Marlin Business Bank® strives to make it easy to grow your capital, but sometimes you have questions.
Click on a question below to find out the answer. If you don't see your question feel free to contact a banking professional here.
- How is interest calculated on a Business Certificate of Deposit?
- Is there a penalty for early withdrawal?
- Can I receive interest disbursements from my Business Certificate of Deposit?
- Does Marlin except personal CDs?
- What type of documents do I need to open a Business CD account?
- How do I open a Business CD?
- How do I submit my required documents?
- How do I fund my Business CD?
- Will my Marlin Business Bank CD be FDIC insured?
- Are there any fees to open or maintain an account?
- How do I know when my Business CD is open?
- Can I add money to my CD once it has been opened?
- What happens to my account when my CD matures?
- Will Marlin Business Bank remind me of the maturity date on my Business CD?
How is interest calculated on a Business Certificate of Deposit?
Interest on your Business CD is compounded daily. Interest will be paid by ACH credit to your checking account.
Is there a penalty for early withdrawal?
As with any CD, there is a penalty for withdrawal of principal prior to the maturity date.
The penalty will be the greater of half of the interst that would be earned for the term of the certificate of deposit on the amount withdrawn or seven days' interest.
To open a Business CD Account, you'll need to provide us with certain documentation:
- Corporate Resolution (if applicable)
- Business W-9 Form with tax ID number
- Voided check with the business name preprinted on the check to setup funding and interest payments.
How do I open a Business CD?
Opening a Business CD is quick, easy and convenient. Simply visit our website at www.marlinbank.com/cd/apply and click on Open An Account Today. Follow the instructions to open an account online and make sure to have the following documents on hand:
- Social Security Number (for identification purposes)
- Driver's license or other valid state or military picture identification
- Your existing business checking account information and routing number to setup funding and interest payments
- Business Tax ID number
How do I submit my required documents?
Once you have completed your deposit account online, you have 60 calender days to provide us with a few required documents before your account can be approved. You must deliver the required documents via Fax (1-856-813-2879), email them to firstname.lastname@example.org or upload the documents as instructed during the application to complete the account opening process.
How do I fund my Business CD?
Funding your Marlin Business Bank Business CD is easy. Marlin prefers ACH, but check and wire informatin is included below if ACH does not work for your business.
ACH Transfer - One of the easier ways to fund your Business CD. Electronically transfer your funds by supplying your bank's routing number and your account number during the application process. Just have a bank check handy when signing up.
Check - You can fund your account by check, just mail it to:
Marlin Busines Bank
ATTN: Deposit Services
2795 E. Cottonwood Pkwy
Salt Lake City, UT 84121
Wire - You can elect to wire money to fund your Marlin Business Bank Business CD. Just use the information below:
|Bank Name:||Wells Fargo, NA|
|Bank Address:||255 2nd Ave South
Minneapolis, MN 55479
Bank Tel: 800-745-2426
|Beneficiary Account #:||Credit: Marlin Business Bank
|Additional Instructions:||For the benefit of (credit to):
Will my Marlin Business Bank CD be FDIC insured?
You can have peace of mind knowing that your deposit is FDIC insured up to the maximum allowable limit. The standard insurance amount of $250,000 per depositor is currently in effect. For further information on our FDIC insurance, visit www.fdic.gov.
Are there any fees to open or maintain an account?
No. Marlin Business Bank wants to help you grow your business and does not charge opening or maintenance fees. The only fee would be related to an early withdrawal penalty. See question above on penalty for early withdrawal.
How do I know when my Business CD is open?
You'll receive an email with your Customer Number, which you will need to access your account, and the Account Number on the last page of the account opening process. Once we receive all required documentation from you and your account is funded, your Business CD will be officially opened.
Can I add money to my CD once it has been opened?
While you can't add money to an existing CD, you can open additional CDs at any time.
What happens to my account when my CD matures?
Marlin Business Bank will notify you via email that your CD is scheduled to mature. For your convenience, your CD will automatically renew for the same term as the original term at Marlin Business Bank's posted rates on the date of your renewal. If you do not want your Marlin Business Bank CD to renew automatically, you should notify us prior to the maturity date of the CD by calling us at 800-936-0148 or emailing us at email@example.com.
Will Marlin Business Bank remind me of the maturity date on my Business CD?
Yes, we will send you a notice prior to maturity.
With A Bank You Can Trust
Business owners today are looking forward to tomorrow. Feel confident knowing your money is safe and earning interest daily.