If you are a small business owner and have yet to separate your personal and business checking accounts, now may be the perfect time to do so. Separate accounts offer many benefits like a simpler way to control finances and extra protection for your personal assets.
Here are a few factors to consider when choosing an account for your business:
• Expenses: Some accounts come with no maintenance fees while others require you to stay within specific parameters to avoid additional charges.
If you’re ready for an easy way to maintain your company’s finances, consider one of United Community Bank’s hassle-free business accounts. Minimum opening deposit for all three is only $100 and all options come with access to convenient services such as text banking, fraud protection, and treasury management services.
• United’s Business Freedom Checking account features a no-strings-attached, $0 monthly service charge. You are allowed a monthly limit of 250 items and up to $10,000 in monthly cash deposits.
• United’s Business Select Checking account is available for those with higher transaction activities. The small $12.50 monthly maintenance fee can be waived and a monthly item limit of up to 500 is allotted before being charged a fee. This account is also ideal for those who rely heavily on cash transactions, as there is an unlimited number of monthly cash deposits.
• If you average more than 500 monthly items and maintain $150,000 or more in average deposit balances, consider United’s Business Analysis Checking account. There is a $25 monthly service charge, however many of the additional fees associated with this account can be offset by earning credit, or accrued soft interest.
To learn more about United Community Bank’s business checking accounts, stop by and speak with a team member at our Snellville branch, located at 2168 Scenic Highway North. After answering just two questions we will be able to pair you with the perfect account that will support the needs of you and your business.