Security Bank business bank accounts for march 2023

Security Bank Business Plus is a good business partner that will meet your banking needs, allowing you to concentrate on your business operations while Security Bank takes care of the rest. Some handy features will enable you to handle your account, transactions, government payments, and many other things more efficiently.

How to apply?

Security Bank business account opening is straightforward. To start the process, applicants must open an account online or at a local branch. The following documents are required when opening a business bank account with the bank:

• Employer Identification Number (EIN) (or a social security number for sole proprietors).

• Your business's documents.

• Business documents from SEC.

Requirements

• Articles of incorporation of the business.

• Certificate of registration with the Securities and Exchange Commission (SEC).

• The board resolution is fully notarized and incorporates the authority to open a bank account.

Pros and cons

Pros

• Interest rates are rather low.

• Security Bank business accounts allow more than one person to sign checks, make deposits, and process debit card transactions. This can alleviate some of the business owner's responsibilities.

Cons

• The user is required to maintain a certain amount of balance to use this service.

• The account comes with many additional charges.