Starting a new business? Make things official with a business bank account. The perks of opening a business bank account include staying organized by separating business and personal finances, establishing business credit, simplifying tax filing, and building bank relationships.
Opening a business bank account is a bit more involved than opening a personal account. You need certain information and documents to get started.
PrimeWay Federal Credit Union is here to help you simplify and streamline the process.
Why Open a Business Bank Account at PrimeWay Federal Credit Union?
Here's why PrimeWay is the right choice for your business banking needs.
- Flexibility: Whether you have a small business, medium enterprise, or large company, PrimeWay offers flexible, affordable accounts for your unique needs.
- Financial Management Tools: Run your business more efficiently with state-of-the-art online and mobile banking tools.
- Paperless Statements: Go paperless and streamline your business with our paperless statements.
- Convenience: We bring business services where you need them, right to your neighborhood. Choose from eight retail centers and more than 55,000 ATMs worldwide.
- Business Account Alerts: Get automated notifications of activity on your account so you always know what's happening with your money.
- Convenient Payment Options: Have clients who want to pay with credit cards? Need an inexpensive way to pay your vendors? We offer convenient payment options to meet your needs.
- Self-Service Options: Prefer a hands-on approach to money management? We have self-service options so you can be in charge of your finances.
- Advice When You Need It: We have an experienced team of Financial Service Representatives to answer any questions you have.
- Low Fees: We believe that business banking should be as affordable as it is convenient. Our business clients enjoy affordable rates and fees every day.
At PrimeWay, we aim to help local businesses thrive with cost-effective and convenient banking solutions. With business checking accounts, savings accounts, and debit cards from us, you can feel confident that your money is safe, fiscally secure, and ready to use when you need it.
Requirements for Opening a Business Bank Account at PrimeWay Federal Credit Union
In order to open a business bank account with us, you must have the following:
- Articles of Incorporation/Formation: Articles of Incorporation are filed with your state to legally document the creation of your corporation. These documents contain general information about your business, including your business name and business location.
- Signed and notarized documentation naming current Directors/Officers: This is also known as an incumbency certificate, and it lists the names of your current directors, officers, and in some cases, key stakeholders. This documentation legally validates and identifies who can enter into legally binding agreements on your company's behalf.
- Certification of EIN issued by the IRS or TIN: You need your federal tax ID number for the business, also known as an employer identification number.
- Assumed Name certificate (if applicable): If you have a DBA (doing business as) or assumed names, you'll need an Assumed Name certification, proving that your company has the legal right to use that name.
We're also a credit union located in Houston, Texas. So, you must also be a member of PrimeWay and reside in Texas to open a business bank account with us.