There are a myriad challenges associated with owning a business whether it is setting up LLC in India or another business structure. You may need to be on the helm of the affairs with so many things that your head might start spinning eventually. For instance, you have to handle the issues of taxes, payroll, inventory, accounts receivable and payable along with sales and marketing. To make the finances smoother and better, here is a list of seven business checking accounts for obtaining more opportunities while setting up the business.
1.Chase Total Business Checking
If you are looking for the best business checking account when setting up business in India, this checking option can fulfill your needs appropriately. Certainly, it is one of the best names with several branches. The only thing you must remember while considering the bank is the monthly deposit or a daily balance you have to maintain. If your business kicks off smoothly and you get going with a good start, it is going to generate good revenue. When you are unable to pay the fees during the first month, you have to call them and you can get lucky enough to get the fees waives. Based on the way you accept transactions, there may be some fees associated with the account.
2.Wells Fargo Business Choice Checking
This is another business checking account that is appropriate for the LLC structure. That provide you with two hundred monthly transactions, a certain limit if cash deposit, and a low monthly fee. However, if you want to avoid the monthly fee, you may have to consider availing additional services from them such as signing up for their business services, maintaining a minimum balance and about ten debit card purchases every month. Moreover, you do not have to worry about the branch locations as the network is wide.
3.Bank of America Business Checking Account
This is another bank that offers massive services for business setup in India, especially, for the LLC structures. When your business generates good revenue, and you can maintain a minimum balance in the account, the bank will waive the monthly fee. If you want to make it your business checking account, you can also download the app in your mobile phone and utilize the services from any location and pay the bills directly.
4.US Bank Silver Business Checking
This is a strong contender when you weigh the features of the other business checking accounts and what’s more you can carry out about 150 monthly transaction through this account without paying any monthly fee at all. When you go over this limit, you have to pay a meagre amount per transaction. With three thousand branches spread across 28 states, it is a convenient option as a business checking account.
5.Capital One Spark Business Checking
If you are not worried about having a physical branch nearby, the Capital One Spark Business Checking is one of the options to choose. For instance, if your business collects money electronically, and does not accept cash, this is a convenient option. If you can maintain a minimum balance, they are going to waive the monthly fees as well. In reality, you do not need to pay any transaction fees, but engage in unlimited transactions every month. Try to find out whether it is the right business checking option for setting up LLP in India. Apart from this, you can also download the app of this business checking account on your mobile phone, if you want to access it on the go.
With a multitude of branches, this bank is going to allow you to establish a lot with its digital features. The checking accounts of this bank are unique and merge as a good option for the small business owners. You can check the features of all the four checking accounts of this bank before choosing it for your business setup.
This is a digital bank and offer an array of solutions for small businesses. For checking accounts, you can rely on arrange of features they offer to the small businesses.
Think and decide
The requirement of each business owner differs when they plan India entry strategy for setting up an LLC structure. Due to the soaring fees for the business checking accounts, people planning to start their first business must zero in on the options before finalizing the decision.
Amy Jones is the lead legal expert at Ahlawat & Associates-top law firms in India. She is a passionate writer and loves to help people in all aspects of business law.