Documents and information you'll need before you walk in
To open a business checking account, you need to bring proof of your business identity and your personal identity. The bank will ask for your Employer Identification Number (EIN) or your Social Security Number if you're a sole proprietor, your business license or formation documents, and a government-issued photo ID. Some banks also want to see a recent utility bill or lease agreement showing your business address.
The exact list varies by bank and by the type of business structure you have. A sole proprietorship needs less paperwork than an LLC or corporation. Call the bank before you go in and ask what they require for your specific business type — this saves a trip back home for a missing document.
If your business is brand new and you don't have an EIN yet, you can get one from the IRS for free online at irs.gov, by phone, or by mail. The online application takes about 15 minutes and you receive your number immediately. Some banks will let you open an account with your Social Security Number temporarily and switch to your EIN later, but don't assume this — ask first.
Key Takeaways
- You need a government-issued photo ID, proof of your business identity (EIN, business license, or formation documents), and your business address to open an account.
- Sole proprietors can use their Social Security Number instead of an EIN, but an EIN keeps your personal and business finances separate on the bank's records.
- Call your bank before visiting to confirm what documents they need for your specific business structure, since requirements differ between sole proprietorships, LLCs, and corporations.
- If you don't have an EIN yet, you can get one free from the IRS online in about 15 minutes and receive it immediately.
- Some banks require a minimum deposit to open the account, and this amount varies — ask about it when you call.
Documents for different business structures
A sole proprietorship is the simplest to set up. You need your Social Security Number or EIN, a photo ID, and proof of your business name if you're operating under a name different from your legal name. Many banks accept a DBA (Doing Business As) certificate or even a business license as proof.
An LLC or corporation requires more paperwork. Bring your Articles of Organization (for an LLC) or Articles of Incorporation (for a corporation), your EIN, and a photo ID. Some banks also ask for a Certificate of Good Standing from your state's Secretary of State office, which proves your business is registered and in good standing. You can get this from your state's website for a small fee, usually $5 to $15.
A partnership needs the partnership agreement, each partner's photo ID, the EIN, and proof of the business address. If the partnership is new, the bank may ask for a copy of the formation documents filed with your state.
Information about the account owner and signers
The bank needs to know who owns the business and who is authorized to sign checks or withdraw money. If you're the sole owner, this is straightforward — you bring your ID and sign the paperwork. If there are multiple owners or authorized signers, each person needs to bring a government-issued photo ID and sign the account agreement.
The bank will ask for the Social Security Number of every owner and authorized signer. This is for tax reporting and fraud prevention. They'll also ask about the nature of your business, how much money you expect to deposit each month, and whether you plan to receive payments from customers or clients. Answer honestly — the bank uses this information to flag unusual activity later, not to judge your business.
Minimum deposits and account fees
Most banks require a minimum deposit to open a business checking account. This amount ranges from $0 to $2,500 depending on the bank and the type of account. Some banks waive the minimum if you set up direct deposit or maintain a certain balance. Others charge a monthly fee regardless of your balance, while some waive the fee if you keep a minimum amount in the account.
Ask about the monthly maintenance fee, per-check fees, overdraft fees, and whether the bank charges for wire transfers or ACH transfers. These fees add up quickly if you're running a small business with tight margins. Some banks offer the first month or three months free, so ask about introductory offers.
What to bring to the bank
| Item | Why the bank needs it |
|---|---|
| Government-issued photo ID (driver's license, passport) | Proves your identity and prevents fraud |
| EIN or Social Security Number | Tax identification and reporting |
| Business license or formation documents (Articles of Organization, Articles of Incorporation, DBA certificate) | Proves your business exists and is registered |
| Proof of business address (lease, utility bill, or Certificate of Good Standing) | Confirms where your business operates |
| Photo ID for each authorized signer | Verifies who can access the account |
Online account opening vs. in-person
Some banks let you open a business checking account online without visiting a branch. You upload photos of your documents, provide your information through their website, and the bank reviews everything electronically. This usually takes one to three business days. However, many banks still require you to come in person, especially if you're opening an account for an LLC or corporation.
If you open online, the bank will still ask for the same documents — they just want digital copies instead of originals. Make sure your photos are clear and show the entire document. If the bank can't read something, they'll contact you and ask you to resubmit, which delays the process.
After you open the account
Once your account is open, the bank will give you checks, a debit card, and online banking access. Ask how long it takes for checks to arrive — this is usually one to two weeks. If you need to start paying bills immediately, ask whether the bank can set up ACH transfers or bill pay while you wait for checks.
Set up online banking right away so you can monitor your balance and catch any errors or fraud. Most banks let you set up alerts for large deposits or withdrawals, which is useful for catching mistakes. If you plan to deposit checks regularly, ask whether the bank offers mobile check deposit, which lets you photograph checks with your phone instead of going to a branch.
Frequently Asked Questions
Can I open a business checking account if my business is not registered yet?
Most banks require proof that your business is registered with your state, but the timeline varies. Sole proprietors can sometimes open an account with just a DBA certificate or business license. LLCs and corporations must be formally registered before the bank will open an account. If your business is very new, ask the bank whether you can open a personal account temporarily and convert it to a business account once your registration is complete.
Do I need an EIN if I'm a sole proprietor?
No, you can use your Social Security Number instead. However, an EIN keeps your personal and business finances separate on the bank's records and protects your Social Security Number from being shared with vendors and customers. Getting an EIN is free and takes 15 minutes online, so most accountants recommend it even for sole proprietors.
What if I don't have a physical business address yet?
Some banks accept a home address, a UPS mailbox address, or a virtual office address. Call ahead and ask what the bank accepts. If you're using a home address, bring a utility bill or lease showing that address. If you're using a mailbox service, bring the receipt or agreement from the service.
How long does it take to open a business checking account?
In-person opening usually takes 20 to 30 minutes if you have all your documents. Online opening takes one to three business days for the bank to review your information and approve the account. Your checks and debit card arrive separately, usually within one to two weeks.
Can someone else open the account on behalf of my business?
No, the bank requires the owner or an authorized representative to be present and sign the account agreement. If you're out of the country or unable to visit, some banks let a power of attorney holder open the account on your behalf, but you'll need to provide legal documentation. Call the bank first to ask what they accept.