Banking for Property Management Companies

The world of a property manager moves fast and is complex. You need a bank to help you navigate all that you have to accomplish. You can depend on the local professionals at TowneBank to provide the banking, lending, and treasury services strategy to keep your world turning more efficiently.

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Frequently Asked Questions


  • Yes, we offer specialized banking services for Association Management Companies (AMCs) through a specialized Association Analysis Checking account where AMC members can receive the following benefits for a flat, monthly fee:
    1. Detailed analysis statement accessible through Business Online Banking
    2. Discounted pricing on select treasury services
    3. Card payment processing services
    4. Access to our Towne family of companies that includes insurance, benefits, and more.
    Contact our specialized bankers to get started today.
  • Yes, we offer several services that can help your business process payments faster such as electronic lockbox, retail lockbox, and wholesale lockbox services. If you’re a healthcare business, we also provide a Healthcare Remittance Processing service just for you. Or, if you would like to deposit checks from your office, talk to us about Remote Deposit Capture.

    If you need to process credit card payments, we also offer Merchant Services that will allow you to take credit card payments online, on the go, or on location.
  • We pride ourselves on being a local partner to small businesses. No matter the size and demands of your business - from brand new to well-established - we have the financial services and know-how to help you succeed.
  • Yes! We offer retail, wholesale, and electronic lockbox services.
  • Yes! TowneBank offers SBA 504 loans* that are backed by the Small Business Administration. SBA 504 loans are a long-term, fixed-rate financing solution. TowneBank also offers additional business loans and finance options.

    If you aren't sure where to begin with your SBA 504 application, contact one of our local bankers who can help guide you through the process.

    *Normal Credit approval criteria apply
  • Depending on your business type you may need different types of identifying information. For your convenience, we have provided a list of documents required to open a deposit account. Additional documentation may be requested based on your company's organizational structure.

    Corporation
    • IRS Acknowledgement Letter for TIN
    • Corporate bylaws
    • For non-profits: IRS 501(c)(3) letter for non-profit organizations or tax-exempt documentation
    Limited Liability Company (LLC)
    • IRS Acknowledgement Letter for the TIN
    • Operating Agreement
    Partnership
    • IRS Acknowledgement Letter for the TIN
    • Partnership Agreement
    • Fictitious Name Certificate / Certificate of Trade Name
    • A Certificate of Limited Partnership (if necessary)
    Sole Proprietorship
    • Social Security Card or the IRS Acknowledgement Letter for the TIN
    • Business License (VA Only)
    • Fictitious Name Certificate / Certificate of Assumed Name
    Club / Organization / Association
    • IRS Acknowledgement Letter for the TIN
    • Meeting minutes for the EIN / Statement of Organization form / Association Bylaws / Certification on letterhead signed by Secretary authorizing signatory for the Association
    • For Non-Profits: IRS 501(c)(3) letter for non-profit organizations or tax-exempt documentation
    Ready to open a Business Account?

    We look forward to welcoming you to the Towne Family. To get started, simply find a location near you and stop by at your convenience Monday-Friday. Be sure to check the hours of operation for your location, as hours may vary. Click here for more information on opening a Business Savings/Checking account.
  • IF you have customers who pay your business through their bank’s online bill pay service, electronic lockbox can convert those payments that would have otherwise been delivered through the mail into an electronic credit to your TowneBank account. Electronic payments take 1-2 days to process depending on the payment processor. Compare to one week when payments are sent through standard mail delivery.
  • Yes, TowneBank offers a web-based, integrated payments platform that can take a payment file from your accounting software and execute AP payments as ACH, Check, Virtual Card or Wire through a single online portal.
  • All deposits owned by a corporation, partnership, or unincorporated association at TowneBank are added together and insured up to $250,000, separately from the personal accounts of the owners or members.


Contact a Business Banker


Additional Resources


Normal credit criteria apply

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