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Updated 5 months ago on . Most recent reply

User Stats

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Jacob P.
  • Investor
  • Brooklyn, NY
6
Votes |
48
Posts

Bank that works well with multiple accounts

Jacob P.
  • Investor
  • Brooklyn, NY
Posted

Hi all,

Question pretty much as in the title.

We have 3 rental properties. Looking to balance Keeping It Simple and being on top of things.

For years, we used Ally. What I loved about them was that each property could have it's own checking account. All expenses would go on each account and it made year end accounting very easy.

Ally alerted us that they are closing our accounts due to our failure to "properly secure" our accounts. I have no idea why (never had a single fraud issue), but after spending several hours going down the rabbithole of figuring why this happened, we just want a solution.

Some of the other banks we are with seem to make it overly complicated to have more than a single account.

Any recos? Or other solutions we should consider?

Most Popular Reply

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3,815
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Evan Polaski
#5 Multi-Family and Apartment Investing Contributor
  • Cincinnati, OH
3,473
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3,815
Posts
Evan Polaski
#5 Multi-Family and Apartment Investing Contributor
  • Cincinnati, OH
Replied

I use Chase.  Along the lines of Simon's comment: my family's bank account is on the personal side, and my rental properties have business checking accounts.  

I like it because, I access all of them through a single login from the app.  I can mobile deposit rent checks into the correct ones from the app, I can transfer money from any one account to another all from the app.  And I even have a brokerage account with them, that I can also manage from the single login on the app.

  • Evan Polaski
  • [email protected]
  • 513-638-9799
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