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If you recently started a business and you’re now sending and receiving payments, it’s time to open a business bank account. A business bank account can help you track expenses, manage invoicing and file taxes more efficiently. More importantly, a Here are the steps to open a business bank account, plus tips on How To Open a Business Bank Account The requirements to open a business bank account are similar across different types of financial institutions. Here are the basic steps. 1. Get an EIN If you haven’t already, you’ll need to 2. Have Your Documents Ready Have any required documents, such as a government-issued photo ID or business license, ready before you go into a bank or apply online. Commonly required documents are explained below. 3. Apply in person or online Depending on the financial institution, you can either bring your documents into a branch or open an account online by uploading your documents. Many accounts will also require an opening deposit, which you can often pay by check, credit/debit card or electronic transfer from another bank account. What Documents Do I Need To Open a Business Bank Account? The documents you need to open a business bank account will depend on the type of business you operate. At a minimum, all business owners need to provide the following: • Personal identification in the form of a government-issued photo ID • • • Business legal name and DBA (Doing Business As) name And, depending on the type of business, be prepared ...