[yukinon]

Genuinely curious since this is definitely outside of my wheelhouse, what are the reasons why a business might choose to go with one of these startups vs a larger bank, such as Wells Fargo? And at what point does the business outgrow these small startups?

[ryanzan]

These "digital first" banks are a lot more nimble for small businesses, and have almost none of the same fees that you'd see at a larger bank. And for a lot of us that run remote businesses, we don't deal in cash and therefore, don't need access to brick-and-mortar branches (which for me, is one of the few redeeming qualities for a larger bank).

However I will say... that the Achilles heel for these newer digital banks is customer service. If they're going to lean into doing everything on the internet, they need to be investing heavily into live customer support. That's been an issue for me with several banks in the past.

[chrisczerwonka]

That's why Azlo was so great – customer service was superb!

[itsnot2020]

I have business accounts with Chase, SVB and Mercury and Mercury is definitely the best experience for what I need. I'm sure you could outgrow its services pretty easily but for now it's perfect.

Plus I like all these challengers snapping at the incumbents, have you seen the SVB app and website, even Chase put them to shame.