How to Apply for a Business Bank Account

There are certain steps you must take before applying for a business bank account. Follow these steps to make your small business eligible for a business account.

Difficulty: Moderately Easy

Instructions

1. Apply for your master business license.
   You must have your master business license before you can apply for a business bank account. When you apply for your master business license, you will be given a tax ID number that is absolutely necessary to getting a business bank account.

2. Choose your business bank.
   After doing careful research on business bank rates, fees, and contract agreements, choose your business account home.

3. Enter your business tax identification number into the business bank application.
   Once you have your masters license, use the tax ID number to make your business eligible for the business bank account.

4. Provide all other essential business information, including employer identification number, information about the type of business (LLC, DBA, sole proprietor, etc), and a copy of your master business license, along with proof of your own identity.

5. Wait for approval for the business bank account.

Resources

• How to Choose a Small Business Bank
• How to Write a Grant for a Business