Best Banks for Real Estate Investors & Landlords in 2024

Being in the real estate business requires solid business banking and a good lender.

Fortunately, many banks realize how important real estate investing can be and offer several real estate financing options along with a wide selection of business banking products.

We’ve reviewed the best banks for real estate investors and provided tips to help you choose the right one for your needs.

9 Best Banks for Real Estate Investors & Landlords

Here are the best banks for real estate investors to open an account with today:

  1. Baselane
  2. Stessa
  3. Bank of America
  4. Bluevine
  5. Chase
  6. Capital One
  7. First Internet Bank
  8. US Bank
  9. Wells Fargo

1. Baselane

  • Pro: Solid cashback rewards and APY
  • Con: Only offers one bank account

Baselane offers one high-yield checking account for landlords. The account is FDIC-insured up to $2.5 million through its partner Thread Bank and comes with a competitive 4.19% APY on all account balances. You can also earn up to 5% cash back on purchases made with the Baselane business Visa card. The Baselane bank account has no monthly maintenance fees, minimum deposit, or balance requirements.

Additionally, you can send and accept ACH payments, make mobile check deposits, and make transfers to other Baselane accounts.

As a uniquely real estate banking app, Baselane provides useful banking features for landlords. You can easily divide your checking account into sub-accounts for each property and earmark accounts for security deposits.

Baselane Credit Cards

Currently, Baselane doesn’t offer any credit cards. However, it does partner with Simplist to provide rental property loans to real estate investors. And you can get a Baselane Capital line of credit of up to $10 million to fund property investments.

Baselane Business Services

In addition to its checking account and loans, Baselane offers a useful collection of services for active real estate investors. That includes automated rent collection services, landlord insurance, and bookkeeping software.

Baseline’s accounting software can help simplify cash flow reporting, income statements, expense reporting, and tax filing.

Baseline packs a powerful punch if you’re looking for a rewards checking account and tools to streamline property management in one place. And as of now, the service is completely free.

2. Stessa

  • Pro: Competitive APY
  • Con: No lending products

Stessa is another platform tailored to landlords. It offers one business bank account, the Stessa Cash Management Account. Premium users earn 5.06% APY, while the free account earns 3.08% APY. Most debit card purchases earn 1.10% cashback as well.

Similar to Baselane, Stessa aims to keep fees to a minimum. It doesn’t charge bounced check, inbound wire, or monthly maintenance fees. And there are no account minimums to worry about.

While there’s no option to deposit cash, you can make mobile deposits. You can also open accounts for each of your properties or portfolios and get real-time financial insights and reporting data.

Stessa Credit Cards

If you want a business credit card for your real estate ventures, you’ll have to look elsewhere.

Stessa currently doesn’t offer any credit cards, loans, or lines of credit. However, members can compare mortgage quotes from lenders when they’re signed into the platform.

Stessa Business Services

Stessa stands out for its business services, offering a comprehensive suite of tools geared toward real estate investors.

You can enjoy automated accounting that makes expense reporting easier. When you connect your bank accounts, Stessa will import and categorize your expenses and income, displaying them in user-friendly dashboards.

The platform also provides tools to make your day-to-day duties as a landlord easier. You can screen tenants, collect rent, and even build out rental application forms from your Stessa dashboard.

Stessa’s free Essentials Plan gives you access to a bank account, tenant screening, rent collection, and bookkeeping services. For $20 per month, the Pro Pland gives users some perks like higher APY,  more in-depth analytics, and unlimited smart receipt scanning.

3. Bank of America

  • Pro: Large selection of accounts and services
  • Con: Low interest rate on accounts

Bank of America offers two different business checking accounts. As the name suggests, the Business Advantages Fundamentals Banking account has the basics. However, it does offer quite a bang for the buck.

The monthly fee is $16 – but if you meet the set requirements, the bank will waive it. You also get 200 transactions per month for free (transaction fees apply after that).

The Business Advantage Relationship Banking account will set you back $29.95 per month, which is waived if you meet the minimum balance requirement. This account offers 500 free monthly transactions, a free second checking account, and a free savings account.

