Business

IMPORTANT INFORMATION ABOUT OPENING A LEGAL ENTITY ACCOUNT

Effective May 11, 2018, new rules under the Bank Secrecy Act will aid the government in the fight against crimes to evade financial measures designed to combat terrorism and other national security threats.  

EACH time an account is opened for a covered Legal Entity, we are required to ask you for identifying information (name, address, date of birth, social security number as well as identification documents) for:

  • Each individual that has beneficial ownership (25% or more); and,
  •  One individual that has significant managerial control of the Legal Entity.

If you are opening an account on behalf of a Legal Entity, you will be required to provide the appropriate documentation and to certify that this information is true and accurate to the best of your knowledge.

We proudly support all efforts to protect and maintain the security of our customers and our country.

Merchant Services

Small business owner using a device

Security Federal's Visa/MasterCard Merchant program has proved to be a great success. This program is a service we added in order to better serve our commercial customers. 

Security Federal has partnered with Payment Express Systems for our Merchant Program. By doing so we are able to offer competitive rates and quality service. 

Payment Express Systems provides authorization, capture, and settlement of credit and debit transactions. They also offer check guarantee, gift card programs, and an Internet Solution. 

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