best checking accounts for small business 2019

Voted Best Business Current Account Provider for 17 consecutive years (Moneyfacts, 2003-2019) and Business Bank of the year for 5 consecutive years (Moneyfacts. firm is a solid bank that helps it run smoothly. Start here to learn about the best small business bank accounts. June 5, 2019. Our transaction account solutions for businesses and organizations offer simple, straight forward tools that are cost effective yet robust in capabilities. Our.

: Best checking accounts for small business 2019

Best checking accounts for small business 2019
Best checking accounts for small business 2019

Cynergy Bank Limited. Registered in England and Wales: 04728421.
Registration Office: 27-31 Charlotte Street, London W1T 1RP.
Correspondence address: PO Box 17484, 87 Chase Side, London N14 5WH.

Cynergy Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Asset Based Lending is exempt from regulation chemical bank open near me the Financial Conduct Authority and the Prudential Regulation Authority. Our main business is the provision of financial services under registration number no. 575105.

Eligible deposits with Cynergy Bank Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Chase sba loan application deposits you hold above the protected limit are unlikely to be covered. Further information is available here or visit

Click here for free and impartial advice, set up by the government. Cynergy Bank Limited is a member of UK Finance and subscribes to the Standards of Lending Practice published by the Lending Standards Board which covers good practice in relation to loans, overdrafts and other types of lending that we do not currently offer. Further information is available here.

Calls to 0345 850 5555 (+44 (0)20 3375 6422 from outside the UK) may be recorded for monitoring and training. 

BSI 22301BSI 27001BSI 14001Carbon Neutral

3 Business Current Account (including start-up and switcher offers)
  • You intend to use the account for business purposes only
  • Arranged overdraft
    (Subject to status)

    10.00% EAR (variable)

    Annual fee 1% of the agreed overdraft (minimum fee £50)

     Use our quick and easy application checklist (143 KB) to make sure you have all the required information before you apply.

    You can best checking accounts for small business 2019 your Santander business current account online if you’re:

    • a sole trader or current partner in best checking accounts for small business 2019 partnership
    • a member of a limited liability partnership
    • a director of a private limited company


    • only your signature is required to operate the existing account on behalf of the business
    • the account you want to transfer is either a Business Everyday Current Account or a Business Current Account

    If you want to transfer you’ll need to:

    1. Log on to Online Banking
    2. Go to ‘Apply online’ on the right hand side and click on ‘Transfer current account’
    3. Have your existing account details to hand
    Screenshot from Online Business Banking showing the transfer journey in the apply box on the right hand side

    When you transfer your existing Santander business current account you’ll be able to keep your existing account number, card and PIN. 

    Please note: if you’re transferring from a product that is currently not on sale you will be unable to transfer back to this.

    Log on and transfer now

    You can transfer your account by calling us on 0800 085 1968.

    Cashback on the first £10,000 of annual credit turnover

    Annual credit turnover

    Cashback best checking accounts for small business 2019 than £200,000

    Up to £100 per year



    £200 per year



    £300 per year

    Your credit turnover is any money paid into your account, except any credit interest we add to the account or money transferred from other Santander accounts also held in your business’s name. Cashback will be calculated annually on the same date the account was opened (or transferred to), or the first working day after this. Cashback will then be paid on the following working day. 

    If you switch your business current account to us using the Current Account Switch Service you’ll pay a reduced monthly fee of £5 per month the first 12 months. 

    At the end of the 12 month period, you’ll pay £12.50 per best checking accounts for small business 2019 can switch your business current account with any provider to us. You will receive a new account number, card and PIN.

    Current account <a href=glenview state bank review guarantee">

    For more information take a look at our switching support page

    1 2

    Best Banks for eCommerce Business

    Once you've decided you're starting an eCommerce business and have your eCommerce business license, you need to start looking at what bank you'll use.

    Not all banks are capable of keeping up with the fast-paced world of eCommerce.

    Download Our Free Starting eCommerce eBook

    You'll need to make sure that the bank you choose can help your business grow and give you the tools to succeed. It will also make eCommerce accounting much easier, since you'll know where your money is and how it's growing.

    We've put together a guide on the best bank accounts and banks for eCommerce businesses to help you make an informed choice.

    Best Bank Account for eCommerce Business

    There are many bank account options for eCommerce businesses, but a checking account ach fpb cr card the most important. We've put together a list of the five best free checking accounts available. There are many types of eCommerce businesses, so we ranked these accounts based on their overall value.

    Here's how we ranked them:

    eCommerce Bank Ranking Criteria
    • Cost. If you're running an eCommerce startup, you know that money can be tight. You don't want an account that costs you money every month just to keep it open.
    • Limits. Transaction limits, minimum balance requirements, and the inability to access your account on the go can hamper your buying power. Small eCommerce business owners are better served by accounts that help their business, not hamper them.
    • Features. Mobile bank apps are one of the best features for a small eCommerce business bank account. There are a few other useful features to look for as well, including transaction alerts, mobile deposits, and ACH transfer options.
    • Integration. Many accounts can actually be integrated into other services you use like Quickbooks, Stripe, and more. Though not necessary, this is a nice feature that can bring value to some eCommerce businesses.


