What banks ask for before they open your account

Most banks need four things before they will open a business account: proof of your business structure, a form of identification, an Employer Identification Number (EIN) or Social Security Number, and an initial deposit. The exact documents vary by bank and by what kind of business you run, but these four categories cover nearly all of them.

The reason banks ask for these is straightforward: they need to know who owns the business, that you are who you say you are, and that the business actually exists. They are also required by federal law to verify your identity under the Bank Secrecy Act. This is not negotiable, though the specific proof each bank accepts does shift.

You do not need to have been in business for a certain amount of time, and you do not need to have revenue or employees yet. A brand-new business can open an account the same day you form it, as long as you have the paperwork to prove it exists.

Key Takeaways

  • You will need proof of your business structure (articles of incorporation, LLC formation documents, or a DBA filing) and a government-issued ID.
  • Most banks require either an EIN from the IRS or your Social Security Number if you are a sole proprietor.
  • An initial deposit is almost always required, though the amount varies widely—some banks ask for $25, others for $500 or more.
  • Bring originals or certified copies of documents; banks will not accept photos or digital scans for the initial opening, though some allow them later for updates.
  • Different business structures (sole proprietorship, LLC, S-corp, C-corp) require different paperwork, so know your structure before you walk in.

Documents you need by business type

A sole proprietorship is the simplest. You need your Social Security Number, a government-issued ID, and proof that you are operating under a business name if you are using one other than your own. That proof is usually a DBA (Doing Business As) certificate filed with your county or state. If you are using your own name as the business name, you may not need the DBA at all—ask the bank first.

An LLC or partnership requires the Articles of Organization or Articles of Formation filed with your state, plus your EIN. You can get an EIN from the IRS for free at irs.gov. You will also need identification for the person opening the account, and often the bank will ask for a resolution or certificate of good standing from your state showing the LLC is active.

A corporation (C-corp or S-corp) needs the Articles of Incorporation, your EIN, and often a corporate resolution authorizing the account opening. Some banks also ask for bylaws or a certificate of good standing. The person opening the account must be authorized to do so—usually the president, treasurer, or a designated officer.

A nonprofit needs Articles of Incorporation showing nonprofit status, your EIN, and proof of tax-exempt status from the IRS (Form 1023 approval letter or Form 990-N filing confirmation). Banks treat nonprofits differently because of their tax status, so mention that you are a nonprofit when you call to schedule the appointment.

The identification and EIN piece

Banks will ask for a government-issued photo ID from the person opening the account. A driver's license, passport, or state ID card all work. They will also verify your Social Security Number or EIN against federal records to make sure it matches the name and business structure you provided.

If you do not have an EIN yet and you are not a sole proprietor, you will need to get one before opening the account. The IRS issues EINs for free and when ready if you explore online at irs.gov. You can also explore by phone or mail, but those take longer. If you are a sole proprietor and do not have an EIN, you can use your Social Security Number instead—many banks accept this.

Some banks will hold your account open temporarily while you obtain an EIN, but do not count on it. It is faster to get the EIN first, then open the account.

Initial deposits and account minimums

Nearly every business bank account requires an opening deposit. The amount varies widely. Some banks ask for $25 to $100, while others require $500, $1,000, or more. A few banks have no minimum deposit, but they are less common.

The opening deposit is not a fee—it becomes part of your account balance. You can withdraw it once the account is open, though some banks have rules about how quickly you can do that. Ask the bank about their specific policy before you open the account.

Some accounts also have monthly maintenance fees, minimum balance requirements to waive those fees, or per-check charges. These vary by bank and by account type. A business checking account at one bank might cost $15 a month with no minimum balance, while another bank charges $0 monthly but requires you to keep $2,500 in the account to avoid fees. Compare these costs before you choose a bank.

What to bring to the bank

Bring originals or certified copies of all documents. Banks will not accept photocopies or digital scans for the initial account opening. If you do not have a certified copy, the bank can usually make one from your original and keep it on file.

Bring your government-issued ID and the person who is authorized to open the account should be the one who goes in. If someone else is opening it on behalf of the business, bring a power of attorney or corporate resolution showing that person has authority to do so.

Bring your EIN letter from the IRS if you have one, or proof that you applied for one. Bring your DBA certificate if you filed one. Bring your Articles of Organization or Incorporation. Bring the initial deposit in the form the bank accepts—usually a check, wire transfer, or cash, though policies vary.

Call the bank before you go in and ask what they specifically need. Different branches of the same bank sometimes have slightly different requirements, and some banks have a checklist they will email or mail to you ahead of time. This saves a trip back home for a missing document.

Timeline and what happens next

The account opening itself usually takes 30 minutes to an hour if you have all your documents. The bank will verify your identity, check your EIN or Social Security Number against federal records, and review your business structure documents. If everything matches, they will open the account on the spot.

You will receive checks, a debit card, and online banking access within a few days to two weeks, depending on the bank. Some banks offer temporary debit cards you can use when ready while the permanent card is being printed. Online banking is usually available the same day or the next business day.

A few banks do a background check or review your business type before approving the account. This is rare and usually only happens if your business is in a heavily regulated industry (like cannabis, lending, or money services). If the bank flags your process, they will contact you to ask questions. This can add a few days to the process.

Frequently Asked Questions

Can I open a business account if my business is not registered yet?

No. You need proof that your business exists—either a filed DBA, Articles of Organization, or Articles of Incorporation. You can file these documents the same day you plan to open the account, but you need the filing confirmation or certificate before the bank will open the account. Most states issue these when ready or within one business day.

What if I do not have an EIN yet?

If you are a sole proprietor, you can use your Social Security Number instead. If you are an LLC, partnership, or corporation, you need an EIN. You can get one for free online at irs.gov in about 15 minutes. Some banks will let you open the account with a temporary EIN process number, but call ahead to confirm.

Do I need to bring my business plan or financial projections?

No. Banks do not ask for these when opening a business account. They only need proof of your identity, your business structure, and your EIN or Social Security Number. Business plans and financial projections are only relevant if you are explore for a business loan.

Can someone else open the account for me?

Only if they have written authorization from you. This is usually a power of attorney document or a corporate resolution. The person opening the account will still need to show their own government-issued ID, and the bank will verify that they have authority to act on behalf of the business.

What if the bank rejects my process?

Banks rarely reject business accounts outright, but they may ask follow-up questions about your business type, ownership, or source of funds. If they do reject you, ask why in writing. Common reasons include mismatched names or numbers, a business type the bank does not serve, or a flag in their background check system. You can try another bank, or contact the bank's compliance department to dispute the decision if you believe it was made in error.