Most banks let you start a commercial account online, but you will hit a wall before the account is fully open
You can open a commercial bank account online with most major banks and many regional ones. The process starts digitally: you fill out an application, upload your business documents, and verify your identity through your computer or phone. But here is where it stops being simple. Nearly every bank requires you to sign documents in person or through a notary, provide an Employer Identification Number (EIN) or Social Security Number tied to your business, and sometimes meet with a banker before the account becomes active and you can move money.
The online part handles the paperwork collection and initial review. The in-person or notarized part handles the legal verification that you are who you say you are and that your business actually exists. Banks cannot skip this step—federal law requires it. So when a bank advertises "open online," what they mean is "start online," not "finish online."
Key Takeaways
- You can complete the application and document upload online with most banks, but nearly all require notarized signatures or in-person verification before the account is active.
- You will need an EIN (Employer Identification Number) from the IRS, a business license, and a government-issued ID for the owner or authorized representative.
- The entire process from application to active account typically takes five to ten business days if you have all documents ready and can meet the verification requirement quickly.
- Some banks offer mobile notarization or remote verification through video, which can replace an in-person visit but still requires a third party to confirm your identity.
- If your business structure is new or unusual, or if you have no business history, the bank may request additional documents or a phone call before approval.
What documents you need before you start
Gather these before you begin any online application. Banks will ask for them, and having them ready cuts your timeline in half.
You need a valid government-issued photo ID for the person who will be the account owner or authorized signer—a driver's license, passport, or state ID card. You need an Employer Identification Number (EIN) from the IRS, which you can obtain for free at irs.gov if your business is a sole proprietorship, partnership, LLC, or corporation. A sole proprietor can use a Social Security Number instead, but an EIN is cleaner for business accounts. You need proof of your business structure: a Certificate of Formation (for an LLC), Articles of Incorporation (for a corporation), a partnership agreement, or a business license issued by your city or county. You need the business address and the personal address of the owner or authorized signer.
If your business is brand new and you have not yet received an EIN or business license, most banks will let you apply with a pending EIN number or a business license application receipt. Call the bank's business line before you start to confirm what they accept in your situation.
How the online application actually works
The application itself takes 15 to 30 minutes. You will enter the business name, structure (LLC, corporation, sole proprietorship, etc.), address, and the owner's personal information. You will upload scans or photos of your documents—ID, EIN letter, business license, and sometimes a recent utility bill to confirm the business address. The bank's system will verify your identity by checking your ID against public records, and it may run a background check.
After you submit, the bank's underwriting team reviews your documents. This usually takes one to three business days. If everything matches and there are no red flags, they will send you an email or call asking you to complete the verification step. If something is missing or unclear—a document is blurry, a name does not match across documents, or your business address cannot be confirmed—they will ask you to resubmit or clarify.
Do not assume silence means approval. Check your email and voicemail daily. Some banks send the verification request to a spam folder, and if you miss the window to respond, your application may be closed and you will have to start over.
The verification step: where online stops and in-person begins
This is the step that trips up most people. After the bank approves your documents, they need to verify that you are the person in the ID you uploaded and that you are authorized to open the account. Federal law (Know Your Customer, or KYC, rules) requires this verification to happen in real time, with a human confirming your identity.
You have three main options. First, you can visit a branch in person and sign the account opening documents in front of a banker. This takes 20 to 30 minutes and is the fastest route if a branch is near you. Second, some banks offer remote video verification, where you schedule a video call with a banker, show your ID to the camera, and answer questions about your business. This usually happens within 24 to 48 hours of your request. Third, you can use a mobile notary service—the bank will direct you to one or let you hire your own—and have the notary witness your signature on the account documents. Mobile notaries typically charge $50 to $150 and can come to your business or home.
After verification is complete, the bank will activate your account. You can usually start moving money the same day or the next business day. Some banks hold your first deposit for a few days as a final fraud check, but your account number and routing number are live immediately.
