How to choose a new bank for your business
Here’s an outline of my initial questions for choosing a new bank for my business. If you’re curious, I created this with MindMeister.
Find a new bank for my business
Research and Development (R&D) plays a crucial part in many companies. This mindmap can be used as a list of all R&D projects across departments, working groups,…
1.1 Find a bank for a small business
1.2 Want it to be free!
1.3 Want to do mobile deposits
2.1 Generic Bank Info Questions
2.1.1 Does it matter where the banks is located?
2.1.2 What are some Credit Unions?
2.1.3 What banks do I use now?
2.1.4 What are some local banks?
2.1.5 Does it matter what state I live in?
2.1.6 Does it matter where the business is incorporated?
2.1.7 Are there some major banks I could use?
2.1.8 Are there any online banks that would work?
2.2 What questions do I need to ask?
2.2.1 What are the fees?
188.8.131.52 Is there a fee to set up the account?
184.108.40.206 Is there a monthly service fee?
- List of banks with free business checking
220.127.116.11 Cash dollar amount deposits per month fee?
18.104.22.168 Check deposits per month fee?
22.214.171.124 The number of change order requests per month and charges?
126.96.36.199 Debit transactions per month fee?
188.8.131.52 Are there any other fees?
2.2.2 What is the opening balance requirement?
2.2.3 Is there a minimum amount of money that must be in the account?
184.108.40.206.1 What is the minimum?
220.127.116.11.2 Is there a penalty for going below the minimum amount?
2.2.4 Debit card available?
2.2.5 Do they offer credit cards?
18.104.22.168 What are the rates?
22.214.171.124 Is there a yearly fee for the card?
126.96.36.199 What would be the balance?
2.2.6 Do they provide business loans?
188.8.131.52.1 Do they offer SBA loans?
184.108.40.206.1.1 What are the rates?
220.127.116.11.2 Regular loans
18.104.22.168.2.1 What are the rates?
2.2.7 What Tools do they have to help me?
22.214.171.124 Can I do mobile deposits?
126.96.36.199 Automatic Download to QuickBooks?
2.2.8 What other services do they offer?
188.8.131.52 Do they offer merchant accounts?
184.108.40.206 Payroll Services?
220.127.116.11 Enhanced Security on Retail Services?
18.104.22.168 Treasury Services?
22.214.171.124 Online Tax Payments?
2.2.9 How long does it take to set it up?
2.3 What questions will they ask?
2.3.1 What paperwork do I need to set up the account?
126.96.36.199 Articles of Incorporation?
188.8.131.52 Fictitious name affidavit
184.108.40.206 Partnership agreement
220.127.116.11 Articles of organization
18.104.22.168 IRS Non-Profit Verification
22.214.171.124 Trade Name Registration (Georgia)
126.96.36.199 Bylaws, Charter, Board Meeting Minutes
188.8.131.52 License to Operate
2.3.2 How many deposits will I make each month?
2.3.3 How many checks will I write?