re: Best bank for business account?

There is an old adage that goes like this and you probably saw this with the PPP fiasco:

You owe the bank a few thousand...the bank owns you.

You owe the bank millions or billions of dollars you own the bank.

When you owe the bank a few thousand they can easily write some of it off or go after you personally for it, but once you start borrowing millions in capital, the bank is in business to keep you in business. So you can expect a more personal relationship with the more you owe. But smaller banks do help better when it comes to small businesses as they can develop a working relationship with you.

One issue that I noticed with smaller banks is that they appear to use the same back end IT systems. For example all their websites and mobile apps have the same features and layout and they just put their logo on it as it is a white label app from the same developer.

On the flip side CapitalOne and Chase have custom apps unique to them and they cram a whole lot more features in them.

Also some smaller banks will farm out their credit cards to larger bank to service. The credit card is issued with the bank’s name on it, but it is serviced and managed by larger retail bank.