Best Business Checking Account - Best Bank Accounts For Small Businesses

[@Railey1]

Love how detailed yet simple all your points are. Something about how you've organized and broken them down just sticks more than reading the sites on my own!

[@shawnshalest_hws]

Thank you so much! Your feedback really helps.

[@darrylmerquillo]

Just got the Chase Business checking, thanks for the knowledge!

[@shawnshalest_hws]

Awesome news!

[@bryandegante7654]

hey I'm in the process of opening a business account but doing some research. how is the chase bank? I'm considering it since I have one that's 3 mins away from me and the other one which is NFCU but that one is 25 mins away.. I don't mind the drive but I just prefer a bank that won't be a hassle in the long term.

[@darrylmerquillo]

@@bryandegante7654 I’m not doing anything too crazy with it… the minimum to keep in there w/o paying a fee is $2,000. So I take money from there when I make a business expense and then refill that money back from my personal account to stay just above $2,000. Chase atm’s are everywhere around me so I just I enjoy the liquidity. Not much strategy for me, but hope that helps

[@bryandegante7654]

@@darrylmerquillo I appreciate the reply man I opened one with chase bc I do like that I can find them pretty easily

[@pinkorganichorse]

@@bryandegante7654 which bank did you choose?

[@astrascloset3839]

I watched several videos before I came to yours. Thank you for making it plain & clear. I appreciate the banks you provided.

[@shawnshalest_hws]

Thanks so much for watching!

[@doseofsoma]

Didn't have a good experience with NOVO unfortunately. I wasn't able to actually pay for things using the account and the customer service took forever. Just a heads up for everyone.

[@dannyalex6144]

Did you switch to any better one?

[@dannyalex6144]

If so can you share it

[@kris_plushbeautyservice9290]

Same

[@ShaneaHiggin]

Yes I agree!!! They just lost me because of this!!

[@caenterprisellc6922]

That was a good list. I was looking for a start-up bank to tie to my business with no monthly fees or a bank with a good waiver.

[@shawnshalest_hws]

So glad it was helpful!

[@meloniegreen1480]

THANK YOU!! I just got approved for Blue Vine 🙌🏽💪🏽

[@shawnshalest_hws]

Sweet!

[@caseyriley1014]

Detailed while simple and to the point... Thank you, great video!

[@PrincoxLauni]

I can’t even focus on the point of the video cause your voice is so soothing. I watched this while drawing up sketches for my brand

[@shawnshalest_hws]

Thank you 🙏🏾

[@PrincoxLauni]

@@shawnshalest_hws you’re welcome

[@GeekyGeckoCreations]

Chase just charged me $2k I can't touch to keep the account as of October

[@carlosortega8643]

Wouldn't wells fargo intiate business account be better than chase bussiness because they have a lower monthly fee ? Also all you need is $500 in the account to waive the fee unlike chase you need $2,000!

[@hustlehabitsllc1388]

CHASE DOES REQUIRE A MINIMUM $2000 DEPOSIT OR GET CHARGE 15 A MONTH FYI IF THAT HELPS IN NJ

[@karebear9827]

This is facts!

[@bumblebeausa5780]

What? 2k deposit?

[@shawnshalest_hws]

That’s interesting… I’m in Georgia and I didn’t have to do a 2k deposit.

[@telayas]

She explained that in the video 😩 lol

[@chevysttruck]

you mean they require you to maintain a $2000 monthly balance to avoid the monthly $15 account fee. NOT a $2000 deposit.

[@marionj.caffey2832]

Quite helpful and very good delivery.

[@shawnshalest_hws]

Thank you so much!

[@PivotPixie]

This was extremely considerate and informative! Thank you

[@nataliechristian4631]

Really loved this video God bless you !

[@shawnshalest_hws]

Thank you!

[@LexxyLoveee]

Thank you so much for this! Super informative !

[@shawnshalest_hws]

You're so welcome!

[@chanellekirch]

Omg where has your channel been all my life!?! 🥰

[@shawnshalest_hws]

Thank you! 🥰

[@NovoHQ]

Thanks for the shout out, we really appreciate it.

[@shawnshalest_hws]

Our pleasure!

[@forged_billions2]

Can I get business credit with novo?

[@NovoHQ]

@@forged_billions2 we currently don't offer credit or lending but it's something we hope to support in the future.

