Cheqly Blog about Business Accounts in US

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

Business Credit vs. Personal Credit: How Are They Different?

by Cheqly team | November 25, 2024 | Business Credit , Personal Credit

Small business personnel must understand personal and business credit scores. These figures may affect their personal and business finances. Understanding how each score works, when one should be applied, and why they are relevant to your situation is useful for sustaining your money and further diversifying your business. Business Credit vs. Personal Credit: What’s the … Continued

Warrants, Covenants & Guarantees: Understanding Loan Terms

by Cheqly team | November 21, 2024 | Loan Terms , Venture Debt

Let’s discuss what these loan terms mean for your business and why you included them in the planning. Why Loan Terms Are Essential? One of the most flexible, founder-empowering forms of SaaS funding available on the market is venture debt financing. Despite the availability of several other alternatives, the debt financing model remains the best … Continued