Opening Bank Guidelines - Wells Fargo

  1. Print out EIN & Articles of Incorporation for each of business & take to the bank appointment.
  2. Type of Accounts- Opening two Navigate Business Checking Accounts. Need to set up Premium Wire Feature & order an RSA device for the accounts.  Have the RSA device mailed to my home address.  Opening two accounts because I’m selling two products (Summary sheets lists products being sold)
  3. Type of Corps- C-Corps & I am 100% sole owner.
  4. The Type of Business- Health & Personal Wellness Online Retail- NCAIS Code- 454110 (Shopify)
  5. Primary Address & Mailing address on Business Bank Accounts- The primary address & mailing address on both of the business bank accounts is my Home Address. P.O. box address is for my e-commerce business only. My home address is my office address. CHOOSE PAPERLESS STATEMENTS.
  6. Sheet of Complimentary/Starter Checks – I will need a sheet of complimentary checks (may have to go back to the bank next day to pick up) Ask for a sheet of complimentary checks for each account, ask if they can print day of appointment.
  7. Boxes of Checks- Order a box of checks for each account (small box/ least expensive) MAIL CHECKS TO MY HOME ADDRESS. The box of checks for each account need to have full business name & the UPS physical address/Virtual mailbox that matches my Corporation Documents for each corporation (EIN & Articles of Incorporation.)

    *Double check that the address that is put on the box of checks ordered for each account MATCHES EXACTLY WHAT IS ON MY EIN & ARTICLES OF INCORPORATION- Important for Merchant Processing applications that checks have full business name & full business address.*

  8. Debit Cards- Get a debit card for both accounts. Have them mailed to my home address.  Write down the pin number so I don’t forget it.  Use the same pin for both cards.
  9.  RSA Device- Set up Premium Wire Features for both accounts. Order RSA (one device for both accounts) and have mailed to home address.
  10. Direct Pay & Wire Features- Set up Direct Pay (for payment only, not collections) & wire capabilities on both accounts. I will send Direct Pay Payments over 5K and possibly over 25K in one payment to vendors.
  11. Online Banking- Set up online banking for both accounts. Ask banker to link the two accounts with the same user name & password for both accounts & make sure the ACCOUNTS ARE LINKED. If banker can’t link accounts with same UN/PW create separate UN/PW for each account. Use my business email & phone as primary contact for both accounts (see summary sheets) DO NOT USE MY PERSONAL EMAIL & PHONE NUMBER FOR THE PRIMARY CONTACT EMAIL & PHONE.
  12. Be sure the banker provides me copies of all paperwork.
  13. Funding the Accounts- Will fully fund after I speak with my accountant- Depositing $50 into each account day of bank appointment to cover cost of checks
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