July 12, 2024

Why your business should have a savings account

older man with glasses smiling at phone with laptop in front of him

While transactional accounts and financing options are important for operational expenses, smart business owners understand the value of putting away money for future expenses. In business as in life, you never know what’s around the corner. Having savings provides financial cushioning and can boost your business forward. 

Here are 4 reasons to have a business savings account:

👉 Prepare for unexpected events

👉 Save for tax payments

👉 Earn interest

👉 Pay for major purchases

Quick Tip : The best way to get in the habit of saving it to automate it. Choose an amount, set it and forget it. Treating it like a business expense means you’re consistently adding to your savings without having to think about it. 

Visit our Business Savings Page to review account options. Stop in a banking center near you or visit our digital account opening page to learn what you need to open an account online.