2016-11-21 00:00:00 Advice English Compare bank accounts to find out which ones work best for small businesses. A low-fee account might be the best choice when first opening... https://d1bkf7psx818ah.cloudfront.net/wp-content/uploads/2017/03/08214817/small-business-owner-waits-in-bank-lobby.jpg Tips for Choosing the Right Bank for Your Small Business

Tips for Choosing the Right Bank for Your Small Business

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A bank can be a valuable partner when you first start a business. When it comes to choosing a bank to assist you with your banking needs, consider the likely number of transactions you’ll make. In your business’ earliest days, you might only have a few deposits and withdrawals, in which case a bank that offers low-fee or free accounts for businesses with low numbers of transactions may work best for you.

Additionally, look for banks that offer loans and lines of credits to small businesses. You might also consider opening an account with a bank that offers mobile banking options. If you use cloud-based booking and accounting software, find out which banks allow you to link your business account to the software.

References & Resources

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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