You cannot open a personal checking account using only an EIN
Banks require a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) to open a personal checking account, not an EIN. An EIN is a business tax identification number issued by the IRS to employers, sole proprietors, partnerships, and corporations. It does not replace your personal tax ID for banking purposes.
If you have an EIN but no SSN, you likely have an ITIN instead — a nine-digit number the IRS issues to people who are not may be able to access for an SSN but need to file taxes or open bank accounts. An ITIN works for personal checking accounts at most banks. If you have neither an SSN nor an ITIN, you will need to obtain one before a bank will open an account for you.
The confusion often arises because sole proprietors and self-employed people have both an SSN and an EIN. The SSN is what you use for personal accounts; the EIN is what you use for business accounts or if you hire employees. Banks keep these separate for regulatory and tax reporting reasons.
Key Takeaways
- Personal checking accounts require an SSN or ITIN, not an EIN, even if you are self-employed or a business owner.
- An EIN is issued for business purposes and cannot be used as your personal tax identifier for banking.
- If you have an EIN but no SSN, you likely have an ITIN, which banks will accept for personal accounts.
- If you lack both an SSN and ITIN, you must obtain an ITIN from the IRS before opening a personal checking account.
When you have an EIN but need a personal account
If you are self-employed or own a business and have obtained an EIN, you already have a personal tax ID — your SSN. The EIN is separate and additional. Use your SSN when you open a personal checking account, even though you also have an EIN for business purposes.
Many sole proprietors maintain two accounts: a personal checking account (opened with their SSN) and a business checking account (opened with their EIN). This separation helps with tax record-keeping and makes it easier to track business income and expenses separately from personal spending. Banks do not require you to have a business account, but many recommend it if you are running a business.
When you sit down with a bank representative to open a personal account, bring your SSN, not your EIN. If you bring your EIN by mistake, the bank will ask for your SSN instead. You cannot proceed without it.
If you have an EIN but no Social Security Number
This situation is uncommon but does occur. Some people obtain an EIN for business purposes before they have an SSN or ITIN. In this case, you need to obtain an ITIN before you can open a personal checking account.
An ITIN is a nine-digit tax identification number that works like an SSN for banking and tax purposes. You can obtain an ITIN by filing Form W-7 with the IRS. The form requires proof of identity and proof of foreign status (such as a passport). Processing typically takes four to six weeks. You can file by mail or, in some cases, through an IRS-authorized Acceptance Agent in your area.
Once you have your ITIN, bring it to the bank along with your passport or other government-issued ID. Most banks will open a personal checking account for you using your ITIN. A few banks have restrictions on ITIN accounts, so call ahead to confirm the bank you want to use will accept one.
Opening a business checking account with an EIN
If you want to open a business checking account — separate from your personal account — you will use your EIN. Most banks require the EIN, your SSN, and a business license or other proof that you operate a business. Some banks also ask for your business formation documents (such as articles of incorporation for a corporation or an operating agreement for an LLC).
The process is similar to opening a personal account but takes slightly longer because the bank verifies your business status. Bring your EIN, SSN, government-issued ID, and any business documents the bank requests. Many banks can complete the process in one visit, though some require a follow-up call or email to confirm details.
A business checking account is useful if you want to keep business income and expenses separate from personal spending, but it is not required by law for sole proprietors. Partnerships, LLCs, and corporations typically need a business account because the business is a separate legal entity from its owners.
What to bring to the bank
| Account Type | Primary ID Needed | Secondary Documents |
|---|---|---|
| Personal checking | SSN or ITIN | Government-issued photo ID (passport, driver's license) |
| Business checking | EIN | SSN, government-issued photo ID, business license or formation documents |
Bring originals, not copies, of your government-issued ID. Banks will not open an account based on a photocopy. If you do not have a photo ID, some banks will accept other documents like a utility bill or lease agreement, but call ahead to confirm what your bank accepts.
Keep your documents organized before you visit. Banks move faster when you have everything ready, and you reduce the chance of being asked to return with missing paperwork. If the bank requests documents you do not have, ask which ones are required and which are optional.
Common reasons banks reject EIN-only applications
Banks reject applications that list only an EIN because federal banking regulations require a personal tax identifier (SSN or ITIN) for all account holders. This is true even for business accounts — the owner or authorized representative must provide their personal tax ID in addition to the business EIN.
If a bank tells you that you cannot open an account because you only have an EIN, the solution is to provide your SSN or ITIN. If you genuinely have neither, you must obtain an ITIN before proceeding. Do not try to use your EIN as a substitute; it will not work, and the application will be denied.
Frequently Asked Questions
Can I use my EIN to open a personal checking account?
No. Banks require an SSN or ITIN for personal accounts. An EIN is a business tax ID and cannot be used as your personal identifier. If you have an EIN, you also have an SSN — use that instead.
What is the difference between an SSN and an EIN?
An SSN is your personal tax identification number. An EIN is a business tax identification number. Most people have both: they use their SSN for personal banking and taxes, and their EIN for business purposes. An EIN does not replace an SSN.
Can I open a business account with just my EIN and no SSN?
No. Banks require both your EIN and your personal SSN (or ITIN) to open a business account. The SSN identifies you as the owner or authorized representative of the business. You cannot open a business account using only an EIN.
How long does it take to get an ITIN if I need one?
The IRS typically processes Form W-7 (the ITIN application) within four to six weeks. You can file by mail or through an IRS-authorized Acceptance Agent. Once you have your ITIN, you can use it to open a personal checking account at most banks.
Do all banks accept ITIN for personal checking accounts?
Most banks do, but some have restrictions. Call your bank before you visit to confirm they will open an account using an ITIN. Bring your ITIN, government-issued photo ID, and proof of address (such as a utility bill or lease).