Comments on: Best on-line account for a startup?

Question: Best on-line account for a startup?

Anonymous — Tue, 18 Mar 2008 02:17:59 -0800

Startupfilter: best on-line account for a small US business?

Looking for recommendations for an online bank for a small US (CA) corporation. Cutting to the chase, is the ING/Orange business account a good idea?

Background:

I recently started a small consultancy / software business (S-Corp incorporated in California). We're small and don't have much in the way of cash coming in or going out, we just need a place to put money when we invest it into the company or eventually receive funds from customers, and a place to take money from when we pay contractors (and eventually pay ourselves).

Key features I'm looking for:

- web accessible (duh). I want to do everything online.
- no annoying fees
- competency
- compatiblity with Quickbooks Pro

Tips from the hive mind appreciated, whether about ING/Orange or other web accessible small-business-friendly banks.

I've reviewed these previous AskMeFIs - looking for updated suggestions and web-only bank tips.

By: NotMyselfRightNow

NotMyselfRightNow — Tue, 18 Mar 2008 06:58:01 -0800

I don't have an answer for you, but I do have something for you to consider. As much as I love my ING account, there is a lag of a few days for money transfers to other accounts. That is the very last thing you want if you're running a small business, when ease and speed of money transfer can really, really matter. You might find that a more traditional bank (BoA-type) is the right place for your operating funds, and an ING account is best for holding money you want to get high interest on, but know you won't need within the next week.

By: foodgeek

foodgeek — Tue, 18 Mar 2008 08:28:06 -0800

Look for a bank that will give you a remote deposit scanner, mailing checks is a hassle and it delays the money showing up in your account. You'll get a small USB device about the size of a tissue box that you stuff checks in and it scans and uploads the image to your bank, the money is in your account the next day.

By: Bank4U

Bank4U — Wed, 23 Jul 2008 08:44:07 -0800

ING works great for transaction banking but most small businesses prefer relationship banking, which is what you find at a small local community bank. Where you can go in and talk to bank officers and management (ie bank president, chief lending officer etc.) Best of luck to you!