How to open a business checking account

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

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. Examples: Valid driver's license, state identification card, or passport.
• Employer Identification Number (EIN): 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: A 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: A document from the Internal Revenue Service (IRS) verifying your Employer Identification Number (EIN).
• Assumed Name Certificate or Fictitious Name Certificate (if applicable): A 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 a Huntington Bank branch location to open a limited partnership bank account with the following documentation:

• One form of personal identification for each general partner. Examples: Valid driver's license, state identification card, or passport.
• Employer Identification Number (EIN) (if applicable): 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): A document from the Internal Revenue Service (IRS) verifying your Employer Identification Number (EIN).
• Registered Certificate of Limited Partnership: A document filed with your state or regulatory agency to register the limited partnership.
• Partnership Agreement: 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): 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.

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 Examples: 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): 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.
• Assumed Name Certificate or Fictitious Name Certificate (if applicable): A legal document showing the operating name of a business (also known as "Doing Business As" or "DBA"), rather than the legal name of the business.
• Registered Articles of Organization: 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): A formal document structuring the Limited Liability Company (LLC)’s financial and managerial functions and duties.
• Employer Identification Number (EIN) Assignment Letter: A document from the Internal Revenue Service (IRS) verifying your Employer Identification Number (EIN). Also known as Tax ID Certificate or Tax ID Verification Letter.

All LLP partners must be present to open a limited liability partnership (LLP) bank account with the following documentation. The controlling party, along with any beneficial owner who owns 25% or more of the business, will be required to provide additional information (see our sample form).

• One form of personal identification for each authorized signer. Examples: Valid driver's license, state identification card, or passport.
• Employer Identification Number (EIN): 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): A 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: A formal document that sets forth the provisions and conditions of the relationship between the partners.
• Employer Identification Number (EIN) Assignment Letter: A 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. Examples: Valid driver's license, state identification card, or passport.
• Employer Identification Number (EIN): 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: A document filed with your state or regulatory agency to register the corporation.
• Assumed Name Certificate or Fictitious Name Certificate (if applicable): 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: A 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 representatives of the organization or association identified in the governing document must be present at account opening and provide the following documentation:

• Bylaws, charter, constitution or other governing document. This is a document defining the rules, regulations and day-to-day operating procedures of the association or organization.
• Employer Identification Number (EIN) (if applicable): 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.
• 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): 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.

While not every business is legally required to have a separate business bank account, most business owners open one to separate business and personal finances, manage cash flow and establish credibility.

A dedicated business account can also simplify recordkeeping, support business growth and help establish a foundation for business credit.

• Separation: A business checking account keeps your personal banking accounts separate from your business banking. Separating your business funds from your personal funds can help provide a clear line of ownership to outside parties and helps keep your accounting more organized.
• Cashflow: Business checking accounts may offer access to treasury management tools, business credit cards, lines of credit and other solutions designed to help manage day-to-day cash flow. Having both a business bank account and business credit products can also help establish your business credit profile while keeping business and personal credit activity separate.
• A means to do business: A business checking account lets you process payments in a professional manner. Customers pay the business, not you.

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 nonprofit, 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.

There are several types of business bank accounts, and many businesses use more than one to support different financial needs. A business checking account is typically used for day-to-day transactions, a business savings account can help set aside funds for future expenses or reserves, and merchant services can help businesses accept card payments from customers. When opening a business checking account, consider factors such as monthly fees, transaction limits, cash deposit allowances and available banking tools.

Huntington offers several business checking account options designed for businesses of different sizes and transaction volumes. Compare the accounts below to find the option that best fits your needs.

• Business Checking 100 is best for startups and small businesses. Apply Now
• Unlimited Business Checking is ideal for businesses with higher checking and greater cash flow needs. Apply Now
• Unlimited Plus Business Checking is ideal for businesses with high monthly transaction volumes and treasury management needs. Apply Now
• Business Analyzed Checking is great for large companies.

Yes, many businesses can use an Employer Identification Number (EIN) when opening a business bank account. Partnerships, LLCs, corporations, LLPs and many organizations typically provide an EIN as part of the account-opening process. Sole proprietors may be able to use a Social Security Number (SSN) if they do not have an EIN, while sole-member LLCs may be asked to provide an SSN depending on the business structure. Additional documentation may be required based on your business type.

Some businesses may be able to begin or complete the account-opening process online, while others may need to visit a Huntington Bank branch to provide documentation and verify business information. Several business structures, including sole proprietorships, partnerships, LLCs, corporations and organizations have checklist requirements that specify authorized representatives must be present at account opening.

The cost of a business checking account depends on the account you choose and whether you meet any fee-waiver requirements. Huntington offers business checking accounts with monthly maintenance fees ranging from $0 to $40, with opportunities to waive fees on certain accounts.

Business Checking 100 has no monthly maintenance fee, making it a good option for startups, independent contractors and small businesses with lower transaction activity. The account includes up to 100 monthly transactions and does not require a minimum balance to avoid a maintenance fee.

Unlimited Business Checking has a $20 monthly maintenance fee, which can be waived by maintaining $10,000 in total relationship balances or by having a qualifying personal checking account. This account is designed for businesses with higher checking activity and greater cash flow needs and includes unlimited transactions.

Unlimited Plus Business Checking has a $40 monthly maintenance fee, which can be waived by maintaining $50,000 in total relationship balances or by having a qualifying personal checking account. In addition to unlimited transactions, it includes an interest-bearing checking account and additional treasury-management-related benefits.

When comparing business checking accounts, look beyond the monthly fee and consider factors such as transaction limits, cash management features, relationship balance requirements and fee-waiver opportunities. Choosing the account that matches your business's transaction volume and banking needs can help minimize costs while providing the services your business requires.

While it may be possible to use a personal bank account for some businesses, many business owners choose to open a separate business bank account. Keeping business and personal finances separate can make bookkeeping easier, help maintain clearer financial records, and provide a more professional way to manage business transactions. A dedicated business account can also help establish a clear distinction between personal and business funds when working with customers, vendors or lenders.

In general, business bank accounts can support your efforts to establish and manage business credit. Processing business transactions through a dedicated business account helps keep business and personal finances separate, creating a clearer financial record for your company. Combined with responsible use of business credit products, a business bank account may help demonstrate your business's financial activity and support the development of a business credit profile. Business owners should consult their financial institution or credit bureau for specific information about how business credit is established and reported.

You can find and apply for the right Huntington business checking account online in minutes.