What you need before you walk in

A business bank account requires proof that your business exists as a legal entity separate from you personally. The bank needs to see that you are who you say you are, that your business is real, and that you have the right to control the account. The exact documents depend on your business structure — sole proprietorship, LLC, corporation, partnership — and the bank you choose.

Start by gathering your Employer Identification Number (EIN). If you are a sole proprietor, you can use your Social Security number instead, but an EIN keeps your personal and business finances separate in the IRS system. You can get an EIN free from the IRS website in minutes, or by phone, or by mail. Most banks will not require it for a sole proprietorship, but having one makes the account cleaner and is worth the five minutes it takes.

Next, bring a government-issued photo ID — a driver's license or passport. Bring your Social Security number or EIN. Bring proof of your business address: a utility bill, lease, or mortgage statement in the business name, or a recent piece of mail sent to that address. If your business is brand new and you do not have mail yet, a signed lease or a utility bill process will work.

Key Takeaways

  • You need a government ID, proof of business address, and either your Social Security number or an EIN; the exact documents vary by bank and business structure.
  • Sole proprietors can open an account with just a Social Security number, but an EIN (free from the IRS) keeps business and personal finances separate.
  • LLCs and corporations require articles of organization or incorporation, which you receive when you register the business with your state.
  • The account opens the same day you visit in person, though some banks offer online opening for sole proprietors and may take one to two business days to verify.
  • Bring originals or certified copies of business documents; banks will not accept photos or scans for the initial opening.

What documents each business structure needs

Sole proprietors need the least. Bring your ID, Social Security number or EIN, and proof of address. Some banks ask for a business license if your state or city requires one for your type of work — check your local requirements before you go. If you operate under a name other than your legal name (a "doing business as" or DBA), bring the DBA registration from your county or state.

LLCs need the articles of organization. This is the document you filed with your state when you created the LLC. Bring the original or a certified copy from your state's Secretary of State office. Bring your ID and the EIN. The bank may ask for an operating agreement, which is the internal rules document for the LLC; if you have one, bring it, but many banks do not require it for account opening.

Corporations need the articles of incorporation, which is what you filed with your state to create the corporation. Bring the original or a certified copy. Bring your ID, the EIN, and a corporate resolution authorizing the account opening — this is a document signed by the board or the owner stating that the corporation authorizes this person to open and manage the account. Some banks provide a template; ask when you call to schedule.

Partnerships need the partnership agreement and proof that the partnership is registered with the state (if your state requires it). Bring your ID and the EIN. The bank will ask which partners can sign checks and withdraw money; be ready to name them.

In-person opening versus online opening

Most banks let sole proprietors open online, but the process is slower and has more friction. You upload photos of your ID and proof of address, enter your information, and the bank verifies it over one to two business days. You cannot deposit checks or use the account until verification is complete. If anything looks wrong — a blurry photo, an address that does not match your ID — the bank will ask you to resubmit, which adds another day or two.

Opening in person is faster and cleaner. You bring the originals, the banker verifies them on the spot, and the account is active the same day. You walk out with a debit card or a temporary card number, and you can start using the account when ready. For LLCs and corporations, in-person opening is usually the only option, though a few large banks now offer online opening for LLCs if you have the articles of organization in digital form.

If you are opening remotely — you live far from a branch — call the bank and ask whether they can do a video verification. Some banks will open the account over video if you hold your documents up to the camera and answer security questions. This is faster than mailing documents but slower than in-person.

What happens during the account opening appointment

The banker will verify your identity by checking your photo ID against your face. They will confirm your address by looking at the utility bill or lease. They will look at your business documents — the articles of organization, the EIN letter, the DBA registration — and make a copy for the bank's file. They will ask you to sign signature cards, which are the bank's record of who is authorized to sign checks and withdraw money from the account.

They will ask you what you plan to use the account for — payroll, vendor payments, customer deposits — and roughly how much money you expect to move through it each month. This is not a test; they are setting up fraud monitoring and making sure the account type fits your needs. They will ask whether you want online banking, which you should say yes to, and they will set up a username and password on the spot or send you a link to create one.

