22 ms·
Why am I no longer qualified to be a Brex customer?
- ltbarcly3 4y agoWhat is Brex?
- midislack 4y agoThis, never heard of it before I read this post.
- cdolan 4y agoHow long until Ramp pulls the plug in similar fashion?
- rbehera8000 4y agoHey guys, if you are being rejected from Brex, there is a new modern banking solution that is instantly approving Brex customers and helping them transition over their expenses. Check out: https://every.io/ https://every.io/
- reuven 4y agoI just (June 23rd) got e-mail from Brex indicating what their criteria are: We feel confident in delivering a best-in-class service to customers who meet any of the following criteria: Received an equity investment of any amount (accelerator, angel, VC or web3 token); More than $1 million a year in revenue; More than 50 employees; More than $500k in cash; Tech startups who are on a path to meeting the criteria above, and are referred by an existing customer or partner. I'm still rather shocked by how badly they handled this. Even if I weren't a one-person (and highly profitable) consulting business, I wouldn't want to stay with a firm that treats its customers so poorly. That said, the tone of this letter was far, far better than the previous one. And it gave some clear criteria for who is in, and who is not. So they handled this poorly, but they've at least made some effort to make things less bad.
- yawnxyz 4y agoSo... what alternatives are people moving to? I really liked the dynamic credit card generator, and Brex Travel was luxurious... Also, I'm curious what the new cut off is, and who their new customers are. Is the new downturn causing their "strategy change"?
- itake 4y agoWhen I was rejected by Brex, I moved to Mercury. So far so good.
- yawnxyz 4y agoWe've been using both Mercury and Brex for different purposes, but I guess we'll go Mercury full-time. I really hope Mercury doesn't pull the same stunt.
- sgk284 4y ago[disclaimer: I work at Brex, but am not speaking on behalf of the company] I think one thing being lost in translation here is that Brex considers small businesses to be different from startups, and it's an important distinction internally that is likely getting lost externally. For example, we just acquired Pry to help with founders at small startups figure out financial projections and needs. If you're an early stage funded startup, Brex is probably still a good fit. The policy cited here is more about no longer being a good fit for "traditional" small businesses.
- etaioinshrdlu 4y agoAny idea how many companies this applies to?
- bengotow 4y agoThat's unfortunate... I feel like every startup I know of just recently switched to Brex. I wonder how many are being kicked off the service.
- mizzao 4y agoWe're a startup on Brex. Not sure if we're about to get the boot. If you're going to service startups as Brex, 80-90% are going to just cost you money and then disappear when they fail. Not sure how they're going to turn a profit this way even if a small percentage get big.
- e-clinton 4y agoMercury is about to get a lot of new clients
- fire 4y agois there like a blog post or something that goes with this very short help article?
- 29athrowaway 4y agoIf I had to guess it's because of interest rates.
- pedrofranceschi 4y agoBrex founder here. We've made the difficult decision to no longer offer services to the small business market. Back in April we launched Empower, and we decided to put the full weight of Brex towards building the best global payments platform for tech startups and larger companies. With that, we realized we couldn't do a great job serving the small business community at the same time. This has been an incredibly difficult decision for me and the team, but we believe small businesses deserve a partner that is entirely focused on them. We know how changes in financial services can be disruptive – especially in a moment like now. We're doing all we can, and working with other financial service providers to make this transition as smooth as possible.
- danial 4y agoI was in the middle of transitioning my existing account to Brex. I have many things to do and so this lower on my priority list. I'm glad I was only in the beginning of the transition and that I hadn't moved over completely. While I wasted a few hours of my time, nothing near what I would have wasted if you had pulled this on me later. Good riddance. I dodged a bullet.
- duped 4y agoHow do you distinguish between a tech startup and small business? Not to doxx anyone but I'm familiar enough with the financials of several businesses that would call themselves either depending on the context, and the only meaningful distinction I can think of is venture funding
- draw_down 4y agoGrowth rate
- cvccvroomvroom 4y agoYeap. Small businesses will likely stay small because the key differences are in the founders' mindset. Both can start out at leveraged brokeitude.
- mtlynch 4y agoIf you're a small business / startup looking for an alternative for checking, I've had extremely positive experience as a customer of Mercury.[0] [0] https://mercury.com/ https://mercury.com/
- strongpigeon 4y agoSame. I don’t make much money (started by making ~10$/mo. Now averaging 500$/mo). I only deposited $1k in my account and never had much more than that in it to give you an idea of the scale. My experience has been really good though and the whole process has been really painless. I recommend them too.