[@mjedwards5809]

Another serious con of Novo is that they will not support a series LLC

[@shawnshalest_hws]

That is a good point. Thanks for sharing.

[@shmurk951dabz]

do you know which one do?

[@DELIROUSROB]

what do you think about amex business checking account? any good

[@shawnshalest_hws]

Yes! They will be on my updated list.

[@babygirlAjaMarie7]

Thank you so much for this video. I was so clueless until I watched this.

[@shawnshalest_hws]

I'm so happy it was helpful!

[@SweeTee76]

Thank you girl!

[@DynastyLandFootball]

Hey there, we keep getting denied for a small business bank account. Companies keep claiming they can’t work with us because we are in the “gambling” business which isn’t true, we get all our income from KZbin & donations. But no one accepts us to bank. Any advice on who would accept us & that’s a good bank? Thank you.

[@hiddendragon1001]

Square checking.

[@thanoswasright3457]

the beautiful pic in back of you, where is it from?

[@samanthashamim3934]

So helpful!! Thank you 💙

[@TheSimpleSprinkle]

A great video! Straight to the point and so helpful

[@dmar813]

Superb breakdown 👍🏽

[@williamking8231]

NBKC had everything I needed but the No 3rd party integration is so huge and can’t be overlooked😭

[@shawnshalest_hws]

I agree totally. Maybe they will change that.

[@MNIU_]

What do you mean when you say no third party integration? As far as making payments ? POS?

[@williamking8231]

@@MNIU_ So I believe that means the account can’t be linked to use 3rd party tools like Mint or Shopify for example. So if your business depends on the likes of Shopify for sales NBKC is not for you unless you find some sort of work around.

[@jokesalamidesigns]

I plan to use Navy credit union, they require only $250 deposit and no minimum balance requirements. I think I need to go bank and research more on this balance requirements before I sign up with them. You have to register your business and have a license.

[@chromeblk08]

Ty for the information

[@yaniherperlaza5710]

Union Bank helps small business way more then regular banks. 1000%

[@tashagotit7747]

Details

[@versaillestheeverything]

@@tashagotit7747 Credit unions tend to have lower fees and better interest rates on savings accounts and loans, while banks' mobile apps and online technology tend to be more advanced. Banks are owned by investors so they're really after the profit any way they can get it, while credit unions aim to have the lowest fees possible with the highest interest yields and lowest interest on loans. Biggest thing is access. You have more access to ATMs and branches with banks vs credit unions as most CUs are like in particular states or cities and may not have as many online tools to accommodate your needs. Pros and cons to each.

[@tashagotit7747]

@@versaillestheeverything oh wow thanks so much

[@jessikalagos8502]

Which union bank if you don’t mind me asking ?

[@lechugaevencio6718]

Thank you 🙏❤️

[@shawnshalest_hws]

You are so welcome

[@eudgesaintsurin6116]

What do you think about navy federal for a business account

[@dominiquenunu5997]

Hi thank you for this information but does bluevine work with 3rd party tools?

[@cupcakejellybaby]

I heard blue vine is having very big problems

[@LordBlackNephew]

3rd party tools such as Samsung pay, PayPal, Cash app etc...?

[@vanessaclements4873]

Thank you for this!

[@shawnshalest_hws]

You’re welcome 😊

[@TAWPhotography]

Thanks for this video

[@shawnshalest_hws]

Most welcome ❤️

[@sweetietee19]

I dont think I had to pay a 50.00 deposit or have my ID. I just applied was approved and got my card

[@shawnshalest_hws]

Thats good to know. Did you apply in person or online? Also which bank did you use?

[@danied605]

Which bank did you use ?

[@MikeBeastM0D3]

Do any of these use Zelle?

[@wartrain12]

Thank you!

[@shawnshalest_hws]

You're welcome!

[@SigmaTradizionalisti]

Thanks 👍 great info on 🏦 please send me updated news on bank accounts for individual or business in Porto Rico regards Steven.

[@shawnshalest_hws]

Hey Stefano... I'll have to do some research on that.

[@moneymyers]

AMEX also has their own BIZ checking

[@bpdrephotography3859]

When you say no 3rd party access does that also mean things like cashapp?

[@KxngUnkasa5]

No, it means like QuickBook

[@lonewiso]

Thank you for your time ma'am

[@shawnshalest_hws]

You are so welcome!

