Paper checks are becoming increasingly obsolete. MSN Money columnist Liz Pulliam Weston recommends to her readers that due to regulatory changes allowing banks to complete all transactions electronically, they should transition from checks to a more efficient means of payment. For many consumers, this transition will occur with credit and debit cards. If your business checking account is with U.S Bank or you plan on moving it there, consider setting up a merchant services account with the bank to be able to accept credit cards.
Decide on the types of payment you wish to accept. With U.S. Bank, you can get set up to accept credit and debit cards, along with corporate credit cards and other payment options such as electronic checks. Consider how your business is likely to use these payment options and which make the most sense in the context of your activity.