Do You Need an LLC to Open a Business Bank Account?
Opening a business bank account is one of the first real steps of launching your company. But do you actually need to form an LLC first? Here's what you should know.
Start Your LLC for $49Why Most Banks Ask for LLC Documents
Most banks (even online ones like Mercury or Relay) ask for:
- Your LLC formation documents (Articles of Organization)
- Your EIN (Employer Identification Number)
- Your operating agreement (sometimes optional)
Having an LLC makes your business more legitimate in the eyes of a bank and separates your personal and business finances.
Can You Open a Business Bank Account Without an LLC?
Technically yes — sole proprietors can often use their SSN and business name to open an account.
But:
- You'll likely be treated as a personal account
- You won't have legal separation from your business
- You may be restricted on which banks or platforms you can use
Payment Platforms Prefer LLCs
Services like Stripe, PayPal, and Square often expect a legal business entity, especially if you scale.
Having an LLC:
- Boosts trust
- Helps with verification
- Gives access to full platform features
What You Actually Need to Open a Bank Account
Once your LLC is formed, you'll typically need:
- Your Articles of Organization
- Your EIN
- Operating Agreement (optional but recommended)
- A business address
The Bottom Line
You don't need an LLC to open a business bank account, but it makes everything easier, cleaner, and more scalable — especially if you want to keep your finances separate and build long-term.
Genie gives you everything you need to get started:
- Personalized LLC filing instructions
- EIN setup help
- A free operating agreement
- Instant dashboard access
Ready to open your business bank account the right way?
Start Your LLC for $49No upsells, just what you actually need.