Requirements for
Opening Accounts

To be compliant with Federal regulations, Fidelity Bank is required to collect certain information from personal banking customers, business banking customers, and any person(s) identified as beneficial owner(s) of the business at the time of opening a new deposit account, a new loan or loan renewal, or when there is a change in ownership or nature of a business.

What’s Needed to Open a Personal Account

Below is a list of the general information that may be needed to open a personal account (deposit or loan) at Fidelity Bank. Certain accounts may require additional information.

  • Name
  • Tax identification number
  • Valid government photo identification issued at least 30 days ago
  • Date of birth
  • Mailing and physical address (if different)
  • Contact phone number
  • Mother’s maiden name (for additional security)
  • Citizenship/Residency status
  • Occupation
  • General source of funds (e.g. wages, self-employed, etc.)
  • Expected level of cash activity

What’s Needed to Open a Business Account

Below is a list of the general information that may be needed to open a business account (deposit or loan) at Fidelity Bank. Certain accounts may require additional information.

  • Name of business
  • Tax identification number
  • Legal structure (e.g. LLC, Partnership, Corporation)
  • Validation of business existence (e.g. business governing documents, articles of corporation/organization, partnership agreement, court documents, state registry verification, etc.)
  • State of formation
  • Nature of business (e.g. construction, health care, etc.)
  • Mailing and physical address (if different)
  • Contact phone number
  • Purpose of account (e.g. operating, payroll, etc.)
  • Expected level of cash activity (e.g. under/over $10,000/mo.)
  • Beneficial owner information that may be required for anyone owning 25% or more and one control person:1
    • Name
    • Percentage of ownership
    • Title or role (e.g. CEO, President, Manager, etc.)
    • Tax identification number
    • Valid government photo identification issued at least 30 days ago (can be a photocopy)
    • Date of birth
    • Mailing and physical address (if different)
    • Contact phone number
    • Mother’s maiden name (for additional security)
    • Citizenship/Residency status (e.g. US citizen, resident alien, etc.)
    • Occupation (e.g. doctor, dentist. builder, attorney, etc.)
Disclosures
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  1. A control person can be defined as a person who has significant responsibility for managing the legal entity.