- 1). Determine the need for a business checking account. A bank---especially one without deposit minimums---will want to know the reason you're opening a business account.
- 2). Research banks that offer business accounts with no minimum deposits. Use the internet to conduct various searches.
- 3). Narrow your list of potential banks to two to three institutions. You do not want to apply to an inordinate number of banks---in some cases, applying for business checking requires a credit check (especially if you are not a current bank customer), and too many credit inquiries lowers your score.
- 4). Weigh the advantages and disadvantages of each bank. For example, if one bank offers high-interest savings accounts and free checks, and another offers no-fee transactions and free ATM usage worldwide, you'll need to determine what is more important to you and your business.
- 5). Choose the bank that best fits you and your business' needs. Make sure---prior to opening the account---to confirm that the business checking account does not require deposit minimums.
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