I was sure a local credit union was the only way to go for my business account

For the last 8 months I had my small plumbing company's account at a big national bank, but kept hearing how credit unions were better for small businesses. I finally switched to a local one here in Tacoma 3 weeks ago. Honestly, it's been a hassle. Their mobile app is slow, and I had a check from a client for $1,850 take 4 full business days to clear. I thought the lower fees would make up for it, but the lost time is a real cost. Has anyone else moved their business banking and regretted it?

2 comments

2 Comments

webb.linda11h ago

Tbh, what's your time worth though? I've saved so much on fees that the slower app is just a minor thing for me.

webb.victor9h ago

That four day hold on your check is exactly why I stayed with my big bank in Seattle. My time trying to fix slow tech or waiting for money is a real business cost that eats up any fee savings. How much is your own time worth when you could be on a job instead of dealing with their app? Sometimes the easy, fast option is the right one even if it costs a few more dollars a month.