One of the most important steps to take as a business owner is opening a business account. As easy as this may sound, business owners on ReviewsBird.com expressed how the stress of opening an account in a brick-and-mortar bank makes it discouraging to embark on.
But fortunately, technology has set a newer pace to creating your business account. You can go as far as opening one in the comfort of your home – so yes, a valid business account can be opened online. Here is how to create yours:
● Make Research
The features of online checking accounts vary with every financial institution, so you might want to carry out a thorough research on which of the online banking institutions you would be willing to put your funds into. Factors you might want to consider while searching may include; rate of returns on your money annually (interest rate), maintenance rate, Bank fees and you might also want to check some online accounts’ feedback for new faster and safer ways to banking online.
● Create Your Profile
Once you have decided where you would like to open an online business account, you will need to create an online profile, just like any other online account. Your username, email and other information would be needed and you would need to create a strong password to secure your profile. Endeavor to use a long password consisting of numbers, alphabets and symbols which would make it difficult for anyone to guess. If you already have a relationship with the financial institution, through a credit card or loan, you may have the privilege to use your login information to create your online business account.
● Input Your Personal information
In this section, you might be required to fill in personal and contact information like your full name, date of birth, social security number and other related information. These are in most cases provided when you need to complete an online business account.
● Select An Account Type
If you’re yet to do this, you might need to pick the type of account you want to create. It might be a business checking account or a savings account or a joint account; where you would need to provide your partner’s information too.
● Fund Your Account
This last step is carried out in order to activate your account. You will need to identify how you would want to fund your business account. Is it by making a transfer? or you will rather email in your checks? This is because making cash deposits online is not an option.
Once you’ve known how to open an online business account, You’re just a step to fully setting up your account. If you ordered a debit card or cheque, it should arrive in a short while. On receiving your card, you can go ahead to set your Personal Identification Number (PIN). In no time, you would be making different transactions.