Classic Business Checking

• Ideal for businesses with smaller transaction volumes
• No minimum balance requirements
• 150 free items per month; $0.35 per item thereafter
• Free online banking and mobile banking app
  • Get paid right into your account:
    • Send online invoices through online and mobile banking with Autobooks
    • Receive digital payments through online and mobile banking with Autobooks
    • Share a secure payment link 
  • Transactions available for download as QBO, QFX, CSV, TXT or OFV files
• Free eStatements
  • Paper statements available for $3 per month
  • Electronic check images available for free
• Free debit card(subject to approval) 
  • Get valuable rebates on your business spending with Mastercard Easy Savings.
  • Simply use your Security Federal Business Debit Card to enjoy automatic rebates at more than 50,000 merchants.¹ There’s no enrollment fee, no coupons and no codes.
  • Your savings will be applied to your account each month – automatically.
  • Mastercard Easy Savings is ready to save you money on your everyday business purchases. Start making the most of the program today.
  • Additional Information and participating merchants can be found at easysavings.com

• Paper checks available for a low monthly fee
• Additional business services available
• Overdraft protection available
• $100 minimum deposit to open

Your business type determines the documentation that will be needed to open a deposit account. The following items/actions are required for all business types:

• Business Name/Address/Phone Number
• EIN/TIN of Business
• Give Security Federal Bank permission to do a soft-credit pull¹
• Identifying Information on Beneficial Owners/Members and/or authorized signers
  • Minimum:  SSN, DOB, Address, Phone number, Acceptable Photo ID

 Sole Proprietorship

• Proof of Business/Business License (if applicable)
• Certificate of Assumed Name – if required by state law

 Partnership

• Partnership Agreement 
• A certificate of Limited Partnership for limited partnerships
• Business status listed as active, current or in very good standing on the Secretary of State's website for the state in which the business was incorporated.

Limited Liability Company (LLC)

• Articles of Incorporation stamped with proof of filing with the state (Operating Agreement is required if the Articles do not show the Members/Owners)
• Business status listed as active, current or in very good standing on the Secretary of State's website for the state in which the business was incorporated.

Unincorporated Association/Organization

• Business name filing document, such as a Fictitious Name Certificate or Certificate of Trade Name
• Organizing document, such as Articles of Association (if available) or bylaws
• Corporate Resolution identifying authorized signers if officer names are not listed on Articles of Association or bylaws

 Corporation

• Signed Corporate Resolution by all officers
• Business status listed as active, current or in very good standing on the Secretary of State's website for the state in which the business was incorporated. Check Status
• Articles of Incorporation stamped with proof of filing with the state (Operating Agreement is required if the Articles do not show the Members/Owners)

Non-profit Organization

• Articles of Incorporation stamped with proof of filing with the state (Operating Agreement is required if the Articles do not show the Members/Owners)
• Verification of Non-profit status/Tax-exempt status

Voluntary Associations- Club Accounts

• Organizing document, such as Articles of Association (if available) or bylaws
• Corporate resolution authorizing the account and assigning transaction authority (if available)

If you have any questions, please call 1-866-851-3000 or stop by any Security Federal Bank branch for more information.

¹Does not affect your credit score.