Business Checking | Mizrahi Tefahot Bank LTD

Business Checking Account

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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.


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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Q: Do I need an EIN to open a Business Checking Account?

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.

Q: What business banking accounts should I have in addition to a checking account?

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.

Q: Can I open a Business Checking Account online?

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

Q: Does a Business Checking Account include a debit card and online bill pay?

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.

Q: How does a tech startup open a Business Checking Account?

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.