When you form your LLC or corporation with us, you have the option to get a free bank account. Opening a business bank account is essential to keeping your business and personal finances separate. It helps protect your assets, simplifies bookkeeping, and reduces risks during audits.
To open your business bank account, you’ll need the following LLC documents:
Once your LLC is formed and with your approval, LLC Attorney will automatically apply for your business bank account using your EIN. The process is quick and hassle-free, so you can focus on running your business.
1. Form Your LLC and Get an EIN at the same time: We’ll file your LLC with the state and secure your EIN.
2. Set Up Your Bank Account: Our systems are fully integrated with Relay Bank, so we will instantly submit your application for a business checking account as soon as your LLC is formed.
3. Receive Your Debit Cards: You’ll receive your physical and virtual debit cards to start managing your business finances immediately.
No Monthly Fees
Unlike traditional banks, Relay Bank offers business banking with no monthly fees or minimum balance requirements.
Online Convenience
Manage your business bank account entirely online, with the ability to open multiple checking accounts, send payments, and track expenses.
FDIC Insured
Deposits are insured up to $3 million, giving you peace of mind as your business grows.
Profit First® Integration
Relay Bank is the official Profit First bank, perfect for business owners looking to implement this popular cash flow management system.
When you start a business, you want to open a business checking account. You use the account to receive income and to pay business expenses. We partnered with Relay Bank because we believe it’s the most convenient way to manage your financial transactions.
Most banks require your EIN (Employer Identification Number), formation documents (like your Articles of Organization or Incorporation), and possibly an operating agreement or bylaws.
You're not legally required to open a business bank account, but it's highly recommended. To protect your personal assets—especially if your business is ever involved in legal action—you need to keep your business and personal finances completely separate. A dedicated business account helps maintain that important legal and financial boundary.
No, most banks require an EIN to open a business account. It's usually a required field on the application.
Opening a business bank account is a key part of protecting your personal liability as an LLC owner. By only using your business account for business-related expenses and revenue, it helps ensure that if your company is ever sued, your personal assets are less likely to be at stake. Mixing personal and business finances can weaken that protection and put you at risk.
Not generally. Many online business banks support multi-state operations, especially for digital or service-based businesses.
Mixing your business and personal funds can jeopardize the liability protection you get from forming an LLC. It can also complicate taxes and bookkeeping, increasing the chance of errors. If your business is ever audited, having a dedicated business bank account can make the process much smoother and far less stressful.
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