BUSINESS BANKING

Tailored Checking

The business checking account is tailored for you where you can earn 1% cash back1, enjoy unlimited transactions, and earn a competitive rate of 1.50% APY on the portion of your balance below $100,000.00.2 Bank smarter by opening an account within minutes.

Tailored Checking Mobile View

The LendingClub Advantage

  • Earn 1.50% APY on the portion of your balance below $100,000.00 and 0.10% APY on the portion of your balance that is $100,000.00 and greater.2

  • Earn unlimited 1% cash back on Qualified Purchases made with your Tailored Checking debit card after meeting eligibility requirements.1

  • No monthly maintenance fee for account balances over $500.3

  • Unlimited automatic ATM fee rebates.4

  • Sync your LendingClub deposit accounts to Mint®, QuickBooks®, or Quicken®.

  • Create and send digital invoices and get paid online with Autobooks.

The LendingClub Advantage
tailored-checking-lc-layer-mobile-mockup-half-phone-second

Bank from Anywhere with LendingClub Mobile

A full-service bank at your fingertips

Available for iOS and AndroidTM

  • Real-time transaction history.

  • Pay bills, transfer funds, and send wires.

  • Mobile check deposits.

  • Create and send professional digital invoices.

  • Accept card payments, ACH payments, and wire transfers.

  • Generate reports and reconcile transactions for accounting.

Let’s Get Started!

Open an account online in minutes

Mobile Money Management

Tech for businesses on the go.
bank-tailored-check-mobile-deposit
Mobile Check Deposit
Snap a photo of your check and deposit funds from anywhere in the world.
Learn More
Electronic Statements
Electronic Statements
Go paperless—view your business statements easier and faster, anytime and anywhere.
Learn More
Autobooks
Autobooks
We provide an integrated suite of services, tailored to the unique needs of small businesses, including receivables, payables, payments and accounting.
Learn More

Additional Services Available

Business Bill Pay
Business Bill Pay
Send one-time and recurring electronic payments and checks to companies and individuals.
Remote Deposit Capture
Remote Deposit Capture
Spend less time making deposits and more time earning them.
ACH Origination
ACH Origination
Manage your electronic payments online to quickly and efficiently disburse funds to employees or vendors.
Business Checks
Business Checks
Standard business checks available to order.
lc-icon
Digital Banking, Made Human

At LendingClub, we put our customers at the center of everything we do. That’s why we focus on providing products and services that are not only convenient but help to make life easier.

Safe & Secure
Security Icon White
Security
We use 256-bit encryption to ensure that data is protected with the highest level of security.
Bank Icon White
FDIC Insurance
Your deposits are FDIC-insured up to the maximum amount allowed – $250,000.
Chat Icon White
Customer Support
Have a question? We’re here to help. Chat with us online, or reach us by phone or email.
Applying for a New Account

You can apply online for a business account. Simply select the “Apply Now” button located above. Then enter your personal details and information about your business, verify your information and fund your account. You will receive confirmation at the end of the application if your account has been approved. If not, you will receive an email notification.

You can open multiple accounts with us. Once you have your first account opened and have enrolled in online banking, you’ll see an option to open another account.

To open an account you need to be a citizen or resident of the United States.

Please have the following information available about your business:

  • Company’s legal name or DBA

  • EIN or tax ID

  • Address of your company’s headquarters

  • Mailing address

You’ll also need the following information about each person who owns 25% or more of your company:

  • Percentage of ownership

  • Personal email address

  • Mobile phone number

  • Address

  • Date of birth

  • Social Security Number

Additionally, you’ll need the name and information of one ‘control person’ for the UBO form.

You will need to fund the account with a minimum of $100.

You can apply for and open a Tailored Checking account entirely online in about 7 minutes, start to finish.

LendingClub does not pull credit as part of our account opening process. However, we do obtain information from a credit bureau used to validate your personal information. The request for information does not affect your credit score.

Yes, a web presence must be entered when applying for a Business Tailored Checking Account. A social media presence for your business or an online website would suffice.

If you are a sole prop and don’t have an EIN, you should enter in your SSN in the EIN section.

Yes, you can apply! Select “non-profit” as the type of business in the online application process to enter in the information required to apply.

Business High-Yield Savings is available to small business customers who have a Tailored Checking account. To open an account, just send us a secure message within online banking or the mobile app from your online Tailored Checking account and we will be happy to open up a savings account for your business.  

