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Thread: Looking for a business bank

  1. #1
    Join Date
    May 2004
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    Waipahu
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    Default 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. #2
    Join Date
    Apr 2004
    Location
    Honolulu, HI, USA
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    7,326

    Default 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.

  3. #3
    Join Date
    Sep 2005
    Location
    Wah-key'-key
    Posts
    10,390

    Default 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!

  4. #4

    Default 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 !

  5. #5
    Join Date
    Jul 2005
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    3,928

    Default 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!

  6. #6
    Join Date
    Apr 2004
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    Honolulu, HI, USA
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    Default Re: Looking for a business bank

    Quote 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...

  7. #7
    Join Date
    Jul 2005
    Posts
    3,928

    Default 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.

  8. #8

    Default Re: Looking for a business bank

    Quote 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

  9. #9
    Join Date
    Dec 2005
    Location
    K-Town
    Posts
    2,497

    Default 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.

  10. #10
    Join Date
    May 2004
    Location
    Waipahu
    Posts
    3,534

    Default 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?

  11. #11
    Join Date
    Jun 2006
    Posts
    15

    Default 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 8th, 2020 at 10:45 PM.

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