What you need before you walk in

You will need to bring proof of your business structure, proof of your identity, and your tax identification number. The exact documents depend on whether you are a sole proprietor, partnership, LLC, S-corp, or C-corp — each one requires different paperwork, and banks will turn you away if you show up with the wrong set.

For a sole proprietorship, bring your driver's license or passport, your Social Security number, and a DBA (Doing Business As) certificate if you registered one with your state or county. If you operate under your own name and have not registered a DBA, you may only need your ID and Social Security number.

For an LLC, partnership, or corporation, bring your Articles of Organization or Articles of Incorporation (the document you filed with your state), your Employer Identification Number (EIN) from the IRS, and a government-issued ID for each owner or authorized signer. Some banks also ask for a Certificate of Good Standing from your state's Secretary of State office, which costs $5 to $25 and takes a few days to order online.

Have your business address ready — this can be your home address, a commercial space, or a virtual office address, depending on what the bank accepts. Bring a recent utility bill or lease in the business name if you have one, though this is not always required.

Key Takeaways

  • Sole proprietors need only a driver's license and Social Security number, while LLCs and corporations must bring Articles of Organization or Incorporation and an EIN.
  • Banks verify your business structure by checking state records, so bring originals or certified copies of your formation documents.
  • You will need to choose between in-person, online, or phone account opening depending on the bank and your business type.
  • The account typically opens within one to five business days, though you may not receive debit cards or checks for one to two weeks after that.
  • Monthly fees range from zero to $25 depending on the bank and account type, and some banks waive fees if you maintain a minimum balance.

Where to open the account: in person, online, or by phone

In-person opening is the most straightforward route if you have a local branch. Walk in during business hours with your documents, speak to a business banker (not a teller), and they will verify your information on the spot. This takes 30 to 60 minutes and you walk out with temporary debit cards or checks in some cases. Most banks prefer this method for LLCs and corporations because they can see the original documents and confirm signatures.

Online opening works for sole proprietors at most banks and for some LLCs if the bank has an online business account option. You upload photos of your documents, answer questions about your business, and the bank verifies your identity through a video call or by matching your information against public records. This takes 24 to 48 hours and you get account access immediately, though physical cards and checks arrive by mail.

Phone opening is available at some banks but is slower than in-person or online. You call the business banking line, answer questions about your business, and mail or fax your documents. The bank then verifies everything and calls you back to confirm. This can take five to seven business days.

If your bank does not offer online business account opening, you will need to go in person or call. Community banks and credit unions almost always require in-person opening for businesses, while large national banks (Chase, Bank of America, Wells Fargo, Citibank) offer online options for sole proprietors and sometimes for LLCs.

What happens after you submit your information

The bank runs a background check on you and your business using your Social Security number, EIN, and business name. They verify your business structure by checking state records — this is why they need your formation documents. They also check for any tax liens, judgments, or fraud flags in your name or the business name.

If you are a sole proprietor or the sole owner of an LLC, the bank treats you and your business as the same entity for background purposes. If there are multiple owners, the bank may run checks on all of them or only on the person opening the account — this varies by bank.

The bank also checks ChexSystems, a database of banking history similar to a credit report. If you have closed accounts with unpaid fees, bounced checks, or fraud flags, the bank may deny the account or require you to pay off old debts first. You can request your ChexSystems report for free at chexsystems.com.

Once the bank approves the account, you receive an account number and routing number by email or mail. Debit cards arrive in five to ten business days. Checks take one to three weeks if you order them through the bank, or three to five days if you order them from a third-party printer like Deluxe or Costco.

Fees and minimum balances to compare

Monthly maintenance fees range from $0 to $25 depending on the bank and account type. Some banks charge nothing if you maintain a minimum balance (usually $500 to $2,500), make a certain number of deposits per month, or keep a linked savings account open. Others charge a flat fee regardless.

Beyond the monthly fee, watch for per-transaction costs: some banks charge $0.50 to $1.50 per check deposited, per wire transfer sent, or per ACH transfer. Others include a set number of these transactions free each month. Online banks and credit unions often have lower or no per-transaction fees, while traditional banks charge more.

Overdraft fees typically run $25 to $35 per overdraft, and some banks charge multiple fees if you stay overdrawn for several days. Ask whether the bank offers overdraft protection (linking to a savings account to cover shortfalls) or whether you can opt out of overdraft coverage entirely.

