Finding a Bank Account

Finding one is easy. It's filling it up that takes work.

All of this info is from the Small Business Administration. The full text can originally be found here.

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

First, it is important to realize there are several factors that can prohibit one from opening a business bank account on the internet.

For example, if a 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.

So, what type of documentation is required to open a business bank account online? Depending on the structure of your business, the following documents will be required to open an 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

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

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

Limited Liability Company

• 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 be prompted to select what type of bank account you prefer to open. Some online banks offer a variety of options, from business economy checking to full analysis business checking.

If you are given the opportunity, select the business debit card option and review all the additional services you can add to your account.

Now that you have opened a business bank account successfully, the next step is establishing a favorable bank rating for your company.