Watch Related Videos
comments
For many, the business banking services that are included with your business bank account will have a profound impact on the way that you do business. Without realizing it, a lot of small businesses will open a business account and not have some of the must have business banking services that will make their doing business a lot easier.
Banks, besides being an entity for holding your money, is in the business of helping your business be successful. It might not seem that way sometimes, but with a suite of business banking services that are aimed at helping take the pressure off your financial worries, banks are working hard to build your business also. When opening a business account with your bank, look for some of these must have business banking services.
Free Checking Services
The fees from a business checking account that is not free can be pretty substantial. Even for a small business the charges that are accrued after a certain level of activity can be pretty high. This is money that could be kept in your account for other expansion, better equipment, more staff. A free checking account is a must have in business banking services.
Online Payments
Convenience in a business banking service is quite important if you are busy and need to have things done according to deadlines. Online payments help you to be able to either automatically pay your recurring bills, or give you the option of paying each bill at one time. Some banks also have the option for you to pay your employees either with a check or direct deposit.
Online Account Reporting
Knowing where your account balance is at any time during the day is very valuable if you are trying to build a stronger business. With instant viewing of your transactions, and the bottom line of your account, you can make future business moves.
Free Quicken/Quickbooks
For some businesses, having an accountant, or someone dedicated to keeping up with the credits, debits, investments, marketing accounts, business loans, and a host of other financial activities to track, it can get expensive. That money could be used elsewhere to build your business. Another must have business banking service is for the use of a Quicken, or Quickbooks, accounting software.
Invoicing
Banks, in the continuing effort to create services that most businesses need, can now help you with your invoicing. While entering your online bill payments, you can now also send invoices to your customers. Again, convenience is probably the biggest business banking service.
Line of Credit
Among the list of must have business banking services, a line of credit is something that is essential to the overall future of your business. You must be able to, when opportunity presents itself, make quick decisions on either going forward with it or not. Knowing you have available funds ready for you to use is a great comfort.
Choosing the right bank for your business, or small business, is an important choice. Choose the one that offers these must have business banking services.
Business Banking Services Every Account Must Have
