I Don't Like My Business Bank Account. Here's Why I Haven't Switched

I have a bank account for my business that I don't like for several reasons. For starters, it has a low limit for the value of checks I can deposit via the mobile app. The customer service hasn't been great. And when I needed to wire money, I had a very low daily limit for doing so without having to physically visit the bank.

Even though I've disliked the account for years, I haven't made the switch to a better bank. Here's why.

I haven't changed my business bank account for a simple reason

I haven't changed my business bank account because doing so would be a huge hassle, due to the number of other accounts that are linked to it.

If I were to switch accounts, I would need to change my payment method with all of the different companies I work for, as well as with my payroll service, the IRS which takes auto withdrawals from my account, my benefits providers, my business credit cards, all the software companies I'm subscribed with, my internet provider, and my retirement investment accounts.

While it can be a hassle to change a personal account, usually it's just a matter of updating a few account numbers with creditors you're paying bills to and with one employer. Typically, this can be done pretty quickly and by signing into your personal accounts or talking to HR.

But, with a business, more transactions going in and out, and making changes would involve filling out several different forms with a lot of other businesses and individuals.

It's simply not worth the effort involved, because even though I'm annoyed with my bank, it's not costing me money to have my account. Making a change is simply not that big of a priority to justify the time involved and the hoops I'd have to jump through.

Picking the right account from the start is important since switching banks is a hassle

Since I've been stuck with a bank account I'm not crazy about for more than a decade, I've come to realize the importance of choosing the right financial institution from the start.

The reality is, while switching a business bank account is more hassle than switching a personal account, it's never fun to deal with this process, no matter what kind of account you have. It's a time suck that involves dealing with bureaucracies and filling out forms, neither of which is anyone's idea of a good time. And it can all be avoided by taking the time to research a bank's features and policies to find an account you'd be happy to keep for the long haul.

Some of the key features to look for in bank accounts, including the best business bank accounts are:

• Bank fees like monthly maintenance fees, overdraft fees, and low balance fees
• Mobile deposit and wire transfer daily and monthly limits
• Customer service and support
• Ease of withdrawing and depositing money
• App usability and features

By researching banks carefully, you can avoid getting stuck in my situation, because you won't have to choose between going through the hugely annoying process of switching banks or coping with minor annoyances on an ongoing basis.