Banks and credit unions that let you open online

You can open a business checking account online at most national banks, regional banks, and credit unions. The largest options—Chase, Bank of America, Wells Fargo, Citibank, and US Bank—all offer online business account setup. Smaller regional banks and online-only banks like Novo, Mercury, and Brex also handle the entire process through their websites or apps, often with fewer steps than traditional banks.

Credit unions typically require membership before you can open a business account, but many let you join online first. Your options depend partly on where your business is located, since some banks and credit unions operate only in certain states. A few banks require you to visit a branch in person to complete the account opening, even if you start online—check the bank's website to see whether they finish the process remotely or ask you to come in.

Key Takeaways

  • National banks, regional banks, credit unions, and online-only banks all offer online business account opening, though some require a branch visit to finish.
  • You will need your Social Security number or EIN, business license or formation documents, and personal identification to start the process.
  • Online-only banks and fintech companies often open accounts in one to three business days, while traditional banks may take five to ten business days.
  • Some banks charge monthly fees for business accounts, while others waive fees if you maintain a minimum balance or set up direct deposit.

What you need to have ready before you start

Gather your documents before you begin the online application. You will need your Social Security number or Employer Identification Number (EIN), a valid government-issued ID (driver's license or passport), and proof that your business exists. Proof of business can be your business license, articles of incorporation, a DBA certificate, or a partnership agreement—the bank will tell you which forms they accept.

Have your business address and personal address ready, along with information about the business itself: the type of business, when it started, and how many owners it has. If you are opening the account as a sole proprietor using your Social Security number, the process is simpler. If you have an EIN or multiple owners, the bank may ask for additional documents or require that all owners verify their identity before the account opens.

How the online application process works

The application itself usually takes 10 to 20 minutes. You will enter your business name, address, and type of business; provide your personal information; and upload or photograph your ID and business documents. The bank's system will verify your identity electronically, often using your Social Security number and address history. Some banks ask you to answer security questions based on your credit history as part of this verification.

After you submit, the bank reviews your application and may contact you by phone or email if they need clarification or additional documents. This review period varies: online-only banks often approve within one business day, while traditional banks may take three to five business days. Once approved, the bank will send you account details, routing number, and account number by email or through their app—you can usually start using the account immediately for transfers and bill pay, though checks and debit cards arrive by mail.

Timeline from application to first use

Online-only banks and fintech companies typically open your account in one to three business days. You receive your account number and routing number the same day or the next day, so you can set up direct deposit or make transfers right away. Physical debit cards and checks arrive in five to seven business days.

Traditional banks usually take five to ten business days from application to account opening. Some require a phone call or video verification step, which can add a day or two. Once your account is open, you can access it online or through their app immediately, but printed checks and cards still take five to ten business days to arrive by mail. If you need to make payments or transfers before your physical cards arrive, you can use online bill pay or ACH transfers through the bank's website.

Comparing fees and minimum balance requirements

Monthly fees for business checking accounts range from zero to $25 or more, depending on the bank and account type. Many banks waive the monthly fee if you maintain a minimum balance (often $500 to $2,500), set up direct deposit, or keep a certain amount in linked savings. Online-only banks frequently charge no monthly fee at all. Traditional banks are more likely to charge a base fee but may waive it if you meet their conditions.

Beyond the monthly fee, watch for per-transaction charges. Some banks charge for each check you deposit, each wire transfer you send, or each ACH payment you make. Others include a set number of these transactions free each month. Read the fee schedule carefully before you open the account, because switching banks later costs time and effort. A bank with no monthly fee but high per-transaction charges might cost more than a bank with a $10 monthly fee and unlimited transactions.

Online-only banks versus traditional banks

Online-only banks and fintech companies open accounts faster, usually charge lower or no monthly fees, and offer simpler interfaces. They work well if you do most of your banking online and do not need to deposit cash or checks in person. Novo, Mercury, Brex, and Lemonade are popular choices for small businesses. The trade-off is that you cannot walk into a branch to resolve problems, and some online-only banks do not offer business loans or credit products.

Traditional banks offer branches where you can deposit cash, speak to a person, and access business loans or credit lines. They take longer to open accounts and often charge higher fees, but they provide more services under one roof. If your business handles a lot of cash or you want the option to borrow later, a traditional bank may be worth the slower timeline and higher fees. If you run a service business or sell online and rarely need physical banking, an online-only bank is usually faster and cheaper.

What happens after your account opens

Once your account is open, log into the bank's website or app to set up bill pay, link external accounts, and configure notifications. Most banks let you order checks immediately, though they take five to ten business days to arrive. You can start receiving payments through ACH transfer or wire transfer right away using your routing number and account number.

If you need a business debit card, order it through your online banking portal. Some banks issue a card automatically when you open the account; others require you to request one. The card usually arrives in five to ten business days. If you plan to use accounting software like QuickBooks or Wave, connect your business checking account to it during setup so transactions sync automatically.

Frequently Asked Questions

Can I open a business checking account if I do not have an EIN yet?

Yes. Most banks let you open an account using your Social Security number as a sole proprietor. You can add an EIN later and update your account information. Some banks ask you to provide an EIN within a certain timeframe if you plan to hire employees or operate as an LLC or corporation.

Do I need to visit a branch in person?

Most banks complete the entire process online, but a few require you to visit a branch to verify your identity or sign documents in person. Check the bank's website before you start the application. If a branch visit is required, you can usually schedule it online and finish the account opening the same day or within a few days.

How long does it take to receive checks and a debit card?

Checks and debit cards arrive by mail in five to ten business days after you order them. You can use your account for online transfers and bill pay immediately, so you do not have to wait for physical items to start banking. Some banks offer rush delivery for an extra fee.

What if the bank rejects my application?

Banks may reject applications if they cannot verify your identity, if your business documents do not match your application, or if you have a history of fraud or unpaid debts. If rejected, ask the bank why and whether you can reapply with corrected information. You can also try a different bank or credit union.

Can I open multiple business checking accounts at different banks?

Yes. Many business owners keep accounts at two or three banks for different purposes—one for payroll, one for invoicing, one for savings. Each account opening follows the same process, and you can manage them all online. Just keep track of which account is which to avoid confusion.