You could use a Capital One account linked to the bank's merchant services for free unlimited credit and debit transactions, then simply transfer the revenue to a checking account at your nearby bank.This way, you'll avoid transaction fees while retaining local access to a physical bank for cash deposits.You can avoid paying the fee with practically any combination of other PNC business products, ranging from loans and credit cards to PNC Merchant Services® for payment processing.
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Starting and running a small business is one of the most difficult challenges you can choose to take on.
These tools and other information are copyrighted 2015 by The Small Business Company, Ltd. This information is not intended to provide specific financial, investment, tax, legal, accounting or other advice and should not be acted or relied upon in that regard without seeking the advice of a professional who can help to ensure that your own circumstances have been properly considered and any action is taken on the latest available information.
TD does not endorse or guarantee the accuracy of the information provided by TSBC, or any other third party and the information does not necessarily represent TD's business practices or experience.PNC also gives you many different ways to avoid the monthly maintenance fees on checking accounts.PNC offers three different levels of business checking, but it makes our list of best choices for business banking based on PNC Business Checking Preferred, which costs in monthly fees but provides the greatest number of useful features.Capital One's Spark Business Basic Checking and Spark Business Unlimited Checking accounts are the best choices if you're concerned about processing a high number of credit and debit transactions.This is the only bank we've found that offers free unlimited transactions, a significant advantage if your monthly traffic exceeds the 500 free transactions allowed on most other business checking accounts.With Spark Business Unlimited Checking, you won't have to pay any fee for cash deposits, either —provided, of course, you work within range of a Capital One branch or ATM.The Spark Business Unlimited Checking Account also allows up to 5 free domestic wire transfers each month, which can be a great way to access this account if you're located far from Capital One's physical locations.We found two banks whose business checking accounts stand out as excellent examples of an ideal banking setup for a small business.Capital One and PNC operate branches in different areas of the country, so we've included analyses for both banks, as well as a discussion of how their account features might favor different types of small businesses.Finding the right bank will streamline your finances and give you room to focus on the dozen other tasks you'll face as a business owner.We looked at loans, deposit accounts and merchant services to find the best small business bank in each category.