Business Bank Account for Real Estate Business

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AtlantaFamily-2013
Posts: 42
Joined: Wed Apr 10, 2013 12:02 am

Business Bank Account for Real Estate Business

Post by AtlantaFamily-2013 » Fri Feb 14, 2020 10:17 am

Hello All.. I have formed a real estate business (Buy and Sell) here in Atlanta. Im looking to set up a business account and not really sure on who to go with. My personal checking and savings is with Bank of America. I have never really had any issues with them but wanted to get some opinions on other banks to possibly use for business. Any bank suggestions for start up business, or some that may be beneficial to a real estate business? Any help would be appreciated. Thanks!

Carefreeap
Posts: 2679
Joined: Tue Jan 13, 2015 7:36 pm
Location: SF Bay Area

Re: Business Bank Account for Real Estate Business

Post by Carefreeap » Fri Feb 14, 2020 10:52 am

I have used BofA for my properties. I don't have business accounts but at one time I had 5 personal accounts (one for each property) and a savings account which we used for capital improvements. It's not so common now but I liked having a brick and mortar with a large retail presence in order for my tenants to deposit a check directly into the property account.

And while BofA may not be the most competitive with rates et cetera, I value the convenience.

The bulk of our investments are with Fidelity and our main banking is with USAA.

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