The documents and information a bank will ask for

A business bank account requires three categories of things: proof that your business exists as a legal entity, proof of who owns or controls it, and proof of your identity. The exact documents depend on your business structure — a sole proprietorship needs less paperwork than an LLC or corporation — but every bank will ask for at least one document from each category before they open the account.

You will not need to have been in business for a certain length of time, and you do not need a business license in most states to open the account itself. You do need to show that you have registered your business name with your state if you are operating under a name other than your own legal name. The bank's job is to verify that you are who you say you are and that the business you claim to own actually exists in some legal form.

Key Takeaways

  • Every bank will ask for a government-issued photo ID for the person opening the account, plus documentation that proves the business exists as a legal entity.
  • Sole proprietors typically need only an EIN (Employer Identification Number) or Social Security Number, a business license or DBA registration, and a photo ID.
  • LLCs and corporations must provide articles of organization or incorporation, an EIN, and proof of ownership such as an operating agreement or corporate resolution.
  • Some banks require a minimum deposit to open the account, and a few ask for a business plan or proof of business activity, though most do not.
  • The process usually takes one to three business days once you submit all documents, though some banks offer same-day opening for online applications.

Documents for a sole proprietorship

If you operate as a sole proprietor — meaning you own the business yourself and have not formed an LLC or corporation — you need a government-issued photo ID (driver's license, passport, or state ID card), proof that your business name is registered, and either an EIN or your Social Security Number.

Proof of registration means a DBA (Doing Business As) certificate from your county or state, or a business license issued by your city or county. Some states do not require a DBA if you operate under your legal name; in that case, the bank may accept a business license alone. Call the bank before you go in and ask which document they prefer. If you have not yet obtained these, you can usually register a DBA online through your county clerk's office for a small fee — typically $10 to $50 — and receive it the same day or within a few days.

Documents for an LLC or corporation

An LLC or corporation requires more documentation because the bank needs to confirm that the business is a separate legal entity and that you have the authority to open an account on its behalf. Bring your articles of organization (for an LLC) or articles of incorporation (for a corporation), your EIN, and a government-issued photo ID.

Many banks also ask for an operating agreement (for an LLC) or a corporate resolution (for a corporation) that authorizes you to open the account. These documents prove that the business's owners or board have given you permission to act. If you formed your LLC or corporation through your state's secretary of state office, you already have the articles; you can read a copy from that office's website or request one by mail. An operating agreement is a document you create yourself — it does not have to be filed with the state, but the bank may ask to see it. If you do not have one, some banks will accept a signed statement from all owners saying they authorize you to open the account.

What banks ask about your business activity

Most banks will ask basic questions about what your business does, how long you have been operating, and how much money you expect to move through the account each month. These are not strict requirements — you can open an account even if you are brand new — but the bank uses this information to assess risk and determine which account type fits you best.

A few banks, particularly those focused on small business, may ask for a business plan or proof that you have already started generating revenue. This is uncommon and usually only happens with larger accounts or when you are requesting a business credit line at the same time. Most community banks and online banks do not require this. If a bank tells you they need a business plan, you can ask whether they will accept a one-page summary of your business model and projected revenue instead of a formal document.

Minimum deposits and account fees

Some banks require a minimum opening deposit, typically $100 to $500, though many online banks have eliminated this requirement. The deposit becomes part of your account balance and is not a fee. Ask the bank what their minimum is before you open the account so you know how much cash to bring or transfer.

Monthly maintenance fees vary widely — some banks charge $10 to $25 per month, while others waive the fee if you maintain a certain balance or set up direct deposit. These fees are separate from transaction fees (charges for each check you write or transfer you make). Read the fee schedule before you commit, because switching banks later is possible but requires closing the old account and moving your transactions to a new one.

The timeline from documents to active account

Once you submit all required documents, most banks complete the verification process within one to three business days. Online banks often move faster — some offer same-day or next-day account opening if you upload documents through their app. Banks that require in-person visits may open your account the same day you visit the branch, though they still verify your documents afterward.

The bank will contact you if they need clarification on any document or if something does not match their records. This usually means a phone call or email asking you to resubmit a document or provide additional information. Once verification is complete, you will receive your account number, routing number, and debit card (if applicable) either by mail or through the bank's app, depending on the bank's process.

What happens if you do not have all documents yet

If you have not yet registered your business name or obtained an EIN, you can do both before opening the account. An EIN takes about 15 minutes to request online through the IRS website and is issued when ready; you can use the confirmation number as proof until the official letter arrives. A DBA or business license typically takes a few days to a few weeks depending on your state and county, but you can often explore online and receive it digitally.

Some banks will hold an account open temporarily while you gather documents, though this is not standard practice. Your safer approach is to complete registration and obtain your EIN first, then open the account with all documents in hand. This avoids delays and ensures the bank has everything they need from the start.

Frequently Asked Questions

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

Not always. A business license is required in some cities and states but not others. What every bank requires is proof that your business name is registered — either through a DBA, business license, or articles of organization. Check with your city or county to see whether a license is required in your area, and ask the bank which document they will accept.

Can I use my Social Security Number instead of an EIN?

Yes, if you are a sole proprietor. Many banks accept either an EIN or a Social Security Number for sole proprietorships. However, using an EIN keeps your personal and business finances more clearly separated and is generally recommended. You can request an EIN for free from the IRS website in about 15 minutes.

What if I am opening the account for someone else's business?

You will need written authorization from the business owner, usually in the form of a corporate resolution (for corporations), operating agreement (for LLCs), or a signed letter stating that you are authorized to open and manage the account. Bring this document along with your own photo ID and the business's registration documents.

How long does it take to get an EIN?

If you request an EIN online through the IRS website, you receive a confirmation number when ready and can use it right away. The official EIN letter arrives by mail within two to four weeks, but the number itself is active as soon as you receive the confirmation. Some banks will accept the confirmation number; others wait for the official letter.

Can I open a business account if my business is brand new?

Yes. Banks do not require you to have been operating for any length of time. You only need to show that your business is registered as a legal entity and that you have the authority to open an account on its behalf. Even if you have not yet made your first sale, you can open the account.