Merchant services & card acquiring
Take payment any way your customer wants to give it
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Business
Business checking accounts
Settlement by 7 a.m., and a banker who picks up
Overview
A business account that clears card, ACH, wire and instant payments into the same place, with next-day settlement by 7 a.m. Eastern. Three tiers scale from a sole proprietor to a business running payroll for a hundred staff.
From the Growth tier upward you get a named relationship banker with a direct line and a published response time, not a shared inbox.
Why HBI
A bank that reads your interim financial statements
Business banking at HBI starts from how you trade. We look at cash conversion, customer quality and the people running the business, not only at what could be pledged as security.
From the Growth tier upward you deal with a named banker who knows your file. They have a direct line and a published response time, and they stay with the relationship as the business grows.
What you get
Everything that is included
The full list, not the highlights. If something is not here, it is not included.
Features
- Unlimited electronic payments and collections included in the monthly fee
- Multi-user access with role-based permissions and dual authorization
- Accounting integrations for QuickBooks, Xero and NetSuite with daily feeds
- Bulk payment files for payroll and vendors, up to 5,000 lines
- Sub-accounts for sales tax, payroll tax and project funds at no extra fee
- API access for payment initiation and balance reporting on Enterprise
What you need to qualify
- Articles of incorporation or organization, or a DBA certificate for a sole proprietor
- Photo ID and Social Security number for every owner of 25% or more and one controlling manager
- A resolution authorizing the account and its signers
- Employer Identification Number (EIN)
Not sure you qualify?Speak to a banker before applying. A conversation costs nothing and does not touch your credit report.
Pricing
Fees & rates
Published here, and the same figure you will see in your quotation.
| Account | Monthly fee | Included | Relationship banker |
|---|---|---|---|
| HBI Start | $15 | Electronic payments, 1 user | Business support line |
| HBI Growth | $35 | Unlimited electronic, 5 users, 1 sub-account | Named banker |
| HBI Enterprise | $95 | Unlimited, 25 users, 5 sub-accounts, API | Named banker + analyst |
Fees and rates are reviewed annually and published at least 30 days before any change takes effect. Terms and conditions apply.
How it works
Three steps, start to finish
What happens, in what order, and roughly how long each part takes.
Send your documents
Upload the formation documents, resolution and owner identification. We confirm what is outstanding within one business day.
Verification
We verify owners and beneficial ownership. Most accounts clear verification in two to three business days.
Go live
Account number, cards and user access are issued together, and your banker calls to set up permissions.
Good to know
How we look after you
Three commitments that apply to every business product, this one included.
Controls come switched on
Dual authorization, account verification and user permissions are the default on business profiles. You choose to relax them; you do not have to remember to add them.
Your data feeds your books
Daily statement feeds run to QuickBooks, Xero and NetSuite, and reconciliation files are available for anything else, so month end starts from matched figures.
Decisions come with reasons
When we decline or reduce a facility we explain why and what would change the answer, so the next application is a better one.
Questions
Questions clients actually ask
If yours is not here, a banker will answer it directly.
Two to three business days for a standard LLC or corporation once all documents are in. Trusts and multi-layer ownership structures take longer because beneficial ownership must be verified.
Yes. Our switching service moves your automatic payments and payees and notifies the companies that bill you. It takes about three weeks.
Payments above a limit you set require a second named user to approve before they are released. It is the single most effective control against internal fraud.
The first $10,000 of cash deposited each month is free. Above that we charge $0.30 per $100. Electronic collection is free, which is why we encourage it.
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Business
Ready to take this further?
Apply online in about ten minutes, or ask a banker to call you at a time that suits.