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 our Online Services. 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.

Additional Information

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