What you need before you walk into a bank
An LLC bank account requires the bank to verify that your business exists as a legal entity separate from you personally. This means you cannot straightforward show up with your driver's license and open an account under your business name. Banks need to see that the LLC was actually formed—which means paperwork filed with your state.
The core documents are your Articles of Organization (the state filing that created your LLC) and an EIN letter from the IRS (proof that your business has a federal tax ID number). Some banks also ask for an Operating Agreement, which is the internal rulebook for how your LLC operates. A few banks will accept a bank-generated form instead if you do not have a formal Operating Agreement on file.
You will also need a government-issued ID showing your name and address, and you should bring the person who is authorized to sign on the account. If multiple people will have signing authority, bring them all, or bring documentation showing who has authority to open accounts on behalf of the LLC.
Key Takeaways
- You must have your Articles of Organization filed with your state and an EIN from the IRS before any bank will open an LLC account.
- Bring your Articles of Organization, EIN letter, and a government ID; some banks also ask for an Operating Agreement or will provide a substitute form.
- The person opening the account must be authorized to do so under your LLC's Operating Agreement or state law, and banks may ask for proof of that authority.
- Minimum deposit amounts and monthly fees vary widely by bank and account type, so compare options before you commit.
- The account opening process typically takes one business day in-branch or three to five business days online, though funding the account may take longer.
Getting your EIN if you do not have one yet
Your EIN is a nine-digit number issued by the IRS that identifies your business for tax purposes. You can obtain one free of charge through the IRS website, by phone, or by mail. The fastest route is the IRS online tool at irs.gov/ein, which issues your number when ready after you answer a series of questions about your business structure and ownership.
When you explore, the IRS will ask for your LLC's legal name (the name on your Articles of Organization), the state where it was formed, the names and Social Security numbers of all owners, and the primary business activity. If you formed your LLC recently, you can explore as soon as your Articles of Organization are filed with your state—you do not have to wait for any confirmation letter.
Once you receive your EIN, the IRS will mail you a formal letter confirming it. Some banks will accept the number itself and look it up in their system, but most want to see the printed letter. If you applied online, you can print a copy of your confirmation page when ready; if you applied by phone or mail, keep the letter the IRS sends you.
Which documents the bank will actually ask for
Banks vary in what they require, but the baseline is consistent: proof that your LLC exists and proof of your tax ID. The following table shows what most banks ask for and what you can substitute if you do not have the original:
| Document | What it proves | Acceptable substitutes |
|---|---|---|
| Articles of Organization (filed copy from your state) | Your LLC was legally formed | Certificate of Good Standing from your state; some banks accept a screenshot of your state's business database showing your LLC |
| EIN letter from the IRS | Your federal tax ID | Printed confirmation from irs.gov/ein; some banks will look up your EIN directly if you provide the number |
| Operating Agreement | Who has authority to open accounts and sign checks | Bank-provided resolution form signed by all owners; some banks skip this entirely if you are a single-member LLC |
| Government-issued photo ID | Your identity | Driver's license, passport, or state ID card |
Call the specific bank branch where you plan to open the account and ask what they need. Banks in the same chain sometimes have different requirements, and online banks often ask for fewer documents than branches do. Having extra copies of everything saves a trip back home if the bank asks for something you did not bring.
The difference between opening in person and online
In-person accounts at a physical branch typically open the same day. You bring your documents, the bank verifies them, you sign the account agreement, and the account is active. Some banks will fund it when ready if you deposit cash or a check; others may hold the funds for a few business days while they clear.
Online accounts take longer because the bank cannot verify your identity in real time. Most online banks ask you to upload photos of your documents (Articles of Organization, EIN letter, and ID), then wait for a person to review them. This usually takes one to three business days. Some online banks also require you to verify your identity through a video call with a representative, which adds another day or two.
Online accounts are often cheaper—many have no monthly fee and no minimum balance—but they come with limits on what you can do. You may not be able to deposit cash, and some online banks do not offer business checks or credit cards. If your business needs to handle cash regularly or you want a full range of business services, a branch account is usually more practical despite the higher fees.
