With our bank opening service, you can have your small business checking account open the same day we form your LLC. We partner with Relay Bank, your all-in-one small business banking and money management solution.
Open My Business Bank AccountGet Your Small Business Checking Account Today: Meet Relay Bank, Our Proven Business Banking Partner
Do You Need a Business Bank Account?
Keeping your business banking separate from your personal reduces your risk during an audit, gives you asset protection, makes bookkeeping easier, and can avoid partnership disputes. It’s not legally required but highly recommended.
Who is Relay Bank?
Relay is a no-fee, online business banking, and money management platform that helps small businesses take control of cash flow. You’ll easily see what you’re earning, spending, and saving.
Who Can Open Your Small Business Bank Account?
The person opening the account must have the authority to do so. This person is usually an owner and/or manager. When you start your business with us, you can include business banking. We automatically apply for your bank account as soon as we get your EIN. Your account happens almost immediately. It’s one less hassle for you to worry about!
What Do You Need to Open the Account?
To open your Relay Bank business bank account, you need your:
- Articles of Organization
- Employer Identification Number (EIN)
- Operating Agreement
- Name, date of birth & address for all owners above 20%
- Social Security Number of owners if they have one
- ID such as a driver’s license or passport for owners
How is Relay Bank Different than a Traditional Bank?
Because Relay Bank is online, it gives you a fully digital banking experience tailored for small businesses. Open your accounts and manage your business finances from the comfort of your home or office. Easily open new accounts and move funds instantly. If your business practices Profit First®, you’re all set! Relay Bank is the only official Profit First bank.
Business Banking Is More than Just Accounts
Everything we do at LLCAttorney is designed to make starting your business as effortless as possible. In addition to your Relay Account, we offer accounting and bookkeeping services.
Why Choose a Relay Bank Business Checking Account
| Online and Convenient | FDIC Insured | Seamless, Efficient Integrations | Profit First® Official Bank | Crystal Clear Accounting |
|---|---|---|---|---|
| Because Relay Bank is online, you can open your account without having to go into a branch. When you set up your LLC with us, we can set up your account, too! | Relay Bank can spread your deposits between accounts, for a total FDIC coverage of $3,000,000. | Relay Bank offers direct integrations with QuickBooks Online, Xero, and many more! | Open up to 20 checking accounts to easily practice the Profit First® business banking method. | Consolidate your payments—including ACH transfers, wires, checks and payouts from PayPal, Stripe, Square and more. |
Compare Relay Bank to Other Business Checking Accounts
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.
| Business Checking Account | LLCAttorney & Relay Bank | Other Banks |
|---|---|---|
| Monthly service fee | $0 | $5+ |
| # of checking accounts | Up to 20 | Depends on bank |
| # of savings accounts | 2 | Depends on bank |
| # of physical and virtual debit cards | Up to 50 | Limited to the number of authorized users |
| Credit cards | ||
| Overdraft fees | $0 | $30+ |
| Secure, role-based access for team members | ||
| Receipt management | Some | |
| Mobile check deposit | Some | |
| Accounts payable services | Some | |
| 24/7 hands-on friendly support | Some | |
| Two-factor authentication and biometric security | Some | |
| FDIC insured | Up to $3M | Up to $250,000 |
| Zero Liability Protection | Some | |
| Profit First official bank | ||
| Currency exchange for outgoing international wires | varies | |
| Payments via ACH transfer, check and wire | ||
| Deposit and withdraw cash at Allpoint ATMs | Some | |
| Integrate with QuickBooks Online and Xero | Some | |
| You Pay: | $0/month | Too much |
- 1
Log in to your LLC Attorney dashboard and choose Bank Account.
- 2
Answer a few questions. Don’t worry! We don’t just send you to Relay Bank and expect you to find your way. Our systems are integrated.
- 3
Relay Bank will set up your account.
- 4
Receive your debit card(s) in the mail.
How to Open Your Small Business Bank Account
Small Business Banking FAQs
You want to at least open a business checking account. This allows you to separate your business finances from your personal ones. Find one that doesn’t charge you a monthly fee or require a minimum balance (like Relay!). Business has ups and downs, and the last thing you want is unnecessary expenses.
Keeping your business finances separate from your personal ones is crucial. Doing so helps ensure you have a handle on cash flow. It also helps you accurately track invoices, expenses, and deductions. Mistakes and confusion are more likely to happen if all your finances are mixed together.
If you’re a sole proprietor, you can use your social security number. To open an account for a partnership, LLC, or corporation, you need an Employer Identification Number (EIN).
Yes! You can deposit cash via any AllPoint+ ATMs without paying any fees. There are more than 55,000 nationwide.
Relay Bank offers credit cards but not lines of credit. Don’t worry! We have a solution for you. Head over to accounting and bookkeeping to learn more about it.
Relay Bank integrates:
- QuickBooks Online
- Xero
- Gusto
- Stripe
- Paypal
- Plaid
- Square
- Venmo
- Shopify
- Wise
- Yodlee
And more!
Deposits up to $3,000,000 per business are insured by the Federal Deposit Insurance Corporation (FDIC) through an insured cash sweep program managed by Thread Bank, Member FDIC.
The only types of businesses Relay is unable to support are those that deal with provisioning and exchanging cryptocurrency, the sale of firearms or weapons, credit repair, privately owned ATMs, money services, unlawful internet gambling, and cannabis sales.
Written By
Welcome to LLC Attorney, where our mission is to make the process of forming and maintaining your LLC as smooth and stress-free as possible. Our team is a dedicated group of professionals with a shared passion for helping businesses thrive.
