Business Checking
Contact a Sunward representative about your business' activity to see which solution is right for you.
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Access Business Checking
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Basic Business Checking
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Active Business Checking
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Account Analysis Checking*
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| Minimum deposit to open | $100 | $100 | $100 | N/A |
| Minimum average monthly balance to avoid service charge | $1,000 | $2,500 | $5,000 | N/A |
| Monthly service charge | $5 | $8 | $15 | $15 |
| Number of written checks per month | 50 | 100 | 200 | N/A |
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Number of deposits per month
NOTE: Mobile deposits and ACH deposits do not count against the number of deposits, the limit pertains to In-Branch deposits only | 10 | 20 | 30 | N/A* |
| Number of deposited items per month | 50 | 100 | 200 | N/A* |
| Charge for excess written checks or excess deposited items | $0.30 | $0.30 | $0.30 | N/A* |
| Excess In-Branch Deposits | $1 | $1 | $1 | N/A* |
| Pays dividends | No | No | No | No |
| Endorsement stamp | If requested, $20 each | 1 free stamp; each additional $20 | 1 free stamp; each additional $20 | 1 free stamp; each additional $20 |
| Online banking | Free - includes Bill Pay | Free - includes Bill Pay | Free - includes Bill Pay | Free - includes Bill Pay |
| Premium online banking | $35 per month | $35 per month | $35 per month | $35 per month |
*The Account Analysis Checking uses a consolidated average monthly balance to calculate an "earnings credit" and offset deferred account fees. All fees are tracked on a monthly basis. Account Analysis Checking is cost effective when transaction activities exceed the Active Checking fee counts for check processing, deposit items, and deposits per month.
ACCOUNT ANALYSIS CHECKING
With this option, get a monthly analysis statement that reflects account balance, transaction and item volumes processed, fees for services provided, and applicable earnings credits to offset fees. See the Business Schedule of Fees and Charges for more details.
OPEN AN ACCOUNT
Please visit any branch or call us to find out what documentation is required to open a Business Account. Sunward verifies the registration of all businesses with the appropriate state agency.
Click Here to View the Documents Required to Open a Business Account
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| Documents Required | Sole Proprietorship | LLC | Corporation (S, C, and Non-Profit) | General Partnership | LP, LLP, LLLP | Club Account | Public Funds Account (NM entities only) |
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| ID information for all signers | X | X | X | X | X | X | X |
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Tax ID
EIN letter or a tax return from the last 2 tax years - must show as filed |
EIN/SSN | EIN/SSN | EIN | EIN | EIN | EIN/SSN | EIN |
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Articles of Organization
Must be a stamped copy or the online certification shown as filed by the state |
X | ||||||
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Articles of Incorporation
Must be a stamped copy or the online certification shown as filed by the state |
X | ||||||
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Business License
Must show the DBA name and business owner's name or business name or Business License and State-issued Taxation and Revenue Department Registration Certificateif the Business License does not display the owner’s name or business name |
X | X (only if using trade name/DBA) |
X (only if using trade name/DBA) |
X (only if using trade name/DBA) |
X (only if using trade name/DBA) |
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Foreign Registration
Required if business is registered outside NM, CA, CO, AZ, TX, UT, NV and is doing business in one of these states |
X | X | X | X | |||
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Operating Agreement
or
Alternative Document (signed letter/meeting minutes)
specifying who is authorized to establish membership |
X | ||||||
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By-Laws
or
Alternative Document (signed letter/meeting minutes)
specifying who is authorized to establish membership |
X | ||||||
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Partnership Agreement
or
Articles of Partnership
or
Alternative Document (signed letter/meeting minutes)
specifying who is authorized to establish membership |
X | X | |||||
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Meeting Minutes
specifying who is authorized to establish membership |
X | ||||||
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Letter of Instruction
specifying who is authorized to establish membership (must be signed by an official) |
X | ||||||
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Letter from Sponsoring Organization if using sponsor's EIN |
X |
Phone Numbers
- Report a Lost or Stolen Business Debit Card: 800.947.5328
- Confirm Blocked Transaction: 888.241.2440