How to Find Business Banking Online

When it comes to online business banking it is necessary to know what to look for when choosing a bank and enjoy the advantages of getting it right. A good relationship is essential in online business banking. It is important to invest time in choosing the right bank the first place.

Banks offer different business banking services and the fees they charge as well. Some have special teams who deal with business accounts and useful information for start up business.

Choose the right bank

Before making a decision it is a good idea to compare at least 2 banks though many people open their business account with the same bank that holds their personal account. Bank charges vary in the services they offer, so it is best if you compare and get the best all around deal. If you go online and search for business banking, use some business account finder to compare deals. You may even want to choose your business account on the bank’s ethical or religious standing – investment policies issues such as human rights and environmental responsibility.

When dealing with business banking, it is a good idea to ask about:

If the bank has a dedicated team for small businesses

Services they offer

Amount of services

How do they charge for each transaction

If there are additional charges (some banks charge if you exceed the overdraft limit)

If they have local branches – especially if you have to make transactions every week

If there are special offers for start up businesses or for new accounts.

Choose business banking account

Current Account- For frequent transactions includes payments or receipts. A good option if you pay interest and late payment fees on credit balances, but not all banks offer this.

Readily Access Deposit Account- Any cash not needed for frequent transactions. These can be put into your current account so you can check it anytime.

Term Deposit Account – for long term funds

Foreign Currency Account – for overseas trading

Loan Account – for taking out loans

Merchant Account – for businesses so you can accept credit and debit card payments and transactions.

All major banks nowadays offer online business banking. Doing it online is a more efficient way of managing your business accounts. You can check your balances and view statements, transfer money from one account to another, pay suppliers online, fix regular payments such as salaries and even request for chequebook and statements. You can also download your account information and print it out for analysis.

Online business banking is cost-effective. Banks offer online banking at no extra cost!

Most businesses manage their online business banking using internet banking, you can check your account from any computer using web browser. Larger businesses are offered PC banking and require them to install a special banking software on the computer. This is an effective solution for large volume of banking transactions and link directly your accounting system to your bank.

App Fog Genius Lessons From A Successful Entrepreneur

App Fog Business Startup Lessons from a Lucrative Entrepreneur

Lucas Carlson is a successful startup entrepreneur. When he first started however, he made a few bad choices that almost cost him big time.

Don’t Skip Business Setup Planning

At first he was just programming an idea for App Fog. He didn’t have a landing page, any bank account, brain storming ideas, or thinking about the ideal customers. Skipping key steps really put him back for years. He would program for weeks, and then finish the app idea. Then program for weeks and finish the idea. He couldn’t get people interested in the idea that was created.

Creating a Landing Page

Finally, he decided to create a landing page one night when he was too tired to sleep or even tell his wife about the programming idea. The app idea was PHP Fog. He tried putting it up on a site before that called Heroku.com. He registered the PHP Fog website and just simply wrote “it’s like Heroku for PHP”. Heroku’s site only allowed for Rudy on Rails applications so he couldn’t put the applications on that site.

Living the Dream

The next morning he woke up and had eight hundred people on his website! He didn’t market it anywhere else. All he did was put one link on Hacker News network. Also, he described the website in more depth. It turned out that the idea was a “hair on fire” idea without even the creation of the project! This gave him assurance that if the effort is put in, the results will be desired. After programming for two weeks. he just only had a prototype and the traffic went from 800 to 4,000 unique visitors per day!

Hair on Fire Problem Equals Confidence

He had identified a “hair on fire” problem. This gave him confidence to program the solution. This changed his life forever! He realized the difference between having a problem that people know they have versus the problems that people don’t know they have. PHP Fog wound up being AppFog. It raised $10 billion dollars and was later bought out.

No Marketing Expenses

He didn’t spend a dime on marketing! It wasn’t an accident. People already wanted the idea and were looking for it. He learned that he could find what people already wanted and then program an application based on what they wanted. He wasn’t taking a “shot in the dark” anymore.

Don’t be Intimidated

Creating a landing page or micro-website is very scary for most people. They don’t want to know if others like their great idea or not. There is a denial psychological part to this way of thinking. It can be self-defeating to the creation of an idea. They will think “Well I believe in the idea so much, that I don’t care what other people think about it”. This philosophy will kill a great idea. Put your “right foot first” and see what people need.

The Perks of Having Business Bank Accounts

Start-up businesses would often forego opening business bank accounts and opt to use their personal bank accounts instead. Why is this so? For one, opening a separate account may mean incurring additional expenses. Another thing is that new entrepreneurs would want to reduce risks andso they want to establish their business names first before considering account options. Some are also hesitant to open business bank accounts because they think that it would be too much of a hassle to deal with the legalities associated with opening a corporate account. But should you follow in their footsteps?

Advantages of Opening a Company Bank Accounts

There are in fact a lot of advantages of having business bank accounts. Here are some of them:

It organises your finances and makes it easier for you to check your income and expenditure for the year. If you don’t have a business account, it will prove to be more difficult and time-consuming since you will have to separate and distinguish the personal transactions from that of the business banking transactions.

Another advantage of having business bank accounts is that it gives your business a professional profile especially when it comes to transactions with customers. This also shows that you are serious and focus-oriented on the ends of the business. And besides, a guaranteed business account will also help speed up the day-to-day financial transactions that you have.

The edge of having a separate business bank account would be transparency in financial transactions and in declaration of income. The flow of income and expenses should be clear. This also further shows tax authorities that you are a responsible business owner because you uphold transparency in business transactions and can pay your taxes in a timely manner.

Having a company or business bank account will actually get you more perks than nuisance. Some banking institutions for example would offer free business banking for a year for start-up businesses. Some banks could also offer business accounting software to be used on their day-to-day business operations on finances.

Finally, it will be easier for you to apply for business loans if you have an active business bank account.
Online Banking at Its Peak

A great thing about the technological advancements available today is that banking can already be done online. Online banking has become a growing necessity for business people who are always on the go, thereby making financial transactions very easy and convenient, as everything is done on a virtual landscape and can be completed quickly. Online banking also provides you easy access to your business data and income, and helps you keep track of your expenses. The element of speedy transactions is magnified online as well because your borganisation now runs on your own time and not on banking hours. You can easily pay bills and receive funds in a secure and fast manner, no matter what time of the day it is. So, with common banking concerns at bay, the company can now focus more on other important matters like generating sales.