Business Banking Basics

When evaluating commercial banks for business banking, shop around and carefully review all the different service offerings available.

Some important considerations:

• Look for accounts with low to no monthly fee

• If there’s a monthly fee, what are the options to waive the monthly fee?

• What’s the number of free or included deposit/withdrawal transactions per month and the type of transactions included?

• What’s the policy and limit for cash deposits?

• Are incoming and outgoing ACH/wires free?

• Does the account offer free checks?

• Is mobile and/or remote deposit available/included?

• Is online bill pay available/included?

• How do you access monthly statements?

• Is the online banking system available via web & mobile?

• Does the account include a banking card (debit/ATM card)?

• Ask for a fee schedule covering all banking services available with the account