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6:49 pm
September 14, 2011
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The College Investor
| | San Diego, CA | |
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I think I finally need to get a business checking account, but I don't want to pay.
Does anyone know of a good bank where I can get a free business checking account?
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7:24 pm
September 14, 2011
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Miss T @ Prairie Eco-Thrifter
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You can try ING. I think they have one.
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7:52 pm
September 14, 2011
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JT_McGee
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Biz checking at my CU is free for the first 20 checks per month. After that it's like $.10-$.20 each or something like that…can't remember.
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8:15 pm
September 14, 2011
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Khaleef @ KNS Financial
| | Fat Guy, Skinny Wallet | |
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Capital One has a free business checking account. It's even tied to their rewards program! I love it.
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9:07 pm
September 14, 2011
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OneCentAtatime
| | Florida, USA | |
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We have a non profit association, our free business checking is at Wells Fargo. Besides being free, what I like most is the online bill pay, where in you can send physical check to any one in continental USA. We need only the name and address to issue the check.
You can give it a try, you can save on paypal 2.9% fees in some transactions.
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10:24 pm
September 14, 2011
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Suba @ Wealth Informatics
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Robert is there any reason you want a business checking account? Most of the big banks have minimum required amount wells fargo ($1000 I think) BOA (4000?). I have a Schwab investor checking that I use as "business" checking. There is a Credit Union that has free checking without any minimums. I am sending you an email.
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11:27 pm
September 14, 2011
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The College Investor
| | San Diego, CA | |
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| posts 1935 |
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Thanks Suba! I need an account because I need to cash a check under my DBA name The College Investor! Its very small, so I'm not in a hurry, and it's also why I want a free one!
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5:34 am
September 15, 2011
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Tushar @ Everything Finance
| | Atlanta, GA, United States | |
| Member | posts 386 |
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Since I formed an LLC, my tax consultant strongly suggested I create a business checking account and charge all business related expenses to a business credit card.
I have a business checking with BofA. When I opened the account, their minimum requirement was that $3000 needs to be in the account at all time. Otherwise they would charge a bank fee of $15 per month.
But now they have an option that if you use your atm/debit card to do a transaction, they will waive that $15 fee.
Luckily, I'm able to maintain that $3000 as well as do debit card transactions.
But for truly free options, credit unions are your best bet.
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Tushar @ Everything Finance
Everything Finance
Email: tusharm at gmail dot com
Twitter: @AllFinance
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6:15 am
September 15, 2011
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Mike – Saving Money Today
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When I formed my LLC I opened an account with TD Bank. There are a million locations in my area and the hours are convenient. There's no minimum balance for the first year and then they only charge a fee if the balance drops below $500, which is not a problem for me to maintain. If I go over 500 monthly transactions there are fees but since most stuff goes through Paypal that's not a problem.
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