In this blog, let us see how the Mercury Bank alternative, Zil.US helps your small handyman service to manage finances efficiently.
The rise in dual-income households and busy lifestyles have led to the increased growth of handyman services for various home improvement tasks. Being a handyman, you are the go-to person for repairs and improvements that make homes and businesses better. Whether repairing a leaky faucet, painting a room, or assembling furniture, your work makes life easier for your clients. However, running a small handyman service is more than just repairs; it is about managing your business smoothly.
One of the important things in managing your business is keeping your money organized. As your small business grows, you will have more payments to collect and bills to pay. For this, you will need a business checking account. However, using a business checking account from a traditional financial institution can come with certain hassles.
Hassles of Using Traditional Business Checking Account
High Fees and Minimum Balance Requirements:
To open an account in a traditional financial institution, you have to pay certain fees. These include initial fees, transaction fees, maintenance fees, and also fees for falling below a minimum balance. All these fees can quickly add up, draining your account.
Limited Access and Convenience:
As traditional institutions are restricted to banking hours, you cannot make payments or deposit money anytime. Also, you need to visit these institutions in person for every task. All these can be very inconvenient, especially in the middle of handling your business operation.
Hidden Fees:
Traditional financial institutions often have hidden fees for services like wire transfers, overdrafts, or additional transactions beyond a set limit. All these can be a surprise if you did not read the fine print.
Switch to Online Checking Accounts
You may eliminate the hassles of traditional checking accounts by opening an online checking account. These accounts offer a convenient digital alternative to keeping your money in a brick-and-mortar financial institution. You may access an online checking account from your computer or mobile phone anytime. This way, you can pay bills, deposit money, and check your balance without the restriction of banking hours or physical location.
With Zil.US, you can easily get a fee-free business checking account. The platform is a savior for your small handyman service, especially when you have an unstable income. To open a checking account on the cloud-based platform, you need not pay any initial fees, maintenance fees, or any other hidden charges. Also, there are no requirements such as putting in a minimum deposit or keeping a minimum balance in your account. Therefore, using the online checking accounts on the platform manage your finances even in your busy schedule.
Easily Open Multiple Checking Accounts
Keeping finances well-organized is something that every business should do to run smoothly. This is because as your small business grows, finances can get complicated, and it will become difficult to handle. So, you have to open multiple business checking accounts to handle various purposes. This can include handling vendor payments, managing employee wages, covering operational expenses, and money for taxes. For all these purposes, opening multiple accounts in traditional financial institutions cannot be a good idea. Their various fees and requirements can easily drain your finances.
Therefore, open multiple checking accounts on Zil.US and manage your finances efficiently. You may dedicate each account for various purposes. This way, you will be able to track and organize your expenses and income very easily. With this, you will get an idea about your current financial situation, which will help you in your financial planning.
Easily Pay Your Vendors and Employees on Time
Multiple payment options such as ACH, wire transfer, and virtual cards are available on Zil.US. You may choose the one you need and make payments on time.
Pay via ACH:
ACH transfers are a kind of electronic payment, which is overseen by NACHA. The cloud-based platform is an official NACHA member, making ACH transfers easy and secure. It is one of the most convenient ways to make payments to your vendors or employees on time. You may set up one-time or recurring payments via ACH on the platform. Setting up recurring ACH on the platform is the best option for routine payments. This is because you do not have to go through the hassle of missing out payments.
Pay via Wire Transfer:
When you have to make a bulk inventory purchase, your supplier might demand a wire transfer for these large payments. This is because wire transfers are one of the best ways to settle large payments due to their speed and reliability. Using the cloud-based platform, you may easily send payments via wire transfers. Domestic and international wire transfers are available on the platform. When you send domestic wire transfers using the platform, the payments will usually be cleared within a few hours. International wire transfers usually take only a few days to clear.
Pay via Virtual Cards:
You can use virtual cards on the cloud-based platform to make quick and secure online purchases. With these cards, you may easily customize spending limits to avoid overspending and stay within budget. Create multiple virtual cards on a single account for various purposes. If you find any suspicious activity, you may immediately freeze or block the cards with a few clicks.
The Conclusion
As a small handyman service, you can easily manage your finances with the Mercury bank alternative, Zil.US. The platform offers online checking accounts which helps in handling funds easily. You may open multiple accounts on the platform and utilize the various payment options available to easily manage your finances.
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