[tyfon]

Living in Europe, if this is really true then the US banking system sucks even more than I thought.

What you describe is basically a normal (northern) European bank from the sound of it.

The only difference is the interest rate, in my own bank I get lower rate until I hit a certain threshold, but it's the same account and there are no limitations on withdrawals etc. If you offer 1.6% from the first dollar than that is slightly better.

[pjc50]

Normal for consumer banks, yes. Business banking is rougher. The RBS treatment of small businesses was notorious: https://www.theguardian.com/business/2018/feb/12/confidentia...

[NeedMoreTea]

Predatory lending and fraud isn't really a feature of business banking. Predatory and fraudulent lending isn't restricted to business - though perhaps may be more lucrative. Banks do rather have the deserved reputation of lending an umbrella to ask for it back should it rain.

The bullets the GP lists were standard features of the high street business accounts I've had. Didn't care about reward points, but I don't seek those on personal accounts either. :)