What are the requirements for opening a business account?

To open a business account at Bank of Elk River, there are a few requirements that need to be met. Firstly, you must provide a valid identification document, such as a driver's license or passport, for all account signers and beneficial owners. Additionally, you will need to present your Employer Identification Number (EIN) or Social Security Number (SSN) for the business. The bank may also require documentation supporting the legality and existence of the business, such as articles of incorporation, partnership agreements, or a business license. It is recommended to bring these documents when visiting the bank to simplify the account opening process. If you have any specific questions or need assistance with opening a business account, please don't hesitate to contact our knowledgeable customer service team.