Documents and information you'll need before you walk in
Most banks want the same core set of documents before they'll open a business checking account: your Employer Identification Number (EIN), proof of your business structure, a government-issued ID, and your Social Security number. The exact list varies by bank and by what kind of business you run, but these four items cover nearly every case.
If you're a sole proprietor, you may be able to use your Social Security number instead of an EIN, though many banks now require an EIN anyway. If you're an LLC, partnership, or corporation, an EIN is mandatory — you get it free from the IRS, and it takes about 15 minutes to request online at irs.gov.
Bring your articles of incorporation, articles of organization, or partnership agreement — whichever document created your business structure. If you're a sole proprietor, some banks will accept a DBA (Doing Business As) certificate or just your driver's license. Call the bank's business services line before you go; they'll tell you exactly what they need for your situation.
Key Takeaways
- You need an EIN (unless you're a sole proprietor using your SSN), proof of business structure, a government ID, and your Social Security number.
- The IRS issues an EIN free and instantly online; you don't have to wait for it to arrive by mail to open an account.
- Different banks have different requirements for sole proprietors, LLCs, and corporations, so call ahead to confirm what documents to bring.
- Most banks can open your account the same day if you have all documents, though some require a minimum deposit or charge monthly fees.
How to get an EIN if you don't have one
Go to irs.gov and search for "Apply for an EIN online." You'll answer questions about your business type, location, and ownership. The process takes 10 to 15 minutes, and the IRS gives you your EIN immediately on screen — you can write it down or print it right then.
You don't have to wait for a paper confirmation letter to arrive. Many banks will accept the EIN you received online, especially if you can show them the IRS confirmation page or your business formation documents. If a bank insists on the official letter, you can request it by mail from the IRS, but that adds two to four weeks.
If you apply by phone (1-800-829-4933), the IRS will issue your EIN the same day, though you'll need to wait for the written confirmation. Online is faster and requires no phone call.
What counts as proof of business structure
For an LLC or corporation, bring your articles of organization or articles of incorporation — the document you filed with your state to create the business. This is usually a one- or two-page form with your state's seal or filing stamp. If you don't have a physical copy, most states let you download a certified copy from their Secretary of State website for a small fee (usually $5 to $15).
For a partnership, bring your partnership agreement — the contract that outlines ownership and responsibilities. For a sole proprietor, many banks accept just your driver's license and EIN. Some states issue a DBA certificate when you register a business name; if you have one, bring it.
If your business is brand new and you haven't received your formation documents yet, call the bank first. Some will open an account with a filing receipt or confirmation email from your state, while others will ask you to come back once the official documents arrive.
Personal identification and ownership information
Bring a government-issued photo ID — a driver's license, passport, or state ID card. The bank needs to verify you are who you say you are under federal anti-money-laundering rules.
You'll also need to provide your Social Security number, even if you have an EIN. The bank uses this to run a background check and to report account activity to the IRS. If your business has multiple owners, the bank will typically ask for the Social Security number of the person signing the account agreement, and sometimes for all owners.
Some banks ask for a personal credit report as part of opening a business account. This is separate from a business credit check and helps the bank assess risk. It won't hurt your personal credit score to have it pulled.
Minimum deposits and account setup fees
Many banks require a minimum opening deposit — this varies widely, from $0 to $2,500 or more. Some banks waive the minimum if you set up direct deposit or maintain a certain balance. Others charge a monthly maintenance fee ($10 to $30 is common) unless you meet conditions like a minimum balance or a certain number of transactions per month.
Ask about these costs before you open the account. A bank with no monthly fee but a $1,000 minimum balance requirement may cost you more over time than one with a $15 monthly fee and no balance requirement, depending on how much you plan to keep in the account.
Some banks offer the first few months free, then charge a fee. Read the fee schedule carefully — it's usually on the bank's website or available from the business services representative.
What happens on the day you open the account
Bring all your documents and your initial deposit (if required). The bank will verify your identity, check your documents, and run a background check. This usually takes 15 to 30 minutes. You'll sign signature cards and account agreements, and the bank will give you temporary checks or a debit card on the spot.
Permanent checks and cards typically arrive by mail within 5 to 10 business days. Some banks offer rush delivery for a fee. Ask whether you can start using the account online or via mobile app the same day — most do, even before your physical card arrives.
If the bank finds an issue with your documents (for example, your business formation paperwork is incomplete), they'll tell you what's missing and ask you to come back or send it by email. This can add a few days to the process.
Special situations and exceptions
If you're opening an account for a nonprofit organization, you'll need your 501(c)(3) information letter from the IRS instead of an EIN alone (though you'll have an EIN too). Bring your bylaws and the names and Social Security numbers of board members.
If you're opening an account for a business you don't own but manage (like a trust or estate), bring the trust document or court order that gives you authority. If you're opening an account for a business partner who isn't present, some banks require a power of attorney document signed by that partner.
If you have a criminal record or a history of fraud, some banks may decline to open an account. This is at the bank's discretion. If one bank says no, try another — policies vary.
Frequently Asked Questions
Can I open a business checking account online without going to a branch?
Some banks let you start the process online and upload documents, but most still require you to verify your identity in person or by video call with a bank representative. A few online-only banks (like Square Cash for Business or Mercury) handle the entire process remotely, though they have different requirements and may not offer all the features of a traditional bank.
What if I don't have an EIN yet and I need the account right away?
Get your EIN online from irs.gov — it takes 15 minutes and you receive it immediately. You can then open the account the same day. You don't need to wait for a paper letter from the IRS. If you're a sole proprietor, some banks will let you use your Social Security number temporarily while you apply for an EIN, but this is becoming less common.
Do I need a separate business address, or can I use my home address?
You can use your home address. The bank needs a mailing address for statements and correspondence, but it doesn't have to be a commercial space. If you're a sole proprietor working from home, your home address is fine. If you're an LLC or corporation, your articles of organization already list an address — use the same one for consistency.
What if I'm opening an account for a business I just started and I don't have formation documents yet?
Call the bank and ask whether they'll accept a filing receipt or confirmation email from your state's Secretary of State office. Some will; others require the official document. If the bank won't accept it, wait for the official documents to arrive (usually 1 to 2 weeks) before opening the account.
Can my business partner open the account without me present?
Only if you give them a power of attorney document signed by you and notarized. Most banks require the person opening the account to verify their identity in person. If both partners want to be on the account, both usually need to be present or provide notarized authorization.