Opening A Business Account With Banterra Is Easy
Here Is What You Will Need For A Quick Application:
Sole Proprietor
- Two valid forms of ID for business proprietor
- Business address
- Assumed name certificate may be required if your last name is not included in your business title
- Employee Identification Number (EIN) or copy of EIN letter if applicable
- Sole proprietor name will be listed first
- Business Resolution (provided within the online application) for authorized signers
Limited Liability Company (LLC)
- Articles of Organization
- Certificate of Good Standing
- Full Customer Identification Program (CIP) information
- Two valid forms of ID for all beneficial owners
- Valid driver's license or state issued ID for authorized signers (at minimum)
- EIN letter or comparable (tax document, etc.) if applicable
- Business Resolution (provided within the online application) for authorized signers
Corporation
- Articles of Incorporation
- Certificate of Good Standing
- Full Customer Identification Program (CIP) information
- Two valid forms of ID for all beneficial owners
- Valid driver's license or state issued ID for authorized signers (at minimum)
- EIN letter or comparable (tax document, etc.) if applicable
- Business Resolution (provided within the online application) for authorized signers
Organization/Association
- Meeting minutes stating:
- Approval to open the account
- Authorized signers on behalf of the entity
- Valid driver's license or state issued ID for authorized signers (at minimum)
- EIN letter or comparable (tax document, etc.) if applicable
- Business Resolution (provided within the online application) for authorized signers
General Partnership
- Partnership Agreement
- Full Customer Identification Program (CIP) information
- Two valid forms of ID for all partners
- EIN letter or comparable (tax document, etc.) if applicable
- Business Resolution (provided within the online application) for authorized signers
Non-Profit Organizations
- 501(c) letter or designation from IRS
- Certificate of Good Standing
- Valid driver's license or state issued ID for authorized signers (at minimum)
- State-filed Articles of Incorporation, when applicable
- EIN letter or comparable (tax document, etc.) if applicable
- Business Resolution (provided within the online application) for authorized signers
- Two valid forms of ID for all beneficial owners
Note that online applicants must be 18 years old and a US Citizen with a US address. Eligible states include Arizona, Colorado, Idaho, Illinois, Indiana, Kentucky, Missouri and Utah (state offerings may expand.) Federal law requires banks to obtain and verify your identity to help fight fraud.
Okay, I Am Ready To Open An Account.
Examples Of Acceptable Documentation:
Valid ID
- State Driver's License
- State ID Card
- Passport Book
- Social Security Card
- Birth Certificate
Address Verification
- Property Tax Bill
- Phone Or Utility Bill
- Insurance Card
Deposit
- Provide the account and routing numbers of your current banking relationship.
- Transfer funds from digital banking with existing bank account. Have your login information available.