Ask HN: Bank Account for Bootstrap Startup

Either 1) at the same bank as your personal accounts (for simplicity) or 2) some credit unions allow local businesses to join(this is what I will be doing)

If you are at any point going to get a loan try to stay small and local, they will be more willing to work with you. If you ever try and get a loan, larger banks will turn down a software company cold. They want physical assets as collateral. The small company I currently work for went to the large bank they are currently with for an increase in their line of credit and despite a decade of profitability, large growth the past two years, and government contracts providing revenue, they were turned down.

Make sure you consider any future accounts you may be opening when making your decision. For instance, my startup requires me to have three trust accounts that name a real estate broker as trustee, which really means that there can't be any commingling of monies. So far I've only found one (Mechanics Bank) that offers these types of accounts and it's not one of the 'top player' banks .

Also, make sure their services have low fees or perks , and if they offer services that may unique to your business, such as ACH transfers, or check courier services. It's really helpful in the long run.

This would depend highly on where you are based (i.e. US?)