View account guide for more details: TD Business Simple Checking, TD Business Convenience Checking Plus, TD Business Premier Checking and TD Business Interest Checking Plus. Show
1Refer to the Business Deposit Account Agreement for details. 2For non-TD Bank, N.A. ATM transactions, the institution that owns the terminal (or the network) may assess a surcharge at the time of your transaction, including balance inquiries. 3TD Business Convenience Checking Plus combined balances includes balances from the TD Business Convenience Checking Plus account and one TD personal checking product. The following personal checking products are excluded: Health Savings Accounts and TD Simply Free Checking. Please see your Business Deposit Account Agreement for more details. 4Non-profit customers are eligible for waiver of the monthly maintenance fee. 5Business Convenience Checking in-store cash deposits up to $5,000 per statement cycle and $0.25 per $100 deposited thereafter. 6Business Simple Checking in-store cash deposits up to $5,000 per statement cycle and $0.25 per $100 deposited thereafter. 7Data as of March 2018. Comparison of longest average store hours in the regions (MSAs) in which TD Bank operates compared to major banks. Major banks include our top 20 national competitors by MSA, our top five competitors in store share by MSA and any bank with greater or equal store share than TD Bank in the MSA. Major banks do not include banks that operate in retail stores such as grocery stores, or banks that do not fall in an MSA. 8The TD Bank Mobile App is free to download, however, standard wireless carrier message and data rates may apply. Text "Stop" to quit or "Help" for more information. TD Bank Mobile Deposit is available to business customers with an active checking, savings or money market account. Available for most iPhone® and Android™ devices. Other restrictions may apply. Please refer to the Mobile Deposit Addendum. 9Fees may apply for optional services. For merchants with a TD Bank settlement account and TD Bank’s standard payment processing setup, funds will be available in the settlement account by 2 PM ET on the next business day. Availability may vary based on merchant-selected payment processing gateway and other chosen services, including but not limited to, the use of non-TD Bank settlement account. Additional restrictions apply. Please consult your Business Account Agreement for details. See the TD Bank, N.A. Member Merchant Agreement for Applicable Merchant Processing Fees and Assessments. Subject to credit approval. Visit https://www.tdbank.com/merchantsolutionsoffer/ for promotion details. Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Your business checking account serves as a home base for your business finances. It’s a place where you can receive payments from clients, deposit checks and cash, pay invoices and manage your business transactions and cash flow. Bank of America, the second largest U.S. bank by assets, offers business checking accounts for small business owners, with a range of account features and perks to suit your business needs. Here is a closer look at the Bank of America Business Advantage Fundamentals Banking account and how it can help your small business grow. Account BasicsBank of America’s primary small business checking account is its Business Advantage Fundamentals Banking account. This checking account is designed for small businesses that need essential business banking features and flexible account tools at a low monthly cost. Key elements of the Business Advantage Fundamentals Banking account include:
In addition to these core features of your business checking account, Bank of America provides a few additional perks and optional add-ons, depending on your needs:
Bank of America charges a monthly fee of $16 for its Business Advantage Fundamentals Banking account. You can reduce this fee to $0 by doing any one of the following actions:
Bank of America also offers Business Advantage Relationship Banking, which provides additional services for larger companies that have a higher volume of business and larger monthly deposit amounts and that need more complex business banking services, such as merchant services and payroll support. As your business grows, you can talk with the bank about expanding or changing to this business checking account. Business Advantage Relationship Banking has a $29.95 or $0 monthly fee and includes for $0 some additional services for which you would have been asked to pay a separate fee with the basic Fundamentals account. Distinguishing FeaturesBank of America Business Advantage business checking offers powerful digital tools for managing your business’s needs, including Erica, Bank of America’s virtual assistant. With Business Advantage Banking, you also have access to:
