Business Saving Account Benefits and Features Explained

A business savings account is a type of account that allows you to keep your business funds separate from your personal finances.

Having a separate account for your business can help you manage your finances more effectively and avoid commingling personal and business funds, which can lead to tax and accounting issues.

By keeping your business funds separate, you can also make it easier to track your business expenses and income, which is essential for making informed financial decisions.

This is especially important for small business owners who often wear multiple hats and need to keep their finances organized.

You can earn higher interest on higher account balances with a business money market account, which requires a $100 minimum opening deposit. This means the more you have in your account, the more interest you'll earn.

Interest accrues daily and gets paid monthly, so you'll see the benefits of saving regularly. You can also expand your growing business with confidence using a Business Savings account with a low opening deposit.

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FDIC insurance protects your deposits, giving you peace of mind. You can transfer funds to your U.S. Bank checking account by phone or online for easy access to your money.

Reviewing your business checking and savings accounts in one combined statement can help you stay on top of your finances. This convenience makes it easier to manage your business's financial health.

Worth a look: Checking and Saving Account Difference

With a Business Savings account, you can earn interest daily, which means your funds will keep growing over time.

This account offers up to 6 no-fee withdrawals or transfers a month, giving you flexibility when you need it.

Our knowledgeable bankers are always available to help you at our branches or through our customer contact center.

Your business savings account is protected by the FDIC, which means your balances are fully insured up to the FDIC's allowable limits.

With online banking, you can manage your account securely from anywhere, giving you peace of mind and control over your finances.

This insurance coverage gives you one less thing to worry about, allowing you to focus on growing your business.

Discover more: Fdic Insurance for Business Accounts

For those who want to earn higher interest rates on their savings, a Premium account might be the way to go.

The Premium Business Money Market account offers higher rates of interest on higher balances, making it a great option for business owners who can maintain a higher balance.

This account also comes with an Earnings Credit when linked to a Premium Business Checking account, which can help offset checking and transaction fees.

The Axos Business Premium Savings account is another great option, offering an above-average APY of 4.01% with no monthly fees.

This means you can earn interest on your account balance without having to worry about monthly fees or overdraft fees.

Here are some key features of the Axos Business Premium Savings account:

This account also offers remote check deposit using your mobile device, making it easy to manage your finances on the go.

Having your savings insured by a reputable institution like the FDIC can give you peace of mind. Balances in your Business Advantage Savings account are fully insured up to the FDIC’s allowable limits.

This insurance means that even if your bank fails, your deposits are protected. You can bank online with confidence, knowing that your money is safe.

The FDIC's allowable limits mean that you can have a certain amount of money in your account without worrying about losing it. For example, the FDIC's allowable limits are $250,000 per depositor, per insured bank.

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