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we started at $0 revenue and $2000 initial deposit at citibank

… we started at $0 revenue and $2000 initial deposit at citibank. over the next few years we put $millions a year through them, carried a balance of $millions in combined checking and mmf, and sold our company for $millions. now my personal accounts at the bank are in $low-thousands, and my post-sale money is in investment banks. nobody from citi ever called, or cared, or said anything when i went to the branch other than one time a teller asking me what our business did because he thought we were a tech company and he really liked cloud computing stuff. i was happy to talk to him about it, and that was it. 99% of banking is boring and uneventful, it's just numbers on a screen, especially if you live in an area where big bank accounts are common (certain areas of big states like ca, tx, ny, etc.).

Original discussionMy Startup Banking Story257 source comments · at import
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A5

I founded a startup. We raised $2.5M, not all at once. We banked at SVB. It sucked. Subpar online tools. $200/mo “analysis fee,” never once had a “relationship” with anyone. Maybe we were never big enough to be relevant. That’s fair. My advice: use a retail bank until you have a few million in revenue, then shop around. Make the SVB’s of the world earn your business. SVB in particular was so incredibly entitled. I’m glad they failed more spectacularly than my little startup.

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EA

> 99% of banking is boring and uneventful, it's just numbers on a screen I wish my bankers would shut up about building a relationship, and just process these numbers. They are the car dealerships of holding money, such employees should be working on instagram not in the real economy. Human in the loop costs huge amounts of money and they only interfere. Last time after a bank transfer that required log in, login confirmation by phone, bank transfer UI access by digit card security, bank transfer confirmation by SMS… …she just called to check it was me. For $650. I wish banks would just shut up and process our money.

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My favorite experience at Citi ironically was closing my checking account. I forgot why but anyway I went to the counter and they just said, 'ok'. I put in my debit card and pin to prove identity, then showed them my license as a second form of identity, then I signed on the electronic pad and received an envelope with my balance in it. Done. No, 'Why are you leaving?' and high pressure tactics - didn't even need to go to one of the desks in the back. I'll bank again at Citi if I ever need to based solely on how easy it was to leave them.

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