US Bank has a Business Savings Accounts feature for Small Businesses. It’s under the category of Small Business but it sees kind of businesses. It’s for small businesses as well to the grand enterprises business option. People can get huge highly interest rates with the Saving Accounts as balance increases. It automatically increases the bonuses as well main balance while opening the Platinum Business Package.
Let’s get it shortly about Money Markets
Business Money Market Accounts
It’s an account of savings with flexibility of your business. It is the saving account of your extra operation money can be taken while needing it immediately. This business money market account gives you an access to your funds whenever you pay to competitive interest rates.
There are three money market options for small businesses
Where it increases the interest rates highly while your balance increases. There are no monthly maintenance fees as well in the low cost of minimum balance of $5000. You can earn extra bonus interest rate while opening of a Platinum Business Account (Package).
It can get competitive interest rates and ready access to money with no monthly maintenance fees.
Where can use the balances to offset service charges. As linked to a premium business checking account.
These of three money market accounts get in with.
*Are FDIC insured
*Can be linked to your U.S. Bank business checking account for overdraft protection
*Allow up to six (6) withdrawals per month
*Accrue interest daily and pay interest monthly
How to Open a Business Money Market Account
Well how to get an account on a Business Money Market Account? There needs some documents to open an account on US Bank Money Market Account.
1) It needs to get your business’s Employer Identification Number (EIN) or tax ID number. Which is a likely Sole proprietor can use owner’s Social Security number.
2) The articles of Incorporation. Like a authorized letter from organization, charter or a similar legal document which shows when your company was formed. It’s not needed for sole proprietors.
3) The next attachment is a government issued photo ID and social security number to you and anyone else authorized to sign checks or transactions on behalf of your organization.
Including these attachments, US Bank also needs some of following legal documentation specific to the legal structure of your business.
Sole Proprietorship – Assumed Name Certificate (Doing Business As)
Partnerships (all types) – A partnership agreement listing the name of the partnership and the general partners
Limited Liability Corporation (LLC) – Articles of Organization listing the names of members and managers
Corporation – Articles of Incorporation
Nonprofit Organization – A charter or other governing documents listing each member-elected officer
Well after all, find a branch near of you and apply to a Business Money Market Account.