LLC Created But, Where To Conduct Business Banking

[Shant Kallibjian]

Hi BP Community !!

Need some advice - I have 3 properties and, have created an LLC for one of them. I am "testing the waters" before fully adding the remaining two into individual LLCs, as this is my first time doing this.

The property is in Memphis, however I live in Los Angeles. There are a couple of credit unions and small banks, which I can join to use their business banking services, even though I am not a resident of TN. OR, I can always go to Chase or BOA for their business banking options as they are national.

My question is which one is the better choice? Yes, there will be limitations of a TN financial institution as I live in CA, and I have read articles about potential tax and filling season issues if you bank outside the state where the business is registered. 

Thank you - Shant