The best banks for real estate investors should provide both excellent business bank accounts and commercial real estate (CRE) lending. They should also offer business support services, including expense management systems and rent collection services. Banks with no lending products or limited lending offerings should have banking products and other services that can assist both landlords and fix-and-flip investors.
Here are my choices for the eight best banks for real estate investors (REI), with links directly to the bank’s websites:
- Baselane Provider is a financial technology (fintech) platform backed by and Federal Deposit Insurance Corp. (FDIC)-insured through a supporting bank partnership with Thread Bank, Member FDIC. : Best overall for all-in-one landlord and REI banking with CRE loan products
- Bluevine Provider is a financial technology (fintech) platform backed by and Federal Deposit Insurance Corp. (FDIC)-insured through a supporting bank partnership with Coastal Community Bank, Member FDIC. : Best small business line of credit with interest-earning checking
- Stessa Provider is a financial technology (fintech) platform backed by and Federal Deposit Insurance Corp. (FDIC)-insured through a supporting bank partnership with Blue Ridge Bank N.A., Member FDIC. : Best for online rent collection with banking product
- Bank of America Member FDIC. : Best for outstanding business checking, support, and CRE loans
- Chase Member FDIC. : Best for wide range of CRE loans, business checking, and credit cards
- U.S. Bank Member FDIC. : Best for long-term owner-occupied CRE loans
- Grasshopper Member FDIC. : Best for SBA lending solution and uncapped APY on checking
- Relay Provider is a financial technology (fintech) platform backed by and Federal Deposit Insurance Corp. (FDIC)-insured through a supporting bank partnership with Thread Bank, Member FDIC. : Best for cash flow management and team collaboration tools
Best Banks for Real Estate Investors at a Glance
Checking Account | Monthly Fee | Free Monthly Transactions | Annual Percentage Yield (APY) | Monthly Free Cash Deposit Limit | |
|---|---|---|---|---|---|
 | Landlord Banking | None | Unlimited | Up to 3.77% | |
 | Bluevine Standard | None | Unlimited | ||
 | Cash Management | Unlimited | N/A | ||
 | Business Advantage Fundamentals Banking | $16; waivable | 200 | N/A | $7,500 |
 | Business Complete Banking | $15; waivable | 20 | N/A | $5,000 |
 | Silver Business Checking | None | 125 | N/A | $2,500 |
 | Accelerator Business Checking | None | Unlimited | Up to 1.80% | N/A |
 | Relay Business Checking | None | Unlimited | N/A | |
Loan Amounts | Interest Rates | Loan Terms | Minimum Time in Business | Minimum Annual Revenue | |
|---|---|---|---|---|---|
| $100,000 to $5 million | Varies per provider | Up to 30 years | Undisclosed | No income verification |
| Up to $250,000 | As low as 7.8% | 6 or 12 months | 12-plus months | $120,000 |
| No loan products | N/A | N/A | N/A | N/A |
| $25,000 and up | As low as 6.50% | Up to 15 years | 2 years | $250,000 |
| $50,000 and up | Undisclosed | Up to 25 years | Undisclosed; likely 2 years | Undisclosed |
| Up to $12.375 million | As low as 8.99% | Up to 25 years | Generally 2 years | Undisclosed |
 | Up to $5 million | Rates from WSJ Prime, plus 2 to 3% | Up to 25 years | Generally 2 years | Undisclosed |
| No loan products | N/A | N/A | N/A | N/A |
Baselane: Best Overall for All-in-One Landlord & REI Banking With CRE Loan Products
What We Like
- Competitive APY
- No monthly fees or automated clearing house (ACH) fees
- Up to 5% cash back debit rewards
Drawbacks
- No physical branches
- Doesn't offer money market, CDs, or credit cards
- Cash deposits at Allpoint ATMs only
Features
- No monthly fees or minimum balances
- Can create an account in less than a minute
- Unlimited virtual accounts to stay organized
- Up to 5% cash back debit rewards
- Virtual cards to control and manage spending
- Send ACH payments, pay invoices, make transfers, and deposit checks from any device
- Free domestic wires and free unlimited ACH payments to third parties
- See all property finances in one place
- Integration with rent collection and bookkeeping for a true all-in-one system
- Free ATM withdrawals and cash deposits at over 55,000 Allpoint ATMs
- Single-click, smart categorization with Schedule E and property tags to help with tax preparation
 | |
|---|---|
Required Opening Deposit | None |
Required Balance Minimum | None |
Transaction Limit Before Fees | Unlimited |
Monthly Fees | None |
Domestic Wire Transfer Fees | None |
International Wire Transfer Fees | Not indicated |
ATM Fees | Free withdrawals at more than 55,000 Allpoint ATMs; third-party fees apply at out-of-network ATMs |
Cash Deposited | Deposit at Allpoint ATMs only |
APY | Up to 3.77% |
Other Products Available | Expense management, rent collection, and analytics |
*Baselane is a business fintech platform backed by FDIC-insured Thread Bank, Member FDIC. | |
