Why do I need to choose from the Formations’ list of preferred banking?

We ask that you choose one of our preferred banks for your business bank account, but can go with any bank you pick, we will just need to adjust some of our monthly processes to support it.

We highly recommend you open your bank account with Bank of America, Chase, Wells Fargo or RelayFi. 

  • With any of those partners, we can do most of the work for you and you don't need to show up in person at the bank, or we can make sure your stay at the bank is as short as possible (you might need to do a short identity verification in person).
  • Our partners permit better connections with our product, which means we have constant view access to your account. This way, your books are up to date all the time, and you don’t need to struggle with reestablishing the connections. 
  • We have secured more reliable connections and relationships in case something goes wrong.
  • With other banks, we might need you to send us documents every month; not with our partners.