Skip to main content
_FB_2018-Icons-finalized-cleaned-up_new_FB_2018-Icons-finalized-cleaned-up_newGroup 9
Find Your Local Branch
Back
Scroll to top

What is Required to Open a Business Checking Account?

Running A Business 3 min read

Ready to talk to an expert?

Find A Location Get In Touch

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

Ready to talk to an expert?

Find A Location Get In Touch
Share:
First Bank’s Good To Know Logo
Sign up for our newsletter and be the first to know about new tips, insights, and products from First Bank.
First Bank may use this email address to contact you about products, services, and promotions.

You may be interested in...

Doctors Office Build a Strong Foundation for Your Medical Practice First Bank’s Travis Bailey assists a variety of small businesses, including medical and dental offices, with their financial needs. We spoke to him to learn about the biggest financial challenges a practice might face. 3 min read
lock and credit card No-Cost Information Security Tips for Businesses There's never a bad time to set goals and get a fresh start, especially when it comes to taking steps to prevent fraud losses for your business. 3 min read
Woman receiving feedback in store from customer 5 Tips for Leveraging Customer Feedback It’s been said that we have 2 ears and 1 mouth for a reason: we should listen twice as much as we talk. Here are 5 tips to make sure you’re listening to your customers (and not just talking at them). 3 min read
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 financials into one place. A small business credit card not only allows you to establish good credit in your business’ name, but it also provides you with maximum flexibility for your business’ expenses. This flexibility stems from the ability to continue charging up to your credit limit in cases of larger purchases, as long as you repay your monthly bill. Having a specific business credit card also separates expenses for your personal card from those for your business when monthly bills arrive. 9 Benefits of a First Bank Credit Card for Your Small Business At First Bank, we know flexibility is essential when it comes to running a small business so we made sure to create a small business credit card* that caters to the user’s financial freedom in a convenient and secure way. Let’s take a look at the benefits our First Bank Business World Elite credit card can provide you. No annual fees. Yes, you read that right. No annual fees, whatsoever. Earn rewards on your every day and monthly purchases. With our business credit card, you can earn 1.25 points for every $1 spent on a qualified purchase. Calculate your points total with our rewards calculator. Zero liability means you only pay for purchases you’ve authorized on your Mastercard® debit or credit card. Other security benefits include protection in cases of employee misuse of charge privileges and fraudulent online use of your card information. Extended warranties. Paying with your eligible Mastercard can double your manufacturer warranties up to one year. Get coverage for items purchased with an eligible Mastercard that protects you if an item is damaged or stolen within 90 days of the purchase date. Travel assistance. Traveling 50 miles or more? We’ve got you covered with numerous travel-related assistance services, including medical and legal referrals to help during an emergency. Rental insurance that can provide you with reimbursement for physical damage to or theft of a rental vehicle. Recover VAT (Value Added Taxes) expenses incurred by U.S. company employees during foreign business travel. Visit 3 min read