Loan Amounts | $100,000 to $5 million |
Interest Rates | Varies by provider |
Loan Terms | Up to 30 years |
Minimum Time in Business | Undisclosed |
Minimum Annual Revenue | No income verification |
Loan Types |
|
When to Choose Baselane
- Landlords and real estate investors wanting an all-in-one banking and financial platform: Baselane offers a business checking product with no fees, including free domestic wires and ACH payments to third parties. You get unlimited virtual accounts and virtual cards, allowing for better expense tracking and finance organization.
- Businesses seeking an excellent integrated rent collection and bookkeeping solution: The banking product ties directly into the company’s free online rent collection system, bookkeeping, and analytics software. Send ACH payments, pay invoices, make transfers, and deposit checks from any device, and see all your property finances in one location.
- Customers looking for a great sign-up bonus and excellent APY: You can earn a $150 bonus for opening a new account if you fund the account and collect rent. Baselane offers up to 3.77% APY on all deposits to your account.
- Those needing a CRE loan: Through Baselane’s partner, Simplist, the bank offers CRE loan products that range from $100,000 to $5 million for up to 30 years. It provides conventional rental property loans, asset-backed rental property loans (commonly known as debt service coverage ratio (DSCR) loans), portfolio loans, and hard money loans for quick financing of fix-and-flip projects.
When to Choose an Alternative
- You need a physical location for banking: Baselane is digital-only, so you need to visit its website to open an account. However, of all the specialized banking products for landlords and real estate investors, it is the best option on the market and rivals traditional banks. If you prefer a physical location, Bank of America and Chase are excellent alternatives.
Bluevine: Best Small Business Line of Credit With Interest-earning Checking
What We Like
- $300 sign-up bonus for new business checking account holders (use referral code: FSM300) How to earn the bonus: To earn the $300 bonus, customers must apply for a Bluevine Business Checking account anytime between now and 12/31/2024 using the referral code above. After opening the account, customers must add funds within 30 days, then meet at least one of the following eligibility requirements every 30 days for the next 90 days from account funding: Deposit at least $5,000 from eligible merchant services to your Bluevine account, Make at least $5,000 of outbound payroll payments from your Bluevine account using eligible payroll providers, or Spend at least $2,000 with your Bluevine Business Debit Mastercard® and/or Bluevine Business Cashback Mastercard®
- No monthly fees
- Excellent line of credit product
- High interest rate for qualified account holders
Drawbacks
- Fee for depositing cash
- No other business deposit accounts
- No physical branch locations
Features
- Free debit card, mailed within 10 business days of application approval
- Three interest-bearing checking options
- Five subaccounts
- International business payment services
- Reduced standard payment fees for premium plans
- Two free checkbook orders per year
- Integrates with QuickBooks and Xero
- Connects with business payment solutions, including Wise, Venmo, and Expensify
- Live customer support from dedicated professionals
- Line of credit and credit card also available
 | |
|---|---|
Required Opening Deposit | None |
Required Balance Minimum | None |
Transaction Limit Before Fees | Unlimited |
ACH Fees | None |
Monthly Fees | None |
Domestic Wire Transfer Fees | $15 for outgoing; $0 for incoming |
International Wire Transfer Fees | $25 for outgoing (USD); $25 plus 1.5% for outgoing (FX); N/A for incoming |
ATM Fees | None at MoneyPass locations nationally; $2.50 plus operator fees for non-network ATM use |
Cash Deposited |
|
APY | 1.5% on qualifying balances up to $250,000 |
Other Products Available | Line of credit and credit card also available |
Review | |
Bluevine is a business fintech platform backed by FDIC-insured Coastal Community Bank. | |
Loan Amounts | Up to $250,000 |
Interest Rates | As low as 7.8% |
Loan Terms | 6 or 12 months |
Minimum Time in Business | 12+ months |
Minimum Annual Revenue | $120,000 ($10,000 monthly) |
Loan Types | Bluevine only offers a small business line of credit. However, it is our choice for the best small business line of credit on the market. A blanket uniform commercial code (UCC) filing is required, along with a personal guarantee, with funding available as soon as the same business day. |
When to Choose Bluevine
- You want to earn interest on your business checking: Bluevine Standard earns 1.5% APY on all balances up to $250,000, so real estate investors can draw interest on funds from a sold property while preparing to purchase their next project.
