Online Checking

Having an online checking account offers you many benefits-including the potential for better terms because of lower operating costs of the bank-but there may be some limitations too. Some things to consider before setting up an online checking account.

Ease (and cost) of accessing your money. Is there an ATM network you can use for free withdrawals, or does the bank refund you ATM fees incurred?

Ease of transfers between your checking account and linked savings accounts. Ask the bank how long it takes for transferred funds to be available.

Ease of depositing funds. Do you have to mail in checks for deposit? If that’s not quick enough for you, does the bank offer alternate ways of making deposits that are faster?

These benefits are, in many cases, unavailable to sole proprietorships and general partnerships. Creating an LLC typically provides the business owner with the following advantages: