How to Open a Business Bank Account Online
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 open 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.
- Telemarketing
- Precious metal dealers
- Gambling
- 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
- Business Tax Identification Number
- 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
- Business Tax Identification Number
- 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
- Business Tax Identification Number
- 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
- Business Tax Identification Number
- Articles of Incorporation or Certificate of Incorporation
- Corporate Resolution identifying authorized signers if officer names are not listed on Articles of Incorporation or Certificate of Incorporation
Corporation (Publicly Traded)
- Business Tax Identification Number
- Articles of Incorporation or Certificate of Incorporation
- Corporate Resolution identifying authorized signers if officer names are not listed on Articles of Incorporation or Certificate of Incorporation
Professional Corporation
- Business Tax Identification Number
- Articles of Incorporation or Certificate of Incorporation
- Corporate Resolution identifying authorized signers if officer names are not listed on Articles of Incorporation or Certificate of Incorporation
- Business Tax Identification Number
- 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
- Business Tax Identification Number
- 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 a favorable bank rating for your business bank account.
What online banks are you considering for your business?
Ready to build your business credit? Become a member of my Business Credit Insiders Circle and gain access to a proven step-by-step business credit building system. A system that provides you access to vendor lines of credit, fleet cards, business credit cards with and without a PG, funding sources and lenders that report to all the major business credit bureaus. Submit your name and email below for details and receive a free audio seminar ($597 value) =>
About the author
Marco Carbajo is a business credit expert, author, speaker, and founder of the Business Credit Insiders Circle. He is a business credit blogger for AllBusiness, a subsidiary of Dun and Bradstreet and author of “Eight Steps to Ultimate Business Credit” and “How to Build Business Credit with No Personal Guarantee.” His articles and blogs have also been featured in the SBA Community, American Express Small Business, Business Week, The Washington Post, The San Francisco Tribune, Scotsman Guide, Alltop, Entrepreneur Connect, and Active Rain.
