Business Banking Account

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Topic Author
LegacyWealth2013
Posts: 18
Joined: Sun Nov 24, 2019 6:02 pm

Business Banking Account

Post by LegacyWealth2013 »

For other small business owner Bogleheads, I am looking for recommendations to open a new business banking account. Preferably easy mobile deposits, ach electronic payments to subcontractors, automatic transaction feed to Quickbooks, minimal or waived monthly fees. We keep a balance of 3 months’ business expenses in the account (~$40k). Thank you for any guidance. If it helps, I am located in DC.
GoldPressedLatinum
Posts: 57
Joined: Sat Aug 18, 2018 9:09 pm

Re: Business Banking Account

Post by GoldPressedLatinum »

If you're interested in earning a sign up bonus for the business account, check out recommendations at https://www.doctorofcredit.com/best-ban ... t-bonuses/.
TIAX
Posts: 1388
Joined: Sat Jan 11, 2014 12:19 pm

Re: Business Banking Account

Post by TIAX »

If you don't need to deposit cash, check out Azlo.
BSBHead
Posts: 45
Joined: Sun Nov 11, 2018 12:45 pm

Re: Business Banking Account

Post by BSBHead »

If you think you’ll ever need a loan, I think a big bank or regional bank. At a minimum, go to a bank that is a certified SBA lender in case a loan needed. Existing relationships have received preferred treatment through the PPP, so take that example into consideration.
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Tamarind
Posts: 2345
Joined: Mon Nov 02, 2015 2:38 pm

Re: Business Banking Account

Post by Tamarind »

Another vote for Azlo. Incredibly easy, no fees.
Topic Author
LegacyWealth2013
Posts: 18
Joined: Sun Nov 24, 2019 6:02 pm

Re: Business Banking Account

Post by LegacyWealth2013 »

Thank you for the recommendations. We have our current account with a local bank that is an SBA lender. That relationship has come in handy as we received notice of our PPP loan approval this morning.

I will look into Azlo, I never heard of it before.
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