Thread: Good banks for business accounts?

I just found out my bank (credit union) won't take business checks. ,m:: I need to open a business account and the credit union doesn't offer that. I know a lot of banks are regional, but who do you use for you business account? What are the fees? Any stories?

Oh, bummer. I have both my personal and business accounts through a credit union, have for a long time, and look forward to never being involved with a bank again!

Can you try other credit unions in your area?

I've been with several banks as I've had several businesses over the years. As a rule of thumb, the smaller/more local the bank is the better I've been treated. So the banks I'd recommend wouldn't be available to you.

I've never had to pay any fees, unless a client bounced a check to me or I had an overdraft(s) -- often these things happen together, inviting a clusterf*ck of fees.

When I banked with national banks (Bank of America, can't remember the other one) I had every sort of problem. Funds not being credited to my account in a timely manner, holds being placed on my deposits but I wasn't notified, etc. Seems every day there was a NEW undeclared rule working against my funds availability.

I have used both Chase and Bank of America and never had any fees or problems with either of them. But with both of these banks you have to have a minimum balance to avoid monthly fees, so check that with any bank first.
Good-luck, dealing with banks can be a pain!! ,f::

chase has a no fee business account. might look into that

In NC, First Citizens has a free business checking account, with online access and everything.

I too use a local bank and they actually had accounts available to "small businesses" so fees were low or non-existent. It is great. Have your business license ready. Most banks will not allow you to open a business account without a business license.

I've banked all over with several businesses/associations. The best bank I've found so far is US Bank. depending where you are, they have branches everywhere. Plus, there is no monthly fee. AND the statements cut at the end of the month. That is a huge deal for me--I used to use a credit union for an association I'm in. The statements cut at the middle of the month. Really made closing the books a pain!

Originally Posted by BoiseShan

I've banked all over with several businesses/associations. The best bank I've found so far is US Bank. depending where you are, they have branches everywhere. Plus, there is no monthly fee. AND the statements cut at the end of the month. That is a huge deal for me--I used to use a credit union for an association I'm in. The statements cut at the middle of the month. Really made closing the books a pain!

I also use US Bank and have been very happy with them. No complaints at all.

Etrade and LPL Financial, no probs.