A business bank account is intricately linked to the state of your business’s financial operations. So, whether you are an up-and-coming business owner or you’ve been in the game for years, setting up a proper business bank account is essential and should be amongst your top priorities. Nevertheless, It is easy to go wrong here, especially if you are not well informed financially. However, with knowledge about the best business bank accounts for LLC, you can easily avoid making blind decisions and get your business closer to financial liberation.
No matter its purpose or size, every organization or venture needs a business bank account that complements its operations. Moreover, regulations and specific legal statutes require businesses and enterprises to have a bank account to facilitate tax reporting, investigations, and so on, should the need arise.
However, it is essential to know that there is no single best business bank account; instead, you need a business bank account that can fully cater to your financial needs. In addition, it can vary according to your business’ nature, size, and complexity.
Nevertheless, you should look out for certain standard features when you want to choose the best business bank account for you. We’ve gone through these offerings, and here are some of the best bank accounts for LLC in 2022.
Chase Business Complete Checking Account
Chase’s complete checking account is a premium service that offers a business bank account tailored to your business venture. Business owners can earn as much as a $300 deposit bonus and rewards from credit cards. In addition, a Chase business account guarantees unlimited transactions – electronic deposits, withdrawals, and transfers.
LendingClub Tailored Checking
LendingClub’s tailored checking business account offers FDIC insurance for users’ assets in case of bank failure. There are unlimited zero transaction fees charges and
ATM surcharge rebates. Users can also passively earn income with the 0.10% interest rate for deposits below $5,000.
Wells Fargo Navigate Business Checking Account
The Wells Fargo business bank account allows users to perform many monthly transactions. With its incentive program for cashback and charge-free for the first 250 transactions and $20,000 cash deposit, the business bank account is perfect for depositing cash. It, however, requires a minimum balance of $25 and $0.5 per transaction that exceeds users’ monthly limit.
Axos Basic Business Checking Account
Axos basic business checking account could potentially be one of the best business bank accounts for LLC. It is an online digital business bank account with very limited account restrictions ranging from zero dollar minimum balance, zero transaction fees, unlimited number of debit, credit, deposit transactions, and unlimited ATM fee reimbursement.