If I may ask...where do you bank?

I would like to get some feedback on where you hold your business account. I am curious to what bank you use and why you chose that institution.

I am in the process of looking for a place that will not eat up my money with fees - since I've been there/done that.

I appreciate your responses!

I use a local bank. They have totally free business and personal checking accounts. I also use ING Direct for a savings account, they have a high interest rate and there are no fees or minimum balances.

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Rebecka Melson ~ Virtual Business Services

Thank you, Rebecka. I appreciate it!

I also bank locally (FirstBank, NA in Boulder, CO). They also have free checking and are very solid (a good thing right now!).

I also have credit cards w/Citi and Advanta. I am getting ready to close my Advanta card 'cuz they just raised my interest rate from 7.99% fixed to 30.99% variable for no reason! I make my payments on time and have never even come close to the credit limit. My citi card is 14.99 fixed so I will be keeping them...

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Lily Chambers, The Virtual Office Goddess, LLC
Author "How to Do Your Own Small Business Bookkeeping"

I too bank locally. My bank is a hop, skip and a jump from my post office where my PO Box is located. It makes life very convenient. I went with a small local branch due to the free business checking. Their online access can be improved, but it shows me the information I need to do my accounting.

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Darlene Victoria Gonzalez
The Voice & Vision Behind Your Business

Ack, I bank with Washington Mutual which is one of the major ones in trouble. I don't think it will adversely affect me since they did just get bought up by Chase, but I'm certainly going to keep my eye on it. I also have a personal account through a local credit union, so I can always move everything there if I need to. It's just not as convenient.

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Kimberly
Facebook Marketing Magic!

I bank with ING Direct and then linked that with a separate checking account locally that I use for personal monies. If I had opened a separate account for business at my bank, there were balances I had to keep without incurring fees. I linked the ING Direct with my Paypal account. My thought was to keep business monies in the ING Direct and withdraw to my personal account when I needed to do so. Further, I plan to pay taxes from the ING Direct account so that meant I had to keep X amount in there before passing any other monies onto my personal account.

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Originally Posted by pdxblueskie

Ack, I bank with Washington Mutual which is one of the major ones in trouble. I don't think it will adversely affect me since they did just get bought up by Chase, but I'm certainly going to keep my eye on it. I also have a personal account through a local credit union, so I can always move everything there if I need to. It's just not as convenient.

I bank with WaMu, too. I think I've got the worst luck with banks. I used to bank with NetBank, and then they failed. That's when I shopped around to find a bank that offered accounts that would work for me, and found WaMu. Hopefully Chase taking them over will be smooth!

I bank personally and for business with Wells Fargo. We also carry a mortgage with them. This is great for me because all accouts are available on one screen in my online access. I did run into a problem once where I did not know I had overdrawn my account and they charged me $2 PER DAY for that but I NEVER do that so I wasn't too concerned.

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Administrative Support Group
Jenifer D

I have all my accounts at WaMu. I do have one savings account at HSBC Online because they have a great interest rate. The customer service at my WaMu is amazing. As long as my local bank reps don't leave I have no problem with Chase taking over.

FYI...the banking (checking/savings accounts) portion of WaMu wasn't having trouble...it was their loan departments that had trouble.

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Lanel Taylor, CVA ~ Virtual Bookkeeper
Taylored Office Solutions
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