BUSINESS ACCOUNTS
FIRST FEDERAL SAVINGS offers business accounts that meet our corporate client’s needs. In addition to a checkbook, the account allows fully customizable levels of wire transfer authorizations for the different kinds of users guaranteeing an extra layer of transactional security.
To maintain this account, we may require a minimum account balance. The balance required varies on a case-by-case basis.
Benefits
Balance:No minimum balance penalties
Schedule: Set up recurring payments to providers, payroll, and more. May be international or domestic
Transact: via checks, E-checks, and wire transfers
Tailor-made customer service: We offer a personalized service for quick, direct, personalized solutions to any concerns you might have
Requirements
- Fill and sign FIRST FEDERAL SAVINGS products and service request form (provided by your Business Development Facilitator)
- Color copy of two (2) valid identification documents (including passport and, if applicable, US visa), and a photo of the legal representative of the company and of the account signatories.
- Resolution of the Board of Directors authorizing the opening of an account (provided by your Business Facilitator).
- Copy of the constitutive document, articles of incorporation of the company and/or document in which the shareholder(s) ownership of the company signatory is verified.
- A bank or commercial reference. In case of being a new company, a bank or commercial reference of the main shareholder will be requested.
- Copy of the last income tax return or annual report, or financial statements signed by a certified public accountant in the jurisdiction where the company was registered or in the jurisdiction where it operates.
- If the signer already has a FIRST FEDERAL SAVINGS account, their references will not be required.
- Remember, if the company is new, any shareholder who signs on the account that owns more than 20% of the company will need to submit these requirements. If the shareholder does not sign, then only the two color-scanned IDs will be requested.