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Interest on Business Checking Accounts – Now Available

Did you know your bank can now pay interest on your business checking account? Perhaps the better question is, did you know your bank could NOT pay interest on your business checking account, until today, July 21 that is. Or did you, like many, just assume your bank chose not to do so in order to entice you to have a business savings or money market account at their institution?

Well, here’s the 411. I quote from the Inc.com article on the subject, Banks Can Pay Interest on Business Accounts” (creative title, eh?), “Starting today, your bank will be able to pay you interest on your corporate checking account for the first time since the Great Depression.

That’s thanks to a provision in Dodd-Frank that repealed Regulation Q. (Note: I am familiar with Dodd-Frank but admittedly didn’t know anything about Regulation Q. Is that any relation to John Q? Probably not.)

Among the banks that say they’ll offer interest-bearing accounts: BBVA Compass, Wells Fargo, BB&T, and Regions, according to the Birmingham Business Journal.”

Okay. Just because the banks CAN by law – I mean legally are able to – offer interest on business checking accounts, doesn’t mean they will. But since some of the big boys will offer it, I highly recommend you ask your bank for it. Even if you can only get 0.25% interest, hey, that’s better than nothing!


About Tiffany C. Wright

Hi! I,Tiffany C. Wright, am the author of the ebook, "Help! I Need Money for My Business Now!!" and the book "Solving the Capital Equation: Financing Solutions for Small Businesses", available on Amazon. I am the president of Toca Family Business Services, a short-term & project-based interim management & strategic and financial advisory firm, located in Atlanta, Georgia. In the past five years I've helped small and medium companies restructure and obtain over $31 Million in financing and a similar amount in purchase orders and contracts. I have an MBA in Finance and Entrepreneurial Management from the Wharton School of Business at the University of Pennsylvania and a B.S. in Industrial and Systems Engineering from The Ohio State University. Personal: I enjoy investing. I am a prodigious reader of everything from business books, magazines, and newspapers to horror and popular fiction. I read 4-6 books per month. I also love to travel. I've been to 33 countries on 5 continents and lived in Japan for 2.5 years and aim for a foreign locale twice a year. I am also an athlete and run track on the Master's Circuit. The highlight was placing 7th in my age group in the 2007 World Master's Track and Field Championships in Italy.


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The Resourceful CEO, Tiffany C. Wright

the president of Toca Family Business Services, a strategic and financial advisory firm which provides short-term & project-based C-level management. She is the author of Solving the Financial Equation: Financing Solutions for Small Businesses, available on Amazon.

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