Last Updated: 04/18/2025
LendingClub Tailored Business Checking Account
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Last Updated: 04/18/2025
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Highlights
Monthly Service Fee
$0 - $10(Verified 03/19/2025)
ATM Fee: Out-of-Network (within the U.S.)
Starting at $0
Minimum Average Balance to Avoid Monthly Service Fee
Starting at $5,000
APY (Annual Percentage Yield)
0% - 0.1%(Verified 06/21/2024)
LendingClub Tailored Business Checking Account Review
LendingClub Tailored Business Checking Account is offered by LendingClub Inc, a marketplace lending platform founded in 2007 and based in San Francisco, CA. LendingClub Tailored Business Checking is available in 50 states and Washington, DC.
Key Takeaways
- Low annual percentage yield (APY). The maximum annual percentage yield for this account is only 0.1% .
- Charges a monthly fee. This account charges a monthly fee of up to $10, but the fee may be waived if you keep a minimum balance of$5,000.
- $100 minimum opening deposit. This is a typical minimum initial deposit.
- No ATM fees. LendingClub Tailored Business Checking Account does not charge fees on ATM transactions .
- ATM fee rebates. This account will reimburse you for ATM fees (see terms and conditions for details).
- Bill pay. Pay your bills to practically anyone in the United States when you enroll in LendingClub Inc mobile or online banking.
LendingClub Tailored Business Checking Account Pros & Cons
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LendingClub Tailored Business Checking Account FAQ
Are business checking accounts from LendingClub Inc federally insured?
Yes, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
What APY does LendingClub Tailored Business Checking Account offer?
LendingClub Tailored Business Checking Account offers an APY starting at 0% and ranging up to 0.1% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $5000.
| Rates | Amount |
| APY (Annualized Percentage Yield) | 0% - 0.1% |
What are the account minimums for LendingClub Tailored Business Checking Account?
LendingClub Tailored Business Checking Account requires a minimum initial deposit of $100 to open an account.
| Description | Amount |
| Minimum Initial Deposit | $100 |
| APY Minimum Balance | $5,000 |
| Minimum Balance to Avoid Monthly Fee | $5,000 |
What fees does LendingClub Tailored Business Checking Account charge?
This account charges a monthly maintenance fee of up to $10.
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Monthly Service Fee | $0 - $10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ATM Fee: In-Network | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ATM Fee: Out-of-Network (within the U.S.) | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| NSF Fee | $25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Overdraft Item Fee | Starting at $5 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Returned Deposit Fee (Domestic) | Starting at $8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Online Bill Pay Fee | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Stop Payment Fee | Starting at $25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wire Transfer Fee - US Domestic (Outgoing) | Starting at $18 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wire Transfer Fee - International (Outgoing) | Starting at $40 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wire Transfer Fee - International (Incoming) | Starting at $10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Returned Deposit Fee (International) | Starting at $8 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Wire Transfer Fee - US Domestic (Incoming) | Starting at $10 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What features and perks does LendingClub Tailored Business Checking Account offer?
This account includes the following features:
- ATM reimbursement - This account will reimburse you for the ATM fees charged by other networks.
- Fraud monitoring - LendingClub Tailored Business Checking Account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
- Free Bill Pay - Bill Pay allows you to pay bills easily from your account.
- Mobile Banking Services - LendingClub Tailored Business Checking Account allows you to manage your money online. This includes depositing checks in your account with your smartphone.
- Nationwide ATM network - Conveniently transact at a nearby ATM.
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