Topic 5: Start Menu - Business Checks

Did you get your Business licenses in order? Fantastic!

Your next step to starting your business is to set up your banking account and to order checks. 

You can order checks on-line here:

www.tinyurl.com/sbo-checks

   TODAY’S TOPIC:  
  Business Checks

How do you set up your business bank account?

The first thing you want to do is to choose what kind of bank you want to handle your business accounts. You need to figure out what is important to you and to the success of your business: 

    1) Location 

• On-line or local
• International or domestic
• ATM accessibility

2) Banking fees and costs
3) Interest bearing checking
4) Online bill pay and transfers
5) Minimum balance requirements
6) Bank stability and reputation
7) Credit availability and service

I chose a local credit union. The credit union is member owned and not for profit. I originally used a regular bank, and I had to pay monthly fees. Now, I get paid a little interest on my money instead, so I can put my dollars to better use. My credit union is tied into a network of credit unions, so there is an ATM network available nationwide. I can pay all my bills online, transfer funds, and do everything I need right from my computer at home.

What will I need to open my account?

Typically, you will need to bring the following to your bank of choice when you want to set up an account:

1. Articles of Incorporation
2. A copy of your business license
3. A certificate of a corporation in good standing
4. Your EIN number
5. Your personal ID
6. Anyone who will be co-signing

What about business checks?

You can order checks on-line here:

www.tinyurl.com/sbo-checks

  

Usually, the bank gives you a set of starter checks. I choose not to order my checks directly from the bank, as this is usually offered at a premium price. Instead, I like to shop on-line and order my checks that way. Be sure to have the following ready when you order:

1. Your bank's routing number
2. Your bank account number
3. Your logo or picture

I prefer to order my checks with my photo printed directly on it, so no one can fake being me.

I also like leaving a personal message on my checks, just above my signature. It usually says something to show my appreciation, like “Thanks for Doing Business,” or “Your Business is Appreciated,” or “With Gratitude,".

I also like to get checks with carbon duplicates. It's a great way to help keep yourself organized.

You can order checks on-line here:

www.tinyurl.com/sbo-checks

That's it for today! 

Here’s to your success – Because your success is my success!
Trina R Sellers