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  LendingClub Tailored Business Checking Account
LendingClub Tailored Business Checking Account
in Business Checking Accounts from LendingClub Inc
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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.

Rating not yet determined  

1 user recommends
0 users are unsure
0 users don't recommend
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Highlights
Community Rating

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Monthly Fee $0 - $10
ATM Fee: Out-of-Network Starting at $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 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 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.
  • Higher than average wire transfer fees.
  • Monthly service charge.

LendingClub Tailored Business Checking Account FAQ

Are business checking accounts from LendingClub Inc federally insured?

Yes, this account is insured up to $250,000 per person 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.

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 Starting at $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 Inc

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

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $5,000
Minimum Balance to Earn APY $5,000
Minimum Opening Deposit Starting at $100
ATM Fee: In-Network $0
ATM Fee: Out-of-Network Starting at $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
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Proof of Identity
  • Business Formation Documents
  • Social Security Number
  • Business Tax Return
  • Employer Identification Number
Account Features
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • Interest Bearing Account
  • ATM Reimbursement
  • Nationwide ATM Network
  • Mobile Banking
  • Fraud Monitoring
  • Debit Card Lock/Unlock
  • Fraud Protection
  • Debit Card
  • Branch Access
  • Member FDIC
  • Check Writing
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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