How To Build Community as a Freelancer
One perk of working as a freelancer is that you are on your own schedule – you don’t have to sit at a desk and can
AND.CO is now Fiverr Workspace
Freelancers and small business owners face similar challenges, and one of those is finding the right bank.
Cash isn’t always available with small startups, thus finding a bank that will offer you favorable rates and interest can be a huge help. Regular bank accounts catering for personal use may not provide the same advantages as those suited to business owners.
Here’s a list of the best three banks suited for freelancers or small business owners like you:
Chase is a bank made for freelancers. It affords plenty of opportunities and features that may suit your business.
Chase Platinum Banking allows members 500 free transactions and $25,000 in cash deposits per statement cycle at no extra cost. There’s no need to pay the banking fee if users maintain a balance of $100,000 daily.
The Performance Business Checking option waives the monthly service fee of $30 when you maintain a $35,000 minimum daily balance. There are also 250 free transactions, unlimited incoming wire transfers, and electronic deposits.
The Total Business Checking option only costs $15 monthly service fee. Chase waives the service fee when you maintain a daily balance of $1,500. With this account, you also get 100 free transactions, unlimited electronic deposits, and cash deposits of up to $5,000 with no extra interest.
Also, you have access to over 4,000 Chase branches and over 10,000 ATMs making this an accessible bank anywhere. The low fees will help you get a better handle on the finances of your small business.
Chase is great for Sole Proprietors, and partnerships are welcome too.
Axos is a digitally focused bank account provider.
Since digitally inclined, there are lower costs involved. They offer many benefits for small business owners. Plus, there’s a variety of business banking options to choose from.
With Axos Business Savings Account, you don’t pay any monthly fees if you keep a daily balance of $2,500 in your bank account. The opening fee is a low $1,000.
The Business Money Market account plan qualifies you for zero monthly fees when you maintain a minimum balance of $5,000 in your account.
Another option for small business owners is the Business Premium Savings account. It doesn’t need an average daily balance. The opening balance for this one is $25,000.
Furthermore, Axos business banking is compatible with reporting software. This makes managing invoicing and keeping track of payments simple. With low overheads, you’ll be saving even more. Axos also allows you ATM fees reimbursement nationwide.
Wells Fargo has a steep history, founding its roots in business banking since 1852. Its legacy continues to this day.
The Business Marketing Rate Savings account costs only $25 opening deposit. The good news is that you don’t pay the monthly service fee of $6 if you maintain a daily balance of $500. There is also free online and mobile banking access.
With the Business Platinum Savings account, a low $25 opening balance is all you need to get things started. There is a zero monthly fee when you maintain a balance of $10, 000 daily.
The Business Time Account only has a minimum of $2,000 to open the account and no monthly service fees.
Besides, you can track and access your business account anywhere at any time. Wells Fargo gives you peace of mind with excellent security and seamless cash flow management.
Banking has evolved over the years and is a convenient resource whether you run a large industry or small business.
Small business owners don’t have to dock out hundreds of thousands in dollars to get support and enjoy superior banking benefits. So, you should ask yourself, “Does your financial provider fit your needs?”
If you could use some additional help alongside a reliable bank account, And.co helps freelancers and small business owners all over the world to manage their business more effectively. From time tracking and invoicing to preparing tax and freelancing advice at your fingertips, And.co has your back.
Our automated technology and intuitive tools take care of the small stuff so you can
focus on what matters