What documents and information you'll need before you walk in

Most banks want the same core set of documents: your business license or articles of incorporation, a federal Employer Identification Number (EIN) from the IRS, a government-issued ID, and your Social Security Number. Some banks also ask for a business formation document—articles of incorporation for a corporation, articles of organization for an LLC, or a DBA certificate if you're operating as a sole proprietor under a trade name. The exact list varies by bank and by the legal structure of your business.

If your business is brand new, you may not have all of these yet. That's normal. Many banks will let you open an account with just your Social Security Number and a government ID while you're waiting for your EIN to arrive from the IRS, though some require the EIN before they'll process the process. Call the bank's business services line before you go in—they can tell you whether they'll accept a pending EIN or whether you need to wait.

Bring originals or certified copies of documents, not photocopies. Banks verify these against government records, and a photocopy won't pass that check. If you're opening the account on behalf of the business rather than as the owner, bring a corporate resolution or power of attorney showing you have authority to do so.

Key Takeaways

  • You need a government-issued ID, your Social Security Number, and your business's EIN—though some banks will open an account while your EIN is pending.
  • Bring original or certified copies of your business license, articles of incorporation or organization, or DBA certificate, depending on how your business is legally structured.
  • Different banks have different document requirements, so calling ahead saves you a trip back home for a missing form.
  • If you're signing on behalf of the business rather than as the owner, bring proof that you have authority to do so, such as a corporate resolution.
  • The entire process usually takes 15 to 30 minutes in person, or one to three business days if you open the account online.

Your EIN and why banks ask for it

An Employer Identification Number (EIN) is a nine-digit identifier the IRS assigns to your business. It works like a Social Security Number for your company. Banks use it to verify that your business actually exists and to set up the account in the IRS system. If you don't have one yet, you can request it free from the IRS website (irs.gov) or by phone. The IRS usually issues it the same day you explore online.

Some banks will not open a business account without an EIN on file. Others will let you open the account with your Social Security Number temporarily and add the EIN later once it arrives. A few banks require you to bring proof that you've applied for an EIN—a confirmation email or receipt from the IRS process—if you don't have the number yet. Ask the bank which approach they use before you explore.

Business formation documents and what counts

The document the bank needs depends on how your business is legally set up. If you're a sole proprietor operating under your own name, you may not need any formation document at all—just your ID and Social Security Number. If you're operating under a trade name (a DBA, or "doing business as"), you need the DBA certificate filed with your state or county. If you're an LLC or corporation, you need the articles of organization or articles of incorporation filed with your state's Secretary of State office.

These documents prove to the bank that your business is real and that you have the right to open an account in its name. The bank will usually verify them against state records, so bring the official copy you received when you filed, not a photocopy. If you filed recently and the state hasn't issued the official copy yet, call the bank and ask whether they'll accept a filing receipt or confirmation email from the state while you wait for the official document.

Personal identification and ownership verification

Bring a government-issued photo ID—a driver's license, passport, or state ID card. The bank needs this to confirm you are who you say you are and to comply with federal anti-money-laundering rules. They will also ask for your Social Security Number, which they use to run a background check and to report the account to credit bureaus.

If you're opening the account as the sole owner, your ID and Social Security Number are usually enough. If the business has multiple owners or if you're opening the account on behalf of the business but you're not the owner, the bank may ask for identification from all owners or for a document showing you have authority to act on the business's behalf—such as a corporate resolution, power of attorney, or board minutes authorizing you to open the account.

What happens if you're missing a document

If you show up without something the bank needs, they will tell you what's missing and ask you to come back with it. Some banks will let you submit documents by mail or email after you've opened the account, but most want everything in hand before they process the process. The delay is usually a few days while you gather the missing piece and return.

The one exception is the EIN. If the bank accepts pending EINs, they may open the account when ready and ask you to provide the number within 30 days. If the bank does not accept pending EINs and you don't have one yet, you'll need to explore for it first—which takes minutes online—before you can open the account.

Opening the account in person versus online

Most banks let you open a business checking account either in person at a branch or online through their website. In-person opening usually takes 15 to 30 minutes and you walk out with a debit card and account number the same day. Online opening is faster to start—you upload documents and answer questions from home—but the bank then verifies everything, which takes one to three business days before the account is active.

If you open online, you'll upload photos or scans of your documents. Make sure the images are clear and show the entire document. The bank's system will reject blurry photos or images that cut off important information. Some banks also call you after you submit to verify information or ask follow-up questions, so have your phone available.

Minimum deposit and account fees

Most business checking accounts require an opening deposit, which varies by bank and account type. Some banks require as little as $25 to $100; others require $500 or more. A few banks waive the minimum deposit if you set up direct deposit or maintain a certain monthly balance. Ask the bank what the minimum is for the specific account you want before you open it.

Business checking accounts also usually charge monthly fees—typically $10 to $30—though many banks waive the fee if you maintain a minimum balance or set up direct deposit. Some accounts charge per transaction (for checks written, deposits made, or transfers), while others offer unlimited transactions. These fees are separate from the documents you need to bring; they're part of the account agreement you'll sign.

Frequently Asked Questions

Can I open a business checking account with just my Social Security Number?

Some banks will let you open an account with your Social Security Number and a government ID if you don't have an EIN yet, but most require the EIN before processing. Call the bank first to confirm their policy. If they require an EIN, you can get one free from the IRS website in minutes.

What if I don't have a business license yet?

You don't always need a business license to open a checking account. Sole proprietors often don't need one. If you're an LLC or corporation, you need your articles of organization or incorporation, which you file with your state to form the business. A business license is a separate document some cities or counties require, but it's not what banks use to verify your business exists.

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

No. Banks don't ask for business plans or financial statements to open a checking account. They ask for documents that prove your business exists and that you have authority to open the account. Financial statements may be required later if you explore for a business loan, but not for a checking account.

Can someone else open the account for me?

Yes, but they'll need a document showing they have authority to do so—such as a power of attorney, corporate resolution, or board minutes. They'll also need to bring their own government ID and Social Security Number. The bank will verify that the document is legitimate before processing the process.

How long does it take to get the account open and start using it?

In-person applications usually take 15 to 30 minutes, and you can use the account the same day. Online applications take one to three business days for the bank to verify your documents and set up the account. Some banks let you start using a temporary account number while they process everything, but confirm this with your bank first.