Checking Accounts For Entrepreneurs: 6 Best Choices

February 8, 2023
Image by Tumisu from Pixabay

Starting a business requires careful planning and an eye for detail, especially when dealing with incoming payments, outgoing bills, and taxes. Choosing the correct checking account can make all the difference in how efficiently you can operate your business, but with so many options, how do you know which one is best for you? Read on to find out which account is correct for you! In this article, we’ll look at six of the best checking accounts for entrepreneurs and the features they offer if you plan to open a business checking account online.

Pillar Financial

Pillar accounts can benefit entrepreneurs looking to grow their businesses. With Pillar financial bank accounts, you can get approved and open your account in minutes without passing any credit checks or maintaining a minimum daily balance. You’ll also benefit from unlimited card transactions, access to top-tier banks for safe and secure funds, and no hidden fees or charges. With a Pillar business checking account, you can focus on running your business and growing it further with peace of mind.

Novo

As an entrepreneur, it’s essential to have a business checking account to help you manage your finances and help you grow your business. Novo is an accessible online checking account that is built for entrepreneurs. With Novo, you can easily connect with Shopify, Square, Quickbooks, Stripe, and thousands more. Novo also offers fast, personalized customer support and is FDIC-insured.

Lili

As a small business owner, you have a lot on your plate. The last thing you want to worry about is your bank account. With Lili, you can rest assured that your finances are in good hands. It offers a one-stop shop for all small business needs, from banking and accounting to taxes. Plus, its invoicing software makes sending, tracking, and accepting payments easy. With its write-off tracker, you can categorize your expenses and save money on taxes. The online banking platform is 100% free and easy to use on any device.

Chase

Chase is one of the oldest and most well-known banks in the United States. If you’re looking for a brick-and-mortar bank with a wide array of branches and ATMs, Chase is a good option. The company offers several business checking account options, all with no minimum deposit requirement.

Chase also has its mobile app and banking tools, making it a convenient option for busy entrepreneurs. The company’s commercial credit cards offer plenty of value and perks, making them a good choice for small business owners.

Wise Bank

An account with Wise Bank is the perfect choice for entrepreneurs who need to send money abroad. With our real-time exchange rates, no hidden fees, and low transaction fees, you’ll save time and money that you can put back into your business. You can conveniently manage your overseas transactions from a secure and intuitive platform. Join the thousands of entrepreneurs who use Wise Bank and save time and money when sending money abroad!

Wise Bank is a banking services provider that offers several handy perks for entrepreneurs, including market-rate currency conversions without inflated spreads and fees, support for over 54 currencies received from 80 countries, and automatic conversions of third-party payments into another currency. Wise also has bank accounts in 10 countries, eliminating the need for cross-border transactions.

US Bank

US Bank might suit you if you’re a small business or a side hustler with moderate cash flow or transactions. US Bank offers one of the best online business checking accounts for startups and entrepreneurs looking to build business credit and get a Small Business Administration (SBA) 7(a) loan. They have certain limits in using the accounts, but the fact is, most small businesses won’t hit those limits, so you have zero worries about it. It’s helpful to the bank to borrow money for your business under one roof.

Besides being convenient, it is a great way to build a strong working relationship with your bank to help ensure your business’s success. This can also help you build business credit. Getting a small business loan can be a real challenge if you need to know what you’re doing. There is a process for getting a business loan that ideally starts when forming your business. Most businesses should plan. The SBA 7(a) loan will require some time to get, plus there’s a mountain of paperwork to complete. You will also need to build your business credit to have a chance of qualifying.

Conclusion

For entrepreneurs, every penny counts. That’s why ensuring you have the best bank account for your business needs is essential. The correct checking account can help maximize your savings and protect your funds from theft or fraud. It can also provide access to business-friendly features like merchant services and employee benefits. We are sure these options will help your business soar to new heights! Doing the research and understanding what each account has to offer can be a daunting task. Still, it’s worth the effort to unlock all of its benefits.

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