Free Business Checking Account

Your business at its truest potential!

Running your business is priority number one— don’t let a clunky business account take your focus away from what matters most! We’ll send you real-time transaction alerts of suspected fraud and keep your banking experience FREE of unnecessary stress.

Business Checking Account Features

• NO monthly service fee
• Free Digital Banking and Bill Pay
• Access to 300+ surcharge-free ATMs
• Overdraft Services Available
• Plus, earn dividends on your account balance¹

How to Open a Business Account at ATFCU

Austin Telco Federal Credit Union is here to meet the financial needs of your business, as well as your business savings, lending and investment goals. In order to open a business account at ATFCU, your business must exist within our field of membership.

We collect information on businesses based on the type. For all businesses, we collect:

• Name
• Physical Address of business
• Businesses requiring an Employer Identification Number (EIN) must provide it before account opening (we will not open an account if the business is awaiting the issuance of its EIN). Sole proprietors may be eligible to use a Social Security Number where permitted.

Authorized signers are individuals authorized and designated by the business entity to conduct transactions on behalf of the business.

For authorized signers we collect:

• Valid Driver's License or Identification Card
• Name
• Date of Birth
• Social Security Number
• Address

Additionally, for one individual with significant responsibility for managing the legal entity and for any beneficial owner* of a Corporation, Limited Liability Company, or any other entity that is created by filing a public document with the Secretary of State or similar office, General Partnership, or any similar business entity formed in the U.S.

Beginning on January 1, 2024, many companies in the United States will have to report information about their beneficial owners, i.e., the individuals who ultimately own or control the company. They will have to report the information to the Financial Crimes Enforcement Network (FinCEN). FinCEN is a bureau of the U.S. Department of the Treasury.

For the most updated information, visit the FinCEN Website.

We collect:

In accordance with Federal Law, ATFCU will collect the following information in order to verify the identity of individuals opening accounts.

• Name
• Date of Birth
• Social Security Number
• Address
  and for Non-U.S. Persons the passport number and country of issuance.

*Beneficial owner is defined as any individual who directly or indirectly through any contract, arrangement, understanding, relationship, or otherwise, owns 25 percent or more of the equity interests of the legal entity.

Business Types and Documents Required

Sole Proprietorship

• Assumed Name Certificate/ DBA (Original or Certified Copy)

General Partnership

• Partnership Agreement (Original or Certified Copy)
• Assumed name certificate - if necessary (Original or Certified Copy)

Limited Partnership

• Limited Partnership Agreement (Original or Certified Copy)
• Assumed name certificate - if necessary (Original or Certified Copy)
• Verification through Texas Secretary of State

Limited Liability Partnership (LLP)

• Limited Liability Partnership Agreement (Original or Certified Copy)
• Assumed name certificate - if necessary (Original or Certified Copy)
• Verification through Texas Secretary of State

Corporation

• Articles of Incorporation (Original or Certified Copy)
• Certificate of Organization (Original or Certified Copy)
• Assumed name certificate - if necessary (Original or Certified Copy)
• Verification through Texas Secretary of State

Limited Liability Company

• Articles of Organization (Original or Certified Copy)
• Certificate of Organization (Original or Certified Copy)
• Assumed name certificate - if necessary (Original or Certified Copy)
• Verification through Texas Secretary of State

Non-Profit Associations & Not-For-Profit Entities

• Articles of Incorporation - if necessary (Original or Certified Copy)
• Charter, Bylaws, Letter of Authorization, Minutes of Meeting (unincorporated only)
• Assumed name certificate - if necessary (Original or Certified Copy)
• If corporation - verification through Texas Secretary of State