Small Business Checking Account
If you own a business and you don’t keep your business finances separate from your personal finances you’re going to have to start doing it. The best way to get started on that is to open up a small business checking account.
Free business checking accounts aren’t as common as free personal checking accounts, but they still do exist. If you don’t need all the bells and whistles that come with a big business account you can get a free one from many of the major banks. Having a business checking account can also help establish a credit history for your business.
If you’re having trouble finding a free business checking account at a bank then you should check out some of your local credit unions. A lot of credit unions require you be part of an organization but there are some that are open to just about anyone.
Be sure to pay attention to how much checks cost for your business checking account. A lot of banks will have surprisingly high costs to order checks for a business checking account.
After you setup your business checking account you may want to consider opening a business high interest savings account for excess funds that you don’t need to use any time soon. After you establish your business account with your bank you can then move on to the next step and get a business credit card from them. A business credit card will make your business transactions easier and allow you to pay for all your expenses once a month. Some also come with rewards.
Having business bank accounts can also help if your business ever needs to take out a loan. Having an established relationship with a bank will make it much more likely that you get approved for a business loan. If you don’t already have a business checking account you should strongly consider opening one.