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  LendingClub Tailored Business Checking Account

LendingClub Tailored Business Checking Account

in Business Checking Accounts from LendingClub Inc

Claimed

LendingClub Tailored Business Checking Account

Claimed

in Business Checking Accounts from LendingClub Inc

Net Recommendation Score +100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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Highlights
Community Rating

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Monthly Fee $0 - $10
ATM Fee: Out-of-Network $0
Minimum Balance to Avoid Monthly Fee Starting at $5,000
APY (Annual Percentage Yield) 0% - 0.1%

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 Account is available in 50 states (and Washington, DC).

Key Takeaways
  • Higher than average APY. LendingClub Tailored Business Checking Account has an annual percentage yield of up to 0.1%, which is higher than the national average interest rate on savings accounts. Note that you must keep a minimum balance of $5000.
  • Charges a monthly fee. This account charges a monthly service fee of up to $10, but the fee is waived if you keep a minimum balance of $5,000.
  • $100 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.
  • No ATM fees. LendingClub Tailored Business Checking Account does not charge fees on ATM transactions.
  • ATM fee reimbursements. 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 through LendingClub Inc.
LendingClub Tailored Business Checking Account Pros & Cons
Pros Cons
  • Available in all 50 states.
  • Interest-yielding account.
  • Access to physical branches.
  • Free debit card and the option to lock/unlock the card if lost or stolen
  • No signup bonus.
  • Not FDIC-insured.
  • Higher than average wire transfer fees.
  • Monthly service charge.
LendingClub Tailored Business Checking Account FAQ

Are business checking accounts from LendingClub Inc federally insured?

No, your LendingClub Inc business checking accounts are not insured by a federal insurance agency. This means that if LendingClub Inc were to fall into financial difficulties, your deposits are not covered by a government backed insurance fund like the FDIC or NCUSIF.

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.

LendingClub Tailored Business Checking Account Rates and Terms
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.

LendingClub Tailored Business Checking Account Account Minimums
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.

LendingClub Tailored Business Checking Account Fees
Description
ATM Fee: In-Network $0
ATM Fee: Out-of-Network $0
Monthly Fee $0 - $10
NSF Fee $25
Online Bill Pay Fee $0
Overdraft Item Fee $5
Returned Deposit Fee (Domestic) $8
Returned Deposit Fee (International) $8
Stop Payment Fee $25
Wire Transfer Fee - Domestic (Incoming) $10
Wire Transfer Fee - Domestic (Outgoing) $18
Wire Transfer Fee - International (Incoming) $10
Wire Transfer Fee - International (Outgoing) $40

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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Message From LendingClub Tailored Business Checking Account

Open online in minutes, and while you’re out hustling, we’ll put your money to work with an industry-leading interest rate and 1.00% cash back.

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

APY Minimum Balance $5,000
Minimum Balance to Avoid Monthly Fee Starting at $5,000
Minimum Opening Deposit Starting at $100
ATM Fee: In-Network $0
ATM Fee: Out-of-Network $0
Online Bill Pay Fee $0
Monthly Fee $0 - $10
NSF Fee $25
Overdraft Item Fee $5
Returned Deposit Fee (Domestic) $8
Returned Deposit Fee (International) $8
Stop Payment Fee $25
Wire Transfer Fee - Domestic (Incoming) $10
Wire Transfer Fee - Domestic (Outgoing) $18
Wire Transfer Fee - International (Incoming) $10
Wire Transfer Fee - International (Outgoing) $40
Account Features
  • No ATM Fees
  • Member FDIC
  • Check Writing
  • Branch Access
  • Debit Card
  • Free Bill Pay
  • Fraud Protection
  • Debit Card Lock/Unlock
  • Fraud Monitoring
  • Mobile Banking
  • Nationwide ATM Network
  • ATM Reimbursement
  • Interest Bearing Account
  • Mobile Check Deposit
APY (Annual Percentage Yield) 0% - 0.1%

LendingClub Tailored Business Checking Account Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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