Hey guys I'm starting a new business and I want to set up a simple checking account for it. I went around to Wachovia and BoA and they both charge ridiculous fees just to have the account open with them, and i'm on a tight budget (haven't made a dime yet! lol) If anyone knows a good bank they can recommend around here that won't charge any fees to have a business checking account with them and also has online banking features, i'd love to hear your recommendations. Thanks!

8/10/2012 7:42:31 AM

What about a credit union or are there some features that banks offer that you need for your business that are not offered by CUs?

8/10/2012 7:55:52 AM

ya i need to check out SECU, i don't need anything special, just a basic checking account. Will eventually want to connect it to a business credit card to pay bills online.

8/10/2012 8:18:25 AM

Coastal Federal CU is pretty baller.

8/10/2012 9:00:05 AM

I used First Citizens for my company's accounts. They don't have the easy quickbooks shit, but I learned most banks charge 15 bucks for that shit.

8/10/2012 10:16:55 AM

Quote :

"Wachovia and BoA"

Wachovia doesn't even exist anymore, it's wells fargo. Makes me wonder if you actually did "go around".




The answer is definitely credit union.


Don't stop bank/CU shopping until you've talked to every one. thanks.

8/10/2012 3:33:42 PM

do not bank at wells fargo, they are only ok compared to wachovia ( they are better, but not much) and credit unions are by far more superior like already stated ITT

8/10/2012 3:38:04 PM

i'll save you the trouble of asking SECU...they don't offer business accounts at all.

8/10/2012 4:04:52 PM

BB&T, hands down. I've had several businesses with them over the past 14 years. They have repeatedly amazed me how much more flexible and understanding they are for small businesses than Wachovia/Wells Fargo or BoA.

The last time I opened a business account, we needed a line of credit + checking. BoA demanded we seed a savings account with a dollar for dollar match for the line of credit (which completely defeats the fucking purpose), and Wachovia wanted us to open personal accounts, fund them with at least 25k and then link them as guarantors to the business account (an S-Corp no less). I laughed in their face.

BB&T got us a checking account + credit cards for line of credit and all we had to do was maintain a 500 dollar balance. It took less than an hour. They were awesome as usual.

8/10/2012 4:39:05 PM

Thanks guys

And lol at wachovia ya I know it's wells Fargo now my bad I've had accts w them for >10 years so I still think Wachovia in my head, but I def went to them they had 3 different business acct plans like gold silver and something else but even the most basic had a charge it's ridiculous

8/10/2012 5:02:53 PM

Also recommend BB&T. Extremely good service and their fees are quite modest.

8/10/2012 7:29:06 PM

Go to BB&T on duraleigh they are super nice.

8/10/2012 9:46:24 PM

We use 5/3 as we found better terms and customer service than what was found at BB&T. Plus there is a branch around the corner.

8/11/2012 1:30:19 PM

Again, people don't seem to understand how banks work.

They don't want your business (no offense) so they charge huge fees hoping that you'll go away.

Bb&t is a much more desperate bank so they'll take on junky business with the hope it helps them somehow down the line.

8/11/2012 8:11:54 PM

BB&T staff must get graded on how many accounts they open.

I have like 5 accounts there, only one has money in it, only because its a security deposit and I cant legally keep it in a credit union.

8/11/2012 9:50:56 PM

Crescent State Bank is specializing in small business financials.

Pentagon Federal has great deals on car loans and mortgages you might check them out to see if they do small business loans.

8/11/2012 10:27:30 PM

Quote :

"Bb&t is a much more desperate bank so they'll take on junky business with the hope it helps them somehow down the line. "

This couldn't be further from the truth. The difference is that BB&T isn't run by incompetent assholes who surround themselves with like minded employees.

BB&T is one of the biggest banks in the country (it's currently #17)

If you want to see the real difference, read the values & philosophy for BB&T vs BoA or Wells Fargo or any other super bank. It's night and day. They are a great bank to do business with because they value long term community investment over short term investor return. And it shows in everything they do.

8/12/2012 5:55:00 AM