Whether you’re starting a new business or running an established one, our Business Accounts give you the secure and convenient tools you need to manage your money with confidence.
- No minimum daily or aggregate balance requirements
- 500 free items per month PLUS lower fees and generous thresholds for higher volumes*
- Debit Mastercard® with customizable limits that grow as your business grows
- Real-time transaction posting for same-day credit with no cutoff
- USB Payment Processing
It’s recommended to schedule an appointment to open a business account. Call us at 301.797.6318 option 9 to select the branch you’d like to visit. So we can complete your request during one convenient visit, please bring the following documents to your appointment based on the type of business account you wish to open:
Trading As
- Social Security Number of the owner
- Unexpired identification
Sole Proprietorship
- Employer Identification Number (EIN/Tax ID)
- Social Security Number of all parties that will be on the account
- Unexpired identification of all parties that will be on the account
Corporation
- Employer Identification Number (EIN/Tax ID)
- Social Security Number of all parties that will be on the account
- Unexpired identification of all parties that will be on the account
- Articles of incorporation
- Corporate resolution
Limited Liability Corporation (LLC)
- Employer Identification Number (Tax ID/ EIN).
- Social Security Number of all parties that will be on the account
- If the LLC is a single-member LLC, the IRS treats it as its sole proprietorship. Therefore, the social security number of the single-member can be used unless the LLC has employees or is required to file excise tax returns.
- Unexpired Identification of all parties that will be on the account
- Articles of Organization
- Operating agreement (if available)
Organization
- A dated letter, signed by an officer and one other person, other than the signers on the account, stating who has the authority to transact business for the organization
- If the organization is a local chapter of a large organization and has been given permission to use the organization’s EIN, a copy of the letter granting permission must be provided
- Social Security Number of all parties that will be on the account
- Unexpired identification of all parties that will be on the account
*The following fees apply to business accounts:
- $0.30 per item in excess of 500 items per month. Items are defined as: checks presented for deposit across the counter, debits (cash withdrawals, ATM withdrawals, Visa debit card purchases, ACH debits) and credits (ACH credits, deposits, ATM deposits)
- 0.11% for cash deposits and/or cash withdrawals in excess of $10,000/month
