Dave Vang, a finance professor at the University of St. Thomas Opus College of Business, recently shared his insights on the best business banking accounts in an article from WalletHub. Vang highlighted the competitiveness among banks in terms of their offerings and advised smaller firms to consider community banks for their business banking needs.
When asked about advice for those looking for a new business bank account, Vang stressed the importance of considering the size of the business. For businesses that are not considered mid-cap or large-cap, community banks may provide more tailored services and benefits compared to larger institutions.
In discussing common mistakes people make when searching for a business bank account, Vang emphasized the necessity of checking customer reviews online. These reviews can offer valuable insights into fees, customer service, and overall satisfaction with a bank’s offerings. By neglecting to research customer feedback, individuals may overlook crucial information that could impact their banking experience.