Choose the Account That Matches Your Business Needs
Running a business means every dollar matters. Our business checking accounts are built to give you the right balance of features, convenience, and value—so you only pay for what you need and can focus on growing your business.
Encore |
Elite |
Edge |
|
|---|---|---|---|
|
Opening Balance Requirement |
Encore$2,500 |
Elite$500 |
Edge$100 |
|
Monthly Maintenance Charge |
Encore$20 |
Elite$12 |
Edge$7 |
|
Fee Waiver Requirements |
Encore$50,000 Average Daily Balance or |
Elite$15,000 Average Daily Balance or |
EdgeEnroll in E-statements for a $2 Reduction |
|
Earns Interest |
Encore✓
|
Elite✓
|
Edge- |
|
Discount on Remote Deposit Capture (RDC) Services |
Encore10%
|
Elite5%
|
Edge- |
|
Discount on ACH Payroll Processing Services |
Encore10%
|
Elite5%
|
Edge- |
|
Free Educational Seminars to Employees |
Encore✓
|
Elite✓
|
Edge- |
1Total relationship is based on same tax identification number, outstanding loan balances, and total average deposit balances.
What Every Business Checking Account Includes:
-
Online Banking & Bill Pay – Manage accounts and pay vendors from anywhere.
-
Night Drop Services – Secure after-hours deposits for added convenience.
-
Employee HSA Contributions – Payroll-deducted deposits made simple.
-
Business Debit & Credit Cards – Access funds and manage expenses with ease.
Frequently Asked Questions
Because businesses can be structured different ways, the documentation we will need to open your account will depend on your account type. In addition to the documents listed below, every account will require information on all authorized signers and beneficial owners.
For all authorized signers as well as any owner of the business where the percentage owned is 25% or more, we will require a valid photo ID, SSN, phone number, and email address.
To get started, here is a list of the documents you will need to open your account:
Sole Proprietorship
-
Social Security or EIN Number
-
Sole Proprietorship Resolution of Authority
-
Assumed Name Certificate (if applicable)
Limited Liability Company (LLC)
-
EIN Number (SSN acceptable for one-person LLC)
-
LLC Authorization Resolution
-
Articles Stamped "Filed'" or Certificate of Existence
-
Operating Agreement (States who is authorized to open the account)
Corporate Accounts: Non-Profit, For-Profit, Government Entity
-
EIN Number
-
Corporate Resolution
-
Certified copy of Articles of Incorporation or Certificate of Existence
-
Certificate of Good Standing, address and date of birth on all authorized signers
Club or Civic Organization
-
EIN Number
-
Resolution of Lodge, Association, or other similar organization
-
Bylaws or similar document outlining the purpose of the organization
Our account representatives are here to guide you through the account opening process and are available to answer any questions you may have.
During account opening we will complete a Business Resolution which will allow certain signers or owners to make account changes. If a change is needed simply reach out to your dedicated Osgood Banker and they will start the process of removing or adding signers and updating your records with us immediately.
A business account helps to separate personal assets from those of your business. With a business account, you will deposit payments made to your company and pay business expenses out of the business account(s).
Separate accounts and record-keeping makes it easier for taxes and may protect your personal assets if a lawsuit should ever occur.