Ready to Bring Your Business Account to TowneBank?
We're excited you want to know more about opening a TowneBank business account, apply for a loan, learn about our treasury services or to connect with one of our bankers to simply find out how we can help you. We invite you to complete our contact form below or find your nearest location and reach out by phone or stop by for a visit.
Contact Us to Meet with a Business Banker
Our local bankers are committed to helping you find the right financial solutions to help your business grow. Please complete the form below and a local banker will contact you to schedule your personalized meeting. We thank you for your interest and look forward to welcoming you to TowneBank.
Business Account Opening FAQs
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No, Beneficial Ownership is a requirement from FinCEN which is a bureau of the Department of Treasury. FinCEN's mission is to safeguard the financial system from illicit use and to combat money laundering and promote national security through the collection, analysis, and dissemination of financial intelligence.
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Depending on your business type you may need different types of identifying information. Additional documentation may be requested based on your company's organizational structure. Also, please have your company representative bring two (2) forms of identification (one with a photo). Accounts may only be opened by an authorized representative from your company, which includes company officers or the owner.
Acceptable Photo Identification for company representatives
- Unexpired driver's license
- Unexpired passport
- Unexpired military ID
- Unexpired state-issued ID card
- Social security card
- Voter registration card
- Health insurance card
- Birth certificate
- Employment ID card
- Pay stub
- Automobile registration card
- Unexpired work visa
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The documents that you may need differ based on the type of business you are. For your convenience, we've provided a list below.
Corporation
Business owners opening an account must provide the following:
- IRS Acknowledgement Letter for TIN
- Corporate bylaws
- For non-profits: IRS 501(c)(3) letter for non-profit organizations or tax exempt documentation
Business owners opening an account must provide the following:
- IRS Acknowledgement Letter for the TIN
- Operating Agreement
Business owners opening an account must provide the following:
- IRS Acknowledgement Letter for the TIN
- Partnership Agreement
- Fictitious Name Certificate / Certificate of Trade Name
- A Certificate of Limited Partnership (if necessary)
Business owners opening an account must provide the following:
- Social Security Card or the IRS Acknowledgement Letter for the TIN
- Business License (VA Only)
- Fictitious Name Certificate / Certificate of Assumed Name
Leaders opening an account must provide the following:
- IRS Acknowledgement Letter for the TIN
- Meeting minutes for the EIN / Statement of Organization form / Association Bylaws / Certification on letterhead signed by Secretary authorizing signatory for the Association
- For Non-Profits: IRS 501(c)(3) letter for non-profit organizations or tax exempt documentation
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Beneficial ownership information refers to identifying information about the individuals who directly or indirectly own or control a company. This is a federal law that all banks are required to follow.
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Company representatives should bring two forms of identification and at least one should feature a photo.
Acceptable Photo Identification for company representative
- Unexpired driver's license
- Unexpired passport
- Unexpired military ID
- Unexpired state issued ID card
- Social Security Card
- Voter Registration Card
- Health Insurance Card
- Birth Certificate
- Employment ID Card
- Pay Stub
- Automobile registration card
- Unexpired Work Visa