People give many turns to what Bank choose for your company or business, just as for their personal finances, and it is common to discuss what is the best bank to work?. To tell the truth it is normal to operate with several banks over time because people change and the Bank’s priorities also and along the years spent recommend a concrete Bank to not wanting to know anything of it.
When deciding which Bank choose to perform an activity thing does not change much overall, although Yes it must be clarified that a bank can small business server work very well for individuals but not for companies and vice versa. In addition the corporate banking is different in each Bank and if you’re an independent or a SME there are banks with which you will work better than others.
As currently we don’t have many friends in the banks… we will try to explain those things to keep in mind when deciding what is the Bank that best suits you for your business.
The first recommendation and for me the most important is to have at least two banks. There are many people who don’t see it necessary because it considers that it has enough with one and reduces administrative complications but experience shows us that it is better to have at least two to compare and to not rely on one only when you need to study any type of operation.
In addition, it is very important that the Bank go knowing you slowly see your every day and the type of activity you do in your business, so it is not just to go for a loan to a bank who have has since several years that another bank who are going to ask for something without giving you business before.
Economic conditions to consider
From the strictly economic point of view, there are many aspects that we must consider to decide which Bank to choose:
Management fees or maintenance.
Commissions for movements.
Fees for web access (telematics).
Fees manual transfer or online.
Fees for issuance of receipts domiciled (notebook 19).
Fees for issuance of payroll (34 notebook).
Commission income checks or collection.
Fee refund checks or receipts. Here, if your usual operational includes the income of checks, I recommend agree a fixed especially for documents of high amount that if the Commission is going by percentage involve much money.
Fee for issuance and maintenance of cards.
Existence of paid accounts.
If what you need is funding, access to it depends on every moment that arises operation (special campaigns for small businesses and freelancers, for example), the existence of funds ICO or the EIB (European Investment Bank), and other variables. Hence our view is clear, every operation must be taken as independent and compared with two or three banks, preparing a small record (almost all banks ask for the same information) and delivering the same information for each one.