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 best real estate investor (REI) friendly banks:
- Baselane Baselane is a business fintech platform backed by FDIC-insured Thread Bank, Member FDIC : Best overall for all-in-one landlord, Airbnb, VRBO, and REI banking with CRE loan products
- Bluevine Bluevine is a financial technology company, not a bank. Banking Services provided by Coastal Community Bank, Member FDIC. : Best small business line of credit with interest-earning checking
- U.S. Bank U.S. Bank National Association. Member FDIC : Best for long-term owner-occupied CRE loans
- Grasshopper Grasshopper Bank, N.A. | Member FDIC : Best for SBA lending and uncapped APY on checking
- Chase JPMorgan Chase Bank, N.A. Member FDIC : Best for a wide range of CRE loans, business checking, and credit cards
- Truist Truist Bank, Member FDIC : Best for flexible repayment options
- Stessa Stessa is a financial technology company and is not a bank. Banking services provided by Thread Bank, Member FDIC. : Best for online rent collection with banking product
- Wells Fargo Wells Fargo Bank, N.A. Member FDIC :Best for investors in multifamily properties
- First Internet Bank First Internet Bank of Indiana. Member FDIC. : Best for real estate investors wanting lending options for building green
- Relay Relay is a financial technology company and is not a bank. Banking services provided by Thread Bank, Member FDIC. : Best for cash flow management and team collaboration tools
Best banks for real estate investors at a glance
Loan amounts | Interest rates | Loan terms | Min. time in business | Min. annual revenue | |
|---|---|---|---|---|---|
 | $75,000 to $3 million | Varies per provider | Up to 30 years | Undisclosed | No income verification |
 | As low as 7.8% | 3,6, or 12 months | 6+ months | ||
 | Undisclosed | Up to 25 years | Undisclosed | Undisclosed | |
 | Varies | Varies | Varies | Varies | Undisclosed |
 | Undisclosed | Up to 25 years | Undisclosed | Undisclosed | |
 | Undisclosed | Up to 15 years | Undisclosed | ||
 | Up to $7 million | Varies | Up to 40 years | Undisclosed | Varies |
 | Up to $25 million | Undisclosed | Varies | Undisclosed | Undisclosed |
Baselane: Best overall for all-in-one landlord, Airbnb, VRBO & REI banking with CRE loan products
What I Like
- Competitive APY.
- ACH fee can be changed to tenants responsibility instead of the landlord for rent collection.
- Rent reporting allows tenants to build credit.
- Rent payouts in two business days.
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.
- Online account opening can be done in two minutes.
- Unlimited accounts partitioned by unit to stay organized.
- Virtual cards to control and manage spending.
- Send ACH payments, pay invoices, make transfers, and deposit checks from any device.
- Free 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 |
|
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 3.35% (only paid on savings accounts) |
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 | $75,000 to $3 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 ACH payments to third parties. You get unlimited virtual accounts and virtual cards, allowing for better expense tracking and finance organization.
- Airbnb and VRBO owners looking for an all-in-one solution: This platform is customized for short-term rentals, allowing multiple accounts per property. Virtual and physical debit cards are available, and there are no monthly maintenance fees or minimum balance requirements. Baselane also includes powerful cash flow tracking and P&L reporting with the ability to get insurance for each short-term rental property.
- Property owners searching for tenant screening and wanting to avoid fraud and costly evictions: Baselane provides secure, efficient tenant screening designed to help landlords find trustworthy tenants. You can choose from options such as income verification, housing court records to identify eviction history, ID verification with live photos to validate the clients identity, criminal reports, and credit reports for a $34.99 fee charged directly to the tenant during the rental application.
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 I Like
- No monthly fees.
- $300 sign-up bonus for new business checking account holder using referral code: FSM300.
- 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.
- Up to five subaccounts.
- International business payment services.
- One free checkbook for the lifetime of the account then $30 thereafter.
- 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 available.
 | |
|---|---|
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 |
|
ATM fees |
|
Cash deposited | None at MoneyPass locations nationally; $2.50 plus operator fees for non-network ATM use |
APY |
|
Other products available | 1.5% on qualifying balances up to $250,000 |
Other Products available | Line of credit and credit card |
Bluevine is a business fintech platform backed by FDIC-insured Coastal Community Bank. | |
Loan amounts | |
Interest rates | As low as 7.8% |
Loan terms | 3, 6 or 12 months |
Minimum time in business | 6 + months |
Minimum annual revenue |
|
Loan types | Small business line of credit and term loans; applying does not affect your credit score, and decisions are sometimes available within five minutes of the application 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. This interest-earning option landed Bluevine in our roundup of the best small business checking accounts.
- 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 3-, 6-, 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 the Chase Business Complete Banking, which gives a fee-free $5,000 cash deposit allowance each month.
