recomendations for banking services for my small business...?

I have about $100k to start up a small business in LA area, So Cal. I will probably drop about 40k in the first 2 months.

I need to pick a bank. So far I've seen reams of poorly presented comparison info on negligible differences.

I do need checking obviously, and would llike bill pay. I want to turn interest on the unused capital. I need the bank to be friendly to credit card transactions, w/ minimum of fees. Wouldn't mind carrying credit card with the same bank, so need to think about associated fees and maybe a spending report.

Please list banks you think are good for me to consider. National, or at least multi-state only please.

3 Answers

  • 1 decade ago
    Favorite Answer

    I hear a lot of good things about Wells Fargo, Citibank, and Business Bank of California. I don't thing that you can go wrong with any of these. All of them offer complete corporate card programs and bill pay, too.

    Also, you don't have to tie your credit card processing to your bank - it is a completely separate service. What most people don't know is that your bank's credit card processing services are usually offered by a completely different company that pays your bank for the customers generated. Look around for a processor that suits your needs and they will be able to deposit into your bank - no matter which bank you choose.

  • 1 decade ago

    I have found that Capital One is pretty small business friendly. Check them out and see what you think.

  • 1 decade ago

    Whatever you do, please do not choose Bank of America...I quit there for another job, but if I had to choose a bank for would NEVER be Bank of AMerica...AND if you do not choose to listen to my advice, then please keep close tabs on your balance, and question anything you may find discrepancies in....

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