Best Business Bank Account For Real Estate Investor

[Kylie A.]

I’ve compared Chase, Bank of America, and Amex but I’m still feeling a bit lost. Here are my main concerns:

1. Wire Transfers: Outgoing wire transfers are a big part of my business. I noticed that Chase and Bank of America charge fees for wires unless you meet specific criteria. For Chase, they seem to have the edge in this category, but I don’t like their business credit card options.
2. Business Credit Cards: I prefer to keep all my accounts (personal and business) in one place, but the options are limited. Bank of America’s business credit cards seem better, but I’d need to hit their Preferred Rewards status to reduce fees, which might be challenging.
3. Amex: I like Amex’s reputation and services, but their outgoing wire fees are higher, which is a downside given how many wires I send.

My ideal solution would be a business account with minimal wire transfer fees (especially outgoing wires) and a solid business credit card option, preferably with no foreign transaction fees.

What would you recommend for someone like me who does a lot of outgoing wires and occasional foreign transactions?

[Jonathan Greene]

The best bank is the one that you will use. You are procrastinating on the smallest of things which means you may lack the confidence to do what you are planning to do. Chase or B of A or any bank isn't going to be much different than each other. You are micro-analyzing the minutia of each offering, but that's not really the issue. Those things won't matter if your business crushes it.