Frequently Asked Questions of Businesses
Business Loans - How do I apply?
Check holds - What is your policy?
Contact Information - Whom can I contact if I have a question on my business account?
Corporation Account - What information/documents are required to open?
Doing Business As - Can I add a (DBA) name to my account?
Federal Tax Identification Number (EIN) - How do I apply?
How do I add/delete a signer from my business account?
LLC Account - What information/documents are required to open?
Lost or Stolen Account Information - What should I do?
Mailing Address - How do I change?
Online Banking - How do I enroll my business?
Online Bill Pay - How do I enroll my business?
Organization Account - What information/documents are required to open?
Overdraft Protection - How do I set up?
Partnership Account - What information/documents are required to open?
Sole Proprietor Account (Wisconsin or Illinois) - What information/documents are required to open?
Sole Proprietor Account (Minnesota) - What information/documents are required to open?
Q. How do I apply for a business loan?
A. To apply for any of our business loans click here for a list of our Business Banking Officers near you.
Q. What is your check hold policy?
A. Our policy is to follow federal regulations. Availability of some types of check deposits is delayed; the amount of the delay depends on the type of check, as described below. During the delay, you may not withdraw the funds in cash and we may not use the funds to pay checks that you have written. Please remember that even after we have made funds available to you, and you have withdrawn the funds, you are still responsible for checks you deposit which are returned to us unpaid and for any other problems involving your deposit.
Funds from the following deposits are available on the day of the deposit:
- Electronic Direct Deposits
- U.S. Treasury checks that are payable to you
- Wire Transfers received prior to 4:00pm CST
- Checks drawn on Guaranty Bank
- Cash
- State and local government checks that are payable to you
- Cashier’s, certified, and teller’s checks that are payable to you
- Federal Reserve Bank checks, Federal Home Loan Bank checks, and postal money orders, if these items are payable to you
The delay for other check deposits depends on whether the check is a local or nonlocal check. Our policy is to make funds from local and nonlocal checks available as follows:
Local Checks
The first $100 from a deposit of local checks will be available the first business day after the day of your deposit. The remaining funds will be available on the second business day after the day of your deposit.
- For example, if you deposit a local check of $700 on a Monday, $100 of the deposit is available on Tuesday. The remaining $600 is available on Wednesday.
Nonlocal Checks
The first $100 from a deposit of nonlocal checks will be available on the first business day after the day of your deposit. The remaining funds will be available on the fifth business day after the day of your deposit.
- For example, if you deposit a $700 nonlocal check on Monday, $100 of the deposit is available on Tuesday. The remaining $600 is available on Monday of the following week.
If we cash a check for you that is drawn on another bank, we may withhold the availability of a corresponding amount of funds that are already in your account. Those funds will be available at the time funds from the check we cashed would have been available if you had deposited it.
For more information on extended holds and holds placed on new account please refer to your Deposit Disclosure.
Q. Who can I contact if I have a question on my account and when are they available?
A. Our Customer Service Center is available Monday through Friday 8 AM to 7 PM (CST) and Saturday 9 AM to 3 PM (CST) to assist you.
You may also access your account information 24 hours a day using our INFO Line system.
To Access either Customer Service Center or our INFO Line system dial 1-800-235-4636.
Account information is also available 24 hours a day through our Online Banking system. Click here to log in. Not enrolled? Click here
Q. What information/documents are required to open a Corporation Account?
A. To open a Corporation account please provide us with the following information and forms:
- Federal Tax Identification Number (EIN) for the Business
- Physical Address for the Business
- Articles of Incorporation – with Stamp/Seal or Entity ID Number and examiners initials
- Resolution – if person opening account is not listed as the incorporator on the articles
- Drivers License for all signers – please note to open a business account all signers must present a valid drivers license. We unfortunately are unable to accept State ID’s when opening business accounts.
Please bring the information/documents listed above to any of our branch locations to open your account. Click here to find the location nearest you.
Q. Can I add a Doing Business As (DBA) name to my account?
A. You may add a Doing Business As (DBA) name to your current LLC or Corporation account only. Please note that only one DBA name can be added per account. To add the DBA name to your current business account please visit one of our local branch offices to fill out the required forms. Click here to find the location nearest you.
Q. How do I apply for a Federal Tax Identification Number (EIN)?
A. You can obtain a Federal Tax Identification Number (EIN) by doing one of the following:
- Contact the Business & Specialty Tax Line at 1-800-829-4933 to receive your EIN number immediately.
- Apply online: https://sa.www4.irs.gov/sa_vign/newFormSS4.do
Once you receive your Federal Tax Identification Number (EIN) we are able to open your account.
Q. How do I add/delete a signer from my business account?
A. To add/delete a signer please visit any of our branch locations to fill out the required form. Click here to find the location nearest you. The following is needed to add a signer to the account:
- Current Signer must be present at branch to sign paper work
- New Signer must be present at branch to sign paper work
- New Signer must provide valid drivers license
Q. What information/documents are required to open a LLC Account?
A. To open an LLC account please provide us with the following information and forms:
- Federal Tax Identification Number (EIN) – if the LLC is single owned you could use the Owners Social Security Number as the reporting Tax ID.
- Physical Address for the Business
- Articles of Organization – with Stamp/Seal or Entity ID Number and examiners initials
- Drivers License for all signers – please note to open a business account all signers must present a valid drivers license. We unfortunately are unable to accept State ID’s when opening business accounts.
