Posted: 7/2/2014 12:43:21 PM EDT
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Any of you business owners have a great bank to do business with? I've been doing business with United Community Bank but they have all but closed the branch local to me. I have had several other banks solicit my business recently and actually opened 2 new accounts with BB&T, both of which are very disappointing in regards to the actual level of service I receive as opposed to the level of service they promised.
I don't understand the business model of banks these days, they treat their customers like crap for actually funding their business. BTW: I'm in the west metro, Douglas County specifically. |
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I used a local bank since I was 14 years old.
I had my business accounts with them and it SUCKED. The service was ok, but they just couldn't keep up with technology and their website sucked big time. I pay most of my stuff, including payroll, via online banking. I was so frustrated I was ready to shoot my computer after being kicked off constantly or never being able to log in. I moved all my business accounts to Chase. I hate big banks, but I cannot say I have had one bad experience with them. Not one. Their on line banking rocks and my CPA loves them as well. Makes his job super easy. YMMV. |
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We have tried most of the big banks and have settled with BB&T. With BB&T you need to pick a branch where the staff does not turn over and start a banking relationship with one of the branch officers. If you have young children, find one with young children so you have something to talk about. Sun Trust sucked, Wells Fargo sucked, Chase sucked, and BB&T can be bad if you don't go in and make it personal. Just my experience over the last 25 years. All our business accounts are at BB&T now. BTW, if you change banks and need new checks, USE COSTCO and save big money. |
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I opened my business account last year with Delta Community Credit Union. They've been pretty good.
And then 2 weeks ago someone passed a forged check, and ran a fraudulent e-check on my account. To the tune of $7500...  
A phone call or two later, and a visit to a branch to sign a few affidavits and they made me whole. As quickly and as painlessly as possible. I'm impressed and very pleased. |
| Regions Bank. Avoid them at all costs. Been there for a long time and they have NOTHING to offer a business. We would switch if we could find anyone with products for a small business. We know the people there, at least the very few remaining, and they treat us well, but the corporate has their head where the sun does not shine. |
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This is who we use. It may just be the branch we mainly deal with but they have been great. Quoted:
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My ex uses bank of north Georgia for her small business. They used to be Douglas county bank. She's happy with them. This is who we use. It may just be the branch we mainly deal with but they have been great. I used Citizens and Merchants bank before they were assigned to Bank of N. GA. They were fair and I don't recall any issues with them like I am finding with others. Maybe I'll give them another shot. A guy who was at United Community is now with Regions and has been trying to get me to try them but I have heard too many bad things about them. BB&T has good ratings for business banking but they are turning out to be way too detached from the customers on the local level. I just received a notice from them that I had an overdraft of $1800 when there was actually over $40K in that account so I have to take time out of my schedule to be on hold with their 800 number for half an hour 3 different times plus a visit to the local branch, all the while being treated like I'm lying or stupid, to get it fixed. My personal accounts are at Hamilton State Bank, formerly Douglas County Bank. They, too, have been soliciting my business from their headquarters in Braselton but when I have tried to get in to see the local branch manager he is never available and doesn't return my calls. Had the same thing happen with Chase bank, agent set up an appointment then was a no show, no call twice. I don't get it, why does being a good customer have to be so hard? I know they have to deal with a lot of dumb asses who bounce checks al the time and default on their commitments but I'm not that kind of guy. End of rant, thanks for the suggestions guys. |
| Suntrust.....I have a branch manager that physically opened my business account........and that I can call anytime......website works great for online.....and has good security.......maintain a minimum balance and no service charge or fees.....and it plays well with my credit card processer. CC is Signapay.........and they are gun friendly.......lot of CC companies aren't. Added benefit of having a branch close pretty much anywhere in the state.....had a deposit issue with them one time YEARS ago...1 phone call to branch manager and it was taken care of. |
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Just catching up on my GAHTF news after being on a family vacation. I work in Business/Commercial Banking, so perhaps I can be of assistance. I have worked for Wachovia, Regions, SunTrust and now a local bank who’s name I will withhold but PM me if you would like details. Banking has changed a lot over the past few years. The big banks are extremely sales focused, so if you are not getting the service you think you should be getting, it is probably because your banker doesn't see an opportunity to sell you something. Trust me, the large banks put extreme pressure on their bankers to sell, period. Even within these large banks, some bankers are better about service than others, so you can have a good or bad experience based on the person you are dealing with. Every bank has cut staff to the minimum operating levels in order to survive. The bankers who are still employed are usually drinking from a fire hose in regards to their workload. If you are dealing with a Branch Manager for your business account, you are not dealing with the right person. All large banks have dedicated Business Bankers who are more comfortable working with businesses and they know the products and can help make recommendations based on that knowledge. Work with the Branch Manager for everyday deposits, but try to get directed to a Business Banker for loan or treasury related needs – the Busines Bankers also have a lot less on their plate in comparison to the Branch Managers. If you work with a big bank, your banker has little to no authority to help you and typically will have to go up the food chain to get things done for you, e.g., credit decisions, fee reversals, reports, etc. They may tell you that decision are made locally, but that's bullshit. When I worked for SunTrust, Atlanta's hometown bank, my credit decisions were made in North Carolina and our analyst was in India...yes, India. Wachovia's were made in North Carolina and Alabama and Regions were made in Nasvhille. Big banks are interested in big businesses. Put yourself in your banker's shoes, if you are faced with large goals and your job is on the line, how are you going to meet those goals? Working with larger companies moves the needle faster, so while your $2M revenue company may seem big (and it is) your banker may be focused on $50M revenue companies to help him/her meet their goals. It's sad, but it's true. That same $2M revenue company working with a smaller bank may be considered a huge account because smaller banks don't focus on the larger companies. The FDIC calls the shots. Your banker has two bosses; their internal boss and the FDIC. Despite your opinion on how things should be done, the FDIC has put the brakes on a lot of practices that were “normal” several years ago like selecting your own appraiser for a real estate loan. You banker has a lot of rules to follow and their job is on the line for every decision they make, so help them stay within the bounds of what they are able to do for you by asking “what options do we have here” or “how does this fit within your policy” instead of taking the “I'm the customer and I'm always right approach”. The FDIC has little sympathy for poor decision making. If your banker can't clearly define these standards, or can't explain their thought process and course of action – find another banker! If you want local decision making and good service go to a local bank or credit union with local management and find a banker who puts their cell phone on their business card.
Well, this is some general information that may be helpful. I agree that the industry, in general, is challenging to deal with and it has become too shortsighted. PM if you have more specific questions – I am happy to help in any way possible. |