They will offer you a debit card, checks, and a mobile app. You do not have to take all three, but a debit card is useful for when ready access. Checks take one to two weeks to arrive if you order them; the bank can print temporary checks the same day if you need them urgently. The whole appointment takes 20 to 30 minutes.

Fees and account minimums

Business checking accounts have different fee structures than personal accounts. Most banks charge a monthly maintenance fee that ranges from $10 to $30, though some waive it if you keep a minimum balance or maintain a certain number of monthly transactions. Some banks charge per check written, per deposit, or per wire transfer. A few banks offer free business checking with no minimums, but they are less common.

Ask the banker for a fee schedule before you open the account. The schedule will list every charge: monthly fee, per-check fee, overdraft fee, wire transfer fee, ACH transfer fee, stop payment fee. Compare this to other banks if you have time. If you plan to write many checks or do frequent wire transfers, a bank with per-transaction fees will cost more than a bank with a flat monthly fee.

Some banks require a minimum opening deposit — $100 to $500 — but many do not. Ask whether the minimum is a one-time deposit or a balance you have to maintain. If it is a balance you have to maintain and you fall below it, the bank will charge a fee.

After the account opens: what to set up next

Once the account is open, set up online banking and mobile banking when ready. Log in and verify that your business name and address are correct in the system. Add your business address to your profile so that statements and notices go to the right place.

If you plan to receive payments from customers, ask the bank about merchant services (credit card processing) or ACH receiving. If you plan to pay vendors or employees, ask about bill pay, ACH transfers, and wire transfers. Some of these services have separate fees; the banker can walk you through the costs.

Order checks if you need them. If you need them urgently, ask whether the bank can print temporary checks or provide a temporary check number you can write by hand. Set up direct deposit for payroll if you have employees.

What to do if you do not have all the documents yet

If your business is brand new and you have not yet received your articles of organization from the state, call the bank and ask whether you can open with a receipt showing that you filed. Some banks will accept a filing receipt or a confirmation email from the Secretary of State's office. If the bank will not, you have two choices: wait for the official document to arrive (usually one to two weeks), or open a personal account in your name temporarily and transfer it to the business account once the documents arrive.

If you do not have an EIN yet, open the account with your Social Security number. You can add the EIN to the account later once you receive it from the IRS. Call the bank's business services line and ask them to update your account.

If you do not have a business address yet — you are working from home or you have not signed a lease — bring a utility bill or a piece of mail addressed to your home address. The bank will accept a residential address as a business address if that is where you actually operate.

Frequently Asked Questions

Can I open a business account online if I have an LLC?

Some large banks now offer online opening for LLCs, but you will need to upload a copy of your articles of organization and it may take one to two business days to verify. Most regional and community banks still require in-person opening. Call the bank you want to use and ask whether they offer online opening for your business structure.

Do I need a business license to open a business bank account?

Not always. Most banks do not require a business license for account opening. However, some states or cities require a license for certain types of work — contractors, salons, food service — and the bank may ask to see it. Check your local requirements before you go, or call the bank and ask what they need.

What if I am a sole proprietor and I do not have an EIN?

You can open the account with your Social Security number. An EIN is not required for sole proprietors, though having one keeps your business and personal finances separate in the IRS system. You can get an EIN free from the IRS website anytime, even after the account is open, and add it to the account later.

How long does it take to open a business account?

In-person opening takes 20 to 30 minutes and the account is active the same day. Online opening takes one to two business days for verification. Video opening is usually one business day. The time depends on how quickly the bank can verify your documents and whether anything needs clarification.

What if the bank asks for documents I do not have?

Ask the banker what the document is for and whether there is an alternative. For example, if they ask for a utility bill and you do not have one, a lease or a mortgage statement usually works. If they ask for a certified copy of your articles of organization and you only have a photocopy, ask whether the photocopy is acceptable or whether you need to order a certified copy from the state (which takes a few days and costs a small fee).