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what is the best business bank account for you getting started as a notary loan signing agent let's talk about it right now hey what's going on guys victor chambers back with another video and in this video i want to talk about the best business bank account for you starting out as a notary loan signing agent now with any business having a bank account specifically for your business is important and key to actually being able to manage your revenue and expenses and for you know filing taxes and all of that great stuff having a business bank account is absolutely critical um and i know for for many it may be a little intimidating of you know going down the process of opening a business bank account obviously most of us have personal bank accounts but a business bank account typically involves a little bit more in terms of getting it open and what's required from a documentation standpoint but i wanted to share the the bank that i'm specifically using for my notary loan signing agent business and um just talk a little bit about some of the features why i believe it's the best especially if you're you're just getting started and need a solution you know for a business bank account it's really important that to actually separate your personal expenses from your business expenses um not just for legal reasons but also to make your life a little easier when it comes to managing it all so we're going to jump right into here and the bank is called as low now as you can see here they have a pretty clean site and it's really geared towards entrepreneurs small businesses and it has a lot of features that i think are very interesting that you won't really find as much with some of your other other bigger banks they have resources on the site and all kinds of you know articles and blogs and things that i think are useful but let's talk about uh some of the features here so this is a business bank account you can start for free flexible business checking apply anywhere uh you know no fees and minimums that's important you know a lot of these big banks have minimum fees and monthly maintenance fees uh with with their accounts and it's 100 online so this bank doesn't have branches it's completely online which is which is great because as a notary loan signing agent most of the payments you'll be receiving will be either you know via direct deposit and you may get some checks you know as well you may get e-checks as well so you would want to be able to you know make your deposits you know via mobile bank deposits or what have you without even even leaving your house so it has a lot of features that i think really uh tailor well to uh the notary loan signing agent business they have some integrations here um you can create send and manage invoices and we'll talk a little bit about that in a second but let's just go through the features and speaking of invoices let's look at invoicing oftentimes as a notary loan signing agent or you know as a notary doing general no rework you will be asked to provide an invoice for the the assignment that you perform and so instead of figuring out how to type up invoice in a word document or use some other software why not be able to do it directly from your your bank um which i think is a pretty cool feature so what i think is actually great here is that you can um you know create the invoice directly from your uh business portal your online bank account you can create contacts and you know put in their phone number email address you can email the invoice directly from your bank account and give the person that's paying you the option of either mailing you a check or actually paying it directly from the invoice using your bank account and routing information so that's that's great to have it all in one place to be able to manage the money you're expecting um you know through invoices right in in your account where you actually receive the money you can personalize them here um say profiles and invoice faster you can automate it if you if you upgrade to aslo pro and this was this is what i was just mentioning you can offer multiple payment options so people can do transfers or credit cards or checks so this the invoicing feature i think is very powerful to actually have within the aslo account directly um you can make payments um you know typically as a loan signing agent you won't really have to i don't know if you'll really have to do too much maybe you know you have bills that you need to pay for your your business you can do that from here um don't want to get into that too much necessarily um aslo envelopes is a feature i'm not using right now but it's um i think it's pretty cool and you really don't see this with um other bank accounts i think it's kind of modeled after like the the dave ramsey envelope system um or it i think it really kind of allows you to create kind of sub accounts within your account to have you know different envelopes for allocating your funds to different things so for example you have one account but then you want to have an envelope for you know the money you set aside in reserve for taxes maybe you have another envelope for operating expenses and another envelope for um you know owner pay you know when you you know do distributions to yourself as the owner of the business um you can create different envelopes for that i believe you will have to upgrade to the aslo pro to uh to to get that feature let's see what else is here they have a lot of resources um business tools they have a blog here where they talk about you know different things related to entrepreneurs i think that's that's great um and then the let's talk about the pricing so as you can see here's some of the features there's the starter plan and there's a pro plan but you get a lot of features actually with the xero plan and these are unlimited transactions no minimum balance no overdraft fees i think atm fees are are free i believe at many you know locations invoicing you have um you know a lot of a lot of great things here and even more features with the the pro version but i really like this bank i actually have a few of these accounts for a few of the uh the businesses i have in business bank accounts i have um specifically what i like about it is definitely that it's all online the app is great the the debit card is actually very nice looking i think it was very easy to set up so for the most part all you need is copies of an id uh your ein which you know if you're starting a business whether as an individual uh individual sole proprietor or llc or whatever you know this we'll talk about that in another video but you should have an ein for your for your business which you can get for free on the irs site so you know copies of ids ein um and i mean that's pretty much it to get started it takes just maybe two or three days to get up and running once you you know upload all your documents to the site when you try to create an account and then you'll just have to you know make a deposit so what you really can do is you know download the app you know write a write a check from your personal account you know take a picture of it and deposit into your your business bank account so i think it's pretty pretty easy and pretty pretty straightforward the the site is very easy to navigate so i've really i've really enjoyed it one one thing i would say that's maybe a downside is probably the fact that it is completely mobile uh you know you can't go into a branch um but also you know when you're when you're just opening the account sometimes the the initial deposits take a little longer to clear and i think that's probably the case with most most business bank accounts they don't release your money right away um when you take the photo of the of the check and you deposit it it can take up to five or six maybe seven days for the funds to be available but as you deposit more and as you use the mobile deposit feature more they actually from what i understand um you know will make your funds available faster and faster as you start using it but typically for a new account it can take some time for those funds to to be available another probably dr drawback that i found is you know sometimes you'll get e-checks from various signing services or other you know companies maybe you'll do general notary work for they'll send you an e-check via email and it's literally a check that you can print out um on a regular piece of paper and deposit i found that they um they don't like those checks um for whatever reason they they they won't accept them so but typically on on the deluxe e-checks account site when you create an account when you get a check um you can actually elect to have it instantly transfer to your bank account which you know you'll have or you can you know send it to paypal or there's a few different options as opposed to actually printing out a check and trying to deposit it but i think some of those options come with fees another thing that you can do is if you have a have a bank account a personal bank account at a major bank you can print out that e-check um deposit it into your regular bank um your personal bank account and then write yourself a check to your business bank account from you know with a with a regular check that's actually how i had to do it uh uh so i'll probably going forward elect to have the funds instantly transferred to to my account um so they'll be available faster and i won't have to worry about all of that um but i mean i've really enjoyed using this account like i said i have a few few of these accounts across a few different businesses this is kind of how the the credit card looks here or the debit card rather it has your you know your name or your business name on the front you don't have the actual credit card number written on the front of the card it's actually on the back which is pretty clean um and it pretty much integrates with with everything with paypal square stripe um so you know it's pretty it's pretty pretty cool i think um and you know definitely a good place to start in terms of actually just getting a bank account open and and getting started with separating your uh notary loan signing agent expenses and your income from your personal expenses i think that's a very important thing to do so hope you found this video helpful and you know maybe just check this account out i'm not affiliated with them this is not sponsored by them but you know i enjoy using the account and so i think you know it will be of value to to some of you out there so i just hope you found this this useful again thank you for tuning in to my channel welcome to all of my new new subscribers and new viewers i really appreciate the support i appreciate the engagement that uh that we've been having it's really been encouraging and motivating and there's a lot more content i have coming on this channel to help you uh get started on your journey like i said i'm i'm not an expert uh yet um and but you know i just want to be a resource and a you know a source of encouragement and motivation to you that are just getting started or thinking about getting started so if you haven't subscribed please subscribe to the channel like this video share it with a friend and i will see you in the next one peace [Music] you