When is it time for a company to look for a new business checking account?
Actually there are several reasons for a company to look for a new checking account; some are specific to changes in the company and some are market driven. As a company grows or enters into new markets, transaction levels and types may change. These volume changes may increase the cost associated with a particular account and the transaction types may increase the company’s exposure to risk. This is the perfect time to investigate available alternatives. A second reason to consider a change is general changes in accounts offered by local financial institutions. New products and services are continually being introduced to the market, and it just makes good business sense to make sure you are getting the services you need at the most economical cost. What features should one expect in a business checking account? Specific features are somewhat dependent upon how the company receives and manages its cash flow. For example, a company that receives a large volume of smaller consumer payme
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