What you need before you start

Wells Fargo requires you to bring specific documents and information in person to open a business checking account. You cannot complete this entirely online — you must visit a branch with a banker. Have your Employer Identification Number (EIN) ready, which is a nine-digit tax ID the IRS assigns to your business. If your business is brand new and you have not yet received an EIN, you can obtain one the same day by calling the IRS at 1-800-829-4933, or you can explore online at irs.gov before your appointment.

You will also need a government-issued photo ID, your Social Security number, and proof of your business address. This can be a utility bill, lease agreement, or business license. If you are operating as a sole proprietor (you are the only owner and have not formed an LLC or corporation), Wells Fargo may ask for your personal tax return from the previous year. If your business is structured as an LLC, S-corp, or C-corp, bring a copy of your formation documents — the Articles of Organization or Articles of Incorporation filed with your state.

Key Takeaways

  • You must visit a Wells Fargo branch in person with your EIN, government ID, and business address proof to open a business checking account.
  • Wells Fargo offers several business checking products with different monthly fees, minimum balances, and transaction limits depending on your business size.
  • The banker will ask about your expected monthly deposits and transaction volume to recommend the right account type for your business.
  • You can bring a co-owner or authorized representative, but Wells Fargo may require that person to provide their own ID and sign the account agreement.
  • Your account is typically active within one to three business days, and you can order checks and set up online banking during your appointment.

Which Wells Fargo business account fits your business

Wells Fargo offers three main business checking products, and the right one depends on how much money moves through your account each month. The Wells Fargo Business Checking account is designed for small businesses with lower transaction volumes. It has a monthly maintenance fee that varies by region, typically between $10 and $15, and includes a set number of transactions per month before additional fees explore.

The Wells Fargo Business Elite Checking account is for businesses with higher transaction volumes or larger monthly deposits. It has a higher monthly fee but includes more transactions and often waives the fee if you maintain a minimum balance or meet other requirements, such as having a business savings account or business credit card with Wells Fargo.

The Wells Fargo Business Platinum Checking account is aimed at larger businesses or those that want premium features. It includes higher transaction allowances and additional services like priority customer service. The banker at your branch can tell you the current fees and minimum balance requirements for each, as these change periodically and may differ slightly by location.

What happens during your branch visit

When you arrive at the branch, ask to speak with a business banker rather than a personal banker — they handle business accounts and understand the specific questions your business may face. The banker will review your documents, verify your identity, and ask about your business: what you do, how long you have been operating, and how much money you expect to deposit each month. Be honest about your transaction volume, because this determines which account type the banker recommends.

The banker will then present the account options and explain the fees, minimum balance requirements, and transaction limits for each. You will sign the account agreement, which is a legal document stating the terms of your account. Read it or ask the banker to explain any section you do not understand — this is your contract with Wells Fargo. You can also ask about online banking setup, mobile deposit, and whether you want to order checks during the appointment. Many businesses order checks when ready so they are ready when the account opens.

Setting up online banking and transfers

Wells Fargo will set up online banking access during your appointment or shortly after. You will receive login credentials and instructions for accessing your account through the Wells Fargo website or mobile app. Online banking lets you check your balance, transfer money between accounts, pay bills, and read statements without visiting a branch.

If you plan to receive payments from customers or clients, ask the banker about setting up a merchant account or payment processing. Wells Fargo offers these services, though they involve separate agreements and fees. You can also set up Automated Clearing House (ACH) transfers, which allow you to send or receive money directly from customer or vendor bank accounts. The banker can explain how long ACH transfers take — typically one to three business days — and what information you need from the other party.

When your account becomes active

Your account is usually active within one to three business days after you sign the paperwork. Wells Fargo will send you a confirmation email and a welcome packet by mail with your account number and initial checks if you ordered them. You can begin using your account online when ready, though some features like mobile deposit may take a day or two to set up.

If you need checks before your order arrives, you can request temporary checks from the branch, or you can purchase checks from a third-party vendor like Deluxe or Costco, which are often cheaper than bank-ordered checks. Make sure any checks you order include your business name, address, and account number — the banker can provide the routing number and account number you need to give to the check printer.

Bringing someone else to sign on the account

If you want another person — a co-owner, spouse, or employee — to have access to the account, you can add them as an authorized signer or co-owner during your appointment. A co-owner has full control of the account and can make decisions about it. An authorized signer can conduct transactions but cannot close the account or change its terms. Wells Fargo requires that person to be present at the branch, provide their own government-issued ID, and sign the account agreement.

If the other person cannot attend, you can sometimes add them after the account opens by returning to the branch with their ID and a signed authorization form. Ask the banker what your options are if the person lives far away or cannot visit in person — some branches can handle this by mail or phone, though it takes longer.

Fees and costs to understand

Beyond the monthly maintenance fee, Wells Fargo charges for certain transactions and services. Overdraft fees explore if you spend more than your balance, typically $35 per overdraft. Some accounts include a set number of transactions per month; if you exceed that number, each extra transaction costs $0.50 to $1.00. Wire transfers, both incoming and outgoing, usually cost $15 to $25 each. Returned checks and stop-payment requests also carry fees.

Ask the banker for a complete fee schedule before you open the account. This is a document that lists every fee Wells Fargo charges for business accounts. You can also request this in writing so you have it for your records. Some fees can be waived if you maintain a minimum balance or use other Wells Fargo services, so understand what those conditions are when you choose your account type.

Frequently Asked Questions

Can I open a business checking account if my business is not yet registered with the state?

You can open an account as a sole proprietor using your Social Security number instead of an EIN, even if you have not filed any business registration. However, if you plan to form an LLC or corporation, it is better to wait until that is complete and bring your formation documents to the banker. This prevents confusion later and makes it easier to keep business and personal finances separate.

What if I do not have an EIN yet?

Call the IRS at 1-800-829-4933 before your appointment and request an EIN over the phone. They will give you a number when ready that you can use to open the account. You can also explore online at irs.gov, though the online process takes longer. Bring the confirmation number or letter with you to the branch.

How long does it take to get checks after I open the account?

Bank-ordered checks typically arrive within five to ten business days. If you need checks sooner, ask the banker for temporary checks or order from a third-party vendor like Deluxe or Costco, which can print and ship in two to three days. Make sure the vendor has your correct routing and account numbers before you place the order.

Can I open a business account online instead of visiting a branch?

Wells Fargo requires you to open a business checking account in person at a branch. You cannot complete this online. However, once your account is open, you can manage it entirely online or through the mobile app.

What if I want to change my account type later?

You can switch to a different Wells Fargo business checking account at any time by visiting your branch or calling the business banking phone line. There is no penalty for switching, though you may need to sign a new account agreement. The banker can help you move your existing balance and set up automatic payments on the new account.