What is the best bank to open a business account in New York?I opened a business account with Chase, I an not having a good experience til this point. Any suggestions on another bank that has reasonable fees? | |
What is the best bank to open a business account in New York?I opened a business account with Chase, I an not having a good experience til this point. Any suggestions on another bank that has reasonable fees? | |
Really depends on how you run your business. Guidelines on business accounts are usually a little more strict than consumer accounts because they expose the bank to more risk. You need to determine what is important to you; locations, long hours, fees etc. Large banks may charge more but have nore locations and longer hours and typically carry more cash on hand making large withdrawals of cash and coin easier if you have a cash heavy business.
If your issues come from checks being held and funds not being available, then that is because your relationship is new. The bank exposes itself to risk when you deposit items because they take a few days to clear. So the bank will hold your funds until your more established. If that's the problem stay where you are and allow the bank to become familiar with the way you do business.
Remember cost is only an issue in the abcense of value.