.png?sfvrsn=2375f42f_1)
Small Business Savings Accounts
Planning for your future starts now. BankUnited’s small business savings accounts and business deposit services offer competitive interest rates and flexible terms that keep your money working for you. Choose the right savings strategy for your business.
BUSINESS SAVINGS ACCOUNT
$100
minimum opening deposit
- $5 monthly maintenance fee - Avoid maintenance fee by maintaining minimum daily balance of $500 or minimum monthly balance of $1,500
- No Transaction Limits
- Interest Bearing - Paid Quarterly
BUSINESS MONEY MARKET ACCOUNT
$100
minimum opening deposit
- $15 monthly maintenance fee - Avoid maintenance fee by maintaining minimum daily balance of $2,500
- No Transaction Limits
- Interest Bearing - Paid Monthly
BUSINESS CERTIFICATE OF DEPOSIT
$1,000
minimum opening deposit
- $0 monthly maintenance fee 0
- Interest Bearing - Paid Monthly or Quarterly
- You may not make any deposits into your CD Account before maturity. You may not make withdrawals of principal from your CD Account before maturity unless we consent and an early withdrawal penalty may be imposed. You may withdraw interest that has been credited to your CD Account before maturity.
Cash Flow Tools
Integrated Business Banking
Enhance your small business savings accounts with solutions that support daily operations and long term growth. Pair your savings strategy with accounts designed for flexibility and efficiency.
Contact Us
Everyday Banking
Business Checking Accounts
Manage daily transactions while keeping your savings intact with a business checking account designed for flexibility and control.
Contact Us
Optimize Cash Flow
Treasury Solutions
Streamline your business deposit services with tools that help manage liquidity, payments, and cash positioning more effectively
Learn More
Small Business Savings Money Market and CD Account Banking FAQs
Get answers to common questions about small business savings accounts, business money market accounts, and CDs. Learn how to choose the right option to support your financial goals.
A business savings account typically offers straightforward interest earnings with lower balance requirements, while a business money market account may offer higher business money market rates with higher balance thresholds.
Business CD accounts allow you to deposit funds for a fixed term in exchange for a guaranteed interest rate. Funds are generally not accessible until maturity without a penalty.
To open a business savings account, you typically need business formation documents, an EIN, and an initial deposit that meets the minimum requirement.
Transaction capabilities may vary by account type, but BankUnited offers flexible options within its business deposit services to support your needs.
We're Here to Help You
Have a question about our products or services? We’ve got multiple ways you can get in touch with a Client Care Center representative.
Featured Insights
Get insights on starting and managing cash flow, protecting your assets, stories from real clients, and much more.
Cybersecurity Best Practices for Small Businesses
Feb 1, 2024, 13:22 PM
Title :
Cybersecurity Best Practices for Small Businesses
Bank united author :
eFraud Prevention
Featured :
No
Display order :
Learn some best practices to protect you and your business from cyber fraud.
Cybersecurity is a growing concern for many organizations, regardless of size. While you can never fully take away the risk of an attack or breach, with some planning, due diligence, and regular review, you can take helpful steps to protect your entity in this important area.
Operations & Human Resources
Educate Your Employees. Data breaches are often caused by employees – navigating to sites infected with malware, downloading infected attachments, and/or accessing Wi-Fi from an unsecured location. Educate your employees on your policies and why they are in place. Encourage them to frequently change passwords and offer guidelines on creating secure passwords.
Review Accounts and Financial Statements. Review your operating business account(s) and financial statements for suspicious amounts or vendors. By keeping a regular pulse on the financial state of your business, you will be more likely to recognize the fraudulent activity.
Segregation of Duties. Regularly review your company’s segregation of duties for any gaps, especially if there has been staff turnover in the accounting department. This issue is best dealt with as soon as an employee leaves, but you may find it helpful to set a regular review schedule to ensure that proper controls are in place.
Technology Controls. When reviewing gaps in employee turnover, don’t forget technology controls. Companies often forget to change access codes and passwords when an employee leaves, leaving their technology at risk. A regular review of policies and access levels will help to prevent security breaches.
Data Security. Recovering all data from the desktop hard drive and notifying vendors so that this individual cannot place orders or incur obligations on behalf of the company.
Company Policies and Educational Processes
Each year, companies should review their anti-fraud and whistleblower policies to ensure they are still effective for the company’s current size and that they are serving their intended purpose. While these are general risk areas that affect every company, it is essential to understand your business’ specific risks, which will depend on your size, structure and industry. Involve your Board of Directors, Audit Committee, or Certified Public Accountant as appropriate. Larger organizations may want to engage a Certified Fraud Examiner to help it review and develop the appropriate controls. A small-time investment upfront may just pay off by preventing costly fraud expenses.
Internal Controls and Policies. Just like you have internal controls for your financial processes, you need controls and policies around your IT assets, as well. Ensure that passwords are changed, and access is removed for terminated employees as soon as possible, and limit employee access to sensitive data.
Develop and communicate clear policies for employees regarding what devices they can use, what types of programs/applications they can download, and how to securely access Wi-Fi when needed. Make sure to communicate clear policies around your company’s IT security controls to help decrease your company’s vulnerability.
Mobile Devices
- Implement a mobile device management program, requiring authentication to unlock a device, locking out a device after failed attempts, using encrypted data communications/storage, and enabling the remote wiping of devices if a mobile device is lost or stolen.
- Permit only authorized wireless devices to connect to your network, including point of sale terminals and credit card devices, and encrypt communications with wireless devices such as routers and printers. Keep all "guest" network access on separate servers and access devices with strong encryption such as WPA2 with AES encryption or use of an IPSec VPN.
topic :
- Fraud Prevention
media :
- Article
Rates and annual percentage yields (APYs) are effective as of the date indicated and are subject to change without notice unless otherwise stated. Fees may reduce earnings on the account. Products, services, fees, terms and conditions are subject to change. Certain restrictions and limitations may apply. Contact BankUnited for complete account details.
Please review the see our Deposit Account Agreement, Business Schedule of Fees and Funds Availability Disclosure for complete details.