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Business Deposit FAQs

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Business checking

How can I open a Bank of America business checking account?

You have the choice of opening a business checking account at any of our banking centers, by phone or online business checking accounts from Bank of America.

What do I need to open a new business checking account?

Eligibility requirements and the required documentation to open a business checking account vary by ownership type and the state in which the account is opened. For more information, visit our small business FAQs page, call us at 888.BUSINESS (888.287.4637) Mon.-Fri. 7 a.m.-10 p.m. or Sat. 7 a.m.-7 p.m. (all times ET) or visit a financial center.

Where can I open a Bank of America business checking account in the U.S.?

You can open a Bank of America business account for businesses that are located in any state where we have banking centers. Find a financial center.

How can I open a U.S. checking account if my business is located outside the U.S.?

We’re only able to open business accounts for businesses located in the states where we have banking centers and for businesses that have a relationship with our Corporate International offices. Please contact your local Bank of America banking center for more information.

Savings

How can I open a Bank of America business savings account?

You have the choice of opening a business savings account at any of our banking centers, by phone or online.

What do I need to open a new business savings account?

Eligibility requirements and the required documentation to open a business savings account vary by ownership type and the state the account is opened. Get specific information either at a banking center, by phone or through the online application process.

CDs

Do you automatically renew CDs at the time of maturity?

Yes. Bank of America will automatically renew the account by reinvesting funds on the maturity date, which is the first day after the term ends. We reinvest both principal and interest. You can elect to receive the interest earned on the account, a portion of the account or the entire amount of the account. The term for the automatically reinvested deposit is the same length as the previous term of the account.