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If you are thinking about or have already started your own business, congratulations! Your ingenuity is what makes communities great.

In recent years, surveys have shown that about half of all Americans want to start their own business. However, owning a business means understanding how to manage the finances and accounts for your business. Every small business owner needs banking support, including ways to grow your money and have easy access to financial advice.

There are four essential banking services that every small business owner needs to make their lives easier: business checking with interest, treasury management, business credit cards and money market accounts.

1. Business Checking with Interest


Every small business should have a checking account that earns interest. You should be rewarded for financial responsibility in your business and keeping your account in the black.

However, most business checking accounts come with minimum balance requirements that outpace your typical cash flow as a small business. When comparing accounts, look for a low balance minimum and tiered interest rates, so the more successful you get, the greater your reward. Vantage Bank Texas offers a Business Checking with Interest (NOW) account that has a $1,500 minimum balance and 4 tiers to reward higher balances.

Another essential feature for a small business banking account with interest is mobile banking access. You have made everything mobile-friendly, from your website to your customer service to your purchasing. Why should your banking services be any different? You need to be able to manage your small business’s finances on-the-go with business mobile banking.

With a Business Mobile App from Vantage Bank Texas, you’re not only able to view balances and transfer funds between your Vantage Bank Texas business accounts, but also submit wire transfers and ACH single transfers from your established templates.

You can also approve wires or single ACH transactions straight from the app if your business uses dual business control.

2. Treasury Management


Keeping your small business banking services under one roof creates efficiency and makes accounting much simpler. Banking with only one institution for all of your banking services, including lockbox remittance, credit cards, remote deposits and even credit card merchant services will make recordkeeping easy. Combining all of these services to optimize all of your finances is called Treasury Management.

With Treasury Management online banking platform, you get a holistic perspective of all your business finances versus having a fragmented view when using multiple vendors.

Another great service to look for is overdraft protection, which sweeps all of your accounts to make funds available to cover your purchases. However, this service is only possible if your accounts and credit cards are all at one bank.

At Vantage Bank Texas, you can manage your business’ day-to-day cashflow and account balances with our convenient online Treasury Management, including:

  • Business online banking
  • Wire transfers
  • Remote deposit capture
  • Bill pay
  • ACH payments and collections
  • ACH blocks and filters
  • Positive pay

3. Business Credit Card


When you need to ensure all of your team members can make purchases, a business credit card is essential. A credit card with a low interest rate is great to have in an emergency when you may need to make a big, last-minute purchase. Having the option to earn points helps your credit card work for you so you can earn rewards on the things you already purchase.

Vantage Bank Texas Visa® and MasterCard® Business Credit Cards can give you a leg up on the competition. The cards have competitive rates and the option to earn points for every purchase.

4. Money Market Accounts


After becoming profitable, small business owners should consider investing some business income so your money can work for you. Many small business owners fail to invest for fear of risk or lack of planning for the long-term.

A money market account is one of the best ways to make smart investments with your small business income. These accounts earn at higher interest rates than your checking account and are FDIC-insured. Money markets minimize your risk because you have access to your money at any time. Plus, you can write checks from your money market account.

Getting started with your own small business has enough obstacles. These banking service tools can help your small business hit the ground running. Tools like an interest-earning business checking accounts, treasury management, business credit cards and money market accounts will do the work for you so you can focus on growing your business.