Sections of this topic
As a real estate investor, choosing the right business bank account is vital for reaching your goals. Naturally, your priorities when selecting a bank account will depend on your investment strategy.
Whether your strategy involves making numerous short-term transactions or remaining in it for the long haul, here are the best banks for real estate investment.
Featured Partner
Bluevine Business Checking
Annual Percentage Yield
2.0%
Minimum Deposit Requirement
$0
Maintenance Fee
$0
Best Business Bank Accounts for Real Estate
- Baselane – Best Overall
- Lili Banking: Empowering Small Businesses
- Bank of America – Best for Growing your Savings
- Stessa – Best for Investment Management
- Bluevine – Best for New Investors
- Axos – Best for Financing and Loans
- Relay – Best for Ease of Use
Methodology summary
Because protecting your investment is a priority, we began by evaluating the fees that each bank charges, including monthly, ATM, overdraft, and transaction fees as well as cash and check deposit fees.
We then assessed the interest rates that each bank offers as well as benefits that could also help to grow your investment, such as reward programs and credit and debit card benefits.
In addition, we also looked at factors such as lending services that you may require during your investment journey as well as online features that could make the financial management of your account easier and more efficient.
Bank
Monthly Fee
Transaction Fees
ATM Fees
Cash Deposit Fees
APY
Access to Lending Services
Online Features
$0
$0 for all ACH transfers;
2.99% outgoing rent payment fee
$0
$0
Up to 3.30%
Yes
Rent collection, Bookkeeping tools
Tenant screening
Legal document templates
$0
$2.5 for out of network
$0
$4.95 per GreenDot deposit
1.50% APY
Yes
Manage finances and payments, control expenses, and save money for taxes
$29.95 or $0 if prerequisites met
Varies depending on bank account
$0
$0 for first $20,000
Up to 0.02%
Yes
Quickbooks integration
Zelle payments
Virtual assistant
Cash flow monitor
$0
$0 for incoming wires, $5 for outgoing wires
$0 on domestic ATMs; 1% on international
$0 on domestic ATMs; 1% on international
Up to 3.85%
No
Built-in accounting software, Automated rent collection, Insurance quote system, External expense linking
$0
$0 for incoming transfers;
$0 for ACH transfers;
$15 per outgoing wire
$0
$4.95 per deposit
Up to 2.0%
Yes
Mobile banking app
Sub-accounts
Fee waived with $5,000 balance, otherwise $10
$0 for online transfers, $15 for domestic wire transfers, $50 for international
$0 (full unlimited reimbursements)
$0
Up to 1.01%
Yes
QuickBooks integration
ATM locator
$0 for Basic; $30 for Pro
Free for Pro; $5 wire fee for Basic
$0
$0
N/A
No
QuickBooks, Xero, Gusto, Plaid, and Yodlee integration
Automated bill payment with Pro
Baselane: Best Overall
5.0
If you’re a landlord or a very hands-on property investor, then Baselane has a wide range of features to make your financial management a whole lot easier. With features such as its rent collection and expense management tools, Baselane helps you automate your property management experience.
Why we chose it:
In addition to optimizing your financial management, this real estate investment account offers a range of rental-specific services to make your life as a landlord as easy as possible.
This includes tenant screening, integration with TurboTax, and access to a range of legal document templates and on-call lawyers to assist you with any questions.
By providing a balance of favorable banking terms and specialized real estate digital financial tools, Baselane earns its place as the best business bank account for real estate.
- Automated rent collection
- Auto-generated tax reports
- 3.30% APY
- Zero ACH transfer fees
- No overdraft fees
- No ATM fees
- Access to several loan options
- Up to 5% cash back
- Additional cost for online add-ons
Fees
In addition to zero monthly fees, this checking account comes with no overdraft fees and does not require a minimum opening deposit.
Baseline provides zero-fee ATM withdrawals and cash deposits at over 55,000 locations as well as unlimited free ACH transfers. Should you choose to pay your own rent with your Baselane account however, the transaction carries a 2.99% processing fee.
Interest and Benefits
Baselane offers an APY of up to 3.30%, making it one of the highest interest-yielding checking accounts in relation to comparable accounts.
When using your Baselane credit or debit card, you’ll be eligible for up to 5% cashback on purchases with eligible home improvement merchants. After $2,000 worth of purchases, this cashback amount will go down to 1%.
Online Features
Baselane’s online portal offers a rent collection tool that enables you to set automated payment reminders and late fee implementation, while providing a platform for tenants to make direct payments to your bank account.
This checking account’s bookkeeping and reporting tools include an automated consolidated ledger of all your transactions, transaction tagging to help you categorize your expenses, and auto-generate tax reports and schedule E forms to make filing taxes quicker and easier.
