Are you looking for the best bank account for your Etsy business?
If you’re an Etsy seller, you know that managing your finances can be a challenge. You need a bank account that can help you manage your money and grow your business. But with so many options out there, it can be hard to know which one is right for you.
Don’t worry, I’ve got you covered. In this article, I’ll tell you everything you need to know about the best bank account for Etsy businesses.
Best Bank Account for Etsy Business
Novo is the best business checking account for Etsy businesses because they specifically cater to entrepreneurs and small businesses.
As a small business owner, you’ll love that there are no monthly fees or minimum balance requirements.
Plus, they’ll reimburse you for all ATM fees if you ever need to take out cash. They also offer tons of free perks and benefits for small business owners, like free online and mobile banking, free money transfers, and built-in integrations.
Novo also has a feature called Novo Boost which allows you to get paid faster at no additional cost.
Because of these great features, Novo is my top choice for a business checking account for Etsy.
If you’re looking for a free business checking account that can help you grow your Etsy shop, check out Novo. You can sign up for a Novo business checking account in just 10 minutes today!
Why You Need a Bank Account for Your Etsy Business
If you’re running an Etsy business, there are a few key reasons why you need to have a bank account for your business. A bank account is a necessity for any business, including an Etsy business.
It allows you to track your spending and income, which is essential for keeping your business organized and running smoothly.
In short, it’s an essential part of staying organized and keeping track of your finances, and can even help you budget your finances in the long run. So if you don’t have one already, be sure to open a bank account for your Etsy business today.
First, you need a business bank account to set up direct deposit so you can be paid for your Etsy sales.
Secondly, it helps to keep your personal and business finances separate. This can make it easier to track expenses and manage your business budget.
Finally, a business bank account can give you access to valuable tools and resources, like merchant services and lines of credit.
How to Choose the Right Account for Your Business
Etsy sellers have a lot of options when it comes to banking. With that said, not all banks are created equal.
If you’re thinking about setting up a business account for your Etsy shop, here are some things to consider:
-Does the bank offer a free business checking account?
-What products and services do the bank offer?
-How are they priced?
-What are the minimum balance requirements and fees for overdrafts or insufficient funds?
You also want an account that provides you with the services you need, such as the ability to deposit cash and checks.
And of course, it’s nice if your bank offers interest on your deposits and has ATMs near where you live or work.
The best banks for small businesses will offer low or no fees as well as the ability to deposit cash. You also want a bank that offers good customer service, so you can get help when you need it.
If you’re looking for a small business checking account, be sure to compare the fees and services offered by different banks. You should also consider what type of bank will best meet your needs.
Benefits of Using an Online Bank Account for Your Etsy Business
Online banks are also popular among Etsy sellers because they offer a number of benefits that traditional banks don’t.
The most obvious benefit is that you can save time by not having to visit a physical bank branch. This can be a huge time saver, especially if you have a busy schedule as a business owner.
Another big benefit is that online banks typically offer lower fees than traditional banks. This can be significant savings, particularly if you are processing a lot of transactions.
Online business checking accounts can also help you earn a little extra money by providing features such as earning a higher yield interest on your balance that traditional banks can’t provide because of their overhead.
Additionally, online banks often offer more flexible terms and conditions than traditional banks. This can be extremely helpful if you need to make a large purchase or need to access your funds quickly.
Finally, online banking can provide you with 24/7 access to your account. This is extremely convenient if you need to check your balance or make a transfer outside of normal business hours.
There are many benefits to choosing an online bank. If you are looking for a way to simplify your business banking, consider switching to an online bank.
Top Bank Accounts for Etsy Businesses
Novo
Novo has a business checking account that offers free transactions and no monthly fees. The account is designed for small businesses and is available to any business owner in the United States. The account has no minimum balance requirement.
You can access your bank accounts from anywhere easily using their online banking platform available on any computer or mobile device.
Bluevine
Like Novo, Bluevine is a business banking solution that offers a free business checking account with no monthly fees or minimum balance requirements.
Bluevine’s checking account is designed to help small businesses grow and offers free online banking, ATM deposits, free incoming wire transfers, and more. The account can be opened with as little as $0. Plus, eligible businesses can earn 1.5% interest with a Bluevine Business Checking for free.
NorthOne Business Banking
NorthOne is a hassle-free business banking account that lives on your phone. They offer business banking for a low monthly fee of $10. With this monthly fee, you get access to unlimited payments, deposits, transfers, custom rules, and app integrations.
Where NorthOne really comes in handy is that they have an integration with Etsy, so you can easily track all your sales.
A NorthOne business checking account can be opened in as little as 3 minutes online. No paperwork is necessary!
Axos Business Banking
Axos Bank offers their Basic Business Checking that caters specifically to small businesses. This checking account is designed for small businesses. No monthly maintenance fees and no minimum deposit is required to open an account (which is a huge perk!)
They also offer other checking accounts to fit the finance needs of your business. Check out all the checking accounts they offer for businesses here.
CIT Bank
CIT Bank is a great choice for Etsy sellers because it has no fees, offers free online banking and has flexible options for funding your account.
They also offer a number of perks, including no fees and the ability to deposit checks via mobile app.
You also have the ability to earn interest on your account balance and make unlimited deposits.
To get started, you can open a checking account for just $100.
Conclusion
Bank accounts are an important part of running an online business, and it’s important to choose one that is right for you. If you’re unsure which account type is right for your Etsy business, hopefully, the information above can help you narrow down your choices.
Once you get your bank account up and running, the next step is to think about how you want to manage your business finances. You can use a simple bookkeeping system or software program. Check out the best accounting software for your Etsy business here.
This post was all about the best business bank accounts for Etsy.
