Solid Goldberger Posted June 6, 2012 Report Share Posted June 6, 2012 Hello Friends, I'm in the process of opening my first proper Business Checking account after making "Solid Goldberger, Inc." an official corporation. I was wondering if any of you have any preferences for one bank or another. A few notes about myself: --Business entity is an S-Corp, if that matters --I'm based in Manhattan (having a brick-and-mortar location here is pretty important i'd think). --Will be running quickbooks for invoicing/payroll, so one with online access that integrates well is a plus . --Mac/iPhone/iPad user (electronic services that work well with these platforms is essential). Thanks in advance! e. Quote Link to comment Share on other sites More sharing options...
Wandering Ear Posted June 6, 2012 Report Share Posted June 6, 2012 I'm a huge fan of Credit Unions. I have personal relationships built with the people who service my accounts, and have had far fewer issue than when I've been with larger banks. Usually better interest rates too. Just my thoughts. Quote Link to comment Share on other sites More sharing options...
Solid Goldberger Posted June 6, 2012 Author Report Share Posted June 6, 2012 I have a few friends with military parents who bank with credit unions, but i was under the impression you need to be a part of whichever group oversees the union. Are their any that are good that would allow a lone wolf like me? e. Quote Link to comment Share on other sites More sharing options...
Matt Radlauer Posted June 6, 2012 Report Share Posted June 6, 2012 I am an LLC and I went with Wells Fargo...While I'm not a huge fan of the big banking corporations I chose them because they are so big...and they are everywhere!! They have a pretty decent phone app for android/iphone. I can deposit checks at their ATM without and envelope...they just scan, and their mobile app will have that same ability soon so I wont even have to hit a branch. Fund availability sucks because they are backed by federal reserve where the CU's generally make your whole deposit available right away. There are pro's/con's to either...Wells has been pretty good to me thus far. No major issues...or even minor ones to speak of. Quote Link to comment Share on other sites More sharing options...
Tom Visser Posted June 6, 2012 Report Share Posted June 6, 2012 For my NYC business, I banked with Chase Manhattan. The amount of bank fees was quite extreme. It was convenient in the fact that there were branches everywhere and customer support was always great, including personal banking assistance, it was just expensive. I've never had as good online support and access to my accounts. I have a feeling that they are better suited to larger businesses though and may not be the best choice for small business. Quote Link to comment Share on other sites More sharing options...
Wandering Ear Posted June 6, 2012 Report Share Posted June 6, 2012 I have a few friends with military parents who bank with credit unions, but i was under the impression you need to be a part of whichever group oversees the union. Are their any that are good that would allow a lone wolf like me? e. It depends on the CU. Some are restricted to certain groups, but many are open to all residents of the state. I don't know the CUs in NY, I only know the ones in Seattle, so I can't help you pick one in NY. Happy bank hunting. Quote Link to comment Share on other sites More sharing options...
S Harber Posted June 6, 2012 Report Share Posted June 6, 2012 I use a CU and moved 8 accounts out of WF a few years ago. Couldn't do the mortgage part but... WF would withdraw funds from my checks written out of my checking accounts when they were written rather than when the recipient cashed them. This seemed very strange to me and they also treated me like a total D bag even though I was a long time customer with many accounts and got all pie eyed when I called them on all their BS on the way out. The CU route has been great and I can't say enough about how they've been helpful, cheaper, and not as clueless and detached as my previous banks have been. Scott Harber Quote Link to comment Share on other sites More sharing options...
AndyB Posted June 6, 2012 Report Share Posted June 6, 2012 Another fan of Credit Unions here. Been with the NC State Employee's CU since 1990. I got brought into it by my ex-mother-in-law who was a state employee. I know there is at least one "open to the public" credit union in Western NC, so look around in your area. There's bound to be one. Nothing like knowing the tellers by name and them knowing you by name! Had an issue about 10 years ago where I got a call from the CU. They wanted to know if I was in Mexico on a vacation or something. "No", I replied, "why"? They saw a charge on my debit card that originated from Mexico, thought "well that's unusual" and gave me a call. Upshot was that someone had got my card info somehow and tried using it in Mexico. They took the time to check with me, then cancelled that transaction, issued me a new card and no harm was done. I like that kind of service and attention to detail. Edit to add...Plus I have interest bearing checking account! Quote Link to comment Share on other sites More sharing options...
OmahaAudio Posted June 6, 2012 Report Share Posted June 6, 2012 What has any big American bank done lately that begs you to trust them? They screw up and then demand rescue. They treat their customers like shit and then troll for more. They easily borrow money from the Federal Reserve at one percent or less and then charge their credit card customers 15 to 20 interest on the money that they've borrowed. It's bullshit, bailouts and buggery. Go for a credit union or a good mid-size regional bank (I like US Bank). Don't be swayed by the "we've got lots of ATMs" argument as the big banks will screw you with fees... Quote Link to comment Share on other sites More sharing options...
Matt Radlauer Posted June 7, 2012 Report Share Posted June 7, 2012 I have one fee for $8 for a service that I choose to use....Those are the only fee's WF charges me. Now..I dont have any credit cards or any other lines of credit with them. Just bank accounts. Believe me I totally understand the big business BS thats going on and how we are all getting screwed, and I'm certainly not trying to justify their practices, but my CU (still have) that I use for personal stuff could not accomodate my needs for a business account and were going to charge me way more than $8! Quote Link to comment Share on other sites More sharing options...
