Does Baselane Support Trust Accounts?

Baselane does not currently support trust accounts. While Baselane provides banking services through our platform, our Banking partner, Thread Bank (Member FDIC), which is located in Tennessee, does not currently support trust account banking. 

As a result, trust accounts, escrow accounts, and other state-specific account types that require funds to be held in a state-specific branch cannot be opened through Baselane at this time. 

Certain states may allow security deposits to be held in a standard bank account, in which case Baselane can support.

However, if your state requires security deposits to be held in a trust account, an escrow account, or a state-specific branch outside Tennessee where our banking partner is located, Baselane does not currently support those requirements. 

Baselane currently supports the following account types:

• Individual (sole proprietor) accounts
• Single-member LLC accounts
• Multi-member LLC accounts
• Corporation accounts

To learn more about eligibility requirements and how to open a Baselane Banking account, please see: How do I open a Baselane Banking account?