Best Small Business Bank Account for all Your Business Finances Needs

Jan 9, 2023 | Checking Account

Zil is a financial technology company, not a bank or an FDIC member. Zil offers banking services through partnership with FDIC member banks Silicon Valley Bank and Texas National Bank.

As a small business owner, finding a small business bank account right for your business purposes can be hard. No one wants to do business with a bank that does not recognize the value of their company. Open an account with Zil, the online platform that offers one of the best small business banking accounts available.

 Zil is a cloud-based banking platform that offers free checking accounts and the best online banking experience to Small and Medium-Sized Businesses (SMEs). Using Zil, businesses can instantly transfer funds via ACH (Automated Clearing House), wire, eChecks, and RTP. In addition, the business checking account offered by Zil includes free check drafts, checks by mail, eChecks, and invoices.

Business Bank Account

One of the first things you should do when starting a business is open a small business bank account. In many ways, this differs from a personal account. To begin, you’ll need official documentation demonstrating the legality of your company, like a business license or articles of incorporation. You can accept payments for your goods or services and pay your business expenses once your account is open. Your account can also be used to track your income and expenses, which can be useful. A business bank account is essential for organizing your finances, whether you’re just starting or have been in business for years. And with Zil, you can be confident that your account is secure.

Best Free Checking Account for Small Businesses  

Small businesses can open a checking account with Zil for free. The online platform is easy to use and with:

  • No minimum balance.
  • No accounts cost.
  • No monthly fees required.

What is a Checking Account? 

A checking account is a deposit account held at a bank or other financial institution that allows the account holder to make deposits and withdrawals.

Checking accounts are more liquid than other accounts, such as savings or investment accounts, because they allow for larger deposits and withdrawals. Checking accounts do not pay much if any, interest to their owners as a trade-off for the increased liquidity they provide.

Choose the Right Bank

When opening an account, it is critical to select the bank carefully. Banks that do not charge maintenance fees may have hidden fees, so be cautious when choosing a bank account. An online bank will not charge any fees because they do not have physical branches, and opening a checking account with them is less likely to require a deposit. The online bank does not charge fees because it has no overhead costs. The money they save by not having to pay for electricity and maintenance is returned to customers through higher interest rates or lower fees.

In addition to having physical branches that are easy to get to and use, traditional banks can offer a wide range of financial services. Most of the money that traditional banks make comes from bank fees and minimum deposit requirements. This covers their operating expenses and provides funds for mortgage lending.

If you want a free checking account with no hidden or maintenance fees, our platform Zil is ideal for you; with all these benefits, why not open an account at Zil?

Things to consider while looking for the best bank accounts for business

  • Monthly fees.
  • ATM fees.
  •  Minimum balance requirements.
  • Types of accounts.

Benefits of opening the best bank account for business

You can simplify your life by opening a business bank account. Here are a few explanations:

  • Protect your personal finances.
  • Avoid tax related issues.
  • Cash Management.
  • Helps You Stay Organized.

When Should a Small Business Open a Business Bank Account?

Before you start receiving payments for the products or services your company provides is the ideal time to set up a bank account for your company. In most cases, a business bank account will be established upon the company’s incorporation. Before getting a tax identification number and a business license, a company cannot open a bank account in its name.

Zil is the optimal solution if you’re looking for a convenient and inexpensive banking experience. Businesses can easily manage their finances with our free checking account and a variety of payment methods. If you are looking for the best small business bank account for your business purposes, then Zil got your back. What are you waiting for, then? Open an account at Zil today and enjoy all the features!

Get in Touch

(408) 775-7720

Make a call directly with our customer support team to make it instantly.

Mail to us to solve any queries you have with Zil.

111 N Market St, San Jose, CA 95113

Po Box 6543, Tyler TX 75711

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