Best Bank Account for Airbnb in 2024

Choose the best bank account for vacation rentals and maximize your Airbnb earnings.

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By keeping your personal and business finances separate, financial recording and tax reporting can be much simpler for you in the long run. So, getting the right business bank account is an important step. Your choice of bank affects how smoothly you manage expenses, handle transactions, and track revenue. 

With countless banks and accounts available, we’re here to make things easier by narrowing down your options. Let’s dive into the best bank account options for Airbnb hosts. 

Things to Consider When Choosing a Bank Account for Airbnb

Here are some factors to think about when picking a bank account for your Airbnb business.

Transaction Fees

To keep your costs down, look for accounts with low or no transaction fees. Some banks might waive fees if you meet certain requirements like keeping a minimum balance or making a set number of transactions each month. This can save you a lot of money in the long run, especially if you’re processing numerous transactions.

Interest Rates

Aim for accounts with competitive interest rates to make the most of your deposits. Online banks usually offer higher rates compared to traditional banks you might find on the corner. Remember to check whether the interest rate is fixed or variable, as it could affect your earnings.

Mobile Banking

If you want the flexibility to manage your money from anywhere at any time, you’ll want a bank that has an easy-to-use mobile app. With the app, you can check balances, move money around, and even deposit checks right from your phone. 

An additional perk is if the app comes with features like budget tracking and spending categorization to help you stay on top of your finances.

Customer Support

Customer service is super important. The bank you choose should be known for being helpful when you need them. Look for ones with customer service available 24/7, so you can get assistance whenever you need it, whether by phone, email, or chat. Customer reviews can give you an idea of the level of service you can expect.


Prioritize banks with security measures that protect your money and personal information. It’s a plus if the account has features such as additional login steps, encryption, and fraud monitoring. Also, consider signing up for account alerts to receive notifications of any suspicious activity.

Account Integration

If you use accounting software or other tools, make sure your bank account can work smoothly with them. It’ll make your bookkeeping and reporting a whole lot simpler. 

Be sure to check if banks offer integrations with popular accounting software like Freshbooks, Quickbooks, or Xero, as well as compatibility with other financial management tools you use.

Minimum Balance Requirements

You should check if the account needs you to keep a minimum balance and if you’re okay with it. Some accounts won’t charge you fees as long as you keep a certain amount in there. 

Keep in mind that maintaining a minimum balance might tie up funds that you could otherwise use for business expenses or investments.

Account Flexibility

Think ahead and look for accounts that can adapt to your needs as your business grows or changes. You can check if the bank offers business credit cards, lines of credit, or other financial options you might need down the road. 

Another helpful feature for growing your business is if the bank allows you to add additional users or sub-accounts, which can be helpful for managing finances with partners or employees.

Best Bank Accounts for Your Airbnb

Chase Business Complete Banking

Chase Business Complete Banking offers competitive interest rates, minimal fees, and a full suite of services to simplify managing your property finances. They are affordable, accessible, and digital-friendly.

Their monthly fees are only $15, which can be waived in several ways, including by maintaining a balance of at least $2,000. They also allow up to $5,000 in no-fee cash deposits per statement cycle. 

Chase Business Complete Banking has advanced payment processing which can ensure quick rental payments. If you’re co-hosting, you can each get access to the account and separate debit cards and PINs. You can also issue employee debit cards with customizable daily limits.

With thousands of ATMs, you can always access your funds. Plus, you can use Chase QuickAccept for same-day deposits with no hidden fees.

On top of all that, they have exceptional customer service, 24/7 fraud monitoring, and an intuitive mobile app.

American Express Business Checking

Suppose you want transparency, generous interest rates, and zero fees, well then, the American Express Business Checking Account fits the bill perfectly.

One of the biggest benefits is no monthly maintenance fees. If you’ve just started out or want to keep costs down, this is a major advantage. They are very transparent with their pricing, and you can check all their fees on this page

In addition to being transparent, they are also very generous with their interest rates, offering 1.30% APY on balances up to $500,000.

While it’s an online-only account, American Express provides top-notch 24/7 support. 

You’ll be able to manage your banking on the go with their handy features like a mobile app, online bill payment, and mobile deposits. Plus, you can integrate it with QuickBooks.

Bank of America

If you’re looking for low monthly fees and added security features, the Bank of America Advantage Banking Account is a great choice.

They take security very seriously with features like secure card activation and transaction monitoring, so you can rest assured that all your transactions are closely monitored and protected. 

The Bank of America Advantage Banking Account has monthly ATM fee rebates, so you’ll have free access to your cash whenever you need it, and you won’t have to worry about overdraft fees on cash deposits. You’ll also be able to make the most out of your savings since they offer tiered interest rates that beat the national average.

They are also a great choice if you seek flexibility and convenience. You can manage your finances from anywhere with online and mobile banking, customizable account alerts, and access to Bank of America’s extensive ATM network. And if you need any help, your virtual banking assistant will always be at your disposal.


Novo is ideal for hosts who want a hassle-free solution. While technically classified under fintech and powered by Middlesex Federal Savings, Novo is so convenient that we just had to include it.

Applying for a checking account is super easy since a fully digital process that takes just around 10 minutes. Even though it only operates online, each account comes with both physical and digital debit cards.

Novo stands out for its budget-friendly features, offering no minimum balances, zero monthly fees, and reimbursement for all ATM fees. You can also automatically allocate funds to a reserve each time you deposit, which can be of huge help for budgeting.

Speaking of its perks, Novo integrates with loads of payroll and accounting applications, such as PayPal, QuickBooks, and Stripe, and you can even create invoices from the same dashboard.

Let’s not forget to mention that your deposits are FDIC-insured for up to $250,000 per depositor.

However, since Novo is solely a digital solution, it may not be the best fit for non-techy hosts or those who prefer in-person banking. 

Citibank Access Account

Another great account that comes with low fees and competitive interest rates is ‍Citibank’s Access Account. It is a bank that offers you convenience and cost savings with a low monthly service fee. You can also withdraw your money fee-free from over 65,000 Citibank ATMs and optional overdraft protection.

What’s more, this account provides two ways to earn interest. With Interest Checking, you can earn tiered interest rates on balances of $15,000 or more. The other option is the Savings Builder. It allows you to earn up to 1% interest when you maintain a balance of $15,000 or more and make monthly deposits of $100 or more for ten consecutive months.

Citibank’s Access Account doesn’t just stop there. It has robust digital banking tools to simplify your rental property finances. Its mobile banking app allows you to handle bill payments, receive on-time alerts via text or email, access real estate investment loans, and even apply for business loans directly from the app. 


Whether you’re managing just one property or a whole portfolio, these accounts come with many perks, designed to help you maximize profits and simplify financial management. Features like low fees, competitive interest rates, and easy-to-use mobile apps make them perfect for hosts like you who want an easy and flexible solution for managing their finances.

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