Yes, you can open a Wells Fargo business bank account online, but you'll need to start the process on their website and finish it in person or by phone

Wells Fargo allows you to begin a business account application through their website, but they do not complete the entire process online. You can enter your business information, choose your account type, and review fees from home. However, you must verify your identity and sign documents either at a Wells Fargo branch in person or by phone with a business banker. This two-step process takes a few days to a couple of weeks depending on which verification method you choose.

The reason for the in-person or phone requirement is that Wells Fargo needs to confirm you are who you say you are and that you have authority to open an account on behalf of the business. This is a federal requirement for all banks, not just Wells Fargo.

Key Takeaways

  • You can start your Wells Fargo business account application online, but you must complete verification either in person at a branch or by phone with a business banker.
  • You will need your Social Security number or Individual Taxpayer Identification Number, business license or formation documents, and a government-issued ID.
  • Wells Fargo offers several business account types online, including checking, savings, and money market accounts, each with different monthly fees and minimum balance requirements.
  • The entire process from application start to account opening typically takes three to ten business days, depending on how quickly you complete the verification step.

What documents you need before you start

Gather these items before you begin the online application. You will need your Social Security number or ITIN, a government-issued photo ID (driver's license, passport, or state ID), and proof of your business structure. Proof of business structure means different things depending on how your business is organized: if you are a sole proprietor, you may only need your ID and Social Security number; if you are an LLC, partnership, or corporation, you need your formation documents (Articles of Organization, Articles of Incorporation, or partnership agreement) or a business license issued by your state or local government.

You will also need the business's Employer Identification Number (EIN) if you have one. If your business is brand new and you have not yet received an EIN from the IRS, you can still open an account using your Social Security number, though Wells Fargo may ask you to provide the EIN later. Have your business address and phone number ready as well.

Steps to start your application online

Go to wellsfargo.com and navigate to the business banking section. Look for the link to open a new business account. You will be asked to choose your business structure (sole proprietor, LLC, partnership, S-corporation, C-corporation, or nonprofit). Select the one that matches your business.

Next, enter your personal information (name, date of birth, Social Security number or ITIN) and your business information (business name, address, industry, and estimated monthly transaction volume). Wells Fargo will ask what type of account you want to open. Most small businesses start with a business checking account, but you can also choose a savings account or money market account at this stage. Review the monthly fees, minimum balance requirements, and features for each account type before you decide.

At the end of the online application, you will see a summary of what you entered and the next steps. Wells Fargo will tell you whether you need to visit a branch or whether a business banker will call you to complete verification. Do not close the browser until you have written down your application reference number — you will need it when you complete the verification step.

Completing verification in person at a branch

If you choose to finish your application at a branch, bring your government-issued photo ID, your Social Security card or ITIN documentation, and your business formation documents or license. A Wells Fargo banker will review your application, confirm your identity by checking your ID against the information you entered online, and have you sign the account agreement and signature card.

This step usually takes 15 to 30 minutes. The banker may ask questions about the nature of your business, expected monthly deposits and withdrawals, and who will have access to the account. Your account may be opened the same day, though it can take one to two business days for the account number to be fully activated and for you to access online banking.

Completing verification by phone with a business banker

If you choose phone verification, a Wells Fargo business banker will call you at the number you provided in your application. This call typically happens within one to three business days. The banker will confirm your identity by asking security questions based on your credit report and the information you entered online. They will also review your business details and ask about the account's intended use.

During the call, you will need to sign documents electronically or receive them by email to sign and return. Some documents may require a wet signature (your handwritten signature on paper), in which case Wells Fargo will mail them to you, and you will mail them back. This method takes longer — usually five to ten business days total — because of the mail time, but it is useful if you cannot visit a branch.

Account types and fees Wells Fargo offers online

Wells Fargo's most common business account is the Business Checking account. It has a monthly maintenance fee (the amount varies by account tier and region, typically $10 to $15) and a minimum opening deposit requirement (usually $100 to $500). This account includes online banking, bill pay, and a debit card.

The Business Savings account earns interest on your balance and has a similar monthly fee structure. The Business Money Market account combines checking and savings features and typically has a higher minimum balance requirement but may offer a higher interest rate. All three account types can be opened online, and all three require the in-person or phone verification step before they become active.

Wells Fargo also offers Business Sweep accounts and Business Merchant Services accounts, but these are usually set up after your main checking account is open. Ask the banker during verification if any of these services would be useful for your business.

What happens after your account opens

Once verification is complete and your account is approved, you will receive a confirmation email with your account number and routing number. You can log into Wells Fargo's online banking portal using your Social Security number and a password you create. Your debit card will arrive by mail within five to ten business days.

If you need to make deposits or payments before your debit card arrives, you can use Wells Fargo's mobile app to deposit checks by taking a photo, or you can visit a branch to make a deposit in person. Your account is ready to receive ACH transfers and wire transfers as soon as it opens, so you can have customers or clients send money to your account immediately if needed.

Frequently Asked Questions

Can I open a Wells Fargo business account if I don't have an EIN yet?

Yes. You can use your Social Security number to open the account. Wells Fargo may ask you to provide your EIN later once you receive it from the IRS, but it is not required to open the account initially.

How long does it take to open a Wells Fargo business account online?

The online application takes about 10 to 15 minutes to complete. Verification takes one to three business days if you do it by phone, or one business day if you visit a branch. Your account is usually active within one to two business days after verification is complete.

Do I have to visit a Wells Fargo branch to open a business account?

No. You can complete the entire process online and by phone. However, you must speak to a banker either in person or by phone — the entire application cannot be done online without human verification.

What if I'm opening an account for an LLC or corporation?

You will need to provide your Articles of Organization (for an LLC) or Articles of Incorporation (for a corporation), or a business license. You will also need a government-issued ID for the person opening the account. Wells Fargo may ask for additional documentation if your business structure is complex.

Can I open multiple business accounts with Wells Fargo online?

Yes. Once your first account is open, you can open additional accounts online without going through the full verification process again. You can add a savings account, money market account, or additional checking account through your online banking portal or by calling a business banker.