When evaluating commercial banks for business banking, shop around and carefully review all the different service offerings available.
Some important considerations:
Look for accounts with low to no monthly fee
If there’s a monthly fee, what are the options to waive the monthly fee?
What’s the number of free or included deposit/withdrawal transactions per month and the type of transactions included?
What’s the policy and limit for cash deposits?
Are incoming and outgoing ACH/wires free?
Does the account offer free checks?
Is mobile and/or remote deposit available/included?
Is online bill pay available/included?
How do you access monthly statements?
Is the online banking system available via web & mobile?
Does the account include a banking card (debit/ATM card)?
Ask for a fee schedule covering all banking services available with the account