The bank’s Business Premium Savings Account with a high-yield 0.50%APY can be opened with a $25,000 minimum deposit. You can apply for the First Internet Bank Money Market Savings account online and quickly access their full suite of free online and mobile banking tools. Our list of the top 50 best business savings account interest rates is dominated by options which do not allow you access to your company money for three years or more. As you might suspect, though, the Money Market Savings account isn’t all peaches and cream. Its Business Advantage Savings account is actually one of the more lucrative ways to earn. Deposits (including cash deposits) are made at any Capital One ATM, using your Spark Business Debit card and PIN or with your Capital One mobile app, where you can snap a photo of a check and direct deposit it electronically. The best business bank account depends on the needs of your business. All Rights Reserved, California loans arranged pursuant to Department of Business Oversight Finance Lenders License Next on our list is an online business savings account from the original online-only bank, Axos. The Best Business Savings Account Options. The best interest rate currently available for an instant access business savings account is Shawbrook’s Easy Access account offering savers 1.05%. And if you’re interested, Bluevine also offers lines of credit and invoice factoring. What is a business savings account? The fact is: the best business savings account is the one that best suits your needs. You’ll likely be able to withdraw from your savings account through any ATM, but whether or not you’ll be charged extra for withdrawing through an ATM will depend on the bank you choose to open your business savings account with. A personal savings account – even an interest-bearing checking account — won’t help your business profile. Easy access accounts If you’re looking for the highest possible return, the account with the highest interest rates will be the best choice. Deposit money into a business savings account as a part of your business budget. What ID do I need to open a business bank account? It’s a checking account, but its high interest rate makes it top our list. Of course, interest rates change. As we mentioned above, with a straightforward business savings account, you’ll be able to withdraw from your account for free a certain number of times (depending on which savings account you decide to go with), as well as earn interest on your funds. Also if you already have another account with a bank, you may be able to open it online. Are you still unsure about the ins and outs of opening a business savings account? It’s advised to get one as a security precaution, however, as it can stand in place of your social security number on tax and financial documents you may need to provide to customers and vendors. A business savings account functions much the way a personal savings account does: you earn interest on the money you have in the account. With these options in mind, then, you have all of the knowledge you need to effectively search for a savings account and make the right decision for your company. The perfect savings companion to your day-to-day operating account. High yield business savings accounts offer interest rates that are well above your typical savings account. A US dollar business savings account can help grow your surplus USD funds when you don't need the cash for everyday business needs. When you’ve saved up enough working capital that you no longer need constant access to, you can safely grow it with reliable interest until a large purchase comes up. Once you decide which savings account is right for you, you’ll need to gather a few documents to open your account. To compare business savings accounts, it’s worth looking at a range of different factors from the type of account and eligibility to the interest rates on offer. With a CD, you leave the money in the investment vehicle for a few months or years in exchange for earning a fixed amount of interest. After assessing how a business savings account could help you and prioritizing what you’re looking for in one, let’s see what each has to offer. We've linked to others' comparisons for now, but let us know in the forum if it would be useful for us to do a full comparison of high-street business accounts. Unlike business checking accounts, business savings accounts are meant for you to store excess capital—and hopefully, with a high yield business savings account, grow your funds as you store them. Masthaven’s business savings account are simple to set up and easy to use. 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