U.S. Bank: Best for long-term owner-occupied CRE loans
What I 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.
Loan amounts |
|
Interest rates | Undisclosed |
Loan terms | Up to 25 years; varies per loan product |
Minimum time in business | Undisclosed |
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 of the best 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 25 units? free cash deposits 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 top banks for small businesses in California.
When to choose an alternative
- You need access to a physical branch outside of the 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 for more extensive branch access.
Grasshopper: Best for SBA lending and uncapped APY on checking
What I Like
Drawbacks
- Cash deposits not accepted.
- No physical locations.
- Opening deposit required.
Features
- Free physical and virtual debit 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 bundled 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 |
|
International wire transfer fees |
|
ATM fees | Free at 45,000 MoneyPass & Sum network ATMs |
Cash deposited | Cash deposits not accepted |
APY |
|
Other products pvailable | Innovator checking account, Innovator savings account, application programming interface (API) banking, startup banking services, treasury management, CRE loans, and SBA loans |
| |
|---|---|
Loan amounts | Varies based on loan type |
Interest rates | Varies based on loan type |
Loan terms | Varies based on loan type |
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 financing for business expansion and business acquisitions, which can also be used to fund property construction and renovation projects. The bank also offers CRE loans; however, 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 and U.S. Bank.
Chase: Best for a wide range of CRE loans, business checking & credit cards
What I Like
- Up to a $500 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
- 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 |
Monthly Fees | |
ACH Fees | $2.50 per item for first 10 payments and 15 cents for succeeding payments |
Domestic Wire Transfer Fees |
|
International Wire Transfer Fees |
|
ATM Fees | $3 for out-of-network ATM usage; third-party ATM operator fees may apply |
Cash Deposited | $5,000 free per month, then $2.50 per $1,000 |
APY | N/A |
Other Products Available | Business savings and CDs, lending products, credit cards, merchant services, and collection services |
Loan amounts |
|
Interest rates | Undisclosed; varies per loan product |
Loan terms | Up to 25 years; varies per loan product |
Minimum time in business | Undisclosed |
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 Checking, provides 20 free transactions and $5,000 in free cash deposits monthly. You can get up to a $500 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 at no charge and four outgoing wires per statement cycle. 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.
Truist: Best for flexible repayment options
What I like
- Choose your own loan term on most small business loans.
- No monthly maintenance fee for Simple Business Checking.
- $25 discount on the first order of checks.
Drawbacks
- Up to three overdraft fees of $36 per day can be charged.
- QuickBooks and Quicken integration is $9.95 monthly.
- $3 fee charged when using a Non-Truist ATM + third-party fees apply.
Features
- Personalized debit card with your logo or custom artwork.
- Fraud Inspector helps curb fraud attempts on accounts.
- No minimum balance requirement.
- Free ATM usage at all Truist ATMs.
- Debit cards replaced at no charge.
- International banking services available.
- Free funds transfers between Truist accounts.
- Free online banking and mobile app.
- Unlimited online bill pay.
- First 15 ACHs free each month.
- Reasonably priced wires.
- Free monthly eStatement.
 | |
|---|---|
Required opening deposit | $100 |
Required balance minimum | $0 |
Transaction limit before fees | 50 monthly, then $0.50 per transaction |
Monthly fees | $0 |
Domestic wire transfer fees |
|
International wire transfer fees |
|
ATM fees | Free at all Truist ATMs-$3 at all out of network ATMs + third party fees apply |
Cash deposited | $2,000 free, then $0.0031 per $1 |
APY | N/A |
M-F 8am-8pm EST and Saturday 8am-5pm | |
Other products available | Small business loans, merchant services, credit cards, equipment loans, business line of credit and business auto loans |
Loan amounts |
|
Interest rates | Undisclosed |
Loan terms | Flexible terms of up to 15 years |
Minimum time In business | Undisclosed |
Minimum annual revenue |
|
Loan types |
|
When to choose Truist
- Business owners looking for business checking with $0 monthly maintenance fee: The Truist Simple Business Checking account is a great choice for business owners searching for an account with p fees. It comes with no monthly maintenance fees and no minimum balance requirements, making it an affordable option for business owners. Because of the affordability of this account, we named it one of the best banks for nonprofits.
- Businesses searching for a real estate loan: Truist offers small business real estate loans of up to $250,000 that can be used to purchase a commercial property or to draw equity from an existing piece of property. It allows for 85% financing and has flexible terms up to 15 years.
- Real estate investors looking for a commercial loan exceeding $250,000: Truist offers special financing for businesses with multifamily investment properties or commercial construction needs. This loan requires an appointment with a relationship manager and proof of annual business revenue of $2 million or over.
