We make things easier
We know how important it is to grow your business, rather than getting bogged down by the nitty-gritty details. That’s why we make everything about our business checking account smooth and easy, from making purchases to paying bills. You’ll get your first 300 transactions free, and there’s only a $0.15 fee for transactions after that. Online Bill Pay is a breeze too. Pay somebody once, set up recurring payments, and manage all your bills in the same place.
“I have been banking with Elevate Credit Union for 20 plus years now, I could not recommend a better place to bank!"Lyndi, Member since 1999
Frequently Asked Questions
To open a business checking account, individuals should bring the following items:
- Government Photo ID* (driver’s license, passport, or another form of government-issued photo identification)
- The second form of ID (debit card, credit card, a letter with your name, some other form of identification)
- Social Security Number
- Deposit of at least $25
Additional documents are required for opening a business account, depending on the type of business that you have.
- Sole Proprietorship- Business License or DBA Certificate of Registration, Federal Tax ID Number(TIN) letter, or SSN
- Partnership- Partnership Agreement (or Limited Partnership Agreement), Beneficial Owner Form, and DBA Certificate of Registration (if applicable)
- Corporation- Articles of Incorporation or Certificate of Good Standing, Federal Tax ID Number(TIN) letter. and Beneficial Owner Form
- LLC- Articles of Organization or Certificate of Organization or Certificate of Formation, Federal Tax ID Number(TIN) letter. and Beneficial Owner Form
- Unincorporated Association- Federal Tax ID Number(TIN) letter. Plus one of the following: Business License, DBA Certificate of Registration, Organization/Association or Bylaws, Certificate of Good Standing, Certificate of Formation, Certificate of Organization, Statement of Organization or Certificate of Registration
Federal law requires that we collect information about beneficial owners for new business accounts. Beneficial owners are individuals who own 25% or more of the legal entity and individuals who have significant responsibility to control the legal entity. You can download and fill out a beneficial owner form to bring with your new account. The form needs the following information from beneficial owners:
- Date of birth
- Social Security Number
- Driver’s License, State-Issued Identification Card, Passport, or Alien Identification Card
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