Business Checking Account Recommendation

by a searcher from Pennsylvania State University

2 years ago

Does anyone have a bank they have really liked working with to transition to operating the acquired company? I close in about a month and will be relocating to complete the deal. I am having a harder time setting up an account than I expected. Local banks want me to come in to meet in person and I have been rejected by 2 online banks with no reason given. Company is located in western PA and transactions are >500/month so the very low transaction accounts will not work.

1 like
159 views
12 comments

professional from The University of Texas at Austin - Red McCombs School of Business

Chase is easy to work with. Think you need a min $3k balance for free checking.

4 months ago | like reply | 0 likes

searcher from University of Pennsylvania - Philadelphia

Just wanted to mention that Mercury seems to be a popular choice, however, it is definitely oriented more toward start-ups. They don't have any ability to offer check writing. They don't offer a credit card, and while they do have a "cash-backed" card, there are rules to get the card and they are not explicitly stated. Regardless of the above, I did try them and also found there was an issue with Quickbooks Online not being integrated well (a lot of missing transactions). Otherwise, it is a valid "Tech Company" (quoting their preferred description), offering cheaper alternative to traditional banks.

11 months ago | like reply | 0 likes

More on Searchfunder

Just Closed on My First Deal! Reflections and Takeaways for other Searchers

45,152 transactions are available on Searchfunder (now searchable by keyword)

Now everyone has unlimited IBISWorld access

Family office looking for traditional searchers

Examples of self-funded searcher websites

Investor seeking Self-Funded Search Deals

What are market terms for Seller Notes?

2 Best Ways To Find Motivated Sellers, Off-Market Deals

Searchfunder is an online community and toolkit for searchfunds. Over 80% of those involved in searchfunds maintain a Searchfunder.com account to help them network, problem solve challenges, and keep up with the industry.

We maintain partnerships with database providers that make searching more effective, efficient and affordable along with features that help searchers find deals and investors and vice versa.