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[F811]Free Small Business Banking

by Peter Kenny, Pet

One of the most important features of large and small business is to have good business banking. Thisg will allow the money within your company to flow, and will greatly save you time and money. If you are a small business owner and are unsure about where to begin with business banking, then here are some basic tips to get you started:

Finding a bank

Before you can begin your business you need to find the right bank for your needs. Unless they have the best deal, it is usually inadvisable to use your current bank for your business needs. This is because it is a good idea to keep your business and personal affairs separate, and means that one bank isn't in control of all your money. Secondly, new customers often get better deals because of the banks being so eager to attract new business. Whatever bank you use, it pays to shop around to find the best products for your needs.

Opening an account

Once you have chosen a bank you need to open an account for your business. This is probably the most important step, and there are a number of things you need to do before you can open an account. Firstly, prepare a business plan to present this to show them where your business is headed. Also, if you are a new company then you will probably need to get proof of your initial financial backing. Your personal credit history and the history of any business partners will also be checked. Once these checks are complete then you will be able to open an account.

Features and rates

The features and rates you will receive will partially depend on the size of your business, as well as the results of your credit checks and the evaluation of your business plan. You are best off starting with a simple account, where you can withdraw money and pay in earnings. Once your business increases then you can add features, such as a high interest savings account, as you go along.

Limited companies

If you are starting a limited company, then you are required by law to open a business account. If you are a sole trader then it is not compulsory, but having an account that bears both your name and a business name is a good idea. This can give your business a more professional look when asking for payment from a client. For example, having cheques made out to John Smith T/A (Trading As) John Smith Services' is more professional than simply having money paid into your personal account. Whether your business is one person or a large company, having business banking will help you.

Online banking

This is one of best ways to conduct your business. If you are looking for a business account, then you should consider one that has online features. This will make basic banking a lot quicker and save you having to travel to your branch every time you need to pay money in or transfer funds.

Imagine a bank that offers so many things free with all of their checking accounts, things such as; online banking, online bill paying, and ATM transactions at many convenient locations as well as Occasional Overdraft Protection Service. Along with all those free services, there are also several options for totally free checking accounts, such as; eChecking, Home Free Checking, Preferred Interest Checking, Prestige Checking, 55 Plus Checking and Student Checking.

Imagine a bank that offers so many ways to save your money! We offer many kinds of savings accounts, such as; Statement Savings, which is an easy way to start saving, Prestige Savings, where the interest paid is based upon your account balances, and Money Market Savings, which requires a higher balance but also pays the highest rates while still allowing you the ability to write checks and have easy access to your funds. For the long-term saver, we offer Certificates of Deposit to those who prefer a safe and guaranteed rate when it comes to their money.

Imagine a bank that finds so many ways to lend you the money that you need, such as; consumer loans, auto loans, and home equity lines of credit as well as both fixed and adjustable rate mortgages with competitive rates, construction loans, and first time home buyer plans. The friendly loan officers here will gladly help you decide what kind of loan makes the most sense for you and your personal needs.

Imagine a bank that encourages the success of most non-profit religious, fraternal and educational organizations by offering them free basic checking account banking services that require no minimum balance, that have a free Visa check card and also allows unlimited activity on most banking activities such as checks, deposits, electronic credits and debits and check cards. Additionally, we promote growth in those same agencies through another type of account called nonprofit interest checking in which the non-profit agency must maintain a specified minimum balance and offset any activity charges the account may incur. If the non-profit account meets those two requirements, and it holds any money in excess of the amounts already mentioned, the bank then pays any interest on that money into the non-profit account.

Imagine a bank that offers so many ways to plan for your future economic stability. We offer services such as; retirement planning with both individual and group retirement plans, education planning with 529 College Savings Plans, and estate planning with Annuities Insurances which include life, health, disability and long-term care. We offer a virtual cornucopia of investment opportunities, such as; stocks, bonds, mutual funds, and tax managed funds. We also offer Real Estate Investment Trust (REIT) Managed Accounts.

Imagine a bank that also keeps the business community in mind. A bank that is experienced in business planning as well as in portfolio analysis and offers business accounts to fill every need, large or small, such as; Basic Business Checking, Business Checking, Business Money Market, and Commercial Preferred Money Market as well as Certificates of Deposit and other lending products.

We think great banking shouldn't be left to your imagination. Come by one of our convenient locations today and see for yourself that we are real.

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About Author

Both Peter Kenny & George Kline are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Peter Kenny has sinced written about articles on various topics from Credit Cards, Finances and Best Money Market. Peter Kenny is a writer for The Thrifty Scot.Please visit us at and. Peter Kenny's top article generates over 368000 views. to your Favourites.

George Kline has sinced written about articles on various topics from DWI lawyers, Criminal Defense Law and Finances. Learn more about , including services like. George Kline's top article generates over 12100 views. to your Favourites.