For small businesses, business savings accounts can help to save funds while earning interest in the process. Through these accounts, businesses can also transfer funds and make withdrawals.
Finding the right business savings account can be a tough process with seemingly unlimited options. It’s important to understand the APY, fees, and other features of leading accounts. Business Bank Guide has compiled the key features and costs of leading business savings account options to make your search simple. From well-known options to online banks, this guide will help you find the perfect savings account for your business.
5/5
- 0.50% APY on balances starting at just 1 cent.
- No monthly maintenance fees.
- Easy-to-use mobile app.
- Six free withdrawals per month ($10 per withdrawals after).
- Transfer funds via ACH transfer, mailed check, wire deposit, or mobile check deposit.
4/5
- 0.20% APY with a $1,000 minimum opening deposit.
- $5 monthly maintenance fee waived with an average daily balance of $2,500.
- Six free withdrawals per month. Additional withdrawals cost $10.
- Twenty fee-free transactions per month including debits and credits.
4/5
- 0.20% APY for first 12 months.
- $3 monthly maintenance fee, waived if balance stays above $300.
- Minimum balance of $250 to open the account.
- Business checking accounts are also available for account holders.
4/5
- The TAB Business Money Market Account offers a 0.25% APY.
- Minimum opening deposit requirement of $25.
- Account starts earning interest with minimum balance of $1.
- No monthly fees.
- Six free withdrawals every month; $20 fee thereafter.
- Account includes checks and an ATM card.
3/5
- 0.05% APY.
- Requires minimum balance of 1 cent to earn interest.
- No monthly fees and no minimum opening deposit.
- No transaction fees, no overdraft or non-sufficient funds fees.
- Fee-free withdrawals at 34,000 in-network ATMs.