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Small "business" banking account
Posted on 4/25/26 at 9:50 am
Posted on 4/25/26 at 9:50 am
Looking for bank recommendation. Preferably a small local bank that won't cost me anything
Was using Heritage Bank of St Tammany. But they were bought out by On Path Credit Union. This will force me to pay a $10 monthly fee that I didn't prior.
I have a side business with 1099 income. Basically use account to separate business from personal finances. Effectively only use it for clearing account before moving money to solo 401K or pay self employment taxes. No real expenses - everything I spend gets reimbursed and put on personal cards - so not really making purchases from account.
Was using Heritage Bank of St Tammany. But they were bought out by On Path Credit Union. This will force me to pay a $10 monthly fee that I didn't prior.
I have a side business with 1099 income. Basically use account to separate business from personal finances. Effectively only use it for clearing account before moving money to solo 401K or pay self employment taxes. No real expenses - everything I spend gets reimbursed and put on personal cards - so not really making purchases from account.
6
Posted on 4/25/26 at 10:15 am to Stateguy
It sounds like you are Northshore so this might not be the local you are looking for. I am in Baton Rouge (mid city) and use Citizens Bank. They answer phone when you call, there to help, and all their technology links with QuickBooks of course.
Posted on 4/25/26 at 10:41 am to Stateguy
quote:
I have a side business with 1099 income. Basically use account to separate business from personal finances. Effectively only use it for clearing account before moving money to solo 401K or pay self employment taxes. No real expenses - everything I spend gets reimbursed and put on personal cards - so not really making purchases from account.
You need to get a business bank account and a business credit card account asap. REALLY bad idea to be mixing this stuff up, at all.
If you buy something with a personal account you should be paying yourself back from the business account.
The main reason to use a local bank is the ability to establish a relationship with a banker. But in regards to actual transactions, deposits, app use, mobile deposits, transfers, etc. there's nothing wrong with using a larger bank. Most commercial banking has no fees with very little balance.
This post was edited on 4/25/26 at 10:42 am
Posted on 4/25/26 at 6:24 pm to Stateguy
It's not local, online only actually, but I've been happy with bluevine. Website is great
Posted on 4/26/26 at 7:22 am to Stateguy
I recommend Investar Bank or B1 Bank.
Posted on 4/26/26 at 8:25 am to Stateguy
We use Gulf Coast Bank for multiple small businesses and personal accounts. They have been great to work with.
Posted on 4/27/26 at 11:09 am to Vrai
quote:
It's not local, online only actually, but I've been happy with bluevine. Website is great
I’m using them too. I have no need for a local bank. If I get paid in cash for something (highly unlikely), there’s a process to make those deposits.
Posted on 4/27/26 at 11:23 am to Stateguy
As another poster pointed out, get a business credit card. If you like your current credit card point system, you should be able to get a business card connected to it (1 login). Then you'd be able to transfer the points, if you wish.
A lot of banks want to see minimum balances and/or automatic payments for the accounts to qualify for $0 fees. It may be as simple as asking around.
A lot of banks want to see minimum balances and/or automatic payments for the accounts to qualify for $0 fees. It may be as simple as asking around.
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