How do I get a business bank account?

Treyton DeVore
July 13, 2022

To get a business bank account in the US, if you have a business entity like an LLC, the process is relatively pain-free.

Also read: Should my solo business be set up as an LLC?​

When you go to apply for an account you'll get asked for your EIN (Employer Identification Number).

You won't automatically have this and you'll need to request it from the IRS. If you use a service like LegalZoom to form your business, they will most likely get it for you.

After getting your EIN, you can apply to whichever bank you prefer, give them your business information and documents, personal ID, and you should have an account shortly after submitting an application.

And that's it.

I've done the process 4 separate times and the only time I ran into an issue was with a local brick & mortar bank that forgot to give me a document to sign, so I had to go back in-person to sign it.

If you haven't chosen a bank yet, I recommend looking at Creative Juice, Novo, and Mercury. I've used all 3 of them and so far, Mercury has been my overall favorite.

Most importantly, you want to use a bank that doesn't have monthly account fees, minimum balance fees, or any other hidden costs.

Then after you choose a bank and get approved, I recommend have 3 separate accounts:

  • Main checking (for business expenses, payroll, etc)
  • Main savings (for future growth and expenses)
  • Tax savings (to set aside 20-30% of each payment you receive for quarterly taxes, held in a separate account)
Note: There's one exception where you can get a business bank account without having a business entity. If you're a sole proprietor, you can generally use your personal social security number as the EIN number to qualify for a business bank account. Not every bank will accept a personal social for a business, but it doesn't hurt to ask if you don't meet the typical requirements.


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