Best Business Checking Accounts for Startups
Pick from the following choices to find the best business checking in MD or PA for your company’s needs.
- Basic Business Checking: Our most basic business checking account allows for 150 items (deposits, cleared checks, debits, credits, etc.) per statement cycle, with a maintenance charge of $.45 per item above the limit. This account is the perfect solution for a startup business that is just starting to grow and has limited capital and fewer transactions.
- Business Checking: As your business grows, you may want to move up to our standard business account, which requires a $5,000 average collected balance to waive the $20-per-month maintenance fee. This account allows 300 items per cycle with a $.35 maintenance charge for each item over the limit.
- Interest Checking: If you’re interested in having your checking account money work for you while you conduct your business transactions, ask about our interest checking business account, which requires a $5,000 average collected balance to waive the $30-a-month maintenance fee but offers a variable interest rate, compounded and credited monthly. There’s a charge of $.45 for every item per cycle over 100.
- Select Business Checking: When you outgrow your standard business checking account, ask us about our Select Business Checking option. If you expect to be able to maintain a $25,000 or greater average collected balance, this option is a great one for you, as it allows you 500 transaction items per cycle, with a maintenance fee of only $.25 per item in excess, and a fee of $30 per month that your average balance drops below $25,000.
- Relationship Business Checking: If you have a Merchant Services account relationship or a qualifying Cash Management service with PeoplesBank, such as ACH payroll, payments, collections or receipts, you may be eligible for our Relationship Business Checking account, which offers you 300 transaction items per cycle with no minimum balance and a fee of only $.35 per item over the 300-per-cycle limit.
All of our business accounts require a $100 minimum opening balance and feature mobile and online banking services, business bill payment services, VISA® Debit Card access and fee-free ATM transactions at any PeoplesBank, Sheetz, Rutter’s or MoneyPass®
Use Our Business Checking Comparison Chart to Choose an Account
Choose the business checking account that’s right for you with the help of our convenient comparison chart. If you’re not sure which checking account is best suited to your business, one of our account managers will be happy to assist you. Just give us a call at 717-846-1970 or visit a local PeoplesBank branch for assistance.
Why a Business Bank Account Is Integral to Your Success
Opening a business bank account can help your new enterprise flourish. Prepare your business for future success by:
- Isolating your personal finances from your business finances: When all of your business income and business spending are visible in the same account that’s separate from your personal finances, it’s easier to keep track of monthly expenses, which clients have paid you and which payments have been processed.
- Protecting yourself against liabilities in the event of a lawsuit: If you make sure that your private funds stay strictly separate from your business funds, you can prove to a court that your business truly exists as a separate entity.
- Tracking your tax-deductible business expenses: Having an account designated to your business’s finances saves time and money when filing your tax returns. It also makes it easier to track your tax-deductible business expenses.
- Enjoying banking perks and better services: You may qualify for certain rewards as part of your small business banking relationship by creating a separate account for business-related finances.
- Building business credit: Obtaining a business credit card can help you build credit under your organization’s name. You can help create a credit history for your business every time you pay your business credit card on time.
Why PeoplesBank Is the Best Small Business Bank Serving Maryland and Pennsylvania
PeoplesBank is committed to providing the financial resources you need to accomplish your goals. Our products and services help you live life on your own terms and achieve life’s most significant milestones. Other reasons to start your small business with us include:
- Over 155 years of experience.
- Voted Best Bank in York County by the York Sunday News.
- Local, community bank.
- 22 convenient locations / 7 retirement community offices.
- Dedicated to giving back to the communities we serve.
- Emphasis on developing lifelong relationships with our clients.
Open Your Business Checking Account Today
For more assistance with our business banking services, simply fill out a Business Needs Assessment Form so we can create a customized solution for all your banking needs. From a checking account to merchant services, our goal is to provide your business with the services you need while also saving you time and money to position your business for success.