Rev up your e-commerce profits with these top bank accounts for e-commerce and Amazon Businesses! Discover the best banks for your business in the UK, USA, and Europe. Take your finances to new heights with this expert guide.
Business Banking: Bank Accounts for E-commerce and Amazon Businesses
Are you an Amazon FBA or e-commerce seller looking to maximise your profits? If so, you may overlook one crucial factor: your bank account.
The right bank account can provide a range of benefits and features that can help you manage your finances, minimise fees, and grow your business over time. But with so many banks and account options to choose from, it can be tough to know where to start.
In this blog, we will provide you with a comprehensive guide to the best bank accounts for e-commerce and Amazon businesses. Whether you’re based in the UK, USA, or Europe, we’ve got you covered with our top recommendations for banks.
Don’t miss out on this exclusive guide and take your e-commerce business to the next level.
Bank Accounts for E-commerce and Amazon Businesses – UK
Natwest
Natwest is a popular choice for business banking in the UK. They offer various banking services, including current accounts, savings accounts, and credit cards. Some of the key considerations for each are the following:
Current Account
- £5 monthly account fee
- Free electronic payments and cash deposits
- 24/7 online and mobile banking
- No charge for the first 25 cash deposits per month.
Savings Account
- No monthly account fees
- Competitive interest rates
- Easy access to funds.
Credit Card
- No annual fee for the first year
- 0% interest on purchases and balance transfers for the first six months.
Wise (formerly TransferWise)
Wise is another popular option for UK e-commerce sellers. They offer borderless accounts in multiple currencies, which can be helpful for businesses that operate internationally. Some of its benefits include:
- No monthly account fees
- Free to receive money
- Low fees for sending money
- Hold and manage money in multiple currencies
- Debit cards are available for easy spending.
Bank Accounts for E-commerce and Amazon Businesses – USA
American Express
American Express is a leading provider of business banking services in the US. They offer different business bank accounts, credit cards, and other financial services. You may want to consider this bank after knowing some of its features:
Business Savings Account
- No monthly account fees
- Competitive interest rates
- No minimum balance required
Business Credit Cards
- No annual fee for the first year
- Reward points for spending
- Travel perks and expense management tools
- 24/7 customer support.
Chase Bank
If you are a US-based e-commerce seller, you can also consider Chase Bank. They offer a variety of business accounts, credit cards, and other banking services. Consider the following fees and benefits of having Chase Bank’s business accounts:
Total Business Checking
- $15 monthly account fee
- 100 free transactions per month
- Mobile banking and online invoicing
- No charge for cash deposits up to $5,000 per month.
Business Credit Cards
- No annual fee (if qualified)
- Sign-up bonuses (if qualified)
- Reward points for spending
- Fraud and purchase protection
- Travel benefits
Bank Accounts for E-commerce and Amazon Businesses – EU
BBVA (Spain)
BBVA is a leading provider of business banking services in Spain. They offer different business accounts, credit cards, and other financial services. We have listed fees and features associated with BBVA’s business accounts:
Negocio Account
- €6 monthly account fee
- Free electronic payments and cash deposits
- Mobile banking and online invoicing
- Free access to BBVA ATMs.
Credit Cards
- No annual fee
- Rewards Program
- Business management tools
- Fraud and purchase protection
- 24/7 customer support
Alior Bank (Poland)
Alior Bank is a popular choice for business banking in Poland. They offer various business bank accounts, credit cards, and other financial services. Listed are the perks of choosing this bank:
Business Account
- No monthly account fees
- Free electronic payments and cash deposits
- Mobile banking and online invoicing
- No charge for cash withdrawals at Alior Bank ATMs.
Credit Cards
- No foreign transaction fees
- Travel perks
- Bonus cash back program
- Online expense management tools
- Dedicated customer support.
Commerzbank (Germany)
Commerzbank is one of the largest banks in Germany and offers various business banking services. They have a range of business banking accounts and other financial services such as credit cards, that can be beneficial for e-commerce sellers.
Some of the fees and benefits associated with each account are:
Business Start Account
- €9.90 monthly account fee
- Free electronic payments and cash deposits
- Mobile banking and online invoicing
- No charge for the first 50 transactions per month.
Credit Cards
- Contactless payments
- Cashback reward
- Corporate liability waiver (for fraudulent transactions)
- Expense management tools
- 24/7 customer support.
Frequently Asked Questions
Are there any fees associated with opening a business bank account?
Yes, there may be fees associated with opening a business bank account. These fees can include monthly maintenance, transaction, ATM, and wire transfer fees.
However, some banks may offer fee waivers or discounts for new accounts or businesses meeting certain criteria.
Can I use a personal bank account for my e-commerce business?
While it is possible to use a personal bank account for your e-commerce business, it is not recommended.
Personal bank accounts may not offer the features and services a business account does, and it can be difficult to monitor your business finances when mixed with personal expenses.
What types of bank accounts are best for e-commerce businesses?
The best types of bank accounts for e-commerce sellers are business checking accounts, savings accounts, and credit lines.
These accounts are specifically designed for small businesses and offer features such as low fees, unlimited transactions, and online banking capabilities.
Conclusion
Choosing the right bank account is one of the steps to financial success. With our guide to the best bank accounts for e-commerce and Amazon businesses, you can maximize your profits, manage your cash flow, and build a solid financial foundation for your business.
Consult us at Sterlinx Global for more banking tips and advice.
Related posts
How to Reduce your UK Tax bill by HMRC if You Own an Offshore Account
Bank Your Money in UK: How Can You Bank Your Money Without a Visit to the UK
