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. You'll need proof that your business exists, proof of who owns it, and proof of your identity. The exact list varies by bank and by what kind of business you run, but the pattern is consistent: banks want to verify the business is real, that you have the right to control its money, and that you're not using the account to hide illegal activity.

Start by gathering your Employer Identification Number (EIN) or Social Security Number if you're a sole proprietor. You'll also need a government-issued photo ID — a driver's license or passport. After that, what else you need depends on your business structure.

Key Takeaways

  • Every bank requires a photo ID and either an EIN or Social Security Number, plus proof your business exists — usually articles of incorporation, a DBA certificate, or a business license.
  • Sole proprietors often need only an ID and Social Security Number, while LLCs and corporations must bring formation documents showing who the owners and signers are.
  • Some banks ask for a business plan, recent tax returns, or proof of address; others do not — call ahead to ask what your specific bank requires.
  • You may be asked to make a minimum deposit to open the account, which ranges from zero to several hundred dollars depending on the bank and account type.
  • If you're opening the account in person, bring originals of all documents; if you're opening online, you'll upload images or provide information over the phone.

What sole proprietors need

If you're a sole proprietor — you own the business by yourself and haven't formed an LLC or corporation — the paperwork is lightest. You need a photo ID and your Social Security Number. That's the minimum at most banks.

Many banks will also ask for a business license or a Doing Business As (DBA) certificate if you operate under a name different from your legal name. Some want proof of your address, like a utility bill or lease. A few ask for a business plan or recent tax returns, though this is less common for sole proprietors than for larger structures. Call the bank before you go in and ask what they need; it takes five minutes and saves a trip.

What LLCs and corporations need

If you've formed an LLC or corporation, you need documents that prove the business exists and show who can sign checks. Bring your Articles of Organization (for an LLC) or Articles of Incorporation (for a corporation). These are the documents you filed with your state when you created the business. You'll also need an EIN, which you can get from the IRS for free online or by mail.

The bank will want to know who the owners are and who is authorized to sign on the account. For an LLC, bring a copy of your operating agreement or a list of members. For a corporation, bring a copy of your bylaws or a corporate resolution authorizing the account. If you don't have these yet, contact the person or firm that helped you set up the business — they usually have copies. If you formed the business yourself, you can recreate a simple resolution or member authorization and have the owners sign it.

Bring a photo ID for each person who will sign on the account. Some banks require this; others ask only for the primary account holder. Ask when you call.

What partnerships need

Partnerships — whether general partnerships or limited partnerships — need proof of the partnership agreement and identification for each partner who will sign on the account. Bring a copy of your partnership agreement or a document showing the partners' names and ownership percentages. You'll also need an EIN and photo IDs for each partner authorized to sign.

If you don't have a written partnership agreement, some banks will ask you to create one before opening the account. This doesn't have to be complex — it just needs to show who the partners are and what percentage each owns. A lawyer can draft one, but you can also find templates online and have the partners sign.

Minimum deposits and account fees

Some banks require a minimum deposit to open a business checking account; others do not. The amount varies widely — from zero to $500 or more, depending on the bank and the account type. A few banks waive the minimum if you set up direct deposit or maintain a certain balance. Ask about this when you call, because it affects whether you can open the account right away or need to save first.

Banks also charge different fees for business accounts. Some charge a monthly maintenance fee; others waive it if you keep a minimum balance or receive a certain amount in deposits each month. Some charge per check or per transaction. These fees are separate from the minimum deposit and can add up quickly, so compare a few banks before you decide.

Opening the account in person versus online

Most banks let you open a business checking account online, by phone, or in person. Online and phone openings are faster — usually 15 to 30 minutes — but you'll need to upload images of your documents or read information over the phone. Make sure your photos are clear and show the whole document, front and back.

Opening in person takes longer but lets you ask questions and hand over originals instead of copies. Bring all documents in their original form if you go in person. If you open online or by phone, the bank will usually ask you to mail or upload certified copies later, so don't throw anything away.

What to do if the bank asks for more

Some banks ask for documents beyond the basics — recent tax returns, a business plan, proof of address, or a letter from your accountant. This is more common if you're opening a high-balance account or if the bank has strict anti-money-laundering rules. If the bank asks for something you don't have, ask whether it's required or optional. If it's required and you can't get it, try a different bank.

If the bank asks for a business plan and you don't have a formal one, a one-page description of what your business does, who your customers are, and how you make money is usually enough. If they ask for tax returns and you're brand new, explain that — most banks understand that new businesses don't have returns yet.

Frequently Asked Questions

Can I open a business account if my business isn't registered yet?

Most banks require proof the business exists, which usually means a business license, DBA certificate, or formation documents. If you haven't registered yet, register first — it takes a few days to a few weeks depending on your state. Some banks will hold an account open for a few days while you get the paperwork, but don't count on it.

Do I need an EIN if I'm a sole proprietor?

No. Sole proprietors can use their Social Security Number instead. However, getting an EIN is free and takes 15 minutes online, and some banks prefer it because it keeps your personal and business finances more separate. You'll need an EIN if you have employees or if you form an LLC or corporation later.

What if I don't have all the documents the bank is asking for?

Call the bank and ask which documents are required and which are optional. If a document is required and you don't have it, ask how to get it or whether the bank will accept something similar. If the bank won't budge, try a different bank — requirements vary.

Can someone else open the account on behalf of the business?

Usually not. The bank typically requires at least one owner or authorized representative to be present or to verify their identity over the phone. Some banks let a power of attorney holder open the account, but you'll need to bring a notarized power of attorney document.

How long does it take to open an account after I submit my documents?

Online and phone openings usually complete within 24 hours. In-person openings can be same-day, though the account may not be fully active until the bank verifies your documents — usually within one to three business days. Ask the bank for a timeline when you apply.