Our Business Account Opening product provides your applicants with a simple flow that includes information entry, document upload, funding, and identity decisioning.
To manage pending or submitted applications, from the Narmi Command sidebar, select Account opening > Applications.
Open a New Business Account
To open a new business account from a web browser:
1. Welcome
Applicants start at your financial institution's business account opening page. This URL varies by institution, so please contact your Narmi Relationship Manager to discuss setting up and accessing your URL.
Applicants enter their first name, last name, and email address, then select Get started. (The email address must be 36 characters or less.)
Those who already started an application can select Continue it now to return to their application.
Your institution can opt to include a CAPTCHA box for human verification at the bottom of the welcome page. You can turn this box on or off in Narmi Command under Configurations > Institution Settings > Ask Additional Fields > Business Account Opening tab > CAPTCHA.
2. Verification Code
We verify identity by sending a verification code to the email address entered. The code expires after 10 minutes.
Enter the code and select Next.
3. Eligibility
A page with eligibility questions appears. The first question asks whether the business has opened an account with your institution before. If the answer is Yes, and the applicant is eligible for an account per their answers to the other questions, they will be taken through the existing user flow. If the answer is No, they will continue through this new user flow. If the applicant forgets they already have an existing business account and answers No to the first question, when they enter the EIN (Employer Identification Number) in step 7, we check if they are an existing user and direct them to the existing user flow. This allows us to avoid creating duplicate business accounts.
Your institution can customize the eligibility questions, but we recommend not changing the first question. Please contact your Narmi Relationship Manager to customize these questions. For more information, go to Eligibility Questions.
After answering all questions, select Next.
4. Document Checklist
If the applicant is eligible, a dialog appears with information about what is required for the application. Your institution can customize the descriptions of the items in this list by contacting your Narmi Relationship Manager. For information on document upload, go to step 8.
Select Next.
5. Business Type
On the Business type page that opens, the applicant can select the business type that applies to them. The steps involved in the application display on the left sidebar so the applicant can see their progress.
Sole proprietor – For independent businesses where the user has not registered their business with the state and they're the only owner. This includes Doing Business As (DBAs) or non-DBAs.
Limited liability company (LLC), General partnership, or Corporation – For businesses or companies where users have registered the business with the state. They have certified documents, and their business may have more owners than just them.
Non-profit – For non-profit businesses
After choosing a business type, select Next.
6. Business Details
For sole proprietors, the next page asks whether or not they are a DBA (Doing Business As). A DBA allows business owners to conduct business under a business name instead of their legal name. Select Yes or No, then Next.
Next, a form specific to the selected business type appears for the applicant to enter personal and business details. This page includes the following fields.
Business Details for sole proprietors, DBA or non-DBA
First name and Last name (auto-populated)
DBA Name (if applicable)
Social Security Number or ITIN (Individual Taxpayer Identification Number)
Date of birth (MM/DD/YYYY)
Business name – Your institution can opt to have non-DBAs enter a business name. This can be enabled in Narmi Command under Configurations > Institution settings > Ask additional fields > Non-DBA Business Name. By default, if the sole proprietor is not a DBA, we do not show the Business Name field.
You can also enforce character limits for business names to comply with any core requirements for business name length. This can be configured under Configurations > Institution settings > AO Character Limits.EIN (Employer Identification Number) – Optional
Ownership percentage – Percentage of ownership in the business
Email address – This is auto-populated based on the email address entered in step 1 and cannot be changed once verified. We encourage applicants to update their email address via Digital Banking or by contacting your institution.
Phone number
Industry – Select your business’ six-digit North American Industry Classification System (NAICS) code from a list categorized by industry. The entered NAICS code is passed to Alloy.
Physical address – The residential address
Mailing address – Your institution can opt to have the mailing address separate from the residential address. This is configured in Configurations > Institution settings > Has Mailing Address. This adds a Mailing address is the same as your residential address box, which is selected by default if added. Clearing the box opens a form to enter a different mailing address.
Note: Different mailing and residential addresses are only supported on the following cores: Symitar, IBS, DNA, Corelation, Silverlake, and Enterprise Service Bus (ESB).
