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What is the best bank to use for a new startup?
Should I set up a bank account with a regular bank i.e(chase) or are there banks that cater to startups specifically and what are the benefits vs a regular bank ?
- nibsfive 5y agoMercury
- arthurcolle 5y agoMercury is pretty good
- brudgers 5y agoWhat is the business's organizational type?
- ghostmatt 5y agoWe are a online marketplace
- the__alchemist 5y agoI went with Bank Novo, arbitrarily. It's fine.
- happyrock 5y agoMe too. Not especially feature-rich, but no complaints.
- giantg2 5y agoI use a Citizens small business account for my LLC. It works for me, but I don't know if it would scale well. I hadn't heard of Mercury before this thread. That looks pretty good.
- kureikain 5y agoThe benefits with a regular bank is I can reach the support easily. I can literally walk into a local office and had thing sorted out. You cannot do that easily with online only bank. Another is I know the bank isn't going anyway. Look at a few old post on hacker news about online-only bank that are being acquired and migrated to another bank. Also, a bank like Chase can give you upto $20,000 credit card for a new a start-up. I feel like they really setup to help you bootstrap.
- atsaloli 5y agoIt is not a bank but Brex (a YC company) caters to startups and has great rewards programs. May be worth a look. www.brex.com
- admissionsguy 5y agoAll I want from a “bank” is an account number, a card, and that they get out of my way. So I use Wise.