What's your favorite business banking account? I'm about to spin up another entity & bank account and feel like there should be a clear winner in terms of bank account selection.
The most important things I care about / pain points:
- I can do everything relating to my account remotely (most importantly, wiring money)
- Data exports are easy and provide all detailed data
- Adding/removing additional cards & managing user access is easy
Bonus points for: virtual employee cards, easier credit card approval and management, stellar UI & advanced reporting, automations (certain type of payment comes in, email employee X).
I've used the following:
-Frost (Texas based): No major issues but the online interface is a bit clunky. Great experience in branch. Had a real life dedicated person who actually knew me? (my bar for service is low). Was able to get a LOC through them without much hassle just based on the funds flow into accounts.
-Chase: Had to graduate into their commercial group in order to get their full functionality. Really awesome advanced features for management of multiple entities within a bigger corporate structure & intercompany complexities. Felt like this was the best overall experience I've had so far.
-Bank of America: Worst experience ever. Had to come in branch for many basic tasks. Had incredibly low limits on how much could be deposited mobile. Spent a few hours a month on the phone with them getting basic stuff resolved (adding or removing an employee from an account, sending a wire, etc). Terrible tech. Long wait times and lots of 'transfers' to get to someone who can solve basic tasks. Caution: Do never ever use.
I've been happy w the private bank team at Citizens. They absorbed the private bank team at First Repub at least here in west coast and having one relationship manager who manages biz and personal stuff in diff accts has been helpful