Whether you are starting a new business journey or looking to shift accounts, Nebraska has a wide range of business checking account options. The challenge is to find the right one for you.
Start by comparing the basic account services. These include withdrawal and deposit services, in-branch, online and mobile banking services, check-writing, and bill payment services. Aim to find an account with services that meet your business needs.
Other factors to consider are the account fees, minimum requirements and transactional limits. Typical account fees include monthly maintenance fees, overdraft charges, and transactional charges. Consider accounts with no or low account fees or with the option to waive the fees if you meet certain requirements. Take special note of the account minimum balance requirements and transactional limits, as they may result in additional fees.
Most banks have attractive introductory offers and bonuses to attract new customers. For example, some banks offer free transactions for a certain period. Take advantage of these offers and any other extra benefits offered, such as free business tools and resources.
Shopping around and comparing available accounts can be time-consuming and a hassle. We have made the work easier for you by reviewing some of the available options based on their features, fees and benefits. Compare our top picks for the best business checking accounts in Nebraska to find the right account for you.
Relay offers a simple two-tier pricing plan. You can get started with no monthly fees and no account minimums. When you upgrade to the Pro plan, you’ll benefit from additional features such as free domestic and international wire transfers, or the ability to auto-import bills from QuickBooks and Xero.
Bluevine business checking comes with no monthly fees. Plus, the account provides an impressive list of benefits such as integration with online business tools, sub-accounts to help you manage your finances, and two free checkbooks.
Chase Business Complete Checking comes with Chase QuickAccept which allows card payments to be processed on your mobile device, so you receive deposits the same day to help manage cash flow within your business.
What we like
In person customer support (except Alaska & Hawaii)
Axos Bank business interest checking account earns a competitive rate for cash held within the account, and you'll get your $10 monthly fee waived by holding a minimum balance of $5,000. If you keep a decent amount of cash in your account, this could be an ideal account.
Lili’s business checking account comes with features that help users keep their banking costs low, optimize their taxes, and manage their business’s finances.
Novo allows easy integration with third-party accounting software, including Quickbooks and Xero. You can also link your Novo debit card to your Google Pay or Apple Pay Wallet. Novo also syncs with your Stripe processing account and easily integrates with Slack to get automated updates on your bank account.
If you are looking for a business checking account that is easy to use and with almost no fees, you might want to consider Novo. The bank account is also accessible in the app store for both iOS and Android devices.
What we like
Free ACH transfers, mailed checks, and incoming wires
NorthOne helps you manage your finances with its invoicing app, budgeting tool by creating an unlimited number of sub-accounts with the envelope functionality, and integrating with a suite of business tools and software.
What we like
Budgeting tool to help manage your finances
Smart integrations with business tools
Send invoices from the app
Low minimum deposit
No hidden fees
Unlimited transactions with no fee
What we don't
$10 monthly fee
No in persona customer support
Why do you need a business checking account?
The following are some of the most important reasons why you need a business checking account:
Fraud protection: You may have heard of identity theft or credit card fraud where an unauthorized person or persons gain access to someone’s credit or bank accounts with the intent of stealing money or goods and services. A separate account makes it more difficult for someone to steal both money and information about how you operate your finances.
Track cash flow: You can track how much money is coming into your business and where it’s going with greater accuracy when you use a separate bank account for your business. A good accounting software package can help you make sense of it all.
Separate personal and business finance: It’s easy to get confused about what is going into which bank account when you are paying bills or writing checks with the same bank account that holds your personal funds. When this happens, it’s easy to accidentally mix up money intended for one purpose with money intended for another purpose; doing so may cause you to pay some bills twice or not at all.
Better credit lines: Banks are more likely to offer higher loan amounts and lower interest rates to businesses than individuals.
Tax deductions: Businesses can deduct the cost of operating their accounts as a business expense on their income tax returns. If you are in business, talk with your tax professional to find out if you qualify. You can also check if your state offers any tax breaks for owning a small business.
Convenience: for ordinary people, the convenience is nothing more than an opportunity to make payments in any place and at any time, as well as to use cash dispensers and ATMs. Indeed, if you have a business checking account with your own card, you can use it anywhere in the world without problems, provided that there is an ATM or cash machine nearby. And even if there isn’t one nearby, the service will not be interrupted due to lack of cash – thanks to the unlimited number of free cash withdrawals that such an account usually offers.
What do you need to open a business checking account in Nebraska?
Here’s a list of the documents you will need to open a business checking account:
Proof of address (such as property tax statement or phone bill)
The articles of incorporation or certificate of formation or partnership agreement, if applicable.
DBA (Doing Business As) certificate
Proof of ownership of the business
Proof of identity
Proof of address and/or residency
Business license or the equivalent, if required by local law
Common business checking account fees in Nebraska
Not all business checking accounts have the same fees, but the ones that do have these charges tend to be among the most common:
Service charges: Some banks charge a per-check fee for business accounts, while others charge a flat fee each month. Assuming you use checks, these charges can add up quickly. If you’re not careful, they can eat up your earnings.
Monthly maintenance fees: These fees are charged regardless of how many transactions you make during a month. They range from $4 to $30 depending on the bank’s policy and services provided for the business checking account.
Overdraft fees: It’s not uncommon for businesses to overdraw their accounts by accident. Overdrafts are usually caused by unexpected expenses rather than poor bookkeeping practices. Overdrafts can occur when an account holder makes a purchase without enough funds in his checking account to cover it (sometimes called insufficient funds or NSF charge). Expect to pay a fee for each occurrence.
ATM usage fees: If you use another bank’s ATM to make a withdrawal from your business account, you may have to pay an ATM usage fee, usually between $2 and $5 per transaction.
Stop payment fees: This fee is charged when you request that a check be recalled for any reason, including if it hasn’t been cashed yet or an incorrect amount was written on the check. The fee also applies if the bank stops payment on an electronic debit transaction for any reason other than unauthorized activity.
How to choose the best business checking account in Nebraska
Business checking accounts come in a variety of flavors, so it can be hard to know which one is best for your business. Here are some things to consider as you look for the best business checking account:
Fees: Business checking account fees vary widely by institution, so compare them carefully before opening an account. Look for an institution with low or no monthly fees, and avoid those that charge per-check fees or monthly minimums.
Online banking: Online banking is standard for most business checking accounts today, but your business may need more robust online capabilities than an average small-business customer would need. If your company plans to do extensive work in the cloud, look for an institution with robust online tools and services.
Ease of access: Look for a checking account that offers 24/7 online banking services and other related features like mobile deposit and mobile check deposit. These types of services allow you to pay bills, transfer funds, and keep track of your money from anywhere at any time.
Access online information: When looking for a business checking account, you want to make sure it offers an online portal with accurate and up to date information about your account. A comprehensive website will also provide you with all the information that you need about the company as well as their policies and services.
Account features: Look at what comes with the account; some banks include extras such as mobile deposit and fee waivers for large transactions. Think about what you need and find an account that offers it all in one place.
