How to Open Up a Bank Account and Manage It Effectively for Your Small Business

Provide a basic overview of opening and managing a small business checking account and manage it effectively. Not all checking accounts are created equal. Some banks offer higher than average interest rates, while others offer accounts with no interest; some banks charge a monthly fee to keep your money with them, while others offer free checking accounts. Now that you have a checking account, it’s important that you manage it effectively. If you don’t keep on top of the money coming and going from your account, you risk the embarrassment and financial penalties that come from spending money you don’t have. Some tips: *Manage your account is important because you can forgo the possibility of financial embarrassment with overdrafts if not managed *Understand that the balance your bank statement says you have could actually be more than you really have. *Set-up online alerts for when your balance reaches a certain level. *Balance your checkbook monthly

Speaker(s): Lisa L Rolan and guest speaker SBA

Fee: No Cost