If you are a business owner, it is extremely important to find the right bank to handle your corporate account. You want a bank that is reliable and offers interesting services to both the company and your employees. Special loan interest rates and impeccable customer service are two features that you can most benefit from. Banks value corporate accounts as they contribute a huge portion of their bottom line profits. This gives you enough leverage as a successful business owner to request special privileges and negotiate terms of agreement with your bank as you grow. If you are still pondering which bank to choose, you have come to the right place. In this article, you will find a curated list of the top 5 banks for business, and why they made the cut: (Image Credits: Gerd Altmann/Pixabay)
Different businesses have different needs, so while it all comes down to your own needs to judge whether a bank is good or not, Chase Bank will surely rank high on your list of top banks. Especially when it comes to smaller businesses, the bank is infamous for its bundled services that are exclusively designed for SMEs and startups.
Chase Bank has over 3,500 branches around the country, and its mobile app will make your banking transactions even more accessible and easier. Another significant benefit that business owners appreciate is their wide selection of credit cards that offers the best interest rates on the market as well as exclusive rewards programs. If you are looking for a bank that enjoys a trusted reputation and can seamlessly cater to your needs as a small business owner, then you should definitely pay a visit to your closest Chase Bank branch and explore your options to set up your corporate account.
Bank of America
Bank of America has been celebrated for its impressive customer support over the years as it always scores high on retail banking satisfaction surveys. From the spotless clean spaces to the friendly, welcoming staff, you will first notice when you visit one of the branches of Bank of America how they care about building a personal relationship with all of their clients. What you might not understand is that these cleaning services for banks serve more purpose than reflecting good hygiene. The clean offices reflect professionalism and make the bank more susceptible to earn your trust and eventually become your bank of choice.
In addition to the physical space, Bank of America offers small businesses compelling introductory offers as a way to welcome them and set a warm tone for future interactions. Furthermore, as a traveling business person, you can benefit from the bank’s travel rewards program dedicated to frequent travelers with zero international transaction fees.
Axos is one of the established online banks, mainly serving e-commerce businesses that do not need a physical bank to manage their finances. If you run an internet-based business, you will surely value the ability to access your Axos account for free from any ATM in the US. Furthermore, Axos offers its clients 50 free checks monthly and unlimited ATM reimbursements.
Capital One is one of the few banks that offer its corporate account clients a checking account with no limits on transactions and without a required minimum balance. It allows you to have unrestricted access to your checking account to cover urgent expenses whenever needed without worrying about whether you have enough balance or not. The bank also offers some of the best money market account options to manage your savings most efficiently.
If your business is fairly new and you are only making a limited number of daily financial transactions, the US Bank checking account is the right choice for you. When you open an account with US Bank, you won’t have to worry about paying maintenance fees as it comes free of charge. With 150 free transactions every month, you will be able to save the cash that you desperately need during your early stages in business. US Bank is an excellent option if you value physical interaction as they have more than 3000 locations across the US.
Finding the right bank is one of the most important decisions that you will have to make as a new business owner. Especially at first, when you are unsure about the needs of your business and still have a lot to learn. The above list can help you limit your choices to make up your mind and choose the most suitable bank. Take your time and talk to representatives from each of these banks then go for the one that feels right.