What are two types of business accounts available at most financial institutions? Edit View Insert Format Tools Table

Most financial institutions offer a variety of business accounts to cater to different needs. Two common types of business accounts available are:<br /><br />1. **Business Checking Account**: This type of account is designed for daily business transactions. It allows businesses to deposit and withdraw funds, write checks, and manage cash flow efficiently. Business checking accounts often come with features such as online banking, debit cards, and the ability to handle multiple transactions.<br /><br />2. **Business Savings Account**: This account is intended for businesses to save money and earn interest on their deposits. It is typically used for setting aside funds for future expenses or emergencies. Business savings accounts usually have limited transaction capabilities compared to checking accounts but offer higher interest rates to encourage saving.<br /><br />These accounts help businesses manage their finances effectively by providing tools for both operational needs and long-term financial planning.