[steadicat]

Bummed about this, but there seems to be a plethora of alternatives:

- Rho: https://rho.co/

- Mercury: https://mercury.com/

- Radius Bank: https://radiusbank.com/business/

- BlueVine: https://www.bluevine.com/

- Novo: https://banknovo.com

- Wave Money: https://www.waveapps.com/money

- Brex Cash: https://www.brex.com/product/cash-management-account/

- Wise: https://www.wise.us/

- Relay: https://relayfi.com

Now if only there were a clear way to choose one. If anyone has any tips, I'm all ears.

[itsnot2020]

I've been very happy with Mercury, possibly the most basic of offerings here compared to all the others but I haven't had any issues and they're constantly improving.

[yukinon]

Genuinely curious since this is definitely outside of my wheelhouse, what are the reasons why a business might choose to go with one of these startups vs a larger bank, such as Wells Fargo? And at what point does the business outgrow these small startups?

[ryanzan]

These "digital first" banks are a lot more nimble for small businesses, and have almost none of the same fees that you'd see at a larger bank. And for a lot of us that run remote businesses, we don't deal in cash and therefore, don't need access to brick-and-mortar branches (which for me, is one of the few redeeming qualities for a larger bank).

However I will say... that the Achilles heel for these newer digital banks is customer service. If they're going to lean into doing everything on the internet, they need to be investing heavily into live customer support. That's been an issue for me with several banks in the past.

[itsnot2020]

I have business accounts with Chase, SVB and Mercury and Mercury is definitely the best experience for what I need. I'm sure you could outgrow its services pretty easily but for now it's perfect.

Plus I like all these challengers snapping at the incumbents, have you seen the SVB app and website, even Chase put them to shame.

[brainsrgdropout]

Of the internet-only flavor, I only have experience with Axos, Azlo, and Brex... Huh, four letter banks.

Axos was super slow with set up such that half way through the process I applied to Azlo and got approved in a couple days and went with them instead. Bye.

Brex I used with my first startup beginning in 2018 (having migrated from SVB) and I loved it. There used to be a higher bar for getting an account but looks like they got rid of the $10K minimum. The rewards were pretty good and dunno if they still have it open bc pandemic but the Brex Oval Room (members only club) in South Park was a dope place to work and hang.

Based on prior experience, I'm leaning towards giving Brex a go again unless one of you can convince me otherwise.

[steadicat]

I just signed up for Brex. The application process was fast and smooth. A couple things to note:

- It looks like they use Radius Bank under the hood

- There is no Plaid support (this is almost a dealbreaker for me, as I want to use accounting tools like YNAB)