Key Takeaway
- Baselane: Specializes in free landlord banking, automated bookkeeping, and CRE loans; no account fees.
- Chase: Ideal for multifamily CRE lending; extensive branch network.
- Bluevine: Offers small business credit lines and interest-earning accounts; low fees.
- Stessa: Suitable for online rent collection; competitive rates for smaller operations.
- Bank of America: Good for business checking and CRE loans; large branch network.
- U.S. Bank: Focuses on long-term owner-occupied CRE loans; diverse banking products.
- Wells Fargo: Strong in multifamily property loans; wide range of banking services.
- Capital One: Integrates personal and business banking; low-fee business accounts.
- First Internet Bank: Online-only with full-service business lending; lower online costs.
- Ally Bank: Best for sole proprietors; competitive rates and low fees.
Real estate investing starts with setting up a bank account. There are many options, but banks that work for personal finances won’t necessarily have all the features you need to run multiple rental properties.
We’ve compiled a list of the best banks for real estate investors with the features and flexibility you need to operate a rental property business. The guide will help you find a bank perfect for your investment goals and operational needs.
Why have separate bank accounts for rental properties?
Learn how separate accounts can simplify your expense tracking and taxes.
What should real estate investors look for in a bank account?
For real estate investors, selecting the right bank account is crucial for efficiently managing and growing a rental property business. Here are key features to consider when comparing the best bank accounts for landlords:
Account fees: Choose rental property bank accounts that don’t charge fees for monthly maintenance, minimum balances, or opening new accounts.
Rewards/value: Look for a bank for real estate investors that offers high-yield savings accounts, debit card cash-back rewards, and perks.
Payments: The best bank for rental properties should facilitate sending and receiving payments with easy online transactions. This includes credit cards, debit cards, wire transfers, electronic checks, paper checks, and free ACH transfers. Note any fees or limits so you don’t run into surprise charges or unexpected transaction limits.
Virtual accounts: Baselane is one of the only online banking services offering unlimited virtual accounts for each property or unit and dedicated accounts for security deposits. Virtual Accounts are free “sub-accounts” with their own account number nestled under the Main Account.
Virtual cards: The best bank for landlords, like Baslane, will offer physical and virtual debit cards with custom spend controls and automated transaction tagging by Schedule E. Virtual cards work exactly like debit cards, only they’re on Baselane Banking instead of in your wallet. You can use virtual cards to pay online or contactless on your phone via Apple Pay or Google Pay. On the Baselane platform, you can access the unique card number, expiry date, and CVV of virtual cards.
Transaction fees: Transaction fees for sending and receiving third-party payments or online rent payments should be extremely low. The best real estate banks offer free ACH transfers and free incoming wires, with minimal fees for outgoing wire transfers.
Card services: Digital and traditional banks should offer debit and credit card services for real estate investors and include these as options for tenants to pay rent online.
Built-in expense management: Automate your bookkeeping and accounting by directly connecting rent revenue and expenses to a property and Schedule E category when using virtual cards. Automated accounting can save you from spending $20-$30 monthly on additional bookkeeping software, among other benefits.
ATM network: Most landlords don’t need to deposit cash, but the option to withdraw from convenient ATMs with no or low fees is important to some rental property business owners.
Financing options: If you need to borrow money for purchasing or renovating a rental property, it’s convenient to have real estate financing options available through the bank you use for rental property finances.
Customer service: While most banks for real estate investors come with self-service features on the web and in mobile banking apps, reliable customer support from real humans should be easily accessible. Having a landlord bank with customer service available for longer or more days and hours is a plus.
Real estate investment bankers who can create separate accounts for each property and collect rent online can simplify rental finances. Built-in bookkeeping is another feature to look for rather than paying an arm and a leg for an accountant or third-party accounting tool.
Best Banks for Real Estate Investors
Without any further ado, here’s our list of the 10 best banks for real estate investors.
Baselane: Best for free landlord banking, built-in automated bookkeeping, and CRE loan products
Baselane banking is created specifically for real estate investors. As the best bank for landlords, you can handle all your property finances on a single platform with no account fees, a high yield of 4.19% on all balances (including business checking accounts), and up to 1% cash back on your debit card.