While Baselane’s marketplace offers access to additional features such as tenant screening, legal document templates, and TurboTax tax preparation, these add-ons come at an additional cost.
Access to Financing
Baselane offers a wide range of loan options according to the size of your property, ranging from single family to 5+ units, as well as planned unit developments and portfolio loans.
While a minimum 680 FICO is required to apply for a loan, Baselane does not require any income verification. After completing an online application, pre-approval takes about two hours while the finalization of the loan takes up to 10 business days. Loans range from $55,000 to $2 million.
Lili Banking: Empowering Small Businesses
5.0
Lili believes in leveling the playing field in this competitive world for small businesses offering tailor-made services to meet their needs. Some examples of Lili’s superb features include:
Transparent Fee Structure:
Lili Banking distinguishes itself with a fee structure that’s transparent and easy to understand. Unlike traditional banks with complex fee schedules, Lili offers fee-free banking for essential services, including no monthly maintenance fees, overdraft fees, or ATM withdrawal fees at their extensive network of ATMs. This transparency ensures small business owners can manage their finances confidently without worrying about unexpected charges.
Competitive Savings Rates:
One of the key advantages of Lili Banking is its competitive interest rates on savings accounts. Small business owners looking to grow their funds can benefit from Lili’s consistently higher interest rates, which outperform industry averages. This allows businesses to maximize their savings potential without taking on unnecessary risk, making Lili a preferred choice for those seeking optimal financial returns.
No Minimum Balance Requirements:
Lili Banking Services caters to businesses of all financial backgrounds by eliminating minimum balance requirements. Whether a business is just starting to build its savings or maintaining a substantial balance, there are no restrictions or penalties based on the account balance. This inclusive approach ensures accessibility for all businesses, regardless of their financial circumstances.
Tailored Business Banking Solutions:
Lili offers customized small business checking and savings accounts with minimal fees and competitive interest rates. These tailored banking solutions are designed to meet the unique needs of entrepreneurs, providing flexibility and convenience for effective financial management. Lili provides the right banking solution for every business entity, whether it’s a sole proprietorship, multi-member LLC, partnership, or S corporation.
Comprehensive Cash Management Tools:
In addition to banking services, Lili provides a range of cash management tools to streamline business financial processes. These tools empower businesses to optimize cash flow and make informed decisions, from expense tracking and invoicing to bill management and automatic savings. With Lili’s cash management solutions, businesses can maintain organization and control over their finances, allowing greater focus on growth and expansion.
Accessible Online Banking:
Lili offers convenient and secure online banking, enabling businesses to manage accounts, transfer funds, pay bills, deposit checks remotely, and access account details from any device. With advanced security tools, customers can trust that their financial data is always protected. Lili’s user-friendly online banking platform is designed for ease of use, providing businesses with flexibility and convenience in managing their finances online.
Comprehensive Business Offerings:
Lili provides a comprehensive range of business products and services tailored to meet the diverse needs of entrepreneurs. From business checking and savings accounts to cash management tools, invoicing solutions, and expense tracking, Lili offers everything businesses need for effective financial management. With its digital banking services, Lili is committed to supporting businesses to succeed in today’s competitive landscape.
Mobile Banking at Your Convenience:
With Lili’s robust mobile banking platform, businesses can easily manage finances. The mobile app allows for account monitoring, bill payments, fund transfers, and mobile check deposits, providing flexibility for businesses to handle banking needs wherever they are. With advanced security features integrated into the app, customers can have peace of mind knowing their financial information is protected.
Tailored Banking Packages:
Lili offers a range of business banking packages tailored to meet the specific needs of small businesses. Lili provides banking solutions to suit every business, whether it’s the premium package with advanced checking features and a metal debit card or the basic package with no minimum deposit requirements. Plus, all packages have a 30-day free trial, allowing businesses to explore options and select the best package that suits their needs.
- No fees, minimum balance requirements, or minimum opening deposit.
- Unlimited fee-free transactions.
- Fee-free ATM access through the MoneyPass network; ability to deposit cash through the Green Dot network.
- Integrated tools for managing expenses and planning for taxes.
- Offers an early payment feature with direct deposit, allowing you to receive funds up to two days sooner than you might with a traditional bank account.
- Cash deposits at Green Dot locations incur a fee of up to $4.95 per deposit.
- No checkbooks; can’t send or receive wire transfers.
- Limited business-related features, e.g., doesn’t offer joint accounts, multiple business debit cards, or third-party integrations.
