Author Topic: Where do you do your business banking? Looking for recommendations ...  (Read 1862 times)

LZZ

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I am looking for recommendations to move away for Chase for business banking.  I see no point in moving to Citi, BoA or WF ;-)
I use Ally for my personal banking but they won't open accounts for companies.  TD Bank charge higher fees than Chase for business accounts on initial research - any other folks got banks they can recommend using for a LLC or S-corp?

Sorry if this is covered in another thread - I didn't find anything when I did a search.

brute

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Re: Where do you do your business banking? Looking for recommendations ...
« Reply #1 on: February 03, 2017, 01:59:15 PM »
I just use my credit union. It isn't quite as convenient for linking accounts, but it wins hands down on everything else.

LZZ

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Re: Where do you do your business banking? Looking for recommendations ...
« Reply #2 on: February 03, 2017, 02:15:57 PM »
And the credit union allowed you to open an account under your business name and business tax ID?  Interesting - I can try that ...

I just use my credit union. It isn't quite as convenient for linking accounts, but it wins hands down on everything else.

LZZ

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Re: Where do you do your business banking? Looking for recommendations ...
« Reply #3 on: February 03, 2017, 02:19:57 PM »
I did a google search after previous post for "credit union business banking" and found this nerdwallet article ... I will research these banks ... article never came up in previous searches I did! 

https://www.nerdwallet.com/blog/banking/find-free-business-checking-account/

SilveradoBojangles

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Re: Where do you do your business banking? Looking for recommendations ...
« Reply #4 on: February 03, 2017, 02:24:01 PM »
I have been using Small Business Bank (formerly Gardner Bank) for about 9 months now. No complaints, and I think I pay 99 cents a month. Their website/app is a bit clunky, but I mostly just use them to deposit checks via the mobile app and issue checks. The customer service has been excellent.

Proud Foot

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Re: Where do you do your business banking? Looking for recommendations ...
« Reply #5 on: February 03, 2017, 03:59:21 PM »
The biggest thing is figuring out what the banking needs are for your business.  In addition to checking out a credit union, look into what the local banks can offer.  Develop a good relationship with a local banker and it could open up more opportunities for your business.

chasesfish

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Re: Where do you do your business banking? Looking for recommendations ...
« Reply #6 on: February 03, 2017, 04:22:01 PM »
Choose based on minimums, fees, and mobile deposit limits.  That usually means a regional/large community bank.  I'd rather not make a specific recommendation because I'm biased.

brute

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Re: Where do you do your business banking? Looking for recommendations ...
« Reply #7 on: February 04, 2017, 12:08:01 PM »
And the credit union allowed you to open an account under your business name and business tax ID?  Interesting - I can try that ...

I just use my credit union. It isn't quite as convenient for linking accounts, but it wins hands down on everything else.

They did! I was actually a little surprised,  but it's been really helpful. Good interest rates, they don't charge for handling checks. Granted I have a few large checks each month rather than a ton of smaller ones, but it's working well for me.

AK

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Re: Where do you do your business banking? Looking for recommendations ...
« Reply #8 on: February 05, 2017, 05:38:35 AM »
I went with my credit union too. Their online site is good and the service has been excellent too. One minor hiccup is that QuickBooks Online is not able to connect to the checking account to automatically pull in transactions so I have to do it manually.

My primary bank is BofA and they wanted to charge a monthly fee based on how many transactions are done which seems ludicrous to me.

Bbqmustache

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Re: Where do you do your business banking? Looking for recommendations ...
« Reply #9 on: February 05, 2017, 06:42:22 AM »
One of the local credit unions gave me a no monthly fee, no minimum checking account, even letting me remote deposit checks with no fees.  Winner winner, etc.  MECU in Baltimore MD

LZZ

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Re: Where do you do your business banking? Looking for recommendations ...
« Reply #10 on: February 05, 2017, 02:17:42 PM »
thanks everyone ... gonna check out the local credit union!