Who do you bank with

Discussion in 'Business Operations' started by chipk1, Dec 30, 2011.

  1. chipk1

    chipk1 LawnSite Senior Member
    from Florida
    Messages: 398

    AS of Jan 2, I will be switching to a S-Corp from Sole-proprietor. I have been banking with Bank of America. Being that I will have to close that business checking account and re-open a new one under the Corporation, I thought maybe I should check around to see if I am at the best place.

    So my question to you guys is: Who do you bank, are you really happy with them and why?
  2. grass-scapes

    grass-scapes LawnSite Bronze Member
    Messages: 1,552

    I have been using Bank of America for 12 years. My fees are actually cheaper than if I switched. They have also just introduced the small business remote check deposit. Scan your checks from your desk and make your deposit. I think its 30 bucks a month but no per check fee. Others that I have checked into have a smaller fee, but a fee per check very similar to a credit card transaction.

    I had considered switching but most of the small business accounts around here are the same fee structure. What helps me is I maintain 11 BOA branches, so I am at one every day.

    Im not saying they are the best....It just works out for me. I did the same thing you did back in 2005. Went from sole prop to s-corp and had to get a new account. I have 2 BOA accounts. One general operating account, and one payroll/tax account. I pay no fees on the gen op account, and 14 bucks a month for the payroll/tax account. They will only waive fees on one account for me, but I have no other fees on these accounts.
  3. KS_Grasscutter

    KS_Grasscutter LawnSite Gold Member
    Messages: 3,335

    I have a personal as well as a business account through our local credit union. I pay no monthly fees at all. I also have my loans through them. Its nice having everything in 1 place.
    Posted via Mobile Device
  4. Kelly's Landscaping

    Kelly's Landscaping LawnSite Platinum Member
    Messages: 4,638

    People's bank for just one reason they have branches in all the stop & shop stores here so they are open till 7 pm every week night and 11 am till 4 pm on weekends. More often then not when we do have time to put together a deposit it would be when most banks are closed. As for the deposit bag idea sounded great till we found out we would then have to make time to go there and get it back in banking hours. Which sorta defeats the purpose if we had that time we wouldn't need after hours banking ability's in the first place.
  5. badbart

    badbart LawnSite Member
    Messages: 204

    I've used credit unions for many years and have had nothing but good service and low, if any, fees.

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