Business Checking | Mizrahi Tefahot Bank LTD

A Business Checking Account is the workhorse of your financial management, providing essential features for daily business operations from managing cash flow and tracking expenses to accepting payments and simplifying tax reporting.

Details

Our Business Checking Accounts offer:

Access to online banking and mobile banking apps
Electronic payment options
Convenient check-writing capabilities and debit cards
Detailed monthly statements with transaction information
Overdraft protection to prevent bounced checks and insufficient funds

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Frequently Asked Questions

Yes, to open a bank account for your business, you’ll need the Employer Identification Number (EIN) of your business. Additionally, be prepared to provide business formation documents, ownership agreements (for partnerships and corporations), business license(s), and your state-issued personal identification.

Every company will have different financial management needs. However, for any business, it’s important to have cash reserves set aside in a separate, interest-bearing account like a savings account or money market account, to be used for large expenses or during cyclical periods of low income. You may also choose to utilize a sweep account to automatically direct cash overflow to your savings account.

Business checking accounts can be opened in person, at our branch. Call us to make an appointment today.

Yes, your Business Checking Account grants you access to all our commercial banking account benefits. You will receive a debit card associated with your business checking account to use for both in-person card payments and online payments, and can also use our online banking portal to complete a one-time payment or set up recurring payments for vendors, utilities, and other expenses.

Before opening a business bank account, your startup will need to register its business name and obtain an EIN (tax ID number). To get your EIN, you can apply through the IRS website or work with your accountant to file the necessary paperwork. Once you have your EIN, you can open a checking account, using startup funds to make an initial deposit.