ASk HN: Best small business banking practices?
oogali: Do they have TD Commerce out there? They have been absolutely wonderful for me.Reasons:
- 1st year free checking, $50/year afterwards,- they generate debit cards on the spot in the branch,- 7-day banking, branches open late 4 days out of the week,- 24-hour customer support number, always answered by a human[ long story warning ]Why do I really love Commerce?When I started banking with them, I was spending a lot of time with a client in DC. I'd drive down to DC for the week, and drive back to NY. I'd park in a garage that was $10/day. It wasn't 24 hours, but it did the trick.This one particular Friday, I left the client's office late (about 7:45pm). The garage was cash-only so I had to go to the ATM. My Citibank card had some sort of fraud block on it, so I couldn't take money out, and I had forgotten my newly-issued Commerce PIN.So I had a bum card from Citibank, and the ATM ate my Commerce card because I tried so many times in desperation. I called Citibank, and after navigating the IVR, a rep said they could not help me until Saturday morning when a branch opened. Overnight hotel stay? I'm on ramen money at this point.Next option was Commerce: I'd been a customer a total of probably 3 weeks at this point, so I didn't expect much. I called Commerce, who transferred me to the local branch which was still open (they close at 8pm). I explained the predicament I was in (garage closes in 5 minutes, don't want to do overnight hotel stay).Commerce promptly blew my mind. The person on the phone said if I could make it there in the next 5 minutes, she'd withdraw $100 from my account and have cash waiting for me at the branch so I could be on my way.I jumped in a cab, got to the branch, collected my $100, paid the taxi. The rep issued me a new debit card on the spot, set my PIN (to something I could remember this time). Caught a taxi back to the garage, and arrived there at 8:02pm.The garage guy left a note saying I should call him on his cell if I arrive back before 8:15pm. I called him, paid the garage, and set out on my journey back home.So, if it hadn't been for Commerce, I would have had a really bad weekend. Instead, I had hands-down, the best clutch performance by a bank for someone who was too new to fall into the "loyal customer" category.