5 steps to opening a business bank account

Read more about how to open a business bank account, its requirements, different types, what to look for, and their benefits to small business owners.

Gather the required documents and information

– Employer Identification Number (EIN) – Social Security number – Business license – Driver’s license

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Decide on the services you need

– Will you need to send checks or handle cash? – Do you prefer to visit a physical branch location and work with a teller? – Do you prefer the convenience of online banking?

Review your banking options

– Traditional checking account – Online checking account – Cash management account (CMA)

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Compare your options

By doing further research, you can avoid signing up for a bank that has unsatisfactory customer service or unexpected fees.


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