![]() On the other hand, if you’re interested in a Capital One alternative that operates wholly online, you might consider either of the Axos Business Savings accounts. Ultimately, with three comparable options and a range of features, the Chase Business Savings accounts are worthwhile alternatives to Capital One if you’re looking for a business savings account from a traditional brick-and-mortar bank. The Chase CD has no monthly service fee and requires a $1,000 minimum deposit (which is the same as Capital One’s). The Chase Premier Business Savings account includes 30 monthly deposits, up to $10,000 in cash deposits, and higher interest rates with higher balances (or when linked to a Chase business checking account).įinally, the Chase Certificate of Deposit account offers a fixed rate of return, and might also allow for high return rates if you hold higher balances. This account has a monthly fee of $20, waived if you have a balance of $25,000 or more. The next option, the Premier Business Savings account will be a worthwhile option for businesses with higher balances. With this account, you’ll also receive 15 monthly deposited items at no charge, up to $5,000 in cash deposits per month with no fee, and a typical market rate APY. The monthly fee for this account will be $10, waived if you maintain a balance of $1,000 or more, or have linked a Chase business checking account. With this in mind, one of the best alternatives to consider is the Chase Business Savings suite.Ĭhase offers three business savings account options: Total Business Savings, Premier Business Savings, and a Certificate of Deposit.Ĭhase Total Business Savings is the best option for smaller businesses that will have lower account thresholds. With the Small Business CDs, on the other hand, your interest rate is locked in for the length of your term.īefore you decide whether a Capital One Business Savings account is right for your business, you’ll want to explore some top alternatives and see if there’s an option that will be a better fit. With an Advantage account, you can access a 12-month promotional APY and accrue a higher, fixed interest rate during this time. The Business Advantage Savings account is a great option for physical branch and cash access, while the Small Business CDs are perfect for earning the most on funds with little accessibility.Īdditionally, another advantage of these options, especially the two traditional business savings accounts, is the low minimum deposit requirements and low (or easily waivable) service fees.įinally, each of these Capital One Business Savings accounts allows you to earn above the average interest rate on your funds. ![]() So, what are the benefits of choosing one of these business savings accounts over the other options on the market? Let’s break down the pros and cons of these Capital One products.įirst, perhaps the biggest benefit of the Capital One Business Savings suite is that each option appeals to a different type of business owner and need. With all of this information in mind, you’re probably aware that Capital One isn’t the only bank for small businesses that offers savings accounts. We’ll also offer some top alternatives so that you have all of the information you need to decide which business savings account is right for you. In this review, we’ll break down each of the two Capital One Business Savings account options, discussing their fees, rates, and other features. ![]() So, what does Capital One have to offer for this type of business bank account? This being said, if you’re trying to find the right savings account for your business, you may start your search with Capital One-a traditional brick-and-mortar bank known for their wide range of small-business friendly products. In this case, you’ll want to look for the best savings account for your business. Compared to a business checking account, as you may already know, a business savings account allows you to accrue interest on the funds you store but limits your availability to withdraw and use those funds. As your business grows and progresses, you may find yourself with extra funds that you’d like to store away.
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