Avoid Bank Failures - How to Pick a Bank for Your Business | SVB | FDIC

[@ElizabethPW]

Here's a link to the online bank that can help people located overseas: mercury.com/

[@Nigjutsu]

Wonderful information you have given me, your clarity in explaining things is much appreciated! What about American Express? I see many offers for business accounts with them as well as Chase. I feel like they could be great opportunities as well.

[@ElizabethPW]

Yes I agree that AmEx is also a great solution -- I use them for credit cards and savings. They are great for credit cards especially because they tend to favor the card holder in any disputes. I agree that AmEx and Chase are good options to research, especially if you have a personal banking relationship with them already.

[@jacquilineg3122]

Please advise about the business credit card. Thank you Elizabeth

[@ElizabethPW]

I generally recommend having an AmEx card and also one other MC/Visa card for the places that don't take AmEx (shop around for who is offering good rates, and also check out the bank where you are currently banking)

[@enekneya7378]

Great information and explained well!! Is it normal that with Business Accounts that you agree to acknowledgement of Statutory Lien language?

[@enekneya7378]

Also, what is your thought on PNC Bank?

[@ElizabethPW]

Hm I don't know, does it have to do with a loan or credit line?

[@ElizabethPW]

One aspect of PNC Bank is they are closing many (most?) of their branches to focus on mobile/online banking. So if you want an in-person bank, they may not work out

[@enekneya7378]

@@ElizabethPW That is one of the boxes you have to check to open an account with NFCU

[@dross0123]

What should one do with a deposit that was required for account opening if that deposit came from personal checking?

[@ElizabethPW]

The initial deposit from the owner's funds into an LLC/Corp checking account would usually be tracked as their "capital contribution" (like buying the stock or membership shares of the business)

[@RickFarris]

What about the American Express Business Checking Account?

[@ElizabethPW]

I have not personally used their check account but I do like their merchant accounts and credit cards, so it is something to try

[@vv-je5ny]

Bank of the west has only 1 person in each branch in the bay area with no experience on llc and holding structures to open business accounts

[@ElizabethPW]

Ah thanks for sharing your experience, yes it seems like all the banks are severely reducing their in-person staff

[@gavinyip5235]

A non-resident has already registered a corporation in CA, can he open a bank account while he is out of country, he can't go to bank branch in person.Thank you.

[@ElizabethPW]

Check out www.mercury.com/

[@vv-je5ny]

Credit union most due a hard credit check to open bus account

[@ElizabethPW]

Strange that they do a hard credit check on a business account!