What kind of bank account should a start-up open?

Kruze Consulting Startup Q&A Author
Vanessa Kruze Founder, CPA

As a CPA who works exclusively with funded startups, I see our founders either loving or struggling with their bank. Since cash is the life blood of an early-stage company, the banking relationship actually matters. In fact, only a few banks “get” the startup market - most banks are used to working with cashflow positive small businesses, not seed or venture funded companies who are going to burn cash for the foreseeable future.

Here are the best banks for startups:

  • Silicon Valley Bank
  • First Republic

That’s it from a banking/checking perspective. We’ve also got some pretty solid opinions on how to make your company the most efficient, and how to make your startup’s accounting simple and clean (so you can focus on growing the company and not debits and credits!) We’ve actually broken down the top credit cards for funded companies here. And below are some other systems that we strongly recommend.

  • Credit Card for Company Expenses = Brex
  • Expense Software = Expensify
  • Bill Payments (AP) = Bill.com
  • Payment Processor = Stripe

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