What Do You Need to Open a Business Bank Account?
A lot of new business owners show up to the bank without the right documents and get turned away.
Don't be that person.
Here's exactly what you need so you walk in ready — or apply online without hitting a wall.
Why you need a business bank account
Let's be real about this first.
Mixing personal and business money is one of the fastest ways to lose your LLC's liability protection. It's called "piercing the corporate veil." If a court determines you haven't treated your LLC as a separate entity — including keeping separate finances — they can hold you personally liable anyway.
The whole point of forming an LLC was the protection. Don't give it up by running business money through your personal account.
Keep them separate. Always. From day one.
What you need to open a business bank account
Requirements vary by bank. But here's what almost every bank will ask for:
1. Your LLC's Articles of Organization The stamped, state-approved document that proves your LLC is officially registered. Bring the original or a certified copy.
2. Your EIN Your business tax ID. Free from IRS.gov. Banks use it to verify your business and report interest. If you don't have it yet — get it before you go to the bank.
3. Your Operating Agreement Many banks require this even when your state doesn't mandate it. It outlines who owns the LLC and how it's managed. Have it ready.
4. A Government-Issued Photo ID Driver's license or passport. Standard identity verification.
5. Your Business Address Should match what's on your Articles of Organization.
6. An Initial Deposit Some banks require a minimum deposit to open. Ranges from $0 at some online banks to $25–$100 at traditional banks. Check before you go.
Which bank should you use?
Honestly — it depends on how you operate.
Traditional banks (Chase, Bank of America, Wells Fargo): Good if you deal in cash, need in-person service, or want a local branch relationship. Usually have monthly fees unless you maintain a minimum balance.
Online banks (Relay, Mercury, Bluevine): Popular with new business owners. Often no monthly fees, no minimum balance, easy online application. Mercury and Relay are frequently recommended in the small business community.
Credit unions: Often lower fees and more personalized service. Worth checking if you have a local one you trust.
When should you open your business bank account?
The moment your LLC is approved and your EIN is in hand.
Don't wait. Don't collect client payments into your personal account while you figure it out. Start clean from day one — it's much harder to untangle later.
What if you don't have your LLC yet?
That's step one.
You need your LLC filed before most banks will open a true business account. If you haven't filed yet, start there.
See LLC Filing Packages Get the File For Free Guide — $27 →
Bottom line
Four things. Articles of Organization, EIN, Operating Agreement, photo ID. Have those ready and you'll be in and out in 30 minutes.
Second Hustle LLC is a document preparation service. We are not a law firm or CPA firm. We do not provide legal or tax advice. Always consult a licensed attorney or CPA before making legal or financial decisions.