About BB&T
BB&T Commercial is one of the largest financial institutions located in Winston-Salem, N.C, United States. It has been offering its financial services since 1872.
Interestingly, this company has a good record of providing quality financial services to their clientsBB&T Commercial Account offers a variety of services including the following:
InvestmentsInsurance Commercial bankingWealth managementRetail banking Asset management Mortgage Corporate banking Specialized lending Capital markets
BB&T has more than 1700 branches in 15 states as well as in the Washington District of Columbia.
BB&T merged with SunTrust in December 2019. Both institutions came under the name Truist. However, they still provide independent products and services.
COMMERCIAL banking at BB&T
Commercial accounts at BB&T are mostly checking accounts, suitable for small businesses.
BB&T offers the following to businesses:
Specialized accounts for:Government organizations Nonprofit organizationsBusinesses that possess unique financial requirements. Three different business checking accounts suitable for small business
Why select BB&T commercial accounts.
The commercial accounts offered at BB&T are tailor-made for businesses, which ensures that all the business finances are managed efficiently and effectively. The commercial accounts accept a low to moderate number of transactions every month. Commercial accounts are suitable for business owners who prefer a physical interaction with their financial institution. Suitable for businesses that prefer free business checking accounts or accounts with lower bank charges. BB&T has a mobile app that makes banking easier for business owners.
How BB&Tcommercial accounts work?
To open a commercial account at BB&T, the business must be located near any BB&T branch in the US.
Branches are located in:
Florida North CarolinaAlabama Kentucky New Jersey OhioPennsylvania TexasTennessee West Virginia Washington, D. C Business needs to choose from the three main business checking accounts, or they may select specialized checking accounts.
Three main business checking accounts include:
Business value 200Business value 50Business value 500
Specialized checking accounts include:
Public Fund Interest accounts Community Checking accounts Interest Checking accounts Interest in Lawyers Trust Accounts Business Analyzed Checking accounts Basic Public Fund
The commercial accounts at BB&T can be opened in the following ways:You can visit one of BB&T’s financial centers near you. You can open your account over the phone by reaching out to one of the BB&T representatives. You can apply online using the BB&T online applications. However, the online applications are only for the three main business checking accounts as well as Business Analyzed Checking accounts. You will need to visit one of the BB&T branches if you would like to apply for other specialized checking accounts.
What you need to apply for a commercial account at BB&T
Provided your details as well as your business details, such as your:Social security number Date of birth Business nameOwnership percentage Business addressEmployer identification number You will be required to provide the personal details of the following persons:Anyone who owns 25% or more in the business (known as a beneficial owner). Authorized signers for the commercial account. Members of management such as the chief financial officer, managing member, directors, etc. Download and complete the “Beneficial Ownership Certification” document beforehand. This document can be downloaded on the BB&T website, and it will be required when you apply at one of the BB&T financial centers. You will be required to provide the following documents when you open a commercial account at BB&T:All the business legal documents Document of the beneficial owners and the management membersYour ID copy
What happens after you open your BB&T commercial account?
After you open your commercial account, you will be notified if it was approved, thereafter you can start using the new account.
You can transfer cash into the account by:
Mailing a checkUsing a debit card Online transferIn-person deposit at an ATM or one of the BB&T branches near you.
Opening a commercial account at BB&T will enable you to access their mobile and web applications so that you can make online transactions.
FREQUENTLY Asked Questions
What are the monthly fees for the three main business checking accounts offered at BB&T?Business Value 50 has no monthly fees. Business Value 500 has a monthly fee of $25Business Value 200 has a monthly fee of $12. Is there a way to waive the monthly fees involved in the Business Value 200 account as well as the Business Value 500 accounts? Yes, there are four different ways to waive the monthly fees for those two commercial accounts. Can I link my BB&T commercial account with other external accounts?You can link your BB&T commercial account with external accounts and also other BB&T bank accounts. What services does the BB&T mobile app offer? The BB&T app offers a range of services such as customer support, access to Zelle, receipt management, and more.
CLOSING:
Commercial accounts provide you with the opportunity to not only manage your business finances more effectively but also allow you to have a good relationship with your bank. A bank like BB&T can provide you with the best financial services and above all, they go the extra mile by providing you with ongoing support so that your business may flourish.
