[FunYouMan]

Which bank is happy to service funders? I know banks like BOA, Chase TD, ETC... don't really like to service our business type and can shut the account down whenever they want.

So I'm looking for a bank that knows what we're about and doesn't have a problem serving my payments from merchants.

Thank in advance

[zalman]

Surprisingly Bill.com allowed me to set up an account and put me through serious underwriting. They did tell me that they don't want me using their service for ACH Credit and that I was only approved for ACH Debit.

[mca2150]

Which bank is happy to service funders? I know banks like BOA, Chase TD, ETC... don't really like to service our business type and can shut the account down whenever they want.

So I'm looking for a bank that knows what we're about and doesn't have a problem serving my payments from merchants.

Thank in advance

There are banks out there, but you need to have a long track record for them to even consider you. Also need a lot of volume and be prepared to manage your daily return % by moving advances to and from different ACH processors. If it gets too high, you'll get cut off. You can find many banks in wires from legit funders.

[Michael I]

seems like most use axos formally known as bank of internet

[kevin85k]

seems like most use axos formally known as bank of internet

I use axos Bank. No issues

[abfunders]

I just opened up a new business account there with a new website and LLC. It was fast and efficient. 3 years ago when I opened my first account it took weeks, and the portal they had was obnoxious. I just wish their backend was more eye candy. For brokers out there, they have the free ACH outbound service, up to $5000/day, to help you pay employees or other ISOs, and/or move money to your own personal account.

[kevin85k]

they kicked back an ACH from a Canadian Lender on me though. Just an FYI

[abfunders]

I hope everything is enjoying a nice weekend off. I wanted to update on this thread.

So I opened up a Brex account.* They're not a typical bank account, but they certainly act like one (with the same $250,000 insurance). They used to be a "startup only" system, for tech companies with $100,000+ in revenue. They're now working with Lending Club and offering a banking solution. They also inherited all of the Azlo accounts, now that Azlo shut down.

I'm becoming quickly addicted to this account. Everything I found that Axos was good for?* Brex is doing better. Automatic generation of bank account verification form. Virtual and physical debit cards on the fly for free.* Debit card and charge cards that offer points (cash back).* Double points on things like Slack and Zoom and other SAAS.* Extra points on advertising. $150 Google adwords credit.* Axos can't touch their UI or UX.* I sent an international wire for free... Axos not only charges $50, they also require a PDF uploaded and to be sent through a live person to verify the information, rather than a simple 2FA email. Integrations to Quickbooks/Xero, etc.

And..... a $250 Amazon card to anyone once they spent $1000 on their debit card, both to the referrer and the referred if you use the referral link at https://www.brex.com/signup?rc=CtC3m0L

[abfunders]

More info: If you're a "points" person, spend $3000 on the cards (that have no PG) within the first 90 days, get 10,000 points.

[Americanbizfunding]

I hope everything is enjoying a nice weekend off. I wanted to update on this thread.

So I opened up a Brex account.* They're not a typical bank account, but they certainly act like one (with the same $250,000 insurance). They used to be a "startup only" system, for tech companies with $100,000+ in revenue. They're now working with Lending Club and offering a banking solution. They also inherited all of the Azlo accounts, now that Azlo shut down.

I'm becoming quickly addicted to this account. Everything I found that Axos was good for?* Brex is doing better. Automatic generation of bank account verification form. Virtual and physical debit cards on the fly for free.* Debit card and charge cards that offer points (cash back).* Double points on things like Slack and Zoom and other SAAS.* Extra points on advertising. $150 Google adwords credit.* Axos can't touch their UI or UX.* I sent an international wire for free... Axos not only charges $50, they also require a PDF uploaded and to be sent through a live person to verify the information, rather than a simple 2FA email. Integrations to Quickbooks/Xero, etc.

And..... a $250 Amazon card to anyone once they spent $1000 on their debit card, both to the referrer and the referred if you use the referral link at https://www.brex.com/signup?rc=CtC3m0L

Hi. Are you still using Brex? if so, can you please tell me your experience with Brex? Like, are you getting paid your commissions from lenders to your Brex account without any hassle?
Thanks.

[abfunders]

Hi. Are you still using Brex? if so, can you please tell me your experience with Brex? Like, are you getting paid your commissions from lenders to your Brex account without any hassle?
Thanks.

