What you need before you walk in

A commercial checking account is a bank account registered to your business, not to you personally. Banks treat them differently from personal accounts — they require proof that your business exists as a legal entity, and they verify your identity against that entity. You cannot open one with just a Social Security number and a driver's license the way you can with a personal account.

The exact documents vary by bank and by your business structure, but most banks will ask for an Employer Identification Number (EIN), articles of incorporation or formation, a business license, and a government-issued ID in your name. If your business is a sole proprietorship, some banks will let you use your Social Security number instead of an EIN, though many now require an EIN regardless. If you are a partnership, LLC, S-corp, or C-corp, you must have an EIN — you cannot open a commercial account without one.

Start by getting your EIN from the IRS if you do not have one. You can apply online at irs.gov, by phone, or by mail. The online application takes about 15 minutes and you receive your EIN immediately. Once you have that, gather your business formation documents — the articles of incorporation, articles of organization, or partnership agreement, depending on your structure. You will also need a current business license from your city or county.

Key Takeaways

  • You must have an Employer Identification Number (EIN) from the IRS before most banks will open a commercial account, unless you are a sole proprietor and the bank accepts your Social Security number.
  • Banks require proof of business structure (articles of incorporation, articles of organization, or partnership agreement) and a current business license, plus a government-issued ID in your personal name.
  • Some banks let you open an account online or by mail, but many require at least one owner or authorized representative to visit in person to verify identity.
  • Monthly fees for commercial accounts typically range from $10 to $30 depending on the bank and account type, and many banks charge per-check or per-deposit fees on top of that.
  • The account usually opens within one to five business days after you submit documents and the bank completes its verification.

Documents each bank type typically requires

Large national banks and regional banks have similar document requirements, but they enforce them differently. Chase, Bank of America, Wells Fargo, and Citibank all require an EIN, articles of incorporation or organization, a business license, and a government-issued photo ID for at least one owner. Some also ask for a recent business tax return or a letter from the IRS confirming your EIN. A few require all owners to appear in person; others let one authorized representative handle it.

Community banks and credit unions often have lighter requirements. Many will open an account with just an EIN, a business license, and your ID — they may not require formal articles of incorporation if you are a sole proprietor or partnership. Some credit unions limit commercial accounts to members only, so you may need to join the credit union first. Call ahead before you visit, because requirements vary widely even within the same bank system across different branches.

Online banks like Mercury, Brex, and Novo have streamlined the process. Most let you upload documents and complete the entire application on their website. They typically require an EIN, articles of formation, a business license, and a photo ID, but they do not require an in-person visit. Approval usually takes one to three business days. However, online banks often have higher monthly fees or stricter requirements around transaction volume, so read the fee schedule carefully before you commit.

The step-by-step process at a traditional bank

Call or visit your chosen bank and ask to speak with a business banking representative. Do not walk up to the personal banking line — business accounts are handled separately and the personal teller cannot open one for you. Tell them you want to open a commercial checking account and ask what documents they need. This call takes five minutes and saves you a wasted trip.

Gather the documents they list and bring originals or certified copies. Most banks will not accept photocopies or digital scans for the initial opening, though some now accept scanned documents if you verify them in person. Bring your EIN letter from the IRS, your articles of incorporation or organization, your business license, and your government-issued ID. If the bank asks for a tax return, bring a copy of your most recent one.

At your appointment, the representative will verify that the documents match, confirm your identity, and ask about the account's expected use — how many checks per month, what your average balance will be, whether you will deposit cash or checks only. They will also ask about authorized signers. You can name other people who are allowed to sign checks or withdraw money, or you can keep it to yourself. The representative will then open the account, usually on the spot or within one business day.

You will receive a temporary debit card and checks within five to ten business days. Some banks offer rush check printing for an extra fee if you need them sooner. Your account number and routing number are available immediately, so you can set up direct deposit or bill pay right away if you need to.

What commercial accounts cost

Monthly maintenance fees range from $10 to $30 at most banks, depending on whether you maintain a minimum balance and how many transactions you make. Some banks waive the monthly fee if you keep a certain amount in the account — often $2,500 to $10,000 — or if you set up direct deposit. Read the fee schedule before you open the account, because these minimums vary widely.

