Business Banking ?

[LLSolutions]

LocaL to me are Chase, TD, and BoA. I have my Personal with Chase, looking to move my business to one of these three. Any opinions, preferences, or experience. My annual volume for this business is around 200k.

 

[kwired]

I would say this is a little like asking if you should buy supplies at an electrical wholesale supply house, or HD. Or maybe you could ask your customers why they should choose you vs some large contractor.

Each is going to have its own features, perks, etc. and only you will know what you like best about these things.

 

[LLSolutions]

Just curious, I'm in new york, and although I like the smaller banks, the way thing go around here soon or a later they will have been bought out by one of the big ones. I know some seem to treat small businesses better than others.

 

[cadpoint]

This is a great time to review all that one's bank do offer!

I heard that all banks are already or currently changing how they do charge for all
their services. Everyone should review their individual account(s)!

As far as a bank, I'd go with the one that is honored to service your money and takes the least of it, to do it.

Account wise they are almost all the same and a business account is like pouring water in a well, how a bank lets you draw on it is their individual call.

Banking and Insurance... I'll just lump them together... (& reserves comments.)

 

[kwired]

Lets just say as far a having a place to deposit your daily operating funds pick which ever one is most convenient. They do not differ too much in policies concerning a simple checking account. If you have one place nearby or along a route you routinely travel it is better than having to go out of your way for daily deposits. You can always transfer, write checks, etc. to move it someplace else when making investments, or placing in savings, CD's or whatever.

 

[ceknight]

As far as a bank, I'd go with the one that is honored to service your money and takes the least of it, to do it.

That's pretty much my standard. Fewest fees, and an account manager that calls every 3 or 4 months to ask if there's anything he can do for me.

 

[masterinbama]

I use Regions. They are multi state and I get my credit card processing through them to. I also have a check scanner that credits checks to me instantly from my office. Even though it does cost to process checks this way I know they are good the second I scan them.

 

[G._S._Ohm]

Search on the Web for scandals.
I think Bank of America has some dirt on their stick and Chase certainly has pretended to No Speakee English with me at times.
If they all have scandals drill down into the details.

The credit card companies have been in the Washington Post lately and not in a good way. Nowadays that may not even bother them.

 

[Riograndeelectric]

I have my Business, auto loan and credit cards and personal checking with a Credit Union,lower fees, personal account reps & mangers very easy to get along with. I ahve been doing business with them since 2006

I like the fact the I can go on-line with my Credit Union and have access to all my accounts.c an transfer funds from business to personal over the Internet.

Credit Unions have come a long ways and are able to compete with big banks and at the same time offer lower fees than a bank since Credit Unions are non profit and are owned by all members of the Credit Union.

 

[dduffee260]

We use a small hometown bank. Although we do have credit cards from the larger banks our equipment, real estate and operating loans are from the small bank. I would not have it any other way. Small banks are just so easy to deal with on the communications end.

 

[__dan]

Bank of America has the best online banking and online bill pay system, super easy to use. I online bill pay everything, never go back to stamps and envelopes. Personal checking with online bill pay is free if you sign up online with low min deposit, no fee checking. Business checking is free with 10G deposit.

Wells Fargo is very solid and business oriented. If you want a business credit line, WF is worth an inquiry. I almost never look at my WF account online because BOA is so much easier to use.

Local business stuff, try looking for the right person, bank branch manager, someone you can buy lunch and pick their brain. Find the right guy and you would be surprised how much they know, especially about local real estate. Who the owners are, who the buyers are, what properties are moving or in distress. They know what the sale prices are because they know how much they would lend on it.