DECEMBER - FEBRUARY9into the right account ­ and our service is aimed at keeping you there.During your meeting with a business banker, be sure to discuss the features, fees and costs of different accounts. These can include:· Interest rates for savings and checking accounts.· Interest rates on lines of credit.· Transaction fees and limits.· Minimum balance fees.· Merchant account options.· Payment processing and cash management options.Be aware of minimum balance requirements and how they can affect those costs. It's also important to consider the unique needs of your business. For example, an online-only business where debit and credit are the only means of payment will have different requirements than a brick-and-mortar that requires frequent cash deposits or withdrawals for business use. Depending on the nature of your business, you'll want to discuss your needs in detail to avoid selecting the wrong account.A business account can also combine the features of making and receiving payments, provide easy access to online and mobile banking, build credit and assist with setting up a plan for savings. Making and receiving payments allows you to have your hard-earned money deposited directly into your accounts, which you can then closely monitor and control via online or mobile banking. Plus, additional merchant services and payment processing have become so important to financial success.Online and mobile banking features will give you access to mobile deposits or remote deposit capture that let you get money in the bank 24 hours a day, 7 days a week at your convenience. You'll also be able to transfer money, check balances, get email and text alerts, and control which employees have access to electronic banking features.Building a business banking relationship can help when it comes to credit needs as well. Will you need a credit card, a line of credit or a small business loan? Maybe you aren't sure at this point in the game, but consider these possibilities when looking for the right place to do your business banking, as most banks have special offers or rates available to current customers. This also pertains to setting up a business savings account, since some banks offer higher rates to customers with more than one account type. As always, ask questions specific to your business. With savings especially, look for competitive interest rates and daily balance requirements to find the best match for your saving goals.Take the time to consider all your possible needs before committing to a financial institution to ensure that what they have to offer is what you're looking for. We're always here to help with your banking needs and provide direction on how our unique services can simplify your business. We would love to help your business ­ and your revenue ­ grow! BCHaving a separate business banking account provides a foundation for more financial stability and assists in keeping your key business tasks in order
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