The Radius Bank Alternative, Zil.US, offers online business checking accounts to manage business payments efficiently. In this blog, let us see how home inspection companies can benefit from fee-free checking accounts and multiple payment options.
The growing real estate market fuels the demand for home inspections. Therefore, many home inspection companies are emerging in the U.S. market, with an estimated market size of $3 billion. To ensure a smooth business functioning, a home inspection company may have to make payments to various entities. These can include contractors, employees, marketing agencies, specialized technology providers, suppliers, legal services, etc. If you own a home inspection company, you might be using a traditional business checking account to manage all these payments. Though familiar, a traditional business checking account often lacks the features that help a service-based business like a home inspection company.
- Limited Payment Tracking Capabilities: Home inspection companies handling multiple clients and payments can find it difficult to track individual transactions when using traditional checking accounts. This is because traditional checking accounts offer only limited support for tracking, leading to disorganized finances.
- Transaction Limits And Fees: Traditional checking accounts usually come with transaction limits. For a high-transaction business like a home inspection company, these transaction limits can easily lead to associated charges, draining their accounts. Also, there will be initial fees and maintenance fees, which can be small but add up quickly.
- Certain Requirements: When you open a traditional checking account, there can be minimum deposit or minimum balance requirements. If you fail to fulfill these requirements, you might end up paying penalties.
Therefore, utilize Zil.US for an effective solution for all these hassles associated with traditional checking accounts.
Easily Open Fee-Free Checking Accounts
With Zil.US, home inspection companies can easily open a fee-free checking account. The business checking accounts on the cloud-based platform have no initial fees, maintenance fees, or any hidden fees. By avoiding the fees that reduce the account balances, the platform helps businesses like home inspection companies maintain their cash flow. This means funds can be allocated for the company’s growth without worrying about account maintenance costs.
Also, the platform does not demand minimum deposit or balance requirements. When you have a fluctuating income, the platform’s online checking account is a real savior. You may send and receive payments easily, as well as track all your payments on the platform.
Multiple Checking Accounts for Different Purposes
Home inspection companies may need to open multiple checking accounts to allocate funds for taxes, payroll, operating costs, and savings. By separating accounts, you can reduce exposure to fraud and easily monitor your finances. You can also improve your budgeting and financial planning with multiple accounts.
Even though you can open multiple checking accounts in a traditional financial institution, their maintenance fees and other fees can easily drain your account. To save yourself from this situation, open multiple checking accounts on Zil.US for easy financial management. As you can open multiple accounts on the platform without any fees, this can be a great benefit. You can easily monitor and handle transactions when you open multiple accounts on the cloud-based platform.
Simplify Payments with the All-In-One Solution
Utilize Zil.US for an all-in-one payment solution for your home inspection company. The cloud-based platform offers multiple payment methods like ACH, wire transfers, and virtual cards.
ACH Payments: Make payments easy, secure, and affordable with the platform’s ACH transfer. You can make one-time or recurring ACH payments on the platform. A standard ACH usually takes 1-3 business days to get processed; if your payments are urgent, utilize the same-day ACH feature. When you use same-day ACH, the payments are initiated on the same day and usually settled within the next business day.
Wire Transfer: For quick and secure electronic payments, wire transfer is the best option. The cloud-based platform offers domestic and international wire transfers. To make a domestic wire transfer, you will need routing and account numbers. However, for international wire transfers, you will need a SWIFT/IBAN code. Usually, wire transfers take only a few hours or days to complete transactions, depending on the location at which it is being sent. As a house inspection company, you might have large transactions to make. Wire transfers are an ideal solution for quickly and securely transferring large payments.
Virtual Cards: You can easily manage different expenses by providing virtual cards to your employees. Virtual cards function just like physical cards but are more convenient. This is because you do not have to worry about the card getting stolen or lost. You can get unlimited virtual cards on the cloud-based platform. These virtual cards can be easily shared among your employees with a few clicks. You may set spending limits on each card and monitor your business expenses effectively. If you find any suspicious activity, you can immediately freeze or block the cards.
The Conclusion
Home inspection companies can utilize fee-free checking accounts from the Radius Bank alternative, Zil.US, to better manage their finances. The cloud-based platform allows you to open multiple checking accounts for different purposes. With these accounts, you can manage finances efficiently, reduce costs as well as utilize funds for the growth of your business.
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