U.S. Bank has launched a premier all-in-one checking account combined with payments acceptance capabilities for small businesses.
Called U.S. Bank Business Essentials®, the account enables businesses to accept card payments with free same-day access to their fundsi and a free mobile card readerii, in addition to checking with unlimited digital transactionsiii and no monthly maintenance fee. Business Essentials features include:
Premier checking account with no monthly maintenance fee
Card payment acceptance with free same-day access to funds, every day of the weeki
Unlimited digital transactionsiii
Free mobile card readerii
Fraud prevention tools
Simplified money movement within one digital dashboard
Ability to integrate a business’s accounting and budget management software
Single application and streamlined onboarding experience
U.S. Bank introduced Business Essentials in response to the advancing needs and demands of small business clients. In a national survey U.S. Bank conducted with more than 1,000 small business owners, 80 percent said they prefer service providers who can bundle their digital banking, payments, and operations toolsiv, highlighting the need for a banking partner to provide digital banking and payments in a single solution.
“With Business Essentials, we are making it easier for small business owners to manage their business,” said Shruti Patel, chief product officer for the business banking segment at U.S. Bank. “We are bringing multiple capabilities together - a best-in-class checking account with payments and differentiated easy-to-use software - in a single integrated interface. By enabling small business owners to manage their cash flow in one place - with no monthly maintenance fee - we are helping our clients save time and money, lessening their operational burden, and giving them access to improved business insights.”
“This product exemplifies how the breadth of business offerings under the U.S. Bank umbrella can interconnect to create real value for our clients,” said Arijit Roy, Head of Consumer and Business Banking Products at U.S. Bank. “When we make it easier for our small business clients to run their business and have quicker access to their funds, we are playing a central role in their growth story.”
U.S. Bank serves more than 1.4 million small business clients with a comprehensive suite of banking, payments and digital solutions backed by support from experienced bankers. The bank offers a wide range of deposit accounts; merchant services products, including talech point of sale systems; loan products; credit cards; and treasury management services.