Not every business checking account can be opened entirely online, and the ones that can have specific requirements about what kind of business you run and what documents you have ready.
Most large banks—Chase, Bank of America, Wells Fargo, Citibank—require you to visit a branch in person to open a business checking account, even if you start the process online. They want to see your ID, verify your business documents, and sometimes meet you face-to-face before they'll fund the account.
Online-only banks and some regional banks do offer fully remote account opening. Axos Bank, Mercury, Brex, and Square Cash for Business let you complete the entire process on your phone or computer. But they have stricter rules about what businesses they accept, and they move faster than traditional banks partly because they're more selective about who they take on.
Key Takeaways
- Large national banks almost always require an in-person visit to a branch, even if you start your process online.
- Online-only banks complete the entire process remotely but typically accept only certain business structures—sole proprietorships, LLCs, and S-corps more readily than C-corps.
- You will need an EIN (Employer Identification Number) from the IRS, a government-issued ID, and proof of your business address for any account, whether online or in-branch.
- Some online banks verify your identity when ready through your phone; others take one to three business days to confirm your documents.
- If your business is brand new and has no tax history, online banks may decline you, but traditional banks are sometimes more willing to work with new businesses.
What documents you need before you start
The documents required are roughly the same whether you're explore online or in a branch, but online banks check them more strictly because they can't meet you in person to ask follow-up questions.
You will need: a government-issued photo ID (driver's license or passport), proof of your business address (a utility bill, lease, or mortgage statement dated within the last 90 days), and an EIN from the IRS. If you're a sole proprietor, you can use your Social Security Number instead of an EIN, but most online banks prefer an EIN because it separates your personal and business finances more clearly.
You'll also need to know your business structure—sole proprietorship, LLC, S-corp, or C-corp—and have documentation to prove it. For an LLC or corporation, that means your Articles of Organization or Articles of Incorporation filed with your state. For a sole proprietorship, you may only need a DBA (Doing Business As) certificate if you're operating under a name different from your own.
Have this paperwork ready before you start an process. Online banks often ask for it when ready, and uploading it during the process speeds up approval. If you're missing something, the process stalls.
Online banks that complete accounts without a branch visit
Mercury opens accounts for sole proprietors, LLCs, and S-corps. The process takes about 10 minutes online, and they verify your identity through your phone. Funding is usually available the same day or next business day. Mercury does not accept C-corps or nonprofits.
Axos Bank (formerly AxaBank) opens accounts online for most business structures, including C-corps. The process takes 15 to 20 minutes, and they typically fund within one business day. Axos is one of the few online banks that will work with newer businesses.
Brex focuses on startups and small businesses with higher transaction volumes. The process is fast, but Brex declines businesses that are fewer than two years old or have very low revenue. If you're accepted, funding is usually same-day.
Square Cash for Business is the simplest option if you're a sole proprietor or very small LLC. You can open an account in minutes using just your Social Security Number and a photo ID. There's no monthly fee, but the account is more limited—it's designed for receiving payments and basic transfers, not for running a full business operation.
Novo and Lemonade Bank also offer online account opening for LLCs and sole proprietors, though both have smaller networks of ATMs and fewer in-person services than larger banks.
Why traditional banks still require a branch visit
Large banks have compliance rules that push them toward in-person verification. They're required to know their customers under federal anti-money-laundering law, and many interpret that to mean they need to see you in person and verify your documents face-to-face.
In-person meetings also let the bank ask questions that don't fit into an online form: what your business actually does, how you'll use the account, whether you're expecting large deposits, and whether you have other accounts at the bank. A banker can make judgment calls that an automated system cannot.
This doesn't mean the process is slow. Once you're in the branch, most banks can open your account the same day. But it does mean you have to find a branch location, schedule an appointment (or wait for a walk-in slot), and go in person.
What happens if an online bank declines you
Online banks decline applications for a few common reasons: your business is too new (fewer than six months old), your business structure isn't one they accept (many won't take C-corps), or you have a history of fraud or financial problems.
If you're declined, you have two paths. First, try a traditional bank. They're slower and require a branch visit, but they're often more willing to work with newer businesses or unusual structures. Second, wait a few months if your business is very new—online banks are more comfortable with businesses that have some operating history and tax filings.
Some online banks will tell you why they declined you; others won't. If you get a decline without explanation, you can call their support line and ask. Knowing the reason helps you decide whether to reapply later or try a different bank.
The timeline for online account opening
Online banks move faster than traditional banks, but "online" doesn't always mean when ready. Here's what to expect:
| Step | Typical Timeline |
|---|---|
| Submit process and documents | 5 to 20 minutes |
| Identity verification (automated or manual) | when ready to 3 business days |
| Document review | Same day to 2 business days |
| Account approval | Same day to 3 business days |
| Account funding (able to use) | Same day to 1 business day after approval |
The fastest banks—Mercury and Square Cash—can fund within hours. Others take one to three business days. The slowest step is usually identity verification if the bank needs to do it manually rather than through an automated system.
Weekends and holidays slow everything down. If you explore on a Friday evening, don't expect approval until Monday or Tuesday.
When you might need to go to a branch anyway
Even if you open your account online, you may need to visit a branch later for certain tasks. Depositing cash, getting a cashier's check, or resolving a fraud dispute sometimes requires in-person service. Online-only banks have workarounds—they partner with ATM networks or offer mobile deposit—but they're not as convenient as having a physical location nearby.
If your business regularly handles cash or needs services that online banks don't offer, a traditional bank with branches might be worth the slower opening process. If you mostly transfer money electronically and rarely need in-person service, an online bank is faster and often cheaper.
Frequently Asked Questions
Can I open a business checking account online if my business is brand new?
Some online banks will, but many prefer businesses with at least three to six months of operating history. Axos Bank is more flexible with new businesses than Brex or Mercury. Traditional banks are sometimes willing to open accounts for brand-new businesses if you visit in person and can explain what you do.
Do I need an EIN to open a business checking account online?
Not always. Sole proprietors can use their Social Security Number instead. However, most online banks prefer an EIN because it keeps your personal and business finances separate. You can get an EIN from the IRS website in about 10 minutes.
What if I don't have a physical business address?
You need some address for the account—a home address, a coworking space, or a virtual office address. Banks require proof of that address (a utility bill or lease) dated within the last 90 days. A PO box alone won't work.
Can I use an online bank account if I need to deposit cash?
Most online banks don't have ATMs or tellers, so cash deposits are difficult. Some partner with ATM networks or offer mobile check deposit. If you handle a lot of cash, a traditional bank with branches is more practical.
How long does it take to get my debit card after opening an account?
Online banks usually mail a debit card within three to five business days. Some offer a temporary digital card you can use when ready in your phone's wallet. Traditional banks sometimes hand you a card the same day you open the account in the branch.