Bank of America: Best for Growing your Savings
4.9
Depending on the scope of your investments, keeping track of your finances and maximizing your performance can prove challenging. Bank of America’s Business Advantage Relationship Banking account offers a full suite of digital tools to optimize your financial management.
Why we chose it:
In addition to offering a wide array of digital tools to optimize your financial management, Bank of America’s Preferred Rewards for Business are designed to boost your savings, with benefits including its interest rate booster, credit card rewards bonuses and payroll services cash back.
- Up to 75% business credit card rewards bonus
- Cash flow monitor
- Zelle payment platform
- QuickBooks accounting software integration
- Virtual financial assistant
- Loan discounts
- Free savings account
- Comparatively high monthly fee
- High requirements to qualify for Preferred Rewards for Business
Fees
The Business Advantage Relationship Banking comes with a monthly fee of $29.95, however, this fee can be waived if your accounts hold a combined average minimum balance of $15,000. Alternatively, you can become a member of Preferred Rewards for Business, however this requires a three-month combined average daily balance of $20,000.
While a relatively high monthly fee, this business checking account helps you save with zero cash deposit fees at both ATMs and cashiers for the first $20,000 and 500 free teller transactions and check deposits per month. There are also zero ATM withdrawal fees, while wire transfers may be free depending on the recipient’s bank.
Interest and Benefits
With an APY of only up to 0.02%, the Business Advantage Relationship Banking account is not the ideal small business account for those looking to build a passive income with interest. The account does, however, come with a range of money-saving benefits and rewards.
If you have a three-month combined average daily balance of $20,000, then you’ll be able to qualify for Prefered Rewards for Business. This program entitles you to a rewards bonus between 25% and 75% on your credit card, cash back on payroll services provided by Bank of America and discounts on interest rates on loans.
Using Preferred Rewards for Business, you have the opportunity to receive an interest rate boost of 5% to 20% on Business Advantage Savings accounts. Even if you do not have Preferred Rewards for Business, opening a savings account with Bank of America is free.
Online Features
Bank of America offers QuickBooks integration, thereby helping you to keep your accounting up to date and ensure that you don’t leave out any transactions. There is also a cash flow monitor designed to help you monitor your costs and even categorize your costs so that you can understand where your money is going.
The cash flow monitor also includes cash flow projections, thereby helping you to plan your financial activities in advance while Erica, Bank of America’s virtual financial assistant, can help you to transfer or send money and search transactions. This account also comes with a virtual debit card that you can use via the banking app in place of a physical card.
Access to Financing
For Business Advantage Relationship Banking account holders, there are two credit lines that you can apply for. The Unsecured Business Line of Credit provides you with collateral-free loans starting at $10,000. With interest rates starting at 8.75%, this rate can be lowered if you have Prefered Rewards for Business.
This same interest rate discount can be applied to the Secured Business Line of Credit, which offers loans starting at $25,000 with interest rates of 8% upwards.
Stessa: Best for Investment Management
4.9
With its purpose-built landlord accounting software designed to automate your property accounting and its automatic rent collection system, Stessa is designed to optimize the management of your real estate investment.
Why we chose it:
In addition to helping you reach maximum financial management efficiency, Stessa also offers features aimed at protecting your investment, including a tenant screening service and an insurance quote generator to help you save money on your landlord insurance policy.
This account also offers up to 3.85% interest and cash back on its debit card to help you increase your savings.
- Up to 3.85% APY
- 1.1% cash back on debit card purchases
- Automated accounting and expense tracking
- Performance dashboards at portfolio and property levels
- Tree rental applications
- Tenant screening
- Automated rent collection
- A fintech company; not a bank
- No in-house financing options
Fees
In addition to zero monthly fees, Stessa also has zero domestic ATM transaction fees. International ATM transaction fees are 1% of the transaction value. Stessa warns, however, that the owner of the ATM may charge their own fee.
While inbound wire transfers are free, outbound wires cost $5 per transaction. Also, outbound wires must be a minimum of $100. International wire transfers are not offered by Stessa.
Interest and Benefits
With an APY of up to 3.85%, Stessa provides the most high-yield business checking account on this list. What’s more, this account offers 1.1% cash back on all debit card transactions excluding money orders and loan repayments.
Online Features
Stessa’s accounting software is specifically designed with landlords in mind, offering automated expense tracking and importing, categorization, and indexing of both transactions from your Stessa account and external bank accounts and cards so that you don’t have to. What’s more, Stessa offers performance dashboards for both your entire portfolio and individual properties while also organizing your finances so that they’re ready to be submitted for tax purposes.
