More and more banks are getting into factoring, and it may seem as if banks are giving factors a run for their money, but the fact remains that they are an FDIC regulated institution with tight restrictions, and therefore cannot be as competitive as a factor in many situations. It is likely that if you go to your local banking branch and ask the manager about their factoring services, the branch manager would not know what you are talking about.
Why waste time with tight restrictions? If you need factoring, going to a factor should be the best bet. But like everything else, shop around and once you have the best quote, work with it, factors want your business, and they will try to beat the other guys offer. Factors offer a simple qualifying process and quick funding.