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Business Banking | Frequently Asked Questions
Q. What paperwork do I need to open a Business Account at BankSouth?
A. To begin the process, each business must complete the New Business Account Application/Information Form. Please contact us for a copy of the form to complete this prior to your visit to BankSouth or you may complete this paperwork at the bank. Bring applicable documents depending on the type of business you operate. This could include, but is not limited to:
a. Driver’s License for each Signer
b. Tax ID Number
c. Articles of Incorporation
e. Business License
f. Incorporation Status with Secretary of State
Q. Can I get a Debit Card for my Business Account?
A. Absolutely. A Business Debit Card is a great way to manage expenses for your business.
Q. Is Online Banking available for my Business Account?
A. Yes, there are two options available for businesses depending on your needs. Business Online Banking is a great solution, if you will be:
- Creating Direct Deposit Files (Payroll)
- Debiting Customer Accounts Electronically Monthly (Homeowner’s Dues, Gym Dues, Day Care Expenses, Lawn Maintenance, etc.)
- Initiating Wires
- Paying Federal Taxes
For businesses that need access for more than one employee to the Online Business Banking program, this is a perfect solution to ensure dual control or to segment duties among staff members. Business Online Banking also allows multiple tax ID numbers to be included under a single company log-in.
Our Personal Online Banking solution is a suitable option for businesses that:
- Need to check account balances and account activity
- Transfer money between accounts
If you are unsure which option would work best for you, let us help. Contact your local branch to speak with a Personal Banker or a Business Development Manager about which service will best serve your needs.
Q. How do I sign up for Remote Deposit Capture?
A. Please contact your local branch to discuss whether or not Business Remote Deposit makes sense for you. For example, the volume of checks you receive is a factor in whether or not Remote Deposit will be the right fit for your business. Underwriting and approval are required for this service.
Q. I need help with my Business Remote Deposit Scanner or Software, who should I call?
A. Contact your Business Development Officer or the Bank directly to receive customer support of Remote Deposit Capture. Please remember, Remote Deposit Capture will not be processed on Federal Holidays or Weekends. The cut-off time for Remote Deposits is 4:00 pm ET. All deposits received after cut-off will be processed the next business day.
Q. Does BankSouth offer Business Credit Cards?
A. Yes. Learn more about our credit cards by visiting the Business Credit Card Page.
Q. Does BankSouth offer Credit Card Processing for my business?
A. We work with a partner to provide Merchant Services or Credit Card processing for our customers. They have extremely competitive pricing and can offer solutions for web stores, accepting payments via smart phone or a traditional swipe machine. Contact us and we can help you start the process of establishing new service or price checking your existing service.
Q. How can I send or receive a wire transfer for my business?
A. Incoming and outgoing wire transfers can be generated at any local branch for a small fee. The following information will be required in order to set up a wire transfer:
- Account Number
- Name as it appears on the account
- To Receive Domestic Wires: Please use Routing Number 061112364 for BankSouth
- To Send Domestic Wires: Provide the wiring instructions for the financial institution. This may include the Bank Routing Number where you wish to wire the funds along with the account number for the receiving party or the information for a corresponding bank.
*For International Wire Transfers, please contact your local branch for details.