Forums: Discussions for entrepreneurs and small business.

Hi all,

I have banked online for years and literally haven`t had a branch bank since my high school job at the mall.  Online has worked out fine for my personal direct deposit needs, but what about business?  Can you manage an online business with an online bank or do you need a branch?  If you need a branch, will a smaller, regional bank work or do you need one of those national powerhouses?  (I loathe Bank of America and there`s no WaMu in my area code.)

Thanks,

Diana

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"Whether you think you can or you think you can`t, you`re right."
paraphrased Henry Ford

I`ve used an on-line bank for years myself, for both my personal banking and my merchant account.

In fact, I pay all my vendors thru my on-line bill pay features. They love it ... they simply e-mail or fax me the invoice (my faxes come to me as a .tif file)... I save it into their file on my hard drive ... log on to my bank ... "cut the check" ... and the bank does the rest. I never need to worry about envelopes, stamps, ect.

If you need a resource, here`s who I use ...

http://www.tabbank.com

Take care, TJ

The best bet is to go with a large bank if there`s one around you or perhaps Citizen Business Bank or something like that. There is really no big difference between a business and a personal account the only thing some banks charge fees if it`s a business account. Personally I use WAMU for my business Banking. and I use a payment gateway such as linkpoint or Authorize.net to accept online payments (online gateway).

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Edgar Monroy
Web Developer / Owner / Consultant
When starting your own business the need to "know-how" is greater than money!
http://www.nuevolution.net

I have taken the same route as TJ...and it is a pleasure.

Be careful about fraudulent e-mails though...I get a lot of phone e-mails that use the name of my bank, asking me to "verify" my account information...do NOT open those type of notes.

Best of luck. 

I do most of my personal and business banking online - with WaMu.  About two years ago WaMu built a new branch about 2.5 blocks from my home studio.  Visits to the branch, and the fact I have a business P.O. Box, do occasionally give me the needed excuse to take a shower, get dressed and go out into the world to interact with other real live humans.

- J.






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Jeff Fisher | Jeff Fisher LogoMotives | Tweet! Tweet!