You had the best of intentions, but it's not working out. You've grown in different directions, you no longer want the same things, and sometimes you feel like you don't even exist. It's not your personal relationship that's in trouble -- it's your relationship with your business's bank. If you're frustrated with your business checking account, it might be time to take your business elsewhere.
Look for a Bank That Puts Customers First
The ideal bank treats your business like a part of the family and not just a checking account number.
Some of the best small business banks offer personalized, tailored services that make you feel like your business matters to everyone involved. If you have trouble getting your questions answered or your concerns addressed, you're probably with the wrong bank.
Open a business checking account at an institution that prioritizes customer satisfaction. When you visit your bank, the people with whom you interact should be willing to provide you with honest, trustworthy guidance, and the bank's personnel should put you in touch with decision makers and welcome you when you arrive to make a deposit, withdrawal, or other transaction.
Find a Bank That Charges Modest Fees Nerd Wallet points out that a company shouldn't have to pay a fee just to maintain a business checking account. Look for a bank that charges modest fees for simple services and offers ways to eliminate fees whenever possible. For example, your business checking account might involve a monthly fee, but the bank will waive it if you maintain a certain balance.
Reducing your banking costs can allow you to focus your funds on important matters within your business, such as upgrading technology or increasing wages for your valued employees. Don't let overblown fees at your bank drain money from your accounts.
Use a Bank That Offers the Services You Need
The best bank for your small business is one that can satisfy all of your banking needs.
You don't want to open a business checking account at one bank and take a loan from another and a line of credit from a third. It can get confusing when you have to deal with multiple institutions. To avoid this, work with a bank that offers all of the services you might need, such as fleet loans or business lines of credit.
Work With a Bank That Offers Sincere Assistance When you have a question about your business's financial dealings, you don't want to put your trust in anyone who might steer you down the wrong path. Look for a small business bank that employs experienced, knowledgeable finance professionals who can provide you with help and guidance as you navigate your business's future.
For example, you might need to decide between two investment vehicles or wonder whether you would benefit from a loan or line of credit. Top-notch banks will steer you toward the best solution for your business rather than the best one for the bank.
When you're frustrated with your business checking account, don't stick with that bank just because you're used to the status quo. Instead, find a new bank that offers superior business checking solutions.