Yes, you can open a business bank account online, but the process depends on your business structure and the bank

Many banks let you start a business account process online and finish it without visiting a branch. However, most banks still require you to verify your identity in person or through a video call before the account becomes active. Some online-only banks and credit unions have streamlined this further and can complete the entire process remotely, though they tend to have fewer services than traditional banks.

The key difference is between starting the process online (which almost all banks allow) and completing it entirely online (which fewer banks offer). Understanding what your bank requires before you begin saves time and prevents frustration.

Key Takeaways

  • Most traditional banks let you fill out a business account process online but require in-person or video verification before opening the account.
  • Online-only banks and some credit unions can complete the entire process remotely, though they may offer fewer services than brick-and-mortar banks.
  • You will need your Social Security number or EIN, business license or formation documents, and a government-issued ID regardless of which bank you choose.
  • The verification step typically takes a few days to a week, and your account may not be fully active until the bank confirms your identity.

What banks require before you start an online process

Before opening any business account online, gather these documents: your Social Security number or Employer Identification Number (EIN), proof of your business structure (articles of incorporation, LLC formation papers, or a DBA certificate), and a government-issued photo ID. If your business is brand new and you have not yet registered it with your state, some banks will still open an account under your personal name as a sole proprietor.

Have your business address ready, even if it is your home address. Banks also ask for your expected monthly deposit volume and the types of transactions you plan to make. This information helps them assign you to the right account tier and flag any unusual activity later.

How the online process process typically works

The process itself usually takes 10 to 20 minutes. You enter your business name, structure, and ownership information on the bank's website or app. The bank pulls your personal credit report and checks you against fraud databases. At this point, the process pauses.

Next comes verification. Traditional banks usually send you a link to a video call with a bank representative, who asks you to show your ID and confirm the information you entered. Some banks mail you a verification code or ask you to visit a branch with your documents. Online-only banks often use automated video verification, where you record yourself holding your ID and answer security questions, and the system checks your face against your ID photo.

Once verification is complete, the bank funds your account and sends you login credentials. This final step can take anywhere from same-day to five business days, depending on the bank's processing speed.

Banks that complete the entire process online

A few banks and fintech companies let you finish everything remotely without a branch visit or live video call. Lemonade, Mercury, and Brex are fintech platforms designed for small business and use automated video verification. Square Cash for Business and PayPal Business offer simplified online accounts, though they function more like payment processors than full banks.

Some credit unions, particularly those that participate in shared branching networks, also allow fully remote account opening. Check whether your state's credit union system offers this option. The trade-off is that these services often have lower transaction limits, fewer physical locations, and fewer services like business loans or merchant services compared to traditional banks.

What still requires a branch visit or video call

Most traditional banks — Chase, Bank of America, Wells Fargo, and regional banks — require identity verification before your account is active. This is a regulatory requirement under the Bank Secrecy Act, which mandates that banks verify who they are doing business with.

The verification step cannot be skipped, but the method varies. Some banks offer a video appointment with a banker at a scheduled time. Others let you visit any branch with your documents. A few mail you a verification code to confirm your address. Call the bank's business line or check their website to see which method they use before you start the process.

Timeline from process to usable account

If you choose a bank with fully remote verification, you may have a usable account within 24 hours. Most traditional banks take three to seven business days from the time you complete verification. The slowest part is usually the verification step itself — if the bank is busy, scheduling a video call can add a few days.

Once your account is open, you can usually deposit checks and make transfers when ready. However, some banks place a hold on your first few deposits or limit your daily transfer amounts until you have had the account for 30 days. Ask about this when you verify your identity so you are not caught off guard.

Documents you will need to upload or show

Have these items ready before you start the process. You will need a clear photo of your government-issued ID (driver's license, passport, or state ID card). You will also need your business formation documents — if you formed an LLC, have your articles of organization; if you incorporated, have your articles of incorporation; if you are a sole proprietor, you may only need your personal ID.

If you registered a DBA (doing business as) name with your county or state, bring that certificate. Some banks also ask for a recent utility bill or lease to confirm your business address. If someone other than you will have signing authority on the account, the bank will need their ID and signature as well.

Frequently Asked Questions

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

Yes. Many banks will open an account under your personal name as a sole proprietor while you are still setting up your business structure. Once you register your LLC or corporation, you can update the account name with the bank. Some banks require you to provide your formation documents within 30 days of opening the account.

What if I do not have an EIN yet?

You can use your Social Security number instead. If your business is a sole proprietorship, you do not need an EIN at all. If you are forming an LLC or corporation, you can explore for an EIN from the IRS website before opening the account, or you can open the account with your Social Security number and add the EIN later once you receive it.

Do I have to do a video call to open the account?

Not necessarily. Some banks offer video verification, others mail a code, and some let you visit a branch. A few online-only banks use automated video verification where you record yourself, not a live call. Check your bank's website or call their business line to see which methods they accept.

How long does the verification step take?

If you schedule a video call when ready, verification can happen the same day. If the bank is busy, you might wait a few days for an appointment. Automated video verification usually processes within 24 hours. Once the bank confirms your identity, your account typically becomes active within one to three business days.

Can someone else open the account on behalf of my business?

No. The person who verifies their identity becomes the account owner or authorized signer. If you want another person to have signing authority, they will need to go through their own verification process or sign a power of attorney document that the bank accepts.