Sadly, Savings Institute Bank and Trust is no more. A lot of you bank with SI because we’ve recommended it for the whole 20+ years we’ve been in business – and they really have been a great low-cost trouble-free bank offering great customer service.
Now it’s Berkshire Bank and it sounds like it’s going to be messy. If you have vendor payments set up, stay on top of it to make sure your payments aren’t late. If you have customers depositing payments to your account, be prepared in case there are interruptions in your cash flow. This transfer of your money and control over your accounts to Berkshire is going to require a fair amount of your time.
We just moved to KeyBank. Of the banks used by clients for whom we’ve set up QuickBooks links and performed other banking operations, we’ve had smooth sailing with KeyBank. Their mobile deposit function is great in that they tell you instantly if the image is acceptable so there’s no trying repeatedly to get an acceptable image.
If you find you’re not able to confidently manage your funds, and the disruption is costing you too much time and money moving to another bank is always an option.
