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Hi. What bank and checking account does iTulip recommend for a DBA company in the U.S.? Thanks.
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Re: What checking account does iTulip recommend for a business?
I just opened an account for my LLC last month. I actually gave considerable thought to the choice of bank and here are the criteria I finally ended up using ....
1. Small, even tiny, and privately held ... I wanted a bank that was free of all of the shenanigans that the huge banks are prey to. Instead, I wanted a bank where a real human being had his own skin in the game and thought through his risks. FDIC is the great equalizer for a company my size and I can only aspire to the greatness of having over 250k or even 100K in my checking account. But, stability in a bank is a good thing for small companies. Also, by the time I opened my account I had the strong impression that the bank knew everybody they had ever loaned money to. Period. Surprisingly Bankrate.com rated them five stars though I looked at that only out of curiosity, and after the fact.
2. Reputation in the community - when you write a check to merchant in a small town you actually invoke the trust not only in yourself but from the bank.
3 Rates and Internet Banking - they had to be free or almost so and have free internet banking. Interestingly enough, the one I chose accepts deposits in their night deposit only and does not pay the overhead to take them through the ATM network. Interestingly, Internet banking is the same 3rd party provider as Everbank, my personal bank.
Hope this helps
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