As a small business owner, having the right bank account can help you manage your finances and increase your available lines of credit. Choosing the best business bank account can help you avoid fees, earn interest, and access credit when you need it most.
In this article, we will discuss some of the best business bank accounts for small businesses to help increase available lines of credit in 2023.
1. Chase Business Complete Banking℠
Chase Business Complete Banking℠ is an excellent option for small businesses looking for a low-cost checking account. It has a $15 monthly service fee that can be waived with a minimum daily balance of $2,000 or by linking a qualifying Chase account. This account also comes with a welcome bonus of $300 when you open an account and meet the eligibility criteria.
Chase Business Complete Banking℠ offers overdraft protection, mobile banking, and access to Chase Business Online, which allows you to manage your account, pay bills, and transfer funds.
2. Bank of America Business Advantage Checking
Bank of America Business Advantage Checking is another great option for small businesses. It has a $29.95 monthly service fee that can be waived if you maintain a minimum daily balance of $15,000 or if you have a qualifying Bank of America Merchant Services account.
This account offers overdraft protection, mobile banking, and access to Bank of America's online banking platform. It also comes with a welcome bonus of up to $750 when you open an account and meet the eligibility criteria.
3. Azlo Business Checking
Azlo Business Checking is an online-only checking account designed for small businesses. It has no monthly maintenance fees or minimum balance requirements, making it an attractive option for startups and small businesses.
Azlo Business Checking offers mobile banking, online bill pay, and the ability to send and receive electronic payments. It also integrates with popular accounting software like QuickBooks and Xero.
4. BlueVine Business Checking
BlueVine Business Checking is another online-only checking account designed for small businesses. It has no monthly maintenance fees or minimum balance requirements, and it offers fee-free transactions, ACH transfers, and mobile check deposit.
This account also offers the ability to earn 1% interest on balances up to $100,000, making it an attractive option for businesses looking to earn interest on their checking account balance.
5. Radius Bank Tailored Checking
Radius Bank Tailored Checking is an interest-bearing checking account designed for small businesses. It has a $10 monthly maintenance fee that can be waived with a minimum daily balance of $5,000.
This account offers unlimited transactions, mobile banking, and the ability to earn interest on your balance. It also comes with a welcome bonus of up to $100 when you open an account and meet the eligibility criteria.
Conclusion
Choosing the right business bank account can help you manage your finances and increase your available lines of credit. The accounts listed above offer a variety of features and benefits, including low fees, interest-bearing accounts, and mobile banking. When choosing a bank account, it is essential to consider your business's specific needs and choose an account that meets those needs while also providing the features and benefits that matter most to you. By doing so, you can help increase your available lines of credit and position your business for success in 2023.
