Skip to content
hollywoodstarshoney

hollywoodstarshoney

Long Life Business

Primary Menu
  • Business Management
  • Business Analysis
  • News Business
  • Investment
  • Insurance
  • Banking
  • About Us
    • Privacy Policy
    • Contact Us
    • Advertise Here
    • Sitemap
  • Home
  • Capital One Spark Business Checking Review 2022
  • Business Banking

Capital One Spark Business Checking Review 2022

By Patricia A. Eldridge 1 year ago

Who is Capital One Spark Business Basic Checking® for?

The Capital One Spark Business Basic Checking® account is a great fit for small business owners who keep a few thousand dollars in their account and don’t want to be bogged down with transaction fees.

It offers unlimited free transactions, including deposits, withdrawals, and transfers, so businesses who move their money around often don’t have to worry about being nickeled-and-dimed.

Though the bank is primarily online, it does have some branches and allows cash deposits, so it’s an option worth considering if you have customers who pay you in cash. However, businesses that receive more than $5,000 in cash payments per month may find more affordable options elsewhere.

Features of the Capital One Spark Business Basic Checking® account

Here are some of the standout features of the Capital One Spark Business Basic Checking® account.

1. Unlimited free transactions

One of the biggest draws of the Capital One Spark Business Basic Checking® account is that it allows you to make unlimited monthly deposits, withdrawals, and transfers.

Many other business checking accounts, particularly those at brick-and-mortar banks, restrict your transactions and charge costly fees for exceeding their monthly limits. If your company moves money around frequently, there’s no overstating the value of this Capital One business bank account.

2. Affordable cash deposits

Capital One allows Spark Business Basic Checking® account holders to deposit up to $5,000 in cash per month, which is on par with what many of the best small business checking accounts offer and better than many online business checking accounts, which often don’t allow cash deposits.

If you exceed the $5,000 per month, you’ll pay an additional fee of $1 per $1,000 deposited, but this is also pretty reasonable.

3. Free overdraft protection with a linked account

This Capital One small business banking account includes free overdraft transfers when you have funds available in a linked small business deposit account.

Many other business checking accounts allow overdraft transfers but they often charge fees, so it’s nice to see Capital One offering this service for free. This isn’t a guarantee that you’ll avoid all overdraft fees, but it can reduce your odds of paying $35 per transaction.

How to access your money with the Capital One Spark Business Basic Checking® account

If you’re thinking about opening a Capital One Spark Business Basic Checking® account, here are your options for depositing and withdrawing funds.

Deposit options

You can deposit money into your Capital One Spark Business Basic Checking account using any of these methods:

  • Electronic transfer
  • Wire transfer
  • Mailed check
  • Mobile-deposited check
  • Branch deposit
  • ATM deposit

You can find the nearest Capital One branch or ATM using the locator tool on the company’s website or in its mobile app.

Withdrawal options

These are your options for withdrawing funds from the Capital One Spark Business Basic Checking® account:

Advantages to using Capital One for your business checking account

There are many advantages to opening a business bank account with Capital One. Here’s a look at some of the most important.

1. Variety of business banking products

In addition to its business checking accounts, Capital One offers business savings accounts, loans, credit cards, merchant services accounts, and more. This makes it a one-stop-shop for small business owners.

Capital One also offers commercial accounts for larger companies, so it shouldn’t be difficult to find accounts that suit you even as your business grows over time.

2. Free, user-friendly online account management

All Capital One business banking accounts include free online and mobile banking with bill pay. Its mobile apps also allow you to remotely deposit checks with no limits on monthly deposits.

No matter whether you use a computer, tablet, or phone, you should find managing your funds to be pretty straightforward, especially if you’re already used to online banking.

3. Some branch locations

Capital One is more of a hybrid bank than a true brick-and-mortar institution, but it does have some branches and more informal Capital One Cafes where you can get in-person assistance with your small business banking needs.

You can locate the nearest branch with the locator tool available on Capital One’s website and in its mobile app. Having a branch near you also makes cash deposits a lot more convenient, though you can deposit cash through a Capital One deposit-taking ATM if there isn’t a branch near you.

Drawbacks of using Capital One for your business checking account

While there are many reasons to consider doing your small business banking with Capital One, there are also a few drawbacks you need to weigh.

