Top 5 Best Business Bank Accounts for Small Businesses in 2021
Small businesses are in constant pursuit of financial management solutions to streamline their operations and increase profitability. Choosing the right business bank account can help small businesses access cost-effective, flexible, and personalized financial services suited to their unique requirements. In this article, we discuss the top 5 Business Bank Accounts for Small Businesses in 2021.
1. Chase Total Business Checking
Chase Total Business Checking is an optimal choice for small businesses because it provides various facilities, such as offering complete financial solutions and cash deposits, access to over 16,000 ATMs nationwide, and 24/7 customer service support that is available online. Besides, there are no monthly fees on a minimum balance of $1,500.
2. Bank of America Business Fundamentals Checking
Bank of America Business Fundamentals Checking is an excellent choice for small businesses with low account activity. It provides an easy-to-use online banking platform, allowing users to make payments, manage accounts, and access account statements. This account has a $16 monthly fee; however, it is waived if you maintain a $5,000 minimum daily balance, spend $250 on purchases, or have at least one qualifying transaction each month.
3. Capital One Spark Business Checking
Capital One Spark Business Checking is an excellent option for small businesses because it offers an unlimited number of transactions, debit cards, and electronic payments options. Moreover, it doesn’t incur any monthly fees providing you maintain a balance of $2,000 or more. It boasts of remarkable customer service support with phone and online options, along with free international cash deposits.
4. BlueVine Business Checking
BlueVine Business Checking is designed to provide small businesses with unlimited transactions and increased transparency. This account does not require any minimum balance amount, and it doesn’t carry any hidden fees either. It offers extra services, including invoice factoring to decrease payment times and instant overdraft protection to avoid NSF fees.
5. Axos Bank Basic Business Checking
Axos Bank Basic Business Checking is an online-only account that is cost-effective and highly convenient for businesses. It provides unlimited fee-free transactions, 24/7 banking services, and free first set of check orders. Additionally, it does not require a minimum balance and comes with a free online banking and mobile app, making it easier to manage finances.
Conclusion
Choosing the right business bank account is a crucial decision that can impact the success of small businesses. Remember to consider your business’s unique needs and requirements to ensure you choose a business bank account that provides the financial solutions and support you need. With this list of the top five best business bank accounts for small businesses in 2021, we hope you can make an informed decision that drives your company’s growth and success.