Toy Robot Posted June 7, 2012 Report Share Posted June 7, 2012 I have a few friends with military parents who bank with credit unions, but i was under the impression you need to be a part of whichever group oversees the union. Are their any that are good that would allow a lone wolf like me? e. In many cases you do not need to be part of any group. Sometimes simply having a family member who is active military is all that is required. Pentagon Federal Credit Union has that policy (or used to), and they are one of the best credit unions in the country. Quote Link to comment Share on other sites More sharing options...
Matt Mayer Posted June 7, 2012 Report Share Posted June 7, 2012 For my NYC business, I banked with Chase Manhattan. The amount of bank fees was quite extreme. It was convenient in the fact that there were branches everywhere and customer support was always great, including personal banking assistance, it was just expensive. I've never had as good online support and access to my accounts. I have a feeling that they are better suited to larger businesses though and may not be the best choice for small business. I use Chase here in Chicago as well. Have a basic account that is free with the use of a Chase Business credit card. Lots of branches across the US, good online support, although their Quicken download has been flaky for me lately. Quote Link to comment Share on other sites More sharing options...
Daniel McIntosh Posted June 7, 2012 Report Share Posted June 7, 2012 Local 52 members can join the Actors CU: http://actorsfcu.com/membership/who-can-join/ Many people who live in NYC are eligible to join The LES CU: https://lespeoples.org/about-us/how-do-i-join/ Quote Link to comment Share on other sites More sharing options...
Mark Orusa Posted June 8, 2012 Report Share Posted June 8, 2012 --Business entity is an S-Corp, if that matters They will probably just consider you a corporation, which is fine. --I'm based in Manhattan (having a brick-and-mortar location here is pretty important i'd think). I switched to Chase from BoA. In my neck of the woods Chase branches are everywhere. --Will be running quickbooks for invoicing/payroll, so one with online access that integrates well is a plus . I've used Quickbooks since 2005, but have never taken advantage of downloading statements in QB format. I know BoA does, surely Chase and others. I still prefer to do it manually. I can line-item sales tax and really break down purchases that (I think) save me on taxes down the road. --Mac/iPhone/iPad user (electronic services that work well with these platforms is essential). I've had the ability to check balances, transfer funds, deposit checks, etc via the iPhone app from Chase since 2010. I wouldn't hold my breath waiting for an app from other banks. The $12 monthly fee for a business account is waived if I make at least 5 debit purchases in a month, and I get a personal account entirely free. Mark Quote Link to comment Share on other sites More sharing options...
Wandering Ear Posted June 8, 2012 Report Share Posted June 8, 2012 My credit union has a great mobile app for ios and android. It's not just big banks. Although my specific CU doesn't have a ton of branches, I can walk into any credit union as if it was my bank. The branch I go to the most is actually a diffetent CU because it's close to my house. Looking at the network of CUs, at least here in Seattle, I have access to about as many branches as any of the major banks. Quote Link to comment Share on other sites More sharing options...
Jesse Flaitz Posted June 8, 2012 Report Share Posted June 8, 2012 Unfortunately I don't think there is a Credit Union in the city. I'm part of a HVFCU, a credit union upstate in the Hudson Valley area. I opened a Chase account for convenience, but I'll keep my CU accounts open for a long time. Quote Link to comment Share on other sites More sharing options...
José Posted June 8, 2012 Report Share Posted June 8, 2012 If you want to look into credit unions closeby. I have a credit union account in New Jersey called Affinity. And they kept private for years until last year where they decided to allow open admission to the public. Anyway, Here is their website: www.affinityfcu.org Quote Link to comment Share on other sites More sharing options...
Whit Norris Posted June 9, 2012 Report Share Posted June 9, 2012 Big fan a credit unions also. We are with USAA, they have the best customer service. I had to set up my company account with BB&T. Some credit unions do not handle business accounts. BB&T has been fine for me. Cheers, Whit Quote Link to comment Share on other sites More sharing options...
BrianW Posted June 9, 2012 Report Share Posted June 9, 2012 I've been happy with Chase for my business accounts. Been with them for about 6 years now. The people at my branch have always been helpful, and I've never felt like a "number" with them - of course, not sure if that's because of the management at the branch or because of corporate policy. I do like their on-line and mobile app for e-banking, especially because of the way it handles security. It looks not just at the username and password, but looks at the device I.D. as well. If it's a device that hasn't previously been used to log in, it requests an extra code, which has to be obtained via their system texting or calling a phone number which is already established, so pretty hard to hack I think. Someone would need to have your username, password, and possession of a device from which you had previously accessed your accounts. I was with a CU previously, and that had plenty of pro's but a few restrictions that were "con" enough for me to switch. The cons were probably inherent to that particular CU and not a reflection on CU's overall. Quote Link to comment Share on other sites More sharing options...
OmahaAudio Posted June 9, 2012 Report Share Posted June 9, 2012 http://www.theonion.com/articles/goldman-sachs-hires-single-morally-decent-human-be,28460/ Quote Link to comment Share on other sites More sharing options...
Simon Hayter Posted June 9, 2012 Report Share Posted June 9, 2012 http://www.theonion....human-be,28460/ Got to love 'The Onion' Ha! Quote Link to comment Share on other sites More sharing options...
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