Free Business Bank Account (Dallas)?

[movingex]

I've had a free business checking account with Chase (formerly WAMU) for the past few years and now they are going to start charging. Does anyone in the Dallas area know of any banks that offer free business checking accounts?
If so please share.

I do have the option with chase to maintain a monthly minimum for free checking but I would have to move money from my personal account to maintain that minimum. I could put a flat amount in from my personal account and just leave it but I don't know if that would create problems with IRS in some way.

Thanks in advance for any suggestions. :)

[suerenee]

Look for a Credit Union to join. I have all of my accounts at Randolph-Brooks FCU and there are no fees and my checks are free. I will only bank at credit unions now.

If you put the min $ into the account from your personal acct. you would likely claim it as Owner's Equity.

[texkam]

I thought Chase had a way to "LINK" accounts to achieve that minimum.

[lmaul01]

Capital One has a free Small Business Rewards checking account if you have under 200 transactions per month and deposit less than $5k in cash monthly. I also received my first set of checks with the binder and stamp for free.

[movingex]

Originally Posted by texkam

I thought Chase had a way to "LINK" accounts to achieve that minimum.

If that's the case that would be great.

[movingex]

Originally Posted by lmaul01

Capital One has a free Small Business Rewards checking account if you have under 200 transactions per month and deposit less than $5k in cash monthly. I also received my first set of checks with the binder and stamp for free.

Thanks for the tip.

[ChristopherCoy]

I use First United. Totally free, no minimums. Its a small bank though, so there may not be a location in your city.

[BeccaJ]

My personal acct is with chase - and their business options made me want to run for the hills even w/ my personal acct. I still want to move it because everytime we go inside for a deposit, we get pulled into someone's office to "review" our account and see if we're on the debit card reward program and mess. I like the local credit unions and have a business account at one of them.

[Steelsun]

I also recommend checking with a local credit union.
I've got 3 now at my CU and they are all free, plus free checks and deposit stamp.

[brad]

I called my Chase rep on the phone as soon as those hit my mail (I have 6 different Chase accounts, business and personal combined... not counting credit accounts.)

He told me there are other options than the minimum balance deals, but I have yet to make it in to talk to him.

If there isn't, I will be moving everything immediately... their loss given the amount of money we put through their bank.

[Steelsun]

Yeah, the big boys don't really care about small biz anymore except for the fees they can suck from us.

[TootysMom]

I was just looking into this and discovered that BBVA Compass offers a free business checking pkg Small Business Checking Accounts from BBVA Compass

[Jeff Lane]

I've used BBVA Compass for two business accounts and a small business loan since long before the "BBVA" got added to their name. They are definately no frills, but how much lace and glitter do you need on a buisiness account?

For my clients with larger banking needs than what a solo law practice needs, I have had great luck negotiating arrangements with regional banks, but I doubt a photography studio would have to have quite as much complication as a typical small to mid-level light manufacturer or importer.

As for the big boy banks, I've always advised small business types to run away as quickly as possible, and whenever they are tempted by Chase, I advise them to rent a very fast car and drive like they stole it. Bank consolidation has done more to ruin small business development and American competitiveness (in all sectors excepting banking and finance, ironically) than anything else we could have possibly done in the last several decades. So as you're leaving Chase for the last time, spit on the floor. (As a symbolic gesture, of course.)

[S-Man]

Britney, I used to business bank at Compass last year before I moved to Chase. The reason I moved to Chase was because they started charging for not maintaining a certain balance, i don't remember what it was.
I'm curious what banks in Houston offer free checking now.

On another note, I'm also curious how a bank benefits by having your money in their bank?

[bigjon0107]

I use Bank of America. I do not get charged a fee as long as I use the card one time a month (could be just buying a $.99 coke). It is a checking account. No account minimum.