What you need before you start
Most banks let you open a business checking account online without visiting a branch, but you will need specific documents ready before you begin. Have your Employer Identification Number (EIN) or Social Security Number, a government-issued ID, your business address, and proof of business ownership on hand. The proof of ownership varies by business structure — a sole proprietor uses their SSN and a business license, an LLC uses the Articles of Organization, and a corporation uses the Articles of Incorporation.
Banks also ask for your business type, annual revenue estimate, and the names and ownership percentages of all owners. If your business is brand new and you have not yet received an EIN from the IRS, you can still open an account using your Social Security Number, though you will need to provide the EIN later. Some banks require a minimum opening deposit, which ranges from zero to several hundred dollars depending on the institution.
The entire online process typically takes 10 to 20 minutes to complete the application, though approval can take anywhere from the same day to five business days. During that waiting period, the bank verifies your identity, checks your business registration, and reviews your banking history.
Key Takeaways
- You will need your EIN or SSN, a government ID, your business address, and proof of business ownership before starting an online application.
- The online application itself takes 10 to 20 minutes, but the bank's approval process can take up to five business days.
- Most banks verify your identity electronically during the application, so you do not need to visit a branch or mail documents.
- You can use your Social Security Number temporarily if you have not yet received an EIN, but you will need to provide the EIN once you have it.
- Minimum opening deposits vary by bank and account type, from zero dollars to several hundred dollars.
Step-by-step walkthrough of the online application
Start by visiting the bank's website and finding the business checking section. Click the button to open an account online — most banks label this "Open a Business Account" or "Start Your Application." You will be asked to choose your business structure first: sole proprietorship, partnership, LLC, S-corporation, C-corporation, or nonprofit. Select the one that matches your business registration.
Next, enter your business information: legal business name, doing-business-as name if you have one, business address, phone number, and website if applicable. Then provide your personal information as the business owner — full name, date of birth, Social Security Number, and home address. If there are other owners, you will add their names and ownership percentages in a separate section.
The bank will ask about your business: how long it has been operating, your industry, estimated annual revenue, and the primary purpose of the account. Answer honestly — banks use this to assess risk and comply with anti-money-laundering rules. Then you will upload or photograph your documents: your government ID, your EIN letter from the IRS (or your Social Security card if you do not have an EIN yet), and your business license or Articles of Organization.
At the end, review all the information you entered, agree to the bank's terms and conditions, and submit. The bank will send you a confirmation email with your application reference number. Do not close the browser until you see this confirmation.
Identity verification and approval timeline
After you submit, the bank performs identity verification, which usually happens electronically. Some banks use a third-party service to check your Social Security Number, address, and ID against public records. Others may text or email you a code to verify your phone number or email address. A few banks still require a phone call from a business representative to confirm details, especially if your application raises questions.
Approval timelines vary. Chase, Bank of America, and Wells Fargo typically approve business checking accounts within one to two business days if everything matches. Smaller regional banks and online-only banks like Mercury or Brex may approve the same day or within 24 hours. If the bank needs more information — for example, if your ID is expired or your business address does not match public records — they will email you and ask you to resubmit or clarify.
Once approved, the bank will email you instructions to set up online banking. You will create a username and password, set up two-factor authentication, and link any funding sources if you want to make an initial deposit. Your debit card ships separately and usually arrives within five to seven business days.
Documents you will upload or photograph
The bank will ask you to provide digital copies of your documents during the application. Use a smartphone camera or scanner to create clear, well-lit images of both sides of each document. Here is what each business structure typically needs:
| Business Structure | Required Documents |
|---|---|
| Sole Proprietorship | Government ID, Social Security card or IRS EIN letter, business license |
| LLC | Government ID, IRS EIN letter, Articles of Organization from your state |
| Corporation (S or C) | Government ID, IRS EIN letter, Articles of Incorporation, corporate resolution |
| Partnership | Government ID for each partner, IRS EIN letter, Partnership Agreement, business license |
| Nonprofit | Government ID, IRS 501(c)(3) information letter, Articles of Incorporation, bylaws |
If you do not yet have an EIN, you can upload your Social Security card instead and provide the EIN later. The IRS typically issues an EIN within minutes if you request one online at irs.gov, or within two weeks if you apply by mail or phone. Do not wait for the EIN to open your account — most banks will let you start using the account with your SSN and update it once the EIN arrives.
