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Business Savings Account from U.S. Bank

Basic Business Savings

A safe place to keep extra funds.

It makes good business sense to segregate your extra business funds until you need them. Whether you own a small business or help manage a nonprofit organization, government or public agency, you'll earn interest and gain peace of mind by keeping excess operating cash in our FDIC-insured Basic Business Savings account.

Start Saving with a Basic Business Savings Account

This low-fee, high-confidence savings option is a great place to let your money grow. And with 24-hour ATM and online access to your funds, you’ll never be without access.

  • Earn interest on your balances
  • Avoid a monthly maintenance fee with a minimum average collected balance
  • Transfer funds to your U.S. Bank checking account by phone or with our overdraft protection service
  • View your business checking and savings accounts on a combined monthly statement

How to Open a Basic Business Savings Account

To open a U.S. Bank business account today, bring the documents listed below to any U.S. Bank branch office. Find a Branch Near You

Employer Identification Number (EIN) or tax ID number
 

Your business’s Employer Identification Number (EIN) or tax ID number (sole proprietors can use the owner’s Social Security number).

Document showing when organization was formed
 

Articles of Incorporation, Articles of Organization, or a charter or a similar legal document that indicates when your company was formed (not required for sole proprietors).

Government-issued photo ID
 

A government-issued photo ID and Social Security number for you and anyone else authorized to sign checks or make transactions on behalf of your organization.

We also need 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

Federal Regulations Governing Savings and Money Market Transaction Limitations
Federal Regulation D limits certain types of withdrawals and transfers made from a savings or money market account to a combined total of six per account cycle. This includes withdrawals made by check or draft to third parties; debit or ATM card point-of-sale (POS) purchases; and pre-authorized withdrawals such as automatic transfers for overdraft protection and transfers made by telephone, online banking, mobile banking, bill pay, wire and facsimile. Withdrawals and/or transfers exceeding the 6 per account cycle allowance, will result in a $15 excessive withdrawal fee per transaction. If limitations are continuously exceeded, it may result in conversion to a checking account. Withdrawals and transfers made in person at a U.S. Bank branch or at an ATM are not included in the limit of six per account cycle.

Unlike checking accounts, checks written on money market accounts are not returned with your statement. For additional disclosures on rates, fees, compounding and crediting, and other balance information, call 800-673-3555 or visit your local branch. Certificates of deposit offered by U.S. Bank National Association. FDIC insured up to the maximum allowed by law. Penalty may be imposed for early withdrawal.

Additional Savings and Money Market Disclosures
The average collected balance is calculated by adding the principal in the account for each day of the period and dividing that figure by the number of days in the period. Unlike checking accounts, checks written on money market accounts are not returned with your statement. For additional disclosures on rates, fees, compounding and crediting, and other balance information, call 800-673-3555 or visit your local branch.

Deposit Products offered by U.S. Bank National Association. Member FDIC.

Get Started

Call Us
800-673-3555

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