What you need before you walk in

A commercial checking account is a bank account registered to your business rather than to you personally. Banks treat them differently from personal accounts—they require proof your business exists, proof of your ownership stake, and identification for anyone who will sign checks or move money. You cannot open one with just your Social Security number and a driver's license the way you can with a personal account.

The exact documents vary by bank and by business structure, but most banks will ask for the same core set. Have these ready before you contact a bank: your business license or articles of incorporation (depending on whether you are a sole proprietor, LLC, partnership, or corporation), your Employer Identification Number (EIN) from the IRS, and a government-issued ID for each owner or authorized signer. If your business is brand new and you do not yet have an EIN, you can get one the same day by explore online at irs.gov—it takes about 15 minutes and the number arrives when ready.

Some banks also ask for a recent business tax return, proof of your business address (a utility bill or lease in the business name works), and a resolution or authorization document showing who is allowed to sign on the account. Smaller banks and credit unions are often more flexible about documentation, especially for new businesses. Larger national banks tend to have stricter requirements and longer approval timelines.

Key Takeaways

  • You will need your business license or articles of incorporation, your EIN, and a government ID for each owner or authorized signer before any bank will open the account.
  • If you do not yet have an EIN, you can obtain one free the same day through irs.gov, which takes about 15 minutes.
  • Larger national banks typically require more documentation and take longer to approve than local banks or credit unions.
  • The account approval process usually takes three to five business days once you submit all required documents, though some banks may take up to two weeks.
  • Monthly fees for commercial checking accounts range widely depending on the bank and account type, so compare fee structures before committing.

Documents each business structure needs

What you bring to the bank depends on how your business is legally organized. A sole proprietorship requires the least paperwork: your business license (if your state requires one), your EIN, and your personal ID. Some banks will also ask for a DBA (Doing Business As) certificate if you operate under a name different from your legal name. A few banks will let you open a sole proprietor account with just your Social Security number instead of an EIN, but most now require the EIN.

An LLC or partnership requires your articles of organization or partnership agreement, your EIN, and a government ID for each member or partner. Many banks also ask for a resolution or certificate of authority showing which members are authorized to sign checks and move money. If you do not have a formal resolution, some banks will accept a signed statement from all owners saying who has signing authority.

A corporation (C-corp or S-corp) requires your articles of incorporation, your EIN, and corporate bylaws or a board resolution authorizing the account and naming the signers. You will also need a government ID for each authorized signer. Banks are stricter about corporate documentation because they need proof that whoever is signing actually has the legal right to bind the company.

A nonprofit organization needs its articles of incorporation, its IRS information letter (the document proving it is tax-exempt), its EIN, and a board resolution authorizing the account. Some banks also ask for the nonprofit's bylaws and a list of board members.

Where to open the account and what to expect

You have three main options: a national bank (like Chase, Bank of America, or Wells Fargo), a regional or community bank, or a credit union. National banks offer the most locations and online tools, but they often have higher monthly fees and stricter documentation requirements. Community banks and credit unions typically have lower fees and faster approval, but fewer branches and sometimes less sophisticated online banking.

Call or visit the bank's website first to confirm they offer commercial checking and what documents they need. Many banks now let you start the process online, upload documents, and then come in to verify your ID and sign paperwork. Some still require you to visit in person from the start. Ask whether the bank can approve you the same day or if you need to wait for underwriting—this varies widely.

When you go in (or meet virtually), bring originals or certified copies of your documents. The bank will verify your ID, confirm the business exists, and check that the people signing the account authorization are actually the owners or authorized signers. They will also run a background check and check your business credit history if you have one. Approval usually takes three to five business days, though some banks take up to two weeks.