There’s also a savings account with APY that ranges between 0.01% and 0.04%. The monthly fee is $10 and is waived when you meet any of the available requirements. There’s a minimum opening deposit of $100, and transactions are limited to 6 per statement cycle.

Bank of America Credit Cards

Bank of America also has a selection of six business credit cards, including rewards, lower interest, and credit-building cards, among others. APR varies depending on the card and other factors. You may be able to get a statement credit bonus of $300 when you apply for a new card.

BoA Business Services

Bank of America offers business banking services that real estate investors will find useful, including loans, lines of credit, and cash flow monitoring.

4. Bluevine

  • Pro: No monthly fees or overdraft fees
  • Con: No credit cards

Bluevine offers one business bank account. While it’s primarily a checking account, it offers a healthy interest rate with some restrictions. The account has no monthly fee and no requirements to meet. There is no minimum opening deposit requirement either, which makes things easy.

The account comes with a debit Mastercard. Spending $500 per month through this card or receiving a minimum of $2,500 monthly in customer payments earns you an interest rate of up to 2.00% APY on the first $250,000.

While there’s no interest on amounts over and above this limit, it’s still considerably higher than what most business savings accounts from traditional banks offer. The account has no transaction limits, and ACH transfers, overdrafts, and incoming wires are all free. QBO integration is free as well. While there is a fee, you can also send international payments to 26 countries, with eight currencies to choose from.

Bluevine Credit Cards

Unfortunately, Bluevine does not offer a credit card at this point. However, you can link an external credit card and use it with Bluevine’s Bill Pay.

Bluevine Business Services

Bluevines also offers a line of credit up to $250,000. APR interest rates start at 4.8%, and approvals are very fast. You can get a decision in as little as five minutes.

You need to have a minimum of $10,000 in monthly revenue, a FICO score of at least 625, and to have been in business for six months or longer.

5. Chase

  • Pro: Large selection of rewarding accounts and credit cards
  • Con: High monthly fees, with no refunds on third-party ATM fees

J.P. Morgan Chase offers a selection of three different business checking accounts with monthly fees ranging between $15 and $95,  all of which can be waived. The criteria for waiving the fee change from one account to the next, with minimum daily balance requirements ranging from $2,000 to $100,000.

Transaction limits also differ by account, starting at 20 free teller and paper transactions for the Business Complete Banking account and maxing out at 500 free monthly transactions for the Chase Platinum Business Checking.

Transaction fees apply once you reach the maximum. All accounts come with cash flow management tools, online and mobile banking, and many other perks. Chase also offers up to a $500 bonus for those opening a Chase Business Complete Banking account.

Chase also offers two savings accounts with APY between 0.01% and 0.02%. The Chase Business Total Savings account has a monthly fee of $10 and $5,000 worth of free cash deposits, while the Business Premier Savings account has a monthly fee of $20 and offers $10,000 worth of free cash deposits. The bank will waive both monthly fees if you meet the criteria.

Chase Credit Cards

Chase has a selection of nine different business credit cards, all of which have a welcome offer. Annual fees vary by card, while the APR varies by card and creditworthiness.

Chase Business Services

Chase also offers a wide range of business-related products and services, including the ability to accept credit card and debit card payments, loans, financing, fraud, and security services, and collect and deposit services, among others.

Chase Business Complete Checking® Logo

$400

Chase : Business Complete Checking®
Available nationwide

Details

6. Capital One

  • Pro: Good selection of accounts and services
  • Con: Minimum opening deposit requirement

Capital One offers a whole range of business financial products and services. You can choose accounts individually or use their configurator. Available options include:

  • Manage cashflow
  • Bank digitally
  • Invest in my business

There are two business checking accounts: Basic Checking Account and Unlimited Checking Account. The basic account has a $15 monthly fee, but you won’t have to pay that if you maintain an average balance of $2,000 over a 30 or 90-day period.

Free cash deposits are limited to $5,000, incoming domestic wires cost $15, and outgoing wires cost $25.

