Comparing interest rates is an important part of choosing a business savings account. At many traditional banks, personal and business bank accounts have similar rates. You may find more ...

Business bank accounts may allow up to 500 transactions per month before a fee is applied. Consider how many transactions you’re likely to conduct in a given month when choosing an account.

Other charges could be cheaper. For instance, businesses pay $17 for outgoing domestic wire transfers sent online with Citi. For its standard personal account, those are $25 apiece.

To open a business bank account, you’ll need your personal contact information, your business name, Employer Identification Number (EIN) or Social Security number (SSN), business formation ...

U.S. bank account minimums typically range from $0 to $100. Remember that many traditional banks will charge a monthly fee, requiring customers to maintain higher minimums to avoid fees.

Opening a bank account is as simple as gathering the necessary documents and information and applying online or in person. It’s also ubiquitous: More than 98% of American households have one.