What you need before you start

American Express Bank offers business checking accounts directly through their website and phone line. To open one, you will need to provide your business structure (sole proprietorship, LLC, S-corp, or C-corp), an Employer Identification Number (EIN) or Social Security Number, and basic business information including your business name, address, and the nature of your business.

You will also need a valid government-issued ID and a way to verify your identity during the process process. If your business is registered in a state different from where you operate, have that documentation ready. The entire process typically takes 10 to 15 minutes online, though final account set up can take one to three business days after submission.

American Express does not require a minimum opening deposit, though you will need to fund the account within a certain timeframe after opening to set up it. Check their current terms when you begin, as requirements can shift.

Key Takeaways

  • You can open an American Express business checking account online or by phone without visiting a branch.
  • You will need your EIN or SSN, business registration documents, and a government-issued ID to complete the process.
  • The process takes 10 to 15 minutes, but the account becomes fully active one to three business days later.
  • American Express does not require a minimum opening deposit, but you must fund the account within the set up window.
  • Business checking accounts from American Express include online banking, bill pay, and mobile deposit, with no monthly maintenance fees on many account types.

Step-by-step process process

Start by going to the American Express Bank website and selecting the business checking option. You will be asked to choose your business structure first—this determines what documents and identification numbers you will need to provide. Select the structure that matches your actual business registration.

Enter your business name, address, and the primary contact person's information. Then provide either your EIN (if your business has one) or your Social Security Number. American Express will ask for details about your business type, annual revenue range, and expected monthly transaction volume. Answer these honestly, as they help determine account features and any credit decisions.

Next, you will verify your identity by uploading a photo of your government-issued ID—a driver's license, passport, or state ID card. American Express may also ask you to answer security questions based on your credit history to confirm your identity. Once you submit the process, you will receive a confirmation number and timeline for set up.

What happens after you submit

American Express reviews your process within one business day. During this time, they conduct a background check and verify the information you provided. You will receive an email confirmation once the review is complete, along with your account number and routing number.

You then have a set window (usually 30 days) to make your first deposit to set up the account. You can deposit funds via ACH transfer from another bank account, wire transfer, or mobile deposit once the account is active. Until you fund the account, it remains open but inactive and you cannot use the debit card or online banking features.

Once your deposit clears, your account is fully active. American Express will mail you a debit card and checks if you requested them. The debit card typically arrives within 7 to 10 business days. You can begin using online banking and bill pay when ready after set up, even before the physical card arrives.

Documents you may need to upload

The documents required depend on your business structure. Sole proprietors typically need only their Social Security Number and government ID. LLCs and partnerships need their Articles of Organization or partnership agreement, along with an EIN letter from the IRS (or proof of EIN process).

S-corps and C-corps need their Articles of Incorporation, EIN letter, and sometimes a corporate resolution authorizing the account opening. If your business operates under a name different from your legal name, you may need to upload a DBA (Doing Business As) certificate or fictitious name registration from your state.

American Express will tell you exactly which documents are required for your structure during the process. If you are missing something, they will let you know before you submit, so you can gather it first rather than having your process delayed.

Account features and what they cost

American Express business checking accounts include online banking, mobile app access, bill pay, and mobile deposit at no monthly maintenance fee on standard accounts. You get a debit card, checks, and the ability to set up multiple user accounts for employees. Wire transfer capabilities are available, though American Express charges a fee for outgoing wires (typically $15 to $25, depending on the wire type).

Incoming ACH transfers and wire transfers are free. There is no fee for overdrafts if you have overdraft protection linked to another account, but if you overdraw without protection, American Express charges an overdraft fee. ATM withdrawals at American Express ATMs are free; withdrawals at other ATMs may incur a fee depending on the ATM network.

Interest rates on business checking balances vary and are typically low. American Express publishes current rates on their website. Some account tiers offer higher interest rates if you maintain a minimum balance, though this is not required to open the account.

If your process is denied or delayed

American Express may deny your process if there are issues with your identity verification, if your business structure cannot be confirmed, or if there are concerns about your banking history. If this happens, you will receive a letter explaining the reason. You can contact American Express to ask whether you can reapply or provide additional information.

Delays sometimes occur if documents are unclear or if the IRS has not yet processed your EIN process. If you applied with an EIN that is still pending, you may need to reapply once the IRS issues your official EIN letter. American Express will tell you if this is the case.

If you are denied, you can explore other business checking options. Many regional banks and online banks have less stringent verification requirements, though they may charge monthly fees or require minimum balances.

Using your account once it is active

Once your account is fully activated, you can log into American Express online banking to view transactions, set up bill pay, and manage user accounts. The mobile app offers the same features plus mobile deposit, which lets you photograph checks and deposit them without visiting a branch or ATM.

Bill pay allows you to schedule one-time or recurring payments to vendors, employees, or service providers. Payments typically process within one to three business days depending on whether you send them electronically or by check. You can also set up automatic transfers between your American Express account and other accounts you own.

American Express provides detailed transaction history and the ability to read statements in multiple formats. You can reconcile your account in accounting software like QuickBooks by connecting your account directly or by downloading transactions as a CSV or OFX file.

Frequently Asked Questions

Can I open an American Express business checking account if I am a sole proprietor with no EIN?

Yes. Sole proprietors can use their Social Security Number instead of an EIN. You will still need to provide your business name, address, and the nature of your business, along with a government-issued ID for verification.

How long does it take to receive my debit card and checks?

Debit cards typically arrive within 7 to 10 business days after your account is activated. Checks take longer—usually 10 to 15 business days. You can begin using your account for online transfers and bill pay before the physical items arrive.

What if I need to add another person to the account?

You can add authorized users or signers through online banking once your account is active. Additional signers may need to provide their own identification and go through a verification process. American Express will outline the requirements when you request to add someone.

Does American Express offer business savings accounts or money market accounts?

American Express Bank offers both business savings and money market accounts in addition to checking. These accounts have different interest rates and may have restrictions on the number of withdrawals per month. You can open these alongside your checking account or separately.

What should I do if I forgot my online banking password?

Use the "Forgot Password" link on the American Express login page. You will be asked to verify your identity using your account number and other information. A password reset link will be sent to the email address on file. If you cannot reset it online, call American Express customer service for information.