You can open most business checking accounts entirely online in 10 to 20 minutes, but the bank will ask for specific documents before you start
The process differs slightly by bank, but the standard path is: choose a bank, gather your documents, fill out the account form online, verify your identity, and fund the account. Most banks complete the verification step the same day or within one business day. You will not be able to use the account until the bank confirms your identity and your initial deposit clears, which usually takes one to three business days.
The documents you need depend on your business structure. A sole proprietorship requires less paperwork than an LLC or corporation. Banks also verify your personal credit and business history, so have your Social Security number, tax ID number (if you have one), and recent business information ready before you begin.
Key Takeaways
- You will need your Social Security number, business tax ID (EIN) if you have one, and a government-issued ID to start the online application.
- Sole proprietorships typically require only your personal information, while LLCs and corporations need formation documents like articles of incorporation or an operating agreement.
- Most banks verify your identity the same day and allow you to use the account within one to three business days of funding it.
- You must make an initial deposit to open the account; the minimum varies by bank and account type, ranging from zero to several hundred dollars.
- The entire process from start to usable account usually takes three to five business days if all documents are correct and your identity verifies without issues.
What documents to gather before you start
The exact list depends on your business structure. If you are a sole proprietor (you own the business by yourself and have not formed an LLC or corporation), you need your Social Security number, a government-issued photo ID, and your business name. Some banks also ask for a business license or EIN, but many do not require these for sole proprietors.
If you have an LLC or corporation, the bank will ask for your articles of incorporation, articles of organization, or operating agreement—whichever document your state issued when you formed the business. You will also need the EIN (Employer Identification Number) that the IRS sent you. If you do not have the EIN yet, you can get one free from the IRS website before opening the account, or some banks will let you apply for one during the account setup.
For any business structure, have your Social Security number, business address, and the names and Social Security numbers of any owners or signers ready. If someone other than the owner will sign checks or access the account, the bank will need their information too.
Step-by-step: what happens during the online application
Start by visiting the bank's website and finding the business checking section. Click the link to open an account online. The bank will ask you to enter your business name, structure (sole proprietor, LLC, S-corp, etc.), and the state where you formed it. Then you will enter your personal information: name, Social Security number, date of birth, and address.
Next, the bank uploads or verifies your documents. If you have an EIN, enter it. If you do not, some banks let you enter your Social Security number instead and will verify your business later. Upload a photo of your government ID—a driver's license or passport works. Some banks also ask you to upload your articles of organization or incorporation at this stage; others do it after you fund the account.
You will then choose your account type (basic checking, interest-bearing, etc.) and set up online banking access. The bank will ask you to create a username and password, and may send a verification code to your email or phone. After you confirm that code, you are ready to fund the account.
How identity verification works and how long it takes
Once you submit your application, the bank runs a background check and verifies your identity against government records. This usually happens the same day or within a few hours. The bank checks your Social Security number, address, and ID against databases to confirm you are who you say you are.
If everything matches, you will see a confirmation message in your online banking portal or receive an email saying your account is open. If the bank cannot verify your identity automatically—for example, if your address does not match their records or your ID is expired—they will call or email you to ask follow-up questions. This can add one to two business days to the process.
A few banks use video verification instead of automatic checks. You will be asked to show your ID to a camera and answer security questions. This usually takes 5 to 10 minutes and happens immediately, so you know right away whether you are approved.
Making your initial deposit and when you can use the account
After your identity is verified, you must fund the account to activate it. The minimum deposit varies: some banks require zero dollars (you can fund it later), while others require $25, $100, or more. Check the bank's website for the specific minimum before you apply.
You can fund the account by linking a personal bank account and transferring money, using a debit card, or (at some banks) mailing a check. If you transfer from another bank account, the money usually arrives within one to three business days. Once the deposit clears, your account is fully active and you can order checks, set up bill pay, and use the debit card if one comes with the account.
Some banks give you temporary access to online banking and bill pay before the deposit clears, but you cannot write checks or use a debit card until the account is fully funded and verified.
What to do if the bank asks for more information
If the bank cannot verify your identity automatically, they will contact you—usually by phone or email—within one business day. They may ask you to confirm your address, explain a discrepancy in your application, or provide additional documents like a recent utility bill or business license.
Respond as quickly as you can. If you miss the bank's call or email, the application may be put on hold or cancelled. Check your email (including spam folders) and answer your phone for the next few days after you apply. If you do not hear from the bank within three business days, call them to confirm your application is still being processed.
If you are having trouble verifying your identity online, ask the bank whether you can complete the process in person at a branch. Many banks offer this option, and it can be faster if you have a branch nearby.
Choosing between banks and what to compare
Different banks have different requirements and timelines. Some large national banks (Chase, Bank of America, Wells Fargo) open accounts quickly but may have higher minimum balances or monthly fees. Smaller regional banks and online-only banks (Novo, Mercury, Brex) often have lower minimums and no monthly fees, but may take slightly longer to verify your identity.
Before you choose, compare the monthly fee (or whether the account is free), the minimum balance required, whether the bank charges for checks, and what online tools are included. Also check whether the bank offers a business debit card, mobile app, and integration with accounting software like QuickBooks. If you plan to deposit checks frequently, ask whether the bank offers mobile check deposit or whether you have to mail checks in.
Read recent reviews from other business owners to see how long verification actually took and whether the bank's customer service was helpful. A bank that takes one extra day to verify but has better customer support may be worth it if you run into problems later.
Frequently Asked Questions
Can I open a business checking account if I do not have an EIN yet?
Yes. You can use your Social Security number instead, and most banks will let you get an EIN later. If you are a sole proprietor, you may never need an EIN—the IRS only requires one if you have employees or certain business structures. If you do need one, you can get it free from the IRS website in about 15 minutes, or the bank can help you during the account setup.
How long does it take to get checks after I open the account?
Most banks mail checks within three to five business days of opening the account. Some banks offer temporary checks you can print immediately from your online banking portal. If you need checks urgently, ask the bank whether they offer rush printing or whether you can pick up temporary checks at a branch.
Do I need to be present in person to open the account?
No. The entire process can be done online from your computer or phone. You will not need to visit a branch unless the bank cannot verify your identity automatically and asks you to do so in person.
What if I have bad personal credit—will that stop me from opening a business account?
Most banks do not use your personal credit score to decide whether to open a business checking account. They run a background check and verify your identity, but they are not looking at your credit rating. However, some banks do check ChexSystems (a banking history database) to see whether you have had problems with previous bank accounts, like overdrafts or fraud.
Can I add other people to the account during the online application?
Most banks let you add authorized signers after the account is open, not during the initial application. You will need to log into your online banking portal and request to add a signer, then provide their name and Social Security number. The bank will verify their identity separately, which usually takes one to two business days.