Banking Built for Real Estate Fund Managers
Open FDIC-insured bank accounts for each legal entity in your portfolio. Process ACH and Wire payments with competitive yields on idle cash.
Complete Banking Infrastructure
Everything you need to manage banking operations across your real estate portfolio
Account Per Legal Entity
Open a dedicated bank account for each asset or fund under your GP platform. Keep finances cleanly separated by holding structure.
Instant Digital Account Opening
Digital onboarding with instant approval for most accounts. Start accepting and sending payments within hours, not weeks.
ACH Credit Payments
Send money to investors, vendors, and partners via ACH Credit. Automated distribution workflows with audit trails.
ACH Debit Payments
Collect capital call contributions and subscription payments via ACH Debit. Streamlined investor funding with automated retry logic.
Wire Payments
Send and receive domestic and international wire transfers. Same-day settlement for time-sensitive transactions.
Interest-Bearing Accounts
Earn competitive APY on idle cash balances across all your accounts. Monthly interest payments help maximize returns.
Why Choose Covercy Banking
Built specifically for real estate investment managers
FDIC Insurance Up to $3M
Your deposits are FDIC-insured up to $3,000,000 through Thread Bank's deposit sweep program across multiple banks.
Multi-Entity Management
Manage multiple bank accounts from one dashboard. Perfect for sponsors managing funds, SPVs, and individual properties.
Automated Reconciliation
Bank transactions automatically sync with your books. Real-time visibility into cash positions across all entities.
Compliance-Ready
Built-in audit trails, reporting, and documentation to meet fund compliance and investor reporting requirements.
How It Works
Get started with US Banking in three simple steps
Connect Your Entities
Link your fund, SPVs, and property LLCs to the Covercy platform. Our team helps with entity verification and KYC.
Open Bank Accounts
Digital account opening for each entity. Most accounts are approved instantly or within a few hours.
Start Transacting
Send ACH and Wire payments, collect capital calls, distribute profits, and earn interest on idle cash—all from one platform.
Flexible Payment Options
Support for all major payment types
ACH Credit
Push payments to investors and vendors
- Distribution payments
- Vendor payments
- Tax distributions
- Profit distributions
- Management fee payments
- Operating expense payments
ACH Debit
Pull payments from investors
- Capital call collections
- Subscription payments
- Follow-on contributions
- Automated retry on failure
- Recurring payment support
- Instant payment confirmation
Wire Transfers
Domestic and international wires
- Same-day domestic wires
- International wire transfers
- Large transaction support
- Priority payment processing
- Real-time status tracking
- Secure wire confirmation
Earn Competitive Returns
Maximize idle cash with interest-bearing accounts
All Covercy bank accounts are interest-bearing. Earn competitive annual percentage yields on your cash balances, paid monthly.
- No minimum balance requirements
- Monthly interest payments
- Tiered rates for higher balances
- Variable rates based on Federal Funds Rate
FDIC Insurance Protection
Up to $3,000,000 in FDIC insurance coverage
Your deposits qualify for up to $3,000,000 in FDIC insurance coverage through Thread Bank's deposit sweep program. Each program bank provides up to $250,000 in coverage.
- Up to $3M FDIC coverage per account
- Automatic sweep across multiple banks
- No action required from you
- Full transparency on program banks
Covercy is a financial technology company, and is not an FDIC-insured bank. Banking services provided by Thread Bank, Member FDIC. Your deposits qualify for up to $3,000,000 in FDIC insurance coverage when Thread Bank places them at program banks in its deposit sweep program. Your deposits at each program bank become eligible for FDIC insurance up to $250,000, inclusive of any other deposits you may already hold at the bank in the same ownership capacity. You can access the terms and conditions of the sweep program at https://thread.bank/sweep-disclosure and a list of program banks at https://thread.bank/program-banks. Please contact customerservice@thread.bank with questions on the sweep program. Pass-through insurance coverage is subject to conditions.
APY Disclosure
Covercy is a financial technology company, and is not a bank. Banking services provided by Thread Bank, Member FDIC. The tiered annual percentage yield (APY) is effective as of the last Federal Funds Rate update. This is a variable rate based on the Federal Funds Rate and may change after the account is opened. Fees may reduce earnings on the account.
Built for Real Estate Operators
Common use cases for US Banking
Fund Managers
Separate accounts for each fund vehicle. Collect capital calls, distribute profits, and manage operating expenses.
Syndication Sponsors
Individual accounts for each SPV. Streamline investor contributions and profit distributions.
Property Operators
Dedicated accounts per property LLC. Manage rent collections, operating expenses, and owner distributions.
Family Offices
Consolidated banking across multiple investments. Treasury management with competitive yields.
Transparent Pricing
Choose the right plan for your banking needs
Tailor Covercy's investment management software for your real estate firm
Fundraising Starter
Syndicate faster with auto payment collections
- AI Content Generator
- eSignatures
- Automated Contribution Payments
- Fundraising Pipeline Management
- Interactive Investor Pitch Deck
- Showcase Opportunities on Your Website
- Investor Accreditation (Fees Apply)
Standard
Investor portal and automated payments
- AI Content Generator
- Investor Portal
- eSignatures
- Automated Contribution Payments
- Automated Waterfalls
- Investor Reports
- Investor Email Communications
- Document Sharing
- Automated K1 Matching
Professional
Advanced features for growing teams and funds
- Investor Portal
- Fundraising Pipeline Management
- Interactive Investor Pitch Deck
- Showcase Opportunities on Your Website
- Investor Accreditation (Fees Apply)
- Fully Customizable Permissions
- Rent Manager Integration
- Yardi Exporter
- Raw Data Integration Hub
Fund Administration
Full-service institutional fund operations and administration
- NAV Calculation & Performance
- Fund Accounting Services
- Investor Services & Capital Accounts
- Fee Calculations & Waterfalls
- Tax Support & K-1 Coordination
- Audit Support & Reconciliation
- Compliance & Regulatory Reporting
- View complete feature list
Frequently Asked Questions
- How long does it take to open an account?
- Most accounts are approved instantly or within a few hours. In some cases, additional documentation may be required, which can take 1-2 business days to process.
- Is there a fee to open an account?
- There is no fee to open a bank account. Pricing is based on your overall Covercy subscription tier and transaction volume. See our pricing page for details.
- How many accounts can I open?
- You can open as many accounts as you need for your fund structures, SPVs, and property holdings. Each legal entity can have its own dedicated account.
- Are ACH and Wire payments included?
- ACH Credit and Wire payments are included based on your subscription tier. Higher tiers include unlimited ACH payments. Additional fees may apply for wire transfers.
- How is the FDIC insurance up to $3M possible?
- Thread Bank uses a deposit sweep program that distributes your funds across multiple FDIC-insured program banks. Each bank provides up to $250,000 in FDIC coverage, allowing for aggregate coverage up to $3,000,000.
- What is the current APY on accounts?
- APY rates are tiered based on account balance and are variable based on the Federal Funds Rate. Contact our sales team for current rates specific to your anticipated balance levels.
- Can I use these accounts for international transactions?
- Yes, you can send and receive international wire transfers. For more comprehensive international payment capabilities, see our International Payments product.
- How do I get started?
- Book a demo with our team. We'll walk you through entity setup, account opening, and integration with your existing Covercy platform.