Account plans start at $15 per month, waived if you meet specific terms 🟡 The Unlimited Business Checking includes two basic checking accounts. ✅ 20 individual checking accounts with unique account and routing numbers ✅ Create an account in less than 10 minutes Sole proprietorships, partnerships, LLCs, S corporations, C corporations Small businesses wanting digital banking and lending online But affordability could be an issue if you don’t meet the monthly fee waiver requirements or choose the basic Checking account, which has fewer money-saving perks than the Unlimited Checking option. The Unlimited Checking-which has three checking accounts in total (one unlimited, two basic)-is best suited for a fast-scaling business with growing money-related tasks. Overall, Capital One’s Basic Checking account provides a quick way to start managing business finances. Plus, you’ll earn a promotional interest rate, guaranteed for the first 12 months.
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You can also make up to 6 free account withdrawals per monthly statement cycle. The monthly service fee is $3, which Capital One will cover, provided you maintain a $300 minimum balance. Savings account: This savings account allows you to put money aside for a rainy day. As an Unlimited Checking user, you’ll also get up to two Basic Checking accounts with no additional monthly service fees, no fee cash deposits and uncapped digital transactions. Capital One charges a $35 monthly service fee which they’ll remove if the previous 30- or 90-day balance averages $25,000 or more. Unlimited Checking: Created for small businesses wanting to take their banking up a notch. You’ll also be entitled to unlimited digital transactions with no fees.
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Users of the Basic Checking account can also deposit up to $5,000 in cash for free each month, with a $1 fee for every $1000 deposited over this threshold. The monthly service fee is $15, which you can have waived if the prior 30- or 90-day balance averages $2,000 or more. Let’s break these down:īasic Checking: This business bank account gets users back to the basics of small business banking. 💭 What is Capital One business banking? 🏦Ĭapital One has two banking options for small businesses and also offers a business saving account. That’s why we offer an online banking and cash flow management platform tackling mission-critical business tasks like spend management, saving, and bookkeeping.
Cash flow is so crucial that how you organize it determines whether you’ll have a smooth or rocky business journey. ( See pricing here.) The daily wins from using Relay snowball over time, driving more visibility, profits, and scale.įrom funding expansion to taking the edge off risk-taking, cash plays the most essential role in your business. And we’re upfront about any charges we do have. What also sets Relay apart is we don’t have monthly account fees, overdraft fees, minimum account balance requirements, or digital transaction charges.
No more nail-biting over financial record reconciliation-only crystal clear views into your money’s moves.
You can also delegate money management with role-based user permissions and save for tax season. This adds up to a perfect way to manage money through multi-account budgeting or with a system like Profit First. It's a platform designed to keep business owners on the money.įor example, with Relay, you can organize income, expenses and cash reserves using 20 checking accounts and issue up to 50 physical or virtual Visa debit cards. If you're running a business, Relay empowers you by giving you 20/20 vision 👁️👁️ when it comes to your day-to-day cash management. Picking the right business banking platform Wire transfer options and incidental fees Let's dive in! 🔦 Table of ContentsĪdditional banking services from Capital One We’ll shed some light on what each has to offer to help you make the best choice based on your business needs. In this article, we’ll weigh in on the Relay vs. The second, a traditional brick-and-mortar bank. traditional banking boxing match, you have two contenders: Relay and Capital One. Learn to manage cash with Relay in our live webinar and Q&Aīefore you, in the digital vs. Insights and advice for small business advisors Stay on the money with these actionable tools and strategies The money management platform built for you and your clientsīecome a Banking Partner to help your clients bank smarterĪdvisors share what makes their firm successful Review, approve and pay bills within business bankingĭirectly sync ultra-detailed transaction dataīusiness banking and payroll together at last Relay is the official banking platform for Profit FirstĪutomated savings that earn you 1% to 3% APY 1 Know precisely what you’re earning, spending and saving
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