Who is Bank United? What Does Bank United Onboarding Look Like?

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For Direct Custody Accounts

Bank United is a key banking partner of Rocket Dollar, along with our custodian partner, Digital Trust. Together, they provide clients the ability to process investment transactions, whether it's an initial investment or a return of investment proceeds, such as a payment distribution. 

For cash deposits, Digital Trust works with an additional number of depository institutions. If you have questions about depository relationships, Digital Trust, Bank United, FDIC insurance, and how that relates to your direct custody retirement account, please contact us at 855-762-5383 

For accounts with checkbook control

Bank United is our primary banking partner for the Checkbook IRAs and Solo 401(k) trust checking accounts for our checkbook control SDIRA. Funding of the IRA or Solo 401(k) drops into your LLC or Trust Bank account. During onboarding, the bank will send a series of documents via DocuSign requiring your digital signature.

Do I need a Bank United account with my Rocket Dollar account?

Clients with a Direct Custody account do not need a Bank United account login. They can check their balances on app.rocketdollar.com/login, and if necessary, Digital Trust’s portal to check live balances. We are working closely with Digital Trust to improve the speed of live reporting of balances.

Clients with a checkbook IRA or Solo 401(k) must work with Bank United. Other than a $10 wire fee, your Rocket Dollar monthly fee covers all basic banking fees, and you do not have to maintain any minimum balance or activity.

Clients with a low about of investment activity prefer the convenience of a direct custody account, so the Rocket Dollar team can send funds with their authorization. Clients with a high number of monthly transactions, such as individual real estate property lenders with no property manager, or high-volume lenders, may prefer a checkbook bank account. 

Rocket Dollar has specifically chosen to work with Bank United after a review process, as many banks do not understand the complexities of Self-Directed IRAs.

Can I get Bank United-specific support?

Bank United has allocated a dedicated and experienced team of Bank United employees to assist Rocket Dollar customers. This team can assist you with wires before you have online access or urgent questions on checks. Please let our support team know if you need the dedicated Bank United Rocket Dollar customer phone number or extra assistance.

What does Bank United onboarding look like?

  1. The first email is titled “Bank United Welcome Email,” will come from DocuSign, and looks like this:

  2. The second email is a Treasury Management DocuSign and allows Bank United to create an online login for you.

  3. Finally, the third email will be your online banking credentials, from which you can manage your account at Bank United. If you need or do not see your password, you can respond directly to the email that sent your credentials.

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