How many have a separate business checking/savings account and what is a good bank to use? I am currently thinking of going with Washington Mutual. My photography business will not be my main source of income. Advice?

I really encourage anyone out there who is starting a business to get a separate business checking account. Not only is it recommended by the IRS, but it really helps you keep your business records much more accurate. That goes for whether it is a full-time or part-time deal.

I think most banks would be able to offer the basic services that you would need. I use Commerce Bank, but I think they are regional to the midwest.

I opened my CitiBank Business account not to long ago. They are not the cheapest bank around but there services are above and beyond other banks I have used in the past (granted that was for personal accounts but whatever.)

This might just be me but the coolest part about having CitiBank is being able to use their ATMs all over the place! Every 7-11 that has an ATM machine, has a CitiBank ATM. So no fees for small withdrawals.

2¢

IMHO, definitely have a separate account and try to pick a small local bank who won't pull the bul*5%!# that so many of the larger banks do. Seriously, Clark Howard dislikes mega-noservice-feesoutthewazoo banks like Citibank, Bank of America and Wachovia...even calling on his listeners to withdraw their funds from Bank of America after they refused to admit wrongdoing.

I'm currently with a mid-sized bank, but will always have a special place in my heart for small-town banks who give great customer service. Check for some in your area...oh, and if you can get into a credit union- even better.

Good luck.

We have several business accounts with Chase, and they have been wonderful.

All my accounts are with Bank of America and I have a business credit card with Chase. I've never had any problems with either and none of them charge me fees.

I have a business checking with a local credit union (can't beat the customer service of a local place!) and savings is in an ING account.

I would check the various banks local to you. Look at things like location, hours, fees, etc. Compare the ones you think would be suitable to you, looking at the services you would use. Many have online information, which makes it easy to compare.

I chose a local one that offers free checking, free online banking, has a branch convenient to me with convenient hours. It happens to be a credit union. Although there are a couple of others in town that basically offer the same services. One even offers to pick up business deposits daily (no cash) as a free service.

Hope this helps!
Linda

Jose, definitely have a separate account for your business. It makes things much easier at tax time. I have a business account at Wamu and have had no problems at all, plus it's completely free. And free is a very good price.