Axos Small Business Banking

Best for: Real estate investors who prefer full-service, online-only banking

Min. opening deposit: $0 | Transactions: Unlimited | ATMs: Unlimited domestic reimbursements

Axos is a digital bank that launched in 2000 as Bank of Internet USA. The online-only bank is FDIC-insured and offers checking accounts, savings accounts, CDs, and money market accounts for small businesses. 

Other options include merchant services for collecting payments, payroll services, treasury management, and SBA loans. 

Perfect for landlords and real estate investors, Axos offers small balance commercial real estate loans, which are used for muti-family properties, investor-owned 2-4 unit properties, student housing, mobile home parks, and more.

Since your Axos account is online, depositing cash into it can be a bit of a pain. You’ll need to visit a Greendot location. There are almost 100,000 locations, and Greendot can be found in retailers such as Walgreens, CVS, and Walmart. For non-cash deposits, you can make deposits to your Axos business account by mobile deposit, mailing a check, or bank or wire transfer. There are no fees for incoming domestic wires. 

You’ll get unlimited ATM fee reimbursement with Axos Bank, and the daily ATM limits are $1,010 for cash withdrawals and $5,000 for POS purchases.

You will get checks and a debit card when you open your Axos Business bank account. 

Learn more by checking out our full Axos Bank review.

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Baselane

Best for: Landlords who want an all-in-one experience

Min. opening deposit: $0 | Transactions: Unlimited | ATMs: Free at in-network (Allpoint) ATMs

Baselane is a fintech company that was founded specifically to serve landlords and real estate investors. Its banking services are provided through Thread Bank, member FDIC.

Baselane has created a method that allows you to collect rent, manage your rental income and expenses, and even get a loan for your business. They also let you generated unlimited virtual accounts and cards, a feature that isn’t common.

You can also invite your tenants to pay rent via Baselane. You won’t be charged fees if you collect rent via Baselane. However, your tenants will pay a fee, currently 2.99%, when paying with a debit or credit card.

In addition, you can receive rent to go into your Baselane account or an outside bank account of your choice.

Bonus: When you use your Baselane debit card for purchases, you’ll earn unlimited 1% cash back. Higher cash back rates are occasionally offered on things like home improvement expenditures.

Baselane integrations include PayPal, Quickbooks, Venmo, Cash App, Airbnb, and more.

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Bluevine

Best for: Small businesses with steady growth

Min. opening deposit: $0 | Transactions: Unlimited | ATMs: Free at in-network (Allpoint) ATMs

Bluevine is a fintech company that launched in 2013 for the specific purpose of making banking easier for small businesses. 

The company offers an attractive $3 million in FDIC insurance per client through Coastal Community Bank, member FDIC. 

Some of the features Bluevine offers include free ACH and incoming wire transfers, bill pay and automated accounting, and integrations with popular payment apps such as Wave and Xero.

You can also get approved for higher mobile check deposit limits and apply for the Bluevine Business Mastercard as well. 

Bluevine is a good banking option to choose if you have plans to keep expanding your real estate investment business. It’s good for both sole proprietors and larger real estate investment businesses.

Learn more by checking out our full Bluevine review.

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Chase Business Complete Checking

Best for: Landlords who prefer a full-service banking experience

Min. opening deposit: $0 | Transactions: Unlimited debit card or Chase ATM transactions, 20 free paper/teller transactions per month | ATMs: Free in-network

Chase Business Complete Banking may be a great option if you like the idea of working with a large bank. Chase offers brick-and-mortar banking locations — nearly 5,000 worldwide.

The Chase Business Complete checking account offers a wide range of benefits for landlords and real estate investors, including Chase QuickAccept for rent payments.

With QuickAccept you can accept card payments for rent and other reasons. Additional tools help you manage payroll, wire transfers, and cash flow. Upgrade to one of two other business checking accounts as your business grows.

Learn more by checking out our full Chase Business Complete Banking review.

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Found

Best for: Real estate investors operating as solopreneurs

Min. opening deposit: $0 | Transactions: Unlimited | ATMs: Accepted, fees may apply

Found is a fintech banking company designed to help business owners manage all of their business finances in one place. 

The business banking app includes features such as unlimited invoicing, auto-categorization of expenses, and integrations with Venmo and PayPal.

You can use Found’s Pockets feature to save for taxes and other custom categories to help better manage business funds. For example, you could designate a rental repair pocket or a savings pocket.

Upgrade to Found Plus for $19.99/mo. (or $149.99/yr.) and get custom bookkeeping categories, in-app quarterly tax payments, earned interest of 1.5%, and more. 

Read our full Found Business Banking review to learn more.

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Lili

Best for: Business owners with check deposits under $50k per month

Min. opening deposit: $0 | Transactions: Unlimited | ATMs: Free in-network

Lili is another financial technology company offering free basic banking for small business owners. 

Lili has four plans to choose from ranging in cost from $0 per month up to $55 per month. Lili’s Basic account offers the features listed above and includes real-time notifications and the ability to receive incoming wire transfers and early direct deposits. 

