Startup banking recommendations (good app/online experience)?

Question

I was searching on reddit and pretty much 100% of the threads are recommending a credit union. I think it is hit or miss. Plenty of credit unions have terrible online experience. In light of SVB failures and what not, what's HN's recommendation for an amazing online bank that offers checking/savings accounts for businesses? We're talking about less than $1M in cash. Where do you bank with your startup/LLC?

HoyaSaxa · Accepted Answer

There are many good banks and credit unions to choose from. I'd highly recommend going with a bank that you can easily get on the phone if/when something goes wrong.
Some specific suggestions:
[First IB](https://www.firstib.com/business/deposits/business-savings-c...) has fantastic rates and products for startups
[Grasshopper Bank](https://www.grasshopper.bank/) caters specifically to startups and saved us a lot of money vs SVB when we needed to get a letter of credit for a lease
[Twinstar Credit Union](https://www.twinstarcu.com/business/services) has a good reputation if you are looking for a credit union
Disclosure: I have a business relationship with all

arcdigital · Answer

Mercury has been pretty great for us. They use partner banks/sweep network to do up to 5M in FDIC insurance.

Sinajekim · Answer

I hear First Citizens is pretty good.