One Size Fits for Life

by Elizabeth Sherman 26. September 2012

Is Your Business in the Right Checking Account?

Recently, I got a call from a potential new customer inquiring about our business checking accounts. These calls always get my blood pumping with the anticipation that the business on the other end of the line will need every service I can offer. It can be very exciting!

In this case, the business was a startup and not expected to carry very high balances for the first year. In an attempt to put this business in the right account, I asked a few questions. How many deposits will you make each month? How many checks will you write each month? What is the anticipated average balance each month? Based on the answers, I was able to suggest an account that mirrored the needs of the customer. Okay – end of story, right?

WRONG!

The type of account that may work during the infancy stages of a business will most likely be detrimental to the business as it grows. With any luck, as the business grows, so will the volume of transactions processed through the account. It is for this reason that banks offer a multitude of business accounts. Each account offers something different, whether it’s a higher number of transactions allowed or a higher balance requirement.

It is imperative that you, as the business owner, keep an eye on your account and assess the activity that flows through the account. If you suddenly start to see service fees where there were none the month before, look at the volume of transactions. Has it increased dramatically over the months? If so, touch base with your banker to find out what options you have to upgrade to an account that will fit your growing business. The most basic business account that initially appears to be the best value could end up costing you a bundle in fees.

As a Business Banker, it is my job to sell business products, but more importantly, to bring in new business and help business owners navigate through the product jungle we call banking. I can suggest every product under the sun, but if it isn’t a good fit, I won’t have that business for long.

If you found this article helpful, be sure to check out these related articles:

I do, I do, I do...believe in my business

How to Prevent Check Fraud Scams

It's 11:00 p.m. Do You Know Where Your Money Is?

Buy Local, Bank Local

by Renee' Anderson 19. September 2012

Buy Local, Bank LocalWhether you were born and raised in Maryland or have recently joined the community, I’m sure we all agree that it is important to support Maryland businesses. Growing up in a Baltimore suburb myself, I try to do my part in helping my community flourish. WMAR-TV’s Buy Local, Buy Maryland program is a great way to help me accomplish that!

If you are looking for ways to share in this, read on!

Basically, Buy Local, Buy Maryland is a customer savings club, featuring locally owned businesses. Card holders can save money by shopping in the stores featured in the program! Your member card and key tag that will give you exclusive savings and rewards when you spend your money at the featured businesses in Maryland. Participating retailers are listed on the website, www.BuyLocalBuyMaryland.com.

1st Mariner Bank found its way to the Buy Local, Buy Maryland program as well. Being a local bank, we know that the best customer service comes from local businesses, so we jumped on the opportunity to sponsor WMAR-TV’s Buy Local, Buy Maryland program. Local businesses help create jobs, reduce environmental impact and keep our communities unique!

Not only are we sponsoring Buy Local, Buy Maryland, we have a deal of our own! Businesses, bring this flyer into your nearest 1st Mariner Bank branch to open a checking account with no application fee! View the flyer for more details.

Visit www.BuyLocalBuyMaryland.com for more information, today!

For more information about 1st Mariner Bank's sponsorships, community activities and other news, visit 1st Mariner Bank's News and Updates page.

Are You Ready for Flacco Fridays?

by Stacy Tharp 14. September 2012

 

***This Contest is Now Closed***

 

Update - 10/22/2012

The first five weeks of Flacco Fridays were a great success! We got tons of excellent quetions each week! See our Facebook page to view Joe's answers to your five most intriguing questions of each week. In order to keep things interesting, we will be changing the rules for our next series of contests. Stay tuned for details on the new rules and how to enter!

 

Do you have a question you've just been dying to ask Baltimore's Quarterback, Joe Flacco? If not, it's time to get out that notepad and brainstorming hat. On Friday, September 14th Team Flacco and 1st Mariner Bank will be kicking off "Flacco Fridays," a series of weekly Facebook contests that will run through the end of the football season.

So what's happening this week? Great question. Speaking of great questions...well, read on for a general overview:
  • Think of one question that you would like to ask Joe Flacco.
  • Visit the Joe Flacco Official Fan Page on Facebook, and post your question on the wall.
  • Team Flacco will select the top five most intriguing questions.
  • Joe will answer the top five selected questions, and those questions, along with Joe's answers will be posted on 1st Mariner Bank's Facebook page throughout the day on Friday, October 12th.
  • The person who asks the number one most intriguing question will not only get his/her question answered by Joe, he/she will also win a prize!
Exciting, huh? If you would like to participate in this contest, keep reading! Here are the nitty-gritty details:
  • Fans may submit their questions beginning Friday, October 6th through Wednesday, October 10th at 11:59 p.m. Questions must be submitted on Joe Flacco's Official Fan Page Facebook wall.
  • Joe's answers to the five most intriguing questions will be posted one at a time throughout the day on Friday, October 12th on 1st Mariner Bank's Facebook page (countdown style).
  • The number one question of the week will be the last one posted on 1st Mariner's Facebook page. The person who submitted the question must either send 1st Mariner Bank a direct message on Facebook or call 410-735-2035 to claim his/her prize.

If your question is not selected, don't fret! We will be starting from scratch the following week...and the three weeks after that (for a grand total of five weeks)! New contest, same rules.

After five weeks we will begin a brand new "Flacco Fridays" contest. Stay tuned for more details!

Tip: If you "like" Joe Flacco's and 1st Mariner Bank's Facebook page, you will get news feed alerts detailing information about each week's contest over the course of the football season.

Good luck!



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