Ensure your money works as hard as you do with an Embassy National Bank business savings account. Setting up a business savings account today will build your financial sustainability for tomorrow. Our business banking representatives will guide you through the process and help you understand the benefits. A few of the top highlights from the Embassy National Bank business savings account, include:
- Opening balance requirement: $100
- No minimum balance requirement to earn interest (Link to Current Interest Rates: www.embassynationalbank.com/rates.html)
- No monthly maintenance fee
- Interest compounded daily based on ledger balance, paid quarterly
- Quarterly statement cycle
- Pre-authorized transfers or withdrawals are limited to six (6) per calendar quarter, or statement cycle, of which no more than three (3) may be by internal transfer.
- Excessive withdrawals may result in a fee
- Consistent excessive withdrawals will result in the account being converted to a demand deposit account
- Unlimited withdrawals can be made in person
Opening a Business Savings Account Is Simple
At Embassy National Bank, we have simplified and streamlined the process of opening a business savings account. To get started, bring the following documents to Embassy National Bank:
- Business tax ID number or Employer Identification Number (EIN). If your business is a sole proprietorship, you can simply use your Social Security Number.
- Articles of organization, articles of incorporation, or a charter. We may also be able to accept a similar legal documentation that demonstrates when your business was formed. If you have a sole proprietorship, these documents may not be required.
- Everyone who will be an authorized check signer or make transactions on behalf of the business must have a Social Security Number and government-issued photo identification.
Determining the Legal Structure of Your Business
Embassy National Bank may require specific documentation to determine the legal structure of your company.
- Limited liability corporation (LLC) must have an official articles of organization that lists all of the managers and members of the company.
- Sole proprietorships must have documentation of the assumed name certificate, which will indicate “Doing Business As.”
- Nonprofit organizations should present a charter or any other governing documents that lists each member-elected officer.
- All types of partnerships must have an agreement listing the general partners and the name of the partners.
- Corporations are required to present the articles of incorporation.
Contact a Business Banker at Embassy National Bank Today
With the Embassy National Bank business savings account, you can save money at the pace of your business. We understand the natural ebbs and flows of business. As a result, this account has no minimum balance requirements to earn interest or monthly maintenance fees.
Ensure the financial sustainability of your business by opening a business savings account at Embassy National Bank.