Skip to main content
_FB_2018-Icons-finalized-cleaned-up_new_FB_2018-Icons-finalized-cleaned-up_newGroup 9
Back
Scroll to top

What You Need to Open a Business Banking Account

Once you’ve started a business, the money is going to be coming in. You will need a business banking account to keep finances in order and manage cash flow. But, before you head down to your local First Bank,* grab these key documents so your application goes smoothly.

Bring These Documents to Open a Business Banking Account

Every financial institution has a procedure for business owners who want to open a bank account. Because businesses make more withdrawals and deposits than the average customer, there are a few documents that a financial advisor will need to see during the application process.

  1. Business Licenses

Bring along your official license to practice your profession or skill. This extends from everything from law to construction. If your license is in process, ask for an official document stating so from the licensing source.

  1. Registration of Business

Before opening your business, you probably had to register with the city or state. Be sure to bring the official name and registration information along with you to the bank. This will improve your credibility during the application process.

  1. Documentation of Account Holders

If your business banking account will be accessed by more than one person, thorough identification will be required of each party. For most applications, a driver’s license, passport or other government picture ID will suffice. It is helpful for all account owners to be present during the application process.

  1. Deposit Amount

Business banking accounts usually require an initial deposit to be opened. Deposits should be made in cash or in money order form and should meet or exceed the minimum required.

Once you have gathered the necessary documents and banknotes, you can arrive fully prepared for a business banking account application.

Choosing a Business Banking Institution

First Bank business banking solutions are designed for convenience and security. We offer a comprehensive range of business banking accounts designed to meet the unique needs of your company. Contact us today to learn more.


*Member FDIC.

———

Sources:

Business News Daily: http://www.businessnewsdaily.com/6477-business-bank-account-documentation.html

Trending Topics

Banks That Offer Personal Loans – North Carolina

Have you been looking for a bank that offers personal loans in North Carolina? Are you tired of sifting through endless search results only to be disappointed by your options? With plenty of North Carolina banks offering...

Personal Loan Rates In Sanford, NC

If you live in Sanford, NC, and are looking for some of the best personal loan rates in the area, your local First Bank can help. We offer personal loans with flexible terms and highly competitive interest rates....

How To Make A Budget

The best way to save money and gain control over your finances is to make a budget. Follow these simple steps to make a budget that will save you money and bring you peace of mind about your spending. Making a Budget...

Small Business Loans for Women – Asheville, NC

Asheville, NC, has plenty of resources available for women entrepreneurs and business owners, making it a great choice for any women looking to start a business. If you’re an aspiring entrepreneur, First Bank offers...

Get a Jump-Start with the Best Savings Account for Kids in Florence, SC

The percentage of children in Florence, SC, under the age of 18 (24.2%) ranks higher than the state average (22.0%) and even the national average (22.6%). Given this abundance of young children in the area, it’s...

Best Checking Accounts – North Carolina

First Bank strives to provide our customers with the best checking accounts in North Carolina. That is why each of our checking accounts comes with unique benefits such as free online and mobile banking and free online...

5 Ways to Get the Lowest Mortgage Rates

If you are looking for some of the lowest mortgage rates in North Carolina or South Carolina, First Bank might be able to help. Choosing a mortgage option can be one of the most confusing aspects of the home purchasing...

Savings Account Interest Rates in South Carolina

Whether you’re searching for savings account interest rates in South Carolina, looking for an account with a higher rate of return, in the market for a long-term savings strategy with tax advantages, or looking to...

College Savings Account in Wilmington, NC

Whether you’re a parent looking to put away money for your child’s university tuition or a high school student trying to save some spending money for college, a savings account with First Bank in Wilmington,...

Finance 101: Banking Basics

Finance 101: Investing in your financial future is one of the smartest things you can do. But there is more to building healthy finances than simply stashing away extra cash in your piggy bank. In this...