[downtownfunding]

just found out from our bank that they are no longer allowing companies in our industry to bank with them. What are some banks that are friendly to funding companies? I need the ability of sending ACHs and the occasional wire

[Chambo]

Who do you (or DID you) bank with?

[Chambo]

Wells Fargo and Chase seem to be working fine

[downtownfunding]

PNC Bank

[downtownfunding]

When I was working for a funder about 4 years ago they were banking with Wells but ended up changing when there was a problem with sending ACHes. I didn't even think to consider them now. I will try to stop in there today.

[FUNd]

Chase is not ISO friendly, I can tell you that. I had to fight to get them to open an account for my LLC, after I had been a good customer on the consumer side for 10 years. They don't think very much of our space.

[AndyYSCISOdept]

I have Bank of America and TD and have never had an issue, just my personal experience though.

[downtownfunding]

I actually just went over some payoff letters for accounts we have paid off from other funders. Looks like the majority use Wells Fargo so I'll go over there today

[AndyYSCISOdept]

I actually just went over some payoff letters for accounts we have paid off from other funders. Looks like the majority use Wells Fargo so I'll go over there today

Was wondering if you made it over to Wells Fargo and if so, how did it go?

[downtownfunding]

I did make it over to wells and have been having a fine relationship with them, but in light of recent events, I would like to move. Also, Wells Fargo is a pain in the ass to send out wires. I was going to go to Chase, but people have said that they dont like our industry. Anyone have any other ideas? And no, PNC is not viable. I ran a funding company before and they terminated our account because they considered our industry to be competition.

[Oxforddan]

I use Citibank and have no issues

[Christian]

Wells is okay with drug cartel money so...

[BB_Cooper]

Chase and others institutions have compliance issues the minute they find out you are involved in any sort of syndication. Due to the potential securities issues involved, they often just pass on the business-

[cardinalequity]

Signature Bank...best bank we've ever been with bar none.

[Sean Cash]

Barney Frank is coincidentally on the board of Signature Bank

[cardinalequity]

Barney Frank is coincidentally on the board of Signature Bank

Interesting...

[Sachip24]

Signature Bank is excellent. I used to use them for a prior business I had and have nothing but good things to say. Only bad thing is they are not everywhere like most other banks. Very few locations at least here in NYC but besides that very easy to work with.