1. Out-of-network ATM fees

Capital One charges you anywhere from $2 to $5 every time you use an ATM that’s not within its network, and that’s in addition to the fee the ATM owner might charge you. This could make Capital One a costly choice for businesses that aren’t located near a Capital One ATM. However, if you rarely withdraw cash, this may not be a problem.

2. Above-average minimum deposit

The Capital One Spark Business Basic Checking® account has a minimum initial deposit that’s a little higher than what many of its competitors charge. It won’t affect all small business owners, but if you have little cash to spare, you may prefer to go with a bank that doesn’t have a minimum deposit requirement for its small business banking customers.

3. Fees for incoming wire transfers

Outgoing wire transfer fees are pretty standard in the industry, but incoming wire transfer fees are much less common.

Capital One is one of the few banks that charge these, and that could make the account costly if you’re used to accepting deposits into your account this way. But if wire transfers aren’t a part of your day-to-day business, this probably won’t bother you.

Alternative business checking account options from Capital One

If the Capital One Spark Business Basic Checking® account feels too restrictive for you, consider the Capital One Spark Business Unlimited Checking® account. This account offers unlimited transactions and cash deposits plus a few free wire transfers per month.

However, its monthly fee is much higher and the requirements to waive that fee are much steeper.

Is the Capital One Spark Business Basic Checking® account right for you?

The Capital One Spark Business Basic Checking® account is a flexible account that blends some of the best features of online and brick-and-mortar business checking accounts. It’s an option worth considering, but no business checking account is right for every company.

Before you make up your mind, compare it with some of our other top business checking accounts to see if it’s the right fit for your organization.

Tags: Amazon Business Login, Amazon Business Prime, Bank Of America Business Account, Best Business Schools, Business Attorney Near Me, Business Bank Account, Business Card Holder, Business Card Maker, Business Card Template, Business Cards Near Me, Business Casual Attire, Business Casual Shoes, Business Casual Woman, Business Plan Examples, Ca Business Search, Ca Sos Business Search, Capital One Business Credit Card, Chase Business Checking, Chase Business Credit Cards, Chase Business Customer Service, Chase Business Login, Chase Business Phone Number, Cheap Business Cards, Citizens Business Bank, Cox Business Login, Digital Business Card, Facebook Business Suite, Finance In Business, Free Business Cards, Google Business Login, Harvard Business School, Lands End Business, Massage Parlor Business Near Me, Michigan Business Entity Search, Mind Your Business, Mind Your Own Business, Ohio Business Search, Risky Business Costume, Skype For Business, Small Business Loan, Small Business Saturday 2021, Starting A Business, Texas Business Entity Search, Triumph Business Capital, Vending Machine Business, Verizon Business Customer Service, Vonage Business Login, Wells Fargo Business Account, Yahoo Small Business, Yahoo Small Business Login

Continue Reading

Previous M&T Bank Names Michael Seaver Vermont Regional President and Head of Commercial Banking for the State
Next M&T Bank Names Frank Micalizzi Bridgeport Regional President and Head of Commercial Banking for Connecticut

Archives

  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • March 2020
  • November 2018
June 2023
M T W T F S S
 1234
567891011
12131415161718
19202122232425
2627282930  
« May    

Recent Posts

  • How Can Trenchless Drilling Help You to Enhance Your Project Profitability?
  • Investment Casting Process Outlined
  • Five Rules on How to Write a Business Letter
  • Auto Insurance – Understanding the Different Types of Collision Insurance
  • Real Estate Investment in Stunning Cyprus

BL

Tags

Amazon Business Credit Card American Airlines Business Class Att Business Login Austin Business Journal Best Bank For Small Business Best Business Bank Accounts Best Business Schools In Us Best Business To Start British Airways Business Class Business Business Attire Men Business Card Ideas Business Casual Shoes For Women Business Continuity Planning Business Entity Search Business Letter Template Business Management Degree Business Manager Facebook Business Plan Outline Business School Rankings Colorado Business Search Delaware Business Entity Search Drop Shipping Business Family Business Bet Fox Business Live Georgia Sos Business Search Google Business Account Harvest Small Business Finance How To Build Business Credit Is Saturday A Business Day Is Sears Still In Business Management Microsoft 365 Business My Business Google Name Generator Business None Of Your Business Ny Sos Business Search Open A Business Bank Account Pa Business Search Plus Size Business Casual Pnc Business Banking Sos Business Search Ca Sunbiz Business Search Taking Care Of Business The Business Of Being Born
hollywoodstarshoney.com | Magazine 7 by AF themes.

WhatsApp us