Texas Series LLC - Bank Account Recommendation?

6 Replies

Hi Texas investors! 

Can anyone recommend a bank in Texas that will allow me to setup separate checking accounts for each Series of my LLC? 

  • I've setup an LLC with a separate series for each of my rental properties (2 so far)
  • I would like to set up a separate checking account for each series of the LLC.
  • Chase Bank told me that they do setup accounts at the series level. 
  • If posting a recommended bank, can you also please include what their balance minimums and/or monthly fees are? 
  • I'm based in Austin and currently have properties in Houston and Killeen. 

@Andrew W. I have a similar setup - One series LLC to One bank account. To managed it a bit easier (when you grow to more than a dozen), it'll be better to have one online login and manage all 'child' accounts. Bank of America does this - not sure about the minimums, but if you have a good relationship with your local branch, they can waive the monthly fees until your balance grows from rental income.

Hi guys, I know this is an old thread, but I'm having an issue with finding a bank suitable for my series LLC. (I'm in Austin TX similar to Andrew). Bank of America told me no... any luck with other branches?

Simple answer - avoid the mega banks. They aren't set up for this. Go work with community banks, regional banks, and local credit unions. You should find several good options.

I have separate checking accounts for each property in my series LLC; I use Citibank. They were only bank I could find that would open multiple checking accounts under one EIN. I'm just not sure how easy you can find one in TX. My properties are in TX, but I live in NV. I also use the Costco/Citibank VISA cash back card to pay for expenses.

I read on JP Morgan Chase's site that they could do the same, but I just haven't spoken to them yet to confirm. Good luck!