If you would like to allow applicants to use P.O. boxes for mailing addresses, you can enable this in Configurations > Institution settings > Edit Allow P.O. boxes as mailing addresses for Digital Account Opening (DAO). Note: Support for P.O. boxes differs depending on your core and how it is configured. Please contact your Narmi Implementation Manager for more information.Add an authorized signer – Sole proprietors can select Add an authorized signer to add an additional owner/partner who is an authorized signer, meaning they are legally permitted to spend or commit monies on behalf of the business. Authorized signers are created at the account level, so this is the opportunity for business owners to add any signers. Once added, select Remove to remove the signer. Applicants can review authorized signer information in the Review step. The following fields must be completed when adding an authorized signer:
First name
Last name
Social Security Number/ITIN
Date of birth (MM/DD/YYYY)
Email
Phone number
Address
Business Details for LLCs, general partnerships, corporations, or non-profits
Business name – You can enforce character limits for business names to comply with any core requirements for business name length. This can be configured in Narmi Command under Configurations > Institution settings > AO Character Limits.
Assumed Business Name (optional) – The assumed business name is also known as a DBA (Doing Business As) and should be registered with the appropriate state or local government to comply with legal requirements. This is an optional field for LLCs and corporations that can be enabled in Narmi Command by selecting Configurations > Institution settings > Ask additional fields > Business Account Opening tab > Assumed Business Name.
Phone number
Email address
Website (optional) – This is an optional field that can be enabled in Narmi Command by selecting Configurations > Institution settings > Ask additional fields > Business Account Opening tab > Website.
Physical address – The residential address. The Mailing address is the same as my physical address box is selected by default. Clear the box to open a form where you can enter a different mailing address.
Business details:
Date of organization/partnership/incorporation – This date defaults to the format “MM/DD/YYYY.” You can opt to collect this date in the shortened format “MM/YYYY" to improve application completion rates. You can enable setting this in Narmi Command under Configurations > Institution settings > Ask additional fields > Business Account Opening > Short date of incorporation. After this setting is enabled, all previous applications will also display in the format “MM/YYYY.”
State of organization/partnership/incorporation
Tax ID or EIN (Employer Identification Number)
Industry – Select your business’ six-digit North American Industry Classification System (NAICS) code from a list categorized by industry. The entered NAICS code is passed to Alloy.
Select Next to continue.
7. Ownership
The ownership page does not appear for sole proprietors. This page provides separate sections to enter the primary applicant’s details and additional stakeholder details.
Your Details
Select Add next to Your details to open a side panel with the following fields:
Role – Select one or more of the following roles:
Authorized signer – This role is legally permitted to spend monies on behalf of the business. Primary business applicants must be an authorized signer, so this is pre-selected for the primary business applicant.
Beneficial owner (not applicable to non-profits) – Beneficial owners must own 25% or more of the business.
Control person – This role has the ability to control, manage, or direct the business. To comply with Bank Secrecy Act (BSA) regulations, there must be at least one control person indicated to proceed with the application.
First name and Last name (auto-populated)
Social Security Number/ITIN (Individual Taxpayer Identification Number)
Ownership percentage – Percentage of ownership in the business.
For corporations or LLCs, your institution can set the percentage at which owners are required to be reported on the application. This setting is in Narmi Command under Configurations > Institution settings > Minimum ownership percentage LLC or Minimum ownership percentage corporation. The default is 25% for both types. Note: It is recommended to keep this setting at 25% in order to comply with the BSA regulation. Additionally, we do not check the minimum ownership percentage for authorized signers or control persons. We only have that check in place for beneficial owners because the Beneficial Ownership Regulation requires those owners to be declared.
Job title – If your institution would like to enable the "Job title" field, go to Narmi Command > Configurations > Institution settings > Ask additional fields > Business Account Opening tab > turn on Role toggle.
Date of birth (mm/dd/yyyy)
Email – This is auto-populated based on the email address entered in step 1 and cannot be changed once verified. We encourage applicants to update their email addresses via Digital Banking or by contacting your institution.
Phone
Residential address – The Mailing address is the same as my physical address box is selected by default. Clear the box to open a form where you can enter a different mailing address.
Additional Stakeholder(s)
The primary applicant can select Add next to Additional stakeholders to add another owner/partner to the application. A side panel opens with two options:
Complete now – Enter the stakeholder’s information yourself
Send to the person to complete – Send a form to the stakeholder so they can input their own information. This is an optional feature; please contact your Narmi Relationship Manager to turn this on.
Complete Now
If the primary applicant selects Complete now, they must enter the following stakeholder information and select Save:
Role – Select one or more of the following roles:
Authorized signer – This role is legally permitted to spend monies on behalf of the business.
Beneficial owner (not applicable to non-profits) – Beneficial owners must own 25% or more of the business.
