Who is the Best All-in-One bank?

3 Replies

Good Afternoon BP!

As the title says, I'm in the market for a new bank; hopefully one that can do it ALL efficiently and with great user-friendliness.

I've tried to keep it "local" and support my community, but it's just not working out. The bank I've have been using, is stuck in the 20th century e.g. no automatic payments, very basic online features, doesn't link to QBs. Still require wet signatures on most documents (even though they can't tell me why a "wet" signature is still required), difficult to transfer money out of the account etc. Since I recently moved 4,000 miles away from the local branch, every banking task no matter how easy and trivial has turned into a time consuming inefficient process. Venting over.

So, I'm looking for a bank specializes in small businesses and that has three main features:

- Great online/mobile platform that has all of the latest features: wire/transfer funds, auto-pay, invoicing, no or limited fees, links with Quick Books, categorizing transactions, etc.

- Offers competitive-rate/feature lines of credit and/or credit cards to Real Estate investment and management companies

- Specializes in small (100K-2M) CRE financing that can: refinance, fund acquisition, umbrella, blanket, portfolio loans.

I've done a couple searches and it looks like Wells Fargo and Capital One are the front runners.

What are you using?

What do you like or don't like about your bank?

Although not "Local," I strongly feel the best bank is USAA. Be advised you there are some eligibility requirements to become a member.

I use this bank for much of my insurance, banking, loans, and investment needs. On past insurance claims they have been second to none. Check them out and Im sure you will be impressed.

Originally posted by @Vince Gethings :

Good Afternoon BP!

As the title says, I'm in the market for a new bank; hopefully one that can do it ALL efficiently and with great user-friendliness.

I've tried to keep it "local" and support my community, but it's just not working out. The bank I've have been using, is stuck in the 20th century e.g. no automatic payments, very basic online features, doesn't link to QBs. Still require wet signatures on most documents (even though they can't tell me why a "wet" signature is still required), difficult to transfer money out of the account etc. Since I recently moved 4,000 miles away from the local branch, every banking task no matter how easy and trivial has turned into a time consuming inefficient process. Venting over.

So, I'm looking for a bank specializes in small businesses and that has three main features:

- Great online/mobile platform that has all of the latest features: wire/transfer funds, auto-pay, invoicing, no or limited fees, links with Quick Books, categorizing transactions, etc.

- Offers competitive-rate/feature lines of credit and/or credit cards to Real Estate investment and management companies

- Specializes in small (100K-2M) CRE financing that can: refinance, fund acquisition, umbrella, blanket, portfolio loans.

I've done a couple searches and it looks like Wells Fargo and Capital One are the front runners.

What are you using?

What do you like or don't like about your bank?

Look for another local community bank or Credit Union. Almost all small banks and credit unions outsource their online banking and bill pay. If the bank you are using is not upto date with the technology, that's because they don't want to outsource their banking to a good 3rd party company.  There are some good ones out there. There are some cheap ones out there.. Even with good ones, there are high end products and basic vanilla offerings. 

Go to some other local banks and look on their websites. Usually you should be able to find enough information that would allow you to make a smart decision w/o having to go to a big bank. I also believe in staying with small community banks and credit unions. I have over 15 yrs of experience in this field of online banking and backend processing for banks and credit unions. 

I’m in a Wells Fargo mortgage and I feel kinda dirty about it. They have been pretty shady the last few years with deliberate fraud (ex: the fake accounts scandal) and with their involvement funding the Dakota Access Pipeline.

Seattle WA, Davis CA and Santa Monica, CA were 3 cities that cut ties with Wells after DAPL that I know about (FYI - interesting tidbit - Wells lost 5 billion on those 3). More cities and groups were making noise this year about doing the same (Google “divest Wells Fargo”).

So, I’m not sure what your reasons were for your original interest in banking locally, but if ethics are any part of it, I would skip Wells.

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