Cheqly Blog about Business Accounts in US

10 Key Features to Consider in a Business Checking Account

by Cheqly team | December 13, 2024 | Business Checking Account Features

Good financial management is critical to the success of an organization in the present business environment. Finding a reliable and comprehensive business checking account becomes important for any organization. It is right to state that accurate reporting and records are essential to effective financial management. Look for a business checking account with great reporting and … Continued

ACH Hold: What Does It Mean

by Cheqly team | December 10, 2024 | ACH Hold

If you ever come across the words ‘ACH hold’ while looking at your bank account, it can be useful to know that this means the money is on hold, awaiting the completion of an electronic transaction. One common type of ETF (electronic fund transfer) is ACH, short for Automated Clearing House. Both people and organizations … Continued

FDIC vs. NCUA Insurance: What’s the Difference?

by Cheqly team | December 6, 2024 | FDIC Insurance , NCUA Insurance

The National Credit Union Administration (NCUA) and the Federal Deposit Insurance Corporation (FDIC) are separate federal organizations that provide deposit insurance to their members. The FDIC usually protects bank deposits up to $250,000, with some exceptions; the NCUA offers similar protection but for credit unions instead of banks. FDIC or NCUA member institutions provide this … Continued

Virtual Banking: Navigating Your Digital Financial Options

by Cheqly team | December 3, 2024 | Virtual Banking

The time when you had to wait in line for hours at the banking hall just to send and receive cash is long gone. In the current digital era, you can access your bank account anywhere, anytime. Virtual banks can help with this. Captive, branchless, and anytime-anywhere virtual banks offer services similar to conventional banks. … Continued

Bank Account Number: What They Are and How to Find Them

by Cheqly team | November 28, 2024 | Bank Account Number

An individual bank account and its owner can be identified by their bank account number, a string of digits (and occasionally letters). In this manner, banks can safely grant access to the account so that money can be sent and received. Social Security numbers were previously used for this position. However, fraud and identity theft … Continued