Running a business comes with a lot of challenges, but keeping your checking account in the positive doesn’t have to be. There are more options today for avoiding an overdraft fee then you may think.
These 3 methods can help you keep your finances on track and minimize overdraft fees.
1. Enroll in Online Banking: Enrolling in online banking can be very helpful. It allows you to keep a close eye on the debits and credits coming in and out of your account 24/7. It helps because you don’t have to wait for a monthly statement, and best of all it’s free.
2. Setup Email Alerts: Most banks now offer the ability to setup email alerts through their online banking. It is a great way to let you know that your balance is getting low. An email alert can be sent to you if your checking account balance falls below a specific dollar amount warning you to make a deposit or transfer funds.
3. Apply for Overdraft Protection: If you have multiple accounts see if your bank can setup overdraft protection as a backup plan. There may or may not be a small fee involved but it will most likely be a lot less than the fee you could get for overdrawing your account. Not to mention the peace of mind it provides you as a business owner.
Grow your business with the confidence of a trusted business partner at your side. Visit our website or stop by our West Town branch today.
Assistant Vice President
1959 W. Grand Ave.
Chicago, IL 60622