Finances aside, Stessa makes daily property management easier with its automated rent collection system and tenant screening platform. Stessa’s landlord insurance quotes will help you to obtain better terms on your current policy or find a more favorable alternative.
Access to Financing
As stated on the website, Stessa is a financial technology company; not a bank. With the company’s banking services operated by Blue Ridge Bank N.A, Stessa itself does not offer loans.
Bluevine: Best for New Investors
4.8
If you’re just getting started in the real estate investment game, then the Bluevine Business Checking account is certainly worth a look. With minimal fees, fast loan applications and comparatively decent interest rates for a business checking account, Bluevine makes it easy to get started.
Why we chose it: This bank’s fast and easy application process as well as its comparatively low fees make it easy for new investors to get started.
What’s more, Bluevine has no overdraft fees or minimum balances, making it a low-risk bank account for new account holders who are yet to reap the rewards of their investments.
- No monthly maintenance fees
- No in-network ATM fees
- No minimum balance
- No overdraft fees
- Zero ACH transfer fees
- Loan approval in 24 hours
- APY declines for accounts exceeding $100,000
- No international wire transfers
Fees
In addition to zero monthly maintenance fees, Bluevine Business Checking has no ACH wire fees nor incoming wire fees, making it ideal if you need to conduct a high volume of transactions each month. Furthermore, this business bank account comes with no in-network ATM fees.
Bluevine requires no minimum deposit and also has no overdraft fees, making it a low-risk checking account for new investors who are unsure of their business success. It is important to bear in mind, however, that cash deposits from designated retail locations cost $4.95 per transaction.
Interest and Benefits
Bluevine offers an APY of up to 2.0%, however account holders must either spend at least $500 per month on their Bluevine debit card or receive $2,500 per month in customer payments to benefit from the full interest rate.
Also important to note is that this interest rate only applies to accounts holding up to $100,000, meaning that this checking account is more suitable for real estate investors with lower earnings.
Online Features
Bluevine’s online banking platform and mobile app provide a sub-account feature that enables you to open up to five sub-accounts, all of which are eligible to receive an APY of up to 2.0% under the same terms as mentioned above.
This feature enables you to divide funds among your properties to prevent you from getting confused by a wave of incoming expenses. What’s more, you can determine exactly what accounts are billed by which vendors, making payments easier.
Access to Financing
This business checking account offers credit lines of up to $250,000 at rates starting at 6.2%. To be eligible for such business loans, however, you have to have been in business for at least 24 months, make at least $40,000 in monthly revenue and have a 625+ FICO score.
Should you meet these requirements, then you can apply online and receive a decision in as little as five minutes. What’s beneficial about Bluevine’s credit lines is that you only have to repay the funds that you make use of and there are no fees for opening, maintaining, prepayment, or account closure.
Axos Bank: Best for Financing and Loans
4.7
No matter the scope of your real estate investing, Axos Bank offers a wide range of financing options to cater to your specific needs.
From small balance lending such as apartment loans and offices to construction loans for major projects including industrial and hospitality complexes, this bank is ideal for investors who are looking to finance their future growth.
Why we chose it:
Aside from this bank’s diverse range of loans, the Axos Small Business Interest Checking account offers a modest APY to help you grow your investments while keeping fees low.
This internet bank has also received warm customer reviews due to the usability and intuitiveness of its mobile app.
- $200 welcome bonus
- Visa debit card with benefits upon sign up
- Free debit card transactions
- $5,000 minimum balance required to waive monthly fee
- No online financial management tools
Fees
So long as you maintain a minimum average daily balance of $5,000, you won’t have to pay monthly maintenance fees. Otherwise, the monthly fee is $10.
The Small Business Interest Checking account offers unlimited ATM reimbursements at in-network ATMs, meaning that you’ll receive money back on all ATM transactions. To help you make use of the benefit, the Axos Bank website and mobile app offers an ATM locator to show you participating ATMs near you. While Axos Bank requires a $100 minimum deposit, it has no overdraft fees and online transfer fees.
Axos Bank charges $15 per outgoing domestic wire transfer and $50 for international wire transfers.
Interest and Benefits
The Small Business Interest Checking account offers a respectable APY of 1.01% for accounts holding up to $49,999.99, however this rate drops to 0.20% for accounts with higher balances.
Axos Bank offers a $200 welcome bonus upon opening an account while providing account holders with a complimentary Visa debit card with enhanced benefits, including NortonLifeLock to protect you against identity theft and Dovly; a credit management platform to help you boost your credit score.
Online Features
Axos Bank’s online platform and mobile banking app come with QuickBooks integration, meaning that you can keep your account transactions synchronized with your accounting statements.