What happens after you open the account
Once the account is open, the bank will issue you a debit card and checks within one to two weeks. You will receive online banking access when ready (or within a few hours for online banks). Some banks require you to set up a username and password before you leave the branch; others email you a link to do it at home.
If you need to transfer money from a personal account or another business account into your new LLC account, you can do this through ACH transfer (which takes one to three business days) or by depositing a check. Wire transfers are also available but usually cost $15 to $30 and are faster—typically same-day or next-day.
Keep your Articles of Organization and EIN letter in a safe place. You will need them again if you open additional accounts, explore for business credit, or if the bank asks you to re-verify your information later. Some banks ask for re-verification every few years as part of their compliance process.
Common reasons banks reject LLC applications
The most common rejection is a mismatch between the name on your Articles of Organization and the name you give the bank. If your LLC is legally named "Smith Consulting LLC" but you tell the bank "Smith Consulting," they may reject the process. Use the exact legal name from your state filing.
Banks also reject applications when the person opening the account is not authorized to do so. If you are opening an account for an LLC you do not own, you need a document showing you have authority—usually a resolution from the LLC's owners or a copy of the Operating Agreement showing your role. Single-member LLCs (where you are the only owner) rarely have this problem, but multi-member LLCs often do.
A third common issue is an incomplete or unverified EIN. If you applied for your EIN very recently, the IRS database may not have updated yet, and the bank's system cannot find it. If this happens, ask the bank if they will accept a printed confirmation from irs.gov instead of waiting for the formal letter.
Comparing costs and features across banks
Business checking accounts vary widely in cost. Some banks charge $10 to $25 per month; others charge nothing. Monthly fees often depend on your average balance or the number of transactions you make. A few banks waive fees if you maintain a minimum balance (typically $1,000 to $5,000) or set up direct deposit.
Beyond the monthly fee, compare what each account includes: the number of free checks per month, whether you can deposit cash, whether the bank offers business credit cards or loans, and whether they charge for wire transfers or ACH transfers. If you plan to process customer payments, ask whether they offer merchant services (credit card processing) and what the rates are.
Online banks are usually cheaper but offer fewer services. Traditional banks charge more but give you access to a branch, a relationship manager, and a wider range of business products. The right choice depends on how much you will actually use the bank beyond basic checking and savings.
Frequently Asked Questions
Can I use my personal bank account for my LLC instead of opening a separate one?
Legally, no. Mixing personal and business money defeats the main legal protection an LLC provides—liability separation. If you get sued, a court may "pierce the corporate veil" and go after your personal assets if you have not kept business and personal finances separate. Banks also will not let you deposit business checks into a personal account under your name.
What if I do not have an Operating Agreement yet?
Most banks will let you open an account without one, especially if you are the sole owner. If the bank asks for one and you do not have it, ask if they provide a bank resolution form instead—this is a one-page document you sign that gives the bank permission to open the account. If you have multiple owners, you may need to get a formal Operating Agreement drafted before the bank will proceed.
How long does it take to get my EIN?
If you explore online at irs.gov/ein, you receive your number when ready and can print a confirmation page on the spot. If you explore by phone, you get the number during the call. If you explore by mail, it takes two to four weeks. For opening a bank account, the online or phone method is fastest.
Do I need a business license before I open a bank account?
No. A bank account requires only your Articles of Organization and EIN. A business license is a separate requirement that depends on your industry and location, but it is not needed to open the account. Some banks do ask whether you have one, but they will not reject your process if you do not.
What if the bank says my EIN does not exist in their system?
This usually means the IRS database has not updated yet, which can take a few days after you explore. Ask the bank if they will accept a printed confirmation from irs.gov or the IRS letter instead of a database lookup. If you applied very recently, you may need to wait a few days and try again, or call the bank's business services line to see if they can manually verify your EIN.