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A business savings account can be a useful tool for small-business finances. Business savings accounts can help your business keep extra cash on hand to deal with emergencies, help you smooth out your cash flow and save up for larger planned expenses.
One particular question that many new business owners encounter is the role that a federal Employer Identification Number (EIN) plays in your business checking account. Is this really a necessary step to create a business bank account, and if so, how do you get an EIN?
Does your bank’s app have features that make your banking processes more efficient? Take a look at our list of the most useful features business banking apps should have today to find out.
No business owner wants to be in the red or pay avoidable fees — but when it happens, it’s important to have a plan. Setting up a line of credit to cover your businesses overdraft fees is one option.
The PayPal Business Debit MasterCard can be a convenient way for businesses that use PayPal to access the funds in their PayPal account. It’s important to know exactly how this card works — including overdraft features — to determine if it’s a good choice for your business and to use it correctly.
Savings accounts aren’t just for individuals — they are important for small businesses as well. Having savings on hand can help your business weather seasonal income fluctuations and unexpected expenses or prepare for large expenses that you know are coming.
Business checking accounts tend to come with more limits and fees than personal checking accounts, so getting the right account for your needs is important.
Many people don’t want to endure the embarrassment of a declined transaction due to insufficient funds in their bank account. Banks realized this, and they’ve developed a fee structure to help customers and businesses avoid that situation.
The decision to bank with a given institution could invariably lead to banking issues, and those could muck up the course of your business. So let’s take the topic of overdraft fees head-on, starting with a better glimpse at exactly what they are and how they affect you.
You should consider much more than which bank is close by or which one you’re currently using to manage personal accounts. Though there are many reasons to a select a business bank, one of the most important is understanding the bank’s overdraft fee policy.