A business savings account is an ideal option for business owners who wish to protect and grow their cash reserves.
Setting up a business savings account can help your business operate more efficiently. It means you’ll have money set aside for any unplanned business expenses such as emergencies and business projects.
Plus, it makes sense to open a savings account and put spare funds to work, earning a competitive interest rate on the balance.
There are different business savings accounts designed to suit businesses of all types and sizes. The type of business savings account you choose will depend on your needs — are you looking for easy access, or can you set aside a significant amount of money for an extended period?