I'm ready to open a new Business Checking account (for my new LLC, can't just use a second personal checking account - banks don't allow LLC names for those) and I've been comparing between banks. Almost all charge more fees and have higher minimum deposits/balances than personal checking accounts.
There are lots of variations in benefits and the fine print between banks, so it's much harder for me to compare than it was for me when I shopped around for a personal checking account.
I've tried searching google and the forum high and dry on this, and came up virtually empty. I did see one short thread here on this, which recommended the TD bank - which sounded great. But TD is not available where I live, unfortunately.
Here are some options I am considering:
1. BofI Federal Bank
2. Everbank
3. Citibank
4. CapitalOne 360
I'm leaning towards BofI Federal Bank, but I don't know how safe or sound they are. Everbank is probably safer, but requires a $1,500 initial deposit whereas BofI is only $1,000. The other two big boys Citi and Cap One require minimum balances, under which monthly fees will be charged.
For personal checking, I have Schwab. No minimums and no fees. Maybe I'm spoiled with Schwab (they don't offer business checking) and should expect to cough up a monthly maintenance fee for a business checking account? At least until I earn enough money to keep the balance above a certain minimum?
I know credit unions offer better deals, but they are location restrictive and not ideal for online banking as a prospective expat/mobile freelancer.
Any advice would be great.
There are lots of variations in benefits and the fine print between banks, so it's much harder for me to compare than it was for me when I shopped around for a personal checking account.
I've tried searching google and the forum high and dry on this, and came up virtually empty. I did see one short thread here on this, which recommended the TD bank - which sounded great. But TD is not available where I live, unfortunately.
Here are some options I am considering:
1. BofI Federal Bank
2. Everbank
3. Citibank
4. CapitalOne 360
I'm leaning towards BofI Federal Bank, but I don't know how safe or sound they are. Everbank is probably safer, but requires a $1,500 initial deposit whereas BofI is only $1,000. The other two big boys Citi and Cap One require minimum balances, under which monthly fees will be charged.
For personal checking, I have Schwab. No minimums and no fees. Maybe I'm spoiled with Schwab (they don't offer business checking) and should expect to cough up a monthly maintenance fee for a business checking account? At least until I earn enough money to keep the balance above a certain minimum?
I know credit unions offer better deals, but they are location restrictive and not ideal for online banking as a prospective expat/mobile freelancer.
Any advice would be great.