Control person – This role has the ability to control, manage, or direct the business. To comply with BSA regulations, there must be at least one control person indicated to proceed with the application.
First name and Last name
Social Security Number/ITIN (Individual Taxpayer Identification Number)
Ownership percentage – Percentage of ownership in the business.
For corporations or LLCs, your institution can set the percentage at which owners are required to be reported on the application. This setting is in Narmi Command under Configurations > Institution settings > Minimum ownership percentage LLC or Minimum ownership percentage corporation. The default is 25% for both types. Note: It is recommended to keep this setting at 25% in order to comply with the BSA regulation. Additionally, we do not check the minimum ownership percentage for authorized signers or control persons. We only have that check in place for beneficial owners because the Beneficial Ownership Regulation requires those owners to be declared.
Job title – If your institution would like to enable the "Job title" field, go to Narmi Command > Configurations > Institution settings > Ask additional fields > Business Account Opening tab > turn on Role toggle.
Date of birth (mm/dd/yyyy)
Email – This is auto-populated based on the email address entered in step 1 and cannot be changed once verified. We encourage applicants to update their email addresses via Digital Banking or by contacting your institution.
Phone
Residential address –The Mailing address is the same as my physical address box is selected by default. Clear the box to open a form where you can enter a different mailing address.
Send to the Person to Complete
If the primary applicant selects Send to the person to complete, they must enter the stakeholder’s first name, last name, email, and ownership percentage and select Save. The additional stakeholder then receives an email with a link to complete their information. The link expires after 72 hours. The primary applicant can immediately finish and submit the application or wait until all stakeholders have completed their information. The primary applicant will be notified when each stakeholder has completed their information, as well as when all stakeholders have completed their information. At that time, if the primary applicant has already submitted the application, no action is needed.
Go to End-User Communications - Business Ownership for complete details on the emails we send and how to configure.
Additional Stakeholder(s) Form
The additional stakeholder email link directs them to a form where they select Get started to complete their information. The link expires after 72 hours.
Enter details on the next page and select Finish.
Review and Submit
The primary applicant will be notified via email when each stakeholder has completed their information, as well as when all stakeholders have completed their information. The link in the email directs the primary applicant to the Ownership page, where they can continue the application steps and submit it if needed.
Additional Stakeholder Reminders
Primary applicants can send a reminder email to additional stakeholders once their application is submitted. To do this, they must return to their application by selecting Continue it now on your financial institution's business account opening page. Once they verify their identity, they can select Send a reminder.
Your institution’s staff members can also send a reminder to additional stakeholders from Narmi Command. Go to Account opening > Applications > select the application. In the side panel, scroll to the Ownership details section and select the email icon. On the confirmation dialog, select Send reminder.
To configure the reminder email, follow the instructions at End-User Communications - Business Ownership.
Applicants must select the ownership acknowledgment box at the bottom of the Ownership page to confirm that information on all beneficial owners has been included in the application. The applicant cannot proceed to the next step unless they select this box. Note: The ownership acknowledgement box does not apply to non-profits.
Select Next to continue.
8. Documents
At this point, we check whether the Tax ID/EIN entered in business details already exists in our database or the core. If the Tax ID/EIN does not exist in our database or the core, the applicant must upload business documents.
You can customize the document type, number of documents, document names, and description text shown on the "Upload your business documents" page by contacting your Narmi Relationship Manager.
Note: Only one file can be uploaded per document, so if there are multiple files—such as two PDFs—the applicant must combine them into one file. Maximum file size is 2.5 MB.
By default, the documents by business type are:
LLC – Two documents, one required and one optional; default names are "Articles of Organization" (required) and "EIN Verification Letter" (optional)
General Partnership – One document is required; the default name is "Business Registration"
Corporation – One document is required; the default name is "Business Registration"
Sole Proprietor (DBA) – One document is required; the default name is "DBA Certificate"
Sole Proprietor (not a DBA) – No documents required
Non-profits – Three documents are required; default names are: “Articles of Incorporation,” “EIN Verification Letter,” and “Non-profit Bylaws”
Uploaded Business Documents
When a user uploads business documents, they are sent via SFTP to your institution by Narmi. Our Implementations team sets up SFTP during onboarding. For more information, go to SFTP Setup (this article is only visible to Narmi clients with a help center client login. For instructions on how to create a help center login, go to Onboarding for Success).
The file is received by your institution via an SFTP URL ending in the format {core_user_ids[0]}-%m%d%Y-{type}.pdf. The values for the URL are:
core_user_ids[0] – The core user ID of the applicant
%m%d%Y – The last updated time of the application
type – The type of the document (available types are listed in step 8 above)
After application submission, your staff can view these documents in Narmi Command under Applications.
