As your trusted business banking partner, we’re dedicated to helping you grow and prosper through a wealth of value-driven financial products and services tailored to meet the needs of your small to mid-size business. With a minimum opening deposit of just $25, a business share account allows you to keep more cash flowing into your business instead of into fees and charges. It’s the most cost-effective choice for your small business.
- No minimum daily or aggregate balance requirements
- 500 free items per month PLUS lower fees and generous thresholds for higher volumes*
- Free Debit Mastercard® with customizable limits that grow as your business grows
- Free e-Statements
- Real-time transaction posting for same-day credit with no cutoff
- Remote deposit capture (includes free software and training)
- Comprehensive merchant services
- Easy access to credit with flexible terms and quick turn-around
- Sweep* capabilities that let you maximize your income automatically
Start Saving Today!
Ready to get started? In order to give you the time and attention you deserve, it’s best to schedule an appointment to open a business account. Call us at (301)797-6318 and choose option 9 to select the branch you’d like to visit. So that we can complete everything in one visit, please bring the following documents to your appointment based on the type of business account you want 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
Estate (Note: The administrator must be a member, or the decedent must have been a member.)
- Letter of administration or letters of testamentary
- Original or a certified copy of the death certificate
- Employer Identification Number (EIN/Tax ID)
- Social Security number of administrator(s)
- Unexpired identification of all parties that will be on the account
Though not technically business accounts, these accounts require special documentation. It’s best to schedule an appointment to open these, too.
Rep Payee Accounts
- A copy of the awards letter from the Social Security Administration naming you as rep payee
- Social Security Number of all parties that will be on the account
- Unexpired identification of all parties that will be on the account
- Date of birth of the beneficiary
Minor Accounts (custodial savings account held in the name of the minor, with a parent or legal guardian acting as the custodian until the child reaches the age of majority)
- Social Security Number of all parties that will be on the account
- Unexpired identification of all guardians that will be on the account
- Minor’s date of birth
*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)
- 0.10% for cash deposits and/or cash withdrawals in excess of $10,000/month
- $10 per sweep
