Free Business Checking Accounts

If your small business is closely watching a tight bottom line, you’ll be happy to know that free business checking accounts are out there, whether you’d prefer to bank online or at a real brick-and-mortar branch in your area.

However, to find them, you may need to do some digging — free business checking is far more common at smaller banks and credit unions than at any of the nation’s biggest banks. There are also a few free small-business checking options with online-only banks. And even if you don’t find a truly free business checking option, your bank may waive the monthly fee if you maintain a certain balance in the account or meet other criteria.

Free business checking at big banks

Big banks such as Chase and Wells Fargo, with their massive networks of branches and ATMs, are seductively convenient. They offer a full range of services, meaning even larger companies can keep all of their business in one spot. Online banking tools and resources are typically polished, too.

As I mentioned above, however, free business checking isn’t an option at the nation’s biggest banks. You may also find it harder to build a meaningful banking relationship at a bigger bank — after all, behemoths don’t have to work quite as hard to keep your business.

Here is a comparison of the base-level Chase business checking account, Wells Fargo business checking account, and Bank of America business checking account. These accounts are designed for small businesses, but each bank has account options for bigger businesses with more transactions and cash deposits.

	Chase	Wells Fargo	Bank of America
Monthly account maintenance fee	$10-$12; waived with a daily average balance of at least $1,500	$14, waived with a monthly average balance of at least $7,500	$15, waived with a monthly average balance of at least $5,000
No-fee transaction limit	200	200	200
No-fee cash deposit limit	$7,500	$7,500	$10,000

As you can see, your options are fairly similar. Chase business checking has the lowest minimum balance for getting your monthly fee waived. Bank of America business checking allows a slightly more generous $10,000 in cash deposits, but the monthly fee is a bit higher if you don’t meet requirements to waive it.

Note that there are often ways to avoid paying the monthly fee other than maintaining a certain minimum balance. For instance, Wells Fargo business checking also waives the fee if you make more than 10 purchases with your business debit card each statement period or set up payroll transactions with the account.

Free business checking at local banks and credit unions

Smaller local banks and credit unions are more likely to have free business checking options than larger banks. You may also find lower (or no) account minimums and more flexible allowances for transactions and cash deposits.

Another potential benefit of keeping your business local is the ability to build more of a personal relationship with your bank. Facetime can humanize you and your business, reminding your bank that you are more than your account balance. This can come in particularly handy if you ever have any banking problems. It may also boost your chances of landing a much-needed loan to grow your business one day.

Of course, there are a few downsides to staying local. Some smaller banks don’t offer the range of products and services that their giant competitors have. You may also find less-polished (or nonexistent) online tools, and you won’t have the convenience of an ATM network with national reach.

Of course, offerings will vary depending on your location, but it wasn’t hard for me to find several free business checking options close to me in Knoxville, Tenn. One local bank,Clayton Bank and Trust, offers free small business checking with a low $100 minimum deposit and a 200-transaction monthly limit. Even better, SmartBank’s free business checking option allows 1,000 transactions and $10,000 in cash deposits before fees kick in.

A local credit union, Y-12, offers a basic business checking option for very small business with a lot of free features, including a check card, online banking, incoming wires, and bill pay. Transactions are capped at 50, but the fee for going over that number is reasonable, at 15 cents per item.

Free business checking online

Online banks are always open, and that’s a wonderful convenience for a small-business owner. Lack of overhead even means lower (or no) fees, and you might even be able to find a business checking account that earns interest.

The main downside with most online banks for businesses will be that you’re usually not allowed to deposit cash. If your small business conducts a lot of cash transactions, you’ll almost certainly need to use a traditional bank in your area. ATM access may also be an issue — be sure your online bank either waives ATM fees or allows fee-free access to a national network.

One of your best free business checking options online is No Bull Checking from SmallBusinessBank.com. SBB is an offshoot of Gardner Bank, based in Kansas City. Like most other banks that offer free business checking, SBB doesn’t charge monthly maintenance fees or require a minimum balance to avoid them.

You also get all of the following without shelling out a dime: unlimited transactions, checks, a business debit card, online bill pay, exports to Quicken and QuickBooks, and mobile deposit. The minimum deposit is a low $100.

If you have a little more cash on hand, EverBank also offers free small business checking. The account requires $1,500 to open, but you get a nice return on your money — anywhere from 0.85% to 1.01% APY, with a six-month introductory rate of 1.40%.

Two computer-scanner options allow business to deposit a high volume of checks right from the office, but there’s also free mobile and mail deposit. Everbank also offers a business money market account, a business CD, and a business credit card with a rewards program.

