Once you have your new business checking account, start issuing checks from the account as soon as possible. This could delay payments to customers and vendors, cause aggravation, and possibly damage your business. Once your account is closed, the bank will return any checks that arrive at the bank. When closing a business bank account, you must ensure that all issued checks have cleared your account before closing.
Step 2: Make Sure All Outstanding Checks Have Cleared When you pick one, see our guide on how to open a business bank account.īank of America is an excellent choice for a new business bank account, with up to $500 in cash back and statement credit bonuses with a new account and qualifying activities.
If you haven’t chosen a new bank, check out our list of the leading small business checking accounts. Step 1: Open a New Business Checking AccountĪs long as your business isn’t dissolving, you’ll need a new business checking account, one that serves your business needs, before closing your old one.
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