What You'll Need Before You Walk In
Most banks want the same core set of documents before they'll open a business account: proof that your business exists, proof of who owns it, and proof of your identity. The exact list depends on your business structure — a sole proprietorship needs different paperwork than an LLC or corporation — and on the bank itself. Some banks are stricter than others, and some specialize in certain business types.
The fastest way forward is to call the bank's business line before you go in and ask what they need for your specific structure. Banks often post their requirements online, but a five-minute phone call saves you a wasted trip.
Key Takeaways
- Every bank needs your personal ID, your Social Security number or EIN, and proof your business exists — the form of that proof depends on whether you're a sole proprietor, LLC, S-corp, or C-corp.
- Sole proprietors usually need only a driver's license and Social Security number, but some banks also ask for a DBA certificate or business license.
- LLCs and corporations must bring their Articles of Organization or Articles of Incorporation, plus an EIN letter from the IRS.
- Some banks require a minimum deposit to open the account, which ranges from zero to several hundred dollars depending on the bank and account type.
- Bring originals or certified copies of documents — banks rarely accept photocopies or digital images for the initial opening.
Documents for Sole Proprietors
If you operate as a sole proprietor — meaning you haven't filed any formal business structure with your state — you need the least paperwork. Bring a government-issued photo ID (driver's license or passport), your Social Security number, and your personal address. That's often enough.
Some banks also ask for a DBA certificate (Doing Business As), which you file with your county or state if you operate under a name other than your legal name. If you've filed one, bring it. If you haven't and the bank asks, you can usually file it while you're there or shortly after. A few banks also want to see a business license, which you get from your city or county — check with your city's business licensing office to see whether you need one before opening the account.
Banks may also run a personal credit check on you as a sole proprietor, since the business and your personal finances are legally the same thing.
Documents for LLCs and Corporations
If you've formed an LLC, S-corp, or C-corp, bring your Articles of Organization (for an LLC) or Articles of Incorporation (for a corporation). These are the documents you filed with your state's Secretary of State office when you created the business. Bring an original or certified copy — banks almost never accept photocopies for this step.
You also need an EIN letter from the IRS. This is a one-page document the IRS sends you when you apply for an Employer Identification Number (EIN). If you applied online, you can print it immediately from the IRS website. If you applied by mail, the letter arrives in about two weeks. Some banks will let you open an account with just your EIN number and complete the paperwork later, but most want to see the actual letter.
Bring your personal ID and Social Security number as well. The bank will also ask who the authorized signers are — the people allowed to withdraw money and make decisions about the account. Have their names, titles, and personal IDs ready.
What Banks Ask About Your Business
Beyond documents, banks ask questions about what your business does, how much money you expect to move through the account each month, and whether you'll be receiving checks, making wire transfers, or processing credit cards. These questions help the bank decide which account type fits you and whether they want your business.
Be honest about your expected monthly volume. Banks use this to flag accounts that suddenly show unusual activity later — if you said you'd move $5,000 a month and suddenly deposit $50,000, they may freeze the account while they investigate. You can always update this information later if your business grows.
Some banks also ask about the source of your initial deposit. If you're depositing a large sum, be ready to explain where it came from — personal savings, a loan, an investor, or something else. This is standard anti-money-laundering procedure, not a sign of suspicion.
Minimum Deposits and Account Fees
Many banks require a minimum opening deposit, which ranges from zero to several hundred dollars. Some accounts have no minimum; others require $100, $500, or more. The bank's website usually lists this, or you can ask when you call ahead.
Ask about monthly fees, per-check fees, wire transfer fees, and overdraft fees. These vary widely between banks. Some business accounts are free if you maintain a certain balance or set up direct deposit. Others charge a flat monthly fee regardless. A few banks offer accounts with no monthly fee at all, though they may charge per transaction instead.
What to Bring in Person
| Business Structure | Required Documents | Additional Items |
|---|---|---|
| Sole Proprietor | Photo ID, Social Security number | DBA certificate (if filed); business license (if required by city) |
| LLC | Articles of Organization (original or certified copy), EIN letter, photo ID, Social Security number | List of authorized signers with their IDs |
| S-Corp or C-Corp | Articles of Incorporation (original or certified copy), EIN letter, photo ID, Social Security number | List of authorized signers with their IDs; corporate bylaws (some banks request this) |
Bring originals or certified copies. Banks will not accept photocopies or photos of documents for the initial opening. If you don't have a certified copy, ask the issuing agency (your state's Secretary of State, your county clerk, or the IRS) how to get one — it usually costs $5 to $25 and takes a few days to a week.
Bring your checkbook if you have one already ordered, though this isn't required. Some banks can order checks for you on the spot or within a few days. Bring a list of any authorized signers — people other than you who can access the account — along with their photo IDs and Social Security numbers if the bank requires it.
What Happens After You Apply
The bank will review your documents, run a background check (usually checking ChexSystems, a banking history database), and decide whether to open the account. For most straightforward applications, this takes a few minutes to a few hours. Some banks approve you on the spot; others call you within a day or two.
Once approved, the bank will give you temporary checks or a debit card, and your account number. You can start using the account immediately, though official checks may take a week or two to arrive. If the bank denies your application, they'll tell you why — common reasons include a negative ChexSystems report, a mismatch in your documents, or the bank's policy against your industry.
Frequently Asked Questions
Can I open a business account online without going to the bank?
Some banks offer online business account opening, but most still require you to visit in person or have a video call with a banker to verify your identity and documents. Online opening is faster if available, but you'll usually need to upload clear photos of your documents and may need to verify your identity through a video call. Call your bank to ask whether they offer this option.
What if I don't have an EIN yet?
You can apply for an EIN online at the IRS website (irs.gov) and get it immediately. Print the confirmation page — that's your EIN letter. If you're a sole proprietor, you can use your Social Security number instead of an EIN, though many banks prefer an EIN for business accounts. LLCs and corporations must have an EIN before opening an account.
Do I need a business license to open a bank account?
It depends on your city and industry. Some cities require all businesses to have a license; others don't. Call your city's business licensing office or check their website. If you need one, you can usually get it before opening the account, though some banks will let you open the account and file for the license afterward.
What if the bank asks for documents I don't have?
Ask the bank which documents are required and which are optional. If a document is required but you don't have it, ask how to get it — the bank can often tell you where to request a certified copy or how long it takes. If you're missing something you can't quickly get, ask whether the bank will open the account provisionally and let you submit it later.
Can someone else open the account on my behalf?
No. The bank needs to verify your identity in person or by video. You must be present, even if you have an authorized signer. Some banks allow a co-owner or partner to open a joint business account if both of you are present with your IDs and documents.