Consumer Brands: Why a High Yield Business Checking Account is the Best Place for Your Funds
A high-yield business checking offers a higher interest rate than traditional checking accounts, providing a passive source of income for businesses. Ampla Banking offers a special promotional APY of 3.08% for up to three months,** no minimum account balances, and free ACH and wire transfers, making it a cost-effective and secure option for storing and growing money.
As a consumer brand, it's important to have a solid financial plan in place to ensure the success and stability of your business. One strategy that can help you achieve these goals is depositing some of your funds into a high-yield business checking account.
What is a high-yield business checking account? It's a type of account that offers a higher interest rate than a traditional checking account. This means that your money will earn more in interest over time, providing a passive source of income for your consumer brand.
There are several benefits to using a high-yield business checking account as a place to deposit your funds.
- Higher Interest Rate: The higher interest rate means that your money will grow faster. This can be especially useful for consumer brands that may have periods of slower sales or less cash on hand. By earning more interest on your deposits, you can offset some of these financial setbacks and keep your business on track. At Ampla, new banking customers can receive a special promotional APY of 3.08% for up to three months, and potentially longer depending on their ongoing balance.
- Low or No Fees: High-yield checking accounts also tend to have low or no fees, making them a cost-effective option for storing your money. This is especially important for small businesses or consumer brands that may be working with limited budgets and need to stretch their funds as far as possible. Our new banking solution features no minimum account balances and free ACH and wire transfers in an effort to provide the most founder-friendly offering.
- FDIC Insured: In addition to the higher interest rate and low fees, high-yield checking accounts are FDIC insured. This means that your deposits are backed by the full faith and credit of the United States government, providing an added layer of security for your business for deposits up to $250,000.00.
Overall, a high-yield checking account is a smart choice for consumer brands looking to grow and protect their funds. The higher interest rate and low fees make it a cost-effective way to store and grow your money, and FDIC insurance provides an added layer of security. So, if you're a consumer brand looking to take control of your financial future, consider opening a high-yield checking account and start reaping the benefits today. If you’re interested in learning how Ampla Banking can help make your money work harder for you, contact us today, or sign up for our no-fee banking platform today.
Ampla is a financial technology company, not a bank. Banking services provided by Blue Ridge Bank N.A.; Member FDIC. The Ampla Visa® Debit Card is issued by Blue Ridge Bank N.A. pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.
**Annual Percentage Yield (APY) of 3.08% is effective as of the day you fund your account. This is a variable rate and may change after the account is opened. Eligibility is contingent on funding your account within the first 30 days of approval. APY accrues daily based on EOD balance, paid out on the 1st of the month. New customers will accrue 3.08% APY until the end of their approval PLUS the next two calendar months. Full terms and conditions can be found here. Fees could affect earnings on the account.
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