The documents and information a bank will ask for
When you walk into a bank to open a business account, you will need to bring proof of who you are, proof that your business exists, and proof of your ownership stake in it. The exact documents depend on what kind of business you run — a sole proprietorship needs different paperwork than an LLC or corporation — but the bank's job is always the same: they need to confirm you are real, your business is real, and you have the right to control the money.
Banks are required by federal law to collect this information. It is called Know Your Customer (KYC) verification, and it protects both you and the bank. The process takes about 15 to 30 minutes in person, or longer if you do it by mail or video call.
Key Takeaways
- You will need a government-issued photo ID for yourself and proof that your business is registered with your state or local government.
- The documents required change based on whether you are a sole proprietor, LLC, partnership, or corporation — ask the bank which form your business structure needs.
- Most banks now offer video or mail-based account opening, so you do not have to visit in person, though some still require it.
- The entire process usually takes one to three business days from the moment you submit your documents until your account is ready to use.
- If your business is brand new and not yet registered, some banks will open an account using your business plan and a letter from you stating the business name and structure.
Documents for a sole proprietorship
A sole proprietorship is a business you own by yourself with no separate legal structure. You and the business are the same entity in the eyes of the law. To open an account, bring your driver's license or passport, your Social Security number, and proof of your business name — usually a Doing Business As (DBA) certificate filed with your county or state, or a business license.
If you have not yet registered your business name anywhere, some banks will accept a signed statement from you saying what the business name is and that you are the sole owner. This is less common, but it happens. Call the bank first to ask what they will take.
You will also need to provide your address and phone number, and the bank may ask what your business does and roughly how much money you expect to move through the account each month. This is normal — they are not judging you, they are making sure they have the right account type for your needs.
Documents for an LLC, partnership, or corporation
If your business has a separate legal structure, the bank needs to see the document that created it. For an LLC, that is your Articles of Organization. For a corporation, it is your Articles of Incorporation. For a partnership, it is your Partnership Agreement. These documents show the bank that the business is real and registered with your state.
You will also need to bring your own government-issued ID and Social Security number, just as with a sole proprietorship. The bank may ask for an Employer Identification Number (EIN) — a nine-digit number the IRS assigns to businesses. If you do not have one yet, you can get one free from the IRS website, and the process takes about 15 minutes. Some banks will open the account without an EIN if you provide your Social Security number instead, but having an EIN is cleaner and keeps your personal tax number separate from your business.
If you are not the sole owner, the bank may ask to see a resolution or written permission from the other owners saying you have the right to open and manage the account. Ask the bank what they need before you come in.
What to bring in person versus by mail or video
Most large banks now let you open a business account online or by video call, which means you can do it from home. You will photograph or scan your documents and upload them, and a bank employee will watch you on video to confirm you are the person in your ID. This usually takes three to five business days.
Some smaller banks and credit unions still require you to come in person. If you do, bring the original documents — do not send photocopies by mail unless the bank specifically says that is okay. Banks are cautious about copies because they need to see the real thing to spot a fake.
If you are opening the account by mail, the bank will send you a form to sign and instructions on which documents to photograph or copy. Follow their instructions exactly — if they say to send a certified copy, do that rather than a regular photocopy. The process takes longer by mail, usually one to two weeks.
Your personal information and the business address
The bank will ask for your home address, phone number, and email. They will also ask for the business address — this can be your home if you work from home, a physical office, or a mailbox service. If you use a mailbox service, tell the bank that is what it is; they need to know whether mail sent to that address will actually reach you.
You may be asked about the source of your initial deposit — where the money is coming from. This is another federal requirement. If you are depositing your own savings, say that. If someone is lending you money or investing in the business, say that too. The bank is not trying to pry; they are required to track where business money originates.
What happens after you submit your documents
Once you hand over or upload your documents, the bank runs a background check and verifies that your business registration is real. This usually takes one to three business days. You will get a call or email telling you the account is open, and they will give you your account number and routing number.
Some banks will let you start using the account right away, even before your debit card arrives. Others make you wait until the card is in your hand. Ask when you can make your first deposit and whether you can set up transfers or payments before the card shows up.
If the bank asks for more information or documents, they will contact you. This happens sometimes — for example, if your business registration document is unclear or if your name on your ID does not match your business registration exactly. Respond quickly; delays here slow down the whole process.
Frequently Asked Questions
Can I open a business account if my business is not registered yet?
Some banks will open an account for a business that is not yet officially registered, using a signed statement from you and a business plan. Others require registration first. Call ahead and ask what your bank needs. If they require registration, you can usually file a DBA or LLC online in a few days for a small fee.
Do I need an EIN if I am a sole proprietor?
No. As a sole proprietor, you can use your Social Security number instead. However, getting an EIN is free and keeps your personal and business finances more separate, which is useful for taxes and liability. It takes 15 minutes online through the IRS website.
What if my business address is my home?
That is fine. Tell the bank your home address is your business address. Some banks ask whether you own or rent the property, but this is just for their records. You do not need to provide a lease or deed.
How long does it take to open an account?
If you go in person with all your documents, you can walk out with an account number the same day. If you do it by video or mail, expect one to five business days. The bank will tell you their timeline when you start the process.
What if the bank rejects my documents?
The bank will call or email you and say what is missing or unclear. Usually it is something straightforward — a document that is hard to read, a name that does not match exactly, or a registration that expired. Fix it and resubmit. If the bank denies you outright, they will tell you why. You can then try another bank or ask the first bank what you need to change.