What you need to open an LLC business bank account

To open a business bank account for an LLC, you need to bring your Employer Identification Number (EIN), proof that your LLC exists, and a form of identification. Most banks want to see your Articles of Organization (the document you filed to create the LLC) or a Certificate of Good Standing from your state. You'll also need to decide which owner or manager will be the authorized signer on the account.

The process itself is straightforward: you walk into a bank branch or apply online, show the documents, and sign paperwork. Some banks let you open the account the same day. Others take a few business days to verify your EIN with the IRS. The whole thing usually takes between 15 minutes in person and one week if you do it by mail.

You do not need a separate business license, a business plan, or proof of income to open the account. You just need proof that the LLC itself exists as a legal entity.

Key Takeaways

  • You need an EIN from the IRS, your Articles of Organization or Certificate of Good Standing, and a personal ID to open the account.
  • The bank will verify your EIN directly with the IRS, which can take a few days even if you apply in person.
  • You choose which owner or manager signs checks and makes withdrawals, and you can add more signers later.
  • Business accounts cost more than personal accounts—expect monthly fees between $10 and $30, plus per-transaction charges for some services.
  • You can open the account online, by mail, or in person, depending on the bank.

Getting an EIN before you go to the bank

Your LLC needs an Employer Identification Number before you can open a business bank account. This is a nine-digit number the IRS assigns to your business. You get it free from the IRS website at irs.gov, and you can have it the same day you apply.

Go to irs.gov/ein and select "Apply for an EIN online." You'll answer questions about your LLC—the name, address, what it does, and who owns it. The IRS will give you the number on screen before you leave the page. Write it down or print the confirmation. Some banks will accept a screenshot of the confirmation if you don't have the official letter yet.

If you applied for your EIN more than a week ago and the bank says they can't find it in the IRS system, call the IRS at 1-800-829-4933. They can confirm it exists and sometimes speed up the verification process. Have your LLC name and the date you applied ready.

Documents to bring to the bank

Bring these three things: your EIN (written down or printed), your Articles of Organization or a Certificate of Good Standing, and a government-issued ID. The Articles of Organization is the form you filed with your state to create the LLC—your state's Secretary of State office sent you a copy when they approved it. A Certificate of Good Standing is a newer document that proves the LLC is still active; you can order it from your state's Secretary of State website for a small fee, usually $5 to $15.

Some banks accept either one. Others prefer the Certificate of Good Standing because it's more recent. Call the bank branch before you go and ask which one they want. If you can't find your Articles of Organization, order a Certificate of Good Standing instead—it's faster than asking your state to send a copy of the original filing.

Bring your personal ID as well. A driver's license or passport works. The bank needs to verify that you are who you say you are and that you have authority to open the account on behalf of the LLC.

Choosing who can sign checks and withdraw money

When you open the account, you'll name at least one authorized signer—the person who can withdraw money, write checks, and make transfers. This is usually the LLC owner or manager. The bank will ask for that person's name, address, and date of birth. If there are multiple owners, you decide whether all of them can sign or just one.

You can add or remove signers later without closing the account. If you're the only owner and you want someone else to handle day-to-day banking, you can add them as a signer after the account opens. The bank will ask for their ID and may require them to come in person or sign a form.

Some banks distinguish between signers and account managers. A signer can move money. An account manager can also change account settings, add signers, and close the account. Think about who needs to do what before you decide.

What to expect at the bank or online

If you go in person, the process takes 15 to 30 minutes. The banker will look at your documents, verify your information, and have you sign the account agreement. They'll ask what you plan to use the account for (payroll, vendor payments, customer deposits, etc.) and roughly how much money you expect to move through it each month. These answers don't affect whether you're approved—they just help the bank set up the right account type.

If you apply online, you'll upload photos of your documents and answer the same questions. The bank will then verify your EIN with the IRS, which usually takes 1 to 5 business days. Once they confirm it, they'll send you a confirmation email and the account is ready to use. Some banks mail you a debit card and checks; others let you order them online.

A few banks require you to come in person to verify your identity, even if you start the application online. They'll tell you this when you apply. If that's the case, you can usually do it at any branch of that bank, not just the one you applied through.

Monthly fees and account types

Business checking accounts cost money. Most banks charge a monthly maintenance fee between $10 and $30. Some waive the fee if you keep a minimum balance (often $1,000 to $5,000) or if you set up direct deposit of payroll.

Beyond the monthly fee, you may pay per-transaction charges: $0.25 to $1 per check deposited, $0.50 to $2 per wire transfer sent, or $1 to $3 per ACH transfer. Some accounts include a set number of transactions per month (say, 50 checks and transfers) before charges kick in. Others charge for everything.

Banks offer different account tiers. A basic business checking account is the cheapest and has the fewest features. A premium account costs more but includes things like a business debit card, online bill pay, and merchant services (the ability to accept credit card payments). Start with a basic account and upgrade later if you need more.

Opening the account online versus in person

Opening online is faster if the bank can verify your EIN quickly. You upload your documents, answer questions, and the account opens in 1 to 5 business days. You don't have to leave home or take time off work. The downside is that if something is wrong with your documents, you might not find out until days later.

Opening in person takes longer that day (30 minutes to an hour) but you get answers immediately. If a document is missing or unclear, the banker can tell you on the spot. You also get to ask questions about fees, features, and how to use online banking. For a first business account, in-person can be worth the time.

Some banks let you do both: start online and finish in person. You upload documents and answer questions from home, then visit a branch to verify your identity and sign final paperwork. This splits the difference.

What happens after the account opens

Once the account is open, the bank will give you online banking access. You can log in and see your balance, transfer money, and set up bill pay. Checks and a debit card usually arrive by mail within 5 to 10 business days. Some banks let you order checks online immediately; others make you wait for the first batch to arrive.

Set up your payroll and vendor payments as soon as the account is active. If you're paying yourself or employees, you'll need the bank's routing number and your account number—both appear on your first check or in online banking. If you're receiving payments from customers, give them the account number and routing number so they can send ACH transfers or checks.

Keep your Articles of Organization or Certificate of Good Standing in a safe place. You may need to show it again if you add signers, change the account type, or if the bank asks you to re-verify the LLC's status.

Frequently Asked Questions

Do I need a business license to open a business bank account for my LLC?

No. The bank only needs proof that your LLC exists—your Articles of Organization or Certificate of Good Standing. A business license is not required. Some states and cities require licenses for certain types of businesses, but the bank doesn't check for them.

Can I open a business account if my LLC is brand new and has no income yet?

Yes. Banks do not require proof of income or revenue. They only need your EIN, your LLC documents, and your ID. You can open the account the day you form the LLC.

What if I'm the only owner—do I still need to bring documents?

Yes. Even as the sole owner, you need to show your Articles of Organization or Certificate of Good Standing and your personal ID. The bank needs to verify that the LLC exists and that you have authority to open the account.

Can I use my personal Social Security number instead of getting an EIN?

Most banks will not let you. They require an EIN for business accounts because it separates your personal finances from the business finances. Getting an EIN is free and takes 15 minutes online, so it's worth doing before you go to the bank.

How long does it take to get checks and a debit card after I open the account?

Checks usually arrive within 5 to 10 business days. Debit cards can take 7 to 14 days. Some banks let you order expedited checks online for a fee ($15 to $25) and have them in 2 to 3 days. You can start using the account for transfers and bill pay before the physical items arrive.