Bank Of America Business Checking Account

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Bank of America is running what looks like a promotion aimed at new business checking accounts offering up to a $750 bonus with very easy requirements. This deal has been around since June, but it appeared in my wife’s account in the last few days and is only valid until 9/30/21.

Bank Of America Business Checking Account

Bank Of America Business Checking Account

The nice thing about this checking account bonus is that it’s very simple: deposit the money within 15 days of opening the account, leave it there for 60 days, collect a nice bonus and also get Bank of America Preferred Rewards Gold status (which is nice as it waives the monthly fee without having to meet any requirements).

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Although the offer appears to be targeted based on the terms, I have seen several data points of people receiving the bonus even though it is not targeted. YMMV – of course there’s a chance it won’t be honored if you’re not targeted.

I did this bonus last year, I deposited $20K for 60 days and quickly received my $500 bonus (see my 2020 bank bonus post for more information about the bonuses I did last year). This time my wife would love to open the account and earn an easy bonus (we often move our emergency fund for new bonuses like this). I love that this year they immediately added a suite of benefits to Preferred Rewards for Business Gold as it would mean a 25% bonus on qualifying business credit card earnings. The Business Cash Rewards card is much better with Platinum Honors status, but even at the Gold level it becomes a 3.75% card in a category of your choice from gas stations (default), office supply stores, travel, TV/Telecom & Wireless, Computer Services or Business Consulting Services (up to $50K per calendar year). I’m not sure this would be a high priority for us right now considering all the great bonuses on the market, but since the Preferred Rewards Gold trial is good for 12 months, it might come in handy at some point. just come At least the 12-month Gold Level benefits mean no monthly maintenance fees (which can be avoided with a minimum average balance, deposit or card activity ‘debit’, but having Gold Status avoids the need to worry about that).

Keep in mind that you must open the account by September 30 and fund it within 15 calendar days. We’ve seen this offer come several times before, so there’s definitely a chance it will either be expanded or targeted at a new group in the coming weeks.

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We keep a list of the best current credit card bonuses and this page offers more instructions on how it all works.

Our Resources page has a collection of our most useful full guides and posts. Here are some comprehensive guides to get you started… Business owners should familiarize themselves with business bank statements sent by your bank to account holders of a business account, rather than a personal account.

Bank Of America Business Checking Account

A business bank statement contains a summary of all transactions made with your business account. Each state covers a set amount of time, known as a state period. A declaration period is typically one month.

Bank Of America Business Account: The Essential Overview

Business bank statements list transactions individually and in chronological order, so you can see a breakdown of your business income and expenses. This outline is useful in managing the financial aspects of a business.

Business bank statements have a variety of looks depending on which bank your business uses. There are some common points between all business bank statement templates.

If your business chooses paper statements, the statement your business receives must be on the official letterhead of the bank you use.

The top section traditionally contains the bank’s general information, such as the bank’s name and address. After this, there is often a section about your business, including the name of the business, the address of the business, and the name of the individual who manages the business’s bank account. This section will have a record of the account name and number.

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Most business bank statements will provide a summary of the account over the statement period, which is traditionally one month. This summary will include the balance at both the beginning and end of the period, showing the total amount of money deposited and withdrawn from the business account during the period.

After the summary, most banks will break down the transactions made by the business, both income and withdrawal, line by line. This enables the business to better track profit margins and determine how well they are managing their money.

At the end of each statement period, your bank will send you the statement of your business bank account. There are two ways you can choose to receive this statement – electronically or in hard copy. There are benefits to both types of bank statements for businesses, and the style you choose is up to you.

Bank Of America Business Checking Account

You can choose to receive the statement for your business account via a secure website, portal or email. This is typically called an electronic statement and allows you to view your business bank statement from anywhere with a stable internet connection.

Powerfully Simple Business Banking

If you prefer a hard copy, your bank can send you a physical paper copy of your business bank statement. Paper statements can be useful if your business uses a paper-based filing system.

Business bank statements are an invaluable financial tool for your business. These statements can help keep your business accurate and organized.

Business bank statements are used as supporting documents for business tax forms. Cross-referencing the statements your business received during the tax year can ensure that you can file your taxes correctly. In addition, if verified, business bank statements can be used as proof that the business tax returns filed were accurate.

When considering giving a loan, lenders need to know that a business generates income. Since business bank statements show a breakdown of income generated by the business during the state period, business bank statements can help secure loans.

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Through a process known as bank statement reconciliation, your business’s bank statements can be easily compared to your business’s accounting books. It helps to find and correct any discrepancies in your account books to ensure that business records are accurate.

If you use checks in your business to pay employees or buy goods from vendors, it can be impossible to know when cash has come in. Your business bank statements allow you to see if there are any recently posted checks or if all checks have been cashed.

Business bank statements break down income and expenses into digestible chunks. It can be incredibly useful to see the spending habits of the business. Business bank statements show where the money is going. You can then compare this to previous business bank statements to determine the typical amount spent on each category of business expenses per month.

Bank Of America Business Checking Account

They can also spot any unexpected sources of income for the business, so you can expand on them if you so choose.

Ways To Contact Bank Of America

When you receive your business bank statement, there are a few things you should look for. By carefully reviewing your business bank statements, you will ensure that your business account is safe from fraudulent activity.

If you receive physical copies of your business bank statements, they should be in a sealed envelope. If the envelope is open or torn, contact the bank that manages the business account to receive a sealed copy.

Double check that the statement summaries make sense, and contact your bank if you notice discrepancies in your business bank statements.

A business bank statement is an official document sent by your bank at the end of each statement period. The statement shows the account holder all transactions, withdrawals and deposits made by the business during the statement period.

Bank Of America Business Customer Solutions On Behance

By using business bank statements effectively, business owners can ensure that their business finances are in order and sound. Carefully checking business bank statements can help protect a business from fraudulent spending and help create a budget to maximize income and minimize your business expenses. Bank of America offers a bonus of up to $500 when opening a new Business Advantage Checking OR Business Fundamentals Checking account, as follows:

The Business Advantage checking account comes with a monthly fee of $29.95 per month, but this fee is waived for the first three months. After this introductory period, you must do one of the following to keep it free:

The print notes that the offer is “only available to customers who receive this offer through direct communication from a Bank of America small business specialist or from Bank of America.

Bank Of America Business Checking Account

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