5 Best Business Banking Accounts in 2021 for Small Businesses
As a small business owner, it’s important to have a reliable and affordable banking account that caters to your specific financial needs. However, with so many options available, choosing the best account for your business can be overwhelming. In this article, we’ll highlight the 5 best business banking accounts for small businesses in 2021, based on their features, fees, and ease of use.
1. Chase Business Complete BankingSM Account
Chase Business Complete BankingSM Account is a great choice for small businesses due to its low monthly fees of $15. It offers several features such as unlimited electronic deposits, business debit card, and online bill payment. Furthermore, you can waive the monthly fee by maintaining a minimum balance of $2,000.
2. BlueVine Business Checking
BlueVine Business Checking is a completely online banking account that is best suited for small businesses that operate entirely online. It boasts an impressive 1.0% interest rate on balances up to $100,000 and no monthly fees or minimum balances. BlueVine Business Checking also includes unlimited transactions, mobile deposits, and an ACH network.
3. Bank of America Business Advantage Checking
Bank of America Business Advantage Checking highlights online banking features like mobile check deposits, easy online invoicing, and bill pay. Small businesses can receive up to $750 when they sign-up for Bank of America Business Advantage Checking before July 31st of 2021. Plus, it offers several banking perks based on your account activity.
4. Axos Basic Business Checking
With no monthly maintenance fees, free electronic deposits, and transactions, Axos Basic Business Checking is an excellent choice for small businesses on a tight budget. It also includes unlimited ATM fee reimbursements. However, it’s mobile app and billing features may not be as sophisticated as other options on this list.
5. Novo Business Checking
Novo Business Checking is best suitable for small businesses that don’t deal with a lot of cash. It comes with no monthly fees, no minimum balance requirements, and unlimited transactions. Novo offers a user-friendly and mobile app that is suitable for owners always on the move.
Conclusion
Choosing the right banking account for your business is an essential decision that requires thorough research. Ultimately, you should consider the fees, features, and your specific business needs to find the best option for you. We hope this article provides you with valuable insights and helps you make an informed decision.
