Opening a Business Checking Account
What documents do I need to provide to identify my business?
|Sole Proprietorship: Certificate of Assumed Name from the State of Minnesota.|
|Partnership: Partnership Agreement and Certificate of Good Standing from State of Minnesota.|
|Corporation: Articles of Incorporation and Certificate of Good Standing from State of Minnesota.|
|LLC: Articles of Organization and Certificate of Good Standing from State of Minnesota|
What information do I need to provide for authorized signers?
Each authorized signer on the account needs to provide a valid driver's license and his/her social security number in addition to their current address.
What tax ID numbers are needed?
In the case of a sole proprietorship, the tax identification number needed will generally be the owner's social security number. For other types of businesses, a federal tax identification number will need to be provided.
What is the minimum deposit to open a new account?
The minimum deposit to open an account is $200.00.