What you need before you walk into a bank

A business bank account for an LLC requires the bank to see proof that your LLC actually exists as a legal entity separate from you as a person. This means you need your Articles of Organization — the document you filed with your state to create the LLC in the first place — and an Employer Identification Number (EIN), which is a tax ID the IRS assigns to your business.

Most banks will also ask for a government-issued ID (your driver's license or passport), proof of your address (a recent utility bill or lease), and sometimes a document showing who owns and runs the LLC. Some banks call this an Operating Agreement, though not every state requires you to have one on file. If your state does not require it, you can often create a straightforward one yourself or use a template — the bank mainly wants to see that you have thought through who has authority to make decisions about the account.

A few banks may ask for a business license or a Doing Business As (DBA) certificate if you operate under a name different from your LLC's legal name. Check with your specific bank before you go in, because requirements vary.

Key Takeaways

  • You must bring your Articles of Organization and your EIN to open the account; without these, the bank cannot verify your LLC exists.
  • The bank will ask for your personal ID and proof of address, even though the account belongs to the business.
  • An Operating Agreement is often requested but not always required; ask the bank in advance whether they need one.
  • The process typically takes one to two weeks from the time you submit all documents until the account is active and you receive debit cards or checks.

Getting your EIN from the IRS

If you do not yet have an EIN, you can get one free from the IRS. The fastest way is to explore online at the IRS website (irs.gov) using their EIN Assistant tool. You answer questions about your business, and the system issues your EIN when ready — you can write it down on the spot or print the confirmation page.

You can also explore by phone (1-800-829-4933) or by mail using Form SS-4, though both take longer. The phone line is open Monday through Friday, 7 a.m. to 10 p.m. Eastern time. If you explore by mail, allow four to six weeks.

You do not need to have a business bank account to get an EIN, and you do not need an EIN to form an LLC — but you will need the EIN before the bank will open a business account for you. Getting it first saves a trip back home to retrieve it.

Gathering your LLC documents

Your Articles of Organization is the form you filed with your state's Secretary of State office when you created your LLC. If you filed it yourself, you should have a copy. If someone else filed it for you, contact the Secretary of State's office in your state and request a certified copy — this usually costs five to fifteen dollars and takes a few days by mail or can be done in person if you visit their office.

Your state's Secretary of State website has a search tool where you can look up your LLC by name and confirm it is registered. Print or save this confirmation page; some banks accept it as proof of existence, though most prefer the actual Articles of Organization.

If you do not have an Operating Agreement and the bank requests one, you have two options. First, check whether your state requires LLCs to have one — many do not. If your state does not require it, you can create a basic one using a template from your state's Secretary of State website or from a business resource site. The agreement does not need to be elaborate; it mainly needs to state who owns the LLC and who has the power to sign checks and make banking decisions. If you are the sole owner, this is straightforward.

Choosing between in-person and online account opening

Most banks offer both options. In-person opening means you visit a branch with your documents, a banker reviews them on the spot, and you can ask questions face-to-face. This is often faster for approval because the banker can spot missing information when ready and you can fix it right there.

Online opening means you upload photos or scans of your documents through the bank's website or app. This is convenient if you have a busy schedule, but it can take longer because the bank's back-office team reviews the documents later, and if something is missing or unclear, they have to contact you by email or phone. The whole process can stretch to two or three weeks instead of a few days.

Some banks require in-person opening for LLCs specifically, even if they allow online opening for sole proprietors. Call ahead or check the bank's website to see which option they support for business accounts.

What happens after you submit your documents

Once the bank receives all your documents, they verify your EIN with the IRS and confirm that your LLC is registered with your state. This verification usually takes three to five business days. During this time, the bank may contact you if they need clarification on anything — for example, if your address on your ID does not match the address on your Articles of Organization.

After verification is complete, the bank approves the account and sets it up in their system. You will receive a welcome packet by mail with your account number, routing number, and temporary debit card or checks. Some banks mail these items; others let you pick them up at a branch. Ask the banker which applies to you.

You can usually start using the account as soon as it is set up, even if your physical debit card or checks have not arrived yet. The bank can provide your account and routing numbers when ready, which you can use to set up direct deposit or to pay bills online.

Fees and minimum balances

Business bank accounts typically cost more than personal accounts. Most banks charge a monthly maintenance fee that ranges widely depending on the bank and account type — some charge nothing if you maintain a minimum balance, while others charge twenty to fifty dollars per month regardless. Some banks waive the fee for the first few months as a new customer offer.

Many business accounts also require a minimum balance to avoid fees. This might be five hundred dollars, one thousand dollars, or more. If your balance drops below the minimum, the bank charges a fee that month. Ask the banker about the specific fee structure and minimum balance for the account you are opening, because these vary significantly between banks and even between different account types at the same bank.

You may also pay per-check fees if you order checks, per-transaction fees if you exceed a certain number of deposits or withdrawals per month, or fees for wire transfers, ACH transfers, or other services. These are optional services you use only if you need them, so do not worry about them until you know your actual banking habits.

Common mistakes to avoid

The most common mistake is showing up without your EIN. If you do not have it yet, get it before you go to the bank. The second mistake is bringing a copy of your Articles of Organization instead of the original or a certified copy. Some banks accept copies; others do not. Call ahead and ask what form they need.

A third mistake is using your personal address instead of a business address on the account. If you run the business from home, that is fine — use your home address. But if you have a separate business location, use that address on the account. The bank needs to know where the business operates for tax and regulatory reasons.

Finally, do not assume all banks have the same requirements. One bank might accept a straightforward Operating Agreement you write yourself; another might require a notarized version. One might open the account in one day; another might take two weeks. Call the bank's business services line before you visit or explore online, and ask specifically what documents they need and how long the process takes.

Frequently Asked Questions

Can I open a business account if my LLC is brand new and not yet registered?

No. The bank needs to verify that your LLC is registered with your state before they will open the account. File your Articles of Organization with your state first, get your EIN from the IRS, and then contact the bank. The whole process usually takes one to two weeks.

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

Not always. Most banks do not require a business license; they only need your Articles of Organization and EIN. However, some banks in certain states or cities may ask for one. Call your bank's business services line and ask whether they need a business license for your specific location.

What if I do not have a physical business address?

You can use your home address on the account. The bank needs a physical address for the business, not a separate commercial space. If you later move, you can update the address with the bank.

Can I open the account if I am not the sole owner of the LLC?

Yes, but the bank will need to know who the owners are and who has authority to sign checks and make decisions. This is where the Operating Agreement comes in — it shows the bank the ownership structure and who can act on behalf of the LLC. If you have multiple owners, all owners may need to sign the Operating Agreement or provide consent, depending on the bank's requirements.

How long does it take to get checks or a debit card after I open the account?

This varies by bank. Some banks issue a temporary debit card when ready and mail the permanent one within five to seven business days. Checks usually take one to two weeks to print and arrive. Ask the banker when you open the account so you know what to expect.