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BUSINESS CHECKING ACCOUNTS

Business Checking to fit your needs

These days, small businesses need easier and faster access to their cash than ever before to keep up with their customers and related expenses. U.S. Eagle offers specially designed business checking accounts & small business checking accounts to take some of the headache out of managing your daily transactions and monitoring your current finance. Don’t let the big banks stifle your small business by telling you how and when you can spend your money - open a business checking account with U.S. Eagle and bank without limits.

We have two distinct Business Checking Accounts: one for small businesses and organizations; one for small- to medium-sized companies that have higher transaction counts.  

Both Business Checking accounts provide the following items for free:

  • Unlimited electronic debit card transactions
  • Visa Business Debit Card
  • Debit Card Replacement
  • Online Banking
  • Mobile Banking

Small Business Checking

Small businesses (like sole proprietorship), or those with low transaction volumes, will love our Small Business Checking account. This non-interest bearing account is simple, straightforward, flexible, and easy to manage. 

  • An account analysis statement that shows your previous month’s activity and associated fees, mailed monthly separate from your monthly statement
  • Very low minimum average daily balance of $500 to waive monthly service charge
  • Up to 50 free transaction items per month
  • Up to 5 free deposits per month

Preferred Business Checking

For small- to medium-sized businesses with a high number of transactions, our Preferred Business Checking Account provides features to maximize convenience and make running your business easier:

  • An account analysis statement that shows your previous month’s activity and associated fees, mailed monthly separate from your monthly statement
  • Low minimum average daily balance of $2,500 to waive monthly service charge
  • Up to 200 free transaction items per month
  • Up to 20 free deposits per month
  • Earns Dividends on Balances over $500

To help you decide which account best fits your needs, the features and benefits of both Business Checking accounts are compared in the table below:

Compare Features

 Small Business CheckingPreferred Business Checking
Best FitsSmall business or organization with low balances and transaction volumeSmall- to medium-sized business with moderate transaction volume
Earns DividendNoYes
Business Debit CardFreeFree
Replacement Debit CardFreeFree
Monthly Service Charge$5.00$10.00
Average Balance to Waive Monthly Service Charge 1$500$2,500
Free Check Items Per Month 225 Cleared, 25 Deposited100 Cleared, 100 Deposited
Fee for Each Additional Check Item$0.10$0.10
Free Deposits Per Month 3520
Fee for Each Additional Deposit$0.50$0.50
Electronic Debit TransactionsFreeFree
Currency Issued/DepositedFirst $1,000 FreeFirst $5,000 Free
Cash Deposited/Withdrawn via Teller 0.5%0.5%
Business Internet BankingFree 4Free 4

Notes:

1. Average Balance = Average of Daily Balances during Statement Month
2. Includes checks cleared and deposited.
3. Limit of 100 items per deposit
4. ACH and Wire Transfers may incur fee.

Our business online banking platform provides you with better control and better online accessibility through the following features:

  • Shared accessibility to your business checking account.  You can assign specific access levels to employees to make approved payments, etc.
  • Account-to-Account transfers via online banking
  • Separation of your business account from personal accounts
  • Online Bill Pay 
  • Schedule account alerts 
  • Free eStatements (also available in printable format)

How to Open a Business Checking Account

Here is a list of the most common documents and information you will need to open a Business Checking Account for your business or organization:

  • Valid Government Issued Identification for all signers 
  • Valid Social Security Number for all signers 
  • Federal Tax ID Number (EIN) or valid Social Security Number for the business account. 
  • If using an EIN: 
    • Letter or printout from IRS, or copy of prior year filed tax return showing EIN and business name 
    • Meeting Minutes are needed to add an individual other than a spouse as an authorized signer.
  • One of the following is required: 
    • Current Business License/Registration/Permit- Required if the business is in an area that issues business licenses (e.g., Albuquerque, Rio Rancho) 
    • Current Occupational license issued by city, state, or county
    • State of New Mexico Taxation and Revenue Dept. Registration AND Current Business License/Registration/Permit 

If your business is an LLC, corporation, or partnership, other documentation will be needed.  Please call us at 505-342-8888 for more information.

To apply for one of our Business Checking Account products, please stop by any of our U.S. Eagle branch locations or call us at 505-342-8888.


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