Business checking for self-employed workers.

WHAT IS A BUSINESS CHECKING ACCOUNT?

Business checking accounts help business owners manage their business’ finances. They are similar to personal checking accounts, which means that they allow day-to-day transactions and quick access to funds. The difference is that business checking accounts often have higher fees and minimum balance requirements than personal accounts do, and they may have limitations on transactions.

TYPES OF BUSINESS CHECKING ACCOUNTS

At Woligo, we offer two main business checking accounts. One of them has no minimum balance requirement and no service charges, while the other has a balance requirement that lets account holders avoid service charges.

With both business bank accounts, business owners only need $100 to open a business account online. Accounts holders will receive a free business debit card and have access to mobile deposit services. They will also be able to open two separate accounts within the single small business checking account.

SMALL BUSINESS ACCOUNT #1

• No minimum balance requirement
• No monthly service charge
• The first 100 transactions are free, after which transaction fees apply

SMALL BUSINESS ACCOUNT #2

• Maintain a minimum balance of only $5,000 to avoid service charges of deposit items and encoding
• No transaction fees

FAQ FOR ONLINE BUSINESS CHECKING ACCOUNTS

Q: How do I apply for a business checking account?

You can set up your business checking account completely online. You must have appropriate licensing for your business, including official records that classify your business as legitimate. With that information in hand, you will be able to fill out the online application and submit it for a review.