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Tuesday, August 9th
Relay is an automated online banking and money management platform that is partnered with Evolve Bank & Trust to fulfill the banking transactions of small businesses. Relay is dedicated to making banking easier for small businesses in a sector of the economy that typically benefits large corporate banks. It's a really well-structured and innovative bank with good customer reviews that we can heartily recommend.
Bluevine and its associated bank, Coastal Community Bank, offer bank accounts with no monthly fee or minimum balance and unlimited transactions. On top of that, they offer 1.5% interest on eligible accounts and multiple sub-accounts for organizing your cash flow. They have a great customer service reputation, are easy to sign up for and use, and allow you to have sub-accounts. Bluevine is definitely a business bank to consider.
The answer to this question depends on a lot of factors. How mature is your business in terms of growth and revenue? How do your customers pay you? How do you pay your vendors? Do you expect to earn interest on the money you hold in your checking account? Can you afford to pay fees on transactions?
Access to cashflow is a big part of running your business. Without cashflow, you can't operate. So being able to deposit or withdraw money quickly, with the least amount of hassle, will partly determine whether you're successful in your entrepreneurial endeavors. For example, if you can't make payroll happen in the timeframe your employees expect, they will complain or even quit. Or, if you can't pay your bills on time, you'll be assessed fees and fines that put a dent in your bottom line.
When looking for a business bank account, you will want as many convenience options as you can find. You want a bank that works for you and improves your financial success, not one that makes you feel like you are working for the bank and that they keep taking your money.
We've broken down this review of business banking into several key criteria to compare between options. Not every bank has every option available, but these are among the most common we've found:
TopConsumerReviews.com has reviewed and ranked the most popular providers of business bank accounts available today. We hope this information helps you choose a bank that will make it easy and affordable to manage your money!
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People’s United Bank customers will see these changes as their ...
People’s United Bank customers will see the first in a series of changes on Friday as M&T Bank launches the process of moving account holders from the Connecticut-based financial institution over to ...
Thu, 04 Aug 2022