What Do I Need to Open A Business Account?

There is specific information we are required to collect on a business—Sole proprietorship, Partnership, Limited Liability Company or Corporation and other non-natural person entity, such as an association or trust. 

  • Name
  • Address or place of business
  • Employer identification number (EIN)*

*FNB will not be able to open the account if the business is awaiting the issuance of its EIN.

Verification of the identity of the business: Before opening an account for a business FNB will verify the existence of the business by making a copy of the Original or Certified Original of the following:

  • Articles of Incorporation or partnership agreement; or
  • DBA (Doing Business As) papers filed with the County Clerk stating the name of the business and the person(s) officially listed as doing business under that name; and/or
  • Board of Directors Resolution (must include signature of the President and Secretary) stating the approval of opening an account under the business name and the authorized signers of the account.

We also collect:

  • social security number
  • driver license number and
  • date of birth of the owner(s) of the business and the authorized signers of the account.

Business Savings Accounts

 

Money Market Account (Interest Bearing Account)

View Current Rates Here

Account Details:

  • $1500.00 minimum balance to open
  • Interest will be compounded every month. Interest will be credited to your account every month.
  • Transaction Limitations: Transfers from a Money Market account to another account or to third parties by preauthorized, automatic, computer, or telephone transfer or by check, debit card or similar order to third parties are limited to six per statement cycle of at least four weeks.  If you exceed the transfer limitations set forth above in any statement period, your account may be subject to conversion to a checking account.
Minimum Daily Balance
Below $1,500.00 $10.00
$1,500.00 or above No Charge

 

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Savings (Interest Bearing Account)

View Current Rates Here

Account Details:

  • $50.00 minimum balance to open
  • Interest will be compounded every day. Interest will be credited to your account every month.
  • Transaction limitations: Transfers from a Savings account to another account or to third parties by preauthorized, automatic, computer, or telephone transfer or by debit card or similar order to third parties are limited to six per statement cycle of at least four weeks. If you exceed the transfer limitations set forth above in any statement period, your account may be subject to conversion to a checking account.
  • Excess Withdrawal Fee: An excess withdrawal fee of $1.00 will be charged for each debit transaction (withdrawal, automatic transfer or payment out of this account) in excess of nine during a calendar quarter.
Minimum Daily Balance
$25.00 and above No Charge
below $25.00 $1.00

 

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