Business Banking FAQs IN & MI | Everwise Credit Union

Why should I open a business account instead of using my personal accounts?

A dedicated business account keeps your personal and business finances separate, which simplifies bookkeeping, makes tax time easier, and gives you a clearer view of your cash flow and profitability.

How do I get help choosing the right business products?

You can schedule time with an Everwise Business Relationship Manager to review your goals and talk through account options, financing, and digital tools that fit your business stage.

How do I get started with Everwise business banking?

You can start by visiting a branch or contacting the business services team. They will help you gather documents, open accounts, and explore loan options as needed.

What kinds of businesses do you work with?

Everwise works with a wide range of businesses, including sole proprietors, partnerships, LLCs, corporations, and nonprofits, from startups to more established organizations.

Who can open a business account with Everwise?

Business accounts are available to eligible businesses operating in Everwise’s field of membership areas, including Indiana and Michigan. A Business Services team member can help confirm your eligibility.

Does Everwise offer financial education for business owners?

Yes, Everwise provides free business financial education resources and modules on topics like obtaining financing and funding, managing cash flow, and building a business plan, available through the Business Financial Education section.

Are there transaction limits and fees for business accounts and services?

Monthly service charges, transaction limits, and other fees vary by account and service. Current fee schedules are available online and by speaking with a Business Relationship Manager.

Can I open a business account online, or do I need to visit a branch?

Most businesses may be asked to visit or schedule time with a business services team member to finalize signers and documentation. Click here to schedule an appointment online.

Can multiple people be authorized on a business account?

Yes, you can add multiple authorized signers and set access levels for online and mobile banking based on your internal roles.

Is there a minimum deposit to open a business account?

Minimum opening deposits vary by account type. Current requirements are listed in the product details and can be reviewed with a Business Relationship Manager.

What documentation do I need to open a business checking or savings account?

In general, you will need government-issued identification for all owners/signers, an Employer Identification Number (EIN) or Social Security Number for sole proprietors, formation documents (such as Articles of Organization or Incorporation, partnership agreement, or DBA certificate). Exact requirements may vary by business type.

Are my business deposits insured?

Business deposits at Everwise are insured up to applicable limits through NCUA federal insurance, similar to personal accounts.

Can I have multiple business accounts for different locations or projects?

Yes, you can open multiple business accounts to track separate locations, projects, or reserve funds, and manage them together through online and mobile banking.

How do I make deposits and access funds in my business account?

You can deposit and access funds through branches and ATMs, mobile deposit (where available), electronic transfers, and direct deposit. You can also use your business debit card and checks linked to the account.

Do I need a business plan to apply for a loan?

It is likely that Everwise will want to see an up-to-date business plan or summary that explains your business model, how you’ll use the funds, and your financial projections, especially for larger requests or growth financing.

Does Everwise offer SBA loans?

Everwise offers SBA options for eligible borrowers, which can provide flexible terms and lower down payments. Availability and terms depend on SBA guidelines and credit approval.

How do I know which type of financing is right for my business?

A term loan often works well for long-term purchases like equipment or vehicles, while a line of credit can help manage short-term cash flow, seasonal needs, or unexpected opportunities. A Business Lending Team member can help you choose based on your goals.

How long does the business loan process take?

Timeframes vary based on the type of loan, collateral, and how quickly documents are provided. Smaller requests may be decided faster, while commercial real estate loans and more complex deals require additional review.

What do I need to apply for a business loan or line of credit?

Common requirements include photo identification, recent business and personal tax returns, current financial statements (profit and loss and balance sheet), a business debt schedule, entity documents, licenses, and a short description of how you will use the funds.

What types of business loans does Everwise offer?

Everwise offers small business loans, business lines of credit, and commercial loans to finance equipment, vehicles, inventory, working capital, and commercial real estate, subject to credit approval. See more here.

Can I get debit/credit cards for employees?

You can request additional cards for authorized employees and, in many cases, set individual limits and monitoring preferences to help control spending.

Does Everwise offer business debit and credit cards?

Yes, Everwise offers business debit cards linked to your checking account and business credit card options designed to help manage everyday expenses.

What should I do if a business card is lost or stolen?

If a business debit or credit card is lost or stolen, contact Everwise right away using the number on your account documents or in online banking to block the card and request a replacement.

For Debit Cards
During business hours:

Contact Member Services at (800) 552-4745, 7 a.m. to 7 p.m. Monday through Friday, and 8 a.m. to 3 p.m. on Saturday.
Visit your nearest Everwise branch.

After business hours (weekdays/weekends/holidays):

Please call (888) 918-7854.

For Credit Cards
Call the 24-hour hotline at (800) 449-7728.

For debit or credit cards outside the U.S., call collect: (727) 299-2449.

Can I manage cash flow and payments through Everwise?

Yes, Everwise provides bill pay, ACH and electronic payment options (where available), and tools to help you manage vendor payments, recurring bills, and timing of cash in and out.

Do you offer mobile deposit for business checks?

Eligible business accounts can use mobile deposit within the Everwise mobile app, subject to limits and review. Guidelines and limits are explained when you enroll.

Is there a separate login for business online banking?

Business accounts use secure online access separate from any personal accounts, and you can set up additional users with role-based permissions so employees may only see and do what you authorize.

Business members can enroll in Business Online Banking by clicking the Login icon at the top of any Everwise webpage. Then simply:

Select Business Banking Login from the online banking dropdown.
Click Enroll Now under the login button.

Note: If business account(s) are visible on your personal membership's home screen, you will not be able to access account details or do any type of transaction activity.

What digital tools are available for business banking?

Everwise offers online and mobile business banking so you can view balances, transfer funds, pay bills, make loan payments, and download or sync data to accounting software like QuickBooks. We also offer digital tools such as positive pay, remote deposit capture, and ACH.

Can I set up alerts for my business accounts?

Yes, you can create custom alerts for things like low balances, large withdrawals, or card transactions to help you monitor cash flow and detect issues quickly.

How does Everwise help protect against fraud for my business accounts?

Everwise uses multiple layers of security, including encryption, authentication, and monitoring for unusual activity, and offers tools such as account alerts to help you track what’s happening on your accounts. Features like Positive Pay and electronic bill pay also allow you to send secure payments to your intended recipients.

What should I do if I suspect fraud on my business account?

If you notice suspicious transactions, contact Everwise immediately using the number listed on your statement or online banking so the team can review activity, secure the account, and guide you through next steps.

If you suspect fraudulent activity on your account:

During business hours:

Contact Member Services at (800) 552-4745, 7 a.m. to 7 p.m. Monday through Friday, and 8 a.m. to 3 p.m. on Saturday.
Visit your nearest Everwise branch.

After business hours (weekdays/weekends/holidays):

Complete the secure form on our Contact Us page and provide detailed information about what occurred.

Subject to membership eligibility requirements. Loans subject to credit approval. Borrower must be a resident of Indiana or Michigan, and for home loans property must be in Indiana or Michigan. All credit union programs, rates, terms, and conditions may change without notice.

Business Banking FAQs

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