Choosing the best bank is an important choice when it comes to handling finances for small businesses. Choosing the right bank for your company’s needs might be overwhelming with so many options available. KeyBank, a local bank that offers financial services to small businesses, is one alternative that sticks out. We will examine which other banks allow you to open a business account online and whether KeyBank is a decent option for small businesses in this post.
Located mostly in the Northeast, Midwest, and Pacific Northwest of the United States, KeyBank is a regional bank. The bank provides a range of financial services, such as credit cards, loans, lines of credit, checking and savings accounts, and more. Despite not being a national bank, KeyBank has more than 1,100 locations and 1,500 ATMs across 16 states, making it a practical choice for small businesses in certain areas.
The fact that KeyBank concentrates on small business banking is one of its benefits. The bank offers a Business Interest Checking account that pays interest on account balances as well as a Small Business Checking account that has no monthly fees. Additionally, KeyBank offers a selection of loan products, such as SBA loans, lines of credit, and loans for commercial real estate. To assist small businesses in managing their funds more effectively, the bank also provides merchant services, payroll options, and cash management services.
KeyBank’s internet banking system is an additional perk. Small company owners may manage their accounts, pay invoices, and transfer money from any location with an internet connection thanks to the bank’s online banking system. Users may check account balances, deposit checks, and pay bills while on the road with KeyBank’s mobile banking app.
Despite KeyBank’s many benefits, there are a few negatives to take into account. The bank’s restricted geographic reach is one of its main problems. Small businesses outside of the 16 states where KeyBank conducts business won’t be able to use its services. Customers have also complained about poor customer service and excessive costs.
Overall, your particular requirements and preferences will determine whether KeyBank is a good fit for your small business. Businesses located in the bank’s service areas can benefit from its focus on small business banking, variety of financial services, and internet banking platform. However, firms outside of such locations might need to think about other alternatives.
There are several choices if you’re seeking for alternative banks that let you open a business account online. Capital One, Chase, Bank of America, and Wells Fargo are a few of the best banks for online business banking. These banks enable customers to open accounts online and provide a variety of business checking and savings accounts in addition to other financial services. To pick the bank that is the best fit for your small business, make sure to examine the features and costs of each one.