How to Open an LLC Bank Account
To open an LLC bank account, a business owner typically needs to provide their LLC's formation documents, EIN (Employer Identification Number), and personal identification to a bank of their choice. A dedicated account allows the business to manage its finances separately from personal ones.
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Last Updated: September 3, 2026
Creating an LLC business account is one of the most important building blocks for a new small business owner. A limited liability business structure separates and protects an owner’s personal finances from those of their company — and an LLC bank account acts partially as the burden of proof.
A business bank account for LLC owners gives them the flexibility to deposit checks and process electronic payments. When someone first starts a business, having an accurate incoming/outgoing financial tracking system can make or break the company. The LLC business bank account serves as an automated option to monitor the bottom line.
Obviously, setting up a business bank account for LLC companies requires a little more than just the owner’s driver’s license. This guide walks through all the essential facts entrepreneurs need to know so they can open a business account with confidence.
LLC Bank Account Requirements
Necessary LLC bank account requirements could vary depending on the chosen bank. Entrepreneurs should call their financial institution of choice to double-check, but generally, when someone starts an LLC (limited liability company) and opens a bank account for it, they’ll need:
- The owner’s personal ID or driver’s license, along with the business’s taxpayer ID number, otherwise known as the Employer Identification Number (EIN).
- Formation documents. Also known as the Articles of Organization (or Certificate of Formation or Certificate of Organization in some states), this is the document the business filed with the state to establish the LLC.
- The company’s business license. If the business’s state (or county or city, etc.) requires a general business license to do business there, the bank may want to see it before letting the company open a business bank account.
- Operating agreement. This outlines things like ownership stakes and decision-making details, but it should also show who’s authorized to sign checks and do other transactions on behalf of the LLC.
- “Doing business as” (DBA) name paperwork. If the LLC operates under a name other than its legal name, the bank may want to see documentation for it. In some states, a DBA is known as a trade name, assumed name, or fictitious name (see doing business as definition for more information).
Additional documentation could be required depending on the bank, so it’s best to check the bank’s requirements before visiting them in person.
Types of Business Bank Accounts for an LLC
Learning how to open a business bank account for LLC companies starts with the right documents. Before starting the process, the owners will need to decide which type of LLC bank account is best for the company. Some of the most popular options include:
- Business checking account. Includes basic functions like cash and check deposits, ACH transfer, etc.
- Business savings account. A business savings account comes in handy during slow periods to cover bills, inventory costs, and other overhead.
- Credit card account/Lines of credit. Many business owners eventually want to move toward improving their LLC’s credit status. Some banks offer perks if the business opens both a checking and a business credit account with their institution.
- Merchant services account. This is necessary for accepting credit and debit card payments. It handles credit/debit payments and refunds, chargebacks, and other merchant tasks.
No matter what a business owner chooses, opening a dedicated business bank account will help them keep a dedicated account for separating their business and personal finances.
Opening an LLC Bank Account
It’s rare for a business owner to open an LLC bank account online — most banks or credit unions require an in-person visit. The following steps outline how to open a bank account for LLC owners from start to finish.
Step 1: Form an LLC
If someone hasn’t already created their LLC, now is the time to do it. It’s mandatory if the business owner plans to open a bank account for LLC purposes. Plus, it’s how the business owner can get the necessary paperwork required by their financial institution. ZenBusiness can handle the LLC paperwork filing, so everything is already verified.
Step 2: Choose a bank
At this point, a business owner needs to choose where to open their LLC bank account. This requires researching different banks and credit unions. Entrepreneurs need to be mindful of minimum deposits, monthly fees, and other charges — these fees can turn into a real headache. Many business owners also look for perks like signup bonuses or waived monthly fees for a set period.
Step 3: Apply for a business bank account
After providing the required documents and forms of identification, an entrepreneur will need to fill out a sizable application. In some cases, it could take several days for approval, depending on the bank.
Step 4: Fund the business bank account
The bank will probably require some form of an initial deposit plus a monthly minimum balance. In some cases, this can be a significant amount. If the business is already cash-flow positive, it’s no big deal. But for a new startup that hasn’t gotten the ball rolling, this can put extra stress on the owner.
