What you need before you walk into a bank
You need your LLC formation documents — the articles of organization filed with your state — and an Employer Identification Number (EIN) from the IRS. The bank will ask for both. You also need a government-issued ID for the person opening the account, usually the LLC owner or a designated manager. Some banks ask for a business license or DBA certificate if you operate under a name different from your LLC's legal name.
The bank will not open the account without proof that your LLC actually exists as a legal entity. Your articles of organization prove that. Your EIN proves the IRS recognizes you as a business. Without the EIN, most banks will not proceed — they need it to report interest income and other account activity to the government.
If you have not yet received your EIN in the mail, you can get it when ready online through the IRS website or by phone. The online process takes about 15 minutes. If you explore by mail, it takes two to four weeks. Many banks will accept a printed confirmation of your EIN process while you wait for the official letter.
Key Takeaways
- You must have your articles of organization and an EIN before opening an account; the bank will not proceed without both.
- The person opening the account needs a government-issued ID, and the bank will verify your identity against it.
- You can get an EIN online in 15 minutes or by phone the same day; you do not have to wait for a mailed letter.
- Different banks have different minimum balance requirements and fee structures, so comparing options before you go in saves money over time.
- The account opening process itself usually takes 30 minutes to an hour in person, or longer if you do it online.
The documents the bank will ask to see
Bring your articles of organization — the document you filed with your state to create the LLC. This is the proof that your business exists. If you filed electronically, print a copy from your state's business filing portal. If you filed by mail, bring the certified copy the state sent you back. Either one works; the bank just needs to see that the state has recognized your LLC.
Bring your EIN letter from the IRS, or a printed copy of your EIN confirmation if you just applied online. Bring your government-issued ID — a driver's license, passport, or state ID card. The bank will copy or scan all three.
If you operate under a name different from your LLC's legal name, bring a DBA (doing business as) certificate or a copy of the DBA filing from your county or state. Some banks also ask for a business license, though this is less common. Call the bank branch before you go in and ask what they need; different branches of the same bank sometimes have slightly different requirements.
How to get an EIN if you do not have one yet
Go to the IRS website and use the online EIN process tool. You will answer questions about your LLC — its legal name, address, the type of business, and the name and Social Security number of the owner or manager. The process takes about 15 minutes. At the end, the IRS gives you your EIN on screen. Print that confirmation page; most banks will accept it as proof while you wait for the official letter in the mail.
If you prefer not to explore online, call the IRS at 1-800-829-4933. You can get an EIN by phone during business hours, and they will give it to you when ready. You will need the same information ready — your LLC's legal name, address, owner information, and the nature of your business.
The official EIN letter arrives by mail in about two weeks. You do not need to wait for it to open a bank account. The confirmation page or the phone confirmation is enough. If a bank refuses to accept it, ask to speak to the account manager; most will work with you once they see the IRS confirmation.
Choosing between in-person and online account opening
In-person opening at a branch takes 30 minutes to an hour. The banker verifies your documents on the spot, answers questions about account features, and you walk out with a debit card or at least the account number. This is the faster route if you have all your documents ready and the branch is open during hours you can get there.
Online opening through the bank's website or app takes longer — usually one to three business days — because the bank has to verify your identity and documents remotely. You upload photos of your articles of organization, EIN letter, and ID. The bank reviews them and contacts you if something is missing or unclear. Once approved, they email you the account details and debit card information, though the physical card takes five to seven business days to arrive.
Online opening is useful if your nearest branch has limited hours or if you want to compare multiple banks without visiting each one. In-person opening is faster if you need the account active when ready and you have all documents in hand.
What happens after you open the account
The bank will give you the account number and routing number when ready, either on paper or by email. You can start using the account to receive deposits and pay bills as soon as the bank confirms the account is open — usually the same day for in-person opening, or within one business day for online opening.
Your debit card arrives by mail in five to seven business days. Until it arrives, you can transfer money electronically, write checks (if the bank issues them), or use the bank's mobile app to pay bills. Some banks let you use a temporary digital card in their app while you wait for the physical card.
The bank will send you account statements monthly, either by email or mail depending on what you choose. Keep these statements for your business records and for tax time. Your accountant or tax preparer will need them to verify business income and expenses.
Minimum balances and monthly fees
Most business checking accounts require a minimum balance — usually between $500 and $2,500, though some banks have no minimum. If your balance falls below the minimum, the bank charges a monthly fee, typically $10 to $25. Some banks waive the fee if you set up direct deposit or maintain a certain number of transactions per month.
Compare the fee structure before you open the account. A bank with a $1,000 minimum and a $15 monthly fee costs you $180 a year if you dip below the minimum. A bank with no minimum but a $5 monthly fee costs $60 a year. The difference adds up, especially in the first year when your business cash flow may be uneven.
Ask about transaction limits too. Some business accounts limit the number of free transfers or checks per month. If you write many checks or make frequent transfers, a bank that charges per transaction will cost more than one with unlimited activity.
Keeping your LLC and personal finances separate
The whole reason to open a business account is to keep your LLC's money separate from your personal money. This separation protects you legally. If your LLC is sued, a court is more likely to hold the LLC liable rather than your personal assets if you have kept the finances clearly separate. If you mix personal and business money in one account, a court may "pierce the corporate veil" and go after your personal bank account.
From day one, deposit all business income into the business account and pay all business expenses from it. Do not use it for personal purchases, and do not deposit personal income into it. This is not complicated, but it is essential. Your accountant will thank you at tax time, and your lawyer will thank you if the LLC ever faces a lawsuit.
Frequently Asked Questions
Do I need an EIN if I am the only owner of my LLC?
Yes. Even a single-member LLC needs an EIN to open a business bank account. The bank uses it to report account activity to the IRS. You can get one online in 15 minutes at no cost.
Can I use my Social Security number instead of an EIN?
No. Banks will not accept a Social Security number in place of an EIN for an LLC business account. The EIN is the legal identifier for the business itself, separate from the owner's personal tax ID.
What if my articles of organization are not certified?
A certified copy — stamped by the state — is preferred, but many banks will accept an uncertified copy if it shows the state filing date and your LLC's legal name. Call the bank first to ask. If they will not accept it, you can order a certified copy from your state's business filing office for a small fee, usually $5 to $15.
How long does it take to open an account in person?
Usually 30 minutes to an hour if you have all your documents. The banker will verify your identity, review your LLC documents, ask about the nature of your business, and set up the account. You leave with your account number and debit card information.
Can I open a business account online if I have not received my EIN letter yet?
Yes. Upload a screenshot or printout of your online EIN confirmation from the IRS website. Most banks accept this as proof while you wait for the official letter. If the bank refuses, ask to speak to the account manager; they can usually override the requirement once they see the IRS confirmation.