Business Checking Accounts For Businesses & Non-Profits
Whether you’re a small business or a large organization located in Pennsylvania, our business checking accounts offer a low minimum balance account with access to our digital banking suite of products and Visa Business Debit Cards. You can explore additional business services to add on to your account.
| Carefree Business Checking | Business Interest Checking | Municipal and Nonprofit Priority Checking | |
|---|---|---|---|
| Minimum balance to open | $50.00 | $50.00 | $50.00 |
| Minimum to avoid service charge | None | $5,000 to avoid $6 service charge | None |
| Free items per month | 500 | 500 | N/A |
| Charge per item | $0.15 after 500 | $0.15 after 500 | None |
| Statements | Free paper or eStatements | Free paper or eStatements | Free paper or eStatements |
| Interest | None | Interest-bearing contact for rates | Interest-bearing contact for rates |
| Visa debit card | Yes | Yes | Yes |
| Digital banking access | Yes | Yes | Yes |
*Other fees such as non-sufficient funds, overdraft fees, etc may apply. See fee
schedule for details.
Why open a business checking account?
It’s necessary to open a business checking account to keep your business expenses separate from personal expenses. Having a business checking account allows you to cleanly keep track of business expenses and income. This is helpful when it comes to tax time. It also helps to build credibility and branding with your customers. Customers feel more comfortable seeing payments run through a business account. It’s also for your protection. If you are ever audited or face legal challenges, having a separate account gives a clear delineation between funds.
What do I need to open a business checking account?
When opening a business checking account with Pennian Bank, we may request the following:
- Sole Proprietor
- SSN or EIN of owner
- Limited Liability Corporation (LLC)
- EIN of LLC
- Certificate of Organization
- Operating Agreement
- Partnership
- EIN of Partnership
- Partnership Agreement
- Certificate of Partnership
- Not-for-Profit Organization
- TIN of Organization
- If incorporated, follow corporation guidelines
- If tax exempt, IRS documentation or tax return
- If not tax exempt, authorization letter
- Corporation
- EIN of Corporation
- Articles of Incorporation
- By-Laws
- Fictitious Business Name Statement may also be requested.
- You will also need the minimum deposit required to open the account. This may vary based on account type.
For Beneficial Ownership, individuals owning directly or indirectly, 25% or more of the legal entity/or the individual who has significant responsibility for managing the legal entity:
- Name
- Physical Address
- Date of Birth
- SSN
- Valid Government Issued ID
Do I need a business savings account?
Business Savings accounts can be useful in a variety of ways. For one, it helps you grow your reserve cash by earning interest. It also allows you to build a cushion of money for emergencies, such as equipment replacements, repairs and other unforeseen circumstances. It’s also helpful for saving money for tax payments and other planned expenses.
Are there other services my business may need from Pennian Bank?
Pennian Bank offers a variety of business services to our customers.
- Merchant Services – Accept credit/debit card payments from customers.
- Positive Pay – A powerful tool to help protect your business from fraud.
- Business Credit Cards – Increase your business’s purchasing power.
- Remote Deposit Capture – Deposit checks right from your PC.
- Digital banking with Bill Pay and Mobile Deposit – Pay your business’s bills and deposit checks through our app.
- ACH – Process payroll, pay vendors and manage corporate collections.
Talk to a Pennian Bank banker to learn more about how these products can work for your business.
Find A Bank Near You
Ready to open an account, or looking to visit a branch? Find your nearest Pennian branch or ATM, and start banking with ease today!
