Before you open up a business checking account online, you’ll need to figure out which bank you want to use—and to do that, you need to determine how you’ll actually use that checking account.
If, say, you know that you’ll need to withdraw cash money on a regular basis, you’ll want to get your checking account from a bank that has plenty of ATMs in your area. Or if you know you’ll be paying lots of bills and making loads of transactions, you’ll probably want a checking account with a high number of free transactions.
But if you just need a place to store your money, you have a lot more options (including online banks).
Now that you understand the essential features you need in a checking account, you can consider other features you might want.
For example, would you like to get your checking account with a bank that also offers a credit card or merchant services? Or a bank that also offers personal accounts? Maybe you just want a bank with no monthly service fee.
These “nice-to-haves” will help you further narrow down the long list of banks so you can find a business checking account that actually meets your needs.