How to Open a Business Checking
or Savings Account

Starting and running a business is difficult but having a bank on your side can help. The information below walks you through how to open a business checking account and who could need one. In short, you open a business checking account by:

  1. Contacting the bank to find out the requirements
  2. Gathering the appropriate documents
  3. Meeting with or contacting an account representative to open the account

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Why use a Business Bank Account?

Having a business bank account allows for a separation of your business finances and cash flow from your personal finances, and is a professional means to do business.

  • Separation — A business checking account keeps your personal banking accounts separate from your business banking. Separating your business funds from your personal can help provide a clear line of ownership to outside parties and helps keep your accounting more organized.
  • Cashflow — Some business accounts come with lines of credit or credit cards and this can help boost your purchasing power when you need to spend money to make money.
  • A means to do business — A business checking account lets you process payments in a professional manner. Customers pay the business, not you.

When Can You Open a Business Bank Account?

It is recommended that a business account be opened at the launch of the business and after any articles of incorporation and other applicable documents have been signed. If you’re a sole proprietor, then this can be done as soon as you’ve documented your business name. If you’re a part of a non-profit, LLC, or some other business partnership, you can open a bank account after all the documentation associated with the business structure has been formalized.

If you’re already completing transactions or conducting business, you should be able to open a business bank account now.

What Type of Business Bank Account Should I Open?

There are many types of business accounts. You should select the type that’s most applicable to your business. Different types of accounts offer different benefits and incentives. Some accounts are geared more toward specific industries and many are based upon how many transactions you handle each month. At Huntington, we offer several types of business accounts and an account representative can help you pick the best type of business checking account for you.

What You Need to Open a Business Bank Account

The kind of documentation required to open a business bank account depends on the type of business and the bank. Contact the bank to find out any specific documentation that is needed to open the best type of account for you, but in general you’ll need:

  • Valid and official forms of identification
  • Social Security Number or Employer Identification Number
  • Legal document identifying the structure of the business and/or the name of the business
  • One or more representatives from the business who is authorized to open a bank account on behalf of the company

Note: Additional documents may be required before your business deposit account can be opened. The list provided here may change as applicable state and federal regulations change.

Not every employee or partner of a business is authorized to do banking on behalf of the business. To open an account, you’ll need an authorized representative to handle the paperwork with the bank.

The sole proprietor must be present at a Huntington branch location to open the account with the following documentation.

  • Two forms of personal identification. Ex: Valid driver's license, state identification card, or passport.
  • Social Security Number (SSN)
  • Employer Identification Number (EIN) (if applicable) Ex: A unique nine-digit number assigned to each business entity by the Internal Revenue Service (IRS). Formatted as XX-XXXXXXX. Also known as a Federal Tax Identification Number.
  • Employer Identification Number (EIN) Assignment Letter (if applicable) Ex: Document from the Internal Revenue Service (IRS) verifying your Employer Identification Number (EIN).
  • Assumed Name Certificate or Fictitious Name Certificate (if applicable) Ex: Legal document showing the operating name of a business (also known as “Doing Business As” or “DBA”), as opposed to the legal name of the business.

At least two General Partners must be present at account opening at a Huntington branch location for a General Partnership Bank Account with the following documentation. The Controlling Party, along with any Beneficial Owner who owns 25% or more of a business, will be required to provide additional information (see our sample form).

  • One form of personal identification for each General Partner Ex: Valid driver's license, state identification card, or passport.
  • Employer Identification Number (EIN) Ex: A unique nine-digit number assigned to each business entity by the Internal Revenue Service (IRS). Formatted as XX-XXXXXXX. Also known as a Federal Tax Identification Number.
  • At least one form of business identification:
    • Partnership Agreement Ex: Legal agreement that explicitly details the relationship between the business partners and their individual obligations and contributions to the partnership.
    • Government Issued Business License
  • Employer Identification Number (EIN) Assignment Letter Ex: Document from the Internal Revenue Service (IRS) verifying your Employer Identification Number (EIN).
  • Assumed Name Certificate or Fictitious Name Certificate (if applicable) Ex: Legal document showing the operating name of a business (also known as “Doing Business As” or “DBA”), as opposed to the legal name of the business.
  • One form of personal identification for each General Partner such as valid driver's license, state identification card, or passport.
  • Employer Identification Number (EIN) (if applicable). This is a unique nine-digit number (formatted as XX-XXXXXXX) is assigned to each business entity by the Internal Revenue Service. It’s also known as a Federal Tax Identification Number.
  • The EIN Assignment Letter or business identification must provide verification of the business address or the business will need to provide an additional document to confirm the address such as a utility bill or vehicle registration.
  • Registered Certificate of Limited Partnership. This is a document filed with your state or regulatory agency to register the Limited Partnership.
  • Partnership Agreement. This is a legal agreement that explicitly details the relationship between the business partners and their individual obligations and contributions to the partnership.
  • Assumed Name Certificate or Fictitious Name Certificate (if applicable). This is a legal document showing the operating name of a business (also known as “Doing Business As” or “DBA”), rather than legal name of the business.
  • The Controlling Party, along with any Beneficial Owner who owns 25% or more of the business, will be required to provide additional information.
  • Note: at least two General Partners must be present at account opening.