If you upgrade to Lili Pro, Lili Smart, or Lili Premium, you’ll be privy to added features including a cash back debit card, earned interest on savings balances, and fee-free overdrafts up to $200.

Upgraded accounts also include expense management tools, accounting software, and tax preparation software. Check out Lili’s referral program if you’re interested in earning some extra cash.

Read our full Lili Business Banking review to learn more.

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Novo

Best for: Real estate investors seeking expansive integration options

Min. opening deposit: $0 | Transactions: Unlimited | ATMs: Up to $7 in ATM fees reimbursed per month

Novo is a fintech company that was founded with the goal of giving small business owners the most compelling banking experience possible. Your Novo funds are FDIC-insured through Middlesex Federal Savings.

One popular feature that Novo offers is unlimited, customized invoices. They also offer a long list of integrations, including:

• Amazon
• Gusto
• Paypal
• Shopify
• Slack
• Square
• Stripe
• Wise
• Xero
• Zapier

If you need to send a check, Novo will send a check to any domestic location on your behalf. Incoming wire transfers are free with Novo, although you may get charged by the sender’s bank.

Novo also provides Reserve accounts in order to help you better manage your business funds. Reserve accounts are subaccounts within your Novo account that you can use to designate funds for taxes, payroll, and more.

Check out our full review of Novo.  

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Stessa

Best For: Real estate investors looking for a one-stop real estate management shop

Min. opening deposit: $0 | Transactions: Free, with varied limits | ATMs: No fees from Stessa, ATM owner fees may apply

Stessa is unique in that it is a fintech company created especially for real estate investors and landlords. Launched in 2016 and acquired by Roofstock in 2021, Stessa offers powerful tools for individual real estate investors.

Stessa funds are FDIC-insured by Thread Bank, member FDIC. While not a property management platform, Stessa helps you with tasks such as:

• Managing your rental property funds
• Tenant screening
• Single-entry bookkeeping
• Financial reports

You can also use Stessa to have tenants e-sign their leases and other documents. Stessa has a free plan and two paid plans to choose from. If you’re looking to simplify management of your rental properties and make accounting and tax time easier, you might like Stessa.

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U.S. Bank Business Checking

Best for: Real estate investors seeking quick access to lending options

Min. opening deposit: $100 | Transactions: 125 free transactions per statement cycle, $0.50 each after that | ATMs: No fees at U.S.-Bank owned ATMs

U.S. Bank’s Silver Business Checking account is one of three checking accounts U.S. Bank offers for small business customers. 

Because U.S. Bank is the country’s fifth largest bank, it has the advantage of offering landlords and real estate investors a host of additional features such as merchant services, payment processing, and business lending services. 

For example, U.S. Bank offers a wide array of lending options for business owners including commercial real estate loans. 

You can also apply for a business credit card with U.S. Bank. And the U.S. Bank app allows you to get customized notifications, lock/unlock your debit card, and more.

Check out the current promotions for U.S. Bank.

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How to Choose the Best Bank for Landlords and Real Estate Investors

When deciding which bank account is best for you as a real estate investor or landlord, there are a few factors to consider. 

First and foremost, you’ll want to decide if an online bank will serve you or if you would prefer to bank in person.

You’ll also want to consider your needs in a bank. Perhaps a basic checking and savings account will do, but you may also need payroll services and payment processing. If so, consider using a bank that can add those when the time comes.

Also, as a real estate investor, you may need loan services and mortgages. If you want to keep all your banking in one place then take that into consideration as well.

You’ll also want to consider any minimum balance requirements or monthly maintenance fees. Some banks have cash or deposit limitations, so consider not only the deposits you make now, but also as your business grows.

Read more: Best Banks for Small Businesses

Why Do I Need a Business Bank Account?

When you run your real estate business as a sole proprietor, it’s easy to think you may not need a business bank account.

However, business bank accounts are a valuable addition to your business for a few reasons.

Streamline Your Business Finances

Business ownership is a far simpler endeavor when you don’t have to spend time separating your business financial transactions from your personal transactions.

Having separate accounts will help ensure your personal financial situation doesn’t affect your business financial situation, and vice versa.

At-a-Glance Business Assessment

When you keep business income and expenses separate from personal income and expenses, you’ll have a better idea of how your business is doing. 

You’ll know exactly how much money you’ve taken in for the year, and exactly what your annual expenses are.

Having a clear handle on these numbers can help you to better manage your business and, subsequently, make better business decisions.

Make Tax Time A Breeze

Having a separate business bank account for your real estate or landlord transactions helps you to keep cleaner records and make tax time easier.

Because the funds in your business account aren’t commingled with your personal monies, it will be easy to file your schedule C or other tax forms at tax time, and easier to prove which income and expense line items truly belong to your business.

Final Thoughts

The best banks for landlords and real estate investors offer low fees, manageable minimums, and additional services such as payment processing, app integrations, and lending services. 

Choosing the right bank can give your real estate business an extra leg up on the competition.