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  • Looking for a business bank

    I currently have an account with HawaiiUSA FCU, and I was wondering if I should stick with them, or go with a new bank (like everything else I'm doing for this business). I want to keep my personal finance and business finance seperate, bumbai they go broke.

    Can anyone offer any suggestions?
    How'd I get so white and nerdy?

  • #2
    Re: Looking for a business bank

    In addition to recommendations on the basis of customer service, be sure to shop around for specific business-focused services. Both offline and online. FCUs are decent options for personal accounts, but you'll probably want a bank with more specialized services to run your business. Not that you'll be doing payroll via ACH and float tracking and wire transfers today, but... you never know!

    And remember, one "business bank" may be better suited for a larger business, and another better suited for sole proprietorships like yours (after all, even a "small business" is pretty big by comparison!).

    When I shopped around a few years ago, American Savings Bank looked the best, insofar as minimum balances, service fees, and business-focused features.

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    • #3
      Re: Looking for a business bank

      I'm happy with CPB, altho' I originally signed on with City Bank. I have free small business checking and don't need any of the other services. I do, however, use their check card. Love it! I can't remember if that's free or if there's an annual $15. fee. Regardless, it's worth it to me. I can check the status of my account online for free but their bill pay service is $5.95/month. I don't really need it. I ordered my checks thru Costco because the checks the bank offers are pricey.

      Adrian, if you open a checking account under your business name you'll need to provide the bank appropriate documentation of that name and, iirc, a GET number. It's been awhile since I've opened an account so don't take my word for it!

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      • #4
        Re: Looking for a business bank

        hey, hows the pc repair thing going? i was in your shoes 4 years ago. i still think you charge way to small a fee.
        stick with HUSAFCU, everywhere else charges a fee for writing checks, higher minimum balances, and all kinds of ala carte things that HUSA doesnt.
        Aquaponics in Paradise !

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        • #5
          Re: Looking for a business bank

          I ordered my checks thru Costco
          That's funny that you can order checks through costco... but they won't take em at the checkstand!

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          • #6
            Re: Looking for a business bank

            Originally posted by manoasurfer123
            That's funny that you can order checks through costco... but they won't take em at the checkstand!
            What? I pay almost exclusively with checks at Costco. Maybe they won't take your checks...

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            • #7
              Re: Looking for a business bank

              I thought they didn't take checks, debit cards, or credit cards...guess it goes to show how often I shop there!

              My bad... It's been so long since I wroten a check to a store since they came out with Debit Cards, I figured since they didn't allow credit cards the one time I was going to buy tires there, that they wouldn't take a check either... I guess I'm wrong.

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              • #8
                Re: Looking for a business bank

                Originally posted by pzarquon
                What? I pay almost exclusively with checks at Costco. Maybe they won't take your checks...
                When I am on Maui and I shop at Costco, I can even use my mainland checks to pay for stuff. All I have to do is write a local Hawai'i phone number on the front of the check.

                Miulang
                "Americans believe in three freedoms. Freedom of speech; freedom of religion; and the freedom to deny the other two to folks they don`t like.” --Mark Twain

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                • #9
                  Re: Looking for a business bank

                  Gotta agree with Central Pacific Bank

                  They got a slick credit card payment system by telephone that makes billing and getting paid a snap.

                  Never a long line in the bank either.
                  FutureNewsNetwork.com
                  Energy answers are already here.

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                  • #10
                    Re: Looking for a business bank

                    I've narrowed my choices down to either Bank of Hawaii, or Central Pacific Bank. Right now, I'm just testing their electronic communication, but there's one CPB employee on the boards, so that won't of course sway the decision.
                    How'd I get so white and nerdy?

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                    • #11
                      Re: Looking for a business bank

                      Perhaps this is due to problems with the documentation. I also had them and I solved them using the site https://www.esigngenie.com/industries/legal/ and I can say that these guys are worth it
                      Last edited by joeanybody; July 8, 2020, 10:45 PM.

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