3: Opening up Accounts

Today, I some time looking over different business bank account options. With so many banks, both physical and online, it quickly seemed like an endless rabbit trail of options and features to consider. In the research I did, here were some key factors for consideration:

• Monthly fees (and what you need to do to not pay them)
• Transaction or deposit limits per month
• Capability for mobile deposits (most banks have this now)
• Proximity to a physical branch location

After an hour or so, I decided to go with Bank of America. I use B of A for some of my personal banking and there is a physical bank location nearby. With so many options available, choosing a bank account can be overwhelming, but for my situation, I really just need a place to write and deposit checks. Since B of A came with no monthly fees (if maintaining a relatively small balance), and since I have used them before, it was a pretty easy choice. This is definitely a good example of a decision to not spend a lot of time on since at the end of the day, almost all reputable banks should be able to handle a small business checking account.

On another front, I decided to signup for a 1 month free trial of Squava. I played around with the program for awhile and it seems really intuitive and set up well for professional services firms. Will post some further updates later as I get to it.

Finally, I will be adding a pinned post to the top of the blog feed with a running list of all the services and companies I am using. This will allow readers to find everything in one place, in addition to the mentions in each post.

Resources Used Today:

• Bank of America
• Squava