What Types of Business Bank Accounts Are Available?
When choosing a business bank account, you typically have several options:
Checking Accounts: Used for daily transactions such as payments to vendors and payroll. Savings Accounts: Ideal for setting aside funds for future needs or emergencies. Merchant Services Accounts: Required if your business accepts credit and debit card payments. Certificates of Deposit (CDs): Offer higher interest rates but require funds to be locked in for a specified period.