Opening a business bank account is one of the first steps any new business needs to take. But there are a ton of bad options out there for business checking accounts. In this video, I'll reveal the best business bank account out there that is completely free to use!
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Business bank accounts are necessary for all new businesses or LLCs. As a business owner, you need to be separating your business vs personal expenses so that come tax season, you'll have an easy time sorting through your business's financials.
By using a business checking account, you'll be able to separate your business and personal financials and keep yourself legally protected if something were to happen to your business.
When it comes to choosing the best business checking account, there are a few criteria to keep in mind. The first of which, and most important, are the fees. If you set up a business bank account with one of the big banks like Wells Fargo or Chase, odd are they will charge you a monthly fee just to keep the account open as well as other fees like overdraft fees and fees if you don't meet a minimum balance.
The best business bank accounts are not going to charge you any fees. That's because the best business checking accounts all come from online banks. Online banks have much lower expenses than the big banks and can afford to pass some of those savings along to small business owners in the form of no-fee business bank accounts.
So whether you decide to go for my pick for the best business checking account or find another option, make sure you won't be paying any fees!
0:35 Criteria For Best Business Bank Account
1:40 The Best Business Checking Account
2:10 Features Of The Best Business Bank Account
5:35 How To Evaluate Other Options
6:20 4 Step Process To Financially Set Up Your Small Business