Business Accounts - Frequently Asked Questions

Business Banking Online FAQ’s:

1. How do I access my Business Banking information?
   -You can access all of your banking information online after you have set up a username and password for your business.  Additionally, you can access your financial information over the phone by calling (866) 634-2760, or by visiting one of our Idaho First Bank locations.
2. Can I view my bank statement online?
   -Yes.  You can view your balance and all recent activity online.  Also, you can click on, “View My Statement” and a digital copy of your most recent statement can be reviewed.
3. Is there a way to give my accounts nicknames so I can tell them apart?
   -Yes.  If you are managing several different accounts for the same business you can create a different name for each.  This will make managing all of your funds confusion-free.  To create nicknames, log into your account and look for the, “Personal Options” link.  There you will find instructions on how to name each account differently.
4. How do I select which accounts I see in Business Online Banking?
   -You can view details and recent transactions for each of your different accounts by clicking on the bold writing that states the particular account’s name.
5. Can I access my Idaho First Bank personal accounts through Business Online Banking?
   -No.  You will have to log out of your Business Banking account and then log into your Personal Banking account to view that information.
6. Can I use Quicken or Money with Business Online Banking?
   -Yes!  By clicking on the “Export to Quicken/Money” link you can download all recent activity onto you computer accounting software. 
7. How do I pay bills?
   -With your routing number you can set up our “Bill Pay” system so that you can transfer funds directly to the account that needs to be paid off.  After logging onto your Idaho First Bank online account, click the, “Bill Pay” link and our directions will lead you through the appropriate steps. 

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Business Checking FAQ’s:

1. What business documentation is required to open a checking account?
   - Depending on the type and location of your business, documentation that you will probably need is:

       * Articles of Incorporation or Articles of Organization

       * Association By-laws

       * Assumed Banking Name Registration Form (ID/OR/UT/WA)

       * Assumed Name Certification (TX)

       * Certificate of Limited Partnership

       * Certification of Nonprofit Organization/IRS Determination letters 501(c)/502(c)

       * Fictitious Business Name Statement (CA/FL)

       * Partnership Agreement

       * Statement of Domestic Stock Corporation (Statement of Officers)

       * Statement of Information Form LLC-12 (CA only)

       * Additional documents may also be required

   To get a more specific list for your particular business give us a call at (866) 634-2760 or visit one of our Idaho First Bank locations.

2. What is the minimum balance required to open a business checking account?
   -For our First Free Small Business Checking there is no minimum balance or limit to the number of checks you can write.  To learn more about the most current account requirements for all other options, check our Business Banking webpage.
3. How often can I make deposits or access my funds?
   -This varies with the current rates and restrictions for each business checking accounts. For detailed information regarding present-day percentages, service fees, and minimum balances please give us a call at (866) 634-2760.
4. Can I avoid monthly service charges?
   -With our First Free Small Business Checking there are no monthly service charges whatsoever!  All of our other business checking accounts can be service charge free as well, as long as you keep your balance above the account’s required minimum.
5. Can I access my business accounts online?
   -Yes.  By setting up a username and password for your business account you will be able to manage your funds from wherever you have Internet access.  To set up your online account, simply visit www.idahofirstbank.com and click on the link, “Create an Account.”

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Business Savings FAQ’s:

1. Do I have to pay a monthly service charge for a Business Money Market account?
   -Not necessarily; you can avoid the monthly service charge by maintaining the required minimum balance.
2. What is the minimum deposit to open a Business Money Market account?
   -The minimum amount to open a Business Money Market account is $1,000.  For more information give us a call at (866) 634-2760 or visit one of our Idaho First Bank locations.
3. What business documentation is required to open a Business Money Market account?
   -Depending on the type and location of your business, documentation that you will probably need is:

       * Articles of Incorporation or Articles of Organization

       * Association By-laws

       * Assumed Banking Name Registration Form (ID/OR/UT/WA)

       * Assumed Name Certification (TX)

       * Certificate of Limited Partnership

       * Certification of Nonprofit Organization/IRS Determination letters 501(c)/502(c)

       * Fictitious Business Name Statement (CA/FL)

       * Partnership Agreement

       * Statement of Domestic Stock Corporation (Statement of Officers)

       * Statement of Information Form LLC-12 (CA only)

       * Additional documents may also be required

   To get a more specific list for your business give us a call at (866) 634-2760 or visit one of our Idaho First Bank locations.

4. How often can I make deposits or access my funds?
   -This varies with the current rates and restrictions for all business savings accounts. For detailed information regarding present-day percentages, service fees, and minimum balances please give us a call at (866) 634-2760.
5. Can I see what holds and pledges are affecting my account?
   -Yes.  By logging into your online account you will be able to see all the necessary information regarding your account, including any holds or pledges that may affect your funds.
6. When does account activity show up in my Account Details?
   -You will see account activity in two stages: pending and finalized. “Pending” means the bank has recorded the transaction, but funds have not been transferred and thus, it is not complete.  The other state is finalized, which appears without “pending” next to the amount, this means that all funds have been transferred and the transaction is complete.  As soon as this occurs it will show up on your activity record.

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