Online bank vs brick and mortar ???
Good Afternoon BP Community!!
So we are about to close on our first rental property!!! YAY!!!
In doing so we are trying to get all our ducks in a row and be ready for this. We know we need a seperate account for the "business" that is not our personal account, not a problem. (as well as an escrow account for deposits...). I remember hearing on a podcast this summer (was listening in on a friends on a car trip so I don't know which one to go back and find it...) about someone who used Online banks. One reason was the % on interest was higher.
So what are everyone's thoughts on using an online bank vs. a local or national bank with a brick and mortar location?
Thanks in advance!