Beyond the monthly fee, most commercial accounts charge per-check fees if you write more than a certain number of checks per month — often 50 to 100 checks included, then $0.10 to $0.25 per check after that. Some charge per-deposit fees, especially if you deposit cash. Wire transfer fees typically run $15 to $30 per outgoing wire. ATM withdrawals outside the bank's network usually cost $2 to $3 per transaction.

Online banks often have lower or no monthly fees, but they may charge higher per-transaction fees or require a minimum balance. Brex and Mercury, for example, have no monthly fees but charge for certain services like ACH transfers or check deposits. Compare the total cost across banks based on how you actually plan to use the account — if you write 200 checks a month, a bank with unlimited checks but a higher monthly fee may be cheaper than one with low fees but high per-check charges.

If you do not have an EIN yet

You can get an EIN online from the IRS in about 15 minutes. Go to irs.gov, search for "Apply for an EIN", and follow the online application. You will answer questions about your business structure, the type of business you run, and your name and address. At the end, the IRS displays your EIN on the screen and emails you a confirmation letter. You can use that number immediately to open a bank account.

If you prefer not to apply online, you can call the IRS at 1-800-829-4933 and apply by phone. The wait time is usually 10 to 20 minutes. You can also mail Form SS-4 to the IRS, but that takes two to four weeks. For a bank appointment, the online or phone route is much faster.

If you are a sole proprietor and have not yet formed an LLC or corporation, you can still open a commercial account using your Social Security number instead of an EIN at some banks — but most banks now require an EIN regardless of structure. Getting one takes 15 minutes and costs nothing, so it is worth doing even if your bank does not strictly require it.

Sole proprietors, LLCs, and corporations — what changes

A sole proprietor can open a commercial account under their business name using either their Social Security number or an EIN. Some banks will let you use your personal name on the account instead of a business name, which can be simpler if you operate under your own name. You will need a business license from your city or county, but you do not need articles of incorporation or formation because you have not formally registered the business as a separate entity.

An LLC or corporation must have an EIN and must provide articles of organization or incorporation. The bank will verify that the business name on the account matches the name on those documents. If you operate under a "doing business as" (DBA) name, bring the DBA registration from your county as well. The bank needs to see that the name you want on the account is legally registered to your business.

A partnership must have an EIN and must provide the partnership agreement or articles of partnership. The bank will ask which partners are authorized signers on the account. You can restrict signing authority to one partner, or you can allow all partners to sign. This decision affects how the account operates, so discuss it with your partners before you meet with the bank.

What happens after the account opens

Your account is live immediately, but you will not have checks or a debit card for five to ten business days. In the meantime, you can set up direct deposit, ACH transfers, and bill pay using your account number and routing number. The bank will provide both numbers at your appointment or in your welcome email.

If you need checks sooner, ask the bank about rush printing. Most banks can print checks in two to three business days for an extra $15 to $25. Some offer temporary check stock you can use while you wait for your permanent checks to arrive.

Set up your accounting software or bookkeeping system to track the account from day one. Reconcile your account monthly against your bank statement to catch errors or unauthorized transactions. If you have multiple authorized signers, establish a clear policy about who can sign checks and for what amounts — this prevents confusion and protects your business.

Frequently Asked Questions

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

Most banks require proof that your business is registered — a business license, articles of incorporation, or a DBA registration. If you have not registered yet, register with your city or county first, then apply for an EIN, then open the account. The whole process takes one to two weeks.

Do I have to visit the bank in person?

Large national banks usually require at least one owner to appear in person for identity verification. Online banks and some credit unions let you complete the entire process remotely by uploading documents. Call your chosen bank and ask whether an in-person visit is required before you schedule an appointment.

What if I want to add another person as an authorized signer later?

You can add authorized signers at any time by visiting the bank or, at some banks, by requesting the change online. The bank will ask for that person's government-issued ID and may require them to sign a card authorizing them to sign checks. This usually takes one business day to process.

Can I use a commercial account for personal expenses?

Legally, you can deposit personal money into a commercial account and withdraw it, but mixing personal and business money makes accounting harder and can create tax problems. Keep the accounts separate — use the commercial account only for business income and business expenses.

What if the bank denies my application?

Banks check your personal credit history and your business history. If you have unpaid debts, a history of overdrafts, or fraud on your record, the bank may deny the application. Ask the bank why they denied it, then try a different bank or a credit union, which often have looser requirements. You can also ask whether a higher minimum balance or a co-signer would change their decision.