Small Business Savings

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Small Business Savings

Maximize cash flow and return by having the right small business checking account. These pages are developed on an ongoing basis. Please revisit or bookmark, for updates.

ACCOUNT PURPOSE	CHARACTERISTICS	BENEFITS
Small Business Money Market Savings	• Designed for maintaining higher account balances in excess of routine checkbook transactions • Allows for earning interest while also retaining convenient access to funds	• Typically earn premium interest rates that increase with account balances • Monthly fees may be waived relative to maintaining certain monthly balances • Monthly statements can be consolidated with other accounts to make managing finances easier • Multiple account access usually available via ATM, telephone, and/or free online banking services • Limits on number of monthly transactions including deposits, withdrawals, transfers and checking transactions
Small Business Basic Savings	• Allows for earning interest on excess balances • Provides convenient access to funds	• Monthly fees may be waived relative to maintaining certain monthly balances • Monthly statements can be consolidated with other accounts to make managing finances easier • Overdraft protection available via link to your checking account • Account access via free online banking services • Limits on number of monthly transactions including deposits, withdrawals, transfers and checking transactions
Small Business CDs (Certificates of Deposit)	• Provides guaranteed fixed return on funds deposited • Appropriate for excess business funds not requiring access over a specified period of time	• CD's typically earn competitive interest rates • CD's offer a variety of terms to choose from
Small Business Savings Overdraft Protection	• Accompany's a small business money market savings account • Offers low funds transfer fees	• Typically requires no monthly fee • Funds are automatically transfered from savings to checking for overdraft protection • Monthly statements reflect a summary of overdraft transfer transactions

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Note: This information has been compiled by Knowledge Institute for educational purposes only in order to convey a general overview of the options and related services available to small businesses in the subject areas introduced. Content is provided on an "as is" basis and is not intended to be an exhaustive representation, nor does it provide advice or create a customer relationship between Knowledge Institute, buzgate.org, its affiliates and any other organization named herein, and any reader.

BUZGate.org is an award-winning entrepreneurial education and resource community serving small and medium-sized businesses. Content promotes awareness and access to free government and nonprofit assistance programs and select business-to-business products and services tailored to driving venture startup, growth and profitability.

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