[@lonewiso]

@@shawnshalest_hws me and my 3 brothers have taken that step and we all have our own LLCs. I know is not much but we are starting to see things in a different way. We always thank the Lord for giving us the opportunity to walk through those doors he opens for us and we are thankful for your advice too ma'am. From the bottom of my heart i want to say thank you so much for been honest and truthful to your audience. God bless you and your family ma'am

[@ReallifewithT]

thank you for sharing... which banks check your personal or business credit and what is the score required ?

[@shawnshalest_hws]

You’re welcome! Thanks for watching. None of the banks on this list check your personal or business credit when opening a checking account.

[@LoveTheEighties]

Thank you for that question and answer because what I've been looking for after annoyingly being declined at Iberia business banking and probably because they asked my ss#. So I was like well which bank do I apply at and it's such a long grueling process to apply for a business checking account and not as simple as a personal checking. Wait but why are they asking for social if they're not going to check it? Trying to get the checking is more of a pain to get than I would think.

[@kurtwagner7610]

Keep up the great work!!! 👍

[@shawnshalest_hws]

Thanks! Will do!

[@sweetiepie144000]

North one or Near side is better

[@kahnart3525]

This video is great but I want to start a new business of Etsy while I am not living in US. I need your help if you can.

[@thinkhired]

i have a US LLC a company in Michigan with EIN. but i m not a US citizen, and living outside USA. so please let me know how i can open a US business bank account online.?

[@babytauras01]

Great video

[@shawnshalest_hws]

Thanks!!!!

[@Patronesofly]

Dime Bank is a pretty good bank as well.

[@shawnshalest_hws]

Thanks for the feedback. I’ll check them out.

[@inlustrismedia]

Very helpful!

[@shawnshalest_hws]

Glad it was helpful!

[@jenniferhalliwell416]

CHASE?! NO WAY! I had a business account with Chase and if you don't have a certain amount in the account they charge you like 25 dollars a month!

[@shawnshalest_hws]

Wow! That's a lot. I think my monthly fee is $12

[@seekpeace5529]

Just say NO to Chase

[@PSALMSOFSONGS]

@@shawnshalest_hws yes. I'm reading the agreement now and it says $15/mo for Indiana/IL

[@TheNeshuh]

Same for florida. Closed my account today.

[@everythinglaurenlex5873]

I wonder which company has the best business account for realtors or people in real estate that does flips (with large deposits at a time)?

[@shawnshalest_hws]

I'll do some research!

[@nd9834]

Need this information as well

[@jaysonhollwedel9296]

i need that info to as a Mortgage Loan officer

[@kayiong2000]

Yea yes!! Are there any updates??

[@jasmynejackson671]

Thank you this was very helpful

[@shawnshalest_hws]

You're welcome! I'm so glad it helped.

[@HungryYett]

I'm looking into Novo right now but can you build business credit with that? Doesnt look like they have a credit card

[@tomiark]

I really would like an answer to this question too

[@HungryYett]

@@tomiark same lol

[@shawnshalest_hws]

Hi! I'm not an expert but for me personally building business credit is a separate path from my business bank account. My business banking is with Chase. However I started building my business credit by getting my DUNNS number and getting starter trade lines in my business name. The goal is to build your business credit file so it stands on it's on.

[@araina5896]

Helpful

[@timgoos9389]

What about cash deposits?

[@antolintaveras7914]

Greetings from Pennsylvania darling.

[@shawnshalest_hws]

Hello!

[@AnsleyDawkins]

Thanks for the great info.

[@GoaWay...]

What legal documents do they require? You may not have any if you are just some proprietor

[@shawnshalest_hws]

The documents you will need depend on how your business is set up. Like you said if you are a sole proprietor you won't have any. The best thing to do is contact the bank that you choose and see what they require. Most should be pretty easy to set up.

[@GoaWay...]

@@shawnshalest_hws okay. Thank you.

[@AuroraDawnWitchcraft]

Very helpful.

[@shawnshalest_hws]

Glad it was helpful!

[@FoodTrucksForDummies]

Novo is my favorite 🤩

[@BenDover-ll2ih]

Why can't I just use my personal checking account?

