Our business savings accounts offer competitive rates, low minimum balances and convenient extras. Grow your business with Seacoast, your local Florida financial experts.
Seacoast Business Savings Accounts
Business Money Market Account
Get great rates and easy access to funds. A Business Money Market Account typically earns more interest than a traditional Business Savings Account while offering convenience check-writing privileges. Pair it with Seacoast Business Checking for overdraft protection.
A no-hassle Business Savings Account that’s an excellent fit for business owners with one or multiple savings goals. This interest-bearing savings account includes free automatic transfers from your Seacoast Checking Account.
Lock in a great CD rate and watch your money grow effortlessly. Multiple Business CD terms are available, and the rate is guaranteed to remain fixed for the term.
A business savings account is specifically designed for businesses to set aside funds not needed for immediate expenses. It allows businesses to earn interest on their surplus of cash while keeping it separate from their primary operating funds.
Do I need a business savings account?
While not mandatory, having a business savings account can be highly beneficial. It helps you manage your cash flow by keeping your savings separate from your day-to-day operating funds. This separation can make it easier to save for taxes, emergencies or future investments.
How much should a business have in savings?
The amount a business should keep in savings depends on its size, industry and goals. A typical recommendation is to have at least three to six months' worth of operating expenses in savings to cover unexpected costs or downturns.
How much are the monthly fees associated with business savings accounts?
If you maintain a minimum daily balance of $500, you are not required to pay a monthly maintenance fee. The maintenance fee for accounts holding less than $500 daily is only $15 per month.
How do I open a savings account for my business?
To open a savings account for your business, you'll need to provide documentation such as your business license, tax identification number (EIN) and personal identification. This can be done in person at your nearest Seacoast Bank branch.
Can I deposit checks into my business savings account?
Yes, Seacoast's business savings accounts allow you to deposit checks into your account. You can use Remote Deposit Capture with your personal device to upload a photo of physical checks and deposit them directly into your account.
What is a business Money Market account?
A business Money Market account offers higher interest rates than a standard business savings account. It combines features of both savings and checking accounts, allowing you to earn interest on your balance while also providing check-writing and debit card capabilities.
Connect with a Local Banker.
Are you interested in contacting a local, Florida banker to discuss your individual financial needs? We’d love to speak with you. Schedule a consultation today.
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