Business Checking
- Fee Free if the average daily balance is more than $250.00*
- 250 monthly transactions fee-free**
- Dividends compounded daily paid quarterly
- Free VISA Debit Card
- User-friendly Online Banking and Mobile Banking app
| Checking | 0.05% APR* |
0.05% APY** |
The tools you need. The extras you want.
Our Business Checking Accounts help you to manage cash flow better, conveniently handle payments and minimize fees.
ACH Originations & Wire Transfers
Whether you need to disburse payments or pull receivables into your account, this service will work for you!
Overdraft Protection
You can link multiple eligible accounts to your checking account. If you don't have enough money in your checking account, we will use available funds in those linked account(s) to cover your transactions.***
Mobile Deposit
The ultimate convenience for the business owner. Mobile Deposits enable you to deposit checks into your business checking via our mobile app.
E-Statements
Eliminate waiting and waste. There is no more waiting to receive account information in the mail and wasting precious resources. On the first of each month, you'll receive an email from Members Choice informing you that your monthly statement is available to view. Plus, you can view up to 12 months of statements.
How to Open Your Members Choice Business Checking Account
Take care of business your way, every day! Apply in person at any location or call (606) 329-7876 to set up an appointment.
WHAT YOU WILL NEED TO COMPLETE THE APPLICATION
1 Gather personal info, including government-issued ID and Social Security number, for every signer on the account
2 Provide the required documents needed for your type of business
3 Complete membership application in person at any Members Choice location
4 Once your application is approved, fund your account by setting up online transfers via Members Choice Mobile or Online Banking
New Business Account Documentation Requirements
Business must be organized and in the state of Kentucky. Picture ID of all authorized signers required.
-
Sole Proprietorship
(Provide one or more of the following documents)
- State of Kentucky Certificate
- Business License
- Vendors or Contractor’s License
- Business Tax Certificate
- City Tax Certificate
- Documentation of the Kentucky Sales Tax Number for the Business
-
Not-for-Profit/Association/Church
(Provide all the following documents)
- Bylaws, Charter, Constitutions or similar documents outlining the purpose of the organization
- Resolution from Board specifying which officers are authorized to sign for the organization/association
- TIN/EIN issued by IRS
-
LLC
(Provide all the following documents)
- Articles of Organization
- Operating Agreement
- TIN/EIN issued by IRS
-
Corporation
(Provide all the following documents)
- Articles of Incorporation
- Resolution from Board specifying which officers are authorized to sign for the corporation
- TIN/EIN issued by IRS
-
Partnership
(Provide all the following documents)
- Assumed Name Certificate issued by the Kentucky Secretary of State
- Written Partnership Agreement
- TIN/EIN issued by IRS
*Disclosure: $25 monthly fee for a business checking account if the average daily balance is less than $250.00.
**Monthly transactions include checks paid, withdrawals, deposits, items deposited, ACH credits, and debits received. A fee of $0.25 per transaction over the monthly limit.
***Opt-in to our Sweep protection, and we'll automatically transfer money from your Members Choice savings account so you can avoid an accidental overdraft for a fee of $1 per sweep. See our fee schedule.
Building Blocks for Your Business
A critical step for many businesses is a business checking and savings account. Think of these accounts as essential tools to help your small business grow and thrive.
Business Perks for Your Employees
Coach: Basic Bookkeeping
*Rates are determined based on applicable credit review. Rates, fees, and terms are subject to change. Members Choice reserves the right to change account terms (including APRs) in accordance with your Business Card Agreement.