If you’re running a small business or looking to separate your personal finances from the company, it’s vital to have a reliable place for handling your money. Fortunately, there are plenty of options for opening a guaranteed business bank account no credit check. The best ones offer low, near-zero fees and a broad set of services that meet the needs of most small businesses.
Which account is best for business?
However, some of these accounts can be difficult to open if you have a poor banking history. Most business banking applications are screened by the bank’s risk department, which analyzes your current and past accounts for activities like overdrafts, bounced checks, unpaid credit card bills, and more. If you have a poor history with these accounts, it’s important to clean up your credit before applying for a new one.
In addition to checking your credit, banks may also run a report on the business itself. This is typically done to ensure that the business is registered and operating legally, and it’s an important step if you want to open a corporate account for your company.
Whether you’re cleaning up your personal credit or just need to open a basic business account, these are some of the best options for guaranteed business bank accounts no credit check. Woodforest National Bank, BBVA Compass Bank, Chime Bank, and many other large national and local banks offer second chance accounts to help people with a poor banking history get approved for a business account. Other alternatives include secured business credit cards, which require you to put down a security deposit that becomes the credit limit for your account.