Please bring the information/documents listed above to any of our branch locations to open your account. Click here to find the location nearest you.
Q. What should I do if my account information has been lost or stolen?
A. If your account information has been lost or stolen please contact our Customer Service Center at 1-800-235-4636 (Option 1, 1, 0) to report the loss. We will lock your account to guard against any unauthorized use. Once you are able, please visit you nearest branch location to close your existing account and open a new account.
Q. How do I change my business’ mailing address?
A. To change your business’ mailing address on an account please either visit our branch locations or send a letter with your request to:
Bank Processing Center
PO Box 240200
Milwaukee, WI 53224-9984
If you choose to write a letter, your request should include:
- The Business name printed
- A signer’s name printed
- A signer’s signature
- Old Address
- New Address
Once we have received your request, your address will be updated in our system within 3 to 5 business days.
Q. How do I enroll my business into Online Banking?
A. For first time enrollment in Online Banking:
- Visit our website www.guarantybanking.com
- Click the Enroll button located in the upper right corner of the page
- A new window displaying our Online Banking Disclosure opens.
- Please read through the disclosure carefully and if you agree to the terms, click the Accept button at the bottom of the screen.
- Once the Accept button has been clicked, a new window is displayed.
- Maximize this screen so it is the size of your computer monitor.
- Complete the six (6) required fields and click the Submit button.
- You are directed to a new screen that will ask you to set up your Access ID and Password.
- Once you have established your Access ID and Password you will be able to view your accounts Online 24 hours a day.
If you have problems with the enrollment please contact our Customer Service Center at 1-800-235-4636 (Option 1, 1, 0) for further assistance.
Q. How do I enroll my business in Online Bill Pay?
A. To enroll into Online Bill Pay:
- Log into your business’ Online Banking account. www.guarantybanking.com
- Click on the Checking Account you would like to use to pay your bills.
- Click on the Pay Bills button that appears in the middle of your screen
- You will be asked to verify your business’ email address.
- Our Bill Pay Disclosure appears next. Read through the terms and if you agree, click the Accept button.
- Your business account is now enrolled in Online Bill Pay; however, the account is subject to an approval process that may take up to two (2) business days.
Q. What information/documents are required to open an Organization Account?
A. To open an Organization account please provide us with the following information and forms:
- Federal Tax Identification Number (EIN) for the Business
- Physical Address for the Business
- Articles of Organization, Organization By Laws, Board Minutes, Resolutions, Certificate of Election or other paperwork noting directors and those authorized to transact business on behalf of the Association/Organization. Whichever of the prior documents are provided must specifically list the individual(s) opening the account.
- Drivers License for all signers – please note to open a business account all signers must present a valid drivers license. We unfortunately are unable to accept State ID’s when opening business accounts.
Please bring the information/documents listed above to any of our branch locations to open your account. Click here to find the location nearest you.
Q. How do I set up Overdraft Protection on my business account?
A. Our overdraft protection service can automatically transfer funds from another of you checking, money market, or statement savings account to cover unexpected overdrafts. A $9 fee is charged per transfer and a signed and completed application is required to sign up for the service.
Here are a few of the Overdraft Protection features:
- No minimum transfer amount
- A notice is mailed when a transfer has occurred showing the amount of the transfer plus the fee.
- The amount of the overdraft, plus the fee, is withdrawn from the funding account (the account money will be drawn from to cover the overdraft) and deposited to the overdrawn checking account
Please note the following: Sole Proprietor accounts are the only business accounts that can be set up with personal accounts. LLC, Corporations, Partnerships, and Organizations con only be set up with an other identical LLC, Corporation, Partnership or Organization.
Our Business Reserve Line also provides overdraft protection on your business checking. Click here for the details.
Q. What information/documents are required to open a Partnership Account?
A. To open a Partnership account please provide us with the following information and forms:
- Federal Tax Identification Number (EIN) for the Business
- Physical Address of the Business
- Notarized partnership papers
- Drivers License for all partners – please note to open a business account all partners must present a valid drivers license. We unfortunately are unable to accept State ID’s when opening business accounts.
Please bring the information/documents listed above to any of our branch locations to open your account. Click here to find the location nearest you.
Q. What information/documents are required to open a Sole Proprietor Account (Wisconsin or Illinois)?
A. To open a Sole Proprietor account in the state of Wisconsin or Illinois please provide us with the following information and forms:
- Federal Tax Identification Number (EIN) for the Business or Social Security Number for the Sole Proprietor
- Physical Address for the Business
- Drivers License for all signers – please note to open a business account all signers must present a valid drivers license. We unfortunately are unable to accept State ID’s when opening business accounts.
Please bring the information/documents listed above to any of our branch locations to open your account. Click here to find the location nearest you.
Q. What information/documents are required to open a Sole Proprietor Account (Minnesota)?
A. To open a Sole Proprietor account in the state of Minnesota please provide us with the following information and forms:
- Federal Tax Identification Number (EIN) for Business or Social Security Number for the Sole Proprietor
- Physical Address for the Business
- Certificate of Assumed Name
- Drivers License for all signers – please note to open a business account all signers must present a valid drivers license. We unfortunately are unable to accept State ID’s when opening business accounts.
Please bring the information/documents listed above to any of our branch locations to open your account. Click here to find the location nearest you.
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