I love Brex. Zero problems at all, been using them for close to a year, get free ACH/wire. If this is who I think you are, I specifically asked them and you can sign up as a foreign person as long as your LLC is in the USA.
Just make sure when you apply that you have a website up and running, and I'd recommend telling them "We are purely a business consultant/broker, we do not lend any of our own money"

I sent you the link to your email directly or you can sign up from my Link brex.com/signup?rc=CtC3m0L&src=c so we can both get the $250

Send me an email or Skype me (my email is my username) and I'll give you some more tips.

[Olderguy]

Can you recommend an ACH company other than goach? I have heard of another but don't remember the name.

[ryan $]

I hope everything is enjoying a nice weekend off. I wanted to update on this thread.

So I opened up a Brex account.* They're not a typical bank account, but they certainly act like one (with the same $250,000 insurance). They used to be a "startup only" system, for tech companies with $100,000+ in revenue. They're now working with Lending Club and offering a banking solution. They also inherited all of the Azlo accounts, now that Azlo shut down.

I'm becoming quickly addicted to this account. Everything I found that Axos was good for?* Brex is doing better. Automatic generation of bank account verification form. Virtual and physical debit cards on the fly for free.* Debit card and charge cards that offer points (cash back).* Double points on things like Slack and Zoom and other SAAS.* Extra points on advertising. $150 Google adwords credit.* Axos can't touch their UI or UX.* I sent an international wire for free... Axos not only charges $50, they also require a PDF uploaded and to be sent through a live person to verify the information, rather than a simple 2FA email. Integrations to Quickbooks/Xero, etc.

And..... a $250 Amazon card to anyone once they spent $1000 on their debit card, both to the referrer and the referred if you use the referral link at https://www.brex.com/signup?rc=CtC3m0L

Lendingclub, used to be RADIUS BANK. I did everything in RADIUS with no issues, their online system is dope, and you can pretty much API ANYTHING.... Wires, ACH Credits, ACH Debits, literally anything.... Not sure if it is still the same now that it is Lendingclub.

As long as you use an ACH Processor..... most Banks are fine. Lots of funders use OPTIMUM.

[ryan $]

Can you recommend an ACH company other than goach? I have hear of another but don't remember the name.

Go ACH, ACH Works, ACTUM, USIO, Advantage ACH

[Olderguy]

Go ACH, ACH Works, ACTUM, USIO, Advantage ACH

Thanks.

[TheUnderwritingProdigy]

Can you recommend an ACH company other than goach? I have heard of another but don't remember the name.

ACHWorks is the best in the industry and only one we've used for the past 4 years since inception. Ask to speak w/Ryan McCurry -- he's the CEO. Really nice guy.

[Danielnathfunding]

Lendingclub, used to be RADIUS BANK. I did everything in RADIUS with no issues, their online system is dope, and you can pretty much API ANYTHING.... Wires, ACH Credits, ACH Debits, literally anything.... Not sure if it is still the same now that it is Lendingclub.

As long as you use an ACH Processor..... most Banks are fine. Lots of funders use OPTIMUM.

optimum is the best for funders imo

[ryan $]

ACHWorks is the best in the industry and only one we've used for the past 4 years since inception. Ask to speak w/Ryan McCurry -- he's the CEO. Really nice guy.

ACH Works needs your whole life to sign up, their stip list is excessive IMO

[KingVance1]

ACH Works needs your whole life to sign up, their stip list is excessive IMO

are you still on here scamming lol? more scandals here we come.

[Americanbizfunding]

I love Brex. Zero problems at all, been using them for close to a year, get free ACH/wire. If this is who I think you are, I specifically asked them and you can sign up as a foreign person as long as your LLC is in the USA.
Just make sure when you apply that you have a website up and running, and I'd recommend telling them "We are purely a business consultant/broker, we do not lend any of our own money"

I sent you the link to your email directly or you can sign up from my Link brex.com/signup?rc=CtC3m0L&src=c so we can both get the $250

Send me an email or Skype me (my email is my username) and I'll give you some more tips.

Thanks for the info. Sent you an email.

[abfunders]

Party's over for Brex They decided to drop all SMBs effective August 31 and focus on fintech enterprise solutions with a banking component for massive companies (like DoorDash).