Author Topic: Business checking / HYSA account?  (Read 525 times)

pdxvandal

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Business checking / HYSA account?
« on: February 19, 2024, 05:14:05 PM »
I've set up a small family-run LLC and wondering if the Mustachians have any recs on a business checking and/or HYSA account? It would be nice to have an account that accrues a competitive interest rate while also having check-writing/depositing features. I would prefer "easy" meaning not having to fulfill various monthly obligations to avoid fees, maintain the account, etc. Thanks in advance!

petmustache

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Re: Business checking / HYSA account?
« Reply #1 on: February 22, 2024, 01:25:43 PM »
I have corporate brokerage accounts at Fidelity where you can hold your funds in the SPAXX Government money market fund. It currently yields close to 5%. You can also invest in Fidelity/Vanguard ETFs/mutual funds per your asset allocation.

It does not have check writing or bill pay abilities but you can always ACH withdraw funds as needed back to your bank checking account within a day.

You will need to provide the EIN and CP-575 forms to prove your corporation for opening the corporate brokerage accounts.
« Last Edit: February 22, 2024, 01:27:45 PM by petmustache »