- Real estate investors who need a business line of credit: In addition to its excellent checking product, it provides a business line of credit of up to $250,000 at rates as low as 7.8%. Draws against the line of credit can be paid back in six- or 12-month terms, and you only pay interest on the amount of the line of credit used. That’s why Bluevine has the best small business line of credit on the market.
- You need an online bank with great software integrations: Bluevine has great software integrations with QuickBooks and Xero and connects with popular business payment solutions, such as Wise, Venmo, and Expensify.
When to Choose an Alternative
- Business owners who want to deposit cash without a fee: Although Bluevine allows cash deposits, you will be charged $4.95 per deposit at Green Dot retail locations and $1 plus 0.5% of the deposit when you transact at Allpoint+ ATMs. Consider Bank of America’s starter account, which gives a fee-free $7,500 cash deposit allowance each month.
Stessa: Best for Online Rent Collection With Banking Product
What We Like
- High-yield APY and 1.1% cashback
- No monthly fees (Essentials plan)
- No minimum balance required
Drawbacks
- No cash deposits accepted
- No physical branch
- No loan products
Features
- All-in-one cash management system
- No monthly maintenance fees
- No minimum balance requirements
- No inbound wire fees
- Benefits to help manage and grow rental portfolios
- Unlimited free accounts for each property or portfolio
- Unique virtual and physical debit card numbers for easier record-keeping
- Built-in expense management
- 1.1% cash back on debit card purchases
 | |
|---|---|
Required Opening Deposit | None |
Required Balance Minimum | None |
Transaction Limit Before Fees | Unlimited |
Monthly Fees | $0 for Essentials, $12 per month Manage Plan, and $28 per month Pro Plan |
Domestic Wire Transfer Fees | $5 for outgoing; $0 for inbound |
International Wire Transfer Fees | Not supported |
ATM Fees | Stessa doesn’t charge ATM fees, but operator fees may apply |
Cash Deposited | Cash deposits not accepted |
APY | 3.14% Essentials (free) 5.09% Pro (paid plan) |
Other Products Available | Online rent collection and expense management |
*Stessa is a business fintech platform backed by FDIC-insured Blue Ridge Bank, N.A. | |
Note: Stessa does not offer any loan products.
When to Choose Stessa
- You want an integrated cash management system and online rent collection product: Similar to Baselane, Stessa offers a built-in cash management system and online rent collection product that make it a strong choice for real estate investors.
- Landlords and real estate investors who need fee-free, interest-earning banking: Stessa’s business banking product is largely fee-free, with only a $5 fee charged for outgoing domestic wires. Stessa’s free and mid-tier accounts earn up to 3.14% APY, and if you upgrade to the premium Stessa Pro, you can earn up to 5.09% APY.
- You seek additional banking perks to help grow your REI business: As part of its cash management system, Stessa offers benefits to help manage and grow rental portfolios. It also offers unlimited free accounts for each property or portfolio, and you will receive unique numbers for physical and virtual debit cards, allowing you to track expenditures easily.
Baselane and Stessa are two popular property management software designed for real estate investors and landlords. You may be interested in comparing how each stacks up against the other. Check out our comparison guide, Baselane vs Stessa business checking.
When to Choose an Alternative
- You need lending products: Unlike the other options on this list, Stessa doesn’t offer lending products. You should choose Baselane, Bank of America, or Chase if you need lending products from the same provider as your business checking.