In addition to everything you would expect from an online bank, Baselane offers virtual accounts and debit cards, integrated rent-collection tools, and automated bookkeeping services that make tax time a breeze.
| Account Fees | No fees for regular banking activities |
| Rewards/Value | Earn up to 5% cash back and interest rates equivalent to high-yield savings accounts. |
| Multiple payment methods | |
| Virtual accounts | - Unlimited |
| Virtual cards | Up to 10 per account plus 10 per virtual account |
| Built-in cash management (automated bookkeeping) | |
| Transaction fees | No fees for ACH transfers to the landlord or 3rd parties. No fees for incoming and outgoing domestic wire. |
| Card services | Cash back debit card |
| ATM network | 55,000 no-fee Allpoint ATMs |
| Financing options | Landlord-specific lending |
| Customer service | Phone, Email, Chat |
Chase: Best for CRE multifamily lenders with business checking and credit cards
Chase is one of the biggest and most recognizable names in banking, partially due to a massive network of branches stretching across the country. Chase Bank operates more than 4,700 branches in the United States. While most landlords today don’t need to visit physical branches, Chase is a good option if that’s important to you.
Due to its size, Chase offers robust lending products, including home mortgages and business loans. However, you’ll generally see unfavorable interest rates and high fees unless you meet certain minimum monthly requirements. These requirements can include maintaining a $2,000 minimum daily balance or using a Chase Ink credit card for at least $2,000 in monthly purchases.
| Account Fees | Monthly fee can be waived with minimum balance |
| Rewards/Value | N/A |
| Multiple payment methods | Available with some accounts |
| Virtual accounts | |
| Virtual cards | |
| Built-in cash management (automated bookkeeping) | |
| Transaction fees | Varies by transaction type. ACH: $0.15 each after first 25 each month. 1% fee up to $25 for same-day ACH. Wire transfer fee up to $40 |
| Card services | Debit, credit |
| ATM network | 16,000 |
| Financing options | Extensive |
| Customer service | Phone, Secure message, In-person |
Bluevine: Best for small business line of credit with interest-earning checking accounts
Bluevine is an online bank for small businesses. While it’s missing landlord and property investment features, it does a good job of offering accounts with low fees and interest on all balances. Bluevine also doesn’t charge monthly fees for real estate bank accounts.
A standout feature is the Bluevine line of credit product. This loan works like a credit card, with credit lines available up to $250,000 for qualifying applicants. Every time you tap into the credit line, that draw is amortized to automatically pay back with weekly or monthly payments over six or 12 months.
| Account Fees | No monthly fees |
| Rewards/Value | All accounts earn high-yield interest rates. |
| Multiple payment methods | Accountant-specific version available |
| Virtual accounts | |
| Virtual cards | |
| Built-in cash management (automated bookkeeping) | TBD |
| Transaction fees | Fees for less common activities–$15 outgoing wire transfer fee. No fees for ACH or incoming wire transactions. |
| Card services | Debit card |
| ATM network | 40,000 no-fee MoneyPass ATMs |
| Financing options | Business line of credit |
| Customer service | Phone, Email |
Stessa: Best for online rent collection with banking products
Roofstock subsidiary Stessa is a bank designed for landlords. It offers accounts with low fees, competitive interest rates on all balances, and helpful features for property management. Larger operations won’t be able to use Stessa due to a limit of $500 per day and $4,000 per month in outgoing ACH transactions.
The online rent collection platform enables landlords and tenants to set up automatic rent payments and real-time notifications for rent payments. However, Stessa doesn’t offer automatic late fees or support debit and credit card payments like Baselane.
| Account Fees | No monthly fees |
| Rewards/Value | High yield APY on cash balances |
| Multiple payment methods | |
| Virtual accounts | |
| Virtual cards | |
| Built-in cash management (automated bookkeeping) | |
| Transaction fees | No fees for common activities |
| Card services | Debit |
| ATM network | None - Can use outside ATMs for a fee |
| Financing options | No |
| Customer service | Phone, Email |
Bank of America: Best for business checking, business support, and CRE loans
Bank of America is among the nation’s largest brick-and-mortar banks, and one of the largest banks in the world. It operates a network of about 3,900 branches nationwide. Bank of America offers accounts for nearly every type of personal or business financing need, including checking, savings, and commercial real estate (CRE) loans.
