Comparison ShoppingBy: Chaston Hill

When Choosing a Bank…

What steps should I take and where do I

start?

Questions that you should ask! Is your money secure? How much does the account cost? Online bill paying options? Is the bank accessible enough to meet

your needs? Convenient locations ? Are there minimum balance or minimum

deposit requirements?

Bank of AmericaBank of America Business Advantage Business Fundamentals

Good for you if

Your average monthly balance is greater than $15,000You typically write and deposit fewer than 500 checks per monthYou typically deposit less than $25,000 in cash per month

Your average monthly balance is less than $15,000You typically write and deposit fewer than 200 checks per monthYou typically deposit less than $10,000 in cash per month

Business savings accountBusiness Interest Maximizesno additional monthly fee

Business Investment Accountno additional monthly fee

Second business checking account

No additional monthly fee $12

Account ManagementNo monthly fee $15

Stop payments No fee $30 per item

Incoming domestic wiresNo fee $12

Incoming international wires

No fee $16

Personal checking account

No monthly fee for first 12 months

Monthly fee No monthly fee for the first 3 months No monthly fee for the first 2 months

Bank of America Bank of America has been with us sense 1922. They are a well established company, that provide

you with lots of information regarding their accounts and banking information .

When you go on to their website you are almost immediately prompted with a live assistance that will help you with questions that may arise.

They are one of the nations Top Banks.

Wells Fargo Wells Fargo Gold package Platinum Package Business Checking Account

Overview A relationship package for growing businesses that provides exceptional value and many ways to waive the monthly service fee.

A relationship package for established businesses with greater checking account activity. 

This versatile and low-cost account is suitable for businesses with moderate transaction activity.

Monthly Transactions Up to 200 transactions per month

Up to 400 transactions per month

Up to 150 transactions per month

Business Bill Pay free of Monthly Service Fees

No Fee No Fee  

Bonus Interest Rate on Business Market Rate Savings Account

No Fee No Fee  

Free Access to online Banking No Fee No Fee No Fee

Free Mobile Banking No Fee No Fee No Fee

Free Business Spending Report No Fee No Fee No Fee

With Interest Option   No Fee Available

Monthly Service/Maintenance Fee

$14  $30 $12

Wells Fargo Wells Fargo has been with us sense 1852 much longer

than bank of America. They are also a Well established company but are

they better than bank of America? I think that they provide you with more account

options to optimize your personal control over your accounts.

Bank of America gives you certain guidelines and you have fewer options unlike Wells Fargo.

ChaseChase Business Economy

CheckingBusiness Checking Platinum

Access to 19,000 Chase ATMs nationwide

No Fee No Fee No Fee

Online Bill Pay No Fee No Fee No Fee

E-mail Alerts No Fee No Fee No Fee

Online Check Images No Fee No Fee No Fee

Online Statements No Fee No Fee No Fee

Business Debit Card No Fee No Fee No Fee

Strength & Benefits

 Overdraft Protection available  Business online services  Only $25 minimum to open

 Overdraft Protection available Business online services Package of additional benefits for business savings, CDs and personal checking

 Overdraft Protection available  Business online services Access to cash management services

Chase In 1923 was when Chase became an official Company. Like Wells Fargo, Chase allows you to have more

control of your accounts. Offer different individual sets of account that will best

fist your needs, even if its work or business related. Chase does a well job prompting its company to

further better peoples needs.

What is the difference between a Credit Union and a Bank?

Credit Union Non-Profit Owned by their Members Governed by board of

directors Elected by Members.

Accept Deposits from their Members.

Bank Regional or national for-

profit business Owned by Private

investors Governed by board of

directors chosen by the stockholders

Credit Union Or Bank When you walk into a Credit Union you

automatically feel much more at ease. People that work in Credit unions are nice people and you feel more comfortable.

The fact that the company is owned by you, in a way, is a much better idea, because without the people in the company it would not strive.

When with a Credit union you generally get better interest rates in your saving accounts also.

CU!

More Reliable? Banks board of directors are chosen by

stockholders. What is a stockholder: someone who holds

shares of stock in a corporation. More or less they deal with money, and want more and more of it. Is that really who you want bank with?

Be realistic when you do some background check on your bank or credit union. To be sure they have a good record.

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