Best bank for teh make internet business?

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ImagesAndWords

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Nov 7, 2006
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As you know, I'm headed over to the U.S. permanently in just a couple of weeks from now. Right now I'm trying to plan and prepare as much as possible business-wise, and I'm now looking into good banks to use.

I found some old threads on recommended banks for business here and here, but things change or what not - so I'd like to hear your guys' recommendations for good business banks in 2010.

Checklist:
- must have solid online capabilities (wires, reporting, etc.)
- offline availability (# of locations)
- preferably business-oriented / business-friendly in terms of services, experience, etc.

Any banks in particular I should stay away from?
 


AFAIK there's advantages to credit unions if you can get in one.

I've been a member of one for a long while

Your best bet would probably be your local financial institutions, whoever that might be. If business-friendly is important for you, you'll want a bank/banker you can actually build a relationship with.
 
Andrew Scherer said:
AFAIK there's advantages to credit unions if you can get in one.

I've been a member of one for a long while
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depends. For smaller scale personal banking, yes. If you need some crazy security setups (key fobs, etc) for your business banking, you'll only find that at a large bank like Bank of America or Wells Fargo. There are advantages to the big guys and small guys.
 
Based on my experiences, Bank of America blows. Only used them during college as they were closest to campus. Fucked me up the ass with fees at every opportunity and were generally incompetent.
 
Stay away from TC fucking F. Their policies suck balls and their online banking system hasn't been updated since like 1997. You can't even check the balance on your checking account online because the statements are like 6 days old on there. They're just out to slam you with overdraft fees and other BS.
 
PNC, Chase, Wachovia/Wells Fargo, Bank of America...They're all basically the same, with little different benefits, so it might be worth it to take a few minutes to see the difference for which one benefits you best...I prefer Wachovia, simply because there's like 45 locations within 15 miles of my house...
 
I find with banks, for the most part, are more or less the same.

If you really want to do get what you want you need to befriend some of the people there.

...I work with HSBC and a little with RBC. With HSBC I've never had any problems. Ever. I know the branch manager, Atlantic Canada commercial lending agent, most of the lending agents, and almost all the tellers.

I have a few apartment building around town now and the savings on the second one's interest (below the set amount) is a solid five figures a years.

And the main reason I got that is just because, after getting a decent deal on the first building, I bought the branch manager a new putter (that's like $500) and had a nice basket of shit delivered to the whole office.

I've heard nothing but good things about Chase and HSBC. But make sure you get to know some people - it'll make a big difference.
 
sapphirescales said:
Stay away from TC fucking F. Their policies suck balls and their online banking system hasn't been updated since like 1997. You can't even check the balance on your checking account online because the statements are like 6 days old on there. They're just out to slam you with overdraft fees and other BS.
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LOL, my only full time job ever was with Twin City Financial, NYSE: TCB (TCF Bank's parent company). If you can't figure out your own balance it's no wonder you're dealing with overdraft fees.

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OP, I've had great relationships with Citi & HSBC.
 
Don't put all your eggs in one basket. Keep an account with one of the big boys (Chase, Bank of America, Citi etc) in your area just in case you need them and keep an account with a local credit union because for the most part credit unions are far more helpful and have more to offer.
 
Stay away from bank of america they will constantly fuck you on fees and their customer service is a joke.
 
If you aren't American, I'd suggest you get a brokerage account at eTrade, it basically works as a checking account.
The upside is that you don't pay taxes.
The downside would be offline locations, I dont think they have many.

May be good using it for business or something like that...
2cents
 
Get Chase bank or Wells Fargo.

I only recommend Chase because you can normally get $150-200 bonus for signing up. (FREE MONEY!) You also can take photos of your checks using your iPhone and it will be deposited into your account (LEET).

But... I use Wells Fargo because I can get 100 free stock trades per year ($700+ value) for being a PMA customer (I think it's like $20k balance or more).
 
Bank of America for business banking, TD if you are in NYC and want personal banking
 
kingfish said:
Stay away from bank of america they will constantly fuck you on fees and their customer service is a joke.
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Stop overdrafting and you'll be fine.

Slicker said:
Bank of America for business banking, TD if you are in NYC and want personal banking
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I had TD bank and ended up switching to BOA. Wouldn't go back.


Bank of America, here. (with Orange ING savings)


In all reality... go with a bank in which you will have many in your area... and if possible, across the US. (Bank of America among a few others)
 
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