Residential address (required only for owners of 25% or more and one controlling person documentation to verify this information may be required if third-party verifications are not successful.You must provide information about your business, including business name, taxpayer identification number, transaction activity, and number of employees.įor all individuals associated with the business, the following information is needed: Applicants are required to bring one government-issued ID and a business formation document. You can visit any Citibank branch to open a business checking account. Savings, money market, certificates of deposit (CDs), credit cards, lending See more providers in our roundup of the best small business checking accounts. Learn if it fits the bill through our Mercury business checking review. The financial technology (fintech) solution Mercury offers fee-free incoming and outgoing wire transfers. You rely on wire transfers: Citibank charges high fees for wire transfers.Read our review of Bluevine business checking for more information. Bluevine charges no monthly fee and earns 2.0% APY on qualifying balances of $250,000 or less, provided you meet its activity requirements. You want to earn a competitive annual percentage yield (APY) on a fee-free account: Citibank charges a $30 monthly fee for its interest-earning accounts.Our Chase business checking review can provide more information. Consider Chase for access to physical branches in all 48 mainland states. Nevada, New Jersey, New York, South Dakota, and Virginia) and Washington, D.C. You operate outside Citibank’s service area: Although Citibank has 700+ brick-and-mortar branches, it operates in only 10 states (California, Connecticut, Florida, Illinois, Maryland.You want to earn cash back on account opening: New Citibank business checking accounts that meet Citibank’s activity requirements can earn cash back up to $2,000.These provide fund transfers to your overdrawn checking account from a line of credit or linked checking, savings, or money market account. You want to avoid overdraft fees: You can enjoy safety from overdraft fees with CitiBusiness ® Checking Plus and CitiBusiness ® Safety Check.Your business has a low monthly transaction volume but requires high cash deposit amounts: Citibank’s CitiBusiness ® Streamlined Checking provides up to 250 free monthly transactions and free cash deposits of up to $10,000 per month.
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