Small Businesses are Cheating Themselves with Old School Banking

Too often, banks limit services to transactional activities. Small businesses need banking that caters to their needs and not the institution’s.

  • AVERAGE FEES (MONTHLY)
    $20 - $25
  • UNNECESSARY EXPENDITURE (YEARLY)
    $240 - $300

Invest in Yourself

You’re the most important asset. Why not use that extra money for yourself? Take a class or book a flight!

  • 46% of banks don’t offer small businesses an intuitive, simple bank app

  • 65% don’t offer phone and app instant messaging

  • 77% don’t offer cashflow reporting or insights

  • 76% of small businesses do not receive valuable business advice from their banks

  • 59% state that the people inside their bank don’t even know their name

  • 35% of banks do not go above and beyond with their customer service

Be Smart From the Start

  • 1

    Manage Your Money

    Avoid monthly maintenance fees and select a partner who offers transaction services like bill pay for free. This will help keep cash in your pocket, instead of the bank’s.

  • 2

    Make It Personal

    Find a partner that combines the best of both worlds – an innovative mobile app and multiple communications channels that work for you.

  • 3

    Get the Most Out of Your Banking Relationship

    Too often, small businesses are tossed into the consumer category at banks because they’re considered risky or not lucrative enough. Smaller community banks can’t prioritize the needs of these businesses because of the cost. Seek a partner who is available 24/7 with advice, tools, and business insights to help you grow.

Source: Seed Researchscape study; September 2017