How to get a free business checking account in 2020

Transcript: Hi I'd like to share what's probably the best deal out there for small business checking accounts that don't want to pay a monthly fee when they have a small balance so these kinds of deals are always changing but they'll usually last for a few months and then it's going to be a different bank that has the lowest fees or the best deal for small accounts right now that Bank is u.s. bank and it is the beginning of July 2016 so this will probably go on for a while they've been doing this now since um well this particular account I actually opened one of these for one of my businesses last year so it's been going on for a while they're still I believe the only one doing it so hopefully they'll keep doing this for quite a while normally when you get in to an account with a bank you open up an account with no fee and then later they decide they want to do away with the no fee accounts usually you get grandfathered in where you don't pay the fee you just keep going like when you signed up and and the... See more →

Key quotes:

• "Did you know that every time you swipe your card in a foreign country, your bank is charging you exorbitant fees and giving you a terrible exchange rate? If you’re a freelancer or business owner, don’t miss my article on the best business bank accounts you can open remotely."
• "(If you’re unsure about the process, just read my article on how to open an N26 account remotely) You’ll still need a delivery address in Europe (specifically in Germany, Austria, Spain, Italy, Ireland, Slovakia, Greece, France, Belgium, Estonia, Finland, Latvia, Lithuania, Luxembourg, Netherlands, Portugal, Slovenia, Norway, Sweden, Denmark, Poland, Iceland, or Liechtenstein.)."
• "You get a free current account and debit card, a user-friendly app which makes it easy to stay on top of your spending, and just a few, low fees."
• "Launched in the spring of 2018, the HSBC Everyday Global Account is the first Australian multi-currency travel card and bank account without foreign transaction fees or “criminal” exchange rates."
• "Open ING Orange Everyday account I have included all the nomad friendly banks I came across in my research, but if I missed a bank in your country please let me know, so I can update the article!."

Transcript: Hey born my name is Kevin and in this video we're gonna be talking about the best checking accounts to get in 2020 I'm gonna tell you my honest thoughts on the best checking accounts to get and even tell you about one that has a five point zero nine percent interest rate so I make videos like this all the time about personal finance real estate passive income and reviews of financial products so if you like that sort of thing be sure to check out my other videos and subscribe to the channel and be sure to drop a like on this video if it helped you in any way I'd really appreciate if you did so now let's jump right into it the first thing you need to know about checking accounts is that most checking accounts out there are awful instead of banks paying you interest you end up paying the banks in fees thanks like Bank of America Chase Wells Fargo Citibank and a whole lot of banks out there will charge you account maintenance fees which could be ten twelve fifteen dollars every single month unless you meet certain criteria just to have the... See more →

Key quotes:

• "Business Score suggestion: Starling bank is a fantastic option that covers your needs if you’re a sole trader, the owner of a small business or a small early-stage startup."
• "What to watch out for: If you’re just getting started, the fees might be inconvenient and you’re better off with a free business bank."
• "Business Score suggestion: You can count on great user experience with Tide as the offering is purely mobile and web-based, if you have high expectations on a seamless banking experience, Tide could be the one for you."
• "Business Score suggestion: Small business owner with not many requirements from their bank, such as additional services — this could work well for you."
• "Business Score suggestion: Following the free business banking period the fees are pretty low with HSBC."
• "Business Score suggestion: Great option for a startup that might be using multiple currencies to send and receive payments, Revolut specialises in minimizing the fees traditionally associated with this type of thing."

Key quotes:

• "I’m going to help you find the best low or no-cost checking accounts to put your newfound organization’s income! I’m going to tell you the 5 Best Checking Accounts For Businesses in 2020."
• "I looked for banks that had business checking accounts that offered low or no cost monthly fees, as well as a minimum opening deposit of no more than $500."
• "BBVA Business Connect Checking offers free mobile banking, mobile deposit, no fee at any of its 43,000 in-network ATMs, including 7-Eleven gas stations and a few other features."
• "Chase Total Business Checking also offers a $0 minimum deposit, making it a great option if you’re starting your company on a shoestring budget."
• "Citizens Bank offers no monthly fees and no minimum deposit, making it one of the most affordable business checking accounts on the list."
• "Like Citizens Bank, nbkc offers business checking accounts with no monthly fees and no minimum deposits."

Key quotes:

• "There are several reasons to separate personal and business banking but the primary reason is that’s never a good idea to commingle funds."
• "With that in mind, here are the primary reasons why small businesses of all sizes — from startups to contractors, to sole proprietors — should have a separate business checking account: An advantage to keeping personal and business accounts separate is that you’ll always know which expenses are personal and which are business."
• "With the right documentation (which is minimal), opening a small business checking account could take only minutes of your time."
• "Opening a business checking account is easy, especially if you’re prepared with the right documents."
• "Whether you open your account at a physical branch location or you open your account online, there are a handful of documents you will need, depending upon the legal structure of your small business."
• "Choosing the right bank for your small business checking account may be the most important financial decision you make."

Key quotes:

• "Choose a checking account at a bank that meets your own unique needs."
• "Some of the best business checking accounts for freelancers include Capital One 360 Spark Business Checking (fee free, online only), Chase Business Checking (fee free with a $1,500 balance, large network of branches), or a local credit union (low or no fees, convenient locations, more personalized service)."
• "Each payment you receive and each expense you pay ultimately flows through your business checking account."
• "You can use your business checking debit card for expense payments if you choose, or use a business credit card."
• "It is important to keep business finances separated, then pay yourself from your business checking."
• "Pro tip: this is true for personal credit cards and bank accounts as well."