![]() Plus, Capital One doesn’t make you keep a very high account balance to waive its monthly maintenance fees. #Capital one powercard review free#It doesn’t charge transaction fees, for instance, and it gives you lots of free cash deposits. (We’ll talk more about those other products later in this review.) That can be more convenient than spreading financial accounts across many providers.īut Capital One has more affordable business bank accounts than many other traditional banks. Now that you’ve seen Capital One’s business bank accounts, let’s chat about what we think you’ll like about this bank.įor starters, Capital One has one of the benefits you get from many traditional banks: It has plenty of different financial products for your business.įrom checking accounts to savings accounts to business loans to merchant services to business credit cards, Capital One can do a lot for your business. But once more, you’ll have to chat with your business bank to get any details. It’s also worth noting that Capital One does also have business certificates of deposit (CDs) available. (Our rankings of the best high-yield savings accounts for small businesses will point you in the right direction.) And while Capital One’s promo rate beats rates from other traditional banks, you can find much better interest rates from online banks. That said, Capital One doesn’t publish its standard rates, so we can’t tell you what to expect after that promotional period. ![]() That’s a much higher rate than we see from many banks, which often offers rates closer to 0.02%. Right now, you get 0.2% interest for 12 months. Capital One locks in your interest rate for your first year. It also earns more than savings accounts from most traditional banks―or at least it can. Put simply, this is a very affordable account. While Capital One only offers details about Basic Checking and Unlimited Checking, it can help you with other kinds of business checking accounts:īut you have to talk with a Capital One banker to get any more information on those account options.Ĭapital One business savings comes with a very low monthly fee of just $3―and as long as you keep even $300 in your savings account, you won’t even have to pay that $3. Go over that, and you’ll need to switch to a commercial bank account. Take note, though: Capital One expects Unlimited Checking customers to make less than $40,000 in cash deposits per month. Unlimited Checking also gives you two complimentary Basic Checking accounts. Plus, you get five free outgoing domestic wires each month. You still don’t have transaction fees, but you also don’t have cash deposit fees or incoming wire transfers fees. This account has a higher monthly fee (waivable with a $25,000 average account balance), but you pay less in other fees. ![]() If you do more than very basic business banking, you might prefer Unlimited Checking. And if you need to send or receive a wire transfer, expect a domestic wire transfer fee of $15 for incoming wires and $25 for outgoing. After that, you’ll have a $1 per $1,000 fee. ![]() You don’t have to pay any transaction fees with Basic Checking, and you won’t have to pay cash deposit fees on your first $5,000 in cash deposits. ![]() It has a lower monthly fee, which you waive with just a $2,000 30- or 90- day average balance. As you can tell from the name, the Basic Checking account gives you just the essentials―no frills. ![]()
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