Using an LLC Business Bank Account
Learning how to open a bank account for an LLC has several advantages. Consider the benefits of using a business bank account as an LLC:
- Layer of Protection. A business owner with a dedicated business bank account has further evidence that they and their business are two separate entities. This helps keep the owner’s personal funds out of danger from creditors and lawsuits.
- Bookkeeping Solutions. Track company expenses and finances to discover where to cut costs.
- Move Money. Use the account’s debit card to make purchases or use ACH electronic checks and wire transfers to make business transactions.
- Business Tax Solutions. A dedicated account makes it easier to see expenses the LLC accrues over time. Some business bank accounts even have tools for categorizing expenses that can make it easier to track deductions and navigate the filing process.
Need additional tools? ZenBusiness Money Pro gives entrepreneurs a dashboard for monitoring the financial well-being of their LLC in real-time. The tool pairs with a business owner’s existing bank account to help them accurately forecast trends and do more of what’s working and less of what’s not.
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ZenBusiness can help!
ZenBusiness doesn’t currently offer a business bank account, but they have plenty of other tools to help manage the red tape surrounding a new business, including business formation services and ZenBusiness Money Pro. Tools like these allow a startup business owner to save their most valuable asset — their time. Plus, the right tools make it easier to focus on the most important elements of the company — its customers.
Disclaimer: The content on this page is for information purposes only and does not constitute legal, tax, or accounting advice. For specific questions about any of these topics, seek the counsel of a licensed professional.
LLC Bank Account FAQs
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Unless an entrepreneur wants to go through and itemize all their business and personal transactions, they need an LLC bank account. More importantly, a bank account helps provide further proof on paper that the owner and their business are separate legal entities.
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By doing this, an LLC owner puts their personal finances at risk. If someone takes that owner to court to try to prove they and their LLC are the same entity, using the personal bank account for the business doesn’t look good.
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It depends on the chosen bank’s specific policy. For example, if the bank doesn’t require a startup balance, they can open the account immediately and make their first deposit after their first sale. But if the bank requires a minimum opening balance, the business owner will need to supply those funds as they apply. No matter which approach the business owner takes, it’s important to make sure all deposits are clearly marked, so they’re easy to track for taxes and bookkeeping.
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This depends on the specifics of the business. If a business owner has a lot of overhead or employees to pay, it’s a good idea to open a standard checking account with a combined savings account attached. This allows the owner to stash money away in case there’s a slow period, and they need to cover the bills and payroll. If an owner plans on taking credit cards, they might consider a merchant account.
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If the LLC is set up the default way, as a pass-through entity, and there’s only one owner, there’s no need to borrow (see pass-through entity definition). The owner can just take money from the LLC as a draw. If the LLC has other owners, the borrowing owner needs to get their approval and make a record of it. It’s possible to take a loan from the LLC using a legally enforceable promissory note to repay it; an accountant or business lawyer can assist with this. Be aware that the IRS may treat the loan as a distribution, meaning the owner would be taxed as such. For more information, see ZenBusiness’s article on paying LLC members and how an owner can pay themself as an owner-employee by applying for S corporation status.
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To open an LLC business checking account, a business owner typically needs their EIN from the IRS, the LLC’s formation documents (Articles of Organization), their operating agreement, and a business license if their state or industry requires one. All LLC members authorized to use the account should bring their personal identification.
Some banks may require additional documents, like a Certificate of Good Standing or a banking resolution that specifies who can access the account. Requirements vary slightly between financial institutions, so it’s smart for entrepreneurs to call their chosen bank ahead of time to confirm exactly what they’ll need to bring.
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To set up a bank account for a single-member LLC, an entrepreneur should first gather their EIN (or SSN if they’re a disregarded entity), Articles of Organization, and operating agreement. Then, the owner should research banks that offer business accounts with features that match their needs.
Once they’ve chosen a bank, the business owner can schedule an appointment and bring their documents. During the appointment, they’ll complete the necessary paperwork and make an initial deposit. While the process is similar to multi-member LLCs, the sole owner will have complete control over the account.
Remember that keeping business finances separate from personal ones is essential for maintaining the LLC’s liability protection.
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