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:

Many of our business checking accounts offer ways to Keep It Fee-Free***** so you can stop worrying about costs and focus on revenue. 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.

***When you enroll in the MasterCard Rewards Program.

****A transaction is defined as any checks paid, deposits, each deposited item, ATM withdrawals, debit card transactions, online and telephone funds transfers, and ACH debits and credits. There is a fee of $0.35 per item for each item in excess of 250 per statement cycle (or month). Transaction limits vary by account type. See the account summary table.

*****Account holders may avoid the Monthly Maintenance Fee by meeting any of the requirements listed in the Keep it Fee Free™ section of the account summary table for their account type. Other account service fees may apply as described in the Account Services Fee Schedule, also available at your local branch.

———

Sources:

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

Trending Topics

Open a Triangle Business Checking Account

First Bank is the largest community bank headquartered in North Carolina and provides local entrepreneurs with the Triangle business checking accounts and other business banking solutions.

Raleigh Small Business Loans

Whether your business is a staple in the community or a budding start-up, First Bank is available to provide the Raleigh small business loans you need to succeed.

Best Business Checking Accounts in Asheville, NC

Whether you are a beginning entrepreneur or seasoned business owner, First Bank will help you determine which business checking account is best, what banking options are recommended, and how to open an account.

Finding the Best Personal Loans in Asheville, NC

If you live in Western North Carolina and need a personal loan, we can help.

First Bank in Asheville, NC: Serving the Local Community

From Biltmore Village to Downtown Asheville to Historic Montford, we serve the Asheville community by providing banking solutions that take you a step closer to achieving your dreams.

How to Switch Banks in Asheville, NC

If you’re unsure if your current bank is meeting your financial needs or are moving to the Western Carolina area, it’s time to think about switching banks.

Best Small Business Bank in Asheville, NC

When starting a business, it can be hard to know where to begin. Selecting a bank for small businesses takes thought and research, but choosing the right one for your business can lighten your to-do list and put your mind at ease.

First Bank: Financing Loans for Businesses

Choosing a bank to finance the right loan for your business is a critical decision. There are loans that cater to the established business looking to expand, and there are loans…

Commercial Financing

Finding the right commercial financing is easier said than done. If you're starting a business or trying to grow, finding the right option can be a tough task. Learn more about different…

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 help them grow,…