Bank of America: Best for Outstanding Business Checking, Support & CRE Loans
What We Like
- 200 free transactions per month
- Free digital tools to track business performance
- Ongoing rewards
Drawbacks
- Cash deposit fees charged per $100 over monthly allowance
- Doesn’t offer ATM fee reimbursements
- Requires a $100 opening deposit
Features
- Deposit checks, view accounts, make transfers, and pay bills with the mobile app
- Credit card processing and payroll services through ADP
- Cash Flow Monitor®, a cash management tool, lets you connect accounting, analytics, and payroll apps to help you make business decisions
- Allows you to check your business credit score through a partnership with Dun & Bradstreet
- Free debit card
- Integrations with QuickBooks and Zelle®
- Customer service during business hours in branch and via phone or social media messages
- Merchant services available through Expensify
- Other products include business savings, certificates of deposits (CDs), lending products, and financial analysis through Merrill Financial Advisor
 | |
|---|---|
Required Opening Deposit | $100 |
Required Balance Minimum | None |
Transaction Limit Before Fees | 200 monthly, then 45 cents per item |
Monthly Fees | $16; waivable if conditions are met |
Domestic Wire Transfer Fees | Fees vary |
International Wire Transfer Fees | Fees vary |
ATM Fees | Free access to more than 16,000 ATMs nationwide; $2.50 per transaction on out-of-network ATMs |
Cash Deposited | Up to $7,500 per month free, then 30 cents per $100, per statement cycle |
APY | N/A |
Other Products Available | Business Advantage Relationship Banking, business savings, CDs, lending products, and financial analysis through Merrill financial advisor |
Review |
Loan Amounts | $25,000 and up |
Interest Rates | As low as 6.50%; varies per loan product |
Loan Terms | Up to 15 years; varies per loan product |
Minimum Time In Business | 2 years |
Minimum Annual Revenue | $250,000 |
Loan Types |
|
When to Choose Bank of America
- Real estate investors seeking excellent full-service banking from a traditional bank: Bank of America offers great business checking, outstanding business support products, and several CRE loan products. It has one of the best small business checking accounts available and is among the leading banks for small business loans.
- Customers looking for scalable business checking products: Bank of America has two business checking accounts with waivable monthly fees. Its basic tier, Business Advantage Fundamentals Banking, allows 200 free transactions and up to $7,500 free cash deposits each month. The monthly fee of $16 can be waived in many ways.
- Real estate investors needing loans and access to business credit score: Bank of America offers CRE loans, lines of credit, term loans, and Small Business Administration (SBA) loans. You can get your Dun & Bradstreet credit score for free if you have a business checking account. Bank of America business credit cards are also available.
When to Choose an Alternative
- Customers who prefer to earn interest from their checking accounts: Bank of America’s checking products do not provide APY earnings. You can opt for Bluevine, which offers three checking options that draw high interest rates. The fee-free Bluevine Standard gives a 2.0% APY for qualifying deposits.
Chase: Best for Wide Range of CRE Loans, Business Checking & Credit Cards
What We Like
- Up to a $300 bonus when you open an account
- Easy-to-waive monthly fee
- Built-in card acceptance with QuickAccept℠ via the Chase MobileⓇ app
Drawbacks
- Limited number of free transactions
- ATM fees not reimbursed
- Fee for cash deposits of more than $5,000 per statement period
Features
- Manage debit, deposit, and ATM card settings for individual employees
- Deposit checks, view account balances, pay bills, and make transfers through the mobile app
- Integrates with QuickBooks and other leading accounting software
- Free debit card, mailed within 10 business days of application approval
- Physical checks’ costs, depending on type ordered
- Chase Payment Solutions
- Live customer support online or in branch during business hours
- Other products include business savings, CDs, lending products, credit cards, merchant services, and collection services
 | |
|---|---|
Required Opening Deposit | None |
Required Balance Minimum | None |
Transaction Limit Before Fees | 20, then 40 cents per transaction |
ACH Fees | $2.50 per item for first 10 payments and 15 cents for succeeding payments |
Monthly Fees | $15; waivable if conditions are met |
Domestic Wire Transfer Fees | Up to $35 for outgoing wires; up to $15 for incoming wires |
International Wire Transfer Fees | Up to $50 for outgoing wires; up to $15 for incoming wires |
ATM Fees | $3 for out-of-network ATM usage; third-party ATM operator fees may apply |
Cash Deposited | $2.50 per $1,000 after you deposit $5,000 in a billing cycle |
Other Products Available | Business savings and CDs, lending products, credit cards, merchant services, and collection services |
Review |
Loan Amounts |
|
Interest Rates | Undisclosed; varies per loan product |
Loan Terms | Up to 25 years; varies per loan product |
Minimum Time In Business | Undisclosed; likely at least two years |
Minimum Annual Revenue | Undisclosed |
Loan Types |
|
When to Choose Chase
- Real estate investors requiring financing: Chase offers a wide range of lending options. It offers business and commercial lines of credit, term and draw loans, advised lines, CRE financing, and SBA loans. It also has a great selection of credit cards, which you can learn more about through our guide on the best Chase business credit cards.