- moneywoes 4y agoHow much in fees do you have to pay? In a similar boat
- strongpigeon 4y agoNothing. I only use ACHs and my debit card though, no wire transfers so I can’t comment on that. Everything has been free for me.
- MaxGabriel 4y agoWires are also free, in case you ever need them :) (CTO at Mercury)
- markdown 4y agoDo you know if they service LLC's with foreign owners (EIN but no SSN)?
- MaxGabriel 4y agoYes we do, this is a very common customer profile for us
- immad 4y agoCEO of Mercury here. If you are looking for an alternative, we are 100% committed to businesses of all sizes: A) the smallest businesses can be the next big startup B) We maintain strong unit economics at all sizes. We setup a landing page to get these customers onboarded quickly: https://mercury.com/partner/brex https://mercury.com/partner/brex
- sivers 4y agoI've founded many companies of many sizes, from 0 to 85 employees, over the last 25 years. I've used many business banks in many countries. (Wells, Citi, HSBC, ING, BoA, BNZ, OCBC, DBS, Wise, even private banks.) But I've never been so impressed and happy with my bank as I am with Mercury. Mercury continues to impress me, even though right now I'm a super-small-fry, their service, features, and attention are top-notch. I love them. I'm a Mercury fan.
- felipemnoa 4y agoI believe they are doing things right now that do not scale so that they can get reviews like yours. It is a strategy to create loyal customers at the beginning. I'm not sure but I think PG has talked about this strategy.
- immad 4y agoSupport is <5% of our revenue. If the product mostly does what it should then support costs shouldn’t be crazy. (Assuming that’s the part that you think is unscalable for us)
- aaaaaaaaata 4y ago> If the product mostly does what it should then support costs shouldn’t be crazy. One of the huge benefits of not hacking your product together as fast as humanly possible!
- _vvhw 4y agoWow, this is high praise coming from Derek Sivers. This should immediately be on Mercury's landing page. :)
- renewiltord 4y agoRamp works well for startups We used Mercury and it was very easy
- robertyun 4y agoI've used Airwallex for years - it's still the best in market. Super easy and affordable for international use cases.
- SadTrombone 4y ago> This decision cannot be either changed or delayed. Your account will be closed by August 15. We’ve appreciated your business and wish you all the best in the future. I get that corporations couldn't care less about us as people but the phrase "we appreciate your business" and its variations will forever rub me the wrong way.
- tedivm 4y ago"We appreciated your business so much we want you to get off of our platform and never come back." Seriously though "appreciate your business" is the "thoughts and prayers" of crappy customer service.
- bombcar 4y agoI mean it might be more honest to say “you’ve always been a cost center and we’ll be damn glad to see the end of you” but would it really make you feel better?
- KennyBlanken 4y agoWhat really rubs me the wrong was is the "it was a very tough decision" crap both on support page and the CEO's statement here.
- aaaaaaaaata 4y agoI actually believe that bit — but it does look bad.
- cge 4y agoWhile I don't know about this company or the situation, I'm genuinely curious as to the reasoning behind including statements like this. They seem to be purely detrimental. I certainly can't see how they would make anyone less upset about the situation, and can see how they would make people angrier. Wouldn't the page be less provocative without that last sentence? Do the people writing these genuinely see them as statements people will appreciate? Or is the motivation to burn bridges and ensure that customers they no longer want will be offended?
- csomar 4y agoSo customers have less than 2 months to find new banking partners, migrate their data, inform their partners about banking changes, etc... This is one reason why I'm avoiding all fintech/startup/neo banks in the future. My most solid experience was with a top 5 US bank. They have a shitty customer service and a plethora of offers; but my direct deposits go faster, I don't get pestered over 5 figures amount going in/out because AML and they were able to accommodate some particular needs (that no neo fintech will do, since they lump all customers into one basket). If anyone wants to bank in the future (both for personal/business), here are the banks I'd suggest: Citi, Chase, BoA and WellsFargo.
- mjthrowaway1 4y agoChase is superior to WF and BoA both in tech and wait times in branch. I’ve lived in a handful of cities and used them all concurrently for years. If you’re doing any kind of business you want to be at US Bank, Farmers & Merchants, East West Bank, etc. They are better about loan products.
