NetBank shut down by Fed, looking for a new business bank account

[philbish]

I loved NetBank but unfortunatley they were shut down by the government.

I've checked out EverBank, but they don't allow online wire transfers, they require a form to be faxed in everytime.

I tried signing up with HSBC, but they require a physical visit to my business location, and I'm just outside the 10 mile limit from their branch.

What are your suggestions for a small business bank account that allows international wire transfers to be processed online?

[jtara]

I'll repeat my suggestion from a previous thread to check out your local credit union. (If in the U.S.)

Yes, many credit unions now offer business accounts. And most credit unions no longer have restrictive membership requirements. At MOST, they might require that you live in a specific geographic area (city, county, state). Most don't even require that.

They tend to provide friendlier service, lower costs, more favorable interest rates, and more conservative accounting and reserve policies than banks.

Drives the banks crazy, and they periodically get their lobbyists to huff and puff in Washington to stop their "unfair competition". Unfortunately, the most recent effort was somewhat successful, and credit unions were forced to drop private excess deposit insurance (>$100,000).

Credit unions still offer protection to $100,000 through NCUA, a government agency similar to the FDIC, as well as new protection to $250,000 on certain retirement accounts.

Dunno specifically about online wire transfers. But the larger ones offer very complete business services.

[oziman]

I use BoA but they don't allow online WT..

Possibly Well's Fargo does, also from personal experience the Credit Union is a great idea.

[JohnRoy]

First Internet Bank of Indiana.

Firstib.com

[firstib.com...]

Never let your account exceed 100k.
1500 Netbank customers learned the hard way :(

[cfx211]

I used FirstIB back in the day and they worked out fine for me. Once my company reached a more formalized status I moved over to Wells Fargo and have no complaints about them either.

[LifeinAsia]

CitiBank is the best I've found for international wire transfers- $20 each. And they have a great online interface. The only thing I don't like is the $5K min. average balance to avoid a $10/month service charge. It would be nice to have that money earning interest somewhere...