BofI Federal Bank also offers a free business checking account with no maintenance fee — and no account minimum needed to avoid one. You get 200 free transactions per month, a nationwide ATM network, and free bill pay, online banking, and image statements. There is a $1,000 minimum initial deposit, however. Also under BofI’s umbrella is Bank of Internet USA, a well-regarded online-only bank that focuses on personal banking.

What to look for in a business checking account

Remember to evaluate business checking accounts in the context of your particular business. If you’re a business of one who conducts business entirely online, your needs will be very different from those of a local mom-and-pop diner with a dozen employees and lots of cash deposits.

• Ability to waive fees: If your bank charges a monthly maintenance fee, they may waive it if you maintain a certain balance in your account. However, that balance may have to be fairly substantial, particularly at bigger banks.
• Access to ATMs: If easy access to ATMs is a big priority, you’ll want to focus on bigger banks with extensive ATM networks. Alternatively, some online banks will reimburse your ATM fees, but that might be an extra step you’d rather not take.
• Cash deposit limits: Many online banks don’t allow cash deposits at all, and other banks will limit such deposits. For instance, you may only be able to deposit up to $10,000 in cash per statement cycle without incurring fees. Credit unions have looser limits and may be a better bet for cash-heavy businesses.
• Transaction limits: Business checking accounts are typically subject to a cap on how many transactions you can conduct per month. Limits often range from 100 to 500 transactions. Exceed the limit and you’ll pay a fee on each additional transaction.
• Potential for a positive banking relationship: If you’re hoping to grow your small business, consider how your bank can help. Small business loans can be notoriously hard to land, and forming a relationship with a bank — so they see your business as more than a number — can ease the process. Such a relationship will probably require person-to-person facetime that you have a better chance of getting at a smaller community bank or credit union.
• Ability to bank online: Though it’s easy to assume you’ll be able to perform basic transactions online, smaller local banks and credit unions may not offer free online banking. Further, the usability of online tools can vary widely, with bigger banks and online banks typically offering better, more user-friendly tools.

Free business checking exists in many forms

While you’ll find most of your free business checking account options locally, a handful also exist online. You can even swing free business checking with the big banks as long as you meet their requirements for a fee waiver, often by maintaining a minimum balance.

If you’re a sole proprietor with a very small business, you may simply want to use a regular personal business checking account for business purposes. It’s much easier to avoid fees with personal accounts, and some banks offer sub accounts that make it easy to keep your business funds separate. Check out The Simple Dollar’s guide to the Best Free Checking Accounts for some great options.

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The 50 Best Companies to Work for in America

When it comes to finding a job you love or a job that pays well, most people think you have to choose one or the other. But if you're working for the right company, you don't.

Business Insider teamed up with the employer-information website to find US companies that stand out in pay, happiness, and more.

Tech companies came out ahead this year, with Facebook and Google taking the two top spots, respectively. Last year's No. 1, biopharmaceutical company Celgene, tumbled to No. 6.

To create this list, companies in the 2014 Fortune 500 list were ranked using PayScale's salary and survey database. Final scores were determined by multiplying six criteria: high job satisfaction, low job stress, ability to telecommute, high job meaning, experienced median pay, and salary delta. Because we think pay is a very important factor, it had double the weight in our calculations. Read full article http://goo.gl/vDQe7j

Top Keywords: Top Marketing Consultant,Find Marketing Companies,Top Investment Companies,Best Companies in America,List of companies of the United States

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Top 10 Best New Business Great Ideas

Best Business Ideas

It's the year of the bourgeois. Thanks, in part, to social media, crowdfunding and different loaning choices, and therefore the constant evolution of technology, it is a nice time to begin a business. And with new trends stoning up perpetually, there are lots of ways that aspiring entrepreneurs will make the most them. Here's a listing of seventeen business concepts to inspire your entrepreneurial spirit in 2015.

1:Freelancing

Companies ar more and more turning to freelance and contract staff to fill the ability gaps in their employees. it isn't arduous to imagine that you just may build an entire company around providing freelance services of 1 kind or another.

According to Freelancer.com, that lists quite 1,000,000 freelance comes on its web site, the foremost in-demand freelance services ar information entry, educational writing, surpass comes, processing, net search and Facebook-based jobs. Some freelance gigs pay by the project and others pay hourly, and also the rates will vary greatly. however as you gain a lot of expertise, your earning potential can soar.

