What you need before you walk in

A business bank account separates your personal money from your business money, which protects both you and makes taxes simpler. To open one, you need to show the bank that your business exists and that you have the right to manage its money. The exact documents depend on what kind of business you run, but most banks want the same core things: proof of who you are, proof of what your business is, and permission to act on the business's behalf.

Start by gathering documents before you call or visit a bank. Having them ready means you can open the account in one visit instead of going back and forth. If you do not have all of them yet, the bank can tell you which ones are truly required and which ones are optional.

Key Takeaways

  • You will need a government-issued ID, proof that your business exists (such as articles of incorporation or a DBA certificate), and an Employer Identification Number (EIN) from the IRS, even if you are a sole proprietor.
  • Different business structures — sole proprietorship, LLC, corporation, partnership — require different documents, so tell the bank what type of business you have before you arrive.
  • Many banks now let you start the process online, but you may still need to visit in person or send documents by mail to finish opening the account.
  • Bring your Social Security Number or EIN, a recent utility bill or lease showing your business address, and any formation documents the state gave you when you registered your business.

Documents for a sole proprietorship

A sole proprietorship is a business with one owner — you — and no separate legal structure. The bank still needs to know you exist and that you are the owner, so bring your government-issued ID (driver's license, passport, or state ID card) and your Social Security Number. The bank will use your Social Security Number as your business tax ID unless you have obtained an Employer Identification Number (EIN) from the IRS.

You will also need proof of your business address. This can be a utility bill, lease agreement, or mail from a government agency showing your name and the address where you run the business. If you work from home, a recent utility bill with your home address works. Some banks also ask for a DBA certificate — a document from your state or county saying you are doing business under a name other than your legal name — but only if you use a business name. If you use your own name as your business name, you may not need one.

Documents for an LLC or corporation

If you formed an LLC or corporation, the bank needs to see that the business legally exists. Bring your Articles of Incorporation (for a corporation) or Articles of Organization (for an LLC). These are the documents your state gave you when you registered the business. You will also need an EIN from the IRS, even if you are the only owner. You can get an EIN for free at irs.gov or by calling the IRS.

The bank will also ask for a document showing who has the power to open and manage the account. For an LLC, this is usually the Operating Agreement. For a corporation, it is usually the Board Resolution or Corporate Resolution. These documents say that you, as the owner or manager, have permission to act on behalf of the business. If you do not have these documents yet, ask the bank whether they are required or optional — some banks will open the account without them if you bring your Articles and your ID.

Bring your government-issued ID, your Social Security Number, and proof of your business address, just as you would for a sole proprietorship. The bank will use your EIN as the business tax ID.

Documents for a partnership

A partnership is a business with two or more owners. Each partner will need to bring a government-issued ID and Social Security Number. The bank will also need a Partnership Agreement — the document that says how the partnership is run and who can make decisions. If you do not have a written Partnership Agreement, some banks will ask you to sign one before opening the account.

The bank needs to know which partners can sign checks and make decisions about the account. This is usually spelled out in the Partnership Agreement, but if it is not, the bank will ask you to clarify. You will also need an EIN from the IRS. Bring proof of your business address, such as a utility bill or lease at the location where the partnership operates.

The step-by-step process

Start by choosing a bank. You can open an account at a traditional bank with physical branches, an online bank, or a credit union. Each has different requirements and fees, so compare a few before you decide. Once you have chosen, contact the bank and ask what documents they need for your type of business. Some banks have a checklist on their website.

Gather your documents and bring them with you, or upload them if the bank lets you start the process online. If you are opening in person, bring the originals — the bank will usually make copies. If you are opening online, you may need to photograph or scan the documents. Some banks will ask you to mail originals later to confirm they match the copies.

The bank will verify your information, run a background check, and check your Social Security Number or EIN against IRS records. This usually takes a few minutes to a few hours if you are in person, or one to three business days if you are opening online. Once the bank approves, you will get account numbers, online banking access, and a debit card or checks.

What happens if you do not have an EIN yet

If you have not yet obtained an EIN, you can get one before you open the account or after. Getting one before is faster — you can do it online at irs.gov in about 15 minutes, and the IRS will give you the number when ready. If you wait until after you open the account, the bank can sometimes help you explore, but this adds time.

If you are a sole proprietor, you can use your Social Security Number instead of an EIN, so you do not have to get one. However, many sole proprietors get an EIN anyway because it keeps their personal and business finances more separate and can make taxes clearer. The choice is yours.

Online versus in-person accounts

Many banks now let you start opening an account on their website. You upload photos of your documents, enter your information, and the bank reviews everything. This is faster than visiting a branch, and you can do it at any time. However, some banks still require you to visit in person to verify your ID or to sign documents in front of a banker.

Online banks (banks with no physical branches) usually complete the entire process online, including identity verification through video call. Traditional banks with branches often let you start online but may ask you to come in to finish. Ask the bank what their process is before you start, so you know what to expect.

Frequently Asked Questions

Can I open a business account without an EIN?

If you are a sole proprietor, yes — you can use your Social Security Number instead. For an LLC, corporation, or partnership, the bank will require an EIN. You can get one free from the IRS at irs.gov or by phone in about 15 minutes.

What if I do not have a DBA certificate yet?

If you are a sole proprietor using a business name, you may need a DBA (Doing Business As) certificate from your county or state. Ask the bank whether it is required before you explore. If it is, you can usually get one from your county clerk's office in a few days.

How long does it take to open a business account?

In person, it usually takes 15 to 30 minutes if you have all your documents. Online, it takes a few minutes to upload documents, but the bank's review can take one to three business days. Some banks are faster than others.

Do I need a business address that is not my home?

No. Most banks accept a home address as your business address. You just need to show proof that you live there, such as a utility bill or lease. Some banks ask for a separate mailing address if it is different from where you run the business.

What if I am opening the account for a business I have not officially registered yet?

For a sole proprietorship, you do not have to register anything — you can open an account right away. For an LLC or corporation, you need to file Articles of Organization or Incorporation with your state first. This usually takes a few days to a few weeks depending on your state.