Free business checking with mobile deposit

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Gemini
Posts: 912
Joined: Sun May 20, 2012 8:10 am

Free business checking with mobile deposit

Post by Gemini » Sat Jan 31, 2015 11:40 am

Can anyone recommend a totally free biz checking account with the ability to deposit checks via a cell phone?

I looked at some banks and didn't find any that met the criteria. I am okay with credit unions granted I am eligible for membership.

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Toons
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Joined: Fri Nov 21, 2008 10:20 am
Location: Hills of Tennessee

Re: Free business checking with mobile deposit

Post by Toons » Sat Jan 31, 2015 11:50 am

"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

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gasdoc
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Re: Free business checking with mobile deposit

Post by gasdoc » Sat Jan 31, 2015 2:21 pm

Although not really set up well for business use, I use a Vanguard money market fund for my business account. Advantages: 1) They helped me set up for easy transfers from my business account to my personal account (different tax ID so difficult at most banks). 2) They pay interest in the form of dividends- most banks that are no fee also pay no interest. I do not have very many transaction so I really just needed a place to direct deposit and hold the money for a short time each month.

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heartwood
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Re: Free business checking with mobile deposit

Post by heartwood » Sat Jan 31, 2015 2:45 pm

I use a Vanguard Advantage checking account within my Vanguard brokerage account, free for flagship. Free checks, free mobile deposit.

It took a bit to set it up because of the forms required, but it's working very well now.

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siamond
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Joined: Mon May 28, 2012 5:50 am

Re: Free business checking with mobile deposit

Post by siamond » Sat Jan 31, 2015 2:47 pm

Everbank.

davebarnes
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Joined: Wed Jan 02, 2008 7:06 pm
Location: Berkeley, Denver, Colorado USA

Credit Union

Post by davebarnes » Sat Jan 31, 2015 2:49 pm

My credit union since 1976.
http://www.DCU.org
A nerd living in Denver

TIAX
Posts: 1098
Joined: Sat Jan 11, 2014 12:19 pm

Re: Free business checking with mobile deposit

Post by TIAX » Sat Jan 31, 2015 3:09 pm

heartwood wrote:I use a Vanguard Advantage checking account within my Vanguard brokerage account, free for flagship. Free checks, free mobile deposit.

It took a bit to set it up because of the forms required, but it's working very well now.
Commingling personal and business assets in this way isn't the best idea.

Gemini
Posts: 912
Joined: Sun May 20, 2012 8:10 am

Re: Free business checking with mobile deposit

Post by Gemini » Sat Jan 31, 2015 5:47 pm

bkinder wrote:Although not really set up well for business use, I use a Vanguard money market fund for my business account. Advantages: 1) They helped me set up for easy transfers from my business account to my personal account (different tax ID so difficult at most banks). 2) They pay interest in the form of dividends- most banks that are no fee also pay no interest. I do not have very many transaction so I really just needed a place to direct deposit and hold the money for a short time each month.
I don't have any accounts with Vanguard besides a Roth, so I doubt I would qualify for this

Gemini
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Joined: Sun May 20, 2012 8:10 am

Re: Credit Union

Post by Gemini » Sat Jan 31, 2015 5:53 pm

davebarnes wrote:My credit union since 1976.
http://www.DCU.org

Came across a credit union : https://www.affinityfcu.com/business/bu ... index.aspx

They may do it. I guess I will call. Is one credit union "better" than another in any aspect?

Edit - came across the eligibility - All of the owners/principals/authorized signers who will be on the business account must be personal members of Affinity. - See more at: https://www.affinityfcu.com/business/bu ... JXWEF.dpuf

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heartwood
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Re: Free business checking with mobile deposit

Post by heartwood » Sat Jan 31, 2015 6:07 pm

TIAX wrote:
heartwood wrote:I use a Vanguard Advantage checking account within my Vanguard brokerage account, free for flagship. Free checks, free mobile deposit.

It took a bit to set it up because of the forms required, but it's working very well now.
Commingling personal and business assets in this way isn't the best idea.
It's not co-mingled. The business (LLC) account is a separate brokerage Advantage checking account with a money market mutual fund sweep account. Both are in the name of the business. Vanguard provides it free because of our flagship status, but it's entirely separate from any personal accounts. They provide similar free accounts for our trust and for my daughter who lives in another state. All separate accounts, no co-mingling, as a courtesy for our flagship status.

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gasdoc
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Re: Free business checking with mobile deposit

Post by gasdoc » Sat Jan 31, 2015 7:43 pm

heartwood wrote:It's not co-mingled. The business (LLC) account is a separate brokerage Advantage checking account with a money market mutual fund sweep account. Both are in the name of the business. Vanguard provides it free because of our flagship status, but it's entirely separate from any personal accounts. They provide similar free accounts for our trust and for my daughter who lives in another state. All separate accounts, no co-mingling, as a courtesy for our flagship status.
Ditto.

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