What you need before you walk into a bank

You will need to bring proof that your business exists as a legal entity, proof of your identity, and the names and identification of anyone who will sign checks or move money. The exact documents depend on your business structure — a sole proprietorship needs different paperwork than an LLC or corporation — and the bank you choose. No bank will open an account on a phone call alone; you have to show up in person or complete their online process with uploaded documents.

Start by gathering your Employer Identification Number (EIN), which the IRS issues to all businesses except sole proprietorships that have no employees. If you are a sole proprietor with no employees, you can use your Social Security Number instead. You will also need a government-issued ID — a driver's license or passport — and your Social Security Number or EIN.

If other people will have access to the account, bring their government-issued IDs and Social Security Numbers as well. Banks verify this information before opening the account, so accuracy matters. If you have not yet registered your business with your state, some banks will still open an account, but most require at least a business license or registration certificate.

Key Takeaways

  • You must bring a government-issued ID, your EIN or Social Security Number, and proof your business is registered with your state — most banks will not open an account without all three.
  • The documents you need vary by business structure: sole proprietors need less paperwork than LLCs or corporations, which must bring articles of organization or incorporation.
  • You can open an account in person at a branch, by mail with uploaded documents, or entirely online depending on the bank — online is usually fastest but requires a working camera for ID verification.
  • The account opens on the day you complete the process, but checks and debit cards take five to ten business days to arrive by mail.
  • If you have a poor personal credit history or prior banking problems, some banks will decline you; community banks and credit unions often have more flexible standards than national chains.

Documents you need by business structure

Sole proprietors need the least paperwork. Bring your driver's license or passport, your Social Security Number, and proof of a business license or DBA (doing business as) registration if your state requires one. Many states do not require sole proprietors to register, so a business license from your city or county is usually enough. If you have an EIN, bring that too, though it is not required.

Partnerships need a copy of the partnership agreement, the names and IDs of all partners, and proof the partnership is registered with your state. Each partner does not have to be present, but the bank will verify that all partners exist and have authorized the account.

LLCs must bring the articles of organization filed with your state, the names and IDs of all members, and proof of your EIN. If the LLC has a manager who is not a member, bring their ID as well. The bank will call your state's secretary of office to verify the articles are real.

Corporations need the articles of incorporation, corporate bylaws, a corporate resolution authorizing the account (a document signed by the board saying the corporation approves opening this account), and the names and IDs of all officers and directors. This is the heaviest paperwork load. If you do not have a corporate resolution, the bank can provide a template.

In-person, by mail, or online: which route is fastest

Opening in person at a branch takes about 30 minutes. You sit with an account officer, hand over your documents, and the account opens that day. Checks and a debit card arrive in five to ten business days. This is the most straightforward route if you have all your documents ready and a branch near you.

Opening by mail takes longer but works if you cannot visit a branch. You request an application from the bank's website, fill it out, scan or photograph your documents, and mail everything back. The bank reviews your paperwork, calls you to verify information, and opens the account once everything checks out — usually two to three weeks total. Some banks now accept uploaded documents instead of mailed copies, which cuts the timeline to five to seven business days.

Opening entirely online is the fastest if the bank offers it. You fill out the application on their website, upload photos of your ID and documents, and verify your identity through a video call or by answering security questions. The account opens the same day or the next business day. However, not all banks offer online business account opening, and those that do often have limits on account types or business sizes.

Call the bank before you start and ask which route they support for your business structure. A sole proprietorship can usually open online; a corporation almost always requires in-person or mailed documents because the bank needs to verify the corporate resolution.

What happens after you open the account

Your account number and routing number are available immediately, either on screen or in a confirmation email. You can start receiving wire transfers and ACH deposits (like payroll) the same day. However, you cannot write checks or use a debit card until they arrive in the mail, which takes five to ten business days.

If you need to write checks before the bank's checks arrive, ask the bank for a temporary check number or a starter checkbook. Some banks provide these on the spot; others charge a small fee or require you to order them separately. Do not write checks on an account that does not yet have check stock, even if you have the account number — the check will bounce.