However, this real estate bank is also known for low APY interest rates on savings and high fees if you don’t meet the $5,000 monthly balance requirement or use a Bank of America debit card for at least $250 in monthly purchases. Fees are waived on Preferred Rewards for Business Member accounts, regardless of your balance and debit card activity.
| Account Fees | $16 monthly fee can be waived with a minimum balance of $5,000 |
| Rewards/Value | Rewards program for loyal customers with high balances of at least $20,000 |
| Multiple payment methods | Available with some accounts |
| Virtual accounts | |
| Virtual cards | |
| Built-in cash management (automated bookkeeping) | |
| Transaction fees | ACH: $0.45 each after first 200 Cash deposits: 0.3% cash deposit fee after first $7,500 Wire transfer: Fees so high they are not disclosed |
| Card services | Debit, credit |
| ATM network | 16,000 |
| Financing options | Extensive business and property lending credit lines, auto loans, SBA loans, and commercial real estate loans |
| Customer service | Phone, Chat, Email, In-Person |
U.S. Bank: Best for long-term owner-occupied CRE loans
U.S. Bank is the fifth-largest bank in the United States, operating more than 2,200 branches. It is a strong choice for owner-occupied commercial real estate loans and offers various personal and business banking products. You can find checking and savings accounts, credit cards, property loans, and more at U.S. Bank.
Like other large brick-and-mortar banks, interest rates are unfavorable for savings. You will likely encounter monthly maintenance fees of up to $30 depending on the type of account unless you maintain a high collective balance across U.S. Bank accounts. It could be a good choice if you’re looking for this specific type of real estate loan or find U.S. Bank particularly convenient.
| Account Fees | Monthly fee of $0 to $30 can be waived with a minimum balance of at least $10,000 depending on account type |
| Rewards/Value | N/A |
| Multiple payment methods | Available with some accounts |
| Virtual accounts | Available with some accounts |
| Virtual cards | Available with some accounts |
| Built-in cash management (automated bookkeeping) | |
| Transaction fees | $0.40 to $0.50 per transaction once you go over the monthly limit (125 to 500 transactions depending on the account) Wire transfer: $14 to 75 |
| Card services | Debit, credit |
| ATM network | 4,500 US Bank and all MoneyPass ATMs |
| Financing options | Owner-occupied investment property loans, SBA loans, conventional loans |
| Customer service | Phone, In-person |
Wells Fargo: Best for CRE loans for multifamily properties
Wells Fargo is a top-five bank in the United States and operates 4,600 branches nationwide. With the second-largest number of bank locations, there’s a good chance you live or work (or invest) near a Wells Fargo branch. It’s strong in offerings for multifamily property loans and provides a suite of products that should cover the needs of any real estate investor.
Again, you’ll find low APY interest rates on savings, high fees, and minimum balance requirements to avoid monthly charges. For the basic business checking account, you’ll pay $10 per month unless you maintain a minimum $500 daily balance and a $1,000 average ending daily balance. But it could be a good pick if you’re looking for a big commercial loan or find Wells Fargo convenient.
| Account Fees | $10 monthly fee can be waived with a daily minimum balance of $500 and $1,000 average daily ending balance |
| Rewards/Value | N/A |
| Multiple payment methods | Available with some accounts |
| Virtual accounts | Savings goals feature |
| Virtual cards | For some accounts |
| Built-in cash management (automated bookkeeping) | |
| Transaction fees | $0.50 for all transactions after the first 100 Cash deposits: 0.3% for over $5,000 |
| Card services | Debit, credit |
| ATM network | 12,000 |
| Financing options | CRE financing, SBA loans, credit lines, rewards credit cards |
| Customer service | Phone, In-person |
Capital One: Best for personal and business banking with one login
Capital One is a bank with high-tech features for personal bank accounts while also offering a strong suite of business services. For real estate investors, you can find checking, savings, and lending alongside excellent low-fee personal checking and savings accounts.
You can transfer between personal accounts quickly and easily. Business accounts come with generally low fees, though you’ll still see a monthly fee unless you maintain a minimum balance. The monthly fee is $15-$35 per month, depending on the account, and requires a high average daily balance.
| Account Fees | $15 monthly fee can be waived with an average $2,000 minimum balance |
| Rewards/Value | Competitive interest rate on savings accounts |
| Multiple payment methods | Available for some accounts |
| Virtual accounts | |
| Virtual cards | |
| Built-in cash management (automated bookkeeping) | |
| Transaction fees | Wire transfers: $15 to $25 Cash deposits: .1% over $1,000 |
| Card services | Debit, credit |
| ATM network | 70,000 with MoneyPass and Allpoint |
| Financing options | Real estate, line of credit, SBA loans, term loans, credit cards |
| Customer service | Phone, In-person, Email |
First Internet Bank: Best digital-only bank with full-service business lending
First Internet Bank is an online-only bank that offers full-service business lending. While many online banks focus on consumer banking needs, First Internet Bank covers a wide range of business financing needs.