- Businesses looking for multiple great checking options: Chase’s three checking options all have waivable monthly fees as long as you meet specific requirements. The basic checking account, Business Complete Banking, provides 20 free transactions and $5,000 in free cash deposits monthly. You can get a $300 bonus for signing up for a new account and meeting account requirements.
- Large companies seeking more benefits from a high-tier account: The Chase Platinum Business Checking product offers high fee-free transaction and cash deposit limits. You can also receive incoming wires and use out-of-network ATMs for free. Further, you get additional fraud protection services and a dedicated customer service line. See our Chase Platinum Business Checking review for more details.
- Those wanting merchant and collection services and other full-service banking products: Chase offers great merchant and collection services. You also get great software integrations, fraud protection, and additional perks when you pair business credit cards and savings accounts with its business checking. All of these services make Chase one of the best banks for small businesses and top-recommended banks in New York.
When to Choose an Alternative
- You need a bank account without monthly fees: Chase’s accounts all have waivable monthly fees, but if you want a bank that offers fee-free checking, you’ll need to consider an alternative. U.S. Bank is a great option for a traditional bank, while Baselane and Bluevine are both great online fintechs, all with no monthly fees.
U.S. Bank: Best for Long-term Owner-occupied CRE Loans
What We Like
- No monthly fee
- Free mobile check deposits
- Apply in person, online, or by phone
Drawbacks
- Opening deposit required
- Expensive wire fees
- Limited free transactions
Features
- Send and receive money through app
- Digital invoicing and payment systems integrated into your online dashboard
- Mobile app to monitor all of your accounts, transfer funds between accounts, and deposit checks online
- Easy integration with overdraft protection or credit card processing services for your business
- Free debit card and 50% discount on first check order up to $50
- Integrations with QuickBooks and U.S. Bank Payment Processing
- Customer service online, by phone, or in-branch during business hours
- Other products include lending and cash flow products, other checking options, and point-of-sale (POS) services
 | |
|---|---|
Required Opening Deposit | $100 |
Required Balance Minimum | None |
Transaction Limit Before Fees | 125 in a month, then 50 cents per transaction |
Monthly Fees | None |
Domestic Wire Transfer Fees | $40 for outgoing; $16 for incoming |
International Wire Transfer Fees | $75 for outgoing; $16 for incoming |
ATM Fees | No charge for out-of-network ATMs, although operator fees apply |
Cash Deposited | Up to $2,500 in free cash deposits |
APY | N/A |
Other Products Available | Lending products, cash flow products, Gold and Platinum business checking, and POS solutions |
Review |
Loan Amounts |
|
Interest Rates | As low as 8.99%; varies per loan product |
Loan Terms | Up to 25 years; varies per loan product |
Minimum Time in Business | Generally 2 years |
Minimum Annual Revenue | Undisclosed |
Loan Types |
|
When to Choose U.S. Bank
- You seek long-term, larger CRE loans or other varied credit options: With loan terms of up to 25 years and SBA loans of up to $12.375 million, U.S. Bank is an excellent choice for long-term owner-occupied CRE loans. It has the most varied types of business loans on this list. In addition to traditional business and CRE loans, it offers healthcare practice and McDonald’s franchise financing. Also, you can choose from several U.S. Bank business credit cards.
