Online Banking

Business Savings Accounts

Are you considering opening a business savings account for your company? It’s a great way to stay prepared for the unexpected. And with a classic business savings account from Honor Bank, you get all the benefits and features you need.

And with flexible transactions and mobile banking available, you can manage your company’s funds from anywhere.

Why Should a Business Have a Savings Account? 

Business savings accounts provide more than just a safe place to keep a company’s “just-in-case” funds. Here are a few more great reasons to establish a savings account for your small business:

  • The ability to divide business funds between checking and savings can help keep an organization operating on budget.
  • A savings account is a great place to store funds to cover quarterly or annual tax bills.
  • Even though savings interest rates are trending low, seeing a little more money in that account each month is a nice perk.

  • Keeping money in a business savings account can improve credit scores and increase the chance of being approved for a business loan.

Want to know more about higher-interest savings accounts? Check out Honor Bank’s business money market accounts and business certificates of deposit.

Business Savings Account Details

Honor Bank is honored to serve the companies the people of northern Michigan rely on every day. We designed our business savings accounts to deliver all the essential benefits, including:

  • Six tiers of premium interest
  • Monthly pricing options
    • $5 per month for low-balance accounts
    • $0 monthly fee with a $100 minimum daily balance
  • Access to Honor Bank's Small Business Mobile App 
  • Free online banking and bill pay 
  • Free e-Statements and e-Notices
  • Access to your finds - unlimited in-person withdrawals1

 

How to Open a Business Savings Account with Honor Bank 

Ready to establish a small business savings account? Looking for a local bank you can trust to look out for you? Call Honor Bank today at 877.325.8031 or complete our online contact form. A member of our team will be happy to help.

 

1 Federal regulations limit certain types of withdrawals and transfers made from a savings or money market account to a combined total of six per account cycle.  This includes withdrawals made by check or draft to third parties; debit or ATM card point-of-sale (POS) purchases; and pre-authorized withdrawals such as automatic transfers for overdraft protection and transfers made by telephone, online banking, mobile banking, bill pay, wire and facsimile. See your account agreement for more information. Other limits may apply to your account, Excessive transactions may result in changing your Money Market or Savings account to a non-interest bearing checking account. Rates subject to change at any time without notice.
 

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