Business Savings & Money Markets
When you own a business it's important to always plan for the future and prepare for the unexpected. Make sure while you're hard at work, your money is too!
Take Your Pick
Most businesses need a savings account—but every businesses' needs are different. You deserve a savings account that fits your business and banking needs.
Simply Business Savings
Set yourself up for success with a savings solution that is convenient & easy-to-use.
- Earns interest
- Unlimited withdrawals & transfers
Business Money Market
Make the commitment to invest your business dollars with an account that offers you full access to your funds when you need it.
- Earns higher interest
- Unlimited transactions
Compare Your Business Savings Options
*Effective as of 1/21/2025
| Simply Business Savings | Business Money Market | Business Certificate of Deposit | |
|---|---|---|---|
| The Right Tool For | Build cash reserves | Earn higher rates while maintaining access to funds | Grow your investment with a fixed rate while keeping it FDIC insured |
| Minimum Balance | $100 | $10,000 | Varies depending on term |
| Earns Interest | |||
| eServices | |||
| Service Charges* | $5 per month if daily balance falls below $100 | $10 per month if daily balance falls below $10,000 | Penalty for early withdrawal |
| Account Details | Learn More About Simply Business Savings | Learn More About Business Money Market | Learn More About Business Certificate of Deposit |
*Fees may reduce earnings. Other charges such as non-sufficient funds, overdraft, continuous overdraft charges, etc. may apply. See our service charge schedule for details.
Business Account Checklist
Be prepared for a smooth account opening process with this list of items.
- SSN or EIN of Owner
- Required Business Information
- Business address
- Business mailing address if different than business address
- Email address
- Phone number
- TIN of LLC—Notice of EIN from the IRS
- Articles of Organization
- Operating Agreement
- Required Business Information
- Business address
- Business mailing address if different than business address
- Email address
- Phone number
The following information is needed for Beneficial Owners. Beneficial Owners are individuals who directly or indirectly own 25% or more of the legal entity and/or the individual who has significant responsibility for managing the legal entity:
- Name
- Physical address
- Date of birth
- Social Security number
- Valid government-issued ID
- Phone number
- Percentage of ownership
- Title/position
- TIN of Partnership—Notice of EIN from the IRS
- Partnership Agreement
- Certificate of Partnership
- Required Business Information
- Business address
- Business mailing address if different than business address
- Email address
- Phone number
- Name
- Physical address
- Date of birth
- Social Security number
- Valid government-issued ID
- Phone number
- Percentage of ownership
- Title/position
- TIN of Organization—Notice of EIN from the IRS
- If incorporated, follow corporation guidelines
- If tax-exempt, IRS documentation or tax return
- If not tax-exempt, authorization letter
- Meeting minutes showing signers and titles
- Required Business Information
- Business address
- Business mailing address if different than business address
- Email address
- Phone number
- Name
- Physical address
- Date of birth
- Social Security number
- Valid government-issued ID
- Phone number
- Percentage of ownership
- Title/position
- TIN of Corporation—Notice of EIN from the IRS
- Articles of Incorporation
- Required Business Information
- Business address
- Business mailing address if different than business address
- Email address
- Phone number
- Name
- Physical address
- Date of birth
- Social Security number
- Valid government-issued ID
- Phone number
- Percentage of ownership
- Title/position