Originally Posted by JonboyE

Edited to add: for a business account I guess one thing you need to think about is that for commercial lending they do tend to be quite conservative. No problem borrowing against real estate but they don't like losing their members' money in speculative business ventures.

Originally Posted by dbd33

I haven't seen Lauren for ages, I suppose the TD have shipped her off to boost business at some other branch.

I'm a bit perplexed to see how one bank can be better for, small or medium, business than another. It's not like personal banking where there might be a mortgage, a credit card, a car loan, lots of products. A business receives cheques or cash and writes cheques, so long as the teller can count cash reasonably quickly, the bank's providing all the service its competitors might.

I find that, with the TD, there's a problem with a cheque once a year or so, the wrong amount deposited or withdrawn, they're reasonably quick to sort these things out. I think that, in a business context, that's as good as it's going to get. Banks just don't do very much for businesses so there's not much scope for them to differentiate themselves.

Originally Posted by The Aviator

I think the point is about the relationship with the bank, which is perhaps more important to a business owner using finance. Larger and established customers also have more success in negotiating charges. Once with a financial institution I find it best to stay there, unless they screw up royaly.

Personaly RBC, have been very good for us, I do also use a credit union and and online high interest ( Oh for the days of 15% and parity on the GBP) provider.

Originally Posted by dbd33

A business receives cheques or cash and writes cheques, so long as the teller can count cash reasonably quickly, the bank's providing all the service its competitors might.

Originally Posted by JonboyE

It is a credit union, not a bank. Credit Unions are something like the building societies used to be in the UK before they all demutualized in the '90s. With a Credit Union you become a member, not a customer. Any excess of income over expenditure is returned to members as an increase in the value of their membership shares. It s not much because they don't aim to make a profit. Coast Capital offer a free-as-long-as-you-stay-in-credit chequing account. Run a free savings account along side this and they pay you to bank with them.

For mortgages the big banks post a rate way in excess of what they will actually lend at. You have to negotiate them down and, because not everyone is good at negotiating, many people pay more than they need to. Coast Capital don't. They have one, very competitive, rate and that is it. Everyone gets it.

The Credit Unions may not have all the electronic whistles and bangs you are used to in the UK. Internet banking is fine for everyday use and you can use any Credit Union ATM for free. However, for some transactions you may still need to go to a branch. It is not much of a hardship. They employ very nice people.

Edited to add: for a business account I guess one thing you need to think about is that for commercial lending they do tend to be quite conservative. No problem borrowing against real estate but they don't like losing their members' money in speculative business ventures.

Originally Posted by Quinch

Liking the sound of them a lot and when it comes to coinage, the less whistles and bangs the better imo, especially on the web.

I have to say though, the idea of negotiating/haggling a mortgage rate sounds like fun if only for the experience. Do TD do this at all?

Quality info, appreciated.

Originally Posted by Steve_

I know we have these threads about banks on here, but I was wondering if there was anyone out west who has their own business or is responsible for the business' bank accounts because I'm getting really narked off with my local bank, they're utterly hopeless. They were never great but in the last year or so they've become pathetic.

Anyone have any really good experiences with banks?