Frequently Asked Questions

At Chelsea Groton, we take the time to understand your business’ needs and goals. Our experienced, service-focused lenders are here to help you select the right lending program designed to support business growth. To find the right loan program for your business, visit us online, call to speak with a member of our lending team, or email us to schedule an appointment at any of our locations or at your place of business.

No matter what growth stage your business is in, Chelsea Groton offers options that will grow with you. To find the right solution for your business, contact the Cash Management Sales team at 860-448-4295 or growthatbusiness@chelseagroton.com to schedule an appointment at any of our locations or at your place of business.

Whether you’re looking for ways to better manage cash flow, expand payment solutions or bank from your office, Chelsea Groton offers a full range of convenient cash management services to help manage business finances remotely, without the need to visit a local branch.

To learn more, contact the Cash Management Sales team at 860-448-4295 or growthatbusiness@chelseagroton.com to schedule an appointment at any of our locations or at your place of business.

All banks are required to obtain information verifying the business and the individuals associated with the business when opening a business account. We will also need the business EIN numbers. Additional documentation required will be determined by your business type. View the requirements for Small Business types here and Commercial business types here. 

On May 11, 2018, the rule issued by the U.S. government requiring financial institutions, including all banks and credit unions, to collect specific information to identify and verify the identity of beneficial owners of legal entity customers, subject to certain exclusions and exemptions, went into effect. These new rules are designed to aid the government in the fight against financial crimes, terrorist financing and other national security threats. In compliance with this new regulation, Chelsea Groton Bank collects beneficial ownership information from legal entity customers. This means that any time an account is opened or maintained for a legal entity, we will request information that identifies the ultimate beneficial owner(s) and controlling person of the legal entity.

• Who is a beneficial owner? A beneficial owner is defined under the Rules as: 
  • each individual, if any, who, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise, owns 25% or more of the equity interests of a legal entity customer; and
  • a single individual with significant responsibility to control, manage, or direct a legal entity customer, including an executive officer or senior manager (e.g., a Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, Managing Member, General Partner, President, Vice President, or Treasurer); or any other individual who regularly performs similar functions. This list of positions is illustrative, not exclusive, as there is significant diversity in how legal entities are structured.
• What beneficial ownership information must be collected about beneficial ownership from the legal entity customer? Information such as name, date of birth, address, and social security number or other government identification number (passport number or other similar information in the case of foreign persons) and identification documentation for all beneficial owners at the time a new account (i.e., loan, deposit account, safe deposit box) is opened and/or maintained (change in ownership, change in account signers, death of an owner/principal, change in legal entity type, etc.).
• Who does the Rule apply to? Any corporation, limited liability company, or other entity created by the filing of a public document with a Secretary of State or similar office, a general partnership, and any similar entity formed under the laws of a foreign jurisdiction that opens an account. The definition also includes limited partnerships, business trusts that are created by a filing with a state office, and any other entity created in this manner.
• Are any legal entities exempt from the Rule? A legal entity customer does not include sole proprietorships, unincorporated associations such as scout troops or youth sport leagues, estates, U.S. and state government entities, municipalities, publicly traded companies and their majority-owned domestic subsidiaries and certain trusts.

eAlerts are a useful tool to help you monitor your account in real-time. With the rampant rate of check and ACH fraud, it’s critical to review your account activity daily and report any unauthorized or suspicious transactions to Chelsea Groton immediately.

To enroll:

• Once you log into online banking, navigate to the top right-hand corner where you see your name.
• Click on the dropdown and then click on Banking Services.
• Scroll down and select Alerts.
• Next, click on Add Notification Subscription.
• From here you will be able to choose from a wide range of alerts to help you proactively stay on top of your account activity.

Yes, there are many ways to customize your business online banking experience. By using online ‘entitlements,’ our business customers are able to grant online banking access to trusted members of their business, and have the ability to limit that access to the activities and transactions that they permit. By giving each individual a unique user ID and password, you keep your account safer by not sharing passwords, while enhancing the monitoring of financial activity.

• To establish other users, once you log into online banking, navigate to the top right-hand corner where you see your name.
• Click on the dropdown and then click on Banking Services.
• Select Manage Users.
• Next, click on Add User. You will be able to provide a user ID and password to your employee.

Our mobile banking app makes it easier than ever to bank on-the-go. 

• First, download Chelsea Groton’s mobile app in the App Store (iPhone) or the Google Play (for Android).
• Next, log in using your online banking credentials.
• To make a mobile deposit, click on the three bars at the top right-hand corner of the app, and click on Deposit a Check. Follow the prompts on the screen.
• Please note, you will need to endorse the back of the check with “For Mobile Deposit Only at CGB” in order for the deposit to be accepted. You may deposit up to $5,000 in checks each day, or up to $25,000 or up to 15 check items per month. For higher limits, please contact the Cash Management Sales team at 860-448-4295 or growthatbusiness@chelseagroton.com.

• Log in to online banking.
• Click on the “Banking Service Center” tab.
• Under “Account Services”, click on “Stop Payment on a Check”.
• Select the account the check was written from.
• Enter the check number, amount, payee and reason for the stop payment.
• Click “Submit”.

• Log into online banking.
• Navigate to the top right-hand corner where you see your name.
• Click on the dropdown and then click on Banking Services.
• Scroll down and select eStatements.
• After accepting the Terms and Conditions, you will be able to enroll in eStatements.

• Chelsea Groton’s online banking allows you to streamline your accounting by importing transition activity directly to your QuickBooks or Quicken accounting software.
• Direct Connect allows you to create a direct feed of banking activity into your QuickBooks or Quicken accounting software.
• Web Connect enables you to download transactions from your account history into a compatible file that can be directly imported into your QuickBooks or Quicken software.
• To connect:
  • Log into online banking.
  • Navigate to the top right-hand corner where you see your name.
  • Click on the dropdown and then click on Banking Services.
  • Scroll down and select Quicken/QuickBooks.

You will need to provide Chelsea Groton’s ABA/Routing number which is 211173357, as well as your business name, business address and your account number at Chelsea Groton.

Our Incoming Domestic Wires are received by Chelsea Groton Bank.

Receiving Bank: Chelsea Groton Bank, Groton, CT

Bank Routing/ABA: 211173357

Beneficiary Name/Address: Customer Name/Address

Account#: Customer Account Number

Receiving Bank:
US Correspondent Name: Atlantic Community Bankers Bank, Glastonbury, CT 06033

US Correspondent Swift: NORHUS33

Bank Routing/ABA: 011110617

Beneficiary Bank: Chelsea Groton Bank, 904 Poquonnock Road, Groton, CT 06340

Beneficiary Bank Account: 1010

Beneficiary Name/Address: Customer Name/Address

Beneficiary Account: Customer Account Number

If you need to send a wire out from your Chelsea Groton Bank account, you must provide us with the receiving bank name, routing/ABA number, address, beneficiary name and their account number. You’ll have to obtain this information from the beneficiary bank or account holder. Please note that outgoing wire requests are accepted in person at any of our branches. We do not accept wire requests by phone, email or fax.

Never trust wiring instructions sent via email. Cyber criminals are hacking email accounts and sending emails with fake wiring instructions. These emails are convincing and sophisticated. Always independently confirm wiring instructions in person or via a telephone call to a trusted and verified phone number. Never wire money without double-checking that the wiring instructions are correct.