Market Watch

Finance App Hatch Brings Perks to Online Business Checking Accounts

The future of small business checking is in fintech, and Hatch is at the center of it.

With a keen focus on SMBs, business checking platform Hatch is bringing new life into online business checking accounts. The Hatch app provides lots of perks that small businesses in particular can take maximum advantage of.

This is a deliberate effort by Hatch to help small business owners save cash on traditional bank fees and, of course, your enterprise also gets an online business checking account.

Hatch offers a convenient way of checking your balance, paying bills, and transferring funds between accounts via smartphone or computer. You can easily handle all your financial needs without setting foot in a bank.

In today’s world, an online business checking account is a must-have for many reasons:

  • Lets you separate your personal finances from business finances.
  • Enables auto-payment of regular expenses as well as transfer of funds between accounts.
  • Depending on the service provider, you can send and receive electronic checks from your online business checking account.
  • Doesn’t tie you to business working hours because you use a smartphone or computer. As such, you can conduct transactions on your account or check balances at any time of day or night.

Perks, Perks, and More Perks

The Hatch online checking account is particularly good for SMBs. The moment you sign up for one, your business is welcomed with exclusive perks. These are mostly savings on essential tools and services that your business needs to grow.

For example, you get 6 months’ worth of free Drip POS, which also includes a free wireless card reader. You’ll find it absolutely invaluable if your business is in retail, hospitality or any industry that requires a point-of-sale system. Additionally, Hatch’s customers get $3,000 worth of free processing with Square.

For marketing and customer services, Hatch has partnered with Constant Contact to offer its customers 20% off. That’s in addition to 14 days of free SEMrush, 20% off Unbounce, 30 days free WAYB, $300 worth of Yelp credit and 30% off Zendesk.

You’re not just covered in sales and marketing alone. The Hatch online business checking account also comes with lots of management tools. Perhaps the one that stands out most is Buddy Punch, which tracks employee schedules and simplifies payroll.

Buddy Punch is a premium software, but Hatch gives it to you for free for 30 days. Alternatively, you can opt to use Gusto, which serves more or less the same purpose as Buddy Punch. In which case you’ll get it free for 3 months. The icing on the cake is 20% off Zenefits and $200 worth of sponsored job credits in indeed for hiring and managing personnel.

Worried about accounting for your small business? Well, how does 50% off QuickBooks for 6 months sound? Or perhaps you would prefer 25% off Xero for 3 months. Either way, any of the two will save you the time and money you would spend on outsourcing accounting services.

Those are just some of the perks that Hatch has lined up for its customers. Others include SignEasy and PandaDoc, both of which are critical to document management and safety. Combined, these perks can save a small business in excess of a thousand dollars’ worth of management, accounting, sales, marketing and HR tools.

Tailored for Small Businesses

Traditional banking has never really been friendly to small businesses. That’s due to its high minimum deposit requirements, costly account maintenance fees, high interest on credit and many bottlenecks when trying to access credit in the first place. It’s just not suitable for a small or medium-sized enterprise, which typically runs on low margins and high cash flows.

Hatch solves many of the problems that are associated with traditional banking. Alongside all the exclusive perks that come with a Hatch business checking account, the company does away with non-sufficient funds (NSF), monthly minimums, card replacement charges, ACH transfer and other fees.

Account maintenance is a mere $10 per month and you get up to 5% cashback rewards when you make purchases. At the end of the day, the cashbacks easily outweigh the 10-dollar maintenance fee. The grand effect is that Hatch’s elimination of fees puts more money into your business.

Just as important, Hatch offers an affordable line of credit and overdraft. Both are customized for small businesses that are either starting up or growing. For that reason, the company doesn’t check credit scores when approving credit. That’s what makes it the go-to lender for small business owners who have had a less-than-decent credit history.

Quick and Easy Application Procedure

Getting Hatch’s perks is pretty straightforward. There are no questions, no papers; just you and your computer, tablet or smartphone. Make sure it has access to the internet, and then log in to your Hatch dashboard.

Of course, you would need to be an existing Hatch customer before you start using the perks. You can sign up online if you’re not already a customer. But if you are, then from your dashboard, head over to the “Perks” section. Add the ones that can help your business and then checkout to apply the discounts.