At Banterra, we provide business banking services that will help you manage your money and grow your business. Choosing the right business account could potentially help you optimize cash flow management and maximize growth. Continue reading for a breakdown of the different types of business bank accounts Banterra offers. 

Banterra Business Checking Accounts  

Our business checking accounts can help save you time when it comes to managing your money. Typically, business checking accounts are used for daily financial activities such as accepting payments and paying employees and should only be used for business transactions. At Banterra, we offer several business checking account options so you can choose the right one for your business needs. Our business checking account options and information are listed below. 

Free Business 

Banterra’s Free Business account is ideal for low transaction businesses, start-ups, and home-based businesses. With just a $100 minimum to open and no monthly fee, this is a suitable option for entrepreneurs and smaller establishments. Additional transaction fees apply as applicable. 

Basic Business 

Banterra’s Basic Business account is geared towards micro-businesses with growing transaction volume.  There’s no fee if a $1,500 minimum daily balance or $3,000 average monthly balance is maintained; otherwise, the monthly fee is only $7.50.  Additional transaction fees apply as applicable. 

Premium Business  

Businesses with a higher volume of transactions would benefit from Banterra’s Premium Business account. To open, you need a minimum of $500 and there’s no monthly fee if a $2,500 minimum daily balance or $7,500 average monthly balance is maintained; otherwise, the monthly fee is only $10. Additional transaction fees apply as applicable. 

Business Analysis  

Banterra’s Business Analysis account is perfect for businesses with high-transaction volume or Treasury Management needs. With Treasury Management, your business will gain a partner who is dedicated to understanding your business and ready to assist you with innovation Cash Management solutions including payments and receivables, remote deposits, sweep accounts and more. Click here for more information and to get to know our Treasury Management Team.  

Banterra Business Savings Accounts  

A business savings account can provide your business with a safe and secure place to grow funds for the future. Business savings accounts are helpful when long-term planning and can be used in events such as emergencies or the expansion of your business. At Banterra, we offer several business savings accounts that are highlighted below. 

Preferred Savings  

A Preferred Savings account is optimal for earning tiered interest on balances that may fluctuate over time.  The higher your account balance, the more interest you will earn. To open a Preferred Savings account, there is a $100 minimum. If the balance falls below $100, there is a $2 per statement cycle fee.  

Money Market  

Money Market accounts provide businesses with a low-risk investment option and are ideal for accounts with balances of $2,500 to $10,000. Banterra Money Market account has a minimum requirement of $2,500 to open and there’s no monthly fee if you maintain a minimum daily balance of $1,500 or a minimum average balance of $2,500; otherwise, it’s only $8.50 per statement cycle. 

Preferred Money Market 

If your business maintains a balance of $10,000 or higher, the Preferred Money Market is a great option due to its potential to earn more as your balance grows. $10,000 is the minimum balance to open this account and there’s no monthly fee if you maintain a $10,000 minimum daily balance in identified accounts; otherwise, it’s only $10 per statement cycle. 

Certificate of Deposit  

If you are looking for a specific term or rate, and have at least $1,000, a Certificate of Deposit (CD) can give you the flexibility you need while earning a higher interest rate than traditional savings accounts.  

 Certificate of Deposit Account Registry (CDARS®) 

CDARS® is the right option for you if you want a single statement yet have large deposits needing FDIC coverage through multiple banks. Visit our website to learn more.   

We are proud to provide helpful services and solutions to make business banking easy. To learn more about how our team and how Banterra can help your business, visit our website or reach out to a friendly Banterra representative to get started.