Home: Message List - Business Bank Account...?

Re: Business Bank Account...?

MoneyforBiz — Fri, 22 Feb 2008 22:46:36 GMT

I would suggest your local credit union.....you can establish a relationship with them for half the cost of the big commercial banks and normally they are looking to establish rapport with area businesses for community awareness and exposure......

Re: Business Bank Account...?

clnshirtz — Fri, 22 Feb 2008 22:15:53 GMT

In case you have not made a decision, I have to say that because of this site I went into a BofA branch and opened an account and it reminded me that while the price of the checking account is important, you need to think about other things. For example, I thought they had a lot of good online tools. Also, they talked about whether I needed a loan. I would make sure the bank is really got the stuff your business needs. Free is great (and I did get a free account), but probably not most important

Re: Business Bank Account...?

Block22 — Tue, 08 Jan 2008 04:35:52 GMT

Thank you for the information that you sheared with me, i realy appreciate it .
The first step is the hardest but... we will cross that bridge , and safely.

Re: Business Bank Account...?

CorpCons08 — Mon, 07 Jan 2008 22:39:31 GMT

Try this guide to help you make your decision:

http://www.work.com/small-business-checking-2176

CC08

Re: Business Bank Account...?

rowzlandson — Mon, 07 Jan 2008 22:27:50 GMT

One other note, though, sometimes a checking account from WAMU won't be in your best interests, such as the hold they put on deposited checks...I use a local credit union and it's worked out well for me, although I'm sure WAMU has plenty of satisfied customers as well.

Re: Business Bank Account...?

LUCKIEST — Mon, 07 Jan 2008 22:24:04 GMT

Block22, Since it is a new business, and you personally am new in the U.S.A, look into SCORE.
SCORE helps people in business FREE of charge. If you need more info on SCORE, let me know.
LUCKIEST

Re: Business Bank Account...?

amspcs — Mon, 07 Jan 2008 21:53:42 GMT

Before I put my two cents in, let me begin by wishing one and all a happy and healthy 2008.

Several people have mentioned the merits of finding a free business account. To be sure, nobody appreciates free more than I do, and there are certainly many banks out there offering 'free' accounts.

I have found, however, that these 'free' accounts tend to attrach heavy numbers of individuals seeking free banking accounts, as opposed to business accounts. That means the lobbies and drive-thru lanes are always crowded and every time you stop in to make a deposit or conduct any kind of banking business, you can expect to be there awhile. "Time is money" as they say, and wasting a half-hour of my valuable time standing in a bank line in order to save less than a dollar a day in bank fees doesn't sound like a bargain or smart business decision to me.

I therefore submit that your choice of bank should be the combination of reasonable (not necessarily free) fees along with convenience in terms of physical location, banking hours, ammeneties (Saturday banking , drive-thru ATMS, lots of well-manned drive-thru lanes)etc.) just to name a few.

Hope this helps.
Barry
Automated Merchant Solutions
www.merchantservices-help.com

Re: Business Bank Account...?

Block22 — Mon, 07 Jan 2008 20:42:02 GMT

Hi there,
Yes it is a new business, and i personally am new in the U.S.A., so it makes everything new, doesn't it? ,
Thank you for the quick response.
Gur

Re: Business Bank Account...?

DomainDiva — Mon, 07 Jan 2008 19:55:40 GMT

My favorite word here..FREE.

Chase, Bof A & WAMU have free business checking. Start making the rounds to each branch close to your home or office. Websites and phone calls are useless when establishing a business banking relationship.

Re: Business Bank Account...?

DomainDiva — Mon, 07 Jan 2008 19:34:40 GMT

FREE FREE FREE...

Thats what you are looking for. Some banks amortize your monthly balance and charge outlandish fees.

I have free business chekcing at Washington Mutual. Mind now WAMU is not a bank its' a thrift and is regulated by the US Treasury department. WAMU may not have the capacity to loan as much money as you may need in the future such as Chase.

Chase also has some business checking programs as well. Start making personal visits to the beanches located nearest to your home or office so you can talk face to face and get some real information. Phone calls and websites are pretty useless when it comes to establishing a business relationship.