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Frequently Asked Questions

Business Savings


+How do I open a business savings account?
To apply for a business savings account, talk with a Financial Services Representative at your local branch.
+What do I need to be able to open a business savings account?
The documentation you need to open an account will vary based on your business type and business needs. The Business Account Requirements should provide a good place to start thinking about the documents that we will ask for during the account opening process.
+Are there maintenance fees associated with your business savings account?
For our regular Business Savings account, you can avoid a monthly maintenance fee if you maintain a minimum daily balance of $300. For requirements on our other business savings options, consult our Disclosure of Products and Fees — Business Accounts and Services.
+Can I access my business savings account online?
You can access everything online — including your business checking, business credit card, loans and lines of credit (including Checkline Reserve® and EquityLine) — through BOB Advantage. These accounts and their corresponding balances are automatically available through online banking and will appear every time you login to your account.
+Are my deposits insured by the FDIC?
The FDIC guarantees all traditional types of deposit accounts (checking, savings, money market savings and CDs) up to $250,000 per depositor and guarantees bank individual retirement accounts (IRAs) up to $250,000 per owner.
+What is a money market savings account?
A money market savings account delivers a higher interest rate on your liquid funds. And because our Premium Money Market Savings account offers tiered interest rates, the higher your balance, the more you earn.
+What is the minimum deposit to open a business savings account?
The minimum deposit to open a Business Savings or Commercial Money Market Savings account is $100. For other opening balance requirements, consult our Business Savings Comparison table.
+Does First Citizens offer CDs for my business?
We offer a variety of CDs, all with competitive interest rates. Premier Business Checking and Professional Business Checking customers earn preferred rates on CDs with a minimum deposit of $5,000. For current interest rates, contact your local First Citizens banker or call 1.866.FCB 4BIZ (1.866.322.4249) weekdays between 8:00 a.m. and 8:00 p.m. Eastern time.

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