Tips on Setting Up Your Small Business Bank Account

One of the first things you will need to set up is a bank account. We recommend a large bank because:

They have locations everywhere

They have longer hours

They will probably buy out your local community bank anyway

If you are an owner/operator of a small business, you will appreciate having a Debit or ATM card for your business. They also have easy to read statements for merchant accounts, little or low fee checking accounts, locations in the grocery store, weekend banking, business credit cards (VISA or MC), small business loans, auto loans and leases, etc. If you run a lot of locations and are expanding your business you might even ask the local manager to fax you weekly confirmation of daily deposits made during the week.

When opening an account always ask about checking account fees, primarily deposits per check charges. Try to have these reduced or eliminated. If you wish to shop banks and fees, don