Your new business account can be very valuable in the success of your business. The account can greatly assist in the bookkeeping needed to run any business. We have developed the following suggestions and guidelines to help you get the most from your account.
Each check presented for deposit should be properly endorsed. The endorsement should be placed on the reverse side of the check on the end nearest "PAY TO THE ORDER OF". The task of endorsing checks can be eased with the use of an endorsement stamp, customer service representatives can assist you in ordering this type of stamp.
Checks presented to you for payment should be made payable to the name of your business. Please clearly communicate this to your customers.
Your checking account is a valuable asset of your business and the bank can assist with its protection. If there are any changes regarding account holders or authorized signers, it is vital that you contact us immediately and provide documentation of the change. We need written authority as to who can sign checks and obtain information regarding your account.
You must deposit all receipts. If you are in need of cash simply write a check from your account directly to cash. Do not net the cash out of a deposit being made. Handling a cash requirement correctly will greatly improve your bookkeeping, ease the tasks of developing financial data and statements, revenue and expense reports, and income tax information. It will also help us better protect your business account.
When preparing your deposits please provide as much detail as practical. The information included will assist us if an error is discovered and help you in maintaining accurate records. Neatly bundle any cash being deposited along with your checks. You may want to include an adding machine tape with the deposit for more accurate and efficient service when presenting your deposit.
The bank offers a night deposit box at both Mayville and Millington branch locations.
You should carefully review all checks made payable to your business. Verify amount (including written amount), date, and signature of all checks presented to your business.
Reconcile (balance) your monthly checking statement as soon as possible after it is received. If you discover any errors, contact us immediately.
FACTS ABOUT YOUR BASIC BUSINESS CHECKING ACCOUNT
You will receive a monthly statement detailing the activity on your account each month. Canceled checks may be returned with your statement for an additional fee.
If a deposit you make includes a check that is returned for insufficient funds, the check will normally be charged back to your account and returned to you by first class mail .
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