- Real estate investors or landlords who want fee-free business checking: U.S. Bank offers a great business checking product that charges no monthly fees on its basic business checking product, known as Silver Business Checking. You get 125 free transactions and up to $2,500 free cash deposit per statement cycle.
- You want to open a business checking account nationwide: Even if your business is located outside one of the 26 states with a physical location, you can open a U.S. Bank business checking account. U.S. Bank has more than 3,500 branches—and it even took the top spot in our list of the best banks for small businesses in California.
When to Choose an Alternative
- You need access to a physical branch outside of U.S. Bank’s operational footprint: If branch access is important for your business, you need to ensure your business operates in one of the 26 states where U.S. Bank has a physical location. Otherwise, you may want to consider Chase or Bank of America for more extensive branch access.
Grasshopper: Best for SBA Lending Solution & Uncapped APY on Checking
What We Like
- No monthly fee and minimum balance
- Up to 1.80% uncapped APY
- Unlimited 1% cash back
Drawbacks
- Cash deposits not accepted
- No physical locations
- Opening deposit required
Features
- Free physical and virtual debits cards
- Free bill pay, check deposit services, and digital invoicing tools
- Free domestic ACH and wire transfer if balance is $25,000 or greater
- International wire transfers available
- Autobooks, QuickBooks, and Plaid integrations
- FDIC insurance up to $125 million
- Earn up to 3.55% APY on balances greater than $50,000 when Accelerator Checking is bundles with Accelerator Savings
- Personalized support from a US-based Client Services team available by phone, email, chat, and secure message
- Other products include savings accounts, startup banking services, treasury management, CRE loans, and SBA loans
| |
|---|---|
Required Opening Deposit | $100 |
Required Balance Minimum | None |
Transaction Limit Before Fees | Unlimited |
ACH Fees | None |
Monthly Fees | None |
Domestic Wire Transfer Fees | Free if account balance is $25,000 or greater; no incoming wire fees; $10 for outgoing |
International Wire Transfer Fees | $5 for incoming, $25 for outgoing |
ATM Fees | Free at 45,000 MoneyPass & Sum network ATMs |
Cash Deposited | Cash deposits not accepted |
APY |
|
Other Products Available | Innovator checking account, Innovator savings account, application programming interface (API) banking, startup banking services, treasury management, CRE loans, and SBA loans |
Review |
| |
|---|---|
Loan Amounts | Up to $5 million |
Interest Rates | Rates from WSJ Prime, plus 2 to 3% |
Loan Terms | Generally 2 years |
Minimum Time in Business | Undisclosed |
Minimum Annual Revenue | Undisclosed |
Loan Types |
|
When to Choose Grasshopper
- Real estate investors seeking a Small Business Administration loan to help grow property portfolios: Grasshopper offers SBA 7(a) loans to finance real estate purchases and expansions. You can access up to 100% financing for business expansion and 90% for acquisitions. This loan can also be used to fund property construction and renovation projects. The bank also offers CRE loans starting at $1 million but you need to contact the bank for more information.
- Businesses looking to earn interest: If you open a Grasshopper Accelerator Checking account, you can earn up to 1.80% uncapped APY, as long as you maintain a $10,000 minimum average balance. Bundling this product with an Accelerator Money Market Savings account increases the rate to 3.55%, provided your balance is $50,000 or more. Given this interest yield, Grasshopper is included in our best business bank accounts for LLCs.
- Those with large balances requiring more fund protection: Grasshopper extends an FDIC insurance coverage of up to $125 million.
- You want to access a free invoice and payment software: Grasshopper integrates Autobooks with your business checking account so you can pay your bills easily and issue personalized invoices for free. Additionally, the bank is compatible with QuickBooks, Plaid, and Venmo.
When to Choose an Alternative
- You need to deposit cash: Grasshopper is a digital-only bank and does not accept cash deposits. You can opt for traditional banks with many brick-and-mortar branches, such as Chase, Bank of America, and U.S. Bank.
