Questions

My startup has 3 co-founders, and we're looking to open our business banking account. We are not seeking loans/funding at this time. We just need a simple solution that will work well and allow us to integrate easily with online payment processing. We're recurring monthly subscription based.

I've found that the most important thing to do is get a relationship with a business banker. We use Wells Fargo, and maybe I just got lucky, but I managed to find a business banker who I connected with really well and he was able to coach me through everything. Also their phone support has been very good, so on the whole I can recommend Wells Fargo.

Getting the bank account actually set up is very easy, and the business banker will recommend the right plan for you based on your needs as a startup. It only took an hour or so to actually get the account set up, and that part was easy.

The hard part used to be getting a merchant account, and then finding a payment gateway, and then connecting that with a billing system etc, but now that problem has been solved thanks to Stripe. I recently launched a startup that had a full subscription system built upon Stripe and was able to take payments within just a couple of days thanks to Stripe's amazing portal, documentation, and the many open source libraries that connect you to their API.

I hope that helps.


Answered 9 years ago

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