Business Accounts - Checking & Savings Accounts | RBFCU
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Get
Business Accounts
Start your business on the path to savings and success
An RBFCU business account gives you access to the variety of business and
merchant services
RBFCU provides,
including
business loans
business checking
and more.
How to apply for a business account
Click the button below to
open a business account online
. If you’d prefer to open an account in person, please
schedule an appointment
to open your business account at one of
our branches
, and a representative will walk you through the process.
If you have any questions, please call Remote Member Assistance at
210-967-2436
What you’ll need to open your business account
Membership Qualifications
All owners/managers of a business must qualify for
RBFCU membership
Corporation (for profit or nonprofit)
All legal directors/stockholders must qualify for membership or the entity must qualify on its own standing as an association of persons
as a select group defined within our membership charter.
Organization (Unincorporated Association or Club)
All signers on the account must establish RBFCU membership for the organization to be established.
Designation of Beneficial Ownership
The following information is required for individuals owning 25% or more of entities being established or updated.
Name
Date of birth
Residential address
Social Security number or tax identification number
Valid government issued ID (e.g., driver’s license, U.S. military ID, passport)
Additionally, one individual (control person) must be designated with significant responsibility to manage the legal entity being established or updated such as:
an executive officer or senior manager (e.g., chief executive officer, chief financial officer, chief operating officer, managing member, general partner, president, vice president, treasurer); or any other individual who regularly performs similar
functions.
RBFCU will provide the following internal forms for applicable entity types:
Non-Personal Account Application to be completed and signed by all authorized signers
Business Depository Resolution to be signed by all designated business owners
Certification of Beneficial Ownership to be signed by the designated control person for the entity
Sole Proprietorship
All authorized signers must have an
RBFCU primary savings account
Assumed Name Certificate (DBA) must be filed with the Texas County Clerk office in the county where the business is being conducted
Social Security number or Employer Identification Number (EIN) documentation of sole proprietorship on IRS letterhead (if applicable)
Valid government-issued ID for all account signers (e.g., driver’s license, U.S. military ID, passport)
General Partnership
All authorized signers must have an
RBFCU primary savings account
Assumed Name Certificate (DBA) must be filed with the Texas County Clerk office in the county where the business is being conducted
Employer Identification Number (EIN) documentation of partnership on IRS letterhead
Valid government-issued ID for all partners and account signers (e.g., driver’s license, U.S. military ID, passport)
Limited Partnership (LP)
All authorized signers must have an
RBFCU primary savings account
Certification of Limited Partnership listing management must be filed with the Texas Secretary of State
Assumed Name Certificate (DBA) must be filed with the Texas Secretary of State (if applicable)
Employer Identification Number (EIN) documentation of partnership on IRS letterhead
Valid government-issued ID for all partners and account signers (e.g., driver’s license, U.S. military ID, passport)
Limited Liability Partnership (LLP)
All authorized signers must have an
RBFCU primary savings account
Certification of Limited Partnership listing management must be filed with Texas Secretary of State
Assumed Name Certificate (DBA) must be filed with the Texas Secretary of State (if applicable)
Employer Identification Number (EIN) documentation of partnership on IRS letterhead
Valid government-issued ID for all partners and account signers (e.g., driver’s license, U.S. military ID, passport)
Corporation (for-profit or nonprofit)
All authorized signers must have a
primary savings account
Articles of Incorporation listing director(s) must be filed with the Texas Secretary of State
Assumed Name Certificate (DBA) must be filed with the Texas Secretary of State (if applicable)
Employer Identification Number (EIN) documentation on IRS letterhead
Valid government-issued ID for all account signers (e.g., driver’s license, U.S. military ID, passport)
Meeting minutes informing RBFCU of all account signatories with authority to operate the business account(s) and must be signed by a current Director preferably with the title of President, Secretary or Treasurer. (Note: Meeting minutes are not required if all directors are present at the account opening.)
