Over the past decade, many financial institutions have adopted online banking, leading to significant changes in the industry. Physical banking has also improved through incremental enhancements for both individuals and businesses.
This article by The CEO Views is a step toward identifying and understanding some money toolkits that are reimagining banking for businesses and individuals. Our magazine aims to connect industry peers by sharing insights from various industries, business events, innovations, technologies, and other business aspects through articles and blogs like this. Additionally, it also informs readers about the latest happenings of the global business world through news reports as well.
The Smart Money Stack: Uncovering A New Banking Era
Financial transformation in the last few years opened the doors to several financial opportunities, making banking as easy as pie. From online checking accounts to credit cards with outstanding credit facilities, individuals and businesses are enjoying the benefits of smart money management.
Smart money management is the key to financial control in the modern financial sector. By taking a strategic approach to planning, organizing, and controlling income and expenses, you can now ensure long-term financial stability and wealth building. In doing so, we have some amazing money tools that help us maximize our financial health.
Whether you are an individual looking for solutions to effectively manage your money or a startup owner finding ways to fund your business activities, modern-day banking services have a lot of money management tools to offer. The hardest part of managing money is saving. We often struggle to save money amidst the wave of expenses, be it for an individual or a business. With these financial tools, we have found our way to saving money and wealth building.
Through this write-up, we will discover some of these financial tools. It will also enlist the best credit cards and online checking accounts for individuals and businesses in the U.S. Let’s dive in.
What are Online Checking Accounts?
Checking accounts are bank accounts that enable account holders to make withdrawals or deposits. A current account is the common term used for checking accounts in banking. An online checking account in the U.S. is used for daily transactions managed digitally. This account allows deposits, withdrawals, online bill payments, balance checks, and money transfers, avoiding the hassle of visiting a physical bank. Let us identify some of the best online checking accounts in the U.S.
Top 3 Online Checking Accounts to Enroll For in the U.S.
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SoFi
SoFi is the best online checking account you could always rely on to ensure an exceptional checking account experience. Are you looking for a smarter way to manage your checking account on the go? SoFi is the option you are looking for. Working to help people reach financial freedom, this online checking account platform is constantly embracing innovation and prioritizing its values to ensure they are ingrained into what they do and how they do it.
Presently, the banking company has over $73 billion in funded loans, 12.6 million members, and more than $34 billion in debt paid off by members. The SoFi philosophy reflects how the finance company works, which includes “attack debt with a plan,” ‘always have a safety net,” “put money to work,” and “save for retirement (and other goals).”
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Capital One 360 Checking
Capital One puts its clients at the top of every purchase. Its 360 checking offer has taken this digital banking company to the forefront of online checking account services. Capital One has come up with a new offer that lets account holders earn $250 for a 360 checking account. With the 360 Checking, a rate of 0.10% Annual Percentage Yield (APY) applies to accounts having balances between $0-$9,999.99, $10,000.00-$24,999.99, $25,000.00-$49,999.99, $50,000-$99,999.99, and $100,000 or more.
Over 25 years ago, Capital One revolutionized the credit card industry with data and technology. Today, it stands as one of the most popular brands in banking, with more than 100 million customers across businesses.
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Chime
Chime has created a new approach to online banking that does not include fees. With a Chime checking account on your smartphone, account holders are helped to grow their savings through a Visa® Debit Card and an optional savings account. As a fintech company, Chime aims to unite people to Unlock Financial Progress™. You can open an online checking account with Chime for free and access cash through 47,000 fee-free ATMs. The company wants to gain with its members, and not from them. With the checking account, you don’t need to worry about monthly maintenance fees.
Top 3 Business Credit Cards to Empower Your Small Business
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American Express Business Gold Card
American Express Business Gold Card tops the chart as one of the best business credit cards for small business. With this business card in your hand, you can take your small business to a new height of success, with membership reward points as high as 200,000 after spending $15,000 on your card within the first three months of membership. This card is accepted at 99% of all U.S. places that accept credit cards. This card can also allow you to maximize your rewards four times on the top 2 eligible categories.
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Venture X Business Card
Venture X Business Card by Capital One is suitable for your SMB if you have significant travel spending. With every big purchase, cardholders are rewarded with big travels. You can earn unlimited 2X miles on every purchase, and can earn 10X miles on hotels and rental cars, and 5X miles on flights and vacations if booked through Capital One Business Travel. You can also receive an annual $300 credit for bookings through Capital One Business Travel, along with a 10,000 bonus miles every year from your first anniversary. However, business owners must pay their balance in full every month. With no preset spend limit, this card is flexible enough to adapt to your business needs.
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The Chase Ink Business Preferred Credit Card
The Chase Ink Business Preferred® Credit Card is another preferred travel rewards card for small businesses. The bank is offering 100,000 bonus points as its welcome offer for new card members after they spend an amount of $8000 on purchases in the first 3 months of account opening. Business owners can earn 3X points on selective business categories, with an APR ranging from 19.74% – 25.74% and an annual fee of $95. You can also earn a complimentary access to DashPass if you require a team lunch or office supplies.
Top 3 Credit Cards Offering Great Credit
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Capital One Quicksilver Cash Rewards Credit Card
With this card, cardholders can earn a one-time $200 cash bonus after spending $500 on purchases within 3 months from account opening. They can earn an unlimited 1.5% cash back on every purchase, every day. With 0% annual fee and no international transaction fees, this card can be a good choice for those who want to have credit cards for excellent credit.
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Capital One Savor Cash Rewards Credit Card
Similar to the Capital One Quicksilver Cash Rewards credit card, the Savor Card also offers a one-time $200 cash bonus after spending $500 on purchases within the first three months of purchasing the card. Cardholders can earn an unlimited 3% cashback at grocery stores (excluding superstores like Target and Walmart), on dining, popular streaming services, and entertainment services. 5% cash back on hotels, rental cars, and vacation rentals booked through Capital One Travel.
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Citi® Diamond Preferred® Card
This credit card offers 0% Intro APR on balance transfers for 21 months and on purchases for 12 months from the day of account opening. After that, the variable APR will be 16.49% – 27.24% based on creditworthiness. However, you may have to give a balance transfer fee of either $5 or 5% of the amount of each transfer.
