Opening a dedicated business bank account is one of the first things you should do when starting a business. It separates personal and business finances, simplifies taxes, and builds credibility with customers and vendors.
Documents you'll need
The exact requirements vary by business structure, but here's what most banks require:
- Employer Identification Number (EIN): Issued by the IRS. Sole proprietors without employees can use their SSN instead.
- Business formation documents: Articles of incorporation, partnership agreement, or LLC operating agreement — depending on your structure.
- Business license: Your state or local business license or DBA ("doing business as") certificate.
- Government-issued photo ID: For all account owners and signers.
- Ownership information: Names, addresses, and ownership percentages for anyone who owns 25% or more.
Choosing the right account
Consider your monthly transaction volume, cash deposit needs, and whether you need features like wire transfers, employee cards, or accounting integrations. A basic checking account works for most startups, while growing businesses may benefit from accounts with unlimited transactions and dedicated support.
Not sure which account fits? Visit our business account comparison page to see all options side by side.
How long does it take?
Most business accounts can be opened online in 15–20 minutes. You'll typically receive your debit card within 5–7 business days. Online and mobile banking access is available immediately after approval.