Easy-to-use checking accounts for your business

Checking Account

A checking account is necessary for managing the financial transactions of your small business. Zil offers a US-based checking account without monthly maintenance fees or minimum deposits. Transfer money between your accounts quickly and easily with same-day ACH and wire transfers. Furthermore, you can access your account anytime, anywhere, thanks to Zil's mobile banking and online banking services.

Your business finances can be managed from anywhere you are, regardless of whether you are at work, on the road, or working remotely. Small businesses find checking accounts convenient and cost-effective.This type of bank account is designed for everyday transactions. Checking accounts allow you to deposit and withdraw money as needed, and are typically used to administer a business's day-to-day finances.

Checking accounts are free, right?

There may be fees for certain services or transactions from various banks and financial institutions. Some offer free checking accounts, but with certain conditions, such as a minimum balance or direct deposit requirements. Before opening a checking account, it is wise to review its terms and conditions to understand the fees that may be associated with it.

In addition to what I previously mentioned, some online banks like Zil offer free checking accounts without any conditions. These accounts typically offer instant transfers of both domestic and international funds, as well as same-day transfers via ACH and wire.

Can you tell if online checking accounts have any fees?

• You may be charged a monthly maintenance fee by some online banks. The fee is usually $5-10, but it can be waived if you maintain a certain minimum balance or make a certain number of transactions.
• The fee for using an ATM that is not part of your bank's network may apply. Some online banks will reimburse you for the fee up to a certain amount each month.
• The overdraft fee can be as high as $35 per transaction if you spend more than you have in your account.
• Banks charge a fee for wire transfers, typically $10-15.
• Paying bills online or using a bill pay service may cost a fee from some banks.

There is no charge for creating an account with Zil and no hidden fees. Plus, there are no maintenance fees, so you can bank hassle-free. Plus, there is no minimum deposit.

Savings account vs. Checking account

An ATM or demand or transactional account is a type of bank account that allows for regular withdrawals and deposits of funds using checks, electronic deposits, or other methods.

Typically, these accounts offer lower interest rates compared to other types of bank accounts due to their intended use for everyday use. A savings account, on the other hand, is primarily used to save money and grow it. It usually has a limit on the number of withdrawals you can make every day, and offers a higher interest rate than a checking account.

In case you want to save money for a specific purpose, such as buying a house or paying for a child's education, it is a viable option. Savings accounts are popular because they are FDIC-insured, meaning that your money is protected to a certain amount in the event of the bank closing out of business.

The features of ZilBank's checking account

• A virtual card is an app that can be used to manage daily digital business spending online, similar to your physical bank card.
• Income, expenses, and taxes can all be tracked in multiple business bank accounts.
• Money can be sent and received using printed checks, eChecks, and check drafts.
• ACH and wire transfers are available the same day.
• The ability to issue multiple debit cards for your business on a single account allows you to keep a tight control on your business budget.
• By using Zil, you can open a fee-free business checking account online.
• Receive your paychecks early with Zil's direct deposit service and not be surprised by hidden fees.