The documents and information a bank will ask for

To open a business bank account, you will need to provide proof of your business identity, proof of your personal identity, and documentation showing how your business is structured. The exact list depends on whether your business is a sole proprietorship, partnership, LLC, S-corp, or C-corp — each structure requires different paperwork. A bank will not open an account without these, so gathering them before you visit or explore online saves time.

Most banks ask for the same core set of items. You will need a government-issued photo ID (driver's license or passport), your Social Security number or Employer Identification Number (EIN), and proof that your business exists as a legal entity. For sole proprietorships, that proof is often just your driver's license plus a DBA (Doing Business As) certificate if you operate under a name other than your own. For LLCs and corporations, you will need your Articles of Organization or Articles of Incorporation — the document you filed with your state to create the business.

Some banks also ask for a business license, a recent utility bill showing your business address, or a lease agreement. Requirements vary by bank and by state, so calling ahead or checking the bank's website before you go in saves a trip. If you are opening the account online, the bank will tell you exactly what to upload during the process.

Key Takeaways

  • You will need a government-issued photo ID, your Social Security number or EIN, and proof your business is registered with your state (Articles of Organization, Articles of Incorporation, or DBA certificate).
  • Sole proprietorships typically need only an ID and Social Security number; LLCs and corporations need their state filing documents.
  • Some banks request additional documents like a business license, utility bill, or lease, so contact your bank before visiting to confirm what they need.
  • Opening online usually requires uploading copies of documents; opening in person means bringing originals or certified copies.
  • The process typically takes one to three business days once the bank receives all required documents.

How to get an EIN if you do not have one

An Employer Identification Number (EIN) is a nine-digit number the IRS assigns to your business. You do not need one to open a sole proprietorship account — you can use your Social Security number instead — but many banks prefer an EIN because it separates your personal finances from your business finances on their records. If your business is an LLC, S-corp, or C-corp, you will need an EIN regardless.

You can obtain an EIN for free from the IRS. The fastest way is to explore online at the IRS website (irs.gov); you will receive your number when ready after you submit the form. You can also explore by phone, mail, or fax, but those routes take longer. The online process takes about 15 minutes and requires your Social Security number, business name, business address, and the type of business structure you have.

Once you have your EIN, write it down and keep it somewhere safe. You will need it not only for the bank account but also for tax filings, hiring employees, and opening business credit accounts later.

What to bring if you are opening in person

If you walk into a bank branch to open a business account, bring originals or certified copies of your documents, not photocopies. Banks verify documents by looking at them directly, and they often will not accept a photocopy of your ID or your state filing documents. Bring your government-issued photo ID, your EIN letter (if you have one), and your Articles of Organization or incorporation documents.

Bring two forms of identification if possible — your driver's license plus a passport, or your ID plus a utility bill in your name. Some banks ask for proof of your business address separately from your personal address, so if you have a lease, a utility bill for the business location, or a mail receipt showing the business address, bring that too. Call the bank branch ahead of time and ask what they need; most branches have a checklist they can email or read to you over the phone.

Bring a blank check or deposit slip if you have one, though the bank will provide these. You will also need to decide on the account type — checking, savings, or both — and the names and titles of anyone who will have signing authority on the account.

What to upload if you are opening online

Online account opening has become standard at most banks. You will create a login, answer questions about your business, and upload images of your documents. The bank's website will tell you which documents to upload and in what format — usually PDF, JPG, or PNG files. Take clear photos of both sides of your ID, your EIN letter, and your state filing documents. Make sure the text is legible; blurry images will be rejected and you will have to resubmit.

The online process usually takes 10 to 20 minutes to complete. After you submit, the bank's team reviews your documents, which typically takes one to three business days. You will receive an email or phone call once your account is approved, and the bank will send you debit cards and checks by mail. Some banks allow you to start using the account (transferring money, setting up direct deposit) before the physical cards arrive.