- batuhanicoz 4y agoDoes any of those traditional banks support remotely opening accounts for U.S. companies with non-U.S. owners (so without an SSN, only with EIN)?
- formerkrogemp 4y agoYou'll want to open a business bank account with them if you have an EIN. You might need trust or estate services depending upon the nature of your financial service needs.
- bombcar 4y agoSome (or all) may have branches in your country. But they may not be free but they can probably get it setup.
- csomar 4y agoI had one remote experience but here is are the caveats: 1. Needed a valid US visa (a B1/B2 will do), 2. Needed a US phone number and 3. Needed a real US-address (not necessarily yours but not a PO box).
- United857 4y agoSo can we call this... Brexit?
- christoph 4y agoI came here to say this... maybe consider a rebrand/rename? I don't suggest that lightly, but their name has some serious negative (for some people) connotations (not for me... it's politics, which I frankly just don't care about, life is too short). I instantly assumed their business was tied to some political allegiance with EU/Brexit finance/payments, which alone made me almost not click into the article. I read the article and I'm confused why they are called "Brex". Odd choice. For a sizeable section of the market, they might as well name themselves NaZEE (not that I agree necessarily). Just being honest with how I see it. They really aren't doing themselves any favours with the current name.
- proxyon 4y ago
- christoph 4y agoYou must have missed the part where I said I really don't care about politics. I was just giving honest feedback. I'm sorry if I upset you.
- eins1234 4y agoI don't disagree that they could have started with a better name, but I think that ship has sailed years ago when they covered SF with the name on billboards, including one that literally says: > Don't charge it, Brex it. https://twitter.com/TrungTPhan/status/1262799209654177792 https://twitter.com/TrungTPhan/status/1262799209654177792
- gnfargbl 4y agoFor HN'ers outside the UK who might be put off by the Godwin above: People here really do have strong opinions about Brexit, one way or another. It has been a central part of the news for many years now, and it has increasingly real implications for this country's future. I (also) don't want to delve into the political arguments, but to give you an idea of what's at stake, a Brexit-induced restart of the Troubles in NI is now looking more likely than it has for decades. The point I'm trying to make here is that it's just not a topic that you can have a casual opinion on. Against that backdrop, using the term as a whimsical joke feels so profoundly distasteful that a lot of people here would probably ignore the business entirely.
- sam0x17 4y agoThis just happened to my LLC
- jdwyah 4y agoThey’re asking for full details of my cap table to stay on. I signed up last week and got the fancy credit card in the mail today. Wtf. Bad luck I didn’t pick Mercury in the coin flip between them.
- zugi 4y agoCan someone summarize what a "fintech" company like Brex or Mercury provides that a bank or credit union does not?
- curiousDog 4y agoGive away free money
- SilverBirch 4y agoWell, the theory is that you use technology to provide the same services that a traditional bank does, but you do it better because banks have notoriously shit systems. The practice is often that you use technology to provide a half-arsed subset of the services that a traditional bank does, but you don't have a risk department so when there's a downturn in the market it turns out you're providing services to all the people a traditional bank didn't want to deal with for good reason.
- throw03172019 4y agoIs this only for Brex Cash (bank account product) and not Brex (corporate credit cards)?
- afg112 4y agoas far as I'm aware, this only affected cash accounts. Users with the 30 day cards are safe
- NoblePublius 4y agoWhat does small business mean?
- formerkrogemp 4y agoIt's probable outcomes like this that make accountants and other professionals so hesitant to take a chance on neo banks and Fintech startups. Money is pretty important to a well functioning business. Being left in the lurch after developing processes for this sort of thing isn't a good look at all.
- rotpota 4y ago(Web3 startup founder here) Tried signing up for Brex and after a long and painful signup process they actually needed me to connect a different business bank account. What was even the point Brex. Needless to say we just opened a Mercury account.
- parkaboy 4y agoNot surprised by any of this. Feels like it comes from the top, culturally. I had a terrible experience "onboarding" with Brex last year. They actually "approved" my bootstrapped startup and sent me a physical card only to rescind it a shortly thereafter, because--even though we met the funding minimum--it wasn't "professionally invested" on further review. Bootstrapping apparently required a $1MM minimum. Here's what they told me: "While being professionally invested is not a requirement for the Brex card with monthly payments, without professional investment, the minimum cash balance requirement shown in connected accounts is $1mm. If you're able to provide proof of XXXXX's professional investment, the minimum cash balance requirement shown in connected accounts is $50k." Left a really bitter taste in my mouth. Won't ever use them. Currently banking with Mercury and love it BTW.
