Business Accounts

Which type of business account allows for regular banking transactions such as deposits, withdrawls, and payments?

• Business Savings Account
• Business Checking Account
• Business Money Market Account
• Business Certificate of Deposit (CD)

What is the primary purpose of a business savings account?

• Accumulating surplus cash
• Providing a safe place for short-term goals
• Offering higher interest rates than regular savings accounts
• All of the above

Which business account offers higher interest rates than a regular business savings account and limited check writing or debit card capabilities?

• Business Checking Account
• Business Savings Account
• Business Money Market Account
• Business Certificate of Deposit (CD)

What is a characteristic of a business certificate of deposit (CD)?

• Fixed term and interest rate
• Easy access to the deposited funds
• No penalties for early withdrawals
• Lower interest rates than regular savings accounts

What is a business line of credit?

• A business checking account with a credit feature
• A type of business savings account with high interest rates
• A predetermined amount of funds that can be borrowed as needed
• A merchant services account for processing customer payments

What is the purpose of a business merchant services account?

• To accumulate surplus cash for short-term goals
• To offer higher interest rates on deposited funds
• To provide a safe place for emergency funds
• To accept electronic payments from customers

What types of business accounts provide funding for business expansion operations or specific projects?

• Business Checking and Savings Accounts
• Business Money Market Accounts
• Business Merchant Services Accounts
• Business Loans and Credit Accounts