Banks and credit unions that let you open online

You can open a business checking account entirely online at most national banks, many regional banks, and some credit unions. The largest options — Chase, Bank of America, Wells Fargo, and Citibank — all have online business account setup. Smaller banks like Axos, Ally, and LendingClub also offer full online opening. Credit unions vary widely: some let you open remotely if you live in their service area, while others require an in-person visit.

The real difference is not whether a bank offers online opening, but what documents they need before you can finish. Most banks will let you start the process online but may ask you to mail in documents, visit a branch, or use a video call to verify your identity. A few — notably Axos and some online-only banks — complete the entire process without leaving your computer.

Before you choose a bank, check whether they serve your state. Some regional banks and credit unions only operate in certain areas, and their online opening may not work if you are outside their footprint. The bank's website will usually tell you this upfront, or you can call their business line and ask.

Key Takeaways

  • National banks like Chase and Bank of America let you start a business account process online, though most require you to mail documents or verify your identity by video call afterward.
  • Online-only banks like Axos and Ally complete the entire opening process without requiring a branch visit or mailed documents.
  • Credit unions vary: some allow remote opening for members in their service area, while others require you to visit a branch in person.
  • Check whether the bank operates in your state before starting an process, since some regional banks and credit unions do not serve all areas.
  • You will need your Social Security number, business tax ID (EIN), and proof of business ownership — have these ready before you begin.

What documents you need to have ready

Most banks ask for the same core documents, though the exact list varies. You will need your Social Security number, your business's Employer Identification Number (EIN) — which the IRS issues to most businesses — and proof that you own or operate the business. Proof of ownership usually means a business license, articles of incorporation, or a DBA (Doing Business As) certificate from your state.

Banks also ask for a government-issued photo ID, usually a driver's license or passport. Some banks want to see a recent business address, which can be your home address if you work from home. A few banks ask for a business plan or description of what your business does, though this is less common for straightforward checking accounts.

Have all of these documents in digital form — scanned or photographed — before you start the process. The process moves faster if you can upload them when ready rather than hunting for them mid-process. If you do not have an EIN yet, you can get one free from the IRS website in about 15 minutes, and most banks will let you use your Social Security number temporarily while you wait for the EIN to arrive.

How the online opening process actually works

The process usually starts with a form on the bank's website where you enter your name, business name, and contact information. The bank then asks about your business structure — whether you are a sole proprietor, partnership, LLC, or corporation — because this affects which tax forms they need from you.

After you submit the initial form, the bank either approves you to move forward or asks for more information. If approved, you upload your documents. Some banks review these when ready and send you account details within hours. Others send them to a person who reviews them within one to three business days.

Many banks require a video call at this stage, usually through a link they email you. A bank employee will ask you to show your ID, confirm your address, and answer questions about your business. This call typically takes 10 to 15 minutes. A few banks skip the video call entirely if your documents are clear and your identity verification passes their automated checks.

Once approved, the bank sends you your account number and routing number by email or mail. You can usually start using the account when ready for transfers and bill pay, though some banks hold the account for 24 hours before you can deposit checks or receive wire transfers.

Online-only banks versus traditional banks with branches

Online-only banks like Axos, Ally, and LendingClub complete the entire opening process without requiring you to visit a location or mail anything. They use video verification and automated document review, so you can have an account number within a few hours. The trade-off is that you cannot deposit cash or speak to someone in person if something goes wrong.

Traditional banks with branches — Chase, Bank of America, Wells Fargo — let you open online but often require you to mail documents or visit a branch to verify your identity. This takes longer, usually one to five business days. The benefit is that you can walk into a branch if you need to deposit cash, speak to someone face-to-face, or resolve a problem quickly.

Some regional banks split the difference: they let you open online and verify by video call, but they do not require a branch visit. These banks often have lower fees and more personalized service than national banks, though they may not have branches near you.

What happens if you cannot open online

If a bank does not serve your state or does not offer online opening, you will need to visit a branch in person. Bring your ID, your business documents, and your Social Security number or EIN. The process takes about 30 minutes, and you usually leave with a temporary debit card and account number the same day.

If you live far from any branch of the bank you want, consider opening with an online-only bank instead. You lose the ability to deposit cash in person, but you gain the ability to open without traveling. Many small business owners use an online bank for their main account and a local bank for cash deposits.

Some credit unions let you open an account online if you are already a member of another credit union in their network. This is called a shared branching network. If you belong to a credit union, ask whether they participate in shared branching — it may give you access to banks you did not know about.

Fees and minimum balances to watch for

Online-only banks typically charge no monthly fee and have no minimum balance requirement. Traditional banks often charge $10 to $25 per month unless you maintain a minimum balance, usually $1,000 to $5,000. Some banks waive the fee if you set up direct deposit or keep a certain amount in savings.

Ask about fees for specific things you know you will do: wire transfers, stop payments, overdrafts, and returned checks. Some banks charge $15 to $30 per wire transfer, while others include a few free transfers per month. If you plan to write many checks, make sure the bank does not charge per check.

The monthly fee is not the only cost. Some banks charge to close an account if you close it within a certain time period, usually six months to a year. Read the fee schedule before you open, not after.

How long it takes from start to finish

Online-only banks can complete the process in a few hours to one business day. You submit your process, upload documents, complete a video call if needed, and receive your account number by email. You can start using the account when ready for transfers and bill pay.

Traditional banks usually take one to five business days. You submit your process online, they ask you to mail documents or visit a branch, they review everything, and then they send you your account details. Some banks are faster if you visit a branch in person — you can walk out with an account number the same day.

The slowest part is usually the document review and identity verification, not the process itself. If the bank has questions about your documents or cannot verify your identity automatically, the process can stretch to two weeks. This is rare, but it happens if your documents are unclear or if your name does not match your ID exactly.

Frequently Asked Questions

Can I open a business checking account if I do not have an EIN yet?

Yes. Most banks will let you use your Social Security number temporarily while you wait for your EIN to arrive from the IRS. You can get an EIN free and when ready on the IRS website. Once it arrives, you can update your account information. Some banks ask you to provide the EIN within 30 days.

Do I need to be a registered business to open a business checking account?

Not always. Sole proprietors can open a business account using just their Social Security number and a business name. You do not need to register with your state first, though many banks ask for a business license or DBA certificate if you have one. Partnerships, LLCs, and corporations do need formal registration before opening an account.

What if the bank rejects my process?

Banks usually reject applications because of identity verification issues, unclear documents, or a problem with your business history. Ask the bank why you were rejected — they are required to tell you. You can then fix the problem and try again, or try a different bank. Some banks are stricter than others about what they accept.

Can I open a business account online if I live outside the United States?

Most U.S. banks require you to have a U.S. address and a U.S. tax ID. If you are a non-resident, some banks will not open an account for you at all. A few banks serve non-residents but require additional documentation. Call the bank's business line and ask before you start the process.

Do I need a separate business account, or can I use my personal account?

You can legally use a personal account for business, but it makes taxes harder and can complicate liability protection if your business is an LLC or corporation. A separate business account keeps your finances clear and makes tax time simpler. Most banks make business accounts straightforward to open, so it is worth doing.