How do you compare online business banking services?


Quick Answer

Compare online banking services for business account by checking annual review and recommendation articles on sites such as FitSmallBusiness.com, PCWorld.com and Inc.com, as of 2015. Alternately, perform a manual comparison by looking at the monthly balance requirements, interest rates, transaction limits and deposit caps to find one that best suits your needs.

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Full Answer

Many business and financial advice websites publish articles that compare the benefits of different business accounts across national and online bank chains, looking at the most common features and fees of the main account types. As you look through these articles and the business account pages for other banks, think about the factors that matter most to your current situation, such as having the ability to wire money without incurring penalties or to deposit large sums of money monthly with low fees. It can be beneficial to open up several browser windows to look at the schedule of fees for different accounts and banks side by side.

Reviewing these articles is helpful for learning about common banking terms and how business checking accounts differ from personal accounts, as well as the types of fees that are common among accounts. However, these articles frequently focus on only major banks, rather than local or regional institutions, and may only look at a single account within a bank rather than all of its business account types. Comparing the features of different accounts within the same bank is as important as comparing the accounts across different banks.

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