Frequently Asked Questions

• How do I open a business checking account?

  When your business is ready to spend or bring in money, it’s smart to open a business checking account. To open a business bank account, you'll need to share your basic personal information and provide some documents related to your business.

• What do I need to open a business checking account?

  You’ll need proper identification and paperwork. Most banks require an Employer Identification Number (EIN), ownership agreements, a business license, articles of incorporation/organization, and your Social Security Number (if you’re a sole proprietor).

• Can I open a business checking account online?

  Yes! There’s no need to go to a brick-and-mortar location; the entire process of opening a business checking account can be done online.

  Open a business bank account online
• Does my business need a checking account?

  While it’s not required, a business checking account is beneficial for several reasons. It gives your business more professional legitimacy; you can process credit and debit card transactions on behalf of your business; and it provides more security for your money.

• Are business checking accounts FDIC insured?

  Yes, Axos business checking accounts are insured by the FDIC – up to $250,000 for individual accounts and up to $500,000 for joint accounts. You can also access expanded FDIC coverage up to $225 million.