Recommendations for Business Checking?

[zetta]

Does anybody have a business checking account that pays interest that they are happy with?

When I started software consulting, the company I am sub-contracting to offers direct deposit. For this I needed a business checking account rather than a personal checking account. I couldn't get Etrade to set up the account -- they wanted a business license and a DBA ("doing business as") form, and in California as sole proprietor if you call yourself "My Name Consulting" you don't have either document. (I do have a form that says that I paid some small local business tax, but this isn't a license.) So I went with Wells Fargo, but they require that the account keeps a $4,000 minimum (to avoid fees), and they don't pay any interest.

Has anybody found a better deal?

[Aleta]

When my husband was a sole proprietor, we only had his name on the checking account and the checks were made out to his name. We didn't operate from a business checking account. You can make up cards and have your invoices print up to make your checks out to the name listed. We're now incorporated and it is a pain in the neck. I have never seen so much paperwork and red tape.

[Scanner]

If your client base is local, I suggest doing business with a local/yokel branch.

I have a business checking account through Bank of America. I am not aware of any fees but I do have a business line of credit that I pay 9.5% interest on.

[MonkeyMama]

Sorry, but business checking is rife with fees and few (if any) pay interest. Nothing comes to mind when I think of my small business clients.

[zetta]

I'll check out BofA...maybe I just need to calculate how much interest I'm losing by not keeping that $4k in another account, and compare it to the fee if I don't maintain the minimum balance...

[filifefc]

I believe ING has a business interest checking. Check it out. A couple months ago, I heard about it but it wasn't actually advertised.

[Ima saver]

I have a checking that pays a small amount of interest. Not much, but every little bit helps. It pays depending on how much you have in there. It pays between .005 and 1%. It is just a local bank.