When to choose an alternative
- You operate your business outside of the Truist bank footprint: While Truist has excellent business lending opportunities, it does not serve the entire US Alabama, Arkansas, Florida, Georgia, Indiana, Kentucky, Maryland, Mississippi, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, and Washington D.C . If you are searching for a financial institution with a larger lending area, you may want to consider Chase or U.S. Bank.
Stessa: Best for online rent collection with banking product
What We Like
- High-yield APY.
- Automated rent collection.
- Tax and financial reporting.
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 |
|
Domestic Wire Transfer Fees |
|
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 |
|
Other Products Available | Online rent collection, tenant screening, and expense management |
Stessa is a business fintech platform backed by FDIC-insured Blue Ridge Bank, N.A. | |
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 2.31% APY, and if you upgrade to the premium Stessa Pro, you can earn up to 3.98% 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. Check out our comparison of Baselane vs Stessa business checking to see how they stack up against each other.
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, U.S. Bank, or Chase if you need lending products from the same provider as your business checking.
Wells Fargo: Best for investors in multifamily properties
What I Like
- Monthly maintenance fee on entry level account is easily waivable.
- Low minimum deposit of $25 to open.
- 100 free transactions per month.
Drawbacks
- No free checking options.
- No new account bonus offered.
- Fee structure can be confusing.
Features
- Accounts are automatically enrolled in debit card overdraft service.
- Low cost same-day ACH fees.
- No charge for stop payments.
- Reasonally priced wires.
- Multiple accounts to choose from.
- Special team works with real estate investors on multifamily properties.
- Robust mobile banking app.
- Phone support available seven days a week.
| |
|---|---|
Required opening deposit | $25 |
Required balance minimum | $0 |
Transaction limit before fees | 100, then $0.50 per transaction |
Monthly fees | |
Domestic wire transfer fees |
|
International wire transfer fees |
|
ATM fees | Free at all Wells Fargo ATMs; $3 at out-of-network ATMs + third party fees |
Cash deposited | $5,000 free, then $0.30 per $100 |
APY | N/A |
Customer Service | Available 7 days a week |
Other products available | Savings accounts, CDs, credit cards, merchant services, payroll services, and business lending |
Loan amounts | Amount varies based on lending product; up to $7 million |
Interest rates | Varies by provider |
Loan terms | Up to 40 years |
Minimum time in business | Undisclosed |
Minimum annual revenue | Varies based on product |
Loan types |
|
When to choose Wells Fargo
- Real estate investors looking for lending options for multifamily housing: Wells Fargo has a dedicated team that works specifically with multifamily real estate property financing. The originators are very experienced in this property type along with financing options, including balance sheet financing. This increases lending flexibility and allows the team to better meet the needs of the investor. There are also specific underwriting, closing and servicing options, making this process much smoother during the construction or financing process.
- Business owners looking for a business account with easily waivable fees: The Initiate Business Checking account has a very reasonable monthly maintenance fee of $10, which is easily waivable by meeting one of the following requirements:
- Maintain a minimum daily balance of $500
- Maintain an average ledger balance of $1,000
These requirements are easy to reach by many small business owners, making this account one of the best options compared with its competitors.
- Businesses looking for in-person banking options: Wells Fargo is currently the 2nd largest bank in the US, which makes it more accessible to business owners needing in-person banking services. It has 4,297 branches in 36 statesⓘ, plus Washington D.C. The large number of branches makes it more convenient for business owners needing to deposit cash or purchase coin for daily business operations.
When to choose an alternative
- Businesses needing a free checking solution: Bluevine is a great option for those searching for a fintech company. It offers a fee-free account along with many other business products at no charge. It’s one of our leading free business checking accounts and top-recommended banks for startups. For those needing a more traditional bank, U.S. Bank and Truist are great options. Both offer in-person banking options along with very robust mobile banking platforms while still offering fee-free accounts.
First Internet Bank: Best for real estate investors wanting lending options for building green
What I Like
- Online account opening available.
- No minimum balance requirement.
- Unlimited transactions.
Drawbacks
- Cash deposits not accepted.
- No physical branches.
- No business checking promotion.
Features
- CRE loans up to $25 million.
- Financial forecasting tools available for business accounts.
- Competitive APY on business checking accounts.
- Balance optimizer moves funds to maximize earnings.
- Large selection of business loans.
- Savings and CDs with competitive rates.
- Special lending for solar, wind energy, HVAC, water conservation, LED retrofits, boilers and chillers.