The Unlimited Checking Account has a monthly fee of $35. However, you can avoid paying it if you maintain an average balance of $25,000 over a 30 or 90-day period. Domestic wires are free, and cash deposits under $40,000 are free.

The Savings account comes with a promotional interest rate for the first 12 months and includes six free monthly withdrawals. You can waive the $3 monthly fee when you maintain a minimum balance of $300.

Capital One Credit Cards

Capital One has six business credit cards. All the cards come with either cash back or miles rewards. APR interest rates vary between 0% (you must pay the balance in full every month) and 26.99% – depending on which card you choose and your credit score.

The minimum credit level to qualify is fair, which translates to having a limited credit history or defaulting on a due payment in the past five years.

Capital One Business Services

Capital One also offers a wide range of business services and financing options, including loans dedicated to real estate, including loans for purchasing, refinancing, or making property improvements. The bank also offers lines of credit, merchant, and escrow services.

Tip: Open a Small Business Credit Card To Earn Some Easy Cash

Compare Today's Best Business Credit Card Offers

7. First Internet Bank

  • Pro: No-fee accounts
  • Con: No physical branch locations

First Internet Bank offers two business checking accounts. The “Do More” Business Checking account aims to grow businesses and has no monthly fee or minimum balance requirements. You also get unlimited transactions.

Keeping your average daily balance at $10,000 or higher will earn an APY interest rate of 0.50%. The account also includes up to $10 in reimbursements for out-of-network ATM charges.

If your financial requirements are more complex, you can opt for a Commercial Checking account. Here, you can use features such as Remote Deposit Capture (RDC for short), Sweep Services, Check Positive Pay, and many others.

You also access dedicated banking experts, treasury management, and merchant services.

First Internet Bank also offers regular savings and money market accounts. The savings account has a monthly fee of $2.00, which you can avoid when you maintain an average daily balance of $1,000. The interest rate is 0.90% (APY), and the minimum opening deposit is $100.

First Internet Bank Credit Cards

While First Internet Bank offers personal credit cards, it does not offer business credit cards at this time. However, there is a dedicated Commercial Real Estate Lending service to help with debt restructuring, counseling, underwriting, and servicing loans.

First Internet Bank Business Services

Aside from Commercial Real Estate Lending, First Internet Bank offers several loan options, including SBA (Small Business Administration) lending, commercial lending, and financing for public projects. They also offer loan options for properties, including retail, office, industrial, and multifamily constructions.

8. US Bank

  • Pro: Free checking account with 125 fee-free transactions
  • Con: Cash deposit fee after $2,500 per month

US Bank offers many business checking accounts, starting with the Silver Business Checking Account Package. This account has no monthly fee and offers 125 fee-free transactions per month. You also get up to $2,500 in free cash deposits or 24 cash transactions for free, whichever limit you hit first.

If these limits are too restrictive, you can opt for either the Gold package or the Platinum package. Remember that these accounts have a monthly fee of $20 and $30, respectively. The fee is waived when meeting the bank’s criteria.

US Bank also offers a traditional business savings account, Money Market, and CD accounts.

You can currently earn up to a $750 US Bank bonus when you open a business checking account and complete qualifying activities.

US Bank Credit Cards

US Bank offers a selection of three credit cards and one co-branded credit card in partnership with Korean Air. These cards provide introductory offers, including extra cash back, rewards, or an extended 0% introductory APR.

US Bank Business Services

US Bank offers other products and services, including loans for purchasing investment properties, business loans, cash management, credit lines, and more.

9. Wells Fargo

  • Pro: Easy to waive monthly fees
  • Con: Only 100 fee-free transactions

Wells Fargo offers three business checking accounts to help you at different stages of your business journey.

The Initiate Business Checking account is great if you’re just starting out. It has a monthly fee of $10, which is waived when you maintain a minimum daily balance of $500 or an average ledger balance of $100. The minimum opening deposit is $25.

If you’ve been in business for a while, you may opt for Navigate Business Checking or Optimize Business Checking instead.

While these accounts have a higher monthly fee, they also have more perks and features, including the ability to earn interest, get free incoming domestic and international wires, and access to Treasury Management, among others. The features you get will depend on which account you choose.