Monthly fees and account features to compare

Commercial checking accounts are not free. Monthly maintenance fees typically range from $10 to $50 depending on the bank and account tier, though some banks waive the fee if you maintain a minimum balance (often $1,000 to $5,000) or set up direct deposit. Beyond the monthly fee, watch for per-check charges (usually $0.10 to $0.25 per check if you write more than a certain number), wire transfer fees ($15 to $30 per wire), and ACH transfer fees ($0 to $1 per transfer).

Compare what is included in each account tier. A basic commercial checking account might include a debit card, online banking, and a certain number of free transactions per month. Higher tiers often add features like merchant services, payroll processing, or business credit cards. If you plan to process credit card payments, ask whether the bank offers merchant services and what the processing fees are—this can vary from 1.5% to 3.5% of each transaction depending on the card type.

Ask about overdraft protection and what it costs. Some banks offer it automatically; others charge a monthly fee. Overdraft fees themselves typically run $25 to $35 per incident. If you are just starting out, you may not need all these features, so do not pay for services you will not use.

Getting your account set up and ready to use

Once the bank approves your account, you will receive a welcome packet with your account number, routing number, and initial checks (if you ordered them). The routing number is the same for all accounts at that bank; the account number is unique to your account. You will need both to set up direct deposit, arrange wire transfers, or pay bills online.

Set up online banking when ready so you can monitor the account and catch any unauthorized activity. Most banks let you do this on the same day the account opens. You will create a username and password, set up two-factor authentication (usually a code sent to your phone), and link any external accounts you want to transfer money to or from.

If you plan to accept payments from customers, ask the bank about their payment processing options. Many offer online bill pay (free or low-cost), ACH transfers, and merchant services for credit card payments. Some also offer mobile deposit so you can photograph checks and deposit them through your phone. These features are not automatic—you usually have to request them separately.

Order checks if you still need them, though many businesses now rely entirely on online payments and ACH transfers. Checks ordered through the bank are more expensive than third-party check printers but arrive faster. If you order from a third-party printer, make sure you have your routing number and account number correct before you place the order.

What to do if the bank denies your account

Banks sometimes deny commercial checking accounts if the business owner has a poor personal credit history, if there are fraud flags in the background check, or if the business itself has a history of chargebacks or disputes. If you are denied, ask the bank why. They are required to tell you the reason, though they may not give you every detail.

If the denial is based on your personal credit, you can try a different bank—some are more lenient than others. If it is based on the business itself, you may need to wait until the business has a longer track record or until any disputes are resolved. If the denial is based on a background check issue, you can dispute the information with the credit bureau or background check company.

Credit unions are often more willing to work with newer businesses or owners with imperfect credit histories. If a national bank denies you, try a local credit union or community bank. Some also specialize in accounts for high-risk businesses (like cannabis retailers or payment processors), though these accounts come with higher fees and stricter monitoring.

Frequently Asked Questions

Can I open a commercial account if my business is not yet registered?

Most banks will not open an account without proof the business exists—a business license, articles of incorporation, or DBA certificate. However, you can register your business and get an EIN before opening the account, which usually takes a few days. Some banks will hold a spot for you while you complete registration, so call ahead and ask.

Do I need a separate account if I am a sole proprietor?

You are not legally required to, but banks and the IRS both recommend it. A separate account makes tax time easier because all business income and expenses are in one place. It also protects you if there is ever a dispute about what money belongs to the business versus what belongs to you personally.

How long does it take to get checks?

Checks ordered through the bank usually arrive within five to seven business days. Third-party check printers can be faster (sometimes two to three days) or slower depending on the printer. You do not need checks to use the account—you can pay bills and move money online from day one.

What if I need to add or remove a signer later?

Contact your bank and ask for the process. You will typically need to provide a new authorization document (a resolution or signed statement) and a government ID for any new signer. The bank will verify the new signer's identity and run a background check. This usually takes a few business days.

Can I use a commercial account for personal expenses?

Legally, you can, but it is not a good idea. Mixing personal and business money makes taxes harder and can create problems if there is ever a dispute or lawsuit. The whole point of a separate business account is to keep the two separate.