Skip to main content
_FB_2018-Icons-finalized-cleaned-up_new_FB_2018-Icons-finalized-cleaned-up_newGroup 9
Back
Scroll to top

What is Required to Open a Business Checking Account?

It’s standard for a business to have a business checking account. After all, a business needs to handle cash and pay bills. If you’re just starting a business, or even if you’re moving your business bank account to a new institution, you’ll need to show several pieces of documentation. So what is required to open a business checking account? The answer to that question is pretty similar from one bank to another.

What You Will Need to Open a Business Checking Account

Identifying Documents

Confirmation of identity is required to open a business checking account. Bring along a government issued picture ID (e.g. driver’s license, passport) to corroborate your identity with your business’ registered information.

Business Licenses

Whether you are an LLC or an individual proprietor, bank officials will typically need to see your current business license.

Legal Incorporation Documents

According to Business News Daily, it is essential to bring along state-filed articles of incorporation in order to open a business checking account. If a business has numerous owners or operates on a board-advisory basis, the bank will require documentation granting the account opener the right to access funds and transactions.

DBA Name Registration

If you are DBA, doing business as a fictitious name, the law requires you to register that name with the state. Photocopy and keep this registration for your records, as you will need it to get started with business banking.

Tax Identification Number

Your business’ employment identification number, also known as the tax identification number, is a key tool for tax management and paying employees. Make sure to bring this to your business banking appointment. If you are a sole proprietor, you can use your own social security number for business tax purposes.

These are the documents typically required to open a business checking account, though requirements may vary by state. However, by contacting your bank, you can easily determine what you need to have on hand to open your company’s checking account.

Open Your Business Banking Account at First Bank

When you choose to open a business checking account at First Bank*, you’ll be rewarded with a number of features and perks, including:

To open a business checking account, bring your required documents to your local First Bank branch, or contact us today.


**While First Bank does not charge for mobile banking, your mobile carrier’s message and data rates may apply.

———

Sources:

Business News Daily: http://www.businessnewsdaily.com/6477-business-bank-account-documentation.html

Trending Topics

Long-Term Installment Loans

First Bank offers long-term installment loans and other types of lending that help small businesses cover expenses. The government-backed Small Business Association (SBA) helps business owners acquire long-term loans to...

What Is a Child Savings Account?

“What is a child savings account?” In a child savings account, you can deposit spare change, birthday money and other loose funds to accrue some interest throughout their childhood. This teaches children the lesson of “a...

Get Maximum Flexibility With a Small Business Credit Card

Many small business owners often find themselves managing their business operations, financials, customer service and more. First Bank wants to lessen your workload with a small business credit card to streamline your...

Saving for College – North Carolina

Paying for college begins well before your child ever sets foot on campus. Saving for college from day one is an effective way of combating the rising costs of today’s colleges and universities. There are nearly 200...

Best Business Checking Account – Lillington, NC

If you are a business owner, you know how important proper finance management is to running a successful business. Separating your business bank account from your personal bank account can ensure accurate bookkeeping. If...

Branch Spotlight: Combining Finance, Community Building, and Line Dancing in Florence, SC

No team in banking understands the nuances of line dancing and banking quite like our Florence-Main branch. Join them for line dancing on Friday mornings! In March of 2023, we expanded our South Carolina footprint with the...

Best Banking Rates and Services: First Bank, NC

There are many factors to consider when assessing a checking account comparison. You’ll want to weigh interest rates, maintenance fees, ATM options, online features and more. First Bank has nearly 100 locations across...

How To Make A Budget

The best way to save money and gain control over your finances is to make a budget. Follow these simple steps to make a budget that will save you money and bring you peace of mind about your spending. Making a Budget...

ACH Positive Pay

If you are a business owner, you should spend your time worrying about growing a successful business, not worrying about fraudulent transactions. That’s where ACH Positive Pay comes in. What is ACH Positive Pay? We’re glad...

Small Business Bank – North Carolina

First Bank has become the small business bank in North Carolina for owners across the state. We were named one of the best banks in North Carolina by Forbes. We provide the diverse selection of services you expect from a...