A guide to using a virtual mailbox for accounting and banking

July 2, 2024
Sarah Ahmad

Looking for added flexibility and convenience in your business? A virtual mailbox service may be precisely what you need. It lets you keep up with correspondence from anywhere and eliminates the need to maintain a physical address, allowing you to work from home, run a business from a different state, and even travel while still keeping up with vital communication. 

However, the question on many business owners' minds is, "Can I use these solutions for accounting and banking purposes?"

We’ll explore these questions below and highlight some of the best virtual mailbox solutions for handling your accounting and banking needs.

What is a virtual mailbox?

A virtual mailbox is a digital service that receives physical mail on your behalf and forwards it to you, scans it, or shreds it, depending on your requirements. 

When you sign up with one, you receive a virtual address — an actual mailing address, much like a physical street address managed by your virtual mailbox provider. You can use the address to register your business, communicate with stakeholders like suppliers, and even receive tax correspondence from entities like the IRS.

With the average cost of renting an office space ranging between $10 to $60 per square foot (depending on office class), a virtual mailing address is a more cost-effective solution for startups and small businesses looking to manage their overhead expenses. 

3 benefits of virtual mailboxes for banking

Is a virtual mailbox worthwhile beyond the affordability aspect? Definitely! Let’s look at some of the top benefits of using a virtual address for banking.

1. Establish a local business presence

Banks typically require a physical business address when opening an account, as it helps them comply with requirements like Know Your Customer (KYC) and mitigate risks associated with fraud. This means you need a local presence in whichever state you plan to open your business. 

However, as mentioned earlier, physical spaces don't come cheap, which can be restrictive for startups and small businesses. That's where virtual mailboxes come into play. They can provide you with a virtual address that serves as a physical presence and, as such, can help you meet most banks' requirements. 

2. Get an added layer of security

Virtual mailboxes are a safer solution than the physical mailboxes (which have no built-in protections) available in homes and offices. Reliable service providers have on-site security measures as well as virtual security measures like encryption to protect your mail. This added layer of security limits the risk of banking and accounting information falling into unauthorized hands. 

3. Manage mail from anywhere

Waiting for your bank to deliver your mail to your service provider and for your provider to forward the mail to you can take a lot of time. And, with banking correspondence often being time-sensitive, there's a good chance you could miss some deadlines. 

However, virtual mailbox providers like Stable eliminate this risk by providing scanning services. This means seeing and responding to banking notices on time. 

Say your bank sends an overdraft notification to your service provider; they'll scan it and send it to you, allowing you to transfer money immediately to avoid an overdraft penalty. Regardless of your location, whether at home, out of state, or even out of the country, you never have to worry about delays. 

Further, some mailbox providers offer check deposit services, which can save you regular trips to the bank and allow you to close accounting books faster!

Do banks accept virtual mailboxes?

The answer to this question isn't straightforward. Yes, some banks accept virtual mailboxes, but others don't. 

Virtual mailboxes are great for the reasons discussed above and are sometimes necessary if you're traveling or if you work from home and don't want to use your home address. However, some virtual mailbox services get flagged as commercial mail receiving agencies (CMRA) — businesses that accept mail on behalf of their customers. 

If this happens, your address may be subject to additional scrutiny, and your bank may even deny your account application. This is because such mailboxes can cause verification difficulties and make it difficult for banks to comply with KYC requirements. 

The good news is that not all virtual mailbox services are flagged as CMRAs. You can use your virtual address to open a bank account, but only if you confirm its status first. 

How do I choose a virtual mailbox service?

Some entrepreneurs assume that shopping around for high-quality services ends when they find a good bank for startups. However, this is just part of the battle. 

You also need to shop around for the right virtual mailbox service, as this determines how easy it is to open your business account and how effectively you handle banking and accounting correspondence. Remember, the address you provide when opening your account will act as your billing address, so this is also where merchants may choose to mail your invoices and receipts. 

