About accepting rent online

[Michael Perry]

So My first property ever should be closing in the beginning of October... Yay!!

But I'm not sure what to do here. I want to set up an online rent collection account. Maybe with Cozy. I went to my bank and asked them to open a second bank account for me with a completely different account number. They told me no, they can't do it. They said if I form an LLC / Corporation then they will open a business account for me. But they won't allow a private individual to have a second separate bank account with a different account number.

I'm being told that I shouldn't put my property into an LLC until it has no more loan obligations (I probably won't be alive that long).

What should I do? I don't want my tenants to have my personal account and routing number. I don't think I want to form an LLC without putting a property under it. I was thinking I could just open another bank account at a different bank. Is that my best option?

Please let me know what you all think.

Mike Perry