Best business banks to consider when opening a bank account for your company.
Running a business today, you have to work with one or several banks. Paying your employees and handling expenses are some of the basic reasons why you need a professional business bank as an owner of a business. If you have high dreams of growing your business, then it is most likely that at one time you will also need a loan to finance necessary growth in your business or to offset some outstanding expenses. This is one of the most crucial aspects that a businessperson should consider before choosing the bank to have an account with.
Not all banks have the same available services and different banks have different policies for providing business loans. Banks also have different accounts and each account accrues unique costs for the account holder. One should do a thorough study of all available banks and bank accounts in their vicinity before settling for one. Below are some of the five most popular national banks that are ideal for a business owner:
1) Chase Bank
This bank has committed itself to being a favorable small business-banking provider. This bank has been around for a long time and it has beautifully adapted its services with the advent of technology. This was the pioneer bank to accommodate check deposits via the mobile phone camera shot. One of the major advantages of this bank is that it makes it easy for the account holder to follow any transactions made from the account. Chase bank is also ideal for the keen business owner who wants a daily update of the account’s balance and activities for the day. Other services Chase Bank provides for its users is a payroll service, a check scanner, and online invoicing.
2) Bank of America
It being the largest bank in the country, Bank of America is also one with the most benefits for the business account holder. Currently, Bank of America has over 4 million small business customers and it has in recent times being stepping up its efforts in providing more loans for startups. The only setback could be the high and numerous fees that account holders have to pay. However, this can be overlooked due to the numerous of other benefits the bank provides.
3) Wells Fargo Bank
Wells Fargo has numerous branches across the nation and no matter where you are in the country; you will find a Wells Fargo branch in your neighborhood. This bank has many offerings for small business account holders and they provide numerous vital services to ensure that your business runs smoothly. These services include mobile support, merchant services, and payroll services among others.
4) Capital One Bank
Capital One has a reputation for being a credit card provider and a good bet for getting start-up finances. Among the many services it provides, the account holders can enjoy Microsoft money, mobile support for iOS and Android phones, and the Business Money Market does not attract any fees regardless of the account’s balance.
5) TD Bank
This bank does a good job of living up to its motto of “America’s Most Convenient Bank”. TD bank does not have many superfluities that often make bank account details fuzzy and end up being expensive for the account holder. The bank claims to offer longer open hours than all other banks in the country. TD Bank provides support for Microsoft Money.
With technology constantly changing everyday, you can bet the top banks have invested in the best applications for the smartphone user. It’s not always about who has the best rates or lowest fee’s, but sometimes it comes down to the service and the professional relationship your business banker offers. You’ll have to see for yourself, what your needs are and what’s more important to you and your company. Happy hunting!
Top Five Business Banks