4 Reasons A Small Business Benefits with a Business Checking Account
Establishing a small business often includes opening a business checking account. Whether it’s opening an online retail store or bringing business to “brick and mortar”, it’s important to have your business finance structure ready to ensure the security and success of growing your company.
What Are the Benefits of Opening a Business Checking Account?
1. Creates a Division of Your Personal Finances vs. Your Company
Small, or not-so-small, businesses with sole proprietorship or joint owners can track income and expenses meant to go towards the funding of their establishment—it’s a lot easier to streamline exactly where your money goes. This is especially beneficial for business expense reporting during tax season.
2. Business Checking Accounts Allow Larger Cash Deposits
As any business starts to grow revenue and handles a larger amount of cash day-to-day, it’s important to have a checking account that allows for making deposits and withdrawals as needed.
3. Consider Additional Services Your Business Will Require
Additional services provided such as merchant card processing allows an easier transaction between customers and your business and can be “bundled” with your business checking account.
4. Get the Best Interest Rates
Business checking accounts typically provide better interest rates than personal consumer accounts. Visit our business rates page to see our current rates on checking accounts and more.
Grow Your Business Needs With Your Credit Union
American Eagle Credit Union wants to help your business succeed and reach its full financial potential. Talk to one of our business team members to learn more about our services such as business money market accounts, CDs, and the premium platinum Visa card today!