Bank Of America Small Business Account Promotion – 3 Benefits of Using a Small Business Bank Account [+ and Bank of America Partnership Details Inside]
When you start a business, the number of tasks on your to-do list can seem endless. It’s tempting to look for ways to cut down and save time. But one item on your list should never be overlooked or overlooked: opening a corporate bank account. If this seems like an unnecessary hassle, consider this: For most small business owners, managing finances is their biggest burden. Source Too many financial obligations? Worried about your cash flow? If this sounds like you, you’re certainly not alone. But opening a business bank account is a simple, painless way to combat these stresses and ease the stress. If you are wondering where and how to start, we have a solution for you. Here we look at the benefits of opening a dedicated bank account for businesses and give you the opportunity to do so quickly and easily with the help of our banking partners. Benefits of Opening a Business Bank Account Can’t use your existing bank account to manage your business finances? Sure you can. But you’ll be putting yourself and your business at unnecessary risk. Here are the top three benefits of opening a dedicated business bank account: 1. Protection against personal liability The number one reason to open a small business bank account is to keep your personal and business finances separate. Not only does it make it easier to track expenses, file taxes and manage cash flow, it also helps define your business as a distinct entity. This, along with the formation of a legal entity, provides powerful protection for your personal assets in the event of legal action against your company. A small business checking account, a savings account, and a business credit card may be needed to separate your business and personal finances. They should be for business use only and should never be used for personal transactions. This makes separate financial management easier. 2. Better Accounting and Bookkeeping Managing a company’s income and expenses is time-consuming and, if there is no clear line between business and personal finances, often stressful. When you have a small business checking account that only stores business transactions, all of your income and business deductions are in one place. Thanks to this, accounting management and filing of tax returns is smooth, transparent and simple. If you have employees, it will also help you manage your payroll and ensure your books always balance, with no surprises at the end of the month (or year). 3. Ease of Use When you own a busy business, eliminating hassles is a must. And if you have a dedicated corporate bank account, you’ll be able to manage your finances without jumping through hoops or compromising your privacy. A business account allows you to accept payments from customers in multiple ways (credit card, check or ACH transfer) and deposit money directly for instant access. Another advantage of using a business bank account over a personal account is that you get online and mobile access to your company’s financial information. Small business owners are often on the go, and having access to the financial data they need anywhere can simplify their lives and help them get things done. The best benefit of all? A Brighter Financial Future Combined, these top three benefits have a proven result: Better management of your company’s financial future. The more information you have, the easier it will be to plan and schedule your financial needs for months or years. With better planning, you can start building a rainy day or savings fund to reinvest in your business. It will also make it easier for you to apply for grants or loans. Many lenders will not work with companies that do not have a separate small business bank account or that combine personal and business financing. + Bank of America = Better Business Banking This all sounds great, but where do you start? With, of course. Our partnership with Bank of America makes it easier than ever to get started and realize your full potential. Now, when you work with Start a Business, you get direct access to Bank of America small business bank accounts. Have you already started your company? You’re entitled to a special offer through our partnership with Bank of America. With this deal, you can earn: $100 just for opening a Business Advantage Bank account or $200 for opening with a high deposit and keeping a balance for 90 days, plus applying for and getting approved for a Bank of America Small Business Credit Card $300 for Up to 500 USD if you meet eligibility requirements, minimum balance and net new purchases! What if you’re a Bank of America customer or intend to become one, but haven’t started your own small business yet? you are lucky Bank of America helps small business dreams turn into big reality. Check out their special offer for new business owners including: business start-up discounts on business startup packages from $70 to $150 Free EIN applications Access to the rewards listed above when you open an eligible new business bank account Best of all, our partnerships operate a streamlined, easy-to-use process that allows you to apply and open a business bank account at any time, right from your customer dashboard. Take the hassle and stress out of managing your company’s finances and put yourself on the path to a brighter business future with the help of Bank of America. Note: This post contains affiliate links and we may receive a commission if you make a purchase using these links.
Bank Of America Small Business Account Promotion
Paige is a freelance content marketer with a background in writing about small business, the future of the workplace, and health. She also runs a weekly email newsletter where she shares advice on living an authentic, purposeful life. When she’s not writing, Page travels, cares for large cats, and works as a sexual assault attorney. Good morning everyone, I hope you had a great weekend. Doctor of Credit covered the recently announced changes to the Bank of America Alaska Airlines credit card, but I have yet to see an update for the Bank of America Alaska Airlines business credit card. Fortunately, I just received this letter in the mail regarding the upcoming changes to the business credit card. “Starting in March 2023, the business account annual fee will increase to $70 on the business account’s next anniversary, and the card will have an annual fee of $25, charged on each card anniversary.” A “business account” used to cost $50, so the total annual fee will jump from $75 to $95 in a few months.
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Effective immediately, cardholders will be given first boarding status (probably Group C as elite members are boarding groups A+B). You can also get $100 off a $650 Alaska Lounge+ membership if you pay with this credit card. Finally, you and all authorized users who pay for flights to Alaska with this credit card will receive priority boarding and free first checked baggage.
From March 2023, this card will earn 2x on gas stations, local transport/ride sharing and shipping. 3x on flights to Alaska and 1x elsewhere will not change. Finally, if you have a “Qualified Small Business Account with Bank of America” you will receive a 10% rewards bonus. More information about all these changes is at the back of this letter.
Backside includes priority boarding, $100 Alaska Lounge+ membership discount, free checked baggage, 2x bonus tier and relationship bonus. Because I do not have a qualifying small business account with Bank of America, I will not receive the 10% relationship bonus.
If you have any questions about the upcoming changes to the Bank of America Alaska Airlines Business Credit Card, please leave a comment below. Have a nice day everyone!
A Look At Bank Of America’s Preferred Rewards Program
P.S. I also have a Bank of America Alaska Airlines personal credit card that I opened in June 2022. Bank of America moved my annual fee from June to September. I’m not sure why they didn’t put the annual fee in June, but maybe there is a law that requires at least 6 months notice for any change in the annual fee. Does anyone have any other ideas?
Stop overspending on travel Subscribe to our newsletter for money saving tips, deals and inspiration. No spam, ever. We promise! No direct link, must be in branch. He should be able to simply ask if he has any business screening offers.
The Business Advantage checking account has a monthly fee of $29.95 per month, but for the first three months, this fee is waived. After this introductory period, you must do one of the following to continue using the Free Service:
I think the best option is not to worry about the monthly fee for the first three months
