Ask HN: Start-up friendly banks in San Francisco? | Hacker News Reader

Ask HN: Start-up friendly banks in San Francisco?

5 pointsdnsworks4 comments

Who should I bank with in San Francisco? Square1 and SVB both seem to have forgotten that San Francisco represents a key start-up market. I don't want to spend an hour on Caltrain to deposit a check or get a sit-down with my account manager.

I am leaning towards First Republic now that BOFA is selling them and won't be destroying them, plus my old consulting company maintains a great relationship with them. Before I do that, I was wondering what bank(s) San Francisco based start-ups are happy doing business with?

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Be wary of JPMorgan Chase or Wells Fargo, and I'd outright recommend never banking with Bank of America. I've had business accounts over the years with all of them.

If you have a smaller, regional bank or credit union with good capital adequacy, little/no exposure to construction loans (the next "shoe to drop"), no exposure to sub-prime loans, and strong reserves, consider using them. You'll get better customer service. Just make sure the bank/credit union can provide all the services you need before moving your balances.

The big banks have dramatically raised fees, reduced customer service, and if you ever have a problem you're a nobody unless you have a $100M account.

Hi Michael - I manage Northern CA for SVB. We've had an office in SF for many years now - 1999 to be specific (down at China Basin, but moving to 555 Mission in Q1-ish 2010). Sorry we have not reached-out to you. We have a number of tech, lifescience, VC/PE clients in SF and we are very bullish on the region. Let's talk about how SVB can help technology start-ups. You would never have to leave SF to bank with SVB.

I am in Palo Alto, but I can introduce you to our SF team at your convenience. Call me at 650-320-1113. If I am out, that will forward to my cell phone. - Mike Selfridge, Head of Northern CA, SVB

Will somebody actually call me back? I've been shuffled off to two people so far, none of whom have returned calls .. I can be treated like that at BOFA, and know that they have a branch every 10 feet ...

sure - what is your phone number?

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