If the bank rejects any of your documents, they will email you and ask you to resubmit. Common reasons for rejection are blurry images, missing pages, or documents that are too old. Keep your documents organized in a folder on your computer so you can resubmit quickly if needed.

Minimum deposit and account fees

Most banks require a minimum opening deposit to create a business account, though the amount varies widely. Some banks have no minimum; others require $100, $500, or $1,000. A few banks waive the minimum if you set up direct deposit or maintain a certain monthly balance. Check the bank's website or call before you open the account so you know what to expect.

Business accounts typically cost more per month than personal accounts. Monthly maintenance fees range from $0 to $30 or more, depending on the bank and account type. Some banks waive the fee if you maintain a minimum balance (often $2,500 to $10,000) or if you set up direct deposit. Others charge per transaction — for example, $0.50 per check deposited or per wire transfer. Read the fee schedule carefully before you commit; over a year, these charges add up.

Ask the bank whether they charge for common business transactions: ACH transfers, wire transfers, check deposits, and balance inquiries. Some banks offer unlimited transactions for a flat monthly fee; others charge per transaction. If you plan to process a lot of payments, a bank with unlimited transactions may save you money even if the monthly fee is higher.

Who needs to sign and what authority they have

When you open the account, you will designate who can sign checks, approve transfers, and make other decisions about the account. This is called signing authority. At minimum, one person must have authority to sign. That person is usually the business owner, but it can be anyone you trust — a partner, a manager, an accountant, or a family member.

You can give different people different levels of authority. One person might be able to sign checks but not approve wire transfers. Another might be able to view the account but not move money. The bank will ask you to list each person's name, title, and the specific actions they are authorized to take. This information goes into your account agreement, and the bank uses it to verify that transactions are legitimate.

If you are a sole proprietor, you are the only person who needs signing authority. If you are a partnership or LLC with multiple owners, each owner can have authority, or you can limit it to one or two people. Discuss this with your co-owners or partners before you open the account so everyone understands who can do what.

Timeline from start to first deposit

The total time from the moment you decide to open an account to the moment you can deposit money depends on how you open it. If you open online, the process takes one to three business days for approval, plus two to five business days for the bank to mail you debit cards and checks. You can usually start using the account (transferring money in, setting up direct deposit) before the physical cards arrive, so you may be able to deposit money within three to five business days.

If you open in person at a branch, you can walk out with a debit card the same day in many cases, though some banks mail cards instead. You can usually start using the account when ready after you sign the paperwork. Checks take longer — typically five to seven business days to arrive by mail.

The slowest part of the process is usually gathering your documents before you explore. If you do not yet have an EIN or your state filing documents, budget an extra week or two. If you already have everything ready, you can open an account in as little as one business day.

Frequently Asked Questions

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

No, not if you are a sole proprietor. You can use your Social Security number instead. However, many banks prefer an EIN because it keeps your personal and business finances separate on their records. If your business is an LLC, S-corp, or C-corp, you will need an EIN.

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

Most banks will not open an account without proof that your business is registered. For a sole proprietorship, a DBA certificate counts as proof. For an LLC or corporation, you need your Articles of Organization or Incorporation. If you have not filed these yet, you will need to do that first — it usually takes one to two weeks depending on your state.

What if I do not have a business address yet?

You can use your home address as your business address when you open the account. Some banks ask for a utility bill or lease showing the address, but a utility bill in your name at your home address usually satisfies this requirement. If you move later, you can update your address with the bank.

Can someone else open the account on my behalf?

No. The person opening the account must be present (in person or online) and must provide their own government-issued ID. If you are opening in person, you can bring someone to help with paperwork, but you must be there to sign the account agreement yourself.

What happens if the bank rejects my documents?

The bank will contact you by email or phone and explain what is wrong — usually that an image is blurry, a document is expired, or a page is missing. You will have the chance to resubmit corrected documents. The review process starts over once you resubmit, which typically takes another one to three business days.