Limited Liability Company (LLC)
All authorized signers must have an
RBFCU primary savings account
Certificate of Formation listing management must be filed with the Texas Secretary of State
Assumed Name Certificate (DBA) must be filed with the Texas Secretary of State (if applicable)
Employer Identification Number (EIN) documentation of business on IRS letterhead
Valid government-issued ID for all owners and account signers (e.g., driver’s license, U.S. military ID, passport)
Organization (Unincorporated Association or Club) Accounts
All authorized signers must have a
primary savings account
Employer Identification Number (EIN) documentation on IRS letterhead
Valid government-issued ID for all account signers (e.g., driver’s license, U.S. military ID, passport)
Unincorporated Association or Club Account Certification and Authorization will designate authority of account signers and must be signed by all authorized signers
Campaign Accounts
Candidate and Treasurer must qualify for
RBFCU membership
and open a
primary savings account
Employer Identification Number (EIN) documentation on IRS letterhead
Valid government-issued ID for all account signers (e.g., driver’s license, U.S. military ID, passport)
Non-Personal Account Application must be completed and signed by all authorized signers
CTA Form (Appointment of a Campaign Treasurer by a Candidate) filed in the appropriate jurisdiction
*For other entity types, including but not limited to franchise and satellite church, please contact Remote Member Assistance at
210-637-3000
All business savings accounts include the following benefits and features:
Access to a variety of additional products and services
$0 monthly service charge
$0 minimum balance requirement
Begin earning the stated Annual Percentage Yield (APY) with an account balance greater than $0
Free electronic services such as business account delegates and remote deposits
Access to a full suite of business products and services with low to no-cost
Affordable wire services with $0 fee for incoming wires
Business FAQs
How do I open a business account?
To open a business account online:
Click here to initiate your business account request
or call
210-967-2436
for assistance starting an online application.
To open a business account in person:
Click here for an appointment
at any
branch
or call
210-637-3000
for assistance scheduling an in-person appointment.
Can I open a business account online?
Yes.
Click here to initiate your business account request
. If you need assistance or have questions about the process, please call our Online Support team at
210-967-2436
I have a business loan with RBFCU. Do I qualify for a discount on my business checking?
Monthly account maintenance fees will be waived for businesses that have a business loan balance over $50,000, or have one or more of the following products:
ACH
origination agreement with RBFCU
Merchant
or
payroll processing
through
RBFCU’s provider
Active
check deposit scanner
service
What qualifies as an item for a monthly transaction on my business checking account?
An “Item” is defined as any debit or credit to your business account, except for RBFCU fees.
I know I'm going to have more transactions than usual on my business checking account this month. Can I switch my account type?
We recommend that you find one business checking account that best suits your needs and use that account type as your default. However, if you determine a long-term business need to change account types, you may contact our Business Solutions Team at
210-945-3800
and they will assist you with making necessary updates to your account.
How do I update or add additional accounts to an existing business account?
You may
make an appointment
at any
branch
or call
210-637-3000
Business Calculators
Should I own or lease my business location?
Should I buy or lease equipment for my business?
Should I take advantage of trade discounts?
What is my business worth today?
Commercial Insurance
Business Services
Business Credit Card
Business Loans
To open a business account, RBFCU personal accounts of all principal owners must be in good standing. Programs and fees subject to change. Certain information regarding the nature and transaction types of your business will be gathered at the time of
account opening. Check cashing is not available on business accounts, however, you may deposit and withdraw the funds. We do not offer Money Service Businesses (MSB) accounts. The Department of the Treasury and FinCEN defines a Money Services Business
(MSB) as a business that conducts more than $1,000 in business with one person in one or more transactions on the same day in one or more of the following services: Money Orders, Traveler’s Checks, Money Transmission, Check Cashing, Currency
Exchange, Currency Dealing and Stored Value. For complete details, call Remote Member Assistance at
210-967-2436