Business Checking

Every new business account includes:

  • FREE Online Banking with myBanking™
  • FREE Bill Pay
  • FREE Mobile Banking and FREE Mobile Check Deposit with myMobile™
  • FREE eStatements with online check image

Here to Help

Not sure which checking account is right for you? Get started here. 

0% Complete

Question #1

Will your business process more than 1,000 items each month?

Please visit with a Branch Manager for a personalized solution.

View our Branch Managers

Question #2

Will you always keep more than $5,000 in your business checking account?

Business Interest Checking

A business account designed for your growing business!

  • 1,000 FREE monthly transaction items
  • Competitive tiered interest rate
  • Only $5,000 minimum balance to avoid the low monthly fee of $10
Email our Member Service Center

Free Business Checking

A perfect account for most businesses!

  • 1,000 FREE monthly transaction items
  • No minimum balance
  • No monthly service charge
Email our Member Service Center

Account Options

Business Interest Checking

A business account designed for your growing business!

  • Unlimited transactions
  • Competitive tiered interest rate
  • Only $5,000 minimum balance to avoid the low monthly fee of $10

How to Open

Please call our Member Service Center at 800.498.8930 for more information or visit one of our six locations to open your account today.

Free Business Checking

A perfect account for most businesses!

  • 1,000 FREE monthly transactions
  • No minimum balance
  • No monthly service charge

How to Open

Please call our Member Service Center at 800.498.8930 for more information or visit one of our six locations to open your account today.

Still Undecided? Start Here.

0% Complete

Question #1

Will your business process more than 1,000 items each month?

Please visit with a Branch Manager for a personalized solution.

View our Branch Managers

Question #2

Will you always keep more than $5,000 in your business checking account?

Business Interest Checking

A business account designed for your growing business!

  • 1,000 FREE monthly transaction items
  • Competitive tiered interest rate
  • Only $5,000 minimum balance to avoid the low monthly fee of $10
Email our Member Service Center

Free Business Checking

A perfect account for most businesses!

  • 1,000 FREE monthly transaction items
  • No minimum balance
  • No monthly service charge
Email our Member Service Center

Question #1

Will your business process more than 1,000 items each month?

Please visit with a Branch Manager for a personalized solution.

View our Branch Managers

Question #2

Will you always keep more than $5,000 in your business checking account?

Business Interest Checking

A business account designed for your growing business!

  • 1,000 FREE monthly transaction items
  • Competitive tiered interest rate
  • Only $5,000 minimum balance to avoid the low monthly fee of $10
Email our Member Service Center

Free Business Checking

A perfect account for most businesses!

  • 1,000 FREE monthly transaction items
  • No minimum balance
  • No monthly service charge
Email our Member Service Center

Rates

Active as of 04.20.2021

Business Checking Accounts

ProductMinimum to OpenMinimum Daily
Balance to Earn APY
APY*
Business Interest Checking^$25.00$0.01.05%
$5,000.00.10%
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Helpful Resources

At People’s Credit Union, we are passionate about providing resources, information, and solutions to help you get ahead.

Frequently Asked Questions

What can we help you with today? 

To make the application process easier, we have created an online portal to accept applications and receive uploaded documents.

You can find the online portal at: https://forms.onlineaccountaccess.com/secure2/peoplescu/

The documents required to open a business account vary based on the type of business entity:

  • Limited Liability Corporation or LLC
    • Articles of Incorporation
    • Department of Revenue IRS Employer Identification Number (EIN) form
    • Driver’s License (Valid)
  • Sole Proprietorship
    • Department of Revenue IRS Employer Identification Number (EIN) form or your social security card if you would like the business to be under your social and not reported as a separate entity.
    • Driver’s License (Valid)
    • Trade Name Certificate – You can apply and get this form at the town hall where you reside/or business.
  • Corporation
    • Partnership Agreement for the name of the business and its partners
    • Article of Incorporation
    • Driver’s License (Valid)
    • Department of Revenue IRS Employer Identification Number (EIN) form
  • Company
    • Article of Incorporation
    • Driver’s License (Valid)
    • Department of Revenue IRS Employer Identification Number (EIN) form

  • A Limited Liability Company Or LLC is a legal entity formed at the state level. An LLC exists separately from its owners—known as members. However, members are not personally responsible for business debts and liabilities. Instead, the LLC is responsible.
  • A Sole Proprietorship is an unincorporated business owned and run by one person. This option is the simplest, no muss, no fuss structure out there. You are entitled to all the profits of the business. However, unlike an LLC, you are also responsible for all of the liability.
  • A Corporation is a company that is related to larger businesses and entities. There is no single owner, the shareholders are the owners.
  • A Company is a business related to a small business or entity. The owners of a company are its members.

A Trade Name Certificate is required for the purpose of identifying those individuals doing business in a required state. All businesses are required by Rhode Island State Law to register their trade name in the Town Clerk’s Office. Forms are available at the town hall during regular business hours.

No. A business can be a beneficiary of a trust, but not a trust itself because it is a separate entity.