Compare accounts using the bank's fee schedule, which you can request in person or download from their website. The cheapest account is not always the best — if you need a lot of wire transfers or check deposits, a bank with higher monthly fees but lower per-transaction costs may save you money.

Timeline from application to first deposit

If you open in person, the account is active the same day and you can start using it within hours. If you open online or by phone, the account is usually active within 24 to 48 hours. You receive your account number and routing number by email as soon as the account opens.

You can begin making deposits and transfers immediately once you have your account number and routing number. If you are depositing checks, the bank's mobile app or ATM may process them the same day or the next business day depending on the time you deposit and the bank's processing schedule.

Physical debit cards arrive in five to ten business days. If you need to make card payments before the card arrives, you can use the account number and routing number to set up bill pay through the bank's website or app, or you can request a temporary card number from the bank.

Checks take longer: one to three weeks if ordered through the bank, or three to five days if ordered from a third-party printer. Many businesses now skip checks entirely and use ACH transfers or bill pay instead, which are faster and cheaper.

Sole proprietor vs. LLC: which documents do you actually need

A sole proprietor opening an account under their own name needs only a driver's license and Social Security number. If you registered a DBA with your county or state, bring that certificate too — it proves you own the business name. If you have not registered a DBA, you can still open an account under your own name and use it for business, though some banks prefer to see the DBA registration.

An LLC requires your Articles of Organization (filed with your state), your EIN from the IRS, and a government-issued ID for each owner. Some banks ask for a Certificate of Good Standing from your state's Secretary of State, which proves the LLC is still active and in good standing. You can order this online from your state's website for $5 to $25 and receive it in one to five business days.

A corporation (S-corp or C-corp) requires your Articles of Incorporation, your EIN, and a government-issued ID for each owner or authorized signer. Some banks also ask for a corporate resolution or board authorization letter stating who is authorized to open and sign on the account. If you do not have this, ask the bank whether they will accept a signed statement from the owner instead.

If you have not received your EIN yet, you can apply for one online at irs.gov in about 15 minutes and receive it immediately. Print the confirmation page and bring it to the bank — most banks will accept this as proof of your EIN while you wait for the official letter from the IRS.

What to do if the bank denies your account

Banks deny business accounts for a few common reasons: a ChexSystems flag (unpaid fees or fraud), a background check issue (tax liens, judgments, or criminal history), or incomplete or incorrect documents. Ask the bank which reason they cited and request a written explanation.

If the denial is due to ChexSystems, you can dispute the information or pay off old debts. Request your ChexSystems report at chexsystems.com, review it for errors, and dispute anything that is wrong. If the information is correct, contact the bank that reported it and ask what you need to do to clear the flag — usually paying an old fee or settling a dispute.

If the denial is due to a background check issue, you may be able to open an account at a different bank that has less strict policies. Credit unions and community banks sometimes approve accounts that national banks deny. You can also try again after resolving the underlying issue (paying a tax lien, settling a judgment, or waiting for a criminal record to age off).

If the denial is due to incomplete documents, simply provide what is missing and reapply. Make sure your Articles of Organization or Incorporation match the name you are using for the account, and that your EIN is current and active.

Frequently Asked Questions

Can I open a business account with just a Social Security number, or do I need an EIN?

Sole proprietors can open an account using only a Social Security number. LLCs and corporations must have an EIN. If you have not received your EIN yet, apply online at irs.gov — it takes 15 minutes and you get the number immediately. Print the confirmation page and bring it to the bank.

What if I do not have a physical business address yet?

You can use your home address, a virtual office address, or a UPS mailbox address. Some banks accept all three, while others require a physical street address. Call the bank before you apply to confirm what they accept for your situation.

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

Checks ordered through the bank take one to three weeks. Checks ordered from a third-party printer like Deluxe or Costco take three to five days and usually cost less. You can start using bill pay or ACH transfers immediately while you wait for checks to arrive.

Do I need to bring my business partner or co-owner with me to open the account?

No, but the bank may require a government-issued ID and signature from each owner or authorized signer. You can open the account alone and add signers later, or bring all owners at the same time. Ask the bank what their policy is before you go in.

What if I already have a personal checking account at this bank — can I just convert it to a business account?

No, you must open a separate business account. Personal and business accounts are different products with different fee structures and legal protections. Close or keep your personal account open, but open a new business account with your business documents and EIN.