How to Choose the Right Business Checking Account Video

Transcript:

Did you know choosing the right business checking account can help you better manage your business’s cash flow? To choose the right account, it’s important to know what’s included, how you plan to make and receive payments, and how to manage account fees. So how do you choose between the options available?  

First, assess your monthly transactions. What are the type and number of transactions your business needs to make and receive each month?

With most business checking accounts, certain transactions are unlimited, like Wells Fargo Business Bill Pay and business debit card payments. Others, like checks you deposit, count towards the number of transactions included at no additional charge.

Next, consider your monthly cash deposits. Cash handling is an important accounting service that requires additional resources for security and accuracy.  That’s why we offer accounts designed to handle different amounts of cash deposits, depending on your needs.  

Regardless of the number of transactions and how much cash you process each month, Wells Fargo offers the right accounts for you. The Business Choice checking account offers enough monthly transactions and cash deposits for most businesses, as well as multiple options to avoid the monthly service fee. If you have greater account activity, the Platinum business checking account includes more transactions and cash deposits, while also offering options to avoid the monthly service fee.  

Just like going over data or minutes in your phone plan, you might start exceeding what’s included in your account and begin incurring excess activity fees. That’s why it’s so important to work with your banker to choose the right account to meet your needs and understand what’s included.  

To learn more about account options and the transactions and cash deposits included, visit Wells Fargo.com/Biz/checking.  

For existing customers looking to effectively manage account fees, review your monthly service fee and account transactions fees summaries on your statement. You can also review our Business Account Fee and Information Schedule. If your business has greater cash flow management needs than your current account provides, talk to your banker about other cash flow management solutions to efficiently and cost effectively make and receive payments.