Good current account for an 8 unit co-op?

Oh that’s not going to be practical. Oh well sounded like agood idea!

dawnc

in Architectural Salvage 12 years and 2 months ago

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dawnc | 12 years and 3 months ago

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We are a self managed co-op looking to move our regular banking to a bank that will allow us to collect and pay our maintenance and bills electronically. Our current bank insists we collect and deposit all checks by hand-tedious! We’d like to link it to a savings account too. Any recommendations? thanks!

ejalbk | 12 years and 3 months ago

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You can get a check scanner. They run about $50/month which is probably not cost-effective for an 8 unit co-op, but if the manager really hates going to the bank or an ATM, it’s one way to make the deposits easily.

dawnc | 12 years and 3 months ago

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Thanks. Yes that wouldn’t be cost effective for our little set up but were probably shopping around for another bank anyway. Is it universal for maintenance cheques to have to be paid in by hand then? We assumed there must be a way of having everyone pay electronically into one account but maybe thats not the case?

reader718 | 12 years and 3 months ago

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Could you do one of the accounts with Citibank that you lets photograph the checks with your smartphone for deposit?   I think I saw an add with Citi’s name on it that has a this feature.

dawnc | 12 years and 3 months ago

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Now theres something worth looking in to! Thanks for the suggestion!