Rehoboth Business Center

In addition to your checking account, you may also wish to consider other types of accounts such as savings, money market, CDs, etc. The interest rates are the lowest on regular savings accounts. They are usually higher on money market, C.D and other special accounts. Some have limits and withdrawals before specified dates may impose penalties. Some are more liquid and a limited number of checks can be drawn on the account without penalty as long as you maintain a minimum balance. The earnings are usually proportionate to the length of time for which your funds are committed.

Keep in mind that all accounts need not be at the same financial institution. However, it only makes sense that the amount of business you do with any one bank will be directly proportional to the benefits you will derive from it. Be sure to look at the stability of the bank you are considering. You will want to feel secure that tomorrow morning when you wake up that your funds will still be available to you.

A good banking record, along with the establishment of rapport with management and personnel of your bank, may get you special concessions. For example, the hold on your deposits may be waived if the management so desires or notary services may be extended for free as a courtesy. If you already have a bank with which you have been satisfied, you may wish to deal where you already have the advantage of being known by them as a valued customer.

Banking is serious business. Selection of the right bank and the right kinds of services will be a definite asset to your business.

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