The Documents and Information You'll Need Before You Walk In
A business bank account requires proof that your business exists and proof of who you are. Most banks want to see your business registration documents, a government-issued ID, and your Social Security number or Employer Identification Number (EIN). The exact list depends on your business structure — a sole proprietorship needs different paperwork than an LLC or corporation — and on which bank you choose.
Start by gathering what you have. If you have not yet registered your business with your state, you will need to do that first; the bank cannot open an account for a business that does not officially exist. If you have already registered, bring the certificate or confirmation letter your state sent you.
Key Takeaways
- You need proof your business is registered with your state, your personal government ID, and either your Social Security number or an EIN before any bank will open an account.
- Sole proprietorships, LLCs, S-corps, and C-corps each require different documents, so confirm your business structure before you visit the bank.
- Most banks ask for a business address, a phone number, and information about what your business does and how much money you expect to move through the account.
- Some banks require a minimum opening deposit, while others do not; this varies by institution and account type.
- The process usually takes one to three business days after you submit everything, though some banks offer same-day or next-day accounts.
What Your Business Structure Determines
If you registered as a sole proprietorship, you are the business. You will need your personal ID and Social Security number. Some banks will let you use your personal Social Security number instead of getting an EIN, though many prefer the EIN because it separates your personal and business finances on their records.
If you registered as an LLC, S-corp, or C-corp, the bank needs to see your Articles of Organization or Articles of Incorporation — the document your state issued when you registered. You will also need an EIN, which you get free from the IRS. If you do not have one yet, you can apply online at irs.gov and receive it immediately, or apply by mail and wait about four weeks. Many banks will let you open an account with an EIN application in progress, but confirm this before you go in.
If you are a partnership, bring documentation showing who the partners are and their ownership percentages. The bank will want to know which partners can sign checks and make decisions about the account.
Personal Identification and Ownership Information
Bring a government-issued photo ID — a driver's license, passport, or state ID card. The bank needs to verify that you are who you say you are and that you have authority to open an account on behalf of the business.
If the business has multiple owners, each owner may need to come in person or provide their own ID and signature. Some banks allow one person to open the account on behalf of the others if they bring a power of attorney document, but this varies. Call the bank ahead of time and ask whether all owners must be present.
You will also need to provide your Social Security number or EIN. If you have both, the bank will usually ask for the EIN because it is the official tax identifier for the business. If you do not have an EIN yet, your Social Security number works temporarily while you are waiting for the EIN to arrive.
Business Information the Bank Will Ask For
The bank will ask what your business does — not in detail, but enough to categorize it. They want to know whether you are a retail store, a consulting firm, a contractor, a nonprofit, or something else. This helps them understand what kind of deposits and transactions to expect.
They will ask for a business address. This can be a physical office, a home address if you work from home, or a registered agent address if you used one when you incorporated. It cannot be a mailbox-only address at a UPS store or similar facility, though some banks make exceptions for certain business types.
They will ask for a phone number where they can reach you, and they may ask how much money you expect to deposit each month or how many transactions you expect to process. These questions help them decide which account type fits you best and whether you need any special features.
Minimum Deposits and Account Fees
Some business accounts require a minimum opening deposit — often $500 to $2,500, though this varies widely. Other banks have no minimum. If you are opening an account with very little money, call ahead and ask what the minimum is, because showing up without enough to meet it wastes a trip.
Ask about monthly maintenance fees, per-check fees if you use checks, and fees for transfers or ACH payments. Some banks waive fees if you keep a certain balance or set up direct deposit. Others charge a flat monthly fee regardless. Understanding the fee structure before you open the account means you can choose one that matches how you plan to use it.
What Happens After You Submit Everything
Once you hand over your documents and information, the bank will verify your identity and check that your business registration is real. They will also run a check through a banking database called ChexSystems to see whether you have had problems with other bank accounts in the past.
Most banks complete this process within one to three business days. Some offer same-day or next-day accounts if you open in person and everything checks out immediately. You will receive your account number, routing number, and debit card either on the spot or by mail within a week.
Once the account is open, you can set up online banking, request checks, and begin depositing money. Some banks let you start using the account before your debit card arrives, using online transfers or mobile deposits.
Documents Checklist by Business Structure
| Business Structure | Documents You Need | ID You Need | Tax ID You Need |
|---|---|---|---|
| Sole Proprietorship | Business registration certificate (if registered) or DBA filing | Personal government ID | Social Security number or EIN |
| LLC | Articles of Organization from your state | Personal government ID | EIN (or Social Security number while waiting for EIN) |
| S-Corp or C-Corp | Articles of Incorporation from your state | Personal government ID | EIN (or Social Security number while waiting for EIN) |
| Partnership | Partnership agreement and state registration documents | Personal government ID for each partner | EIN |
Frequently Asked Questions
Can I open a business account online, or do I have to go to a bank branch?
Some banks let you open a business account entirely online, while others require you to come in person. Online-only banks like Mercury and Brex handle everything through their website and video verification. Traditional banks like Chase and Bank of America usually require at least one in-person visit to verify your identity and sign documents, though a few offer online opening for sole proprietorships.
What if I do not have an EIN yet?
You can get an EIN free from the IRS at irs.gov in about 15 minutes. If you apply online, you receive it immediately. If you apply by mail, it takes about four weeks. Many banks will open an account while your EIN application is in progress, using your Social Security number temporarily, but call ahead to confirm.
Do I need a separate business address, or can I use my home address?
You can use your home address if you work from home. The bank just needs a physical address where they can reach you if needed. A UPS store mailbox or virtual office address usually does not work, though some banks make exceptions for certain business types — ask when you call.
What if I have bad credit or a past banking problem?
Business accounts are not based on personal credit, so bad credit will not stop you. However, if you have had problems with a bank account in the past — overdrafts you did not pay, fraud, or account closure — that information shows up in ChexSystems and some banks may decline you. If this happens, look for banks that advertise second-chance business accounts or that do not use ChexSystems.
How long does it take to get checks and a debit card?
Debit cards usually arrive within five to seven business days by mail. Checks take longer — typically one to two weeks. Some banks offer rush orders for an extra fee. You can usually start using the account for online transfers and mobile deposits before the physical cards and checks arrive.