While my weekly shopping produced little in the way of deals my banking paid off big time. When I deposited my Rite-Aid check last week, the subject of my business came up and after some scrutiny I sat down and opened a fee-free business checking, saving and credit card account. With the checking and credit card I will receive a $50 reward each and $20 reward for opening the savings. I had to put $25 in the checking and $5 in the savings.
I was reluctant to open a business account for fear that I would incur fees but because I have a personal account, there are no maintenance fees, my first checks are free (and will probably last a lifetime since I use the card and internet for transactions), I get an ATM card and the credit card has a 0% interest rate on balance transfers for 6 months.
This will certainly make life easier to have the business and personal finances separate (and no extra expenses). I'm equally excited about that as I am about the $120 I made for doing this. When I told my sister she decided to do this for her small business and I will make another $50 for the referral.
If you have a business and would like to do this but don't have a personal account at Bank of America, consider opening one. There are ways to avoid maintenance fees, just ask the tellers and managers.
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