Question about Banks and Bank Accounts

[Brandon Baker]

Hey folks, I have what should be a quick question. I currently have a bank account for just the business, but now that I've scaled the business I have an LLC, although the account isn't tied to the EIN yet. I have to set up a new account to do so.

I'm less that thrilled with my current Credit Union's service so I'm looking for a new financial institution. I invest remotely...so, should I set up the business account in the market I invest in, or local to me, or perhaps do both? Dave Greene mentions in his books he looks for local lenders then set ups bank accounts with those financial institutions, seems like it could get out of hand quickly, anyone doing that? 

Does anyone have national banks they really like doing business with, or do you stick with the locals? 

Thanks in advance! 

[JD Martin]

I have done both. Lately all of my business has been with my local credit union, who does business lending, but I like my contact and my relationships there. Before that I was using a regional bank for my business, and mostly the same thing. I've also done business with some big nationals like Quicken, US Bank, BOA. There's advantages to all.

Personally, I like having a business account with an institution that has enough branches that I can easily utilize it from multiple locations and that my tenants can use for depositing rent.