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How to Get a Good Bank for My Business
I am shopping for a bank for my newly established business. I would love to set up a strong relationship with them. What kind of questions should I be asking during my interview to protect myself from surprises and hidden fees?
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 A good start is to come prepared with a list of bank services that you think you'll want to use. Ask about each service, any fees for using it, whether any relationship pricing is available, and whether there are any restrictions on use of the service. Be able to estimate the deposit balances you are likely to maintain and the transaction levels you expect to generate (deposits, checks issued, etc.), although admittedly those estimates will be very tentative, since your business hasn't yet established a track record.
Finally, ask about any bank policies or procedures that might affect your business transactions, and be open when the bank representative asks about your business and background. Just as you want to know as much as you can about the bank, the bank will want to know as much as it can about you and your business.
Published on BankingQuestions.com 4/23/10
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