I just started my LLC an I am about to open a Bank account is there an advantage to opening an account at a small local bank than a major bank, which should I choose?
What is the purpose of your LLC?
What are you opening an account for? What money are you placing in there?
The LLC is for my Real Estate Properties and all money placed in the account will be from the properties cash flow
Who will be doing the lending on your properties? I like small banks for lending so I use a small bank for our business checking. I’d put your acct where you’ll be getting the mortgages from.
Ain’t no frickin way I’m going with a big boy. The money is in the local banks, plain and simple. This where you will reap the rewards.
Nate-WI
but its the small banks going out of business but still your safe unless you plan to put a alot of money in there.
I am also looking for a new bank to have my LLC account set up in…I have used Chase and Sovereing and both are toooo regulated, so I am looking for a small bank, I just dont know who what or where…If anyone has a suggestion, please let me know, I am in NYC, Thanks in advance…