[@shawnshalest_hws]

Hey Ben! When running a business it is best to separate your personal money from your business money. This will help you with your bookkeeping and will definitely help you if you are ever audited by the IRS. If you are operating your business as a separate entity from yourself then a business checking account is required.

[@loverofallanime101]

Also if you’re ever sued, it’s best to make sure that you’re not commingling in case you lose your case. For example; even if you have an LLC that protects your personal assets, if it is shown that you are using your own personal spending with your business account or vice versa the judge can rule to take give your assets to the prosecutor. Because you don’t have a clear line of what’s business and what’s not.

[@jonathanwhite1523]

very useful

[@shawnshalest_hws]

Thank you so much!

[@LilMizzLae]

Can you talk about when one of these business accounts would be necessary for a small business? Or the difference between the business vs personal accts? I just started selling art and I'm not getting much money in at the moment so I'm wondering if just a savings/checking account from Capital One would suffice for the time being

[@adanneholman2098]

Coming from personal experience and LOTS of research, OPEN A BUSINESS ACCOUNT!! I would even go as far as registering your business with the state. If you plan to grow bigger, it will be important to show how long you’ve been selling and even if it’s only a little bit, that you have money coming in. Registering your business and opening a bank account are the first steps to making yourself official. Good luck, girl!

[@adanneholman2098]

@Caramel Delight yessss, get after it girl. I love hearing about small business women.

[@shawnshalest_hws]

I'm so sorry I'm just seeing your comment after 8 months. But I totally agree with @Adanna Holman. If you have a business, you need a business checking account. Your personal and business money need to be totally separate. It's also one of the major factors that prove that you actually have a business and not a hobby.

[@deborah_ghist]

@@adanneholman2098 hi! I’m in the middle of researching and trying to find out what would be best in my case. I want to open an Etsy digital template shop but see mixed information. Should I do a sole proprietorship or an LLC for this type of business? The products will be digital only and done by myself.

[@jennifergaines9771]

thank you

[@adelineanyidoho5785]

Great video! Does Blue Vine charge for wire transfers?

[@shawnshalest_hws]

Hey! So sorry for the delayed response. Incoming wire transfers with BlueVine are free, and outgoing wire transfers are $15.

[@jessicagaetane7926]

Blue vine emailed me they will no longer supported wire transfer

[@JohnDoe-bd7hv]

Blue vine is okay but just wanna pass a warning that their customer service is notoriously bad , there’s been people who has had been locked out of their money and couldn’t get help fixing the situation

[@taylorhawkins397]

Hello. If I have an online boutique, would the 3rd party tools be a requirement? I'm asking because I'm interested in NBKC, but if I need access to the 3rd party tools I won't get it.

[@shawnshalest_hws]

Hi Taylor, for me personally that is a deal breaker. I use quickbooks and I need an account that integrates with Quickbooks.

[@gerardo_ortiz]

can we have multiple busines bank accounts

[@bouzoume]

love this

[@shawnshalest_hws]

Thank you!

[@zay_y]

Can you review found business banking?

[@shawnshalest_hws]

I'll check them out!

[@ianwebster1628]

thank you nice

[@shawnshalest_hws]

Most welcome

[@curtteeshawilson9262]

Hellooo!! Happy holidays. I realized that 3 of the 4 banks requires your company to Be in business for at least two years? Are their ways around this? I just received my license two weeks ago.

[@shawnshalest_hws]

HAPPY NEW YEAR!! Can you let me know which banks are requiring you to be in business for a lest two years? I'm with Chase personally and I opened my account when my business was new.

[@curtteeshawilson9262]

Thanks for your reply. I believe I checked all you recommended except chase. I will try them .

[@LordBlackNephew]

Novo seems to be the best one, least amount of fees. BX STAND UP!!!

[@95style13]

Facts! im looking at that one right now

[@eb6195]

I thought Bluevine and NBKC also did not charge a monthly fee?

[@LordBlackNephew]

Divvy is good and free, I compared it to NorthOne where they charge $10 monthly. BX STAND UP!!!

[@abelworld]

How about discover bank ?

[@shawnshalest_hws]

To the best of my knowledge Discover does not have a Business Checking account. They do offer really good personal bank accounts.

[@pennyhouseweddings]

You're too hard for that SEO lol. Thanks for the video!

[@johnmertilus2476]

What you think about the TD bank?