The bank will also ask about your expected monthly deposits and withdrawals. This is not a binding commitment; they use it to flag unusual activity later. If you suddenly deposit $50,000 when you said you would deposit $5,000 a month, the bank may freeze the account while they investigate, so give them a realistic estimate.

Banks that are easier to work with if you have banking problems

National banks like Chase, Bank of America, and Wells Fargo run background checks and often decline applicants with prior overdrafts, bounced checks, or accounts closed due to fraud. If you have been declined by a national bank, try a community bank or credit union instead. These institutions often have more flexible standards and care more about your current situation than your history.

Community banks are smaller, locally owned institutions. They usually require you to visit a branch in person, but they are more willing to work with business owners who have had banking problems. Credit unions are member-owned and often have lower fees. You may have to join the credit union first (which costs nothing or a small deposit), but membership is usually open to anyone in a certain geographic area or profession.

Online banks like Stripe, Square, or Wise offer business accounts with minimal paperwork, but they do not offer check-writing or in-person service. They work well if you do most of your business online and do not need physical checks.

Why a bank might decline you

Banks check your personal credit history, your banking history, and whether you appear on the OFAC list (a government list of people and businesses with sanctions or legal holds). They also verify that your business actually exists by checking your state's business registry.

You will be declined if your personal credit score is very low (below 500), if you have multiple closed accounts due to overdrafts or fraud, if you owe money to another bank, or if your business registration cannot be verified. You may also be declined if the bank suspects money laundering — for example, if you say you run a consulting business but plan to deposit $100,000 a month in cash with no clear source.

If you are declined, ask the bank why. They are required to tell you. If it is a credit issue, you can work on that and reapply in six months. If it is a verification issue, you can provide more documentation. If it is a suspicion of illegal activity, you will need to explain your business model clearly and provide documentation of your income sources.

Fees and what to watch for

Most business checking accounts have a monthly fee, usually $10 to $30, though some banks waive it if you maintain a minimum balance or set up direct deposit. Ask about the fee structure before you open the account. Some banks charge extra for wire transfers, ACH transfers, or checks written over a certain number per month.

Read the fine print about overdraft fees. Business accounts often charge $30 to $40 per overdraft, and some banks charge multiple times per day if you overdraw by a large amount. Set up alerts so the bank texts or emails you when your balance drops below a certain level.

Ask whether the bank reports your account activity to business credit bureaus like Dun & Bradstreet. If they do, paying on time and maintaining a positive balance will build your business credit score, which affects your ability to borrow later. If they do not, the account will not help your credit but also will not hurt it.

Frequently Asked Questions

Do I need an EIN to open a business account?

No, but it helps. Sole proprietors can use their Social Security Number instead. However, an EIN keeps your personal and business finances separate for tax purposes and is free to get from the IRS. If you plan to hire employees or form an LLC or corporation, you will need an EIN anyway, so getting one before you open the account saves time.

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

Most banks require proof of registration, but some will open an account if you show them a business license or a receipt showing you have filed for registration. Call ahead and ask what the bank accepts. If you have not registered yet, do that first — it takes a few days to a few weeks depending on your state.

How long does it take to get checks after I open the account?

Five to ten business days is standard. If you need checks sooner, ask the bank for a temporary check number or starter checkbook. Some banks charge $15 to $25 for expedited checks that arrive in two to three business days.

What if I am the only person who will use the account?

You still need to bring your ID and EIN or Social Security Number. You do not need to add anyone else as a signer. However, if you want someone else to be able to access the account in an emergency, add them as an authorized user or signer when you open the account rather than later — it is faster and requires less paperwork.

Can I open a business account online if I have an LLC?

Some banks allow it, but many require you to mail in a copy of your articles of organization or come to a branch. Call the bank and ask whether they support online opening for LLCs. If they do not, you can still open by mail or in person — in-person is usually fastest.