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Friday, December 16, 2005

Best Business Bank in the Northeast

Selling books online is a business and businesses need separate banking and lending accounts. It doesn't really matter what the size of your operation is, you can now do your banking and borrowing for free. This is a great way to track expenses and keep your accountant happy. I have two recommendations in this regard.

I absolutely love my Citizens Bank account. They offer exceptional service and a great online banking center. I have to restate the service part, their tellers and agents are really some of the friendliest bank employees I have ever met. My account is free up to 200 transactions. It doesn't seem like a lot, but most of my deposits are consolidated already through Paypal. Not only that if you may a deposit through the ATM, it does not count toward the 200. Unfortunately, they do only exist in the Northeast.

Before I mention my next favorite, I do want to say that we are an affiliate of American Express. I really enjoy the American Express business credit cards. In the past, they have helped me sustain growth in our business when our cash flow management was less than efficient. The key for small businesses is to find a no fee card with an extended 0% APR introductory rate. We've had a good experience with the Platinum Business Card. I like it for small businesses because it offers a 12 month 0% APR, a solid (free) rewards program, no annual fee, and easy set-up even for new sole proprietor business. The one con for AMEX cards is that they are not quite as universal as Visa (although we've never had a problem). The Platinum Business Credit Card
from American Express, No Annual Fee - 0% intro APR - Pay Over Time