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What is the best small business checking account in NJ?

ghurty 165 26 September 4, 2011 at 02:27 PM

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What is the best free small business checking account available in the NJ area?

I currently have an account with Chase, but would like to expand to a different bank.

I won't be writing that many checks, mainly going to be using the account to receive payments via check and bank transfer as well as pay bills online.




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I don't have any specific suggestions, but I can give you some guidance on what you should look for in general and how to handle your account.

Look for a credit union to open an account with. If you're not able to go that route, find a small, local bank. You will get FAR better customer service than you will from a mega-bank. Mega-banks do . . . not . . . care . . . about you. Credit unions and small, local banks are much easier to get loans and lines of credit from for a small business than mega-banks are.

Also, if you have a checkbook for your business, keep it under lock and key (literally) with a written procedure on how you protect your checkbook from mischief. You are not protected under federal law if someone steals your checkbook (or just the routing number) and empties your account. There is no protection under federal law that limits your exposure. If you cannot show that you took proper steps to protect your checkbook, you can be left with $0.00.

Last, do not get a credit card for your business. You will still be personally liable for the card, but you are not afforded the same protections under federal law that you are with a personal credit card. Instead of getting a business credit card, just get a personal card instead that you use for nothing but business-related purchases and pay it out of the business account.
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