As a small business owner, you must have the right bank account to help you manage your finances. Not all bank accounts are created equal, so it’s crucial to find one that offers the features you need. A business bank account for small businesses should provide at least these few features that help your small business operate.

Cash Management

A cash management feature is a great option for companies that want to get the most out of their account. Such a feature offers low or no transaction and minimum balance fees, convenient digital tools, and real time cash flow forecasts that make it easy to manage your finances. Plus, they’re perfect for businesses that have a lot of transactions each month.

Enable Your Accounting Process

You must be able to connect your business checking account with a preferred bookkeeping and accounting program or have an accounting function that is built in with the account. It’s crucial to employ any accounting software for businesses, do frequent evaluations, and comprehend your company’s financial situation so that you can determine your regular overheads.

Payment Capabilities

You want payments to reach your bank account as soon as possible if you sell anything online. Even while there may be choices for merchant services in many of the bigger business checking accounts, these services demand that you have enough sales to cover the setup expenses and the time to handle everything that comes with a third-party payment processing provider.

Enhanced Account Security

It’s one thing to have your own bank’s debit card stolen or misplaced. When your company debit card is lost, you need to safeguard the money that runs your payroll and business.

If a company owner suspects their debit card has been stolen, their banking services should allow them to freeze their funds. You can acquire a replacement card if your old one is truly lost, or unlock your card if it was merely misplaced.

Virtual cards are another great feature for account security. You can issue these cards easily, adjust limits, and freeze them quickly if you suspect a problem. They’re not only a secure option for expenses, but also an easy way to budget and track expenses across different categories.

Merchant Services

When you’re looking for a business bank account, it’s wise to consider merchant services. The best merchant services will have competitive pricing, month-to-month contracts, and an array of flexible payment processing solutions.

You should also look for a merchant feature that offers a payment gateway if you need online processing. This will allow your customers to pay you through their credit cards without having to leave your website.

Additionally, some banks offer payment processing services, payroll services, retirement accounts, and HSA in addition to providing business checking and company credit cards. So be sure to ask about all the different services your bank has to offer.

Apply for a Small Business Bank Account Today

A business bank account can make it easier to manage your small business finances. When looking for a business bank account, be sure to consider the features that are essential to you. Viably’s no-fee business bank account provides real-time cash insights, categorized expenses, security, and payment capabilities all under one roof. Track your business expenses and secure your funds with a business account with Viably today!