Which bank(s) are the best options for a new startup corporate account, and why?

Most of the good advice I have read or heard generally says to go with a local bank or a credit union. With the major banks, like Bank of America or Citi, you're just a number (unless you've lots of money). Working with a local institution is more personal.

I am fond of credit unions, simply because they are member-owned and generally are fairly competitive for basic services.

I don't know much about handling merchant services, as that's not the type of business I do. I think warehouse clubs like Costco and Sam's Club also offer those sorts of services of business members.

It's often more important to have a local branch with good service.

PayPal is a sometimes handy as a payment option, but not fun to deal with any more than you have to.

What do you want from the banking relationship? Its really hard to answer without knowing what you want. How frequent do you expect to interact with your bank?

I think TD Bank is in your area. They are open on sunday!