Best Bank Accounts For Small Businesses & Business Side Hustle in 2021 | Top 5 Small Business Banks

The best banks for small businesses all have one thing in common: They make it cheaper and easier to have and use a small business checking account. Because the best checking account for you will depend on your needs. Ecommerce stores vs. brick and mortar, solopreneurs vs. multi-member LLCs.

In today’s video we will be reviewing the best banks of 2021 for small businesses please click the like and subscribe button below and you’ll be notified every time we drop a new video the best banks for small businesses all have one thing in common they make it cheaper and easier to have and use a small business checking account because the best checking account

For you will depend on your need e-commerce stores for brick-and-mortar sold priors versus multi-member llc’s different needs different banks finding the best bank for your business doesn’t have to be complicated start with the essentials a good business checking account and build from there taking into consideration what you need now and what you might need in

Five years our first break that we’ll be reviewing is chase for business now there are three chase business checking accounts business complete banking performance business checking and platinum business checking here are the features of the chase business complete banking a low monthly service fee that can be waived multiple ways unlimited electronic deposits and

Up to 20 fee free non-electronic deposits per month up to five thousand dollars in fee free cash deposits each month you’ll have access to online and mobile banking including quick deposits where you can scan and deposit checks electronically without visiting a branch free business debit cards for you and your employees now here are some additional key services

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From chase chase business credit cards which are some of the best on the market merchant services to streamline your business’s checkout process chase has 4 700 branches and 16 000 atms nationwide variety types of business loans including sba loans and business lines of credit our second bank is going to be novo novo business checking is a great option for small

Business owners on the go while novo bank has a strong online focus it cannot accommodate cash deposits and essential features for many businesses novo offers free business checking accounts with no minimum balance requirements you’ll be able to use any atm in the united states or international without any fees you’re going to be able to connect your checking account

To financial tools such as quickbooks wise stripe shopify just to name a few so ask yourself what’s in your mum as i’m sure you’ve guessed our third bank that we are recommending is going to be the capital one business checking accounts capital one banking is one of the best for high volume deposits and monthly transactions especially from a brick and mortar bank

Here’s what you can expect with a smart business basic checking account unlimited transactions each month deposit up to five thousand dollars in cash each month with no extra fee 15 dollar monthly service fees waived if you maintain a minimum between 30 to or 90 day average monthly balance of two thousand dollars you’re also going to receive a free business debit

Card online bill pay in online and mobile banking here’s some additional services from capital one you can get six business credit card options to choose from you’ll receive merchant services to accept credit card payments escrow express program to manage and direct escrow funds with online systems you’re gonna have access to business loans including sba loans real

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Estate term loans equipment and vehicle loans installment loans and working capital lines credit and now if you could just help us out for just a second and click on the little bell below for notifications every time we release a new video the next bank that makes our list is going to be wells fargo strictly because wells fargo has over 4 900 branch locations

Across 37 different states making it a great option for business owners looking for a brick and mortar bank with nationwide branch access wells fargo business checking options include 100 transactions per month 5 000 in fee free cash deposits per month online and mobile banking 10 monthly service fee waived with a 500 minimum daily balance or one thousand dollars

Average daily balance here are some additional services from wells fargo full service payroll solutions employee benefits human resources and tax programs a variety of merchant services and new payment technologies to run your business more efficiently wells fargo business credit cards small business insurance coverage to protect your business assets and employees

Our final banking institution on our list is digital federal credit union dcu is among the best credit unions for small business owners and it’s extremely easy to join you can be a dcu member if you meet one of the following criteria you are a member or become a member of participating community organization fees start out roughly about ten dollars you work for

Or retire from a participating employer you live work worship or attend school in select communities in massachusetts or finally reside in certain condominium associations in massachusetts or new hampshire dcu’s free business checking account has no minimum opening deposit and earns interest up to 0.20 as long as your balance is at least one penny you can become

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A member and open an account online some of the key features of digital federal business checking include free atm access at any dcu atm plus more than 80 000 free atms through the all point sum and co-op networks no charge for out-of-network atm use plus reimbursement of charges charged by atm providers depending on your membership level online banking bill pay

And mobile check closet up to 20 free deposits per day you can also get up to four dcu visa debit cards per account now here are some additional key services from digital federal credit union business savings accounts including business money markets and certificates of deposit two ira options for employees commercial vehicle loans and business equipment loans

Available unfortunately paypal didn’t make our top five lending institutions but we definitely would like to give an honorable mention no e-commerce store should go without this giant you will find links to each of the financial institutions below in the description if you’ve used any of the banks that we have gone over please let us know your experience with

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Best Bank Accounts For Small Businesses & Business Side Hustle in 2021 | Top 5 Small Business Banks By Mercury Business Solutions