Business Savings Accounts: What’s the Difference?

Business Savings Accounts, Business Money Markets, and Business CDs are all financial products that can help businesses store and grow their funds.

• A Business Savings Account is an FDIC-insured account that allows a company to make deposits and earn interest on its balance.
• Business Money Markets offer higher yields than typical savings accounts but may require larger minimum balances with restrictions such as limited check-writing abilities. 
• Business CDs (certificates of deposit) are another type of deposit product where you agree to let the bank use your funds for a predetermined period at a fixed rate. 

All three types of accounts are designed to help businesses manage their cash flow while earning interest on their deposits.