What you need before you walk into a bank
A business bank account requires proof that your business exists as a legal entity separate from you personally. The documents you bring depend on what type of business structure you have — sole proprietorship, LLC, corporation, or partnership — and which bank you choose. Most banks will ask for an Employer Identification Number (EIN), a government-issued ID, and proof of your business address.
If you are a sole proprietor operating under your own name, you may be able to open an account with just your Social Security Number and ID. If you have formed an LLC or corporation, you will need your Articles of Organization or Articles of Incorporation — the document you filed with your state to create the business legally. A partnership needs the partnership agreement or certificate filed with the state.
The EIN is a nine-digit number the IRS assigns to your business. You can get one free from the IRS website or by calling their business line; it takes minutes to apply online and you receive the number immediately. Some banks will let you open an account using your Social Security Number temporarily while you wait for the EIN to arrive by mail, but having the EIN before you go in speeds up the process.
Key Takeaways
- You need proof your business is registered with your state — either a sole proprietorship filing, LLC formation documents, or corporate articles — plus a government-issued ID and your business address.
- An Employer Identification Number (EIN) from the IRS is free and takes minutes to get online; most banks require it, though some will accept your Social Security Number temporarily.
- Different banks have different requirements for minimum deposits, monthly fees, and what documents they accept, so calling ahead saves a trip.
- You will need to bring an original or certified copy of your business formation documents; a photocopy is usually not enough.
- The account typically opens the same day or within one to two business days, and you can start using it once the bank confirms your identity and business status.
Documents to bring in person
Bring originals or certified copies of your business formation documents. A photocopy will not work — banks need to verify that the document is genuine. If you filed your LLC or corporation with your state, you can request a certified copy from your state's Secretary of State office, usually for a small fee, or download a certified version from your state's online business portal.
Bring two forms of government-issued ID. One should be a photo ID like a driver's license or passport. The second can be another photo ID or a document like a utility bill or lease showing your home address. The bank uses these to confirm you are who you say you are and to verify your residential address for their records.
Bring your EIN letter from the IRS or a screenshot of your EIN confirmation if you received it online. If you do not have the EIN yet, call the bank before you go and ask whether they will let you open the account with your Social Security Number and add the EIN later. Some will; others require it upfront.
Bring proof of your business address. This can be a lease, a utility bill in the business name, a property deed, or a letter from your landlord confirming you occupy the space. If you work from home, a utility bill or lease showing your home address usually works.
Choosing between banks and account types
Banks differ in their minimum deposit requirements, monthly fees, and how they handle business accounts. Some require $500 to $1,000 to open; others have no minimum. Monthly maintenance fees range from zero to $15 or more, depending on the bank and account type. Call three or four banks in your area and ask their specific requirements before you commit.
Online banks typically have lower fees and no minimum deposits but offer no in-person support. Local or regional banks often have higher minimums but may offer relationship managers who can help with loans or other services later. Credit unions sometimes offer business accounts to members at lower costs than traditional banks.
Ask each bank about their check-writing limits, wire transfer fees, mobile deposit options, and whether they offer a debit card. If you plan to deposit checks frequently, ask about mobile check deposit — many banks now let you photograph a check with your phone instead of going to a branch. Ask about overdraft protection and what it costs.
The application and approval process
Most banks will let you open an account in one visit. Bring all your documents, fill out the application form (the bank provides this), and the bank representative will verify your identity and business status while you wait. They will run a background check and may check your personal credit history, though business accounts do not always require good credit.
The bank will ask for the names and titles of the owners or officers, the business structure, what your business does, and your expected monthly deposit volume. Answer honestly — banks use this information to flag accounts that might be high-risk, but most small businesses open accounts without issue.
Once approved, the bank will issue you a debit card, checks, and online banking access. Some banks mail these items; others hand them to you that day. Ask when you can start using the account — most let you begin immediately, though some require you to wait for checks to arrive or for the debit card to be activated.
What happens if your business structure is not yet finalized
If you have not yet filed your LLC or corporation with your state, you can still open a business account as a sole proprietor using your Social Security Number and a business name registration (called a DBA or "Doing Business As" filing in most states). This is a simple, low-cost filing you submit to your county or state that lets you operate under a business name without forming an LLC.
A DBA is not a legal business structure — it does not protect your personal assets the way an LLC does — but it does let you open a business bank account and separate your personal and business money. Once you form an LLC or corporation later, you can either keep the account open or move to a new one that reflects your formal structure.
Some banks will not accept a DBA and will require a formal business structure. Call ahead and ask whether they accept sole proprietors with a DBA, or whether you must have an LLC or corporation to open an account with them.
After the account opens: next steps
Set up online banking and mobile app access as soon as you can. Most banks offer this during the account opening process or immediately after. Use online banking to monitor your balance, review transactions, and catch fraud early.
Order checks if you need them. Many small businesses now operate without paper checks, using bank transfers or debit cards instead. If you do need checks, order them from the bank or from a third-party printer — third-party checks are usually cheaper but take longer to arrive.
If you have employees, set up payroll processing. Many banks offer payroll services, or you can use a third-party payroll company like Gusto or ADP. You will need your EIN and your employees' tax information to start.
Keep your business and personal finances separate from day one. Deposit all business income into the business account and pay all business expenses from it. This separation protects you if you are ever audited and makes tax time much simpler.
Frequently Asked Questions
Do I need an LLC to open a business bank account?
No. You can open an account as a sole proprietor using your Social Security Number and a DBA filing, or as a partnership or corporation. However, some banks require a formal business structure like an LLC or corporation, so call ahead to confirm what your chosen bank accepts.
How long does it take to get an EIN?
If you apply online through the IRS website, you receive your EIN immediately and can use it right away. If you apply by phone or mail, it takes one to two weeks. You do not have to wait for the EIN to arrive in the mail to use it.
Can I open a business account if I have bad personal credit?
Most banks do not check personal credit for business accounts, though some may run a background check. If a bank declines you, try a credit union or online bank, which often have less strict requirements. You can also ask the bank what specifically disqualified you and whether you can reapply after addressing the issue.
What if I do not have a physical business address yet?
You can use your home address as your business address if you work from home. If you do not want to use your home address, you can rent a mailbox at a UPS Store or similar service and use that address, though some banks require a physical street address rather than a mailbox number.
Can I open a business account online without going to a bank branch?
Some online banks let you open an account entirely online by uploading photos of your documents and verifying your identity through video. Traditional banks and credit unions typically require you to visit a branch in person. Check with your chosen bank about their process before you start gathering documents.