elizabeth_gonzalez•26d agoProlific Poster

Had to pick between a local credit union and a big national bank for my business account

I went solo as a flooring installer about 6 months ago and needed a business checking account. The local credit union offered no monthly fees but had a 10,000 dollar deposit limit per day and no mobile app that works worth a damn. The big national bank had a 12 dollar monthly fee I could avoid if I kept 1,500 in the account, plus their app let me deposit checks by taking a picture. I went with the national bank because I get paid in checks from homeowners and didn't want to drive 20 minutes to the branch every time. So far it's been fine, the app works, the fee waiver is easy to meet, but I do feel a little bad not supporting the local place. Has anyone else had to make this call and regretted going with the bigger bank?

2 comments

2 Comments

sam_rivera26d ago

Yeah the mobile deposit thing was the deciding factor for me too.

umab3526d ago

The mobile check deposit thing got me too. I had to pick between a bank with a branch two blocks away and one with a parking lot the size of a postage stamp. I picked the one with the good parking because my back hurts from kneeling all day and I didn't want to parallel park. Then I found out their mobile deposit limit is 500 dollars a day. So now I'm parking that tiny lot anyway to deposit bigger checks in person. Bought a lumbar seat cushion last week. All around a losing situation.

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