    Novo is a much newer business banking solution but it was built specifically around mobile banking for small business owners. This means you won't run into any tech issues and it can be integrated into most online storefronts.

    The best thing about Novo is that all of its features are entirely free. This includes a Mastercard debit card, unlimited transactions, transaction alerts, and ATM refunds. Even better, it comes with Google Cloud credits and zero-cost processing from Stripe. If you come up with profitable eCommerce business ideas regularly, you definitely want an account that you can grow with. Whether you own your site or use an online marketplace, we think Novo is the best choice for you.

    2. NorthOne

    Like Novo, NorthOne is a modern banking solution for small businesses and freelancers. They offer an FDIC-insured business banking account with API connectivity to PayPal, Square, Quickbooks, and many other tools. Even better, it only takes three minutes to set up and for a flat fee of $10, you get unlimited transactions and no hidden fees.

    The best thing about NorthOne is the user-friendly mobile banking. For small businesses and entrepreneurs, this can make all the difference as you have access to your account and reports 24/7. You can even order extra debit cards for your team within the app!

    See the BlueCart Digital Storefront in Action

    3. Chase Business Complete Checking

    Unsurprisingly, one of the 10 largest banks in the world also has some of the best offerings for eCommerce businesses. Chase Business Complete (formerly Chase Total Business) is the perfect all-in-one account for a small- to mid-sized business.

    In addition to a slew of incentives they offer for opening an account, they've also got a pretty robust mobile app. It also comes with all the typical offerings like an extensive ATM network, debit cards, ACH transfers, and mobile depositing. That way you'll always be able to accept an eCommerce payment.

    The only real drawback to the Chase Business Complete Checking account is that it has a monthly fee. This fee of $12 is waived as long as there is $1,500 in the account regularly.

    Still, the benefits far outweigh this potential cost. If you come up with profitable eCommerce business ideas regularly, you definitely want an account that you can grow with.

    4. TIAA Small Business Checking

    The second of the larger banks on our list is TIAA Bank. Their Small Business Checking is a great option for small eCommerce businesses that want a long-term banking option. It has no monthly fees, ATM reimbursement, and convenient mobile check deposits.

    One drawback of this account is that it requires $1,500 to open, which may be tough for a startup. That being said, it also offers an APY of 1.21% for the first year, which is higher than many savings accounts. If you have the capital and expect to grow quickly, this is a very good account option.

    5. Axos Small Business Banking

    The oldest online bank in the U.S., Axos is built conveniently to serve eCommerce businesses. There are no physical locations, but your money can be accessed from any ATM in the U.S. and fees will be reimbursed. Accounts are also free to open and have no minimum balance requirements. New business owners can even get $100 when opening an account.

    The negatives for Axos are that you are limited to 200 free transactions per month, after which you're charged $0.30 per transaction. They also don't offer credit cards and customer support hours are not always convenient.

    Best eCommerce Bank

    Choosing a bank for your eCommerce business can be complicated, so we've broken it out into a few categories that you may fall under. Unlike our list of checking accounts, here we're looking at banks with a narrow lens.

    Here are the best banks:

    Best Overall Bank for Small eCommerce Businesses: Chase

    Not only did Chase top our list of checking accounts, but they're the best option for small businesses. With more than 5,000 locations and 16,000 ATMs across the globe, you'll always have physical and digital access to your accounts. They also have multiple tiers of business accounts so you can grow and stay with the same bank.

    One of the best aspects of Chase is that they offer small business loans ranging from $10,000-$50,000. This capital may be vital in taking your business to the next glenview state bank review. Their credit card offerings are also some of the best on the market.

    Best Credit Union for eCommerce Businesses: America First Credit Union

    America First Credit Union is a Utah-based credit union with a number of co-operative banking agreements. These let its members access their accounts through more than 30,000 ATMs in the U.S. They also have a robust business loan program and offer a dedicated business credit card. It has multiple business checking account options and can assist with payroll, business

    Unfortunately, like many credit unions, America First only operates in a handful of states. Luckily, If your business is in one of them, then you could do much worse.

    Best for SBA Loans: Wells Fargo

    Another prominent bank, Wells Fargo has a very strong set of offerings for small businesses. In 2019, they lent more than $140 million to small businesses. Even better, their average loan size is around $80,000.

    That means you don't have to be in need of an astronomical sum to get approved. They are a bit more traditional than some other banks on this list, but their customer service, number of locations, and financing options make up for it.

    Best Sign Up Perks: Bank of America

    Another big name in banking, Bank of America has some great incentives for small eCommerce businesses. They have multiple options for cashback when opening an account, getting a business card, and even spending. They also have locations all over the country so you can easily find a branch if you need to do some in-person banking.

    Unfortunately, unlike Chase, Best checking accounts for small business 2019 of America doesn't offer unlimited free transactions. They also limit the number of free cash deposits. If you're looking to open a second business account or wells fargo bank hours dallas tx be depositing money too often, this may be a great option.

