WaMu Online?

I am considering opening a WaMu account online for a small online sole proprietorship I am starting.

They do not have any branches or banking centers in my area, so all transactions would have to be conducted online.

They do not offer a small business checking account online, so I would have to go with a personal account and use that for operations.

Is this a good option or should I just break down and go to a more expensive bank in my area? My biggest concerns would be transferring cash from my day to day checking to this account and overall hassle not having a brick and mortar bank here.

Any additional advice would be appreciated. Thank you.

I agree with the previous answer. I have worked in a bank, in the small business deposit accounts. You should have an account with the business name on it, especially if you are going to have checks made out to the business name. I know for a fact that will WaMu may not accept a deposit with the business name on it to your personal account. Shop around the banks in your area I am sure you will find one that fits your needs.

As a bank employee, i would highly recommend going with a business account in your area. Not only for tax purposes, but for the legitimacy of the account. Something with your business name on it will allow you to deposit checks made out to the business. Things may be different in Canada, but probably not that much :) Not to mention, if and when you have a problem, you'll have to contact the phone bank, which in itself isn't that easy. They have a easier time saying no to you than a brick and mortar.

side note: Not only that, but in my personal experience, WaMU isn't the best consumer bank-- they screwed me pretty bad.