Business
The right checking account for your growing business
We’ve designed our small business checking accounts with all types of businesses in mind. And as your organization grows, we can easily transition you to a different business bank account. Our team is excited to learn more about your business, municipality or non-profit, and to set you up with the best checking account for your needs. We also offer safe, secure, and time-saving services to help you manage your money.
Wondering which account is right for you?
Contact a business banker below or stop in a branch. Can’t wait? Compare our business checking products.
Business Prime Checking* — Does your business have low transaction activity? This business checking account has no fixed monthly service charge and no monthly minimum balance requirement.
Business Relationship Checking — If your business is doing a high number of transactions, our Business Relationship Checking could be right for you. We’ll even waive service charges if you maintain a designated average monthly balance.
Business Analysis Checking — Does your business keep a large account balance? If so, let’s talk about how we can apply an “earnings credit” to help offset monthly service charges and fees associated with our Cash Management Services.
Non-Profit Checking* — For our partners in the non-profit community, there is no fixed monthly service charge and no monthly minimum balance requirement, even for non-profits with low-transaction volume.
Interest on Lawyer’s Trust Account (IOLTA) and Interest on Real Estate Brokers Trust Account (IOREBTA). We offer these options to law firms and real estate brokers to help maintain client escrow accounts.
*eStatements are provided free of charge with this account. However, paper statements delivered via postal mail are available for a $2.00 monthly service charge.
Opening a business account
We are excited for the opportunity to serve as your banking partner. To make this process even easier — whether you’re visiting one of our branches, connecting with a member of our team, or chatting with a banker on the Chelsea|LIVE Video Banking App — here’s a guide to the documents you will need to get started.
- Trade Name Certificate (Recorded in the town in which you do business)
- Social Security Number of Sole Proprietor
You will also need to provide the following for any individual who will be a signer on the business account, as well as any individual owning more than 25% of the entity (or for non-profits any individual who controls the entity, i.e. CEO, President, CFO):
- A primary form of government-issued ID (such as driver’s license or passport)
- Social Security Number
- Contact information
Please note that upon review, we may request additional information in order to fulfill our policies and procedures as well as federal and state regulations. This list of requirements may be subject to change.
- Certificate / Articles of Organization *
- Active Status with Secretary of State Business Filing **
- EIN Number (if available)*** or Social Security Number of Sole Member
You will also need to provide the following for any individual who will be a signer on the business account, as well as any individual owning more than 25% of the entity (or for non-profits any individual who controls the entity, i.e. CEO, President, CFO):
- A primary form of government-issued ID (such as driver’s license or passport)
- Social Security Number
- Contact information
Please note that upon review, we may request additional information in order to fulfill our policies and procedures as well as federal and state regulations. This list of requirements may be subject to change.
- Certificate / Articles of Organization *
- Active Status with Secretary of State Business Filing **
- Operating Agreement *
- EIN Number ***
You will also need to provide the following for any individual who will be a signer on the business account, as well as any individual owning more than 25% of the entity (or for non-profits any individual who controls the entity, i.e. CEO, President, CFO):
- A primary form of government-issued ID (such as driver’s license or passport)
- Social Security Number
- Contact information
Please note that upon review, we may request additional information in order to fulfill our policies and procedures as well as federal and state regulations. This list of requirements may be subject to change.
- Certificate / Articles of Organization *
- Active Status with Secretary of State Business Filing **
- Corporate By-Laws *
- Recent Meeting Minutes
- EIN Number ***
You will also need to provide the following for any individual who will be a signer on the business account, as well as any individual owning more than 25% of the entity (or for non-profits any individual who controls the entity, i.e. CEO, President, CFO):
- A primary form of government-issued ID (such as driver’s license or passport)
- Social Security Number
- Contact information
Please note that upon review, we may request additional information in order to fulfill our policies and procedures as well as federal and state regulations. This list of requirements may be subject to change.
- Partnership Agreement *
- EIN Number ***
You will also need to provide the following for any individual who will be a signer on the business account, as well as any individual owning more than 25% of the entity (or for non-profits any individual who controls the entity, i.e. CEO, President, CFO):
- A primary form of government-issued ID (such as driver’s license or passport)
- Social Security Number
- Contact information
Please note that upon review, we may request additional information in order to fulfill our policies and procedures as well as federal and state regulations. This list of requirements may be subject to change.
- Partnership Agreement *
- Certificate of Limited Partnership
- Active Status with Secretary of State Business Filing **
- EIN Number ***
You will also need to provide the following for any individual who will be a signer on the business account, as well as any individual owning more than 25% of the entity (or for non-profits any individual who controls the entity, i.e. CEO, President, CFO):
- A primary form of government-issued ID (such as driver’s license or passport)
- Social Security Number
- Contact information
Please note that upon review, we may request additional information in order to fulfill our policies and procedures as well as federal and state regulations. This list of requirements may be subject to change.
- By-Laws, Meeting Minutes or Letter of Permission **
- EIN Number ***
You will also need to provide the following for any individual who will be a signer on the business account, as well as any individual owning more than 25% of the entity (or for non-profits any individual who controls the entity, i.e. CEO, President, CFO):
- A primary form of government-issued ID (such as driver’s license or passport)
- Social Security Number
- Contact information
Please note that upon review, we may request additional information in order to fulfill our policies and procedures as well as federal and state regulations. This list of requirements may be subject to change
To learn more about which business checking account could be right for you, call us at 860-448-4295, contact a member of our team below, or stop by your local branch to speak with a branch manager.
* As a best practice, most businesses will consult an attorney to obtain the document(s).
**Secretary of State Filing — Annual Report may be filed online.
***An EIN Tax ID Number may be obtained free of charge, from the IRS: online, by fax, or by phone. More information is on the IRS Website.
Cash Management Team
Frequently asked questions
Our Incoming Wires are received by Chelsea Groton Bank.
Receiving Bank: Chelsea Groton Bank, Groton, CT
Bank Routing/ABA: 211173357
Beneficiary Name: Customer Name
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: Customer Name
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.
