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Ask HN: Best Bank for Startups?

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11–20 of 56 posts

Re: Ask HN: Best Bank for Startups?

#11

JP Morgan Chase. They aren't sexy. They don't have a great API. They don't have a good UI. They're slow as shit to process your paperwork. Our rep calls us every time even though I have asked him to email instead. They suck in almost every single way you can imagine. But, they also tend to function like a real bank, and outside the last few months, have treated us pretty well.

I've had this same experience with Chase on my business accounts. They're boring but attentive on the customer service side.

Re: Ask HN: Best Bank for Startups?

#13
post #10

I assume you know this, but just to mention it: For issuing cards, you can use Stripe nowadays. If you're doing this as part of your business (e.g. like Expensify is doing), its available to all US based businesses: https://stripe.com/issuing The more convenient Stripe Corporate Card (which sounds like that may be your use case?) is still invite only: https://stripe.com/docs/corporate-card (I myself am queued up for…

We are also in the invite queue for the Stripe Corporate Card, but decided to make a switch as we didn't know how long the wait would be. Brex is working on features for expense reporting and authorization is what were were told. While I don't think it's on par with Expensify, maybe one day in the future it will be which will mean one less service for us to manage.

Re: Ask HN: Best Bank for Startups?

#14
post #7

(I am the CEO of Mercury.com.) Lots of people switch over from SVB to us. Happy to answer any questions you have. We go out of our way to be transparent in pricing, have great customers service and "just work". We dont currently do LoCs though. Also feel free to email me (my username AT mercury.com)

Happy Mercury customer checking in!

Re: Ask HN: Best Bank for Startups?

#16
post #7

(I am the CEO of Mercury.com.) Lots of people switch over from SVB to us. Happy to answer any questions you have. We go out of our way to be transparent in pricing, have great customers service and "just work". We dont currently do LoCs though. Also feel free to email me (my username AT mercury.com)

Mercury has been great! Used SVB at my last company and it's a big improvement.

Re: Ask HN: Best Bank for Startups?

#17
post #7

(I am the CEO of Mercury.com.) Lots of people switch over from SVB to us. Happy to answer any questions you have. We go out of our way to be transparent in pricing, have great customers service and "just work". We dont currently do LoCs though. Also feel free to email me (my username AT mercury.com)

same here. happy mercury customer. just disappointed the webapp wasn't build mobile friendly from the start. the UI is simple enough that it should've been working on mobile!

should've used a responsive CSS framework vs using css modules. recreated the wheel for not a lot of value.

Re: Ask HN: Best Bank for Startups?

#19
post #7

(I am the CEO of Mercury.com.) Lots of people switch over from SVB to us. Happy to answer any questions you have. We go out of our way to be transparent in pricing, have great customers service and "just work". We dont currently do LoCs though. Also feel free to email me (my username AT mercury.com)

What sort of interest rates do you offer for folks who are conserving cash right now? I realize interest rates are low in general, but it seems foolish to be getting literally zero from my current bank.

Re: Ask HN: Best Bank for Startups?

#20
post #7

(I am the CEO of Mercury.com.) Lots of people switch over from SVB to us. Happy to answer any questions you have. We go out of our way to be transparent in pricing, have great customers service and "just work". We dont currently do LoCs though. Also feel free to email me (my username AT mercury.com)

+1 for Mercury. Super simple signup, and great UI. Love that there's a mobile app! Real nice to have virtual cards.

Only nitpick is when my co-founders linked their bank accounts to Mercury to transfer money, Mercury displayed their personal account balances (after unlinking their accounts, their personal balances no longer showed up). I had to wire transfer since Plaid didn't work for my bank.

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