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Saturday, November 2nd
Over 500,000 business owners have turned to Bluevine for banking since 2013. You'll earn interest on your money, even with the lowest-tier, fee-free checking account offered here. Bluevine lets you create up to 5 different sub-accounts for seamless cash flow management, and you'll have no problem integrating platforms like Gusto and QuickBooks or giving account access to multiple users if needed. This business banking fintech earned a perfect score from the BBB and 5-star reviews from over 6,500 clients. We've experienced a few customer support snags while using Bluevine, keeping it from earning our highest ranking, but it's still a service we recommend for your small business banking.
North One offers business checking with both a no-monthly-fee and an upgraded $20/month tier. This fintech, backed by The Bancorp Bank, has a ton of integrations to make your business banking work smoothly with other platforms you may use, like Stripe or ADP. You can also create an unlimited number of "envelopes” to help manage your money, especially following the "Profit First” model. Unfortunately, North One has some downsides, like only being able to reach support during weekday business hours - and then only via email or chat until/unless a rep reaches out over the phone. It's not quite as fully-featured as some of its online-only rivals, earning Bank One a mid-tier spot on our list.
Running a business means keeping your finances in order, and the right bank can help you do just that. But with so many options available, it can be tough to know where to start. When you're ready to open a business bank account, you'll want to consider a few key factors to make sure you're choosing the right one for your needs.
First, think about your business' cash flow. You need easy access to your money so you can cover expenses, pay employees, and handle daily operations without a hitch. A bank with fast and hassle-free deposits and withdrawals is essential. If you ever find yourself struggling to pay vendors or make payroll because of banking delays, it could harm your business in the long run. Picking a bank that works smoothly with your financial schedule is crucial.
Next, be mindful of the fees associated with business accounts. Banks often charge for everything from ATM use to wire transfers, and these fees can add up quickly. Some banks may also charge monthly maintenance fees or penalties if your account balance dips below a certain threshold. Before opening an account, take a close look at these costs and decide if they're worth it for your business. The goal is to avoid paying for services you don't need, while making sure the services you do need are affordable.
Another important factor is how the bank integrates with your business' accounting systems. Does the bank support connections with your accounting software or allow your accountant to access the account? This can save time and simplify your financial management. Some banks also let you set up permissions for other team members, so they can help manage payments or reconcile transactions. These tools can make day-to-day operations much easier and more efficient.
Got all that? Good. Now you're ready to take a look at some of today's most popular options for business banking, not just big-name financial institutions with both brick-and-mortar and digital services, but also online-only fintech platforms that often have the bells-and-whistles missing from "brand-name” financial institutions. Here's a helpful checklist to help you to compare and decide:
The experts at Top Consumer Reviews have researched and ranked many of the most popular options for business banking today. This information can help you keep some of the most important factors in mind, so that you can choose an institution that helps you manage your finances effectively and supports your company's success.
Select any 2 Business Bank Accounts to compare them head to head