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Home > Small Business Services > Business Services FAQs | |||
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Business Services FAQsHow can my business become a Navy Federal business member?If you and all other principal owners of your business are currently Navy Federal members or at least eligible for membership, your business is eligible to become a business member. You must complete a business membership application, which you can pick up at one of our branches in our four major regions—the Washington, DC metropolitan area; Hampton Roads/Virginia Beach; Jacksonville, FL; or the San Diego, CA area. Or you may contact our Small Business Services Group, to request an application. What do I need to open a business account with Navy Federal?Along with a completed membership application, you must provide some sort of proof of the existence of your business, which could be one of the following:
Is my business eligible for a business account with Navy Federal?All principal owners of any business must be individually eligible for Navy Federal membership for their business to be eligible. If there are employees of these businesses that are not principals and do not fall into Navy Federal’s field of membership, they can be designated as authorized users of the business’s account(s) but they themselves would not be able to establish an account at Navy Federal. How many authorized signers can I have on my business account?Basic Business Checking—up to two total authorized signers; Business Plus Checking—unlimited authorized signers; Business Premium Checking—unlimited authorized signers Will my business account be separate from my personal account?Yes, completely separate. Will I be able to access my business account online?Yes. You may enroll in Navy Federal's Online Account Access using your business account Access Number. Will I be able to use Web Bill Pay from my business account?Yes. The Web Bill Pay service is available to all business members and is absolutely free—no fees at all. Will I be able to transfer funds from my personal and business accounts online?Yes. In order to set up transfers from your business account to your personal account(s), please contact our Electronic Services group at 1-888-868-8123. How can I apply for a business loan?Contact our Small Business Services Group, to request a business loan application package and discuss the process with a Business Account Officer or Business Account Specialist. Do you offer credit card processing services?Yes. Contact our Small Business Services Group, to find out more about merchant card processing services. Do you offer business insurance?Yes, we offer a full suite of business insurance products including general liability, commercial auto and professional liability. For more information, call our Small Business Services Group. |
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