5 ms·
I’m of the opinion most startups are best served by either their local bank or credit union (where they can go talk to someone - but usually have antiquated tec
by cascom 5y ago
I’m of the opinion most startups are best served by either their local bank or credit union (where they can go talk to someone - but usually have antiquated tech
) or just the basic business checking from a large money center bank (BofA, Chase, etc) don’t overthink it unless there is some API/Technology stack you need to use.
- rexreed 5y agoYes, although our experience in going through the painful PPP process with one bank caused our firm to switch to another bank. When sudden changes like the PPP loan process happen you can tell which banks are prepared and which aren't. On that note, I recommend Chase and can't recommend our local bank. The CUs also weren't well equipped to deal with the PPP loan. Certainly you don't need to bank at Silicon Valley Bank or whatever is favorite of VCs or investors these days. The article talks about SVB Go, but it's basically your run of the mill mobile banking app (which doesn't get good reviews on Android, btw). Chase's mobile app has been high quality for a long while. I don't see the reason to go with any of the banks mentioned in this article.
- macdaknife 5y agoSVB Go is a shit app, with a shit product manager, and the whole process of them forcing users onto is was shit. Shit = bad.
- rexreed 5y agoOther than the laxative industry I can't imagine a situation where shit is good. That being said it's a crying shame that a bank in the middle of the tech ecosystem with the very name of the tech ecosystem as their whole branding can't make tech work. Maybe it's just a mirror of the whole industry - lots of smoke and mirrors and not much real substance.