Documents and information you'll need before you walk in
Most banks want the same core set of documents to open a business checking account, though the exact list varies by bank and by the legal structure of your business. Have your Employer Identification Number (EIN) ready — the IRS issues this to almost all businesses, even sole proprietorships. If you don't have one yet, you can get it free from the IRS website in minutes, and many banks will let you open an account with a completed EIN application instead of the number itself.
You'll also need a government-issued photo ID for every person who will sign checks or access the account. Banks call these authorized signers. Bring your driver's license, passport, or state ID. If you're opening the account in person, the bank will verify it matches your name in their system.
Have your business's legal documents on hand. For a sole proprietorship, this might just be your business license or DBA (Doing Business As) certificate from your county. For an LLC, partnership, or corporation, bring a copy of your formation documents — the Articles of Organization, Articles of Incorporation, or Partnership Agreement, depending on your structure. Some banks ask for these; others don't. Calling ahead saves a trip back home.
Key Takeaways
- You need an EIN (or an application for one), a photo ID for each authorized signer, and proof of your business structure — usually your formation documents or business license.
- Banks verify your identity against their fraud databases, so bring the exact ID you used when you opened any personal accounts at that bank.
- If you're a sole proprietor, some banks will let you open an account using your Social Security Number instead of an EIN, though an EIN keeps your personal and business finances separate.
- Bring your business address and a personal address for each signer — banks need both to set up the account.
- Opening an account online is faster than in person at many banks, but you'll still need to upload or email copies of your documents.
Why banks ask for these documents
Banks are required by federal law to verify the identity of anyone opening an account and to confirm that the business itself is real. This is part of anti-money-laundering compliance. When you hand over your photo ID, the bank runs it against the Treasury Department's Office of Foreign Assets Control (OFAC) list and their own fraud databases. This takes minutes and protects both you and the bank.
The business formation documents serve a different purpose: they prove you have the legal right to open an account on behalf of the business. If you're an LLC member but not the manager, or a partner in a partnership, the bank needs to see that you're authorized to make financial decisions. For a sole proprietorship, this step is simpler — you are the business.
Information you'll provide on the application
Beyond documents, you'll fill out a form with basic business information. Have your business's legal name, the address where it operates, and your phone number ready. If your business is registered at a different address than where you work (for example, if you use a mail forwarding service), bring both addresses — banks ask for the registered address and the operational address.
You'll also state your business structure (sole proprietorship, LLC, S-corp, C-corp, partnership, or nonprofit) and describe what your business does in a sentence or two. Banks use this to flag high-risk industries — they're required to do extra checks for certain fields like cannabis retail or money transmission. If your business falls into one of these categories, the bank may take longer to approve the account or may decline it altogether.
Have your estimated monthly deposit and withdrawal volume ready. Banks don't use this to reject you, but they use it to assign you to the right account tier and to set initial transaction limits. If you say you'll deposit $500 a month and then deposit $50,000 in week one, the bank may freeze the account temporarily while they verify the source of the funds.
What you don't need (and what some banks will ask for anyway)
You do not need a business license to open a checking account at most banks, though some states or counties require one before you can legally operate. If your state requires a license and you don't have one yet, you can usually open the account with proof that you've applied for it. Call the bank first to ask.
You do not need a business plan, tax returns from previous years, or proof of funding. Banks opening accounts for new businesses don't ask for these. Some banks do ask for a personal credit report or will run a check on your personal credit history, but this is separate from the account opening and happens after you've submitted your documents.
A few banks ask for a voided check or deposit slip to verify your account number. If the bank asks, they'll tell you how to provide it — usually by email or upload during the application process. You don't need to bring a physical check to the branch.
Timeline from documents to account access
If you open the account in person with all documents ready, you can usually access it the same day or the next business day. The bank verifies your identity while you're there, and you walk out with a debit card and online access information. Some banks mail the debit card separately, which takes three to five business days.
If you open the account online, the timeline depends on how you submit your documents. If you upload them during the application, the bank reviews them within one to three business days. If you email them afterward, it may take longer — follow up if you don't hear back within a week. Once approved, you'll get online access immediately and a debit card in the mail within five to seven business days.
Sole proprietors: EIN or Social Security Number
As a sole proprietor, you have a choice. You can use your Social Security Number as your business tax ID, or you can get an EIN from the IRS. Many sole proprietors skip the EIN step because it's not required, but getting one keeps your personal and business finances completely separate in the eyes of the IRS and the bank.
If you use your Social Security Number, the bank will still open the account, but it will be linked to your personal credit history. If you use an EIN, the account is linked to your business's tax ID instead. This matters if you ever want to build business credit separately from personal credit, or if you want to keep your Social Security Number out of the banking system for security reasons.
Getting an EIN is free and takes five minutes online at irs.gov. You can start using it immediately, even before the IRS mails you the official letter. Many banks will open an account with just the EIN number you receive on screen.
What happens after you submit your documents
The bank's compliance team reviews your documents to make sure they match what you told them on the application. They check that your photo ID is current, that your business formation documents are real, and that your name appears on both. If something doesn't match — for example, if your ID says "Robert Smith" but your LLC is registered under "Bob Smith" — they'll call you to clarify.
They also run background checks and fraud screens. These are automated and usually complete within hours. If you have a history of fraud or are on a government watchlist, the bank will decline the account. If the bank suspects unusual activity (for example, if you're opening multiple accounts at different banks in a short time), they may ask follow-up questions before approving.
Once approved, you'll receive a confirmation email with your account number and instructions for setting up online banking. Some banks send this immediately; others wait until the debit card is in the mail. If you don't hear back within three business days, call the bank to check the status.
Frequently Asked Questions
Can I open a business checking account without an EIN?
Yes, if you're a sole proprietor. You can use your Social Security Number instead. However, getting an EIN is free and takes five minutes, and it keeps your personal and business finances separate. Most banks recommend it even though it's not required.
What if I don't have a business license yet?
Most banks don't require a license to open an account. If your state or county requires one before you can legally operate, call the bank and ask whether they'll accept proof of application instead. Some will; others will wait until you have the actual license.
Do I need to bring original documents or can I send copies?
If you open the account in person, bring originals so the bank can verify them. If you open online, you'll upload or email copies. The bank will ask you to confirm that the copies are true and accurate — don't alter or edit them.
How long does it take to get approved?
In-person applications are usually approved the same day. Online applications take one to three business days if you upload documents during the application, or longer if you email them afterward. Call the bank if you don't hear back within a week.
What if the bank declines my application?
Banks rarely decline new business accounts unless there's a fraud concern or you're in a high-risk industry. If declined, ask the bank why in writing. You can then try another bank, or address the issue (for example, by clarifying your business structure) and reapply.