@solarbrowser wrote:These days I have hit too many times where the business bank account either held money for 2 weeks, canceled outgoing wires that I needed, or closed down my bank account unilaterally. This happened with online banks such as Grasshopper Bank, NBKC, and of course Chase.
What drives me crazy about these instances is they do call to confirm. Often in my business I need money to move immediately to pay vendors, etc. Doing research looks like banks the right to hold on your money, lock your account, or even close it down unilaterally! They can close it down even if you haven't done anything illegal really, just if they find transaction they don't like.
Obvisiously, to keep my business running I can't afford to hit these stituation. So looking bank nation wide or Dallas, TX area that actually has customer service who care to retain customers. And won't, or is very unlikely to close accounts or lock down accounts without customer permission.
Any suggestions?
Strange that you mentioned Chase, because I was going to recommend Chase as the best business bank. No hassles ever in my experience.
Personally, I've found that credit unions are a bit more business personalized and caring than traditional banks. As a Texan myself, I use 1 traditional (PNC), not recommended and x2 credit unions for business (MCCU - South Texas geo restricted and TDECU geo restricted to Texas (not all counties are covered, but worth a check if they cover yours)).
Alternatively, look into cu's near you.
Added note: you'll also find CUs generally have better interest rates and sometimes, no maintenance fee Biz accounts 😉
The short answer is that pretty much any bank or credit union will do the things you've listed if they think there's reason to, so if you're looking for an FI that will never put a hold on a check, cancel a wire, or close down an account, I don't think you'll find one. Depending on what kind of account activity led to Chase, etc, taking those actions, a credit union that you already have an established relationship with might be less likely to do so, if they've gotten to know you as a member.
@Slabenstein wrote:The short answer is that pretty much any bank or credit union will do the things you've listed if they think there's reason to, so if you're looking for an FI that will never put a hold on a check, cancel a wire, or close down an account, I don't think you'll find one. Depending on what kind of account activity led to Chase, etc, taking those actions, a credit union that you already have an established relationship with might be less likely to do so, if they've gotten to know you as a member.
I be interested into how much activity OP is doing and the volume of those transactions.
OP, if you are planning to wire transfer from a CU, over here in Michigan I have seen some CUs don't do international wires, if that is something you planning on doing. So I would search around depending on the CUs or another bank you planned to stay with.
