For entrepreneurs, Bank of America provides two checking account choices, each tailored to a distinct phase of development. For organizations with low, moderate, and high incomes, Bank of America Business Advantage FundamentalsTM Banking and Bank of America Business Advantage Relationship Banking feature two distinct monthly fees (plus methods to reduce) & minimum balance limits.
Independent company owners and huge businesses, like individual customers, require a bank to store their funds, despite their more sophisticated finances. However, just because you operate a business doesn’t imply you want to spend exorbitant monthly banking expenses.
Bank of America Business Advantage FundamentalsTM Banking or Bank of America Business Advantage Relationship Banking are good options for businesses with up to $15,000 in monthly cash transactions. Business Advantage Fundamentals includes a few additional features, such as the ability to create one additional checking account for workers (as well as other uses) at no additional expense, as well as incentives to assist active businesses to manage their finances.
Bank Of America Business Account Features
Improve the efficiency and effectiveness of your business while protecting your money easy and safe. Accessibility to your account is safe and simple.
- Scheduled transactions and actual balance information
- View cheque and account statements online for the previous 12 months of operations.
- Online checking and savings reports for 18 months, with a paperless alternative
- Automatically connect activities with QuickBooks Online or download transactions to QuickBooks Desktop alerting you of account changes and developments
- Cheque and debit slip reordering, as well as cheque non-refundable deposit, are all self-service account demands.
- Integrate your checking, savings, CDs, loans, credit lines, and credit cards.
- Online security that meets industry standards
- A Dun & Bradstreet company credit score is free and available.
- Transfer electronic payments and cheques to businesses and people on a one-time or regular basis.
- Get electronic invoices from certain businesses and receive email reminders when a payment is made.
- You can transfer funds the same day or make payments the next or subsequent working day, either in or out of the United States.
- You can also send funds to your Bank of America consumer checking account from your checking or brokerage accounts at other financial firms.
Benefits Of Having A Bank Of America Business Account
You spend much less time worrying the minor issues and more time expanding your business with their all-in-one services.
- Allow your consumers to pay with a variety of methods, including credit and debit cards, wireless, scanning, and keyed transactions.
- At no extra charge, they lead to innovative data protection in all of their products.
- Develop, improve, and enhance a system that suits your specific needs now and in the long term, whether you’re on the go, shopping in a store, or shopping online.
- With 24/7 live technical support, you can relax knowing you’ll get help should you need it.
- They have a smart POS system that operates beyond transactions to efficiently handle accounting, workers, inventories, and more, you can take care of time-consuming administrative activities.
- With portable contactless payments and their Mobile Point of Sale Solution, you can meet your consumers wherever they are.
- Get up to a 0.10 per cent discount on your Merchant Services. Preferred Benefits for Business has a streamlined priced assessment rate, as well as extra program discounts and promotions.
- When you have a Bank of America business checking account, you can have funds as soon as the next business day.
Which Business Checking And Savings Account Can I Access
With Business Advantage 360, you can see these business checking and savings accounts:
- Business Advantage Relationship Banking
- Business Advantage Fundamentals™ Banking
- Business Advantage Savings
- Certificates of Deposit
- Business Investment Account
- Business Economy Checking
- Business Interest Checking
- Full Analysis Business Checking
- Analyzed Business Interest Checking
- Analyzed Business Investment Account
Bank Of America Login Business
To login into your Bank of America business account visit bankofamerica.com/smallbusiness, on the top left corner of the website you will see a login box asking you to provide your User ID and Password.
Is It Possible To See Both My Business And Personal Accounts At The Same Time?
You select a User ID when you sign up for Small Business online banking. Online banking enables users to access accounts linked to their User ID. You can merge a Business Checking account with a personal account using the same ID if you are a sole owner utilizing your Social Security number as your Tax ID number.
You can link numerous individual accounts or several company accounts with a single User ID if you are not a sole owner, but you cannot combine personal and business accounts with the same User ID. Kindly contact Customer Support at 1.866.758.5972 if you require an extra User ID.
Is There A Limit On Many Bills I Can Pay Within Small Business Online Banking?
No, there is no limit to the number of bills you can pay.
What Is A Payee In Small Business Online Banking?
A payee is a company or person to whom you send money via Small Business Online Banking. Using the Add a Payee tool, you may build a list of your own payees. Electricity, department shops, credit cards, and other businesses can all be added as payees. Individual payees, such as your caregiver, doctor, or family, can also be added.
How Long Does It Take For A Payment To Reach My Payee?
We advise that you submit your payments at least 5 working days prior to the final payment deadline. Planning payments far enough ahead of the bill’s due date gives the recipient adequate time to receive the money and credit it to your bank.
What Account Services Are Available To Me Online?
Customers may use Small Business Online Banking to access a number of self-service services. These services are available through Online Banking’s Help & Assistance tab:
- Reorder checks.
- Obtain a stop payment order for certain checks.
- Request check copies.
- Account statements should be ordered.
- Change your mailing address.
- For your Bank of America personal credit card, you can request a balance transfer.
- Give your checking and savings accounts aliases.
How Can I Change My Password?
Log in to Online Banking and go to Security Center to reset your password at any time.
Can I Change My Phone Number, E-mail Address or Mailing Address?
Yes. Go to Profile & Settings to alter your phone number, postal address, or email address.
Is Small Business Online Banking Secure?
Yes. Bank of America is intent on keeping Small Business Online Banking safe and protected so you can manage your account information with confidence. Online Banking also uses encryption to protect your banking information.
They automatically log you out of the Online Banking account after 10 minutes of inactivity to help preserve your security while you are using the service.
What Security Measures Does Small Business Online Banking Use?
For data transit, Online Banking employs industry-standard procedures that rely on protection. The information being exchanged across your browser and Bank of America is encrypted, creating a safe space.
These security methods safeguard information in three ways:
Authentication guarantees that you’re talking to the right server. This makes it impossible for another computer to impersonate Bank of America.
Encryption scrambles sent data to prevent sensitive material from being intercepted and to ensure that only the server to which the data is being sent can read it.
Data integrity ensures that the information you submitted to Bank of America was not tampered with during transmission. If data was added or removed after you submitted the message, the system will notice it. The connection is dropped if there has been any manipulation.
Can I Set Up Online Alerts Or Notifications Related To My Account?
Yes. You may set up online notifications to inform you of crucial occurrences involving your checking account. You may, for instance, set up a message to notify you via email when direct money is transferred to your account or when your account balance falls under a certain threshold. Log in to Small Business Online Banking, pick Profile & Settings, and then hit on the Alert settings link to set up these notifications.