Yes, you can open most business bank accounts entirely online

Many banks and credit unions let you open a business checking or savings account without visiting a branch. The process typically takes 15 minutes to an hour, and you can fund the account the same day. However, not every bank offers full online opening, and some require you to verify your identity in person or by video call before the account goes live.

The speed and ease depend on your business structure, the bank you choose, and whether you already have a personal account there. A sole proprietorship is fastest; an LLC or corporation may need additional paperwork that slows things down.

Key Takeaways

  • Most major banks and many credit unions let you start a business account online, but you will need your Social Security number, EIN (if your business has one), and proof of business registration.
  • Sole proprietorships open faster than LLCs or corporations because they require fewer documents and less identity verification.
  • Some banks require a video call or in-person visit to verify your identity before the account becomes active, even if you start the application online.
  • You can usually fund the account immediately after approval using a transfer from your personal bank, a wire, or a check deposit.
  • Online-only banks and credit unions often have lower fees and higher interest rates than traditional banks, but may have fewer services like in-person deposits or business loans.

What documents and information you need before you start

Have these items ready before you begin an online application. You will need your Social Security number, your business name exactly as it appears on any registration documents, and your business address. If your business is registered as an LLC, S-corp, or C-corp, you will also need your Employer Identification Number (EIN), which you can get free from the IRS website if you do not have one yet.

Some banks ask for a copy of your business license, articles of incorporation, or operating agreement. You can usually upload these as a PDF or photo during the application. A few banks ask for a personal credit check; most do not. If the bank requires it, they will tell you upfront.

If you are opening the account under a business name that is different from your legal name, the bank will want proof that the name is registered — either a DBA (doing business as) certificate from your county or a copy of your LLC formation documents.

How the online opening process actually works

The application itself is straightforward. You enter your business and personal information, choose the account type (checking, savings, or both), and set up online banking access. The bank will ask for your phone number and email, which they use to send you a confirmation code.

After you submit the application, the bank verifies your identity. Some banks do this instantly using a database match; others send you a link to a video call with a representative who asks you to show your ID and answer security questions. This step usually happens within a few hours to a day. A few banks still require you to visit a branch in person, though this is becoming rare.

Once your identity is verified, the account is usually active immediately. You can log in to online banking, set up bill pay, and transfer money. Some banks hold new accounts for 24 to 48 hours before allowing transfers, as a fraud precaution.

Which banks let you open a business account fully online

Chase, Bank of America, Wells Fargo, and Citibank all let you open a business account online, though some require a video call to verify your identity. Credit unions often have faster online processes and lower fees, but you must be a member or meet membership requirements (which are usually easy — living in a certain area or working in a certain industry).

Online-only banks like Mercury, Brex, and Wise offer the fastest online opening — sometimes in under 10 minutes — and have no branch visits required. They typically charge lower monthly fees and offer higher interest on savings. However, they may not offer business loans, merchant services, or the ability to deposit cash or checks in person.

Regional banks vary widely. Some open accounts entirely online; others require a phone call or branch visit. When you find a bank you are interested in, look for "open a business account online" on their website or call their business line to ask whether video verification is required.

Sole proprietorships versus LLCs and corporations

A sole proprietorship opens fastest because the bank treats it as an extension of your personal account. You use your Social Security number instead of an EIN, and you do not need to upload formation documents. Most banks can open a sole proprietor account in under an hour.

An LLC or corporation requires more verification. The bank needs to confirm that the business actually exists and that you are authorized to open the account on its behalf. This means uploading your articles of incorporation or operating agreement, and sometimes providing a resolution or certificate of good standing from your state. The process usually takes one to three business days.

If you have not yet registered your LLC or corporation with your state, you cannot open a business account under that name. You will need to complete state registration first, which takes a few days to a few weeks depending on your state.

What happens after your account is approved

Once the account is active, you can fund it immediately. Most banks let you transfer money from your personal account at the same bank, or from another bank via ACH transfer (which takes one to three business days). You can also deposit a check by photographing it through the mobile app, or by mailing it to the bank's address.

Some banks offer a temporary debit card number that works immediately, while others mail you a physical card within five to seven business days. If you need to make purchases before the card arrives, ask whether the bank offers a virtual card number or a temporary digital wallet option.

Set up online banking and bill pay as soon as the account is active. Most banks let you do this during the application process or immediately after approval. You can also set up automatic transfers, payroll deposits, and invoice payment through the bank's business portal.

When you might need to visit a branch or do a video call

Some banks require a video call with a representative even though the application is online. This is usually a 5- to 10-minute call where they verify your identity by asking you to show your driver's license and answer security questions. The bank will send you a link to schedule the call, and it typically happens within 24 hours of your application.

A few banks still require an in-person visit, especially if you are opening an account with a high initial deposit or if the bank's fraud detection system flags your application for review. If this happens, the bank will contact you to schedule an appointment. You can usually do this at any branch, not just the one nearest you.

If you are uncomfortable with a video call or cannot do one, call the bank's business line and ask whether an in-person appointment is an option instead.

Fees and minimum balances to watch for

Monthly maintenance fees range from $0 to $25 depending on the bank and account type. Some banks waive the fee if you maintain a minimum balance (often $500 to $2,500) or set up direct deposit. Online-only banks typically have no monthly fee at all.

Check whether the bank charges for common transactions: wire transfers (usually $15 to $30), ACH transfers (usually free), check deposits (usually free), or overdrafts (usually $25 to $35 per occurrence). Some banks charge for paper statements or for having a human representative help you.

Ask about interest rates on savings accounts. Online-only banks often pay 4% to 5% annual interest on business savings, while traditional banks may pay less than 1%. If you keep a balance in savings, this difference adds up quickly.

Frequently Asked Questions

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

The application itself takes 15 minutes to an hour. Identity verification can happen instantly or take up to 24 hours. Once verified, the account is usually active the same day, though some banks hold new accounts for 24 to 48 hours before allowing transfers.

Do I need an EIN to open a business account online?

Not if you are a sole proprietor — you can use your Social Security number. If your business is an LLC, S-corp, or C-corp, you need an EIN. You can get one free from the IRS website in minutes, and it is active immediately for bank purposes.

Can I open a business account online if I do not have a business license yet?

It depends on the bank and your business structure. Sole proprietors can usually open an account without a license. LLCs and corporations need proof of registration with your state, but not necessarily a separate business license. Ask the bank what documents they need before you apply.

What if the bank requires a video call but I cannot do one?

Call the bank's business line and ask whether you can schedule an in-person appointment instead. Most banks offer this option, though it may take longer. Some banks also accept identity verification by mail if you send a copy of your ID and a signed form.

Can I open a business account online if I already have a personal account at that bank?

Yes, and it is usually faster. The bank already has your identity verified, so they may skip the video call or in-person visit. Log in to your personal account and look for an option to open a business account, or call the business line and mention you are an existing customer.