Business Checking and Savings Accounts

Where should I do that end of my banking?

[joestern]

We're pretty fed up with our current bank - HSBC. The service has gone from bad to non-existent, and the interest rate is so low that we've moved all of our cash back to our PayPal account (4.8%).

I know it's relatively off-topic here, but everyone in this forum must have a regular bank. Any good recommendations?

We need good online support, low fees, and hopefully a related savings/money market account that offers something near 5% interest.

[ecommerceprofit]

I recently setup an account with Vanguard (FDIC insured for first 100K) and super liquid. If you don't care much about liquidity they have other products with higher yields. We still use our regular bank for daily check writing but move larger chunks of cash into Vanguard to get a good rate. I have the Vanguard Admiral Treasury Money Market Fund at 4.72%. There are slightly higher yields at regular banks online but they do not have corporate accounts - only personal accounts which would work if you are a sole proprietorship - but if you are a corporation Vanguard is good.

[joestern]

I don't know why I didn't think of that. I use Vanguard for my personal stuff - I didn't realize they do business accounts also. But they sure do, and I'm filling out the forms now.

So I'll keep HSBC for my local banking, but keep the bulk of my cash in Vanguard.

[jsinger]

a MM fund isn't supposed to be a bank checking account. Virtually none will allow large amounts of check writing.

Vanguard Prime MM is now above 5% as are a few others. Anything Vanguard is great, in my opinion.