Advanta Bank Corp. Corporate Money Market Account
I’ve written about the few options corporations have for decent interest rates in savings accounts and money market accounts. The two main choices are PayPal and Advanta Bank Corp.. I finally signed up for an Advanta Bank Corp. account!
To comply with the USA Patriot Act, they require a bit of paperwork (much more than PayPal). Once I was done with that, they sent me some checks as well as my first account statement and some deposit slips. I tried to sign up for online banking, but to my surprise and disappointment, they don’t offer online banking to corporations! I did speak with Richard who informed me that online banking for corporations is something they are working on.
In the meantime, I’ll be able to mail deposits, write checks, and initiate transfers via PayPal. That isn’t a bad setup but I definitely would have preferred access to online banking.
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