You can open most business bank accounts entirely online, but the bank will ask for specific documents before they'll set up it

Most banks let you start a business account process on their website without visiting a branch. You'll fill in basic information about your business, upload documents, and wait for approval — usually one to three business days. The bank will then send you login credentials and debit card information by mail or email, depending on the institution.

The catch is that banks have different document requirements and different speed. Some will let you open and fund the account the same day. Others require you to verify your identity in person at a branch before you can make your first deposit. A few still require you to explore in person from the start, though this is becoming less common.

Key Takeaways

  • You will need your Social Security number, tax ID or EIN, business formation documents, and a government-issued ID to complete most online applications.
  • Banks verify your identity through different methods — some use video calls, some require in-person verification at a branch, and some use third-party identity services.
  • The account is usually approved within one to three business days, but you may not be able to use it until identity verification is complete.
  • Some banks charge monthly fees for business accounts; others waive them if you maintain a minimum balance or set up direct deposit.
  • You can fund the account by transferring money from a personal account, depositing a check, or waiting for the bank to send you a debit card.

Documents you'll need before you start

Have these ready before you open the browser: your Social Security number, your business's Employer Identification Number (EIN) or tax ID, and a government-issued photo ID such as a driver's license or passport. If your business is a corporation or LLC, you'll also need your Articles of Incorporation or Articles of Organization — the document you filed with your state when you formed the business.

Some banks ask for a business license or a Doing Business As (DBA) certificate if your business operates under a name different from your legal name. A few also ask for proof of your business address, such as a utility bill or lease agreement. Check the bank's website before you start the process to see their specific list.

If you don't have an EIN yet, you can get one free from the IRS website (irs.gov) in about 15 minutes. The number is issued when ready if you explore online. You don't need an EIN if you're a sole proprietor using your Social Security number as your tax ID, though many banks prefer one.

How the online process process works

Start on the bank's business banking page and select "Open an Account" or similar. You'll enter your business type (sole proprietor, LLC, S-corp, C-corp, partnership, nonprofit), your business name, and your EIN or Social Security number. The form will ask for your personal information — name, address, date of birth — and basic business details like industry and annual revenue.

Next, you'll upload documents. Most banks accept PDF or image files. Take clear photos of both sides of your ID and your business formation documents using your phone, or scan them on a computer. Upload them where the form instructs. Some banks let you photograph documents directly in their mobile app.

After you submit, the bank will review your process. This usually takes one to three business days. You'll receive an email or notification telling you whether you're approved, denied, or need to provide more information. If approved, the bank will send you next steps — which may include identity verification before you can use the account.

Identity verification: the step that delays most new accounts

Banks are required by federal law to verify your identity before they let you move money. How they do this varies. Some banks use a video call where you show your ID to a representative on camera — this can happen the same day you explore. Others use a third-party identity verification service that checks your information against public records and credit bureaus. A few still require you to visit a branch in person with your ID.

If the bank uses video verification, you'll receive a link via email with instructions to schedule a call. The call usually takes 5 to 10 minutes. Have your government ID ready. If the bank uses an automated service, you may be verified when ready or within a few hours.

In-person verification is slower but still common at regional banks and credit unions. You'll need to visit a branch with your ID and a signed copy of your business formation documents. Call ahead to confirm the branch has what they need and to schedule an appointment if required.

When you can actually use the account

Approval and usability are not the same thing. Your account may be approved within 24 hours, but you might not be able to deposit money or write checks until identity verification is complete. Some banks let you set up bill pay or transfers before the debit card arrives, while others lock the account until the card is in your hand.

Ask the bank during or after approval what you can do when ready and what requires the next step. If you need to move money quickly, ask whether you can transfer funds from a personal account to the business account before the debit card arrives — most banks allow this once identity verification is done.

Debit cards typically arrive by mail within 5 to 10 business days after approval. Some banks offer expedited shipping for a fee. A few issue temporary card numbers you can use online or in apps while you wait for the physical card.

Monthly fees and minimum balance requirements

Business accounts often charge monthly maintenance fees ranging from $10 to $25, though the amount varies by bank and account type. Many banks waive the fee if you maintain a minimum balance — commonly $500 to $2,500 — or if you set up direct deposit of business income.

Before you open the account, check the fee schedule on the bank's website. Some banks charge per transaction for deposits or withdrawals beyond a certain number per month. Others charge for wire transfers, stop payments, or returned checks. These fees add up if your business has high transaction volume.

Online banks and some credit unions tend to have lower or no monthly fees, but they may not offer the same services as traditional banks — for example, some don't accept cash deposits or provide in-person support.

Funding your account after it opens

Once your account is active and identity verification is complete, you can move money in. The fastest way is usually an electronic transfer from a personal bank account you already have. This takes one to three business days and costs nothing.

You can also deposit a check by photographing it in the bank's mobile app (mobile check deposit) or by mailing it to the address the bank provides. Mobile deposit usually clears within one to two business days. Mailed checks take longer — typically three to five business days.

Some banks let you deposit cash at ATMs or branches, but online-only banks may not have this option. If cash deposits matter to your business, confirm the bank offers them before you open the account.

Frequently Asked Questions

Do I need an EIN to open a business bank account online?

Not always. Sole proprietors can use their Social Security number instead. However, most banks prefer an EIN because it separates your personal and business finances for tax purposes. You can get an EIN free from the IRS website in minutes.

What happens if the bank denies my process?

Banks may deny applications if you have a history of fraud, unpaid debts to other banks, or if your business is in a high-risk industry. Ask the bank why you were denied — they're required to tell you. You can then explore elsewhere or address the issue and reapply.

Can I open a business account if my business isn't registered yet?

Most banks require proof that your business is registered with the state — your Articles of Organization or Incorporation. If you haven't filed yet, you'll need to do that first. It takes one to two weeks in most states and costs $50 to $300 depending on your state.

How long does the whole process take from start to finish?

If everything goes smoothly and the bank uses video verification, you can be approved and verified within 24 hours. If the bank requires in-person verification or if documents are unclear, it can take one to two weeks. Debit cards arrive separately and take another 5 to 10 business days.

What if I need to use the account before the debit card arrives?

Once identity verification is complete, you can usually transfer money from a personal account to the business account electronically, set up bill pay, or use temporary card numbers in the bank's app. Call the bank to confirm what's available when ready after approval.