Banks will ask for bylaws, but not every bank requires them before you open the account

Most banks ask for your nonprofit's bylaws when you open a business account, but whether they make it a hard requirement depends on the bank and the account type. Some banks will open the account with just your EIN (Employer Identification Number), articles of incorporation, and an ID, then ask for bylaws later. Others treat bylaws as mandatory upfront. The difference often comes down to whether the bank is a large national chain, a regional bank, or a credit union—and how much scrutiny they apply to nonprofit accounts specifically.

If you do not have bylaws yet, you have two paths: get them drafted before you apply, or call the bank first and ask what they actually need. Many nonprofits find that the second option saves time, because you may not need bylaws at all for the initial account opening.

Key Takeaways

  • Banks vary in whether bylaws are required upfront or can be provided later, so calling ahead to ask what your specific bank needs will save you time.
  • Your EIN, articles of incorporation, and a board member's ID are the documents almost every bank will require, regardless of bylaws.
  • If you do not have bylaws, you can have them drafted by a lawyer, use a template from your state's nonprofit resources, or ask your bank whether they have a template you can use.
  • Some banks will let you open the account and provide bylaws within 30 days; others will not open it until bylaws are in hand.
  • Credit unions often have simpler requirements than large banks and may skip bylaws entirely if you can show your articles of incorporation and EIN.

What banks actually check in your bylaws

Banks do not read bylaws to verify every detail. They are looking for three specific things: who is authorized to sign checks and make withdrawals, whether the board has approved opening the account, and whether there are any restrictions on how the money can be used.

Your bylaws should show the names and titles of the people authorized to conduct banking business on behalf of the nonprofit. If your bylaws say the executive director and treasurer must both sign checks over $5,000, the bank will note that. If they say the executive director alone can sign, the bank will set up the account accordingly. Banks use this information to know who to contact if there is a dispute or a frozen account.

The second thing banks look for is evidence that your board voted to open the account. This is usually a board resolution—a one-page document stating that the board authorized the nonprofit to open a bank account and naming the people who will manage it. Some banks will accept this as a separate document; others want it included in or referenced by the bylaws.

Documents you will need regardless of bylaws

Every bank will ask for your EIN and your articles of incorporation. The EIN is a nine-digit number issued by the IRS; you can get one for free online at irs.gov if your nonprofit does not have one yet. The articles of incorporation are the legal document you filed with your state to create the nonprofit—your state's secretary of state office has a copy, and you should have one too.

You will also need a government-issued ID from at least one person who will be authorized to use the account. This is usually the executive director, treasurer, or board chair. Bring the original ID, not a copy. Some banks ask for two forms of ID or want to see a board resolution naming the authorized signers.

A few banks also ask for a nonprofit tax information letter from the IRS—the letter confirming that your nonprofit has 501(c)(3) status or another tax-exempt status. If you have it, bring it. If you do not have it yet because your nonprofit is brand new, most banks will open the account anyway, though some may flag it for review later.

If you do not have bylaws yet

Do not let missing bylaws stop you from opening an account. You have three options: draft them yourself using a template, hire a lawyer to write them, or ask the bank whether they can open the account without them.

Many states offer free or low-cost nonprofit bylaws templates through their secretary of state office or nonprofit resource centers. These templates cover the basics: board structure, meeting requirements, who can sign documents, and how money is handled. A template is usually enough for a bank, especially if your nonprofit is small and new.

If you want a lawyer to draft bylaws, expect to pay $300 to $1,000 depending on your state and the complexity of your nonprofit. A lawyer will customize the bylaws to your specific situation and make sure they comply with your state's nonprofit laws. This is worth doing if your nonprofit has complex governance or multiple funding sources.

The fastest option is often to call the bank and ask: "Do you require bylaws before opening a nonprofit account, or can we provide them within 30 days?" Many banks will say yes to the second option, especially if you have your EIN and articles of incorporation ready.

What happens if you open an account without bylaws

If the bank lets you open the account without bylaws, they will usually give you a deadline—often 30 days—to provide them. Write down this deadline and put it on your calendar. Missing it can result in the bank freezing the account or closing it.

When you do provide the bylaws, the bank may ask you to sign a certification stating that the bylaws are current and accurate. This is a standard form; just sign it and return it. The bank will keep a copy on file.

If you open the account and later realize your bylaws do not match what you told the bank—for example, if your bylaws say two people must sign checks but you told the bank only one person would—contact the bank immediately. You can either update your bylaws to match what you said, or ask the bank to change the account setup to match your bylaws. Do not ignore the mismatch, because it can cause checks to bounce or transactions to be denied.

Differences between banks and credit unions

Large national banks like Bank of America, Chase, and Wells Fargo tend to have stricter requirements and often do ask for bylaws upfront. Regional banks and credit unions are often more flexible. Credit unions in particular may skip bylaws entirely if you can show your articles of incorporation and EIN, because they focus more on your nonprofit's mission and financial stability than on governance documents.

If you are having trouble finding a bank that will open an account without bylaws, try a local credit union first. Credit unions are member-owned and often have simpler processes for nonprofits. You may need to become a member of the credit union (usually a $25 one-time fee), but the account opening process is often faster.

Board resolutions and authorization forms

Some banks ask for a board resolution in addition to bylaws. A board resolution is a formal statement that your board voted to open the account and authorizes specific people to manage it. It is usually one page and follows a standard format: "Resolved, that the board of directors authorizes [Name] to open a bank account on behalf of [Nonprofit Name]."

If the bank asks for a board resolution, you can write one yourself—it does not have to be drafted by a lawyer. The resolution should be dated, signed by the board chair or secretary, and kept in your nonprofit's records. Some banks provide a template; ask when you call to open the account.

If your bylaws already say who is authorized to conduct banking business, you may not need a separate resolution. Ask the bank: "Will our bylaws be enough, or do you also need a board resolution?" This saves you from preparing documents the bank does not actually need.

Frequently Asked Questions

Can I open a nonprofit bank account if my nonprofit is brand new and does not have bylaws yet?

Yes. Call the bank first and ask whether they require bylaws upfront or will let you provide them within 30 days. If they require them upfront, you can use a state template or hire a lawyer to draft them quickly. If they will wait, you can open the account now and draft bylaws later.

What if my bylaws say one person can sign checks, but the bank wants two signatures?

You have two choices: update your bylaws to require two signatures, or ask the bank to change the account setup to match your bylaws. Do not ignore the mismatch. Contact the bank and explain the situation; they will tell you which option they prefer.

Do I need a lawyer to write bylaws for my nonprofit?

No. Many states offer free templates, and a template is usually enough for a bank. A lawyer is helpful if your nonprofit has complex governance or multiple funding sources, but not required for a basic account opening.

What if the bank closes my account because I did not provide bylaws in time?

Contact the bank immediately and ask whether the account can be reopened. Bring the bylaws with you. Most banks will reopen the account if you provide the missing documents within a reasonable time. If the bank refuses, you can open an account at a different bank.

Can I use the same bylaws template as another nonprofit?

Yes, as long as you customize it with your nonprofit's name, board members' names, and any specific rules your board has decided on. Do not just copy another nonprofit's bylaws without changing the names and details. Banks will notice, and it can delay your account opening.