After uploading, select Next.
9. Confirm Account
If the Tax ID/EIN entered in business details already exists in our database or the core, the following page appears. This provides a streamlined process for the applicant to continue applying. 
Once they select Continue my application, we send a verification code to the core-provided email and redirect the applicant to a page where they can enter the code. If the code is correct, a page appears to confirm the account information before proceeding to account selection in step 10.
10. Account Selection
On the Choose your accounts page, the applicant selects which of your institution’s products they want to open, such as Checking, Savings, or Certificates of Deposit. To customize the product offerings at your financial institution, including restrictions on the number of products that can be opened, required products, recommended products, and hidden products, please contact support@narmi.com.
Select Next.
11. Account Activity
If configured by your institution, the Account activity page contains a list of customer due diligence questions for the applicant to answer. These custom questions allow you to capture an applicant’s intended usage of their accounts and help you build a risk profile for the account/applicant. For example, “Do you intend to send wire transfers from this account?”
You can configure these questions (which can be yes/no, open input, or dropdown) in Narmi Command under Configurations > Institution settings > Customer Due Diligence Business Questions. For more information, go to Account Activity Questions. These questions can also be product-specific, depending on which product(s) the applicant selects on the Account Selection page. Go to Product-Specific Account Activity Questions for details.
Select Next.
12. Funding
Next, applicants choose a funding method—either link an external bank account or a debit/credit card. To enable/disable ACH or card funding, please contact your Narmi Relationship Manager.
Option to Skip Funding
You can give your applicants the option to skip funding during the Funding step. If this setting is turned on, applicants who select account types with a $0 minimum balance amount see “Do you want to fund your account now?” and can select No to skip funding. If the applicant selects Yes, options for funding appear. If the applicant selects multiple products and at least one does not have a $0 minimum balance, they will see the funding screen, and this question is hidden. In this case, the applicant can choose to keep the funding amount as $0 for the account(s) with a $0 minimum balance. Please contact your Narmi Relationship Manager to turn on the setting to skip funding for your users.
In the "Choose a funding method" section:
To fund with a bank account by logging in, select Log in with your bank and follow the prompts to enter your banking credentials. Go to Instant Account Verification for more information.
To fund with a bank account by manually entering account information, select Manually link a bank account. Enter the routing and account numbers, and select the account type. External account numbers are limited to 17 characters.
Note: The Electronic Funds Transfer (EFT) Agreement disclosure displays by default when applicants link their bank account. You can opt to remove the EFT Agreement disclosure in Narmi Command under Configurations > Institution settings > Ask additional fields > Business Account Opening > Remove Electronic Funds Transfer Agreement text.
To fund with a card, select Use a credit/debit card and enter the card information.
The selected account information appears onscreen with an option to edit the account details.
Next, below the funding method, enter the amount of funding for each new account. Amounts must be entered in $0.25 increments. Your institution can customize minimum balances and maximum funding limits by product. Please contact support@narmi.com for assistance with setting the minimum balances and funding limits. For information on funding limits, go to Funding Limits.
Select Next.
13. Disclosures
The Review disclosures page can vary by financial institution, and there may be multiple sections. You can configure disclosures in Narmi Command under Configurations > Institution settings > Business Account Opening Disclosures.
Check the boxes to accept the disclosures and select Next.
14. Review
The final step is a review of the completed application before submitting it. Applicants can select Edit to update any information or select Submit application to complete.
If the application is successful, a summary of the opened accounts and initial funding appears. A confirmation email is sent to the applicant. For more information on the emails sent and how to customize, go to End-User Communications.
If your institution uses Narmi for Digital Banking, applicants can select Enroll in online banking to create a user profile.
If your institution would like to hide the account number and routing number on the Approval page, go to Narmi Command under Institution Settings > Approved screen show account information, and set it to False.
If additional documents are required, instead of the approval page, the applicant is prompted to take a photo of their government-issued ID as well as a selfie. This flow occurs only for institutions integrated with Vouched. Go to Application Statuses for more information about the Docs Requested flow.
Continue a Business Application
Users can easily continue a business application at the step where they left off without having to re-enter their information.
To continue an application:
From the account opening URL, select Continue it now.
Enter the email address used to start the application and select Next.
Verify the email address by entering the verification code sent to the trusted device and selecting Next.
The application in progress appears. Select Next to continue applying.
