Every business owner knows the importance of having the right tools. Just ask Lucie and Jarvis (inspired by the classic characters from Dickens’ A Tale of Two Cities !). Both set out to build their own ventures — Lucie with her organized, detail-focused approach and Jarvis with his steady, driven style. Each chose a different path to manage their finances: Lucie opened a business checking account, while Jarvis kept his personal. As their businesses grew, they quickly discovered how the right account could make all the difference.
Here’s how a free business checking account with powerful online features kept Lucie’s finances streamlined — and why Jarvis found himself managing a few extra steps.
Meet Lucie: Organized, Efficient and Ready to Grow
Lucie chose a free business checking account from the start, recognizing she’d need an efficient way to manage her business finances. Her account’s online tools made it easy to keep track of every transaction, monitor cash flow and deposit checks remotely — all without monthly maintenance fees.
Each morning, Lucie logged into online banking to review her transactions, check her automatic bill payments and look at her balances. With perks from her rewards debit card — such as discounts on business supplies — and easy access to ATMs, she was able to handle both everyday expenses and cash needs effortlessly. Plus, with a team of friendly business bankers available to support her, she knew her account could grow right along with her business.
Since she chose a dedicated account, Lucie never had to sort through personal expenses, keeping her finances clear and organized for her business needs — especially when tax season rolled around — saving her valuable time on documentation and expense tracking.
Meet Jarvis: Hardworking but Hindered by His Personal Account
Across town, Jarvis, ever the pragmatic entrepreneur, decided to use his personal checking account for his business finances, thinking it would be quicker and easier. However, managing everything in one place proved to be more challenging and labor-intensive than he expected.
Each day, he manually sifted through his statements, trying to separate business expenses from his personal spending — a task that only became more time-consuming as his business grew. When tax season came around, the lack of separation made filing even harder, leaving Jarvis scrambling to organize mixed expenses accurately. On top of that, because his personal account didn’t allow for higher transaction volumes, he often exceeded his transaction limit, incurring fees for certain withdrawals and deposits.
Without a rewards debit card, he passed up valuable points that could have benefited his business. And without access to dedicated business bankers, he lost out on expert guidance that could have made his cash management much smoother. As his business grew, the lack of these business tools started to feel like a missed opportunity.
4 Ways Free Business Checking Can Boost Your Business
After seeing how Lucie and Jarvis approached their business finances, it’s clear that the right tools can create a powerful advantage. Managing business finances shouldn’t add to your workload. The right checking account — especially one with no maintenance fees, such as Bank of Utah’s Free Business checking account — can simplify your processes, save time and fuel growth.
Here are four ways it can give you an edge:
1. Enhanced Financial Organization
Keeping your business finances organized is essential for smooth operations and a simplified tax season. With a free business checking account, you get:- Clear Separation: You can easily keep your business and personal finances distinct, making it simpler to track income, expenses and tax-deductible items like mileage.
- Efficient Record-Keeping: Important financial documents, like statements, stay organized, saving you time and minimizing errors along the way.
- Tax-Ready Reporting: Come tax season, you’ll have records ready for your accountant, making it easier to prepare accurate returns and uncover potential deductions.
2. Streamlined Operations
A business checking account can do more than hold your funds — it also supports your daily operations by providing convenient tools for remote banking. From managing payments to depositing checks, these features streamline your processes, freeing up valuable time to focus on running your business. You get:- Mobile Banking: With access from your phone or tablet, you can handle your finances wherever you are. It’s easy to deposit checks, transfer funds and pay bills on the go, which saves you time and keeps your operations running smoothly.*
- Automated Payments: Recurring payments for expenses like rent, utilities and supplier invoices can be set up to reduce the risk of late fees or missed payments, allowing you to concentrate on what matters most — growing your business.
- Remote Deposits: Electronic check deposits save you the hassle of multiple trips to the bank, which is especially helpful during busy periods.
*Mobile carrier fees and data rates may apply.
3. Professional Image
A business checking account strengthens your business’s professional image by providing tools that make a lasting impression on clients and vendors. With features like:- Custom Business Checks: Checks featuring your company name offer a simple yet impactful way to show dedication to your business. This personalized detail projects a polished, trustworthy image that enhances your credibility with clients and vendors.
- Dedicated Debit Card: A business debit card not only streamlines transactions but also signals financial stability and a commitment to security. With built-in advanced security features, it protects your funds, keeps personal and business finances separate, and shows clients and vendors that you take both organization and safety seriously.
4. Access to Banking Services
Having access to specialized banking services can be invaluable as your business grows. With a free business checking account, you’re connected to a network of support, from personalized advice to credit-building options, and even access to financing as you expand your operations.- Dedicated Business Banking: Personalized advice and support are readily available from business banking specialists who understand the unique needs of small businesses.
- Business Credit: When the time is right, you’ll find support in building credit, and as your business expands, these specialists can guide you through financing options such as a line of credit to establish a strong financial foundation.
- Business Loans: Financing options are available to support growth, expansion or capital investments, whether it’s purchasing equipment or opening a new location. And with someone who knows you and your business, you’ll feel more comfortable navigating these decisions together.
Choose the Right Path for Your Business
A free business checking account is a fantastic starter account for sole proprietors and small business owners, providing essential tools to keep finances organized and establish a solid foundation. With her free business checking account, Lucie enjoyed these advantages, helping her stay focused on growth. Jarvis, meanwhile, realized that a business-focused account could bring clarity and convenience as his own venture continued to expand.
As your business needs change, Bank of Utah’s business bankers are here to help ensure your account evolves with you. Advanced accounts offer flexibility, with Treasury Management options like ACH, Positive Pay, payroll cards, Remote Deposit Capture and more, as well as additional solutions such as Merchant Services, to support each stage of your journey.
As Dickens would say, “it is a far, far better thing” to have the right tools at your side. Whether you’re just getting started or building on your success, a free business checking account with powerful online tools can make managing finances simpler and more effective. Ready to get started? Get to know Bank of Utah’s Free Business checking account.
Brittany Heal, a Treasury Management Relationship Manager – Team Lead, supports clients in Heber, Lindon, Orem, Provo and St. George. She began her banking career in 1995 and joined Bank of Utah's Treasury Management team in 2022. Outside work, Brittany enjoys family time with her four boys, especially cheering them on at their sporting events.
