Your HOA Wants to Keep Its Own Bank. Here Is What That Actually Costs.
Almost every board we talk to has a bank they like. Usually there is a story behind it. Someone on the board knows the branch manager, the association has banked there for fifteen years, and switching feels like a hassle nobody asked for. That loyalty is understandable, and we respect it. But when a board asks us to keep managing their money at a bank that does not integrate with our management platform, the request quietly creates work that never goes away. That ongoing work is the reason we charge a monthly maintenance fee for non-integrated banks. We would rather explain exactly what that fee covers than leave a board guessing. What “integrated” actually means A modern management platform connects directly to the association’s bank. Deposits, drafts, ACH payments, and cleared checks flow into the system automatically, every day, without anyone lifting a finger. Reconciliation happens against a live feed. Balances are current. The financial report a board sees at its monthly meeting reflects reality, not a snapshot someone stitched together by hand three days ago. When the bank does not integrate, none of that happens on its own. The association loses a specific set of automations that most boards
