What's the deal: personal or business accounts?

Dougmeister · Oct 16, 2013

I thought a few dif't people told me that banks wanted you to have a personal account because they would charge you for boxes if you were a business.

One of my banks here in Central PA is severely limiting me on boxes. They say if I had a business account, they could write off the cost.

(Reminds me of a Seinfeld episode... "They just Write it off!")

Capt. Morgan · Oct 16, 2013

Most personal accounts are free. Business accounts have a monthly fee, and include change orders in that fee.

DirtyRob · Oct 16, 2013

I would just ask different banks. Just make sure you tell them you won't be bringing the coins back.

I have 3 supply banks and 1 dump bank.

Best of luck.

amc rulz · Oct 17, 2013

So much simpler to find a bank that does not charge fees, period.

KingTotsalot · Oct 17, 2013

The Queen has a business account with KT's bank, and I believe what you say is correct....but that is just one bank. KT has no knowledge of the situations at other banks. KT has one pickup branch and one dump branch of the same bank.

Dougmeister · Oct 17, 2013

If they don't charge fees at all, then there is probably a decently large minimum balance requirement?

amc rulz · Oct 18, 2013

Dougmeister said:
If they don't charge fees at all, then there is probably a decently large minimum balance requirement?

No, at least not in my case, I have accounts at 2 CU's, and three diff banks.

KingTotsalot · Oct 21, 2013

Dougmeister said:
If they don't charge fees at all, then there is probably a decently large minimum balance requirement?

Not at KT's bank...but a business account does have a minimum monthly fee and checks must be paid for, not free.

What's the deal: personal or business accounts?

Dougmeister

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Capt. Morgan

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DirtyRob

amc rulz

KingTotsalot

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Dougmeister

Elite Member

amc rulz

KingTotsalot

Official Tot Lot King

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