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Best Business Bank Accounts for LLCs From Our Partners Bank/institutionNerdWallet rating▼Chase Business Complete Banking℠ Learn more at Chase, Member FDIC4.5/5 Best for Payment processing + branch accessU.S. Bank Silver Business Checking Learn more at U.S. Bank, Member FDIC4.0/5 Best for Welcome bonus + branch access11 more rows
Documents Required Pan Card copy/Letter from IT dept. Identity Proof: Pan Card (back frnt) Driving License (copy of name,add,photo pages) Valid Passport(copy of name,add,photo pages) Voter ID(back frnt) Address Proof: Elec Bill,Phone Bill(not more than 2 months old) Driving Licence. Passport, Visa. Ration Card.
CHASE: BEST FOR PHYSICAL BUSINESSES Its a great choice for LLCs that accept credit card payments. You dont need to open a separate merchant account, so it saves you time and hassle. Chase also has frequent welcome offers for new customers.
One of the most important moves after youve formed a limited liability company (LLC) is to open a separate bank account for your LLC. Having a separate bank account is required by law because a limited liability company is a separate entity from you as an individual.
Get documents you need to open a business bank account Employer Identification Number (EIN) (or a Social Security number, if youre a sole proprietorship) Your businesss formation documents. Ownership agreements. Business license.
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An EIN (Employer Identification Number) is a unique nine-digit number the IRS uses to identify your business for tax reporting purposes. Unless youre a sole proprietor or single-member LLC, youll need an EIN if you want to open a business bank account.
Opening a business bank account for your LLC doesnt just help streamline bookkeeping and operations (though it does that, too). A dedicated LLC bank account is an essential step to maintaining the legal distinction between the business and its owners, which is necessary to preserve limited liability protections.
You can use your Aadhaar card, drivers licence, voter identification card, passport, or NREGA card as both identification and address proof. Can I open a savings bank account if I am currently unemployed? Yes, you can open a savings bank account irrespective of your employment status.

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