection of some of the best free business checking account that you can choose from.
U.S Bank Silver Business
The U.S bank silver business checking package does not have any monthly charges and on top of that you can make up to 150 transactions in a month without a single dollar charge. The kind of transactions includesdeposits, debit card purchases and any online payments. You have an opportunity of using the online banking to make any transaction with your checking account or another alternative could be stopping by in any of over 3000 branches that are in 25 states.
Thinking of cash deposits? This as well is taken care of because the U.S bank has an allowance of up to 25 free units in a month. Afterreaching the maximum 25 units offered, a small charge is attracted for any additional cash deposits.
Capital One Spark Business
Capital one’s online spark business accounts is another free business checking account which has no monthly fees and no minimum deposit requirements. In addition to that, theaccounts also offerunlimited checking transactionsthroughout the month which include deposits, withdrawals and transfers. This is a great advantage becausecompared to other accounts; there are limits of the free transactions which are about 100-150 in a month.
It is crucial to note that the Spark Business checking may not be one of your options if your kind of business demands face to face service since they do not offer that kind of service.
Bank of internet federal bank basic business
This is generally an online bank which is best suited for business owners who in one way or another consider banking the electronic way. The basic business checking account has an allowance of up to 200 free transactions a month. After all the free transactions are exhausted, 30 cents of each transaction involved is charged.
Further to that, deposits can be made by just mailing a check to bank of internet headquarters or by either wiring money to your account from a different institution. While doing this however you need to be aware that some of the institutions charge an outgoing wire fee.
Wells Fargo business choice
Generally, wells Fargo‘s business choice checking account charges an about $14 per month. The fee can however be waived if you make at least 10 debit purchase cards a month.