My Tailored Checking Account

If you keep a balance of $500 or more there is no monthly maintenance fee for this account. If your account has less than $500 you will be charged a $10 monthly maintenance fee. Wire and ACH fees and limits may apply, depending on the type of transaction. Click here to see the fees.

There is no monthly minimum balance you must keep in the account. To not be charged a monthly maintenance fee of $10, your account must have a balance of $500 or more.

You can add additional signers via online and mobile banking. Just click on the gear bar to open up Access Manager. Here is where you can add users and define their different levels of access:

  • Account Holder – This user is the business owner/signer, the first signer (if
    multiple) to enroll in online banking. This user can add/edit other online banking users.

  • Admin – A user that has all the same permissions as the Account Holder in online banking. They do not need to be a signer. This access can be edited by Account Holder and other Admins.

  • Collaborator – A user that cannot manage other business banking users. They have all other permissions that involve depositing/withdrawing i.e. wires, ACH transfers, paying a bill/person, mobile deposit, etc.

  • Viewer – A user that can access the financial information in a read-only fashion. This user can still make some changes like editing their two-factor authentication devices. This is a great option for a bookkeeper that needs to see the transactions but does not need to participate in them.

Yes, business accounts can process wires via online and mobile banking.
Click on Transfer & Pay and you’ll see an option for Wire. For more information on wire transfers go here.

Yes! Etsy and Square are processed as external transfers and can take a few days to process. Click here for more information on transaction holds and timing.

Wire and ACH fees and limits may apply, depending on the type of transaction. Click here to see the fees.

The initial deposit will typically be processed within 2-3 business days. For your security, once the funds are deposited, for the first 30 days of an account opening, any deposits (including the opening deposit funds) and transfers will be held for 5 business days (not including weekends).

Yes, you can connect your account to QuickBooks, Quicken, and Mint. For more information visit our Connect to Intuit.

Yes, we integrate with Autobooks. Learn more about accepting payments.

Click here for more information on transaction limits for businesses. 

Debit/Credit Cards

If you ordered a debit card during account opening, it will be shipped to your mailing address and should arrive within 7-10 business days once your application has been approved.

If requested during account opening, your debit card should arrive within 7-10 business days once your application has been approved. If you did not request a debit card upon account opening and would like to order one, please call Customer Service at 800-242-0272 or use Secure Message within online banking.

We do not offer business credit cards.

How Do I…?

You can withdraw funds from the account in two ways. 

1. Use your LendingClub debit card to withdraw funds free of fees at a MoneyPass or SUM ATM location. Locate an ATM.  

2. Make an external transfer (ACH) to another financial institution for no fee. You can add an external account by selecting “Manage External Accounts” from the Transfer page within Online Banking or the LendingClub Mobile app.

Interest on your balance is earned on your Tailored Checking account from day one beginning on the day your account is opened. The rate you earn will depend on your account balance. At the end of each month, the interest payment will be deposited into your account.

It’s easy to get funds into your Tailored Checking account to manage and grow your business. You can deposit cash, accept payments and send invoices, use mobile check deposit, or make wire and ACH transfers from another banking institution. We do not charge for ACH transfers.

  • Cash – You can deposit cash in a deposit-taking ATM in either the MoneyPass or SUM Network. Click here to see locations.

  • Accept payments and send invoices – You can sign up at no charge for our AutoBooks service, allowing you to collect payments from vendors and customers alike and having it flow directly into your Tailored Checking account. Simply go to the More menu selection in your online banking app and select Create an Invoice.

  • Mobile Check Deposit – Use your LendingClub mobile app to snap a picture of your check and deposit into your account.

  • Wire/ACH Transfer – Transfer funds from your account at another financial institution

Cash Back Rewards

You must have a Tailored Checking account open for at least 30 days and keep an average balance of $500 or more in your account. Cash back is only available after making Qualified Purchases with your Tailored Checking debit card.2

Tip: When shopping in store, select “credit” instead of “debit” at the point-of-sale where available to ensure you receive the cash back. The cash back you earn will automatically be credited to your account at the end of the month following the earning period.

There are two ways a debit card can be processed at the time of a purchase.

The first option is called the “debit/online/PIN debit” method, where you enter your PIN at the point of sale and the funds are immediately debited from your account.

