Business Banking Services for Entrepreneurs
Business banking services offer entrepreneurs a way to streamline their businesses. These services cover accounting, payments, and various other features; additionally they allow small businesses to build credit under their own names for loan applications or other purposes.
Novo Business Banking is a fintech service provider that offers free business checking accounts backed by Middlesex Federal Savings, F.A. and insured by the FDIC.
Axos Bank
Axos Bank is one of the oldest online banks for businesses and offers an array of accounts and services to suit its business clients. Their Business Interest Checking account features tiered high-yield interest rates up to 1.01% APY with a minimum opening deposit requirement of $100; plus you get unlimited domestic ATM fee reimbursements and free image statements!
Bank of the West also provides customers with a premium savings account with no monthly fees or minimum balance requirements, and customers can deposit cash free of charge at MoneyPass and Allpoint ATMs. Furthermore, customers have access to a mobile app that enables them to view transactions and balances in real-time.
Axos Bank may not be the cheapest online bank, but it remains one of the top choices for small businesses due to its competitive fees compared to other banking companies. Bluevine, Novo and NBKC are other great business bank options available to entrepreneurs.
Novo
Novo Business Banking is an online bank offering free invoicing and payment processing with low fees, plus integrations with external apps and business services such as Xero and Stripe. Trustpilot reviews give it an excellent score – and is available to any small business owner operating a small operation in the U.S.
Novo is unique among digital banks in that it does not charge monthly fees or require a minimum balance. Furthermore, it does not levy charges for ACH transfers, international transactions and ATM fees worldwide; making Novo an excellent solution for entrepreneurs who wish to track their finances remotely without visiting physical branches.
Novo welcomes most small businesses, such as sole proprietorships (freelancers and independent contractors), partnerships, LLCs, and general partnerships, but does not accept certain high-risk businesses.
You can compare business banking services here or below:
- Axos Business Banking
- Billions deposited
- Business basic checking
- Easy approval, no EIN!
- Excellent rating!
- Axos Interest Checking
- Business interest checking
- Great for small businesses
- Interest bearing account op
- Business checking
- Excellent rating
- Axos Bank
- Basic business savings
- Interest bearing
- Easy signups
- Easy approval
- Easy access
- Online options
