Went with a local credit union over a national bank for my business account, regretting it now

I needed a business checking account about 4 months ago and chose a local credit union because their fees were lower. They said I'd have online banking that works just like the big guys do. But their platform crashes every time I try to deposit a check over $2,000 from my phone. Now I'm stuck waiting 3 business days for checks to clear that would have been instant at a regular bank. Has anyone else switched from a credit union back to a big bank and dealt with similar issues?

3 comments

3 Comments

verac406d ago

Local credit unions CAN be great for personal stuff but business banking is a completely Different beast. Their tech infrastructure just isnt built for the volume and speed businesses need, especially with mobile deposits over a couple grand. I had the exact same problem with check holds and app crashes, switched to a regional bank that has actual business specialists and it made a world of difference. The lower fees dont mean much when youre getting hit with late payment penalties from suppliers.

the_joseph7d ago

Tried to deposit a $3,000 check through their app last week and it froze so bad I had to restart my phone. Made me miss a vendor payment deadline and they charged me a late fee anyway.

the_abby6d ago

Dude same thing happened to me with a rent check and they wouldn't waive the fee either lmao