Any business that has an EIN can open a business savings account. Even with the smallest of businesses, it is advisable to form an LLC, because with a sole proprietorship, you, as an individual, have liability for your business. When you form an LLC or any other type of business that is separate from the individual, you can open a business savings account.
At Seacoast Bank, we only require you to keep $500 in your account. If you dip below that, then there will be a $15 monthly maintenance fee.
You can deposit funds in many ways. The first is through ACH cash collection, which acts as a direct deposit. You can also make deposits into your savings and checking accounts through our network of ATMs, including 1,100 Publix® ATMs. Lastly, and most convenient, is through Remote Deposit Capture (RDC). RDC allows you to electronically scan checks at your place of business to be deposited into your bank account.