San Francisco, CA · Member since 2016 · 2 posts · 2 votes
I am seeking investor friendly business checking accounts to host my RE holding LLC checking accounts. I am reaching out to the community to see if anyone has good suggestions after repeatedly getting burned by Chase business accounts.
Needs to include:
* Strong mobile app with strong security (ideally 2 factor auth, no security codes via txt)
* Support wire transfers in as simple way as possible (perfection would be either calling to set up wire, or securely establishing on-file wire recipients, and a secure 2nd channel wire approval method -- a push request to a secure app for example which MSDW does)
* Support ACH (ideally no fee)
* Support SANE loss prevention policies, that learn from my behavior. I want to be safe but I don't want every other significant wire to get blocked by a loss prevention hold (thanks Chase)
I am willing to maintain a sane amount of minimum daily balance to get the low fee structure, but I'm running an investment business not a cache holding business so it can't be more than 50k.
Rental Property Investor · St. Louis, MO · Member since 2014 · 741 posts · 424 votes
5y
@Paul Germano My business accounts (checking, savings and CC) are with US Bank. Everything is free. I forget the minimun balance but with my tenant's security deposits sitting in the savings acct. I have rarely paid any fees. There was a wire transfer fee from checking to an IRA member's acct. Bill pay is seamless and free. Love Zelle because many of my tenant's are in that platform for payment transfers. They (my personal banker) also encouraged me to apply for an SBA line of credit. That was sweet for rehab funds.