The Best Bank For Small Business Checking in North Florida
Find the business checking account that is right for you. When you choose Drummond Community Bank for a business checking account in North Florida, we make it easy to meet your business goals. Whether you’re looking for free business checking, a business money market account, or an interest-bearing checking account for your business, we can help you open a new account today.Benefits of Business Banking With Drummond
Drummond Community Bank was organized by a group of Chiefland business owners and we are devoted to supporting North Florida businesses with strong performance and exceptional service. When you do your business banking with us, you can expect:
- Free access to online banking for easy bill pay, money transfers, and more.
- Free business checking option with no minimum balance requirement.
- Rewards credit card option so you can redeem travel awards, gift cards, and more.
- A variety of business loan options such as equipment loans, ag financing, and more.
- Fast decision-making and funding
Access to helpful tools such as Remote Deposit Capture and credit card processing.
Open a small business checking account in North Florida!
Are you looking for the best bank for small business checking in North Florida? At Drummond Community Bank, our mission is simple. We strive to provide you with the very best banking services and sound business decisions all while giving back to the Florida
communities we serve. To you, we may just be a bank, but we’re a bank that wants to help you and your business grow. Learn more about our business banking services by visiting one of our branch locations in Bronson, Cedar Key, Chiefland,
Cross City, Crystal River, Gainesville, Lake City, Ocala, Trenton, and Williston!
Need Help Deciding?
If it’s your first time opening a business checking account or you’re unsure which option is right for you, we can help. The key to making a smart financial decision begins with understanding the benefits of each product and determining which
one meets your goals. Give us a call or visit your nearest Drummond branch.
FAQs About Business Checking
What is business checking?
A business checking account works the same way as a personal checking account. You can deposit and withdraw funds, make transfers and ACH payments, write checks, and more. The difference is that a business checking account should only be used for business-related
funds and transactions.
Do I need a business checking account for my small business?
All incorporated businesses are required by the IRS to have a business checking account, but sole proprietors can also benefit from separating business and personal finances.
Which bank is best for business checking?
If you seek a relationship and not just a bank, Drummond is here to serve you. We are different from most other financial institutions because we make it easy, act with a sense of urgency, and stay in touch to understand the changing needs of your business.
What is required to get a business checking account?
You’ll need to provide basic information about yourself and your business such as an EIN or Social Security number, business formation documents, ownership agreements, business license, and more.
Business Money Market Rates
| Products | Minimum to Obtain APY | Interest Rate | APY |
|---|---|---|---|
| $2,500 thru $49,999.99 | $2,500.00 | 0.05% | 0.05% |
| $50,000 thru $249,999.99 | $50,000.00 | 0.05% | 0.05% |
| $250,000 and greater | $250,000.00 | 0.05% | 0.05% |
Minimum opening deposit $1000. Annual percentage yields shown are compounding daily and fees may reduce earnings. A penalty may be imposed for early withdrawals, which could reduce the Annual Percentage Yield (APY). Rates are effective September 27, 2022. Rate subject to change without notice.
Checking Plus Rates
| Products | Minimum to Obtain APY | Interest Rate | APY |
|---|---|---|---|
| $2,500 and greater | $2,500.00 | 0.01% | 0.01% |
Minimum opening deposit $1000. Annual percentage yields shown are compounding daily and fees may reduce earnings. A penalty may be imposed for early withdrawals, which could reduce the Annual Percentage Yield (APY). Rates are effective September 27, 2022. Rate subject to change without notice.
Business Credit Cards
Credit cards can be an integral part of your daily business operations. Paying vendors and managing accounts payable is just the beginning.
