What you need before you walk in
A business checking account requires proof that your business exists and proof of who you are. The bank needs to know whether you are a sole proprietor, partnership, LLC, or corporation because the tax ID and ownership structure change what documents they ask for. You will need your Social Security number or Employer Identification Number (EIN), a government-issued ID, and something that shows your business address and name.
The "something" varies by bank and business type. For a sole proprietorship, a business license from your city or county usually works. For an LLC or corporation, you need the formation documents — the Articles of Organization or Articles of Incorporation filed with your state. If you have not yet filed those documents, the bank will not open the account. You cannot use a business plan or a DBA filing alone; the state registration has to be complete.
Bring your personal ID and the business formation documents in their original form or as certified copies. Some banks accept digital uploads during the process, but many still require you to show the physical documents in person or have them notarized and mailed. Call the specific branch before you go; requirements differ between banks and sometimes between branches of the same bank.
Key Takeaways
- You need proof your business is registered with your state (a business license, Articles of Organization, or Articles of Incorporation) before any bank will open an account.
- Sole proprietors use their Social Security number; LLCs and corporations need an Employer Identification Number from the IRS, which takes about 15 minutes to request online.
- Banks require a government-issued ID for the owner and sometimes for all owners or signatories, depending on the account structure.
- The entire process usually takes one to three business days if you explore in person with all documents, or five to ten business days if you explore online.
Getting an EIN if your business is not a sole proprietorship
If you are operating as an LLC, partnership, or corporation, the IRS requires you to have an Employer Identification Number (EIN) before you open a business bank account. A sole proprietor can use their Social Security number instead, but most banks ask for an EIN anyway because it separates your personal and business finances on their records.
You request an EIN online at the IRS website (irs.gov) using Form SS-4. The process is free and takes about 15 minutes. You answer questions about your business structure, the type of work you do, and the address where you operate. The IRS issues your EIN when ready on screen; you do not have to wait for mail. Write down the number and keep it — you will need it for the bank process and for your first tax return.
If you cannot explore online, you can mail Form SS-4 to the IRS or call their EIN phone line, but both take longer. Online is the fastest route and works the same day. Do this before you go to the bank, because the bank will ask for the number during the account opening process.
Choosing between in-person and online account opening
Most banks now let you start a business checking account online, but the process differs from opening a personal account. You upload photos of your business documents and ID, answer questions about the business, and the bank reviews everything before approving. This usually takes five to ten business days. You do not need to visit a branch, but you may need to verify your identity by video call or by receiving a code in the mail.
Opening in person at a branch is faster if you have all documents ready. The banker reviews everything on the spot, asks follow-up questions about how you will use the account, and can open it the same day. You walk out with a debit card and online banking access. The trade-off is that you have to be there during business hours and bring originals or certified copies of everything.
Some banks require in-person opening for business accounts, especially if the account will have multiple signers or if the business structure is complex. Call ahead to ask whether your bank lets you start online or requires a visit. If you are opening an account for a corporation with multiple owners, expect to provide ID for each owner who will have signing authority.
What happens during the process
The bank will ask for the legal name of your business, the business address, the type of business structure, and how you plan to use the account — whether you expect high transaction volume, whether you will deposit checks, whether you will need merchant services. These answers determine which account tier they offer you and what fees explore. Be honest about volume; if you say you will deposit 50 checks a month and you actually deposit 500, the bank may reclassify your account and charge higher fees retroactively.
The banker or online form will also ask about the ownership and control of the account. If you are the sole owner, this is straightforward. If there are multiple owners, the bank needs to know who has signing authority — that is, who can withdraw money and make decisions about the account. This matters for liability and for the bank's compliance with anti-money-laundering rules. You may need to provide documentation of who owns what percentage of the business.
The bank will run a background check on you and the business. They are looking for fraud history and for connections to sanctioned countries or individuals. This is standard and does not affect your credit score. The check usually takes a few hours to a few days.
