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Published on: Business Resources

Smart Choice: Capital One Spark Business Checking & Savings Accounts

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Capital One Spark Business Checking is a business checking account offered by Capital One, a financial services company based in the United States. Capital One was founded in 1994 as a credit card issuer, and it later expanded its operations to include banking and financial services.

The Spark Business Checking account is designed for small businesses and offers features such as online and mobile banking, unlimited check writing, and access to a network of over 39,000 ATMs. The account also offers cash management tools, such as the ability to set up automatic payments and deposit checks remotely using a mobile app.

Capital One Spark Business Checking is just one of the many financial products and services offered by Capital One to small businesses. The company also offers business credit cards, loans, and other banking products to help businesses manage their finances and grow.

Why is Capital One Spark Business Checking a good checking account for small businesses?

Capital One Spark Business Checking is a good checking account for small businesses for several reasons:

  1. No monthly service fees: This account does not have any monthly service fees, which can be helpful for small businesses that need to keep their costs low.
  2. Unlimited check writing: This account allows businesses to write an unlimited number of checks, which can be useful for those that need to make frequent payments.
  3. Online and mobile banking: The account offers online and mobile banking capabilities, which can be convenient for businesses that need to manage their finances on the go.
  4. Cash management tools: The account offers a range of cash management tools, such as the ability to set up automatic payments and deposit checks remotely using a mobile app.
  5. Wide ATM network: The account gives businesses access to a network of over 39,000 ATMs, which can be convenient for those that need to withdraw cash frequently.

Overall, Capital One Spark Business Checking is a solid checking account option for small businesses that need a no-fee account with a wide range of features and conveniences.

 

What are some of the best small business checking accounts?

There are many small business checking accounts available, and the best one for your business will depend on your specific needs and preferences. Here are a few options to consider:

  1. Capital One Spark Business Checking – This account offers features such as online and mobile banking, unlimited check writing, and access to a network of over 39,000 ATMs.
  2. Chase Business Complete Banking – This account offers features such as free account-to-account transfers, no monthly service fee, and access to over 16,000 ATMs.
  3. Wells Fargo Business Choice Checking – This account offers features such as mobile banking, free account-to-account transfers, and access to over 13,000 ATMs.
  4. Bank of America Business Fundamentals Checking – This account offers features such as online and mobile banking, free account-to-account transfers, and access to over 16,000 ATMs.
  5. PNC Bank Virtual Wallet Business – This account offers features such as online and mobile banking, free account-to-account transfers, and access to over 9,000 ATMs.

When choosing a small business checking account, it is important to consider factors such as fees, transaction limits, and the availability of online and mobile banking tools. You should also consider the bank’s reputation and the level of customer service it provides. It might be helpful to compare multiple accounts and read reviews before making a decision.

 

OUR THOUGHTS:

We’ve been using Spark Business Checking since we launched and it has been an enjoyable experience. Not only do they make depositing checks from clients a breeze, they also make it easy to send invoices right from the Spark mobile app. One thing that was a pain with other business checking accounts was the monthly “maintenance fee” that would constantly eat away at our capital while we were still in startup mode and not really generating a sustainable income. Spark Business Checking rids away that nuisance for startups by offering a business checking account with no, fees and no minimum balance.

Another great thing about spark business checking is that capital one offers a whole suite of services to complement your business checking. For instance, they automatically give you a savings account when you sign up and they also have an online store that connects everything together.

However, I must say that my two favorite features of Spark Business Checking are that it makes your deposits available the next business day AND you can also apply for a business credit card right through Capital One – for rainy days of course.

Before you go anywhere else, I would signup for Spark by Capital One and see why we love it.

Learn More About Capital One Business Checking: https://www.capitalone.com/small-business/bank/products/checking/

WHEN WE SAY NO LIMITS, WE ACTUALLY MEAN IT.

SAY GOODBYE TO RESTRICTIONS AND LIMITATIONS:

  • No monthly transaction fees or limits
  • No monthly fees
  • No minimum balance required
  • No fees for Capital One or Allpoint®ATMs

 

SAY HELLO TO BENEFITS THAT PUT YOUR BUSINESS FIRST:

  • Deposits available the next day
  • Link your digital SparkSM Business Savings account for overdraft protection
  • Free debit card
  • Snap a photo to deposit checks
  • Manage money on the go with the Spark Business mobile app
  • 40,000 fee-free ATMs nationwide
  • Free online bill pay
  • Free electronic invoicing

 

SPARK BUSINESS CHECKING MOBILE APP IS NO LONGER AVAILABLE

If you updated spark business checking’s mobile app recently, you may have noticed a notice indicating that Capital One is discontinuing the app on December 20, 2017 and that users are now required to use their mobile browser to deposit checks.

It is unfortunate that Capital One decided to discontinue the app, but when you consider that they do not have a strong presence of branches around the nation, it is just plain insane from a business perspective.

Many users stated theirdisappointmentt on GooglePlay and App Store and made sure to let Capital One that they would be moving their money to another bank.

And yet, no public statement from CapitalOne on why they decided to shut down the app. It may be a sign of the health of CapitalOne in general.

 

UPDATE February 2, 2019:

It looks as if Spark business checking no longer syncs with accounting software other than Quickbooks. We first noticed this when trying to re-sync our spark checking account with our wave accounting software last year. Our accounting software displayed a message saying our bank or credit card is no longer supported. Another spark user contacted us this week to let us know that his checking account was no longer syncing with his Quicken software.

Shoot us a message and let us know what you’re experiencing and what Capital One told you

 

UPDATE December 6, 2022:

Spark Business Checking and Savings accounts are finally available to the public again. The Business app was rolled into the consumer app and provides a seamless experience.

Unfortunately, Capital One has overhauled their business checking product and turned their backs on their customers by introducing fees and minimums. We hope that these introductions come with improved service or value-added features. Our guess is that the product became to popular and expensive to operate or they needed to find ways to improve their stock price which is down 37% from a year ago (NYSE: COF). Regardless, compared to other business checking accounts available, Capital One has a competitive product that small business owners should highly consider for their banking purposes.

 

Google Play Store: Capital One Mobile

Apple App Store: Capital One Mobile

  1. News update: Capital One announced today they are discontinuing Bill Pay for the Spark accounts. And, they are still not offering new Spark business checking looks like they are turning their back on the business customers. Very sad news, as the product was wonderful ..was.

  2. I just logged in and much to my surprise, the check that I deposited earlier this week is no longer in my account. It appears that it is an error having to do with the mobile app being discontinued. Capital One needs to get their shit together. As a small business this is really bad for us, as a few of our accounts and employees are SOL because of this error. If I needed a personal only I’d probably go with Discover or Ally. I went with Capital One because I thought there would be better integration between personal and biz checking but there hasn’t been. I hope to see better integration and just one app would be nice.

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