Every US business needs a dedicated business bank account to maintain limited liability protection and simplify tax filing. Most banks require your EIN, LLC documents, and a small opening deposit.
- EIN (Employer Identification Number) from the IRS — free at irs.gov
- LLC Articles of Organization or business formation documents
- Government-issued photo ID
- Opening deposit ($0–$100 depending on bank)
Get your EIN first
Apply for a free EIN at irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online. Received instantly online. Never pay a third-party for an EIN — it is free directly from the IRS.
Choose a bank for your business
Best business checking accounts: Chase Business Complete ($15/month, waivable), Bank of America Business Advantage (free with $250 balance), Relay (free, online-only, excellent for small businesses), Mercury (free, online-only, startup-friendly), BlueVine (free + interest on balances). Online-only banks often have no fees or minimums.
Gather your documents
Required documents typically: EIN confirmation letter (SS-4), LLC formation documents (Articles of Organization), Operating Agreement, government ID for all owners, and business address. Some banks also want a DBA (Doing Business As) certificate if your business name differs from your LLC name.
Open the account (online or in branch)
Most online business banks (Relay, Mercury, BlueVine) allow 100% online opening — upload your documents, verify identity, and fund the account by ACH transfer. Traditional banks may require an in-person visit for the initial opening.
Set up accounting integration
Connect your business bank account to accounting software: QuickBooks, Xero, or FreshBooks. This automatically imports transactions and simplifies bookkeeping, expense tracking, and tax preparation.
Frequently Asked Questions
Yes, but it is more difficult. Online banks like Mercury and Relay are more open to non-resident LLCs. You will need your EIN, formation documents, and identity verification. Some banks require a US phone number and address.
Legally no, but strongly recommended. Mixing personal and business finances creates tax complications and eliminates some liability protections. Any account in your business name (even a personal account titled with your DBA) works.
Relay is the best free business bank account for small businesses — no fees, no minimums, integrates with QuickBooks and Xero.