- cvccvroomvroom 4y agoYuck. Brex comes across as risky, mercurial, and snobby rather than useful, professional, and reliable. Does anyone else know about or use Silicon Valley Bank? How do they compare to Mercury?
- parkaboy 4y agoWe used SVB at my previous startup. Somewhat ironically, their UX is SUPER dated and a bit kludgy (been a year since I've checked, though) and their fees are high, BUT they're high touch and good to be in with strategically (especially when it comes to debt financing). I don't know if I'd suggest them early on when bootstrapped, but definitely worth a gander once larger or VC-backed. Mercury's UX is sexy AF and enjoyable to use. They did have an internal screw-up with our initial account setup due to a mix-up with their partner bank (Evolve Bank & Trust), but their customer support is top notch and got it resolved quickly. They also have some nice promotional deals. In comparison to SVB, though, they're not nearly as high touch and also don't have physical locations.
- djbusby 4y agoSVB site UX has been "dated" since at least 2014. Good service tho.
- reverseprefs 4y agoWhy Brex is no longer qualified to be our bank: We’ve put $millions through Brex cash/cards and will almost certainly leave after reading this. This doesn’t affect us (I think?) but that they’d do something like this in this way is a breach of trust that signals bigger problems down the line. What is “Empower” and why would I believe they won’t sunset the current Brex offering to push some upmarket sales nonsense on us as it that new thing becomes the focus? We had kind of outgrown Brex anyway, but this is sad to see. What really irks me here is that I know my first company, a bootstrapped e-commerce thing that was a healthy “small business” would have been axed by this, but the current one is big enough that they wouldn’t want to lose us. Just doesn’t sit right with me. I appreciate how tough this decision probably was, but I hope they properly modeled who else they’d lose via loss of faith, like us.
- mytailorisrich 4y agoIs it a bank, though? I don't know Brex but looking around their website they seem to be a fintech company but not a bank (they don't seem to have a licence)
- reverseprefs 4y agoBrex cash is functionally a bank account. Department-specific Brex cards are useful and it integrated well. Our “real” bank has such a clunky interface that we started using Brex cash because it was a little easier, and over time drifted more to that account.
- mytailorisrich 4y agoA bank is a licenced and highly regulated company. This is important, especially when things go wrong...
- throwaway290 4y agoThere is a world of regulatory difference between a prepaid plastic reseller and a proper bank, no matter how similar it might look on the surface.
- aruanavekar 4y agoI recall so many emails, calls, texts, LI messages in the past 2 years asking for signup. We were much smaller then, 2-3 FTs in US, and I kept telling them we are not your ideal customer/clientele, go mid size. The pitch was we were the exact clients(startups) needs they needed to solve credit issues and help grow! Completely can align with the thought that is things do not work, exit the space or pivot, but keep moving on to better strategies and execution. Do the needed.
- Animats 4y agoRemember Vimeo? They started as an alternative to Youtube, letting anybody upload. Then they decided to dump their small users and go for large ones. Vimeo is publicly held, so we can see how this worked out.[1] Price one year ago, at the peak, $49. Price today, $6.54. [1] https://www.msn.com/en-us/money/stockdetails/fi-c26vvh?ocid=ansMSNMoney11&duration=Max https://www.msn.com/en-us/money/stockdetails/fi-c26vvh?ocid=...
- rgbrenner 4y agoTheir revenue growth tells the opposite story: https://www.msn.com/en-us/money/stockdetails/financials/fi-c26vvh?ocid=ansMSNMoney11 https://www.msn.com/en-us/money/stockdetails/financials/fi-c...
- Animats 4y agoRevenue up, income down. That's usually trying to buy market share.
- rgbrenner 4y ago2019 2020 2021 -75m -50m -52m It's either flat or increasing. Where are you seeing declining income?
- Animats 4y ago"VIMEO, INC. revenues grew 38.30% in FY 2021 as compared to FY 2020 to 391.68M. Net income fell 4.22% to -52.77M."