What happens if your application is denied or delayed
Banks deny business checking applications for a few common reasons. If your personal credit score is very low, the bank may decline you. If your business address does not match public records or your ID is expired, the bank will ask you to resubmit. If your Social Security Number does not match your name or date of birth in their system, they will flag this and ask you to clarify.
If your application is delayed beyond five business days, contact the bank's business customer service line — the phone number is usually in your confirmation email. Have your application reference number ready. Ask whether they need additional documents or clarification. Some banks hold applications in queue during high-volume periods, so a follow-up call can sometimes move yours forward.
If you are denied, ask the bank why. Some reasons are temporary — an expired ID can be renewed, or an address mismatch can be corrected. Other reasons, like a fraud flag or a very poor credit history, may require you to try a different bank. Online banks and credit unions sometimes have different approval standards than large national banks, so you have other options.
Choosing between banks for online business checking
Different banks offer different features and approval speeds. Large national banks like Chase, Bank of America, and Wells Fargo have the most branch locations and customer service phone lines, but they often have higher minimum balances and monthly fees. Regional banks vary widely — some have no monthly fees and lower minimums, while others charge $15 to $25 per month.
Online-only banks like Mercury, Brex, and Novo have no physical branches but often approve accounts faster and charge lower fees. They are best if you do not need in-person service and are comfortable managing everything through an app or website. Credit unions sometimes offer business checking to members, and they often have lower fees and more personalized service, though approval may take longer.
Before you choose, compare the monthly fee, minimum opening deposit, minimum balance to avoid fees, and what is included — check writing, wire transfers, ACH transfers, and merchant services. Read the fine print on what counts as a business account versus a personal account; some banks charge more for business accounts because they include bookkeeping tools or higher transaction limits.
Setting up online banking and your first deposit
Once your account is approved, the bank will email you a link to activate online banking. Click the link, create a strong password, and set up two-factor authentication — usually a code sent to your phone or email each time you log in from a new device. Write down your account number and routing number; you will need these to set up payroll, receive payments from customers, or link the account to accounting software.
To make your first deposit, you have several options. If the bank requires a minimum opening deposit, you can transfer money from your personal account using the routing and account numbers, or you can mail a check. Some banks let you deposit checks by photographing them through the mobile app. Wire transfers are also an option, though they usually cost $15 to $30.
After your first deposit clears, your account is fully active. You can order checks, set up automatic bill pay, and link the account to accounting software like QuickBooks or Xero. Your debit card will arrive separately within five to seven business days.
Frequently Asked Questions
Can I open a business checking account if my business is not yet registered?
Most banks require proof that your business is registered with your state before they will open an account. If you have not yet registered, you can do so through your state's Secretary of State office — it usually takes one to two weeks. Some banks will hold your application until your registration is complete, while others will ask you to reapply once you have your business license or Articles of Organization.
Do I need an EIN to open a business checking account online?
No. You can use your Social Security Number if you do not yet have an EIN. Once you receive your EIN from the IRS, contact the bank and provide it so they can update your account. The IRS issues EINs instantly if you request one online at irs.gov, or within two weeks by mail.
What if the bank asks for a corporate resolution or board approval?
Corporations and some LLCs are asked to provide a corporate resolution — a document signed by the board or members authorizing someone to open the account. You can create this yourself using a template from your state's Secretary of State office or a legal document service. It does not need to be notarized for most banks, but read the bank's requirements first.
How long does it take to receive my debit card after approval?
Most banks ship debit cards within one to two business days of approval, and they arrive within five to seven business days. You can usually start using the account online and through ACH transfers before the card arrives. If you need a card faster, some banks offer rush shipping for a fee, or you can visit a branch to pick up a temporary card.
Can I open multiple business checking accounts at the same bank?
Yes, if you have multiple businesses or business structures. Each account needs its own EIN or business registration. The bank will treat each as a separate account with its own fees, minimums, and statements. Some banks limit the number of accounts per person, so ask before you open a second one.