Access on the GoThe Bank of America mobile app is very well rated, earning 4.8 stars out of 5 on the App Store and 4.7 out of 5 on Google Play. The app offers a comprehensive range of features for managing your business checking account. Using the app, you can:
Bank of America has locations in 37 states plus the District of Columbia, with 17,000 ATMs and approximately 4,300 retail financial centers, 2,900 lending centers and 2,300 business centers. There is no fee for transactions at Bank of America ATMs. For non-Bank of America ATMs, there is a $2.50 fee in the U.S. and $5.00 in foreign countries. Bank of America also has a significant international presence, with operations in 35 countries throughout Africa and the Middle East, the Americas, Asia Pacific and Europe. If you need general customer service support for your Bank of America business checking account, call customer service at 888-BUSINESS (888-287-4637), available Monday through Friday, 7 a.m.–11 p.m. ET, and Saturday, 8 a.m.–8 p.m. ET. If you have specific questions about other business banking services like remote deposit or online banking, you can call additional dedicated service lines. Pros
Cons
How Bank of America Stacks UpBank of America offers two attractive business checking accounts that provide the essential banking features that you would expect from a major bank. Plus, it provides some added value in the form of special tools like Cash Flow Monitor and Connected Apps. Being able to send and receive payments via Zelle—with no fees, instantly from the mobile app—could make a big difference for small business owners who want to accept mobile payments without the costs and complexity of a larger merchant services account, and without paying transaction fees to a third-party payment processor. Bank of America has a massive nationwide footprint, with locations in 37 states plus Washington, D.C., 17,000 ATMs and thousands of brick-and-mortar locations, in case you need to talk with a loan officer or otherwise do in-person banking for your business. The bank’s significant global presence, in 35 other countries worldwide, may also add value for small business owners that do business internationally. Getting started with a business checking account is often the beginning of a larger banking relationship. Bank of America’s Business Advantage Fundamentals Banking account provides a solid business checking foundation with versatile features. Bank of America also offers a wide variety of additional business banking features, including savings accounts, business management tools and services, credit cards, lending and retirement solutions from Merrill Edge. Find The Best Checking Accounts Of 2022Frequently Asked Questions (FAQs)Is Bank of America FDIC insured?Yes, Bank of America is FDIC insured (FDIC# 3510). When you deposit money into an FDIC-insured account at Bank of America, your money is protected in the event of bank failure in the amount of up to $250,000 per depositor, for each account ownership category. Does Bank of America offer small business loans?Yes, Bank of America offers a full range of small business financing options, including SBA loans, unsecured business lines of credit, business term loans, secured loans, equipment loans, business auto loans and more. Does Bank of America offer overdraft protection for business checking accounts?Yes. You can get overdraft protection for your business checking account by signing up for and linking additional Bank of America business accounts, such as a Business Investment Account (savings account) or business credit card. Overdraft protection fees will vary depending on the account. What is the fee for Bank of America checking account?We'll charge this fee for each item over $1 that we authorize and pay, including recurring debit card payments. However, we won't charge this fee if your account balance is overdrawn by $1 or less.
...
Smart money management tools.. What Bank doesn't charge monthly fees for a business account?Axos Bank® Basic Business Checking
The free online business account has no monthly fee or minimum opening deposit requirement, delivers 24/7 customer support and offers free nationwide ATM access with unlimited refunds for fees charged by other banks and ATM operators in the U.S.
How do I avoid monthly fees with Bank of America?Withdrawal Limit Fee. No monthly maintenance fee for each statement cycle that you:. Maintain a minimum daily balance of at least $500.. Link your Bank of America Advantage Savings account to your Bank of America Advantage Relationship Banking® account (waiver applies to first 4 savings accounts). How much does Bank charge for business account?It can be $8 to $30 a month. If you meet a certain balance requirement or spend over a specific amount each month on the bank's debit or credit card, this fee is often waived. Some online banks don't charge a monthly fee for their business checking accounts.
|
Bank of america small business checking account fees
Related Posts
Copyright © 2024 ihoctot Inc.