- joshuaissac 4y ago> "VIMEO, INC. revenues grew 38.30% in FY 2021 as compared to FY 2020 to 391.68M. Net income fell 4.22% to -52.77M." That is basically what rgbrenner wrote: > 2019 2020 2021 -75m -50m -52m The difference between 2020 and 2021 is small, almost flat compared to the steep climb from 2019 to 2020.
- asaddhamani 4y ago2(!!) months to find a whole new bank for a startup or small business is a ridiculously small amount of time. I've never heard of Brex before this but this is really bad marketing for them. Don't put your faith and one of the most important aspects of your business in these "hip" fintech companies hands. They will not feel any shame pulling the rug out from under you.
- cvccvroomvroom 4y agoExactly. Banks are ultimately supposed to be so reliable and consistent that they are boringly-predictable. Inconsistency and surprises imply risk, attributes antithetical to what it means to be a financial service provider (unless we're talking crypto or NFTs). People who behave as mercurial dilettantes aren't interested in professionalism or creating a sustainable business, only dabbling in areas wantrepreneurs mess around at before carpetbagging off to somewhere else "more interesting" tomorrow. Sorry to tell them, but that's not professional business activity.
- deleted 4y ago[deleted]
- saagarjha 4y agoThe title of this page says “why” but there is exactly zero on this page which explains why. There’s half of one sentence that introduces what (“we are less suited to meet the needs of smaller customers”) but even that is dressed up to the max. This is a poster child in what everyone hates about corporate communication: entirely opaque, misleading word salad. Do better.
- mccorrinall 4y agoThe title says why with a question mark at the end.
- svnpenn 4y ago100% agreed
- thrtythreeforty 4y agoWith such a vague explanation, my cynical side kicks in and fills in, "You're too poor, bye." Maybe there's a better reason, but they don't even try to explain.
- systemvoltage 4y agoYou are though. There are lots of businesses (B2B) that won’t deal with you or put up with you. Ask anyone who has run a retail business and they’ll tell you how much pain in the ass B2C businesses are. You are poor(relatively) and not worth doing business with sometimes. That’s fine and absolutely ok.
- Piskvorrr 4y agoCynical? That's literally the gist of it.
- Veen 4y agoIt’s deliberate. The choices are 1) say something true that will make you look bad, 2) say something untrue that might bite you in the ass later, and 3) write ambiguous waffle that explains nothing and commits you to nothing. PR and legal will tell you to choose 3 every time.
- wsdan 4y agoThis isn’t the first time doing this - at the start of the pandemic they also closed the accounts of travel and hospitality businesses en masse. They tried to win us back once the vaccine was out and business was booming but we’d lost any trust in their reliability by then.
- Havoc 4y agoWell whatever cost savings they gained from this move just got lost in making hn front page with atrocious PR
- dougSF70 4y agoSIlicon Valley Bank is clunky but it is reliable. Coming from the UK and having lived in San Francisco for the past decade I was irritated to see a firm use borrowed interest (BREXIT) to build their brand. Especially when the implications of the referendum were never clearly spelled out to UK voters. As far as Brexit the company goes, it must be tough being a start-up credit card firm with no market understanding and no sense of what will be profitable strategies in the future. Cutting small customer accounts is a great way of managing their risk profile overnight...it is a clear announcement of impending deep recession, small businesses beware!
- smoussa 4y agoHey. Engineer at rebank (YC W19) here. You should definitely check us out https://www.rebanknow.com/ https://www.rebanknow.com/ if you're looking for an alternative. We cater specifically for small businesses and we're ready to help you switch over.
- tcarn 4y agoFunny enough you have Brex as a client!
- deleted 4y ago[deleted]
- arnaudsm 4y agoThat's a regrettable decision considering their reputation was made by small businesses.
- HoyaSaxa 4y agoI’d highly recommend actually using a real bank instead of a fintech for business banking. As others have mentioned some of the “go-to” options like SVB have terrible (digital) services. I’m biased but Grasshopper Bank has one of the best digital experiences, and is an actual FDIC insured bank. They are also much cheaper once you start needing services like Letters of Credits, etc.
- pnutjam 4y agoOr use a credit union. https://www.lmcu.org/ https://www.lmcu.org/ I've been using LMCU for a couple decades living away from any branches. I use the app for cashing checks and there are ATM's in their free network at all the Speedway gas stations and CVS's around me.