- $10 monthly ATM reimbursement.
 | |
|---|---|
Required opening deposit | $100 |
Required balance minimum | $0 |
Transaction limit before fees | Unlimited |
Monthly fees | None |
Domestic wire transfer fees |
|
International wire transfer fees |
|
ATM fees | No fee; $10 ATM reimbursement monthly from third party ATMs |
Cash deposited | Cash deposits not accepted |
APY | 0.50% on average daily balances of $10,000 and above |
Other products available | Savings, CDs, commercial lending, SBA loans and public finance for schools, utility companies, and non profits |
Loan amounts | Up to $25 million |
Interest rates | Undisclosed |
Loan terms | Varies based on product |
Minimum time in business | Undisclosed |
Minimum annual revenue | Undisclosed |
Loan types |
|
When to choose First Internet Bank
- Business owners wanting to build green facilities implementing energy conservation products: First Internet Bank has a special lending program to assist business owners wanting to build energy efficient facilities that conserve natural resources. These include solar energy, wind energy, HVAC, water conservation, LED retrofits, boilers and chillers. This program has allowances for businesses to purchase or lease equipment to help them go green.
- Real estate investors seeking a lending institution with a large variety of real estate options: The commercial lending team specializes in financing office space, multifamily properties, retail and industrial properties. The loan options are single tenant net lease financing, residential development, residential construction financing and commercial construction. To make this a smooth process, the team has experts in counseling, debt structuring, underwriting closing, and servicing of CRE up to $25 million.
- Businesses searching for additional deposit options: First Internet Bank has a variety of accounts designed specifically for business use. There are two checking accounts to choose from depending on the treasury management needs of your business. There are also two saving methods, savings accounts and CDs, which offer flexible terms with competitive interest rates. First Internet Bank also offers partner bank collaboration, giving you access to additional deposit features if needed.
When to choose an alternative
- Business owners searching for an account with no opening deposit: First Internet Bank’s account opening process requires an initial deposit of $100 to activate your account.You may want to consider other online alternatives such as Bluevine or Relay. Both have introductory accounts that do not require an opening deposit to get a business checking account activated.
Relay: Best for cash flow management and collaboration tools
What I 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 up to 3.76%
For customers with savings accounts opened on or after 1/1/25, APY will vary from 1.75%-3.76%. If your monthly average account balance is
• Under $10,000, the interest rate is 1.73% with an APY of 1.75%
• Between $10,000 and $50,000, the interest rate is 2.72% with an APY of 2.75%
• Above $50,000, the interest rate is 3.70% with an APY of 3.76% 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).
- 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 |
Monthly fees | None |
ACH fees | $0, takes 1 to 2 days |
Domestic wire transfer fees |
|
International wire transfer fees |
|
ATM fees | None at Allpoint ATMs; Relay doesn’t charge out-of-network ATM fees, although third-party fees will apply |
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 |
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, or consider top fintech providers, Baselane and Bluevine.
How I evaluated the best real estate investor friendly banks
I reviewed a large variety of banks when compiling this roundup. And when evaluating the best real estate investor friendly banks, 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
Tax advantages when using specialized landlord banking
- Makes tax season easy. Having a separate account dedicated to each property will make it easy to calculate deductible expenses such as mortgage interest, depreciation, travel expenses, and legal fees when tax season rolls around.
- Allows property separation for better bookkeeping. Using dedicated landlord property accounts keeps each rental home separate from other properties for more concise bookkeeping.
- Enables you to file tax returns quickly. Since each account is dedicated to a specific property, tax time is streamlined with all property expenses grouped together.
Benefits of integrating a bank account with property management software
When considering which bank is the best fit for your real estate investment business, you will likely want one that easily integrates with property management software because it
One bank that has excellent property management software options is Baselane, which leads our roundup of the top banks for real estate investors. It offers integrated rent collections software along with tenant screening capabilities. These options make Baselane an excellent one-stop shop for landlords seeking to streamline their monthly rental process. For more information, jump to our Baselane section.
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 if operating a DBA
- Business formation documents
- Organization documents, including your ownership agreements
- Business licenses
- Government-issued photo ID, such as a passport or driver’s license
Our related resource: How to Open a Business Bank Account
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.
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.
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.
Yes, many banks offer special programs for rental homes, Airbnb and VRBO properties, multifamily housing, commercial real estate, and green building for conservation of natural resources. Some banks offer features that work well with deposit products, such as tenant screening, rent collection, and landlord-based bookkeeping.
The difference lies in the special software that comes with the product. Business checking often comes with it; however, it is not geared toward rental business funds collection. Meanwhile, landlord banking often includes it — and it aids in monthly rent collection, tenant messaging, and invoicing.
Many business owners feel having an account that earns APY is an asset and contributes to rental profitability. The level of importance is often determined by the business itself based on specific needs and the structure of the business model.
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 — but Stessa’s online rent collection and cash management products and Relay’s excellent banking features and bookkeeping tools are strong enough to merit inclusion on this list. Review the most important features for your real estate investing business, and choose the bank that best serves your specific needs.