How do you choose the right one? Here are some factors to consider:

  • Features: Find a service provider with vital features like mail scanning and forwarding services so you can manage your mail from anywhere. 
  • Security: Confirm whether your potential provider has reliable on-site security and adheres to SOC 2 and HIPAA security standards. 
  • Reputation: Look up any potential provider's reviews to ensure they're reliable and offer high-quality customer service. 
  • CMRA flag: Chat with your would-be provider's sales team to confirm whether it is flagged as a CMRA. Alternatively, you can check with other businesses that use the mailbox provider or use a tool like Smarty's U.S. Address Verification.
  • Pricing: The last thing you want is to spend as much on a virtual mailbox as you would on an office space. So, shop around for different address charges and weigh your options to find an affordable one. However, this isn't to say you should always go for the cheapest choices — find a balance between quality and cost to streamline business operations. 

5 best virtual mailboxes

Don't have the time to vet all the virtual mailbox options available for your business? Don't worry — we've got you! Here are some of the best service providers:

1. Stable 

Stable is a virtual mailbox provider with addresses in different locations, including New York, California, Texas, Delaware, and Florida. With Stable, you get a permanent virtual address, so you never have to worry about updating it every few months or years. 

The Stable platform is built to ensure convenience for all users, as it shows you all your mail in a centralized location. You can even deposit checks from anywhere with a single click, meaning you can handle your banking needs on the go. Beyond that, you also enjoy a wide range of features, such as:

  • Unlimited cloud storage to allow you to view business mail whenever you want
  • Notification features to let you know when you have new mail
  • Secure physical mail shredding to prevent your banking or accounting info from reaching unauthorized hands
  • Receiving packages from all carriers, including USPS, FedEx, UPS, and DHL
  • Registered agent services to receive legal correspondence on your behalf


Stable offers three mailbox plans at $49/month for the Growth plan, $89/month for the Scale plan, and custom pricing for businesses with specialized requirements. 

2. Anytime Mailbox

Anytime Mailbox is a virtual provider with addresses in major cities worldwide, making it a suitable option if you're an expat or have a global presence. Its platform mimics email programs, which positions it as a popular tool. Other features that have landed this provider on this list include:

  • Unlimited online storage
  • Shredding and recycling 
  • Check deposit services


  • Some features, like check deposit services, are only available in select locations. 
  • Some locations have minimal virtual addresses. 
  • High pricing for premium addresses. 


Pricing starts at $5.99+ per month, but it varies based on location and your chosen package. The better your location and services, the higher the pricing will be. 

3. Legal Zoom Virtual Mail

Legal Zoom Virtual Mail, formerly Earth Class Mail, offers both individuals and businesses virtual addresses across the U.S. It's one of the most widely known options because of features like:

  • iOS and Android apps for enhanced user experiences 
  • Numerous mail services, including scanning, forwarding, and shredding
  • Barcodes to track all pieces of mail


  • P.O. Boxes for some addresses
  • Strict mail item limits for its plans 
  • High prices for services above your plan's limits 


Charges $29, $39, and $79 per month for its Starter, Essentials, and Premium plans. 

4. iPostal1

iPostal1 offers addresses in all major U.S. states and numerous cities worldwide. It's on this list because it provides streamlined mail management, allowing digital nomads to handle their correspondence seamlessly from anywhere. Key features include:

  • Over 2,700 global locations 
  • Shows real-time shipping costs 
  • Automated email notifications 



Charges $9.99, $14.99, $24.99, and $39.99 monthly for Green, Blue, Silver, and Gold plans. 

5. Virtual Post Mail

Virtual Post Mail offers digital mailbox services in Delaware, Nevada, California, and Florida. It provides unlimited storage space, allowing you to store digital mail for as long as necessary. Other features include:

  • Check deposit services at a fee 
  • Optical Character Recognition feature to make it easy to extract text from images
  • Mail forwarding and scanning services 



Charges $20, $35, $60, and $90 per month for Starter, Plus, Business, and Premium plans. 

Establish a local address, manage your mail, and easily deposit checks with Stable

Using virtual mailbox services for banking and accounting can enhance your mail security and allow you to respond to correspondence quickly from anywhere. To enjoy such benefits, find a reputable, reliable, non-CMRA-flagged service provider like Stable. 

With Stable, you can say goodbye to inefficiencies in your mail management processes. We offer same-day mail processing, digitize all your correspondence, and send notifications, ensuring you never miss vital banking communication no matter where you are. Further, you can deposit checks through the Stable platform, allowing for easy reconciliations. 

Create a Stable address today for seamless bank account opening, check depositing, and business correspondence management! 

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