- NonNefarious 4y agoWhatever "Brex" is...
- rr888 4y agoSurely a better way is to start charging fees.
- reuven 4y agoI've been using Brex for a few years. I didn't ask for much beyond an Internet bank into which Stripe and clients could deposit income, and from which I could make payments. If they had said, "Below a certain balance, we'll need to charge you a fee," I likely would have paid it. The annoyance factor of switching banks, payment from my various vendors, etc., is not small. Instead, I got a completely out-of-the-blue e-mail telling me that I have about two months to switch banks, and that there's nothing to talk about. I'll echo those who wrote that if this was, as the CEO wrote, "an incredibly difficult decision for me and the team," it should have been given more thought than a "We're kicking you off -- good riddance" message. I'm disappointed as a customer. But I'm also disappointed as a person in the tech space, where such poor behavior toward your customers is considered acceptable. More transparency and empathy could have turned this from an infuriating PR mess to a frustrating-but-understandable pivot by a fintech startup.
- robertw4774 4y agoOnce they are left with the largest customers (endefinied as to how large that is) those customers may feel there are issues and leave.
- maz1b 4y agoYikes. Not a good look for Brex and definitely a big turn off for me to explore Brex in the future. I can understand (and empathize with to some extent) what the company is doing, but it seems boneheaded to handle it like this.
- rbehera8000 4y agoFor you SMB Brex customers that suddenly need to transition by Aug 15, check out this bank that is instantly approving accounts for Brex customers and helping them transition quickly: https://every.io/ https://every.io/
- doh 4y agoWe were one of the first Brex customers. Moved millions through them before deciding to move to another provider. They were always full of surprises, but not the good kind. While they since fixed many of the quirks and improved the overall service significantly, their priorities were always misaligned with the ones of their customers. The cherry on the top for me was when they purchased a restaurant in SF instead of fixing glaring bugs.
- jkovacrelay 4y agoIf anyone needs a new financial home, I work in product at Relay Financial. We're offering $150 to anyone switching over. happy to help jeremy [at] relayfi[dot] com
- jkovacrelay 4y agoIf anyone needs a new financial home, I work in product at Relay Financial. We're offering $150 to anyone switching over. https://join.relayfi.com/brex-offer https://join.relayfi.com/brex-offer or email me: jeremy [at] relayfi[dot] com
- pkelvin 4y agoInteresting to see how much choice there is here vs in Europe - i've been debating who we open an account with (e.g. Brex/Ramp) given we're with SVB in London and deal in financial services and payments. We're in the S22 batch and offer payment flexibility beyond corporate cards in the UK and now US - so if you want to spread out your large payments from 3 to 12 months and avoid default dead (or offer this to your customers so you get paid upfront) would love to chat. Meanwhile would love SVB vs Brex vs Ramp advice for my US banking!
- pkelvin 4y agoInteresting to see how much choice there is here vs in Europe - i've been debating who we open an account with (e.g. Brex/Ramp) given we're with SVB in London and deal in financial services flows. We're in the S22 batch and offer payment flexibility beyond corporate cards in the UK and now US - so if you want to spread out your large payments from 3 to 12 months and avoid default dead (or offer this to your customers so you get paid upfront) would love to chat. Meanwhile would love SVB vs Brex vs Ramp vs Mercury advice for my US banking!
- robk 4y agoWho are you? Profile is blank
- pkelvin 4y agoInteresting to see how much choice there is here vs in Europe - i've been debating who we open an account with (e.g. Brex/Ramp) given we're with SVB in London and deal in financial services flows. We offer payment flexibility beyond corporate cards in the UK and now US - so if you want to spread out your large payments from 3 to 12 months and avoid default dead (or offer this to your customers so you get paid upfront) would love to chat. Meanwhile would love SVB vs Brex vs Ramp vs Mercury advice for my US banking!
- diegosampaio22 4y agoThere are some good althernatives, such as https://www.novo.co/ https://www.novo.co/ if you are a US resident or https://globalfy.com/en/banking/ https://globalfy.com/en/banking/ if you don't have SSN, international founder.
- caogecym 4y agoMy small LLC is affected by this. Anyone know a good alternative? I'm exploring creating a legacy business plan bank account like Wells Fargo, looks like they waive the monthly fee with $500 min deposit, which is the smallest among the big name banks.