O/Os, which banking establishment do you use for your business?

U.S. Bank has a free business checking. They will nickle and dime you with fees but it has still been worth it for me.

 

wells/fargo

 

I just use my local bank, I set up a second personal account and run the truck out of that, and its all free, to no little gotcha fees or anything, just pay for the checks.

 

Any bank will help you, Chase has commercial accounts and seeing you already are established there it would be easy for you to work with them.

 

When I was in business we started with Chase (actually Washington Mutual that got absorbed by Chase). They will do more than nickel and dime you, their fees are outrageous. In 2009 we switched to a credit union and we were astonished at the difference, hardly any fees at all and when we did get hit with fees they were much less than half what we were getting charged at Chase et al.

I tried staying with the credit union when I returned to trucking (as a company driver), but it is very difficult to find sister credit union locations or ATM's while on the road. i bit the bullet and started an account with Wells Fargo.

When I work up to becoming an owner operator I'll look closely at banking options, but I'll likely stick with a credit union.

One question I have is in regard to setting up a Comdata account as a company owner. How does that work? You link a bank account and make transfers as needed?

 

Your personal bank should be fine what you want to check is the minimum balance before they charge you a fee. I use my personal bank I just opened a business account.

 

I have used Bank of America for one of my companies and BBT for the other one. I have grown to like BBT over BOA just for the simple fact that I feel more comfortable talking to BBT on a more personal level and not like I am just another biz. A lot of guys/gals out here like to use their local bank because of the relationships you form with them and that is what I like, only down side to that is it may not be a nationally located bank. All and all, just read the fine print and look for the hidden fees.

 

that's who I use and the only fee's I pay are ATM (non us bank atm)

 

I used Wells Fargo for years and then after the big banking blitz in '07/'08 they were a pain to deal with. Now I am with my local Credit Union and it has been great.