[@215blasian]

Love and is a tremendous physical bank, but it's not on the west coast

[@parkeranderson3161]

Can I have a sole proprietor business and have the business reimburse me for tuition? I want to starting welding business, can my business send me to welding school?

[@shawnshalest_hws]

Hi Parker, I'm sorry I don't know the answer to that question.

[@carlosvelasquez331]

Sponsor yourself essentially i'm pretty sure you can!! I dont know if thats the correct method i would consult with a business CPA

[@eb6195]

Yes, check with CPA that specializes in small business taxation.

[@lisamartin947]

so interesting

[@dayinthelifeoftaramonee]

Can you eventually open a credit business account after opening a bluevine checking account?

[@brittanyatterberry]

I would like to know the same thing. Did you find out yet? Im looking to build business credit and get my Duns.

[@mrmakeadeal2415]

Your voice🌷

[@shawnshalest_hws]

Thank you :-)

[@2010zac1]

Any bank for non US citizens with an EIN

[@siceyourlifefamily2014]

Give thanks fam! More Love!

[@PorscheAndAzalia]

What legal documents?I only have EIN and some banks have asked for irs docs which i dont have as a new business

[@shawnshalest_hws]

The documents will depend on they type of business you have setup. For example an LLC will need different docs than a sole proprietor. I would reach out to each bank to find out exactly what they require.

[@directorparisholmes2024]

Can you transfer from Bluevine to other accounts?

[@directorparisholmes2024]

You also need to wait now. Sheeeeesh

[@jasonjohnson2174]

Thank you. Lol cool name

[@shawnshalest_hws]

Thank you too!

[@djtazonline]

BANKED WITH NBKC FOR 3 YEARS BEFORE THEY RANDOMLY CLOSED MY ACCOUNT BECAUSE I MADE 3 ATM WITHDRAWALS (LESS THAN 900 IN TOTAL) IN 2 DAYS AND REFUSED TO TELL THEM WHAT I WAS USING MY MONEY FOR. HORRIBLE PRACTICE, HORRIBLE BANK.

[@aaron78950]

Should all my businesses bank with the same institution?

[@shawnshalest_hws]

Hi! It’s totally up to you. I have an updated video out where I talk about Relay Bank. They are a good option if you need multiple accounts. Here is the link: kzbin.info/www/bejne/hZu5q2utpM6hnJo

[@simonehancock643]

Hello. I wanted to ask what's your favorite bank?

[@simonehancock643]

Someone told me PNC is good. I just don't know where to go

[@shawnshalest_hws]

Hey Simone... my favorite right now is Capital One. But that is mainly because I love their mobile app. I like that I can see my bank account, my daughter's bank account, and my credit cards in one place.

[@simonehancock643]

Thank you! I will look into it

[@curtis6k41]

Great info , hopefully you make videos with less infomercial style and more natural

[@shawnshalest_hws]

Hi Curtis, thank you for the feedback. Hopefully as I do more videos it will start to sound more and more natural. Shawn :-)

[@austinash9337]

why the monotone voice the whole video? makes the videos difficult to watch

[@maxwellperry3652]

1st comments

[@shawnshalest_hws]

Thanks for getting things kicked off!

[@idiocraciaahora1967]

¿Is your hair extencions?

[@antolintaveras7914]

She looks pretty anyway.

[@chamaparker7739]

No that’s her hair

[@Seeitthrough]

your not skinny tho... that shit is all perspective. Magnificent Video. Thank you!

[@shawnshalest_hws]

Lol… nope I’m not skinny at all. Healthy is the new skinny. So happy you liked the video. 🥰

[@JByrdLottery2021]

👋👀👍

[@shawnshalest_hws]

❤️

[@JByrdLottery2021]

@@shawnshalest_hws keep the valuable information coming!!

[@charlescloud2597]

northone bank

[@HukisKing88]

Skinny? I'd change that 🤷🏾‍♂️

[@shawnshalest_hws]

Skinny = Minimalist. Not in reference to a person's size.

[@HukisKing88]

@@shawnshalest_hws makes sense

[@morland]

Thank you for this information

[@shawnshalest_hws]

My pleasure

[@vanessabyrne8079]

Thank you

[@timjordan6703]

Very helpful. Thanks!

[@shawnshalest_hws]

Glad it was helpful!