Business Savings
Business Checking
Business Credit Card
Business Acronyms
Business Services
100

Which one document is required for all business types

  • EIN Letter – for Sole Proprietorship, SSN is valid
100

What are the fees associated with a community checking account?

  • None. Since they are a not-for-profit organization, we do not charge check or cash depositing fees – They CAN be subject to NSF or returned deposit fees though
100

What is the business credit card called?

  • Business rewards credit card
100

EIN

Employer Identification Number

100

Which checking account must a business account need if they wish to utilize our partner business services?

Premium Business Checking

200

Which channels can a business account be opened through

200

How can the product maintenance fees be waived on the Premium and Small business checking?

  • Premium – ADB of $2500
  • Small – eStatements
200

What are the requirements to open a Chartway Business credit card

  • Must have a business account
  • Must be 18
  • Must have class 1 ID
200

LLC

Limited Liability Company

200

What is the Main purpose of Clover?

The main purpose of Clover is to provide businesses and individuals with the tools and requirements to accept credit cards, debit cards, and other forms of electronic payment for transactions, helping small business members manage, track, and grow their business without the need for significant investments or bank loans. (POS technology)

300

What is the required capital when opening solely a business prime share?

While it is usually only $5, if the member is only opening a prime share, a $100 deposit is also required

300

How long does the $100 initial deposit have to stay in the account?

It doesn’t, it could be withdrawn immediately

300

What is the minimum and maximum credit limit for business rewards credit card?

  • The minimum limit available is 2,500
  • The maximum limit available is 35,000
300

DBA

Doing business as

300

What does Autobooks service allow members to do

Streamline invoicing and payment processing. - Simplify bookkeeping and reporting. - Accept digital payments and manage payments efficiently. - Customize invoices and payment links for their business needs. - Use features like Checkout Pages for selling items and managing payments. - Sync transactions automatically with their checking account and manage financial reporting.

400

Which business types does Chartway not offer business accounts for?

  • Non-Bank Financial Institution
  • Money Service Business
  • Marijuana / Hemp Business
400

What are the 3 types of Business checking accounts Chartway Offers

Community checking

Small Business checking

Premium business checking

400

How can a member apply for a business credit card?

  • Chartway.com
  • Through a team member referral to the business lending team
400

ACH

Automated Clearing house

400

How can a member Enroll in Autobooks

Their online banking

500

What are the 5 types of businesses?

  • Sole Proprietorship – An individual owns this, it is unincorporated, for profit and operates under a name different than its owner
  • Partnership – A group of persons who share risks and profits
  • Limited Liability Company (LLC) – A business set up to derive the benefits of protection from individual liability while permitting the income tax advantages of a partnership
  • Corporation – A company or group of people authorized to act as a single entity and recognized as such in law
  • Organization – Is an entity comprising one or more people and having a particular purpose
500

How many business checking accounts can a member have under one business member number?

  • 4
500

What business types are eligible to apply for the Business Reward credit card?

  • Sole prop
  • LLC,
  • Partnerships,
  • Corporations
  • Organizations
500

OFAC

Office of foreign assets control

500

What are the Main 3 Business services currently offered

Merchant services (clover)

Autobooks

Business ACH Origination and Wire

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