2:Mobile consulting

Mobile technology is currently essential for nearly any business, however finding ways that to travel mobile could be a challenge for several business homeowners. If you'll be able to give cheap mobile solutions to businesses that require them, you will find mobile consulting an expensive business chance.

According to Jamie Turner, founding father of The 60-Second vendor, there'll be associate current want for mobile help.

"Research from The 60-Second vendor indicates that there ar additional folks on the earth who own a mobile device than who own a toothbrush," aforesaid Turner, who co-authored the book "Go Mobile" (Wiley, January 2012) with Jeanne Hopkins. "So it's safe to mention that your prospects ar victimization mobile. If you are in business, it is your job to be wherever your prospects ar. Your prospects ar in mobile straight away."

3:Translation services

There's no denying the worldwide marketplace is growing and reaching on the far side the borders of China and United Mexican States. All that society communication is making a growing want for translators.

According to the U.S. Bureau of Labor Statistics' activity Outlook reference, the hiring of interpreters and translators is projected to grow by forty six by 2022, abundant quicker than the typical for all occupations. this implies it is a business chance for entrepreneurs who will bring foreign-language speakers beside businesses in want.

4:Employee-monitoring services

Employees are increasinglymobile. In fact, in step with a forecast from the International knowledge firm., the U.S. mobile-worker population is anticipated to grow to one hundred and five.4 million employees worldwide by 2020. therefore however square measure employers imagined to keep track of what their employees square measure doing? Aspiring entrepreneurs will notice many ways to unravel this drawback.

There are lots of vehicle-tracking time clocks and time-clock apps, however employers typically haven't got the employees or the time to manage all this new knowledge and distill it into what's required for payroll and asking. an organization that might give employee-monitoring services, additionally as some extra outsourced human resources functions, would be in nice demand immediately.

5:Traveling salons

As people live longer, there is an increasing would like for senior services of all types, and not all of those desires are associated with health care. One service that has nothing however growth potential may be a mobile salon that travels to customers' residences to try and do their hair or nails.

As aging baby boomers go in the senior-citizen class, there'll be a growing would like for these mobile services that facilitate keep them moneyed while not requiring them to form a visit to the salon.

6:Healthy vending machines

More and additional health-conscious and time-strapped Americans are craving for fast food on the go that's healthier than the soda and chips you always realize in peddling machines. This has spawned an entire new trade of wellness-oriented, specialised peddling firms like recent Healthy peddling that provide franchisees the prospect to possess and repair peddling machines with higher foods and beverages.

Interested entrepreneurs will either open a franchise from an existing slot machine business or sell vending-machine friendly product to assist top off colleges and offices with healthier, cheap snacks.

7:Smartphone Repair

Smartphones became indispensible for each business and private use. however have you ever ever tried to urge one fixed? Repairing a broken phone will value the maximum amount because it will to shop for one.

Smartphone-repair services like iDropped, a eminent chain of Pennsylvania-based smartphone repair stores, ar beginning to happen round the country. If you have got a endowment for fixing broken screens and resolution smartphone tech issues, then gap up a more cost-effective smartphone store or service could be the thanks to go.

8:Contracting

Contracting may be a nice optionfor proficient staff who area unit able to take the leap from being an worker to owning their own company. With the economy up and a lot of individuals wanting to get or improve their homes, there is a lot of of a requirement for proficient labor, creating this the proper time to start out providing acquiring services. If you'll be able to cater to first-time owners, even higher — in line with CNN, 2015 is that the year first-time home consumers are creating a comeback as millennials begin wanting to shop for their own homes.

It's most likely best to start out tiny and check the waters, however once you have tested your success, your business will still grow.

9:Testing businesses

Apps, mobile-friendly websites and e-commerce became must-haves for each business. Often, however, they do not work properly. One reason is that companies do not continuously check their applications or software package rigorously enough, that means testing services are currently in hot demand.

For example, one company, SOASTA, offers cloud testing services for purchasers. and there is area during this marketplace for growth — a service that makes a speciality of niche testing, for example, would have a grip over broader testing services.

10:Business services

A lot of firms deflate on support employees throughout the recession, and lots of are reluctant to rehire, despite the fact that they have facilitate. Instead, several are outsourcing noncore business functions to third-party corporations. this is often be} making a business chance for anyone who can give promoting, human resources, health care management or the other service a business desires.

This is particularly excellent news for entrepreneurs who wish to run alittle business. consistent with business analysis by the Michigan State University Broad school of Business, the business-to-business services field is very fragmented and not dominated by any giant players. Instead, little businesses have the chance specialize and specialise in their niches.

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