How to Set Up a Small Business Bank Account

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Opening a small business bank account is relatively simple. You just have to have the right paperwork when you go to the bank and select a bank that meets your needs.

Obtain an EIN number from the IRS. This is a number that is similar to a social security number, but for a business. It will be the number your business uses to get credit, or to file its taxes or pay employees.

File a DBA, or "doing business as" if it is required in your state. If you plan to do business under a name other than your own, this DBA may need to be filed with the local country registrar in your state. There is usually a form to fill out, and the registrar will check to see if that name is registered to anyone else before officially registering it to you.

Select a bank that offers business banking or business checking accounts. Most banks and credit unions do, but you may want to shop around to see who offers you the best rewards and lowest fees for banking.

Open an account under your business name, using the EIN. You may need to bring your DBA papers with you when you go to the bank to do this, if your state requires such papers. You will also have to fund your account at this time with whatever minimum dollar amount the bank requires to open an account.


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Alexis Writing has many years of freelance writing experience. She has written for a variety of online destinations, including She holds a Bachelor of Arts in communication from the University of Rochester.

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