Relay: Best for Cash Flow Management and Collaboration Tools
What We Like
- No monthly fees for Standard account
- Free incoming wire transfers
- 20 checking accounts and 50 debit cards offered
Drawbacks
- Online-only provider
- No lending products
- Relay Pro monthly fee cannot be waived
Features
- No required minimum balance
- Savings accounts offer 1% to 3% APY
- No ACH and overdraft fees
- QuickBooks and Xero integration
- Business payment solutions include PayPal, Stripe, and Square
- Free cash deposits at Allpoint+ ATMs
- Deposit cash at over 90,000 Green Dot retail locations (fee applies)
- Free wires and 50 same-day ACH transfers via Relay Pro
- Email and phone customer support
- FDIC insurance coverage up to $3 million
- Customizable account permissions for team members
| |
|---|---|
Required Opening Deposit | $0 |
Required Balance Minimum | None |
Transaction Limit Before Fees | Unlimited |
ACH Fees | $0, takes 1 to 2 days |
Monthly Fees | None |
Domestic Wire Transfer Fees | $5 for outgoing, $0 for incoming |
International Wire Transfer Fees | $10 for outgoing, $0 for incoming |
ATM Fees | |
Cash Deposited | $0 through Allpoint+ ATMs and $4.95 per deposit at Green Dot retail locations |
APY | None |
Other Products Available | Savings accounts and Relay Pro |
Review |
Note: Relay does not offer any loan products.
When to Choose Relay
- You run a short-term rental and have a high transaction volume: If you own a rental business, you would need to make regular vendor payments. With a Relay business checking account, you get unlimited payments and next-day ACH transfers for free.
- You want to streamline your bookkeeping: Relay allows you to open 20 checking accounts, making it easy to categorize your business income and expenses. You can dedicate one account per property and separate funds for taxes, operating costs, and security deposits in different accounts. Because of this excellent feature, we included Relay in our list of the best online business banks.
- You seek to streamline your administrative tasks: Since Relay offers shared account access, you can collaborate with your team and delegate specific financial tasks to different members, such as paying bills and creating check payments, to save time. Tracking expenses is also efficient as you can issue up to 50 debit cards to set spending limits and monitor individual expenses.
When to Choose an Alternative
- You want property financing options: Although Relay has one of the best business bank accounts for real estate investors, it does not offer lending products. You can apply for CRE or SBA loans at traditional banks, such as Chase, U.S. Bank, and Bank of America, or consider top fintech providers, Baselane and Bluevine.
How We Evaluated the Best Real Estate Investor-friendly Banks
I considered more than 100 banks when compiling this list. When evaluating the best banks for real estate investors, I considered the following:
- Monthly fees, if any, and how easily they’re waived
- Required opening deposit and balance minimums
- Transaction limits before fees
- ACH and wire transfer fees
- ATM fees and availability
- Cash deposit fees and availability
- Interest yield, if applicable
- Software integrations
- Other business services provided
- Number of loan offerings
- Size of loans offered
- Loan qualifications required
- Time in business and minimum revenue requirements
- Loan rates and maximum terms
- How widely available the bank is
- Customer reviews
What You Need to Open a Business Bank Account
Each provider on this list may require different documents to open a business bank account. Generally, you’ll need:
- Employer identification number (EIN) or Social Security number if you’re a sole proprietor
- Fictitious business name certificate or doing-business-as (DBA) certificate
- Business formation documents
- Organization documents, including your ownership agreements
- Business licenses
- Government-issued photo ID, such as a passport or driver’s license
Frequently Asked Questions (FAQs)
Baselane tops our list of the best real estate investor-friendly banks thanks to integrated, all-in-one landlord and real estate banking combined with CRE products.
When you open a bank account for real estate, you should consider an account that earns interest and has limited fees. While savings accounts earn the highest interest rate, finding an interest-earning checking account like Bluevine is best because you won’t be subject to monthly transaction limits that you might find in savings accounts.
When looking for a bank for your real estate investing business, you should choose a bank that has both an excellent business checking product and CRE lending options. Other bank products and features that would benefit REI businesses include rent collection, fix-and-flip loans, and limited account fees.
Bottom Line
Real estate investors should choose a bank with outstanding business checking and great CRE lending. All but two of the providers in this guide offer both. However, Stessa’s online rent collection and cash management products are strong enough to merit inclusion on this list, as well as Relay’s excellent banking features and bookkeeping tools. Review the most important features for your real estate investing business and choose the bank that best serves those needs.
