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Thanks for asking this. I am in a similar situation.

I already have a strong relationship with a local bank that I use for my personal accounts and my other business. After reading the comments here, I guess I will stick with that plan.

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100% this. The little interest/dividend you might be able to squeeze out of $200k is by no means worth any of the hassle when you should be focusing 24/7 on your business.

More time than I can count at my last startup, our personal relationship with an actual live human at the bank saved our bacon when stupid bank bullshit strikes (i.e. big check from client comes but the bank automatically freezes the money for some interminable time period, etc.) I highly recommend business banking with people who know you. You can do specialty stuff with specialty bank later, when it's warranted. Right now you just need a business checking account. (And it sounds like you could use payroll, too.)

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