Hi Everyone. Well, after 15 years the RV-Dreams Community Forum is coming to an end. Since it began in August 2005, we've had 58 Million page views, 124,000 posts, and we've spent about $15,000 to keep this valuable resource for RVers free and open. But since we are now off the road and have settled down for the next chapter of our lives, we are taking the Forum down effective June 30, 2021. It has been a tough decision, but it is now time.


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Post Info TOPIC: F/T'ers with a on road business, What bank do you use?


RV-Dreams Family Member

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F/T'ers with a on road business, What bank do you use?


Went an opened a business account with Wells Fargo, everything went ok an was approved for a credit card. Get a call from Ana (banker who opened our account) saying that "Operations" has flagged our account. They must have done a overview of our address and saw that it is Americas Mailbox, they are saying it is a PO box. They won't accept the address because it is not a personally owner stick an brick. So to those of you with an established Buss. who do you use?   Thank you. 



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06 GMC 3500 SLT  Duramax, Allison.

09 Montana 3665re

Safe travels to all, Take each day as a gift for that is truly what it is.

Cert. RVIA Tech 11/24/16 



RV-Dreams Family Member

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I'm not yet FT'g, but I've wondered about banking, too, even for personal banking. So, I'll be interested to see the replies to your issue.

One idea would be Discover Bank, where I used to have a checking account. It's not a S&B bank.

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RV-Dreams Family Member

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We don't work…but kept our Navy Federal Credit Union accounts that we used before we hit the road. Also have USAA checking account and debit and credit cards from both. USAA has a wide enough ATM network that we could get cash without paying any fees in most places…but what we actually do is just make sure our safe has about 2,000 cash in it whenever we pass through a Navy town where there's an NFCU branch. The vast majority of our spending is on our Visa from NFCU…and we pay off the bill in full every month so don't pay any interest.

In this time…you really don't need branches much…

 



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RV-Dreams Family Member

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We use Chase Bank for both biz and personal banking, no issues when we changed our address to America's Mailbox, but we were already established customers with a long history of frequent and sometimes prolomged travel.

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FT - July 2013

 

2010 38TKSB3 DRV Mobile Suites

2012 Ford F450

 

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We have our bank accounts through our investment advisers and the bank accounts themselves are through UMB Bank.  However, all of our accounts are in our individual names.  We use the accounts for both personal and business transactions but keep detailed records to separate each.  Our business entity is a sole proprietorship.

Also, we don't use a mail forwarding service, but rather use the address of a friend - therefore it is an acceptable physical address.

Your situation prompted me to delve into this a bit deeper, and I just completed a Journal entry on Mailing Addresses for Full-timers which likely explains why your mail-forwarding service address was likely flagged on the business account.  I don't know if it will help you, but it at least it might provide an explanation and help others that may run into similar issues down the road.



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RV-Dreams Family Member

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Howard, thank you for the post. Great info there, I haven't given up hope in having the bank reverse it's decision on the address issue. I have set a letter to the Board of Directors explaining everything, and now awaiting to hear back from them. Will update this post as well once I hear from them. I have an EIN number and a registered agent as well at that location, truck and 5th wheel are both registered there as well. Thank you again. Chris

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06 GMC 3500 SLT  Duramax, Allison.

09 Montana 3665re

Safe travels to all, Take each day as a gift for that is truly what it is.

Cert. RVIA Tech 11/24/16 



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We kept our accounts with the credit union we had before we went fulltime. We also opened accounts with Alliant Credit Union, which has Escapees as a member group.

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Jessica and Harry

2011 Heartland Landmark

2011 Chevy 3500 HD Dually


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We have a sole proprietorship as well and use Bank of America, with the accounts being in our personal names.

Trace

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 Trace 

Ford F350 Super Duty 4x2.  Open Range 386FLR

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RV-Dreams Community Member

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We bank with Citi and Discover.. all virtual so you can deposit via phone and you have the use of ATM's all over every city. Plus the bill pay via either one is a great way to not need checks.

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RV-Dreams Family Member

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I sent a letter to the Board Of Directors of Wells Fargo and explained everything on how we are full timers and use a mail forwarding services with a Registered Agent. I got a phone call from Ana who we opened the account with in Orlando about a week after sending the letter. She said the account will stay open.

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06 GMC 3500 SLT  Duramax, Allison.

09 Montana 3665re

Safe travels to all, Take each day as a gift for that is truly what it is.

Cert. RVIA Tech 11/24/16 



RV-Dreams Community Member

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I'm not on the road...yet. We use Schwab, which isn't brick and mortar so maybe they would understand the situation better than others? We can use any ATM and are reimbursed for all fees, which is excellent. Can deposit checks via phone. Only drawback is actually having cash. Can't easily deposit that, but in many years with this account haven't actually had the need, so may not be an issue.


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RV-Dreams Family Member

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Note to all.  This is a two year old thread, so before going with any bank, be sure and verify if the information given in the posts above are still relevant.  Banks can change policies as we all know.

Also, remember that Howard prefers that we NOT revive old threads, but rather, start a new one instead.

Terry



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Terry and Jo

2010 Mobile Suites 38TKSB3
2008 Ford F450
2019 Ford Expedition Max as Tag-along or Scout

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RV-Dreams Family Member

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USAA has been great for us.

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Allen & Donna Ferguson

Fulltime July 2013 to Dec 2017, now part-time

 2022 Crossroads Sunset Trail SS285CK, 2015 Silverado 3500 HD DRW

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Just beginning!



RV-Dreams Family Member

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Why not close the old threads but leave them out there to be read. If someone has a question, they can start a new thread.

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2018 Heartland Landmark

2010 Dodge 3500 DRW 

Jay-Driver Stella-Director of Operations

My favorite website: the Heartland Owners Forum

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