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How To Set Up A Business Bank Account Online

by Alena Gartrell (2020-04-13)


Opening a business bank account bank account online can be an easy and painless process when you have all the necessary documents in place.

If you want to know how to apply for a business bank account online, first it is important to know that there are some factors that can prohibit you from doing so.



For example, if your company provides money services, including check cashing, issuing money orders, issuing store value cards, exchanging currency, or wiring funds in exchange for a fee, banks will not allow you to open an account online. You will need to go to the branch personally to open an account.

In addition, if your business is in one of the following industries then you will need to open an account in person rather than online.

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2) Precious metal dealers

3) Gambling

4) Government entity

So what type of documentation will you need to have available?

Depending on the structure of your business, the following documents will be required to open a business bank account online.

*Sole Proprietorship

- Social Security Number or Business Tax Identification Number

- Business License showing both business and owner's name, or

- Business name filing document, such as a Fictitious Name Certificate or Certificate of Trade Name, showing both business and owner's name

*General Partnership

- Employer Identification Number (EIN)

- Partnership Agreement showing business name and name of partners, and

- Business name filing document, such as Fictitious Name Certificate or Certificate of Trade Name, showing business name and name of partners

*Limited Partnership

- Employer Identification Number (EIN)

- Limited Partnership Agreement showing business name and name of partners, and

- Business organizing document filed with and certified by state official, such as Certificate of Limited Partnership, showing business name and name of partners

*Limited Liability Partnership

- Employer Identification Number (EIN)

- Limited Liability Partnership Agreement showing business name and name of partners, and

- Business organizing document filed with and certified by state official, such as Certificate of Limited Liability Partnership, showing business name and name of partners

*Corporation

- Employer Identification Number (EIN)

- Articles of Incorporation or Certificate of Incorporation

- Corporate Resolution identifying the authorized signers if officer names are not listed on Articles of Incorporation or Certificate of Incorporation

*Corporation (Publicly Traded)

- Employer Identification Number (EIN)

- Articles of Incorporation or Certificate of Incorporation

- Corporate Resolution identifying the authorized signers if officer names are not listed on Articles of Incorporation or Certificate of Incorporation

*Professional Corporation

- Employer Identification Number (EIN)

- Articles of Incorporation or Certificate of Incorporation

- Corporate Resolution identifying the authorized signers if officer names are not listed on Articles of Incorporation or Certificate of Incorporation

*Limited Liability Company

- Employer Identification Number (EIN)

- Articles of Organization or Certificate of Formation

- Corporate Resolution identifying authorized signers if officer names are not listed on Articles of Organization or Certificate of Formation

*Unincorporated Association

- Employer Identification Number (EIN)

- Organizing document, such as Articles of Association (if available)



You will also be prompted to select what type of bank account you want to open. Some online banks offer a variety of options from business economy checking to full analysis business checking.

Make sure you obtain a business debit card and review all the additional services you can add to your account, as well as any balance requirements and ongoing maintenance fees.

Once you open a business bank account online with a credit union or bank the next step is establishing business credit and a favorable bank rating for your business bank account.