Free Business Checking

Many banks understand the expense of starting and funding a business operation. Paying for a business checking account should not be one of them. A business checking account is also essential to managing your money, write-offs, and separating personal expenses from business dealings. Some banks offer free business checking with high-monthly volumes, check writing, and deposit activity. Others offer free business checking for the sole proprietor, start-up or businesses with low volume. I will list the banks that offer free business checking and the benefits of having a checking account for your company.  

Banks that offer free business checking

Banks that offer free business checking, separate themselves from the competition in a variety of ways. Some offer low minimum deposit to open a business checking, or free transaction items. Check Cards, reward points, online banking, and merchant services are other features banks use to get you to open an account with them. Here is a list of the banks (in no particular order) that offer free business checking:

Banks with Free Business Checking

Bank of America

Chase Business

Fleet Bank

Washington Mutual

Key Bank

Wells Fargo

ING Direct

PNC

Capital One

U.S. Bank

These are just some of the banks that are easily accessible online and in person. There are other banks that offer free business checking with alternative perks. Important benefits to me are online account management, payroll with direct deposit, a low minimum balance and security protection. If you have these 4 things plus a free account than you have found a great free business checking account.

Benefits of free business checking

I shouldn’t have to mention that it is free, we have clarified that. Or the fact that it is better than paying for one, also true. A free business checking is better for a small business because it can provide everything one a business pays for does. The things I mentioned earlier like conduct transactions, free direct deposit for employees, check cards, online management, security etc… is free with the banks listed above. You don’t have to pay for it. Why open an account that charges a monthly fee, and then demands you keep a certain amount of money in that account? Free business checking is the way to go. Many banks offer a business line of credit as well to help fund a start-up.

How you can get a free business checking account

All banks will require a DBA or proof of ownership of your business. Also a sweep of your credit history may be needed to open a business checking account. You will need to fill out application forms, and mark the services wanted for your business. For example, if you are a retailer you may want to check off POP (Point of Purchase) so that the transaction will hit your new free checking account. Make sure you understand the stipulations on balance, and exactly how much freedom is given with the business checking account. You don’t want to be stuck with a plethora of fees or headaches.