After months or years of dreaming and planning, you have finally established your new business or organization by filing the appropriate paperwork with the state, local, and/or federal government. Congratulations! Now, your next step is opening a business checking account so you can keep your business and personal income and expenses separated.
After doing your homework, you made the smart choice to open a new business checking account with Mercer Savings Bank because of the simplicity and flexibility offered by Mercer Savings Bank’s accounts.
Before heading to Mercer Savings Bank to open your new account, take a moment to make sure you have all of the required documentation first. To combat fraud, money laundering and other illegal activity, financial institutions are required by law to review certain documentation any time anyone wants to open a new account.
3 Things To Bring When Opening a Business Checking Account
Here is what you will need to provide to open your business checking account:
- Proof of identity. This may be your driver’s license, state ID card or passport. Make sure your address is current on your identification card.
- Proof that your business exists. If your business is a corporation, this will be your articles of incorporation; for a partnership or LLC, it will be a partnership agreement or articles of organization. Depending on what your business is, you may also have a business license issued by the state.
- Proof of EIN. Your Employer Identification Number, or EIN, is the nine-digit number issued by the IRS when you apply for a tax identification number for a business, not-for-profit company, trust or estate. If you have not obtained an EIN yet, it is a free and simple process you can complete in just a few minutes on the IRS website. At the end of the application, your EIN will be generated and you can print confirmation to bring with you to the bank when you open your new account.
When you have the required documentation, opening your new account should be both simple and fast, so you can begin experiencing the benefits of being a Mercer Savings Bank business customer right away.
To find out why both for-profit and not-for-profit businesses and organizations in Celina, Ft. Recovery and Greenville have chosen Mercer Savings Bank as their trusted business banking partner for more than 125 years, contact us today.