    Download Our Free Starting eCommerce eBook

    Show Me the Money!

    A business without a bank account is like a house without walls. It might function, but it's not going to be enjoyable. You need to make sure your money is protected and working for you. Pick the bank and account options that best match your company's needs and growth goals.

    If you're a very thorough planner, try to include this information in your eCommerce business plan template. This will signal to investors that you have a good financial plan and keep you focused. You should also make sure to pick up some eCommerce business insurance. You don't want to end up draining that new bank account on lawsuits.

    We also recommend picking up some eCommerce books and reading an eCommerce blog or two so you can learn about the current trends and continue to grow your business and fill up that new bank account.

    Frequently Asked Questions About eCommerce Banking

    Though eCommerce banking has similarities to personal banking, there are key differences to be aware of. If you’re doing business banking for the first time, best checking accounts for small business 2019 likely asking a few common questions. Check out our answers to these frequently asked questions below: 

    Do I need a business bank account for eCommerce?

    Yes, you should set up a business bank account for your eCommerce venture. There are multiple benefits to keeping your business transactions separate from personal ones. 

    One, it simplifies accounting because you don’t need to separate personal purchases. Two, it’s much easier to assign expenses to specific accounts on a monthly basis. Three, your business taxes and fees are kept separate from personal income. This offers peace of mind for all of your financial accounts. 

    How much does it cost to open a business account?

    Every business’s policies vary, but most banks will let you open a business checking account for $25-100. This isn’t a fee you pay to begin banking with the company, but a minimum balance required to open your account. 

    Some businesses require a minimum daily balance of $1,000 or more, though this depends on what bank you use and their requirements. When opening a business account, review their terms carefully and make sure it’s a bank that works for your needs. If you have specific questions, contact one of their business representatives. 

    What do I need to bring to open a business bank account?

    There are several documents to bring when opening a business bank account, including the following: 

    • Employer identification number (EIN) or federal tax ID (FTID)
    • Articles of organization or incorporation (depending on business type)
    • Personal identification, including driver’s license and social security card
    • eCommerce, retail, and/or manufacturer’s license
    • Your Doing Business As or certificate of assumed name
    • Ownership agreements (who owns what and what amount in the business)
    • Current monthly business revenue

    Your bank uses this information to keep accurate records and to simplify the sharing of information during tax season.

    All offers, interest rates, and conditions are as of this writing and may have changed. Check with the respective bank for current details.


    What Is the Difference Between a Small Business Account & a Regular Checking Best checking accounts for small business 2019 you start accepting payments for your business it's important to first establish a small business checking account. This account allows you to separate your personal funds from the money you take in and send out on behalf of your business. Though business and personal checking accounts have similar attributes, there are a few key differences to consider.


    An owner needs to submit additional information to sign up for a business checking account, including business registration paperwork and proof that the business has an employer identification number (not always necessary). In addition, the business account lists the name of the business in addition to the owner's name unlike a personal checking account, which only lists the individual's name.

    The Main Purpose of a Checking Account

    A checking account is one of a few different types of bank accounts available to individuals and businesses. Unlike a savings, Individual Retirement Account, or certificate of deposit account, users can write checks or process electronic check payments from the account. A checking account is best reserved for paying bills and expenses or making regular withdrawals for personal or business needs.

    Features Included with glenview state bank review Checking Account

    When opening a checking account, you commonly receive a set of checks and a debit card that allows you to access your funds immediately. Some banks also offer online banking features so that you can manage your balance and set up automatic payments from your checking account. Some checking accounts also come with overdraft protection features that allow a check or payment to go through even what is a trust company funds aren't currently available in the account.

    Differences Between a Business and Personal Account

    Although business and personal checking account are structured in the same way and often offers the same features, there are a few key differences to consider. Best checking accounts for small business 2019 one, an owner needs to submit additional information to sign up for a business checking account, including business registration paperwork and proof that the business has an employer identification number (not always necessary). In addition, the business account lists the name of the business in addition to the owner's name unlike a personal checking account, which only lists the individual's name.

    Also, some banks require the small business owner to maintain a certain balance in the account on an ongoing basis to avoid maintenance fees. The fees associated with a business checking account tend to be more expensive compared to a regular checking account.

    Things to Consider

    A business owner is not always required to establish a business checking account. For example, a sole proprietorship owner can choose to use his own individual checking account to conduct business; he has to ask customers to pay him in his own name. This isn't always the best strategy, however, because it's difficult to separate business from personal first commonwealth credit union when you use the same account.

    Added Benefits of a Separate Business Account

    If you're thinking about whether it's necessary to establish a separate business checking account for your business, consider the benefits. For one, your customers might feel more comfortable writing a check to a business instead of a person; giving a business name for the payee name is more professional. Also, establishing a separate business checking account can also help build up your business' credit rating, which is different from the owner's personal rating.


    Writer Bio

    Louise Balle has been writing Web articles since 2004, covering everything from business promotion to topics on beauty. Her work can be found on various websites. She has a small-business background and experience as a layout and graphics designer for Web and book projects.


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