Additional documents may be required before your business deposit account can be opened. The list provided above may change as applicable state and federal regulations change.

At least two LLC Members (or Manager, if applicable) must be present at account opening for an LLC Bank Account, unless the entity is a Sole Member LLC. The Controlling Party, along with any Beneficial Owner who owns 25% or more of a business, will be required to provide additional information (see our sample form). Huntington will need the following documentation:

  • Two forms of personal identification Ex: Valid driver's license, state identification card, or passport.
  • Social Security Number (SSN), if the entity is a Sole Member LLC.
  • Employer Identification Number (EIN) Ex: Document from the Internal Revenue Service (IRS) verifying your Employer Identification Number (EIN).
  • Assumed Name Certificate or Fictitious Name Certificate (if applicable) Ex: A unique nine-digit number assigned to each business entity by the Internal Revenue Service (IRS). Formatted as XX-XXXXXXX. Also known as a Federal Tax Identification Number.
  • Registered Articles of Organization Ex: Registered Articles of Organization Document filed with your state or regulatory agency to register the Limited Liability Company (LLC).
  • Operating Agreement listing the names of Member(s) and the Manager (if applicable) Ex: Formal document structuring the Limited Liability Company (LLC)’s financial and managerial functions and duties.
  • Employer Identification Number (EIN) Assignment Letter Ex: Document from the Internal Revenue Service (IRS) verifying your Employer Identification Number (EIN). Also known as Tax ID Certificate or Tax ID Verification Letter.
  • Additional documents may be required before your business deposit account can be opened. The list provided above may change as applicable state and federal regulations change.

All LLP Partners must be present to open an account for a Corporation with the following documentation. The Controlling Party, along with any Beneficial Owner who owns 25% or more of a business, will be required to provide additional information (see our sample form).

  • One form of personal identification for each authorized signer Ex: Valid driver's license, state identification card, or passport.
  • Employer Identification Number (EIN) Ex: A unique nine-digit number assigned to each business entity by the Internal Revenue Service (IRS). Formatted as XX-XXXXXXX. Also known as a Federal Tax Identification Number.
  • Registration of Limited Liability Partnership (LLP) Ex: Document filed with your state or regulatory agency to register the Limited Liability Partnership (LLP).
  • Limited Liability Partnership Agreement, including the names of the Partners Ex: Formal document that sets forth the provisions and conditions of the relationship between the partners.
  • Employer Identification Number (EIN) Assignment Letter Ex: Document from the Internal Revenue Service (IRS) verifying your Employer Identification Number (EIN). Also known as Tax ID Certificate or Tax ID Verification Letter.

At least two Officers of the Corporation must be present to open an account for a Corporation with the following documentation. The Controlling Party, along with any Beneficial Owner who owns 25% or more of a business, will be required to provide additional information (see our sample form).

  • One form of personal identification for each authorized signer Ex: Valid driver's license, state identification card, or passport.
  • Employer Identification Number (EIN) Ex: A unique nine-digit number assigned to each business entity by the Internal Revenue Service (IRS). Formatted as XX-XXXXXXX. Also known as a Federal Tax Identification Number.
  • Registration of Incorporation Ex: Document filed with your state or regulatory agency to register the Corporation.
  • Assumed Name Certificate or Fictitious Name Certificate (if applicable). This is a legal document showing the operating name of a business (also known as “Doing Business As” or “DBA”), rather than legal name of the business.
  • Employer Identification Number (EIN) Assignment Letter Ex: Document from the Internal Revenue Service (IRS) verifying your Employer Identification Number (EIN). Also known as Tax ID Certificate or Tax ID Verification Letter.
  • By-laws, Charter, Constitution, or other governing document. This is a document defining the rules, regulations, and day-to-day operating procedures of the Association/Organization.
  • Employer Identification Number (EIN) (if applicable). This is a unique nine-digit number (formatted as XX-XXXXXXX) is assigned to each business entity by the Internal Revenue Service. It’s also known as a Federal Tax Identification Number.
  • The EIN Assignment Letter or business identification must provide verification of the business address or the business will need to provide an additional document to confirm the address such as a utility bill or vehicle registration.
  • Assumed Name Certificate or Fictitious Name Certificate (if applicable). This is a legal document showing the operating name of a business (also known as “Doing Business As” or “DBA”), rather than legal name of the business.
  • Note: at least two representatives of the Association or Organization as identified in the governing document must be present at account opening.

Additional documents may be required before your business deposit account can be opened. The list provided above may change as applicable state and federal regulations change.

If you have questions concerning the creation of any of the business entity types discussed or associated documentation, please consult a legal or tax professional for more information.

Visit a branch to get started
If you have further questions or are ready to open your account, please visit your local branch or contact your business banker. When visiting the branch or your business banker, please make sure to bring the above documents and information with you.
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