Facts About Which Bank Is Best For Business Accounts

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There are many banks competing for your business in the field of personal banking. With so many choices, you may be wondering which bank will work best for your business account. We have compiled an easy list of facts about which bank is most commonly used by businesses. Remember, all options come with pros and cons — what works best is a decision that comes from your particular situation. Which Bank Is Best For Business Accounts ? We’ve compiled a list of facts about which bank is most commonly used by businesses of all sizes.

We recommend that you check with your accountant, lawyer, or an expert in the field to find out which bank is best for your particular situation.

The first thing that you may notice is that all of the banks we have listed in this article are online-only banks. This means that they offer no brick and mortar banking services. Online-only banks provide higher rates of interest on balances because they pay monthly on a balance that’s less than $250,000. With one exception, they also allow you to earn rewards points and use them towards trips or merchandise such as standing desks.

Bank of America

Bank of America is the largest part of the financial conglomerate with over 68,000 employees worldwide. It’s a major credit card issuer, but they also make investments and offer banking services to customers.

Wells Fargo

Wells Fargo claims to be partly owned by you and 25 million other professionals who are interested in banking services. They offer checking and savings accounts (with some fees), investment products such as retirement accounts and credit cards. In addition, they provide consumer loans and mortgage lending, small business loans, and private wealth services such as trust planning for high net worth individuals (over $1 million).

Chase Bank

Chase offers personal and business accounts, savings, investments and credit products. They are best known for offering the Chase Freedom Visa card with rotating 5% cash back categories. Consumers have reported that they have difficulty getting through to a live person on the phone. We’ve had some reports that they charge off credit card accounts when people fall behind in payments (even if it’s only by a dollar or two).

CitiBank

Citibank is the third largest bank holding company in the United States with 214 billion USD of capital. They offer many types of accounts, including savings, checking, investment and credit cards.

PNC Bank

PNC offers many financial services including checking and savings accounts, money market accounts, CDs and a variety of loan products. They are also one of the largest mutual fund companies in the world with over 292 billion USD in assets under management. PNC is noted for the amount of time it takes to close an account (over 1 year).

Capital One Bank

Capital One is a banking company founded in 1852 with $378 billion USD invested in capital markets (over 40% of which is represented by external funds from institutional investors). They specialize in offering credit products through their website, mobile app or by phone.

American Express Bank

American Express claims to be a global bank that provides financial services to 47 million customers (including small business owners) worldwide. They offer checking and savings accounts, credit cards, personal loans and mortgages. Declining a customer with American Express because of outstanding debt on another account is not allowed. In addition, they offer investment services such as mutual funds and annuities. Protection plans are also available for both consumers and businesses on all accounts opened in the United States.

TIAA Bank

TIAA Bank is a financial company for individuals, families and businesses with over 50 million customers worldwide. When it comes to personal banking, they offer checking and savings accounts, credit cards, IRA accounts, student loan services and insurance offerings. For businesses of all sizes they offer business accounts and loans. They also offer investment products including stocks & bonds. We have heard that they are one of the few banks to only remove the interest rate on the debt owed to them when a customer closes an account —This is a nice benefit for people who want to get rid of their old interest rate debts!

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