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?
22.214.171.124 Is there a fee to set up the account?
126.96.36.199 Is there a monthly service fee?
- List of banks with free business checking
188.8.131.52 Cash dollar amount deposits per month fee?
184.108.40.206 Check deposits per month fee?
220.127.116.11 The number of change order requests per month and charges?
18.104.22.168 Debit transactions per month fee?
22.214.171.124 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?
126.96.36.199.1 What is the minimum?
188.8.131.52.2 Is there a penalty for going below the minimum amount?
2.2.4 Debit card available?
2.2.5 Do they offer credit cards?
184.108.40.206 What are the rates?
220.127.116.11 Is there a yearly fee for the card?
18.104.22.168 What would be the balance?
2.2.6 Do they provide business loans?
22.214.171.124.1 Do they offer SBA loans?
126.96.36.199.1.1 What are the rates?
188.8.131.52.2 Regular loans
184.108.40.206.2.1 What are the rates?
2.2.7 What Tools do they have to help me?
220.127.116.11 Can I do mobile deposits?
18.104.22.168 Automatic Download to QuickBooks?
2.2.8 What other services do they offer?
22.214.171.124 Do they offer merchant accounts?
126.96.36.199 Payroll Services?
188.8.131.52 Enhanced Security on Retail Services?
184.108.40.206 Treasury Services?
220.127.116.11 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?
18.104.22.168 Articles of Incorporation?
22.214.171.124 Fictitious name affidavit
126.96.36.199 Partnership agreement
188.8.131.52 Articles of organization
184.108.40.206 IRS Non-Profit Verification
220.127.116.11 Trade Name Registration (Georgia)
18.104.22.168 Bylaws, Charter, Board Meeting Minutes
22.214.171.124 License to Operate
2.3.2 How many deposits will I make each month?
2.3.3 How many checks will I write?