While Axos does not provide financial management or real estate-specific tools on its digital platforms, it does offer access to external business services aimed at helping you manage your investment, such as payment and billing services from Celero and Treasury Management from the bank itself.
Access to Financing
With loans ranging in amount from $75,000 to $100 million, Axos provides a range of financing solutions specific to real estate investing.
The bank’s Commercial Real Estate Specialty Bridge and Construction Lending focuses on providing loans for construction, renovations, or during the process of finding tenants or closing a sale, from small-scale properties such as condominiums and offices to large scale industrial, warehouse and retail projects.
Axos Bank’s Small Balance Commercial Real Estate loans are aimed at providing flexible, cost-effective loans for smaller real estate projects such as multi-family units, student housing, and mobile home parks.
Relay: Best for Ease of Use
4.6
With customers praising its user-friendly interface, Relay is an easy-to-use checking account that enables you to focus less on administrative tasks and more on your real estate investment.
What’s more, opening an account takes just a few minutes and requires no minimum opening deposit on your part.
Why we chose it: Relay’s Accounts Payable feature in the Pro version allows you to pay all of your bills directly from the Relay online platform while all versions have integrations with popular accounting software such as Xero and QuickBooks, thereby enabling you to continue using the tools that you’re familiar with.
- Create up to 20 checking accounts
- Integration with Xero and QuickBooks
- Free ACH transfers
- Zero ATM fees at AllPoint ATMs
- Complementary bi-weekly webinars on financial management
- Accounts Payable only available through Relay Pro
- No loan or financing options
- No interest or rewards programs
Fees
Relay proves to be an affordable internet bank, charging no overdraft fees, ACH fees, nor incoming wire transfer fees no matter which account you open. Both cash deposits and withdrawals at ATMs are free, so long as the machine is a part of the AllPoint ATM network.
While there are no monthly maintenance fees for the basic checking account, the Relay Pro account costs $30 per month. The Pro version comes with free outgoing wire transfers, while the charge for the basic account is $5 per transaction.
Interest and Benefits
Relay’s main shortfall is that neither of its checking accounts offer an APY. With no credit card rewards or other benefits, this is not the ideal bank account for investors who are aiming to grow their savings by earning interest or rewards.
Online Features
Relay’s simple online banking platform enables you to open up to 20 checking accounts, thereby enabling you to sort your expenses and seamlessly transfer funds between accounts. It also allows you to send ACH transfers and wires automatically, making bill payment easier.
The major online appeal of this checking account is its numerous app integrations, including bookkeeping software QuickBooks and Xero as well as back office software including Gusto, Plaid, and Yodlee. As a result, you’ll be able to continue working with platforms that you are familiar with.
If you’re willing to pay the $30 monthly fee for Relay Pro, you’ll receive access to Accounts Payable; a tool that enables you to make same-day ACH and wire transfer as well as automated bill payments.
Access to Financing
As Relay explains on its website, it is a financial technology company and not a bank. As a result of its different business model, it lacks the financing options of a traditional bank.
Methodology for the Best Business Bank Accounts for Real Estate
- Fees: In addition to regular business expenses, bank fees are also costs that limit your investment’s profit margins. Because such fees are often unavoidable and reoccur on a regular basis, we searched for bank accounts with comparatively low fees.
- Interest and Benefits: While your investment’s growth may be primarily driven by your properties’ performance, earning interest in your account can passively help to supplement your savings. Benefits such as cash back and credit card rewards can also help to reduce your spending.
- Online Features: Financial management and other administrative tasks can be time consuming, while biting into the time you spend on managing your investment. That is why we considered checking accounts that offer digital tools to optimize your financial and investment management, thereby saving you time and maximizing performance.
- Access to Financing: given the long-term nature and large scope of real estate investments, access to loans and credit lines may play an important role in financing your projects if you don’t have enough cash of your own on hand.
Real Estate Bank Account Frequently Asked Questions (FAQs)
Are you still unsure about whether or not opening a business checking account for your real investment is the right move for you? Here are the answers to some of the most common questions that could help you determine whether a real estate business bank account is right for you!
Bottom Line
No matter your investment size and whether you’re a new or experienced investor, there’s a real estate bank account that will be sure to meet your needs. In order to decide where to open a bank account, you’ll need to first determine what benefit is most important for you.
As a real estate-focused bank account with specialized property management tools and good banking terms, Baselane has emerged as the number one choice business bank account for real estate thanks to its benefits across the board. Still, each of the bank accounts included on this list may prove to be ideal depending on the perks that you’re after.
Best Business Bank Accounts by State
Below you will find an interactive U.S map that can help you locate and compare different banks and financial institutions that offer business accounts in your area.
