How to Open a Business Bank Account for an LLC

Open a business bank account for your LLC with your EIN, formation documents, and ownership info. Here's exactly what banks require.

Opening a business bank account for your LLC separates your company's money from your personal finances, which is essential for keeping your liability protection intact. The process is straightforward once you have the right documents ready.

The short answer: banks require your EIN, your formation documents, your operating agreement, and identification for the owners. With those in hand, most banks open the account in under an hour.

Why your LLC needs a separate account

Mixing business and personal money is the fastest way to weaken your limited liability protection. If a court decides your LLC is not a real separate entity, your personal assets can be reached by business creditors. A dedicated business account is the clearest evidence that the LLC operates on its own.

A separate account also makes tax time simpler: every business expense is in one place, and you can hand your accountant clean statements instead of a jumble of personal transactions.

What banks require

You will need your LLC's EIN, which you get free from the IRS (see how to get an EIN for your LLC). Bring your formation documents, such as the Articles of Organization or Certificate of Formation, and a photo ID for each owner and authorized signer.

Most banks also ask for your operating agreement and a resolution authorizing who can open and manage the account. A utility bill or lease in the LLC's name helps establish the business address.

Choosing a bank

Compare business checking accounts on monthly fees, minimum balances, transaction limits, and whether the bank waives fees under certain conditions. Some banks offer free business checking with no minimum, while others charge fees that can be avoided with a minimum balance.

Consider whether you need a business savings account, a merchant account for card payments, or a line of credit. Opening these later with the same bank is usually easier, so a long-term relationship matters.

Steps to open the account

Start by choosing a bank and gathering your documents. Apply online or in person — many banks let you start online but require a visit to verify identity. You will answer questions about the business's structure, ownership, and expected activity.

The bank runs a check on the LLC and the owners, reviews your documents, and opens the account with an initial deposit. Most banks open accounts the same day for in-person applications.

Online banks and credit unions

Online business banks and credit unions are increasingly popular because they often waive monthly fees and minimum balance requirements. The trade-off is that you may not have a local branch for cash deposits or in-person help, so weigh convenience against cost.

Credit unions are member-owned and frequently charge lower fees than large banks, but not all of them offer business accounts. Confirm that the institution is federally insured and that its business checking features — mobile deposits, invoicing, and integrations with accounting software — match how you run the LLC.

Whichever institution you choose, read the fee schedule before opening the account. Some banks charge for wire transfers, cash deposits above a monthly limit, or paper statements, and those costs add up over a year of business banking. As of 2026, many online banks offer free business checking, but the terms change frequently, so confirm the current offer before you commit.

After you open the account

Once the account is open, route all business income and expenses through it, and pay yourself with draws or distributions from that account. Keep personal and business money separate from day one.

If you are just forming your company, how to start an LLC covers the steps up to this point, including choosing a registered agent and filing your formation documents.

Frequently Asked Questions

Can I open a business bank account without an EIN?

Most banks require an EIN to open a business account for an LLC, even for single-member LLCs. The EIN is free from the IRS and takes about ten minutes to obtain online, so it is worth getting before applying.

What documents do I need to open an LLC bank account?

You need your EIN, formation documents like the Articles of Organization, an operating agreement, a photo ID for each owner, and often proof of the business address. Some banks ask for a resolution naming authorized signers.

Can I use my personal bank account for my LLC?

You can in the very early stages, but it weakens your liability protection and complicates taxes. Banks, lenders, and the IRS all expect business money to flow through a business account, so separate the accounts as soon as possible.

How long does it take to open a business bank account?

In-person applications are usually completed the same day, taking about an hour with the right paperwork. Online applications can take a few business days while the bank verifies the LLC and the owners.