Who Is Eligible to Use Real Wallet?

At the moment, Real Wallet business checking and debit card services are limited to agents licensed in the United States who have completed payment and tax setup inside reZEN.

Canadian agents can view commissions in Wallet, but only select Canadian agents currently see an invitation for the Real line of credit.

Eligibility is tied to the agent’s status with Real. New associates must be in good standing, have passed compliance onboarding, and hold a valid U.S. Social Security number or EIN for the business entity they choose. The brokerage does not require a platinum production level or minimum asset balance to open an account.

That open-door policy makes Real Wallet one of the most affordable paths to integrated banking in the industry.

What Are the Steps to Apply for Real Wallet?

Applying happens inside reZEN.

First, an agent clicks the Wallet tab and chooses Get My Debit Card. The system walks through identity verification, business information, and a quick SMS code. I

ndividual sole proprietors provide name, address, and Social Security number. LLCs or corporations enter legal name, EIN, year, state of incorporation, and officer details.

Once the application is approved, the digital card appears immediately and a physical card arrives within seven to ten business days.

There is no lengthy underwriting interview, no hard credit pull for the standard checking account, and no need to mail paper forms. Agents who already have commissions flowing into Real simply toggle Auto Deposit Rules to set what percentage lands in Wallet versus an external bank.

How Fast Can You Access Funds, and How Does the Real Debit Card Work?

Commissions and revenue share hit Wallet as soon as Real’s finance team releases the payment, typically by 5 p.m. ET on business days, so the money is available the same day rather than the next morning.

Agents can swipe the Visa debit card anywhere Visa is accepted, add the card to Apple Pay or Google Pay for contactless checkout, or push an ACH to another bank. Because the debit card is tied to Thread Bank, every purchase draws directly on the FDIC-insured balance.

For agents who qualify, Wallet can also display a revolving line of credit. Although the product is currently Canada-only, Real has signaled plans to extend it to U.S. agents. Interest accrues at a flat ten percent, and repayment can be made through Wallet’s mobile check deposit or ACH.

Access to capital during uncertain market conditions, interest-rate hikes, short-term recessions, or listing droughts gives agents a cushion without tapping personal assets as collateral.

What Are the Key Benefits vs Traditional Banking for Real Estate Agents?

Traditional banks treat a commission as irregular income, often placing lengthy holds on large deposits.

Real Wallet treats each closing as a verified stream backed by Real’s own escrow and compliance records, so funds post faster and transaction fees stay low. Integration also simplifies tax planning because deposits, cap tracking, and deductions live in the same ledger, and agents can export directly to QuickBooks under “The Real Brokerage” as the bank name.

Using Wallet means agents no longer pay wire fees to move commission money or wait for mail checks. They can pay photographers, stagers, and advertising vendors straight from the account, earning interest on idle balances and rewards points on eligible debit-card spend. 

What Are the Limitations or Potential Drawbacks?

Because Real Wallet is powered by Thread Bank, any compliance flags, such as an address mismatch or EIN discrepancy, can delay approval.

Agents who operate large teams across multiple corporate entities must open separate Wallet accounts for each EIN, which complicates bookkeeping. The line of credit is not yet available in the United States, so U.S. agents seeking a commission advance still need third-party solutions.

Finally, Real Wallet does not yet support outbound wires, so international referrals may require a traditional bank.

How to Get the Most Out of Real Wallet

Treat Real Wallet as the command center for your business cash flow.

When a commission closes, let the full amount settle in Wallet first, then set automatic transfers that peel off money for taxes, marketing, or savings the moment it arrives.

Sync Wallet with QuickBooks or another bookkeeping app so every deposit and debit-card swipe is labeled in real time, turning tax prep into a quick review instead of a paperwork marathon.

Keep a comfortable balance on hand as a safety net; when a deal falls through or the market slows, you can still pay the photographer tomorrow without tapping personal funds.

FAQ’s About Real Wallet with Real Brokerage

Do I need an EIN / business entity?

No. Real Wallet accepts both individuals and entities. Sole proprietors can apply with a Social Security number, while LLCs upload EIN details. The application path changes slightly, but the account features remain the same.

How safe is my money?

Funds are held by Thread Bank, a federal savings bank that is a member of the FDIC, which insures deposits up to statutory limits. Real Brokerage itself is not a bank, but all Real Wallet deposits receive the same coverage as any other FDIC-insured checking account.

What about taxes/accounting?

Wallet exports directly to QuickBooks and other ledgers. Because commissions, revenue share, and debit-card expenses share one feed, agents can reconcile books faster and keep accurate cap and offset brokerage calculations for tax planning.

What if I change my business structure later?

Agents can open a new Wallet account under the updated entity and transfer balances internally. Real’s support team can redirect future commissions to the new Wallet once the brokerage records reflect the change, so the switch happens without interrupting daily banking.