Timeline from application to active account
If you have all your documents ready and can complete verification quickly, the entire process takes five to ten business days. Here is the typical breakdown:
| Step | Time |
|---|---|
| Submit online application and documents | Same day |
| Bank reviews documents and runs checks | 1 to 3 business days |
| Bank requests verification (email or call) | Same day as approval |
| You complete verification (in-person, video, or notary) | 1 to 5 business days (depends on your availability) |
| Bank activates account | Same day as verification or next business day |
The longest delay is usually step 4—your availability to meet the verification requirement. If you cannot visit a branch or schedule a video call within a few days, the timeline stretches. If the bank asks for additional documents (a lease, a utility bill, or clarification on your business), add another two to five business days.
What can go wrong and how to fix it
The most common problem is a mismatch between documents. Your ID says "Robert Smith" but your business license says "Bob Smith Consulting." Your address on your driver's license is your home, but your business address is different. Your EIN letter has not arrived yet. These are not deal-breakers, but they require explanation. When the bank asks, respond immediately with a clear note: "I go by Bob, which is short for Robert" or "My business is registered at the office address, but I live at the home address." Attach any documents that clarify the mismatch.
A second common problem is a failed identity verification. The video call did not connect, the notary did not show up, or you missed the bank's call. If this happens, the bank will usually give you another chance. Respond to their follow-up email or call within 24 hours and reschedule. If you do not respond within a few days, the application closes and you start over.
A third problem is a background check flag. If you have a recent bankruptcy, a fraud conviction, or a pattern of overdrafts at other banks, the bank may deny the account or ask for more information. This is rare for a legitimate business, but if it happens, ask the bank what triggered the flag and whether you can provide additional context or documentation. Some banks will reconsider if you explain the situation.
Banks that make the online process fastest
Chase, Bank of America, Wells Fargo, and Citibank all let you start a commercial account online, but they all require in-person or notarized verification. Chase and Bank of America have the most branches, so in-person verification is often fastest if you live near one. Wells Fargo and Citibank both offer video verification, which can be quicker if you do not have a nearby branch.
Smaller regional banks and online-only banks like Brex, Mercury, and Novo also offer online applications. Brex and Mercury target startups and tech companies and often have faster underwriting (two to three business days instead of five). Novo is built for small business and has a simpler application. However, these banks have fewer physical locations, so video or notary verification is usually your only option. Read the fine print on each bank's website to confirm what verification method they use and whether they charge any fees.
Frequently Asked Questions
Can I open a commercial account if I do not have an EIN yet?
Yes. You can apply with a pending EIN number (the IRS gives you a confirmation number when you apply online) or with your Social Security Number if you are a sole proprietor. Some banks will let you use the pending number and update it later once the official EIN arrives. Call the bank before you apply to confirm they accept pending numbers.
Do I have to visit a branch in person, or can I do everything by video?
Most banks let you choose. If they offer video verification, you can do the entire process without visiting a branch. If they do not, you can hire a mobile notary to witness your signature at your business or home. Check the bank's website or call their business line to see which options they offer.
How long does it take to get an EIN if I do not have one?
If you apply online at irs.gov, you get an EIN immediately and can use it the same day. If you apply by mail or phone, it takes two to four weeks. Apply online before you start your bank application so you have the number ready.
What if the bank denies my application?
Banks rarely deny a commercial account for a legitimate business, but if yours is denied, ask the bank in writing why. Common reasons are a mismatch in documents, a background check issue, or an address that cannot be verified. You can reapply after fixing the problem, or you can try a different bank.
Can I use a business address that is not a physical location, like a UPS box or a virtual office?
Most banks require a physical business address where mail can be delivered. A UPS box or virtual office address may not work. If your business is home-based, use your home address. If you use a coworking space or shared office, use that address. Call the bank before you apply if you are unsure whether your address will be accepted.