My Bank Products
Central Bank Small Business Checking Account
- Central Bank Small Business Checking Account
- Financing Small Business through Central Bank
- Central Bank Small Businesses Lending
- Central Bank Business Lines of Credit
- Central Bank Business Equipment Leasing
- U.S. Small Business Administration (SBA) Loans
- Central Bank Business Credit Cards
Small business owners reach a critical phase of their development when they realize the importance of managing their cash flow in sustaining their growth. They also reach a point when they need to elevate the legitimacy of their business in the eyes of their customers, employees and business prospects. These are both momentous milestones in the growth of a business and also the two key indicators the business is ready for a small business checking account. A business checking account can do much more for business owners to ultimately pave the way to achieving more milestones, more quickly.
Advantages of a Central Bank Small Business Checking Account
Separate business and personal finances: There are a number of reasons why it’s important to maintain separate records for business and personal transactions. Perhaps the most important is that it will legitimatize your business in the eyes of the IRS. If your personal receipts and transactions are comingled with your business transactions, the IRS may question the legitimacy of your business and disallow deductions. From a practical standpoint, a separate checking account for your business will simplify your life and increase your efficiency in tracking and managing your business cash flow.
Make your life less taxing: Having a business checking account will reduce many of the costs associated with tax preparation and filing, including your actual tax bill. By having all of your business transactions and cash flow reporting available in a separate account, you will significantly reduce the amount of time spent in tax preparation saving accounting fees or freeing your time for running your business. Secondly, you’ll be less likely to miss out on any important deductions which could cost your business hundreds of dollars in additional taxes.
Elevate your business: A small business owner can only get so far using cash or a personal checking account for day-to-day transactions. Customers, vendors and employees will eventually begin to wonder if they are dealing with a legitimate business. Your business checks are a part of your brand and help form the professional image you want to convey.
Which Central Bank Small Business Checking Account is Right for Your Business?
Your business is unique, which is why it is important to work with a bank that offers a range of account options that can meet your specific needs as your business grows. The size of your business and its cash flow requirements are key determinants in choosing a business checking account. We offer several options that are designed to help you optimize your cash flow management with consideration for your business’ need for flexibility, liquidity and cost control.
Central Bank Free Small Business Checking Account: Designed for businesses that need just the basics, these accounts require no minimum deposits and no minimum account balances. Accounts are allowed up to 150 paper transactions at no cost. Free services include eStatement, Online Banking with BusinessLink, access to InfoLine 24 Banking, and a Central Bank CheckPlus Debit MasterCard® BusinessCard.
Central Bank Business Checking: This checking account is specially designed for sole proprietorships, partnerships, corporations, non-profit organizations, associations, and governments with greater transaction needs. While this account does charge a monthly maintenance fee*, it can be offset by Earned Credits generated from the daily collected balance in your account. Because of Central Bank’s superior check processing and check clearing capabilities, your account will have enhanced funds availability which can translate into lower account fees as a result of higher collected balances in your account.
Central Bank Business Checking with Interest: Designed for growing businesses, Central Bank’s premium Business Checking account is an interest-bearing checking account that combines the benefits of Business Checking with the interest-earning feature of a savings account. Monthly maintenance fees* can be offset by Earned Credits.
Additional Banking Services from Central Bank
All of Central Bank’s business checking options have additional services available, including Re$ubmitIt®, eDeposit, Bill Pay with BusinessLink and Direct Connect with Quicken® or QuickBooks®.
At the core of all of our business banking services is our enhanced online solution, BusinessLink, providing your business with one integrated point of access to support all banking needs, 24/7. In addition to viewing your business’ cash position and account activity in real time, it enables you to execute transactions such as transfers, bill pay, and stop payment requests. Customers can view check images online and store statements securely through eStatements. All of your information is protected with the latest Secure Sockets Layer (SSL) technology with EV SSL Certificates.
Central Bank CheckPlus Debit MasterCard® BusinessCard
It's a card that works like a check and makes managing your business easier. You can use Central Bank’s CheckPlus Debit MasterCard® BusinessCard to pay for your day-to-day business expenses, travel and entertainment, and bills instead of cash, checks or credit cards. The money is debited out of your business checking account that is linked to the card, with no interest charges or card fees. With PayPass, the MasterCard® contactless payment system, you can Tap & Go™ – simply tap your debit card on a PayPass enabled merchant terminal where you see this symbol.
For detailed information on any of our business checking services, contact a Central Bank business banker, phone or visit one of our convenient banking centers at a location near you.
We are members of FDIC so all deposits are insured up to $250,000 per depositor, per ownership category. To learn more about our FDIC membership, go to www.fdic.gov and search for our name under Bank Find.
**Monthly Maintenance Fee: Based on an analysis of actual daily average collected balanced and account activity