I run creative services for clients on a seasonal basis on a NET90. It’s not a consistent income stream, but the payout is decent and I want to keep the financial record separate from my personal finances. I was working with a particular bank that shut down the account because it had more than three months of inactivity and a low balance once the season ended.
Is there any US bank that is tolerant with this kind of business transaction?
Most accounts I have had, have a 12 month inactivity policy…and then you can just make a small debit card payment and you’re good for another 12 months.
Look for a small hometown bank near you, one with a few branches. 10 times out of 10 they’re able to bend their policy based on the situation.
Net 90? How do you stay in business? This seems highly unusual and high risk financially.
Why not deposit and final payment due when project is completed?Any credit union.