Opening a Business Savings Account
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Last week that I had to get on the phone with my bank about my business account to get something straightened out.
I was sent a payment from a client and was charged a fee (it was a small payment so the fee came out to be around 20%).
I was able to get it waived this time thankfully. However, my bank is moving in the direction of more fees, so I fear I may have to be doing this more in the future if I don't make a change.
I've decided to start looking around at some possible alternatives and for now I've opened a business savings account at ING Direct.
If you have a small business, which bank do you use for your accounts?
Couple Money Around the Web
Besides writing here on Couple Money I contribute at other sites as well. This week was relatively quiet, which gave me a chance to catch up on some other work I had been slowly chipping away at:
- Green Panda Treehouse: Did You Invest in Facebook? (Should You?)-> With all the hype around the IPO and how it went, I thought it fun to discuss how someone can decide if they should buy stock by analyzing their goals and motivations.
- My Financial Reviews: The $100 StartUp – Can You Do It?-> I review Chris Guillbeau's new book released this month and I also cover some examples of those who have created businesses with just a little bit of capital.
Personal Finance Posts to Catch Up On
If you have some free time this weekend and want some tips and information about finances, be sure to read some of these wonderful posts.
They’re from tweets I’ve sent out this past week. Please follow me to get them as I post them.
- Women are Better Than Men at Managing a Holiday Gift Budget – (usnews.com) http://awe.sm/5tFXb via @familymoneyblog!
- Your Tax Refund: A Financially Healthy Example for Your Children via @CentsibleLife http://awe.sm/5sHb8
- Starting to Exercise? Should Your Family Spend Money to Work Out? via @familymoneyblog http://awe.sm/5scTA
- How Pinterest Can Save You Money via @prairieecothrifhttp://awe.sm/5scWH
- Do People Consider The Economy When Choosing a Major? A No Statistic Discussion of the Topic http://awe.sm/5swJK via @mjtm
- Your House IS NOT An Investment via @1stmillionbloghttp://awe.sm/5tFew
Have a wonderful weekend with your family!
Thanks for both mentions! I’m in the market for a small business savings account. I’ll have to check out ING, but I’d be interested to hear where you end up with it.
If I ever get to the point where I am making some money from my blog I definitely want to get a business checking and maybe savings account as well. I was not aware ING offered business savings accounts so thanks for the heads up.
I had a business checking account at a local bank for years, in addition to a checking and savings account at ING. Due to increased fees at the local bank, I recently closed that account and created a Business Savings account at ING. The nice thing about them is you can create unlimited “sub-accounts,” so it’s easy to make one for your business. You can also deposit your checks via smartphone or iPad now, which has been very convenient for me as I receive a lot of checks. The only drawback is they were acquired by Capital One, but their savings interest rate has not decreased…so far. I’m waiting to see what happens, but am happy with them for now.
i have bank accounts with local banks ie chase or bofa. i need local transactions. i keep balances at ing direct. they pay higher althought its of slight difference right now since rates are so low. what kind of business do you have?