Wells Fargo offers two traditional savings accounts and CDs for businesses. Monthly fees for the savings accounts start at $5.00, while the APY interest rate is 0.01% across the board.

Wells Fargo Credit Cards

Wells Fargo offers two business credit cards. Both cards have a new customer offer to sweeten the deal and come with 1.5% cash back and other perks and features.

Wells Fargo Business Services

Wells Fargo also offers commercial real estate financing for purchasing, refinancing, and borrowing options against the equity you hold. Other than this, you’ll find merchant services, credit lines, and other loans.

How to Choose the Best Bank For Real Estate Investment

Keep the following factors in mind to choose a bank as a real estate investor:

  • Online banking: Online banking can help business owners do more on the go, like making monthly payments, general business banking, and everything in between.
  • Monthly transactions: Most accounts come with a limited number of transactions, with applicable fees once you’ve reached the limit.
  • Deposit limits: Many accounts limit how much money you can deposit in a month for free.
  • Line of credit: Access to a line of credit can be useful to tide you over and help you improve your cash flow
  • FDIC insurance: Always ensure your mortgage lender is FDIC-insured so your money remains protected if the financial institution fails.
  • Loan requirements: Banks can have stringent requirements when giving out loans. Whether you’re looking for a loan to purchase an investment property, refinance an existing piece of real estate, or buy apartment buildings, eligibility is a big factor to keep in mind.
  • Fees: Look out for monthly and ATM fees and additional fees, such as closing costs.

Frequently Asked Questions

What is the best bank for a real property?

Overall Baselane and Stessa are the best banks for rental properties, providing interest-bearing checking accounts, rent payment processing, and bookkeeping.

Ultimately, which bank is right for you depends on your priorities, from having branch access to earning higher APY or accessing bookkeeping services.

Can I get a loan to purchase an investment property?

Yes, many banks offer dedicated loans for those looking to purchase an investment property. With many banks offering financing options for different types of assets, such as rental property, you can easily find such loans.

Is it better to have a separate bank account for rental property?

It’s usually best to open a separate bank account for any rental properties. This can streamline accounting, making it easier to track your operating expenses and income and better prepare yourself for tax time.

How many bank accounts should I have for my rental property?

You should have at least one separate bank account as a real estate investor. You may want to open additional accounts for each real estate property you own. Platforms like Baselane and Stessa make it easy to divide up accounts for each of your properties.

Bottom Line

Having a reliable business bank account with convenient features can be a game-changer for real estate investors.

When everyone from your local credit union to large national banks and online platforms offers business services, choosing the right one can be easier said than done.

It’s important to compare the fees, perks, and services of each bank to choose the right one. Think about which features matter most to you, and choose a bank accordingly.

Each of the banks in this review offers unique advantages that can benefit your real estate venture for years to come.

Our Methodology

The BankBonus team has analyzed dozens of banks to provide our readers with thoroughly informed and accurate reviews.

To determine the best banks for real estate investors, we evaluated digital financial platforms, online banks, regional banks, and national banks across several metrics.

Our assessment factored in these considerations:

  • Product lineup: We reviewed the types of accounts, loans, and services offered by each bank, as well as the number of accounts.
  • Fees and pricing: We also considered each company’s fees, including monthly maintenance fees and other service charges.
  • Account features: To compare banks, we took a close look at the features, limits, and capabilities each one has to offer, paying close attention to features like accounting, property management, and rent collection.
  • Interest: Along with these features, we considered whether or not the bank offers interest-bearing accounts and compared their rates to industry averages.
  • Brand reputation: The bank accounts we recommend have been carefully vetted to ensure they are legitimate, secure, and backed by FDIC
  • User Experience: Additionally, we considered the ease of use and availability of resources on each bank’s website and factored in reviews of the mobile app from the Apple App Store and Google Play store.
  • Branch and ATM access: To gauge convenience, we also looked at each bank’s branch and ATM availability and considered their ATM reimbursement policies.
  • Customer service: In our review process, we also explore their customer service channels, hours of availability, and third-party reviews.

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