Yes, an LLC can open a Chase business checking account, but Chase requires specific documents and proof that your LLC actually exists
Chase will open a business checking account for an LLC, but you cannot walk in with just an idea. You need an Employer Identification Number (EIN) from the IRS, articles of organization filed with your state, and a government-issued ID for the person signing the account paperwork. Chase also requires proof of the LLC's business address — a lease, utility bill, or mortgage statement in the business name works. If you have not yet filed your articles of organization or obtained an EIN, you cannot open the account until you do.
The account itself works like any other Chase business checking account: you get a debit card, online banking, and the ability to write checks. The main difference is that Chase treats the LLC as the account holder, not you personally. This means the account is in the LLC's name, and only people you authorize can access it.
Key Takeaways
- You must have an EIN from the IRS and filed articles of organization with your state before Chase will open an account for your LLC.
- Bring your LLC's articles of organization, an EIN verification letter, a government-issued ID, and proof of your business address to the Chase branch.
- Chase may ask for a business license or certificate of good standing depending on your state and the type of business you run.
- The account is held in the LLC's name, so you will need to authorize which members or managers can access it and make decisions.
Documents Chase will ask for when you open the account
Bring your articles of organization — the document you filed with your state to create the LLC. Chase needs to see that the LLC legally exists. If you filed electronically, print a copy from your state's business filing website or request a certified copy from the secretary of state's office.
You also need an EIN verification letter from the IRS. This is not the same as your EIN itself. You can get this letter by logging into the IRS's online account or calling 1-800-829-4933. The letter shows Chase that the IRS recognizes your LLC and has assigned it a number. If you just received your EIN by phone or online and have not yet received a letter in the mail, call the IRS and ask them to email or fax you verification.
Bring a government-issued photo ID — a driver's license or passport — for the person who will be the authorized signer on the account. Chase also needs proof of your business address: a lease, utility bill, mortgage statement, or property tax bill with the LLC's name and address on it. If the business is brand new and you have not yet received a utility bill, a signed lease or a letter from your landlord stating the address and move-in date will work.
Depending on your state and industry, Chase may also ask for a business license or a certificate of good standing from your state's secretary of state office. This varies by location, so call your local Chase branch before you go in and ask what they need for your specific state.
What happens if you do not have an EIN yet
You cannot open the account without an EIN. You must obtain one before you visit Chase. The fastest way is to apply online at the IRS website (irs.gov) — you can get an EIN immediately and use it the same day. You can also apply by phone at 1-800-829-4933, which takes about 15 minutes. If you apply by mail, it takes two to four weeks.
Once you have the EIN, request a verification letter from the IRS. If you applied online, you can print a confirmation immediately. If you applied by phone, ask the IRS representative to email or fax you verification so you do not have to wait for a letter in the mail.
Single-member versus multi-member LLCs
If your LLC has only one member (you), Chase will still open the account in the LLC's name. You will sign the paperwork as the owner, and the account belongs to the LLC, not to you personally. This separation is one of the main reasons to form an LLC in the first place — it protects your personal assets if the business is sued.
If your LLC has multiple members, Chase will ask which members are authorized to access the account and make withdrawals. You can designate one member, some members, or all members. Each authorized person will need to sign the account agreement. If you want to add or remove authorized users later, you can do that through Chase's online banking or by visiting a branch.
Opening the account in person versus online
Chase allows you to start a business checking account online, but for an LLC you will likely need to visit a branch in person or schedule a video call with a Chase representative. This is because Chase needs to verify your documents and confirm that the person opening the account is authorized to do so on behalf of the LLC. Online applications work best for sole proprietorships; LLCs usually require more verification.
Call your local Chase branch or visit chase.com to schedule an appointment. Bring all your documents with you. The appointment usually takes 20 to 30 minutes. Once the account is open, you can manage it entirely online or through the Chase mobile app.
Fees and account minimums
Chase business checking accounts have monthly fees that vary by account type. Some accounts have no monthly fee if you maintain a minimum balance or set up direct deposit. Others charge $15 to $20 per month regardless. Chase also charges per-check fees, wire transfer fees, and overdraft fees. The exact costs depend on which business checking product you choose.
When you open the account, ask the Chase representative which account type makes sense for your LLC's expected transaction volume. If you plan to write many checks or make frequent transfers, a higher-tier account might save you money in per-transaction fees, even if the monthly fee is higher.
What to do if Chase denies your application
Chase may deny your application if your LLC does not have a valid EIN, if your articles of organization are not on file with your state, or if you cannot provide proof of your business address. If this happens, ask Chase in writing what the specific reason was. Fix that issue — file your articles, get your EIN, or obtain a utility bill — and reapply.
Chase may also deny the application if the LLC's name is too similar to another business already in the Chase system, or if there is a problem with your personal credit or banking history. If you have had accounts closed for fraud or repeated overdrafts, Chase may decline. In that case, you can try a different bank, or you can ask Chase to reconsider after you have resolved the underlying issue.
Frequently Asked Questions
Do I need to be the only member of the LLC to open a Chase account?
No. Chase will open an account for an LLC with one member or multiple members. If there are multiple members, you will designate which ones are authorized to access the account and sign checks. Each authorized member will need to sign the account agreement.
Can I open a Chase business account if my LLC is in a different state than where I live?
Yes. You can open an account at any Chase branch, regardless of where your LLC is registered. Bring your articles of organization from your state, your EIN, and proof of your business address. The address can be in any state.
What if I do not have a physical business address yet?
You need a business address to open the account. This can be a home address, a rented office, a mailbox at a UPS store, or a coworking space. Chase will not accept a PO box. If you are using your home address, bring a utility bill or mortgage statement showing your name and address.
How long does it take to open a Chase business account for an LLC?
If you have all your documents ready and visit a branch in person, the account can be open the same day. If you apply online, it may take one to three business days for Chase to verify your information and activate the account. You can start using the account as soon as Chase confirms it is open.
Can I use my personal Social Security number instead of an EIN?
No. Chase requires an EIN for LLC accounts. Even if you are a single-member LLC, the IRS treats you as a separate business entity once you file articles of organization, and Chase will not open a business account without an EIN.