The documents and information banks will ask for
To open a business checking account, you will need to bring or provide your Employer Identification Number (EIN) — a nine-digit number the IRS assigns to your business. If you do not have one yet, you can request it free from the IRS website or by phone before you visit the bank. You will also need a government-issued photo ID, usually your driver's license or passport.
Banks will ask for proof that your business exists. This means bringing a copy of your business license, articles of incorporation (if you formed an LLC or corporation), or a DBA certificate (if you are operating under a name different from your legal name). Some banks accept a recent business tax return or a letter from the IRS confirming your EIN instead.
You will need to know your business structure — whether you are a sole proprietor, partnership, LLC, S-corporation, or C-corporation. This affects how the account is set up and what tax forms the bank files. If you are unsure, the person who helped you register your business or your accountant can tell you.
Key Takeaways
- You must have an Employer Identification Number (EIN) from the IRS, which you can request free before opening the account.
- Bring a government-issued photo ID and proof your business exists, such as a business license or articles of incorporation.
- Different banks require different minimum balances and charge different monthly fees, so comparing banks before you go saves money.
- Some banks require a personal may provide, meaning you are personally responsible if the business cannot pay what it owes.
- The whole process usually takes 15 to 30 minutes in person, or one to three business days if you open the account online.
Information about your business the bank will need
The bank will ask basic facts about how your business operates. Be ready to describe what your business does, how long it has been running, and roughly how much money you expect to move through the account each month. If your business is brand new, saying "I am just starting" is fine — banks open accounts for new businesses regularly.
You may be asked about other owners or signers. If more than one person will have access to the account, the bank needs their names, addresses, and identification. Some banks limit how many people can sign checks or withdraw money, so ask about this if multiple people need access.
The bank will also ask whether you have had a business account before, and if so, where. This is routine — they are checking whether you have a history of managing business accounts responsibly. If this is your first account, straightforward say so.
Personal information the bank requires
Even though this is a business account, the bank will ask for your personal information because you are the owner. You will need your Social Security number, date of birth, and current address. The bank uses this to run a background check and verify you are who you say you are.
If you are opening the account in person, bring the documents themselves. If you are opening online, you will upload photos of your ID and any other documents. Make sure the photos are clear and show all four corners of the document — blurry or cropped images slow down the process.
Minimum balance and initial deposit requirements
Different banks have different rules about how much money you must keep in the account. Some banks have no minimum balance at all. Others require you to maintain a set amount — this might be $500, $1,000, or more — or they charge a monthly fee if the balance falls below that number.
When you open the account, the bank will tell you the minimum balance requirement and what happens if you fall below it. Read this carefully, because fees add up quickly. A $10 monthly fee costs $120 a year. If you know your business will have a small balance most months, choose a bank with no minimum or a low one.
You will also need to make an initial deposit to fund the account. This can be as small as $25 at some banks, or $100 or more at others. Ask what the minimum is before you go, so you bring enough cash or a check to cover it.
What happens if you cannot provide all documents
If you do not have an EIN yet, stop and request one before you visit the bank. The IRS issues EINs free and when ready by phone (you can call and get one the same day), or you can request one online and receive it by mail within two weeks. No bank will open a business account without an EIN.
If you do not have a business license yet because your business is brand new, ask the bank whether they will open the account with just your EIN and a signed statement that you are forming the business. Many will. Bring whatever proof you do have — even an email confirming your business name registration helps.
If you are missing your original articles of incorporation or DBA certificate, call the office where you registered your business (usually your state's Secretary of State or your county clerk) and ask them to email you a certified copy. This usually costs $5 to $15 and takes a few business days. In the meantime, you can ask the bank whether they will accept a screenshot of your online registration or a letter from the state confirming your business exists.
Personal may provide and liability questions
Some banks will ask you to sign a personal may provide. This is a promise that if your business cannot pay money it owes the bank, you will pay it personally using your own money and assets. Not all banks require this — it depends on the bank and sometimes on how new your business is.
Before you sign, ask the bank to explain exactly what you are guaranteeing. Are you responsible only for overdrafts, or for loans and credit lines too? Understanding this matters because it means your personal savings could be at risk if the business fails. If you are uncomfortable with a personal may provide, ask whether the bank offers accounts without one, or shop at a different bank.
Opening the account in person versus online
Opening in person at a bank branch takes 15 to 30 minutes. You bring your documents, the banker reviews them while you wait, and you walk out with a debit card and checks ordered. This is the fastest way if you have all your documents ready.
Opening online takes longer but is more convenient. You upload photos of your documents, answer questions, and sign forms electronically. The bank then reviews everything, which usually takes one to three business days. Once approved, they mail you a debit card and checks, which adds another week. Some banks let you start using the account before the physical card arrives.
If you are opening online, make sure your documents are clear and readable. Blurry photos or missing pages cause delays. Also, have your phone or computer ready — some banks require you to verify your identity by video call as part of the online process.
Frequently Asked Questions
Do I need a business license to open a business checking account?
You need proof your business exists, but a business license is not the only way to prove it. An EIN letter from the IRS, articles of incorporation, or a DBA certificate all work. If you are just starting and do not have any of these yet, call the bank and ask what they will accept — many will open the account with just an EIN and a signed statement that you are forming the business.
What if I am a sole proprietor and do not have an EIN?
You can use your Social Security number instead of an EIN if you are a sole proprietor with no employees. However, most banks prefer an EIN because it keeps your personal and business finances more separate. Requesting an EIN is free and takes a few minutes by phone or online, so it is worth doing even if you do not technically need one.
Can someone else open the account for me if I cannot go to the bank?
No. The bank needs to verify your identity in person or by video, so you must be present. If you are opening online, you can do this from home. If you are opening in person, you have to go to the branch yourself — the bank cannot accept documents from someone else.
What if the bank rejects my documents?
Ask the banker exactly what is wrong. Common reasons are blurry photos, missing information, or documents that are too old. If your business license expired, you may need a new one. If your photo ID is about to expire, bring it anyway — most banks accept IDs within six months of expiration. The banker can tell you what to fix and whether you can resubmit or need to start over.
Do I need a separate account if I have multiple businesses?
Yes, each business should have its own checking account. This keeps the money and records separate, which makes taxes and accounting much simpler. If you have two businesses, you will open two accounts, and you will need an EIN for each one.