|
These are the top 20 banks (large banks) in the U.S. that supports small
business banking based on the four criteria listed
below. You should pay attention to any hidden fees
and charges when opening a small business bank account.
Minimum Balance Requirement:
Some banks have a “no minimum balance requirement” for
the life of the account while others require a minimum
after the first year. The "no minimum balance
requirement" is the preferred method. Most small
business owners have to self-finance their businesses and
hence have little capital reserves to maintain in a bank
account.
Online Banking: Some banks
provide free online banking while others charge a fee
for the service. A cost of $0.0 is the preferred
fee for this service. since banks already
benefit from charging fees in other areas.
No or Low Monthly Fees:
Some banks
charge no monthly fees while others charge a flat fee
based on the minimum monthly balance for business
accounts. Some banks will charge no monthly fee if
you have at least one monthly transaction on your
account. The lower the fee the better. The
minimum fee for most banks can be waived if you maintain
a minimum monthly balance of from $300 - $5,000.
Minimum amount to Open an Account: Some
banks do not require a deposit in order to open an
account. Others do require a small amount to open
an account while others require thousands of dollars.
This minimum amount required to open an account should not exceed $100.00.
|
