Forums: Discussions for entrepreneurs and small business.

HI,

I am looking for a new bank for our business accounts. Anyone have a suggestion?

Thanks in adavnce for your help

Cole

BB&T

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The Advice Guy
www.freeadvertisingadvice.org
Expert Advice For the Small Business Owner

I don`t know if you have them in your area - but WaMu has been great for me over the last few years.  For me the best thing is they opened a branch three blocks from my home office - and the manager and all staff know me by name.

I was with a community bank previously. The service and personal touch was great.  However, the three branch bank had no convenient locations.  Their bank card resulted in fees additional fees when I travelled and had to use ATM other than the limited selection.  They were a bit behind on getting their online capabilities up an running.

I started shopping around for a new bank just before the new WaMu branch opened near my home.  While in San Diego for a design conference I walked out of the hotel and immediately across the street was a WaMu branch.  In San Francisco the same thing happened.  A branch was also right next door to the hotel at which I regularly stayed in Seattle.  I was also at the resort Inn at Rancho Santa Fe and right down the street was a WaMu branch.  They made the decision easy for me.

In developing a relationship with the manager, she did a big favor for me.  She asked if I`d be receiving many out-of-state checks.  I told her that 80-85% of my business was with clients from outside of Oregon.  She put a notation on my account that immediately credits all deposits made - instead of the norm having a "hold" (until the check clears the bank of the client) on the crediting of funds to my account from non-local financial institutions.  It`s worth introducing yourself to a branch manager or small business services coordinator at your local bank.

- J.







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Jeff Fisher | Jeff Fisher LogoMotives | Tweet! Tweet!

It really depends as there are lots of banks out there. My suggestion to you would be to talk to the person in charge of handling business accounts at the banks you are interested in. Check out the services they provide and the fees they charge and compare them. This way you can come up with a better decision.

I had WaMu for a while and it was fine.  Then my Credit Union started offering business accounts so I opened one there.  It`s been great to have my business in the same place as my personal banking.   I pay myself via an electronic transfer.  And, my credit union has GREAT account terms.  There are almost no fees and the Business Visa has a low interest rate. 

~Kim

WAMU... free business checking.... I love it

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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

Credit unions and community banks are the way to go.

I have all of my accounts (personal and business) with my credit union, the operations staff and loan officers know me and my company and they do everything they can to support us. The personal service is un-matched, and I really could not find that anywhere else.

I only pay $5 a month for my business checking account.

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James Skinner Vice President & COO OnlineSiding LLC jskinner@onlinesiding.com www.onlinesiding.com 877-642-2496 x102

Hello,

   You might think about opening a account with a Credit Union.  Is there one in your area?  Credit Union`s typically have better interest rates and many other benefits.

    Good luck.

Ron

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Does anyone know if WaMu lets you connect to your account via Quickbooks for free? I have a "free" business account with Wacovia but they charge $12.95/month for a quickbooks "connection" fee.

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Patrick Gray
Prevoyance Group, Inc.
www.prevoyancegroup.com
info@prevoyancegroup.com

HI,

 

I just wanted to take a second and thank everyone for the great suggestions. I really appreciate it!

 

Thanks,
Cole