The second option is called the “credit/offline/signature debit” method, where you select the “credit” button, sending the transaction through the credit card processing network. A hold is placed on the money for the transaction in your account, which clears or processes in a day or two. You have to use this debit function if you want to receive cash back during your transaction. It is important to note that when you are using your debit card for online purchases, your card will automatically run as a credit transaction.

Yes, when you use your debit card for an online purchase your card will automatically run as a credit transaction, making the purchase eligible for cash back should your account meet the qualifications.

The cash back you earn will automatically be credited to your Tailored Checking account at the end of the month following the earning period, for each month that qualification requirements are met.

Accounts subject to approval which may include credit approval. $100 opening deposit required. Please see Product Terms & Conditions for additional product details. FDIC-insured up to $250,000 per depositor for each ownership category. Visit our Help Center for additional information.

  1. Tailored Checking Cash Back Rewards: The Debit Card Rewards Program (“Cash Back Rewards”) provides 1.00% cash-back on all Qualified Purchases using a debit card tied to an Eligible Account. Eligible Accounts are: Tailored Checking accounts that maintain an average monthly balance of $500.00 for the calendar month in review.

    Qualified Purchases are defined as: Signature-based purchases made using the debit card tied to an Eligible Account. These are “credit” purchases that can be made in stores and online. To make a signature-based purchase, select “credit” rather than debit at point-of-sale kiosks. The “credit” option is most often pre-selected when making purchases online using a debit card. Online subscription payments may not be considered signature-based purchases. The payment transaction type (signature-based or other) is ultimately decided by the merchant and is based on how the transaction is transmitted at the time of processing. Qualified Purchases do not include: (1) any goods or services purchased that are returned or otherwise credited to your Eligible Account; (2) unlawful purchases; or (3) purchases of currency, cash or cash equivalents (including, without limitation, currency from the U.S. Mint, Travelers Checks, gift cards, cryptocurrency, casino chips, peer to peer payments, prepaid debit cards, account openings, loan payments, or other cash equivalents).

    Any earned Cash Back Rewards will be credited to your account on or before the 10th calendar day of the next calendar month. The Eligible Account must be open and active at the time the Cash Back Reward is credited.

  2. Annual Percentage Yield (APY) is accurate as of 02/23/2024. Interest is earned at the rate applicable to the portion of the balance that falls within each rate tier. Rate tiers are as follows: 1.50% APY applies to balances between $0.00–$499.99, 1.50% APY applies to the balances between $500.00-$99,999.99, and 0.10% APY applies to balances of $100,000.00 and greater. For accounts with balances greater than $100,000.00, your blended APY can range from 1.50% to 0.10% depending on your total account balance and the portion that falls within each tier. Rates are variable and subject to change at any time, at the sole discretion of the Bank. Fees may reduce earnings.

  3. Monthly Maintenance Fee waived in months where the average monthly balance is at least $500.00. An account will not be overdrawn by the Monthly Maintenance Fee. An account with a balance of less than $10.00 will be assessed the amount available, reducing the balance to zero.

  4. LendingClub does not charge a fee to use another bank’s ATM. Plus, get unlimited ATM surcharge rebates for ATM fees charged by other banks and ATM owners. ATM rebates apply to cash withdrawals from your Tailored Checking account using your Tailored Checking debit card. International exchange and service fees not included. ATM fees are rebated at the end of each statement cycle. LendingClub makes its best effort to identify ATM fees eligible for rebate. In the event you have not received a rebate for a fee you believe is eligible, please contact Customer Service at 800.242.0272. LendingClub reserves the right to modify or discontinue the rebate program at any time.

  5. Standard data and message rates may apply to Mobile Banking services. This includes the use of LendingClub Mobile, LendingClub Commercial, and other services. Android is a trademark of Google LLC. iPhone and iPad are trademarks of Apple Inc., registered in the U.S. and other countries.

Any reviews presented are individual experiences and results may vary. Reviews collected and authenticated by Bazaarvoice. All reviews can be accessed at https://www.lendingclub.com/company/reviews

Unless otherwise specified, all credit and deposit products are provided by LendingClub Bank, N.A., Member FDIC, Equal Housing Lender (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. Credit products are subject to credit approval and may be subject to sufficient investor commitment. Credit union membership may be required. Deposit accounts are subject to approval. Deposit products are FDIC-insured up to $250,000 per depositor, per ownership category.

"LendingClub" and the "LC" symbol are trademarks of LendingClub Bank.

© 2024 LendingClub Bank. All rights reserved.