What you need before you walk into a bank

A business checking account requires different paperwork than a personal account, and what you bring depends on what kind of business you are. Banks will ask for proof that your business exists as a legal entity, proof of your identity, and usually an initial deposit. The exact documents vary by bank and by business structure — a sole proprietorship needs different forms than an LLC or corporation.

Start by gathering your Employer Identification Number (EIN), which the IRS issues to most businesses. You can get one free from the IRS website or by phone, and it takes minutes. If you are a sole proprietor with no employees, you can use your Social Security number instead, though many banks prefer an EIN. You will also need a government-issued photo ID, your Social Security number, and proof of your business address — a utility bill, lease, or mortgage statement works.

If your business is structured as an LLC, corporation, or partnership, bring your Articles of Organization or Articles of Incorporation — the legal document you filed with your state. If you have not filed yet, you cannot open a business account; you must complete that step first. Some banks will accept a Certificate of Good Standing from your state, which proves your business is registered and current.

Key Takeaways

  • You need an EIN (or your Social Security number for sole proprietors), a photo ID, and proof your business is registered with your state before any bank will open an account.
  • Different banks require different minimum deposits, ranging from zero to several thousand dollars, so call ahead and ask what the account requires.
  • The process usually takes one to three business days from the time you submit all documents, though some banks offer same-day opening if you apply online.
  • You will receive routing and account numbers immediately or within a few days, which you need to set up payroll, pay vendors, and receive customer payments.
  • Banks charge monthly fees for business accounts, typically $10 to $30, though some waive fees if you maintain a minimum balance or set up direct deposit.

Which documents to bring to the bank

The bank will ask for a completed application form, which they provide. Bring your photo ID — a driver's license or passport — and your Social Security number. If you have an EIN, bring the letter the IRS sent you when they issued it, or have the number ready to provide verbally.

For business structure, bring one of these: your Articles of Organization (for an LLC), Articles of Incorporation (for a corporation), a partnership agreement (for a partnership), or a Certificate of Good Standing from your state's Secretary of State office. If you are a sole proprietor operating under your own name, you may not need to file anything, but if you are using a business name, bring proof that you registered it with your state or county — often called a DBA (Doing Business As) certificate or trade name registration.

Bring proof of your business address. This can be a utility bill, lease agreement, mortgage statement, or property tax bill in your business's name. If your business address is your home, a utility bill or lease in your personal name at that address works. Some banks also accept a recent business license or a letter from a landlord confirming your occupancy.

How to choose between in-person and online opening

Most banks let you start the process online and finish in person, or complete the entire application online if you have all documents ready. Online opening is faster — some banks finish the same day — but you may still need to visit a branch to verify your identity or deposit a check. In-person opening takes longer but lets you ask questions and understand the account features before you commit.

If you open online, upload or photograph your documents directly into the bank's portal. The bank will review them and contact you if anything is missing. Some banks use video verification, where you show your ID to a camera and answer security questions. This can take 15 to 30 minutes and happens immediately or within a few hours.

In-person opening at a branch is straightforward: bring your documents, fill out the application with a banker, and they verify everything on the spot. This usually takes 30 to 45 minutes. You will receive your account number and routing number the same day, though your debit card and checks arrive by mail within five to ten business days.

Minimum deposits and monthly fees

Minimum deposits vary widely. Some banks require zero dollars to open; others ask for $100, $500, or $2,500. A few require $10,000 or more. Call the bank or check their website before you go, because if you do not meet the minimum, they will not open the account. The minimum is separate from the initial deposit you make to fund the account — you can deposit more than the minimum, but not less.

Monthly maintenance fees typically range from $10 to $30, though some banks charge $50 or more for premium accounts. Many banks waive the fee if you maintain a minimum balance (often $1,000 to $5,000), set up direct deposit, or keep a certain number of transactions per month. Read the fee schedule carefully, because what looks like a free account may have hidden charges for wire transfers, overdrafts, or stop payments.

Some banks offer introductory periods where they waive fees for the first three to six months. After that, the regular fee applies unless you meet the waiver conditions. Ask the banker or check the disclosure document they give you — it lists every fee the bank charges.

What happens after you open the account

Once the account is open, you receive your account number and routing number immediately (online) or the same day (in person). You need these to set up payroll, pay bills by ACH transfer, receive payments from customers, and provide to vendors who pay you by check or direct deposit. Write them down or take a photo — you will reference them often.

Your debit card arrives by mail within five to ten business days. Checks take longer — usually seven to fourteen business days — so if you need to write checks immediately, ask the bank if they can print them faster or if you can order them from a third-party printer. Some banks let you order checks online and have them shipped to you.

Set up online banking as soon as you receive your login credentials. This lets you check your balance, transfer money, pay bills, and deposit checks by phone camera (mobile deposit). Most banks offer these features free with a business account. You can also set up alerts that notify you when your balance drops below a certain amount or when a large deposit arrives.

Sole proprietors and the Social Security number question

If you are a sole proprietor — you own the business by yourself and have not formed an LLC or corporation — you can open a business account using your Social Security number instead of an EIN. However, most banks prefer an EIN because it separates your personal finances from your business finances, which is important for taxes and liability.

Getting an EIN is free and takes five minutes online at irs.gov or by phone at 1-800-829-4933. You do not need to have filed any paperwork with your state first. Once you have the EIN, use it on the business account application instead of your Social Security number. This keeps your personal credit separate from your business credit and makes tax filing simpler.

If you operate under a business name (not your own name), you must register that name with your county or state before opening the account. This is usually called a DBA registration or trade name registration. Bring the certificate to the bank as proof that the name is registered to you.

What to do if the bank rejects your application

Banks sometimes reject business account applications because of incomplete paperwork, a mismatch between the name on your ID and the business name, or because your business structure is not registered with the state. If this happens, ask the bank specifically what is missing or wrong. Do not assume — get the reason in writing if possible.

Common rejection reasons: your LLC or corporation paperwork has not been filed yet (file it with your state first), your business address does not match your ID (update your address or provide a letter from your landlord), or your EIN does not match the business name (verify the EIN with the IRS). If the bank says your business is flagged in their system, ask why and what you can do to clear it.

If one bank rejects you, try another. Different banks have different standards. Credit unions often have simpler requirements than large national banks. Community banks may be more flexible with newer businesses. Shop around before you give up.

Frequently Asked Questions

Can I open a business account if my LLC is not registered yet?

No. You must file your Articles of Organization with your state and receive confirmation before the bank will open an account. This takes one to five business days depending on your state. File online through your state's Secretary of State website, then bring the confirmation to the bank.

Do I need a business license to open a checking account?

Not always. A business license is required by some cities and counties but not others, and it is separate from registering your business structure. A bank will open an account based on your EIN and business registration, but some banks may ask for a license if your city requires one. Call your city or county clerk to learn about you need one.

How long does it take to get my account number and routing number?

You receive them the same day if you open in person or online with video verification. If you open online without video, the bank may email them to you within one to three business days. You need these numbers to set up payroll and receive payments, so ask for them immediately after approval.

Can I use my personal bank account for my business?

Legally, yes, but it is not recommended. Mixing personal and business money makes taxes harder, complicates liability protection, and looks bad to the IRS if you are audited. A business account costs $10 to $30 per month and keeps everything separate and clear.

What if I do not have a physical business address yet?

Some banks accept a home address, a UPS mailbox address, or a virtual office address. Call the bank and ask what they accept before you apply. If you use a mailbox, bring the receipt or agreement showing you rent it. If you use your home, bring a utility bill or lease at that address.