Do you guys with biz bank accounts have good experiences/recommendations for a bank/credit union to use or NOT use?

Looking to change banking for a few of my business accounts and looking through stuff is just overwhelming

Not interested in the big banks. Would really rather aim towards a local state bank or credit union as there will also be a need for credit cards as I know some offer great rebates (Like TDECU offering a discount on BucEes gas, but would rather rebates than on the spot discounts)

Appreciate any input!

I’ve been happy with Frost Bank and Randolph-Brooks FCU over the last 30+ years.

yelp, as soon as I got a Randolph brooks in our area I moved side business and kids to it. I use Frost for everything else and some investment portfolios

Have a buddy that worked high level for Western National Bank, then they merged with Frost. He left for a very unique opportunity but he only banks with Frost, and speaks very highly of them.

I have heard good things about Frost as well and several folks I know use them.

Where’s your business located?

Why do you use smaller instead of big boy like JP Morgan or BOA?

What is the benefit of a smaller bank for business?

We have business accounts with 4 banks.

Chase
Inwood
Wells Fargo
Prosperity

That is the order that I like them in.

We moved to a locally owned bank. One thing to watch out for on a new account is fund holds, might want to check with them and see how soon your funds will be available to you. We had to keep the old account open to pay bills, payroll and IRS until the hold was lifted.

I know my brother in law moved all his accounts to Truist, they have branches in your area.

I cant stand BofA wealth management and bank practices. They are liberal hell.

The level of service with Frost is about as high as I’ve seen. No issues calling and transferring/wiring money. Everything is a painless process. Frost is a very sound bank also.

I’ve been personal friends with a VP at our Frost branch before Frost bought our local bank back in the 90’s. Longevity of employees says something about a business.

Greatly appreciate the insight guys! My folks have used Frost personally for decades and have always enjoyed them. Digging into biz account benefits, RBFCU seems to have some great offerings for their small biz accounts (i.e. rebates on their debit card purchases when used as a credit transaction). I’m a points [censored] with as much as I spend on traveling expenses, those rebates/points add up pretty quick for me




Because I refuse to give anybody my money who thinks the government should take over all private assets “in the name of climate change”

We use First Texoma National Bank, no real perks but they’ve been great to us. I called almost every bank around us and in southern OK for our CBD business and this one was one of the only banks that would allow “cannabis business” accounts. I was actually surprised none of the OK banks would allow it since it’s legal up there and had been for a few years before we started our business.

Most of the banks heavily depending on federal backing won’t do Mary Jane related activities since it’s still a no-no federally. At least that’s what the pot shops in Vegas told me last year and why they can only take debit/cash. I know CBD is obviously different, but the feds don’t know any better

Hell, having a cigar company was a MASSIVE pain to get payments the first year or so, all my accounts kept getting locked up/out, from bank to PayPal etc. because every single time anything loosely related to the word cigar or tobacco hit, they would email me saying it’s illegal activity due to products originating in Cuba. F’ng idiots. $12B legal domestic market. And then the feds/FDA wants to go after premium hand rolled cigars because they think that will help the fight against 14 year olds vaping. Not even joking, it’s been a years long debate everyone in the boutique cigar brand world has been involved with to some degree or another…but that’s a whole other story that is gonna make me start wanting to drink lol

Yea it’s amazing how oblivious they are, hemp has been federally legal since the 2018 hemp and farm bill passed. I guess none of the agency talk to one another. I can see the cannabis problem with banks being federally backed but hemp is 50 state legal and has been for 5 years.

I find myself shocked here. My mom wrote me a check from her BOA account and they wouldn't let me cash it at the bank. They then figured out I owned a business and suggested they have good business banking there. No way in heck.

Quit dealing with JPMorgan when my banker called Houston to see if he could get a better rate for me. He was trying to help but had no autonomy or should've utilized more discretion.

Eat lunch with your banker. Take him/her to your club or attend lunch at theirs. Let him see how you operate outside of the business world and watch him every step of the way during your visit. The banker should be to your benefit, always remember that. Access to money is sometimes necessary.

RBFCU golden on personal, not so much on business or farm & ranch. We utilize Prosperity for business, but it is solely based on the banker who was there before Prosperity bought them out.

More flexibility on terms and rates. Quicker and easier to deal with.

I bank with 4 different banks...the smaller ones treat me the best by far. I use BOA for personal mainly because there is a branch about 1/2 mile from my house, and they have treated me good as well. The worst of the 4 is Independent Financial...the only reason I stay with them is because it would be an enormous hassle to switch.

I have 4 as well, but I rarely ever step foot in any of them. I have never been to my Charles Scwhabb or Captial One Bank the accounts were set up online. I think I went to Chase years ago to set up and account, and my BOA I have had since they took over NCNB like in the 80's.

I just don't ever go to the a physical bank

What do you go to a bank for?

What do you do if your in another country and need to go to your bank for a reason, I can go to a BOA in Manila, Singapore, Tokoyo etc.. They have locations all over the world.

Me I don't pay much attention to what banks do, I want them to keep my money and give it to me when I need it.

Just get a personal banker at BOA they will take care of you, if they offer then at your branch. No need to take anyone out to dinner.

I have never had an issue getting access to my money at any bank. I have a few companies send me checks via email. I just print them off on my printer and cut them out, never had an issue with BOA. Thankfully I only go to BOA a few times per year, I rarely step foot inside any banks, maybe to get something notarized or cash a check made out to me.

But if you don’t ever go into a bank in this country, why would you need one in another!? 🤣

Honestly my travel credit cards give me enough coverage and safety net for the few times per year we leave the country

Depositing large checks, sending wires, depositing or withdrawing cash.

I don't go often, but I'd say on average 1-2 times per month.

Holy cow! The one-upper force is strong on this one. (Can we have another picture of that Rolex? )

As a small businessman I used the smaller banks. They got to know me and I could call them for services like transfer between accounts.

Once, I decided to buy a 4wheeler and wanted to write a check and take it with me. I gave the business card of the Bank President to the dealer. He called the bank and they verified my financial ability over the phone. I loaded the 4 wheeler onto my pickup and took it with me.

Those types of relationships don’t happen at the bigger banks or their branches.