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The Hatch LLC checking account is ideal for small businesses. It is open for business owners as well as independent contractors, who can apply as proprietors.The application process is entirely online. You will, therefore, need to have a stable internet connection. In addition to that, Hatch will ask you to provide the following:
Since Hatch requires that you provide your Social Security Number for identification, you won’t need to provide your Individual Taxpayer Identification Number (ITIN) at the same time. After submitting your application, Hatch will review it and revert through your email inbox. Therefore, make sure to use an email that’s active, and one that you frequently check.
LLC Business Checking with Low Fees
In a world where financial institutions take advantage of SMBs, Hatch stands out as one of the few companies that actually promote small business operations. A hatch LLC business checking account has no monthly minimum balance fees, no NSF fees, and no debit card replacement fees.
These are waivers that every small business can do with. Rather than spending your money on bank fees, this pricing structure lets you use that cash to grow your business.
Apart from a $10 monthly fee, $25 stop payment charge, and $1 ATM fee, your Hatch LLC checking account won’t be charged any hidden fees. In fact, most transactions, including ACH transfers, are free. And every month you get to send five checks for free.
These extremely affordable costs make Hatch the best small business checking account for LLC. Oftentimes traditional banks charge up to $35 for each overdraft or NSF. A card replacement alone will set you back $15 or $20. You’ll also be required to maintain a minimum balance, even though your account won’t earn any perks or rewards.
At the end of the day, traditional banking squeezes the life out of a business with costly fees. This is especially not ideal for a small business that runs on low margins and high cash flows. Instead, SMBs need a caring partner whose pricing structure ensures that the business retains more money than the banker.
1. Your $10.00 (Ten dollar) account fee will automatically be withdrawn from your Hatch Business Checking Account at the end of each monthly statement period.
2. You will be charged a $1.00 fee each time you use an out-of-network ATM to withdraw funds. Any additional charges assessed by the out-of-network ATM provider will be passed on to you.
3. You receive five (5) free Checks Sent per monthly statement period. Each additional Check Sent will incur a $1.00 fee.