For real estate banking services, you have options for online checking, business lending, and commercial real estate lending products. First Internet Bank offers an impressive array of products that look more like many brick-and-mortar competitors but with lower costs of online-only banking, such as no recurring account fees and reimbursements for using other bank ATMs.
| Account Fees | No monthly fees |
| Rewards/Value | Some accounts earn interest |
| Multiple payment methods | |
| Virtual accounts | |
| Virtual cards | |
| Built-in cash management (automated bookkeeping) | |
| Transaction fees | Various |
| Card services | Debit, credit |
| ATM network | $10 monthly reimbursement for out-of-network ATMs |
| Financing options | Owner-occupied real estate, SBA loans, term loans, lines of credit, |
| Customer service | Phone, Email |
Ally Bank: Best for sole proprietorships
Ally Bank offers one of the best personal checking accounts nationwide and features personal loans, mortgage loans, and other personal banking products that rank among the best in class. While that doesn’t include business banking and lending products, some newer landlords operating under their own name may be happy with Ally’s offerings.
Running a business without an LLC or another entity has risks. But as a new real estate investor or landlord, you may choose to run a business under your name rather than a registered business name. Ally Bank’s low fees and competitive interest rates make it a great option if you do so. There is no recurring monthly fee, regardless of your balance.
| Account Fees | No monthly fees |
| Rewards/Value | High interest rates |
| Multiple payment methods | |
| Virtual accounts | |
| Virtual cards | |
| Built-in cash management (automated bookkeeping) | |
| Transaction fees | Low fees |
| Card services | Debit |
| ATM network | 43,000 Allpoint ATMs and $10 monthly reimbursement for out-of-network ATMs |
| Financing options | Personal mortgage, personal loans |
| Customer service | Phone, Chat, Email |
Bottom Line
When managing your rental properties, the right bank can make all the difference. Baselane is the best bank for landlords, offering an all-in-one solution for banking and accounting. It provides low fees, high-interest rates, and specialized features like built-in cash management and reporting, all designed to grow your real estate investment business.
Get Baselane today and start optimizing your real estate finances.
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FAQs
What do you need to open a bank account for real estate investing?
To open a new business bank account for real estate investing, plan to supply your personal contact information, business formation documents (such as articles of incorporation), and your business Employer Identification Number (EIN). Opening a new Baselane bank account takes about two minutes if you have your information handy.
How to choose the best real estate bank?
When looking for the best real estate bank, consider the costs, interest rates, and features you need to run your rental property business. A bank with no monthly fees or minimum balance requirement, high APY interest rates on account balances, and the ability to collect rent and track your finances are all important features for real estate investors.
What is the best bank for real estate investors?
Banks for real estate investors should offer no bank-imposed fees, competitive interest rates on cash balances, and features to help you collect rent and understand your cash flow, all with one login.
While we may be biased, we think Baselane is the best landlord and real estate banking available today. But regardless of whether you go with us (we hope you will!), any of the 10 banks on this list could meet your needs as a real estate investor.
What is a virtual account?
Virtual Accounts are a simple yet powerful feature of Baselane Banking that allows you to keep your finances organized and funds separated. Virtual Accounts act as “sub-accounts” with their own account number nestled under the Main Account. Virtual Accounts are free and can be opened with a click of a button.
How are virtual accounts used?
For example, if you open a Baselane Banking account for an LLC that owns two properties, you can open a Virtual Account for each property, a separate Virtual Account for security deposits, and an additional Virtual Account for savings to use for a future remodel.
Here is a summary of what Virtual Accounts offer:
- Virtual Accounts are free and can be opened with a single click.
- They allow you to keep your finances separated for security deposits, different units, savings, etc.
- You can automate bookkeeping by enabling auto-tagging for all transactions of a Virtual Account to a specific property or unit.
- Earn interest at 82.5x the national average, with 4.19% APY (including on security deposits).
What is a virtual card?
Virtual Cards were built by Baselane to offer our customers a flexible and secure way to manage their spending and help automate bookkeeping. Read below for the top benefits of virtual cards:
Banking built for real estate
- Multiple accounts per property
- No monthly fees or minimum balances
- Earn up to 4.19% APY2 and up to 5% cash back3
