Yes, you can open a business account online, but the process depends on your business structure and which bank you choose
Most banks now let you start a business account application on their website or mobile app without visiting a branch. You'll answer questions about your business, upload documents, and fund the account—all from your computer. However, some banks still require you to sign papers in person or verify your identity through a video call, and a few require an in-person visit for certain business types.
The speed and ease of opening online varies widely. Some banks complete the process in hours; others take several business days. What you can do entirely online also depends on whether you're a sole proprietor, an LLC, a partnership, or a corporation—each has different documentation needs.
Key Takeaways
- Most major banks offer online business account applications, but some require identity verification through video call or in-person signature.
- Sole proprietorships are fastest to open online because they require fewer documents than LLCs or corporations.
- You will need your Social Security Number or EIN, a government-issued ID, and proof of your business address to start most applications.
- Some banks fund your account immediately after approval; others hold deposits for a few business days before the account is active.
What documents you'll need to have ready
The documents required depend on your business structure. If you're a sole proprietor (you own the business by yourself with no formal business entity), you typically need only your Social Security Number, a government-issued ID, and proof of your business address—which can be your home address or a commercial space. Many banks let you upload a utility bill or lease as proof of address.
If you've formed an LLC, corporation, or partnership, you'll need your Employer Identification Number (EIN), which you get from the IRS. You'll also need to upload your Articles of Organization (for an LLC), Articles of Incorporation (for a corporation), or partnership agreement. Some banks ask for a Certificate of Good Standing from your state, which proves your business is registered and in good standing. You can request this from your state's Secretary of State office, usually online.
A few banks ask for a business license or permit, though this is less common. If your bank requests one and you don't have it yet, call the bank before you start the application—some will let you proceed without it, while others will ask you to obtain it first.
How the online application process actually works
The application itself is straightforward. You'll enter your business name, the type of business, your ownership structure, and basic information about what the business does. The bank will ask for your personal information (name, address, Social Security Number) and the business address. You'll then upload documents—usually as PDF or image files—directly through the bank's website or app.
After you submit, the bank reviews your application, which typically takes one to three business days. During this time, the bank runs a background check and verifies the information you provided. Some banks send you an email or text when they're ready for the next step; others require you to log back into the application to check status.
Many banks now use video verification instead of requiring you to visit a branch. You'll schedule a short video call with a bank employee, show your ID to the camera, and answer a few questions to confirm your identity. This usually takes 5 to 10 minutes and can happen the same day you apply or within a few days.
When you'll need to visit a branch or sign in person
Some banks still require you to sign account opening documents in person, even if you've completed the application online. This is less common than it used to be, but it happens. If your bank requires it, they'll tell you during the application process or in an email after approval. You can then schedule an appointment at a branch near you.
A few banks require an in-person visit for certain business types—particularly if you operate in a regulated industry like lending, insurance, or cannabis. Before you start an application, check the bank's website or call to ask whether your business type can be opened entirely online.
If you need to visit a branch, bring your government-issued ID and any documents the bank asked for. The appointment usually takes 15 to 30 minutes. The bank will have the documents ready for you to sign, and you'll fund the account at that time.
How to fund your account once it's open
After your application is approved, you'll need to make an initial deposit. Most banks let you do this online by transferring money from another bank account you own. You'll provide the routing number and account number of the account you're transferring from, and the bank will process the transfer—usually within one to three business days.
Some banks require a minimum opening deposit, which ranges from $0 to $500 depending on the bank and account type. Check the bank's website before you apply so you know what to expect. A few banks waive the minimum if you set up direct deposit or maintain a certain monthly balance.
Once the deposit clears, your account is fully active and you can start using it to receive payments and pay bills. Some banks let you order a debit card and checks during the application process; others send these automatically after the account opens.
Which banks let you open a business account completely online
Major national banks like Chase, Bank of America, Wells Fargo, and Citibank all offer online business account applications. However, each has slightly different requirements. Chase, for example, lets sole proprietors open accounts entirely online but may require video verification for LLCs. Bank of America requires video verification for most business types. Wells Fargo requires an in-person visit for some account types.
Online-only banks like Square Cash for Business, Stripe, and Mercury are built for online opening and typically complete the process faster—sometimes in hours. However, these banks may have fewer physical locations and different fee structures than traditional banks.
Credit unions often have stricter requirements and may not offer fully online opening, though this is changing. Call your local credit union to ask whether they support online business account opening.
Before you choose a bank, visit their website and look for "Open a Business Account" or "Business Banking." Most banks clearly state whether the process is fully online or requires a visit. If it's not clear, call the business banking phone number and ask directly.
What happens if your application is denied
Banks can deny a business account application for several reasons: a poor personal credit history, a history of fraud or financial problems, or a mismatch between the information you provided and what the bank's background check found. If your application is denied, the bank will send you a letter explaining the reason.
If the denial was based on credit history, you can try applying at a different bank—requirements vary. If it was based on information mismatch, you can contact the bank and ask whether you can reapply with corrected information. Some banks will reconsider; others won't.
If you were denied because of a fraud or regulatory concern, it's harder to overturn. In this case, you may need to work with a smaller bank or credit union that has less stringent screening.
Frequently Asked Questions
How long does it take to open a business account online?
Most banks complete the process in one to three business days after you submit your application. Some online-only banks finish in a few hours. If the bank requires video verification or an in-person visit, add a few more days to schedule that appointment. Once everything is signed and your deposit clears, the account is fully active.
Do I need an EIN before I open a business account?
If you're a sole proprietor, no—you can use your Social Security Number. If you've formed an LLC, corporation, or partnership, yes, you need an EIN. You can get one free from the IRS website (irs.gov) in about 15 minutes. Some banks will let you apply for an EIN during the account application process, but it's faster to get it beforehand.
Can I open a business account if my business isn't registered yet?
It depends on the bank. Some banks let sole proprietors open accounts without formal registration. If you've formed an LLC or corporation, most banks require proof that your business is registered with your state. You can register online through your state's Secretary of State website before you apply for the bank account.
What if I don't have a separate business address?
You can use your home address as your business address. The bank will ask for proof of address, which can be a utility bill, lease, or mortgage statement in your name at that address. Some banks accept a PO box, but most prefer a physical street address.
Will opening a business account affect my personal credit?
No. Banks check your personal credit history to assess risk, but opening a business account does not create a hard inquiry that lowers your credit score. The bank may do a soft pull, which does not affect your score.