Below are some Banks that we work with:
When interviewing a banker, you should ask the following questions to help determine if the relationship is a good fit:
What services do you offer and what fees do you charge? Most banks offer a number of services. It is helpful for you to know all of the services offered before hand so that when you need one of the services, you know who to turn to. Banks also offer different types of accounts that, depending on your balances, may allow the banks to waive the fees for many services. You should ask for help identifying which types of accounts are most suitable for your level of business. After your accounts are set up, you should have your banker review them every 6-12 months to make sure that your usage is still consistent with your account type.
What type of customer do you look to service? There are many different types of banks. There are large national banks, small community banks, business banks, consumer banks, credit unions and banks that specialize in certain industries. You should know what type of bank you are working with to make sure that it is consistent with your business. If you are at the wrong bank, you will not fully benefit from the services offer.
What is your policy for check holds and NSF checks? When opening an account, most banks have a check hold policy that ranges from 1 to 9 business days. You need to know when your funds are available to avoid bouncing checks. If you do bounce a check, you should find out what options you have to cover the check before it is returned unpaid. Some banks will call you to bring in additional funds or will automatically transfer from other accounts or lines of credit. Having multiple bounced checks can result in the closure of your account.
What are your hours of operation and branch locations? Bankers’ hours vary from bank to bank and can have different hours for the lobby and the drive through. Banks with multiple branches can have different hours for different branches. Make sure that you can conduct your business during the posted hours. When possible, you should time your transactions so that you can conduct them inside the bank. The more face to face contact your have with your banker, the better your relationship will be.
What loan products do you have and what is the approval process? Banks offer many types of loans. Some banks approve loans locally and others have regional loan officers. When you open your account, you should find out what the bank requires. You should try to set up lines of credit as soon as possible, even if they are small and then periodically request increases. Banks loan based on financial strength. If you wait until you need a line of credit, you may find it more difficult to establish.
What options does the bank offer to monitor multiple accounts? As your business grows, you will probably set up multiple bank accounts. Many banks have ways to help monitor those accounts either through online banking or consolidated statements.
You may have additional questions based on your specific needs. We recommend interviewing several banks to find one that will best serve your needs.