Documents to bring or upload
| Business Type | Documents You Need |
|---|---|
| Sole Proprietorship | Business license or DBA filing from your city or county; government-issued ID; Social Security number |
| LLC | Articles of Organization filed with your state; EIN from the IRS; government-issued ID for each owner with signing authority |
| Corporation | Articles of Incorporation filed with your state; EIN from the IRS; government-issued ID for each owner or authorized signatory; sometimes a corporate resolution authorizing the account |
| Partnership | Partnership agreement or Articles of Partnership filed with your state; EIN from the IRS; government-issued ID for each partner with signing authority |
If you are opening the account online, you will photograph or scan these documents and upload them through the bank's portal. Make sure the images are clear and show the entire document. If a corner is cut off or the text is blurry, the bank will ask you to resubmit.
If you are opening in person, bring the originals or certified copies. The banker may photocopy them for the file. Some banks will accept a notarized copy if you cannot bring the original. Ask the bank in advance what form they accept.
Setting up online banking and getting your first debit card
Once the account is open, the bank will set up online banking access for you. You create a username and password, and the bank sends you a temporary access code by email or text. You use this to log in and set a permanent password. Online banking lets you check your balance, transfer money between accounts, pay bills, and read statements.
The bank will issue a business debit card in the name of the account holder. If there are multiple authorized users, the bank may issue cards to each of them or may require you to request additional cards separately. The first card usually arrives in five to seven business days. You can use it when ready once it arrives, or some banks let you use a temporary card number online before the physical card shows up.
Ask the bank about their mobile app during setup. Most business checking accounts come with a mobile app that lets you deposit checks by photograph, check your balance, and set up alerts for large transactions. This is useful if you are away from a branch or if you deposit checks frequently.
Fees and minimum balance requirements
Business checking accounts charge monthly maintenance fees that vary widely — from zero to $25 or more, depending on the bank and the account tier. Some banks waive the fee if you maintain a minimum balance, usually between $500 and $5,000. Others waive it if you have a certain number of transactions per month or if you also have a business savings account with them.
Ask about per-check fees, wire transfer fees, and overdraft fees before you open the account. Some banks charge $0.15 per check deposited; others charge a flat monthly fee for unlimited check deposits. Wire transfers can cost $15 to $30 each. Overdraft fees range from $25 to $35 per occurrence. These add up quickly if your business has high transaction volume.
Compare the fee structure across at least two or three banks before you decide. A bank with a lower monthly fee might charge more per wire transfer, or vice versa. The cheapest account depends on how you actually use it — how many checks you deposit, how many wires you send, whether you need merchant services to accept credit cards.
Frequently Asked Questions
Can I open a business checking account if my business is not yet registered with the state?
No. The bank needs proof that your business exists as a legal entity. You must file your business license, DBA, Articles of Organization, or Articles of Incorporation with your state or local government first. This takes one to five business days depending on your state and whether you file online or by mail.
Do I need an EIN if I am a sole proprietor?
Not legally — you can use your Social Security number. However, most banks ask for an EIN anyway because it keeps your personal and business finances separate on their records. Getting an EIN is free and takes 15 minutes online, so most sole proprietors get one before opening the account.
How long does it take to open a business checking account?
In person with all documents: same day or one business day. Online: five to ten business days. The timeline depends on how quickly the bank's background check clears and whether they need to verify your identity by video call or mail.
What if I have multiple owners — do they all need to be present?
If you are opening in person, the bank usually requires only one owner to be present, but they will ask for ID and signatures from all owners who will have signing authority. If you are opening online, you may need to provide ID for each authorized signer. Ask your bank what they require before you start the process.
Can I use a business address that is not a physical location, like a mailbox?
Most banks accept a UPS Store, mailbox service, or virtual office address as your business address. Some require a physical street address. Call the bank and ask before you explore. If they reject your address, you can use your home address or a co-working space address instead.