Every good startup needs a good business bank account, but how do you know which one is right for you? When searching for the best bank account for your startup, here are a few things to look out for:
1. Convenience
Business banking should be a convenience, not a hassle. The best bank account for founders is one that allows you to access your funds from any place at any time. This is why digital accounts such as Grasshopper’s Accelerator Checking are a great option for the modern startup because you can access your funds anytime you have access to your phone or computer.
Plus, business moves quickly, so you need a digital platform that can keep up. Grasshopper’s easy and frictionless onboarding can take as little as 5 minutes, saving you time from the very start. Having access to quick and straightforward methods to send and receive money can also speed up your business operations. Grasshopper’s platform provides you with the flexibility to move money whenever you need it with unlimited free ACH and incoming wires.*
2. Financial Tools
The best bank accounts come equipped with financial tools to help you manage money better. Online bill pay, personalized invoices, and mobile check deposit are just some of the tools and features that a Accelerator Checking offers to help founders succeed.
An additional perk to look out for is the ability to easily integrate your account with other financial software. Grasshopper allows you to seamlessly integrate with Autobooks, Quickbooks or your preferred accounting software. These services can help you generate reports, reconcile transactions, and automate the bookkeeping process.
3. Reliable Customer Support
As a startup, it’s important that you have access to a dedicated support team made up of real humans with real expertise, so your company can receive the personalized attention it deserves. You should feel supported throughout your business journey and in your banking experience. Grasshopper’s US-based Client Services team is readily available to help provide real-time product support, answer any questions you may have, and overall support you to surpass your business goals.
4. Resources to Grow
Startups need room to grow, so you need a bank account that aligns with your growth plans. As your team grows, you may need to issue more virtual and physical cards. You may also want to look for banking solutions that provide you with the opportunity to earn interest on your extra cash. With Accelerator Checking, you can earn up to 2.25% APY, plus unlimited 1% cash back on online and signature based purchases using your business Visa card.*
Last but not least, you may need additional funds to support your growth. Grasshopper’s Fund & Sponsor Banking Team can work with you to identify lending solutions that fit your unique business needs at any stage.
Above all, you need a banking partner that understands what a startup needs, the ecosystem your company operates in, and will work alongside you to guide your business towards success. Don’t settle for less.
By Michaela Lenahan in Startups
