Opening an Account

Come on in! We’re very excited to help you open your TowneBank account.  To get started, simply visit a TowneBank office, or give us a call to set up an appointment.  What is required to open a business account?

Depending on your business type you may need different types of identifying information.  For your convenience we have provided a list of documents required to open a deposit account (please see below).  Additional documentation may be requested based on your company’s organizational structure.

Also, please have your company representative bring two (2) forms of identification (one with a photo).  Accounts may only be opened by an authorized representative from your company, which includes company officers or the owner as detailed in your documentation for your company.  Please see the list below for acceptable forms of ID for the company representative:

Acceptable Photo Identification for company representative

  • Unexpired driver’s license
  • Unexpired passport
  • Unexpired military ID
  • Unexpired state issued ID card

Acceptable Non-Photo Identification for company representative

  • Social Security Card
  • Voter Registration Card
  • Health Insurance Card
  • Birth Certificate
  • Employment ID Card
  • Pay Stub
  • Automobile registration card
  • Unexpired Work Visa

Below are the documents required for opening an account by business type:

Corporation

Business owners opening an account must provide the following:
  • IRS Acknowledgement Letter for TIN 
  • Corporate bylaws
  • For non-profits: IRS 501(c)(3) letter for non-profit organizations or tax exempt documentation

Limited Liability Company (LLC)

Business owners opening an account must provide the following:
  • IRS Acknowledgement Letter for the TIN
  • Operating Agreement

Partnership

Business owners opening an account must provide the following:

  • IRS Acknowledgement Letter for the TIN
  • Partnership Agreement
  • Fictitious Name Certificate / Certificate of Trade Name
  • A Certificate of Limited Partnership (if necessary)

Sole Proprietorship

Business owners opening an account must provide the following:
  • Social Security Card or the IRS Acknowledgement Letter for the TIN 
  • Business License (VA Only)
  • Fictitious Name Certificate / Certificate of Assumed Name

Club / Organization / Association

Leaders opening an account must provide the following:

  • IRS Acknowledgement Letter for the TIN
  • Meeting minutes for the EIN / Statement of Organization form / Association Bylaws / Certification on letterhead signed by Secretary authorizing signatory for the Association
  • For Non-Profits: IRS 501(c)(3) letter for non-profit organizations or tax exempt documentation

We look forward to welcoming you to the Towne Family.  To get started, simply find a location near you and stop by at your convenience Monday-Friday.   Be sure to check the hours of operation for your location, as hours may vary.